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Cable Update (GBPUSD)

  • #125,801
  • Mar 10, 2009 4:45am Mar 10, 2009 4:45am
Quoting sofia101
I am not a guru ,but I don't see even 1.3980 I think about 1.3940-50 and yes I expect it to go down from there
i wonder whether GU will reach 1.3980 today.
but, anything could happen ...

i need your guidance , guru sofia
  • #125,802
  • Mar 10, 2009 4:49am Mar 10, 2009 4:49am
Quoting sofia101
I don't know about ladies being better at trading it's personal for everybody,I may project confidence ,but I don't think I am yet .I didn't read the book you mention ,sorry .Was it good?
Ladies don't suffer from testosterone. The book is very helpful in that it teaches you how to move from conscious confidence to subconscious confidence and control emotions when you experience a loss or bad day. These techniques are also relevant to other aspects of life.
  • #125,803
  • Mar 10, 2009 4:50am Mar 10, 2009 4:50am
Quoting uut
i wonder whether GU will reach 1.3980 today.
but, anything could happen ...

i need your guidance , guru sofia
It could be flat too,today.So far nobody is buying and they sell the heck out of it yesterday,will see patience is important.And I 'll get some sleep,see you all at NY open.Good luck to all
  • #125,804
  • Mar 10, 2009 4:50am Mar 10, 2009 4:50am
Quoting TerpFan2
I like your numbers Ezodisy...
Well, in fact the chart's #'s are there for us all to see.
indeed, 23.6 @ 3877 would have made a great short for anyone wanting it. I didn't take it because like Sofia I'm targetting slightly higher in the 3910-3960 area. Daily 5sma is about 4000 and that's the highest I can see it going (about 61.8 of yesterday's down move, though I don't really expect it that high). We shall see.
  • #125,805
  • Mar 10, 2009 4:53am Mar 10, 2009 4:53am
Quoting Barny
Ladies don't suffer from testosterone. The book is very helpful in that it teaches you how to move from conscious confidence to subconscious confidence and control emotions when you experience a loss or bad day. These techniques are also relevant to other aspects of life.
I agree a 100% and yes you are right I work on not having big EGO,lol It's a male prerogative
  • #125,806
  • Mar 10, 2009 4:53am Mar 10, 2009 4:53am
Quoting sofia101
It could be flat too,today.So far nobody is buying and they sell the heck out of it yesterday,will see patience is important.And I 'll get some sleep,see you all at NY open.Good luck to all
Ciao for now
  • #125,807
  • Mar 10, 2009 4:56am Mar 10, 2009 4:56am
Just a quick question, for all you guys who have a bearish bias (which I assume is pretty much everybody), what kind of margin do you give your stop loss in a situation like the one we have now? reason I am asking is, I also agree the pound is probably going down, but in the short term it can definitely rebound, who knows, 100, 200 pips, so if I go short now I would need to put a pretty wide stop loss which doesn't really fit into my current money management (basically because my account is pretty small).
  • #125,808
  • Mar 10, 2009 4:56am Mar 10, 2009 4:56am
Yeah,

Frankly,
I don't expect that low, with today's movement.
She's sort of "Wafting in the Wind" - almost aimlessly now
it appear's... rally up/ralley down!

We'll see what the next hr' brings, -but i'm inclined to...
Just Shut err all down, get a nap before taking my daughter
to school!

Thanks E...

Jeff !
I will work to Objectively Identify my Edges
  • #125,809
  • Mar 10, 2009 5:06am Mar 10, 2009 5:06am
I Just opened long, 1st TP is 50 pips SL is 70 pips, let's see if this one will win or lose
My edge ===> Patience
  • #125,810
  • Mar 10, 2009 5:11am Mar 10, 2009 5:11am
Quoting sofia101
I agree a 100% and yes you are right I work on not having big EGO,lol It's a male prerogative
erk, I'm offended
I think you meant the clash of egos in trading as a gambler's prerogative. Proper traders with different perspective in the "hole" had demonstrated the complete opposite so far don't you think
Thank You
  • #125,811
  • Mar 10, 2009 5:19am Mar 10, 2009 5:19am
GBPUSD go to 1.3956 ??
  • #125,812
  • Mar 10, 2009 5:32am Mar 10, 2009 5:32am
Quoting Tenshi28
Just a quick question, for all you guys who have a bearish bias (which I assume is pretty much everybody), what kind of margin do you give your stop loss in a situation like the one we have now? reason I am asking is, I also agree the pound is probably going down, but in the short term it can definitely rebound, who knows, 100, 200 pips, so if I go short now I would need to put a pretty wide stop loss which doesn't really fit into my current money management (basically because my account is pretty small).
Tenshi,

I've got to crash... (sleep)zzz
I would just say if it depends on your paticular money mgmt.,
and this is not a "great place" for you to "market in' short,
-then don't do it.

I just got out of a trade,
making pips, though short is the L.T. direction it's really
up/down & sideways today.
-Your call,
But make your "Solidier", as eO calls them "small," i would say.
-Like Auslanco's Money Mgmt. Guide. 2% being your total s.l. amt.
-Sorry to blabber on, hope that helps 'bit.

Jeff !
I will work to Objectively Identify my Edges
  • #125,813
  • Mar 10, 2009 5:42am Mar 10, 2009 5:42am
i think, down sideways today
wave analysis, hourly
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  • #125,814
  • Mar 10, 2009 5:49am Mar 10, 2009 5:49am
well those 23.6 retracement levels are holding well so far. I was looking at the 4h 10sma around 3909 as a first sell entry but we didn't even make it there
  • #125,815
  • Mar 10, 2009 6:01am Mar 10, 2009 6:01am
Quoting aisterling
GBPUSD go to 1.3956 ??
Hi Aisterling would you mind posting a chart to support this please?

Im thinking exactly the same thing and have highlighted my prefered selling area in blue rectangle
Attached Image (click to enlarge)
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  • #125,816
  • Mar 10, 2009 6:13am Mar 10, 2009 6:13am
Haven't dropped in here for awhile, ah well , a quick note, I notice a 2 day cycle with cable, if it gives a 300-500 pip move in one day, you can almost be assured the next day (or most of the day) will be a breather. It's not therefore surprising that we are in this bear flag. Good for scalping. If you recognize this, you won't be whipsawed and lose the pips you made yesterday. But what a sweet break eventually.
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  • #125,817
  • Mar 10, 2009 6:28am Mar 10, 2009 6:28am
Quoting PipLand
Hi Aisterling would you mind posting a chart to support this please?

Im thinking exactly the same thing and have highlighted my prefered selling area in blue rectangle
I get that too pipland. My fibo from the 7th march high of 1.4303 and 10th march low of 1.3742 shows me resistance @ 1.3956 on 15 min chart.
  • #125,818
  • Mar 10, 2009 6:33am Mar 10, 2009 6:33am
The 1.3750 support zone and 76.8% retracement is holding atm..If the blue TL holds than the retracement at least to the red TL (1.4076 area) should be it limit before falling back to test the support zone and test the lows 1.3500.

IMHO

Attached Image (click to enlarge)
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  • #125,819
  • Mar 10, 2009 6:36am Mar 10, 2009 6:36am
hmmmm . . .i see
  • #125,820
  • Mar 10, 2009 6:41am Mar 10, 2009 6:41am
Quoting liquidmoment
I get that too pipland. My fibo from the 7th march high of 1.4303 and 10th march low of 1.3742 shows me resistance @ 1.3956 on 15 min chart.

Yeah im thinking now it might not get that far, Godfrey is right we are in a bear flag so we might not see as high as 1.395x but 1.3925 might be a more realistic target. I will watch and wait
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