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Cable Update (GBPUSD)

  • #130,381
  • Apr 23, 2009 10:47am Apr 23, 2009 10:47am
yes 1.4660 on the 15 minute looks a decision point back at 7am eastern - the one where it went for a wee header...

If it romps through there then we are off up with even more conviction

I will capitulate on my little short at that point

Dow off 60
  • #130,382
  • Apr 23, 2009 10:51am Apr 23, 2009 10:51am
i left hanging sell in 4573
should i drop it?
.......
- Always pray on your trading - God know the best for everyone
  • #130,383
  • Apr 23, 2009 10:53am Apr 23, 2009 10:53am
Quoting kingindian
i left hanging sell in 4573
should i drop it?
.......
sure it will move down beucase market already moved up 135 pips so it will make correction so it will go back but not sure how much deep it will go down but it is sure that it will go down entering sell now

Ub
  • #130,384
  • Apr 23, 2009 10:58am Apr 23, 2009 10:58am
Quoting kingindian
i left hanging sell in 4573
should i drop it?
.......
stop lossessssss .... if you have a position that is at least 20 pips green, move the stop to breakeven (that is, if you entered on a low timeframe chart)
  • #130,385
  • Apr 23, 2009 11:03am Apr 23, 2009 11:03am
Quoting ubaidahsan
sure it will move down beucase market already moved up 135 pips so it will make correction so it will go back but not sure how much deep it will go down but it is sure that it will go down entering sell now

Ub
i already dropped it
i dont have courage to take risk
- Always pray on your trading - God know the best for everyone
  • #130,386
  • Apr 23, 2009 11:19am Apr 23, 2009 11:19am
Current stats are 8 to 1 that cable will probably complete its average daily range at around 1.4670. Looking for a close below 1.4630 as my signal to go short after that. Can anyone give me their take on that?
  • #130,387
  • Apr 23, 2009 11:24am Apr 23, 2009 11:24am
anybody shoot for 4700?
- Always pray on your trading - God know the best for everyone
  • #130,388
  • Apr 23, 2009 11:24am Apr 23, 2009 11:24am
Based on what I see, there is a high probability for a retracement.

We have run into the daily R1 pivot point and are also bearish diverging on the 5-min MACD.

I am not taking a position on this rather waiting for either one of the three white areas to hold on the downside to jump aboard the long bus.

This plan is negated if we break higher than 4650/60.
Attached Image (click to enlarge)
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  • #130,389
  • Apr 23, 2009 11:25am Apr 23, 2009 11:25am
Quoting kingindian
anybody shoot for 4700?
Risk/reward is too high to go long now.

I am out of my longs.
  • #130,390
  • Apr 23, 2009 11:26am Apr 23, 2009 11:26am
It might be likely if it still has momentum after completing its average range. Although momentum looks to be tailing off now. Might not even complete the range.
Quoting kingindian
anybody shoot for 4700?
  • #130,391
  • Apr 23, 2009 11:39am Apr 23, 2009 11:39am
i think i need a rest
after the last transaction i will say goodbye
- Always pray on your trading - God know the best for everyone
  • #130,392
  • Apr 23, 2009 11:43am Apr 23, 2009 11:43am
Short from 4641 until buying lower. I said no positions, but the conditions for me met up for a short and I like trading pivots so the trigger was pulled.
  • #130,393
  • Apr 23, 2009 11:48am Apr 23, 2009 11:48am
we reached to top on the channel. with overbought mode. and 3 little soldiers in 30m tf. Returning to the roots 1.4350
  • #130,394
  • Apr 23, 2009 11:56am Apr 23, 2009 11:56am
Quoting Terminale
we reached to top on the channel. with overbought mode. and 3 little soldiers in 30m tf. Returning to the roots 1.4350
Looks like a break out with bullish divergence on the 4-hour to me.
Attached Image (click to enlarge)
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  • #130,395
  • Apr 23, 2009 11:56am Apr 23, 2009 11:56am
hi jack, I follow your trades, congratulations for your pips, I keep my 2 shorts at from 4645 and 4525... and just wait to add one more around 4625-4645 as soon as the bulls start to loosing their powers...
Chief Member of 220 mph Riders Club...
  • #130,396
  • Apr 23, 2009 11:59am Apr 23, 2009 11:59am
... until hour bar close, then will consider joining those of you who have already gone short. At this time, odds have dropped to 5 to 1 to complete daily average range any higher.
  • #130,397
  • Apr 23, 2009 11:59am Apr 23, 2009 11:59am
Quoting kanji
hi jack, I follow your trades, congratulations for your pips, I keep my 2 shorts at from 4645 and 4525... and just wait to add one more around 4625-4645 as soon as the bulls start to loosing their powers...
How come short from 4525?
  • #130,398
  • Apr 23, 2009 12:00pm Apr 23, 2009 12:00pm
Quoting Terminale
we reached to top on the channel. with overbought mode. and 3 little soldiers in 30m tf. Returning to the roots 1.4350
i saw it too in tf 30, maybe it will goes down in next hours
back to 45xx
- Always pray on your trading - God know the best for everyone
  • #130,399
  • Apr 23, 2009 12:06pm Apr 23, 2009 12:06pm
from yesterday, it was open, I do not use stop loss that why it is open, and my one week target is around 4355 4160 so I did not close it..
Chief Member of 220 mph Riders Club...
  • #130,400
  • Apr 23, 2009 12:06pm Apr 23, 2009 12:06pm
Still bullish. Correction over? Headed for 4700?
In all your ways acknowledge Him and He will direct your path.
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