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Cable Update (GBPUSD)

  • #133,021
  • May 19, 2009 3:03pm May 19, 2009 3:03pm
Quoting nAVIN2007
where did u enter and whats the drawdown pip wise?
i m stuck in 2 shorts and again unfortunately forgot to put SL and since morning doing trade with SL and getting success but stuck in 2 trades i had decided will enter in market only in buy but when i saw that market is too much up so i entered to short yesterday which is showing me -300 and more now

Ub
  • #133,022
  • May 19, 2009 3:07pm May 19, 2009 3:07pm
same here man dont worry!
  • #133,023
  • May 19, 2009 3:09pm May 19, 2009 3:09pm
Quoting ubaidahsan
i m stuck in 2 shorts and again unfortunately forgot to put SL and since morning doing trade with SL and getting success but stuck in 2 trades i had decided will enter in market only in buy but when i saw that market is too much up so i entered to short yesterday which is showing me -300 and more now

Ub
the truth is technically 1.54 will likely hold but i think yur best chance is to get down there and when that happens cause im sure it will get tested sooner or later u need to place a SL above the most recent high...then if it goes down u have a chance...

u have to be carefull cause this can go to 1.55329 then 1.57198

bro, dont trade without stop loss its not worth the pain....make it golden rule
  • #133,024
  • May 19, 2009 3:12pm May 19, 2009 3:12pm
Quoting nAVIN2007
the truth is technically 1.54 will likely hold but i think yur best chance is to get down there and when that happens cause im sure it will get tested sooner or later u need to place a SL above the most recent high...then if it goes down u have a chance...

u have to be carefull cause this can go to 1.55329 then 1.57198

bro, dont trade without stop loss its not worth the pain....make it golden rule
you are right now i got lesson and will remmber that Golden rule ever..i heared that GU wil touch 1.6xx till end of this year but as it is going up so it can touch 1.6xx in next 1-2 weeks :O but its surprising that its going without correction

Ub
  • #133,025
  • May 19, 2009 3:17pm May 19, 2009 3:17pm
Quoting nAVIN2007

today i have been long,short and keep losing
I think I'll never catch you alongside the bs "traders" who made a kajillion pips trading here at the factory.
You have my upmost respect for your trading ability and sincerity bro
Thank You
  • #133,026
  • May 19, 2009 3:27pm May 19, 2009 3:27pm
Hey people
Navin's monthly chart was good.............IMHO opinion this was just due to the fact that GBP was very oversold in monthly chart.............May is the month normally they sell equities............ still a time till end of month , Think this month candle can have a big pin on top .......there is a huge resistance they may start selling today/tomorrow .............we may see at least 200 pips down .......I have a short from 1.53 don't want to ditch it............
Attached Image (click to enlarge)
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BANDA333
  • #133,027
  • May 19, 2009 3:35pm May 19, 2009 3:35pm
Quoting wormboy
I think I'll never catch you alongside the bs "traders" who made a kajillion pips trading here at the factory.
You have my upmost respect for your trading ability and sincerity bro
thank you
u know i think exactly the same for u...
  • #133,028
  • May 19, 2009 3:44pm May 19, 2009 3:44pm
Quoting ubaidahsan
you are right now i got lesson and will remmber that Golden rule ever..i heared that GU wil touch 1.6xx till end of this year but as it is going up so it can touch 1.6xx in next 1-2 weeks :O but its surprising that its going without correction

Ub
the move down didnt respect the support levels, it just broke them like theres no floor( no traffic) so moving up will be similiar since little consolidation, it will never be as quick but quicker than in the past (me thinks)

i wish u luck my friend
  • #133,029
  • May 19, 2009 3:54pm May 19, 2009 3:54pm
Quoting nAVIN2007
the move down didnt respect the support levels, it just broke them like theres no floor( no traffic) so moving up will be similiar since little consolidation, it will never be as quick but quicker than in the past (me thinks)

i wish u luck my friend

Support and resistance levels only work during Choppy / ranged markets, trend created by supply and demand is key to Forex.

If we where talking about Stocks ie ( MSFT ) then it's be a entirely different story.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #133,030
  • May 19, 2009 4:11pm May 19, 2009 4:11pm
Looks like 1.5520 will hold for the upside. Missed Target of 1.5530 by +10pips. Back on the short side @ 1.5510 ..... SL 1.5560..... 1st TP 1.5380 and 2nd TP 1.5270.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,031
  • May 19, 2009 4:23pm May 19, 2009 4:23pm
I have a short from 1.55 ..........can only short broker only let one way at a time........so to save other short @1.53 only shorts, if clear 1.56 take a lose and only work on EUJPY seems like soross manipulate GBP/$ a lot

Quoting Bull_Bear
Looks like 1.5520 will hold for the upside. Missed Target of 1.5530 by +10pips. Back on the short side @ 1.5510 ..... SL 1.5560..... 1st TP 1.5380 and 2nd TP 1.5270.
BANDA333
  • #133,032
  • May 19, 2009 4:33pm May 19, 2009 4:33pm
Quoting BANDA
I have a short from 1.55 ..........can only short broker only let one way at a time........so to save other short @1.53 only shorts, if clear 1.56 take a lose and only work on EUJPY seems like soross manipulate GBP/$ a lot
Hopeful that 1.5520/50 will hold. I've target that level form a couple of session back. see how.......Gotta run.....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,033
  • May 19, 2009 4:38pm May 19, 2009 4:38pm
you changed from shorts to long as noticed that was a good thing.......now you can short with a good R/R ratio..........Navins chart was a good eye opener.......

Quoting Bull_Bear
Hopeful that 1.5520/50 will hold. I've target that level form a couple of session back. see how.......Gotta run.....
BANDA333
  • #133,034
  • May 19, 2009 9:24pm May 19, 2009 9:24pm
I'm kind of new at this, but is there a head and shoulders forming for GBPUSD? I see it on the M30 and H1 charts. It would seem to confirm Jack's .5365 speculation.

Thanks for all the comments over the last six weeks. Everyday has been an education of one kind or another.
  • #133,035
  • May 19, 2009 9:36pm May 19, 2009 9:36pm
This month cable has been gaining almost 700 point its about 5%, why I've feeling that cable should make some correction first before to continue its current up trend. Anybody have an idea the next cable move, should it continue up or make correction.
  • #133,036
  • May 19, 2009 10:23pm May 19, 2009 10:23pm
I'm for correction up to 1.5380, then it may move back to 1.5525
Never Stop Learning...
  • #133,037
  • May 19, 2009 11:12pm May 19, 2009 11:12pm
Quoting chonyc
I'm for correction up to 1.5380, then it may move back to 1.5525
Base on what reason??http://www.forexfactory.com/images/icons/icon6.gif
  • #133,038
  • May 19, 2009 11:22pm May 19, 2009 11:22pm
Quoting whytomwhy
I'm kind of new at this, but is there a head and shoulders forming for GBPUSD? I see it on the M30 and H1 charts. It would seem to confirm Jack's .5365 speculation.

Thanks for all the comments over the last six weeks. Everyday has been an education of one kind or another.
but didn't confirm yet
  • #133,039
  • May 20, 2009 1:07am May 20, 2009 1:07am
morning all. This is getting difficult to trade but my (long-term) bias is Long (possible 1.70). Today??
  • #133,040
  • May 20, 2009 1:12am May 20, 2009 1:12am
Quoting free4440273
morning all. This is getting difficult to trade but my (long-term) bias is Long (possible 1.70). Today??
What charts are you looking at to even think that is a possibility today?
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