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Cable Update (GBPUSD)

  • #138,501
  • Jun 19, 2009 9:31am Jun 19, 2009 9:31am
Quoting biax
quit for 50 pips short...

happy green pips all!

let's see the market next week!

time to make love with my GF

HAPPY WEEKEND DUDE
  • #138,502
  • Jun 19, 2009 9:32am Jun 19, 2009 9:32am
This up& down from 6385 to 6405 is a scalper`s heaven

I only took longs and already make 24 pips... i`m still expecting it to go higher.... but we will see...
  • #138,503
  • Jun 19, 2009 9:34am Jun 19, 2009 9:34am
Quoting alexandru987
Now try to predict what happens next week.... ^.^
Seeing as it's been in a very strong uptrend since early March and that since after the highs above 1.66 like wormboy says it's been ranging, wouldn't one favor going along with the trend? Isn't the probability of this strong uptrend continuing higher than the probability of a downtrend starting?
Doh! I didn't mean to do that.
  • #138,504
  • Jun 19, 2009 9:37am Jun 19, 2009 9:37am
Quoting alexandru987
This up& down from 6385 to 6405 is a scalper`s heaven

I only took longs and already make 24 pips... i`m still expecting it to go higher.... but we will see...
altho i am short, im thinking of sunday trade and it will be nice if it break the weekly high at 1.6507, this will set me up for sunday and all of next week trading.
  • #138,505
  • Jun 19, 2009 9:41am Jun 19, 2009 9:41am
you follow your system for the whole week and everthing works out fine, then friday comes and nothing seems to work according to your system, why? if you can answer this then you are a very very good trader.
  • #138,506
  • Jun 19, 2009 9:41am Jun 19, 2009 9:41am
Quoting jack.canadia
Nice little break out I see!

Let's see if she can hold ..

The best long now imo is a dip to 6400 .. Daily m3, a 50% and the upp trendline.
Anyone long off the TL?
  • #138,507
  • Jun 19, 2009 9:42am Jun 19, 2009 9:42am
Quoting *Pipster*
Seeing as it's been in a very strong uptrend since early March and that since after the highs above 1.66 like wormboy says it's been ranging, wouldn't one favor going along with the trend? Isn't the probability of this strong uptrend continuing higher than the probability of a downtrend starting?
I only took long positions this week... mainly becouse i was never awake when it dropped(during the night or early morning for me)

And yes i think it will go higher eventually, it might drop a little to get strenght to retest the highs.... but in the end it will go higher.... right now if it drops under the daily pivot i`ll do my first hedge... but right now i`m glad i added longs... and scalped with long bias in mind...

I don`t see any reason for the investors to panic and start selling...

All i see is that it dropped, retested the 200 ma on my 5 min chart, got rejected, and went back up... it`s now trying to get back above the 60 MA
  • #138,508
  • Jun 19, 2009 9:45am Jun 19, 2009 9:45am
Quoting Ipips
I am back long from 1.6391 now.. could be a scalp..maybe more. S/L to B/E..
Ipips good man .. thats how you buy after a break out. Wait for a dip an re-test

Your position has a high probability of success if the breakout of that triangle is true.

I would hold it and keep a stop at about +10
  • #138,509
  • Jun 19, 2009 9:46am Jun 19, 2009 9:46am
Quoting jack.canadia
Ipips good man .. thats how you buy after a break out. Wait for a dip an re-test

Your position has a high probability of success if the breakout of that triangle is true.

I would hold it and keep a stop at about +10
Maybe target today's high so far or even just under 6500.
  • #138,510
  • Jun 19, 2009 9:46am Jun 19, 2009 9:46am
Quoting jack.canadia
Anyone long off the TL?
Me!! I was long from 1.6391. Remembered your post that it could pull back to 1.6400. Now +30 pips.

Thanks!
  • #138,511
  • Jun 19, 2009 9:46am Jun 19, 2009 9:46am
short traders start bragging then long stood up, now the short traders looking up. for me
  • #138,512
  • Jun 19, 2009 9:47am Jun 19, 2009 9:47am
Quoting Ipips
Me!! I was long from 1.6391. Remembered your post that it could pull back to 1.6400. Now +30 pips.

Thanks!


Patience pays off brother
  • #138,513
  • Jun 19, 2009 9:47am Jun 19, 2009 9:47am
Quoting MoeFx
short traders start bragging then long stood up, now the short traders looking up. for me
I made +50 on my short, but did not revert to long.
  • #138,514
  • Jun 19, 2009 9:52am Jun 19, 2009 9:52am
Quoting jack.canadia
I made +50 on my short, but did not revert to long.
i made nothing im on the side lines now hoping it does take out the weekly high of 1.6509 it will make for a better next week, i think this was one of the easy weeks to trade. good job.
  • #138,515
  • Jun 19, 2009 9:53am Jun 19, 2009 9:53am
Quoting MoeFx
i made nothing im on the side lines now hoping it does take out the weekly high of 1.6509 it will make for a better next week, i think this was one of the easy weeks to trade. good job.
ya i think this week ties if not beats my last, best week of trading .. although i did have alot more time to trade this week also, so that may have helped.
  • #138,516
  • Jun 19, 2009 9:57am Jun 19, 2009 9:57am
Quoting jack.canadia
ya i think this week ties if not beats my last, best week of trading .. although i did have alot more time to trade this week also, so that may have helped.
Jack, the 1.6480 region seems to be a major resistance area. I am thinking of shorting again at that point, do you think its feasible?
You've got to be IN IT to WIN IT!
  • #138,517
  • Jun 19, 2009 9:58am Jun 19, 2009 9:58am
Stocks back at the highs of the day...

See? The bulls refused to run when they saw the bear.... And made money on the way up...

Seems it`s getting rejected again.... still fighting for it though... i`m not sure it has the volume to push through as it`s friday and pretty late in the day.... but hope never dies.
  • #138,518
  • Jun 19, 2009 10:01am Jun 19, 2009 10:01am
I am now long for 6462 exit
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  • #138,519
  • Jun 19, 2009 10:05am Jun 19, 2009 10:05am
Hey All, I really like this thread, especially because it is consistent with my method of trading...Fibs and Swing Highs and Lows.

Nice long at 1.6387...watching out for short at 1.6457
Hero Traders Live to see their Accounts Die!
  • #138,520
  • Jun 19, 2009 10:05am Jun 19, 2009 10:05am
Quoting forexlion
I am now long for 6462 exit
i call this trading strategy as " kiss and run ", trade strong trend for quick money and exit fast.
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