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Cable Update (GBPUSD)

  • #150,601
  • Jul 24, 2009 8:05am Jul 24, 2009 8:05am
Yeah, going long in an uptrend channel is usually a better idea than shorting at the top. In terms of momentum anyways,

I agree with USDCAD, I want a nice spike through some stops then hop on once profit taking starts.
  • #150,602
  • Jul 24, 2009 8:05am Jul 24, 2009 8:05am
Quoting ams
He is not wrong in saying to hold stocks...for long term period on cash not leverage.

This is for long term but IMO, market has come UP very quickly..I know there is a reason that QE is done by the gov but that doesn't explain market going up so easy...it will take a hit soon then go back up again for people like us who are dependant on leverage, we should ignore these words..

ams
seeing as Fri's are usually freaky in the trading game i'll go with y our call...still holding my EU shot from 4250 - moved sl to +20 so at least i'll take something if Buffett does rally th market!! cheers again mate.

Gaz
  • #150,603
  • Jul 24, 2009 8:06am Jul 24, 2009 8:06am
GU find his support at 6402

Attached Image (click to enlarge)
Click to Enlarge Name: forex2.GIF Size: 15 KB


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support resistance

.
  • #150,604
  • Jul 24, 2009 8:12am Jul 24, 2009 8:12am
I think we would see another ranging NY session again. Most move already happened in Asian and Europe last nite. Guess, I would have an early week-end then ..
  • #150,605
  • Jul 24, 2009 8:15am Jul 24, 2009 8:15am
Quoting mktjong
BE set too soon

Too soon eh?....
Ghost Rider - WWTBMD?
  • #150,606
  • Jul 24, 2009 8:16am Jul 24, 2009 8:16am
Quoting albchr
Too soon eh?....
.. u'r rite.
  • #150,607
  • Jul 24, 2009 8:18am Jul 24, 2009 8:18am
Quoting errich fx
GU find his support at 6402

Attachment

_________________________

support resistance

.
...rising trendline in H4
  • #150,608
  • Jul 24, 2009 8:21am Jul 24, 2009 8:21am
Hi all I want to know where GU will move!!

Long or continue sort for this weekend?
Please give me some PIPS
  • #150,609
  • Jul 24, 2009 8:21am Jul 24, 2009 8:21am
Quoting mktjong
.. u'r rite.

I still think she's going down so a slightly better entry at 6432...and yes...at BE again....

If it takes me out, no loss. If it runs, we eat for another month. It's the little things in life that matter...LOL
Ghost Rider - WWTBMD?
  • #150,610
  • Jul 24, 2009 8:25am Jul 24, 2009 8:25am
Quoting albchr
I still think she's going down so a slightly better entry at 6432...and yes...at BE again....
yeah...me too..lets wait for upcoming news to see what actually happen..
K.I.S.S -> Keep It Super Simple...
  • #150,611
  • Jul 24, 2009 8:26am Jul 24, 2009 8:26am
Quoting albchr
I still think she's going down so a slightly better entry at 6432...and yes...at BE again....
I think, it's better short EURUSD than GBPUSD

---------------

patterns
  • #150,612
  • Jul 24, 2009 8:28am Jul 24, 2009 8:28am
Quoting cili82
yeah...me too..lets wait for upcoming news to see what actually happen..
If a good news, how you set TP?
Please give me some PIPS
  • #150,613
  • Jul 24, 2009 8:28am Jul 24, 2009 8:28am
4hour uptrend. Just have to wait for this 5minute downtrend to break. Then it'll be back to 16480.
  • #150,614
  • Jul 24, 2009 8:32am Jul 24, 2009 8:32am
Quoting KillPhil08
4hour uptrend. Just have to wait for this 5minute downtrend to break. Then it'll be back to 16480.
im in on this one!
Keep It Simple Stupid
  • #150,615
  • Jul 24, 2009 8:33am Jul 24, 2009 8:33am
Quoting indo_trader
If a good news, how you set TP?
use fib...maybe if good news i'll take it to 23.6%...maybe @6469..??
K.I.S.S -> Keep It Super Simple...
  • #150,616
  • Jul 24, 2009 8:34am Jul 24, 2009 8:34am
Quoting Alastair
im in on this one!
i'm in too..!!
K.I.S.S -> Keep It Super Simple...
  • #150,617
  • Jul 24, 2009 8:36am Jul 24, 2009 8:36am
Got to be kidding/
  • #150,618
  • Jul 24, 2009 8:37am Jul 24, 2009 8:37am
Quoting MrTrendy
my fib pivot levels for GU:

6508 pivot
6450 S1
6413 S2
6357 S2

anyone in this ballpark?

cheers
MT
levels to watch
  • #150,619
  • Jul 24, 2009 8:39am Jul 24, 2009 8:39am
Is anyone trading cabble like this:

You open a smaller position in the begining, buying.

If market falls, you open a new buy position when i goes through a pivot/every 50 pips.

You get some swap for all the positions... and by the time your first position gets to BE you are way in profit.

If the market drops and you feel it will be a bear market for a day/asia session/bad news/whatever you just hedge the position. If hedged right, you close the hedged position on the retracements up from the downwaves and sell again on the tops(if you feel it will go lower). This gives you a nice profit as sometimes you make 100 pips on a 70 pips move down(due to the wavelike movement) and even if you get only 50 pips for a 100 pips movement, with the positions added long and so on, by the time you get to BE you will be way in proffit anyway...

I`m only trading long like this becouse a short now might get me in trouble if the price never returns, while with a long you can be 100% sure it will return.(as the pound will recover one day to it` previous values) Also long positions add some intrest(positive swap).

I know it may not be the best place to ask but i wanted to know...
  • #150,620
  • Jul 24, 2009 8:43am Jul 24, 2009 8:43am
Quoting lbr
Hey man!
Did you resolve the issue with zulu already?
Btw nice trading this week so far! I am sure it will continue in the future. I have recomended you as a signal provider to some other traders as well.
if you trade that badly, then i cannot grow the account

every time i take it up, your trading wrecks havoc

stop being greedy please.
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