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Cable Update (GBPUSD)

  • #150,961
  • Jul 26, 2009 2:51pm Jul 26, 2009 2:51pm
Ive just let you know if that was an hourly chart that would be 40 pips not a weekly how could it be 40 pips?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,962
  • Jul 26, 2009 2:52pm Jul 26, 2009 2:52pm
400 odd pips is not exactly excessive for a week?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,963
  • Jul 26, 2009 3:00pm Jul 26, 2009 3:00pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting donfriday
hey mate whats up with ya...not even a call....
Its ok bros . will talk.
Good trading
I like the Big Dogs because I trade like them
  • #150,964
  • Edited 4:12pm Jul 26, 2009 3:04pm | Edited 4:12pm
hi guys

i was long on friday at 1.6523 .. it turned out too bad .. i was down over 100 pips..

right now it -60pips .. should i closed the trade ?

do you guys think that it will shoot to previous resistant?

should i waite to breakeven ? or close right now ?

your view is apreciated..

shaggy

edited: I am out at -61pips . . its better to close then going through emotional HELL .. Looks like there will be lot more opportunity this week .. with peacefull mind, we can pull trigger much better..
  • #150,965
  • Jul 26, 2009 3:14pm Jul 26, 2009 3:14pm
Quoting wormboy
Many people have said many things here.
I only have friendly reminders to those who are new to this business.
Master the higher tf. Slow & steady gain is the way to go. Unless you're already sitting on a pile of millions. But you wouldn't be here if you had that pile would you
Good luck friends, see you guys london session.
Spot on..... 5 mins 10 mins..1 min.....malcomb and these other guys that trade these lower timeframes know there markets..........man....cant be trading that....I agree with you totally master the higher timeframes first....
Let Price determine your future!
  • #150,966
  • Jul 26, 2009 3:31pm Jul 26, 2009 3:31pm
Well it`s @ 1.6465-1.6470ish so i guess we are going up...

That means it`s up above the pivot and i`m not sure it can go lower anymore...
  • #150,967
  • Jul 26, 2009 3:34pm Jul 26, 2009 3:34pm
Quoting alexandru987
Well it`s @ 1.6465-1.6470ish so i guess we are going up...

That means it`s up above the pivot and i`m not sure it can go lower anymore...

Don't forget to take into account those who trade the gap--- it'll go down more than likely before continuing up.

Where it's at right now is the UTL for 1hr charts.
--- Gone --- RIP 11/27/09
  • #150,968
  • Jul 26, 2009 4:15pm Jul 26, 2009 4:15pm
The possible reason I am thinking to gap up (40 pips+) is currently the Asian Equities Market (Nikki) is in +150 and that is why G/U is in 1.6470 area. Thanks God I didn't have any short position from Friday.

Based on the gap up I am thinking to have buy order @1.6420 area to catch the bird because by Monday morning it might be in 1.6550 area


Alqaz Syed.
  • #150,969
  • Jul 26, 2009 4:48pm Jul 26, 2009 4:48pm
Bernanke to speak in just over a hour . to be recorded and broadcast over the next 3 days. as forex factory says any financial hints will soon be leaked out.
  • #150,970
  • Jul 26, 2009 4:50pm Jul 26, 2009 4:50pm
Retest of the prievious H on H4 will not surprise me at all,indeed I might eves scalp to the upside, yet I expect larger trades taking short positions for the next several days. Because of this tight range, I am not considering hedging my position with options, though I am tempted to get some Sepember's calls now, and load some more at the end of the month.
The advantage of having calls will anable me to short the market without a SL, take as much as I can on shorts now and then sell the calls later on with some profit. The only restriction atm is this very narrow range which makes this arrangement more costly, the advantage is shorting without SL if the ratios of calls are well geared to the established short positions.
In any case I shall wait till the London's opening.
Many good trades to all, might write more when not trading.
Make sure losses are small and profits are bigger!
  • #150,971
  • Edited 5:07pm Jul 26, 2009 5:06pm | Edited 5:07pm
I have only two things to say to those who claim you can't profit from the 4 & 1 hour. Planned from the 4H, traded from the 1H

The plan...

http://www.forexfactory.com/showpost...ostcount=34932

The results...

http://www.forexfactory.com/showpost...stcount=140258

One trade, standard lots, I'll let you do the math...
Ghost Rider - WWTBMD?
  • #150,972
  • Edited Jul 27, 2009 2:13pm Jul 26, 2009 5:08pm | Edited Jul 27, 2009 2:13pm
i opened a small swing trade, i think its not the worst place to take a short trade..

good luck
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  • #150,973
  • Jul 26, 2009 5:11pm Jul 26, 2009 5:11pm
Quoting GlobalMacro
Cable is trading @ 1.6475 right now ... this is a gap of +53 pips from friday's close.

HUH? ...Are you sure you're looking at cable? My feed shows a 15 pip difference. Friday closed at 6428, opened at 6443.
Ghost Rider - WWTBMD?
  • #150,974
  • Jul 26, 2009 5:16pm Jul 26, 2009 5:16pm
In UK, there is a few trading firm with different times
IG index start at 21.00 UK time while the rest 22.00. There is one TD waterhouse which start at 20.00
So different starting time will give you guys different opening price.
If encounter this opening price problem for your chart, refer to www.xe.com
This site gives the accurate price anytime although it is no real time but delay by 1 minute or so.

Hope this clear the air...
  • #150,975
  • Jul 26, 2009 5:17pm Jul 26, 2009 5:17pm
Sitting right on my S/R 6430. If it breaks my TL at 6402 I'll short to 6330...
Ghost Rider - WWTBMD?
  • #150,976
  • Jul 26, 2009 5:20pm Jul 26, 2009 5:20pm
Quoting albchr
HUH? ...Are you sure you're looking at cable? My feed shows a 15 pip difference. Friday closed at 6428, opened at 6443.
I have the same close as you 6427. but open at 1.6468. I open a short at 1.6466.
  • #150,977
  • Jul 26, 2009 5:20pm Jul 26, 2009 5:20pm
Quoting asyed4
The possible reason I am thinking to gap up (40 pips+) is currently the Asian Equities Market (Nikki) is in +150 and that is why G/U is in 1.6470 area. Thanks God I didn't have any short position from Friday.

Based on the gap up I am thinking to have buy order @1.6420 area to catch the bird because by Monday morning it might be in 1.6550 area


Alqaz Syed.
Nikkie does not open for another 1hr 40 min .... you must have some sort of time machine that takes you forward in time ....
Blogging daily now at www.volume.zone
  • #150,978
  • Jul 26, 2009 5:23pm Jul 26, 2009 5:23pm
Quoting albchr
I have only two things to say to those who claim you can't profit from the 4 & 1 hour. Planned from the 4H, traded from the 1H

The plan...

http://www.forexfactory.com/showpost...ostcount=34932

The results...

http://www.forexfactory.com/showpost...stcount=140258

One trade, standard lots, I'll let you do the math...
now do that with 80% accuracy , one right call does not make a trader ..... that is what I get day trading a 5 min chart with often only spread as draw down
Blogging daily now at www.volume.zone
  • #150,979
  • Jul 26, 2009 5:24pm Jul 26, 2009 5:24pm
Quoting rapidsagii
In UK, there is a few trading firm with different times
IG index start at 21.00 UK time while the rest 22.00. There is one TD waterhouse which start at 20.00
So different starting time will give you guys different opening price.
If encounter this opening price problem for your chart, refer to www.xe.com
This site gives the accurate price anytime although it is no real time but delay by 1 minute or so.

Hope this clear the air...
Yep, that's it. FXpro feed opened at 6460 closed 6419 LOL
Ghost Rider - WWTBMD?
  • #150,980
  • Jul 26, 2009 5:24pm Jul 26, 2009 5:24pm
Quoting albchr
HUH? ...Are you sure you're looking at cable? My feed shows a 15 pip difference. Friday closed at 6428, opened at 6443.
1.6443 was touch at 5:30 half hour after the opening. On my platform
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