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Cable Update (GBPUSD)

  • #152,461
  • Jul 29, 2009 9:34am Jul 29, 2009 9:34am
Unexpected rise in Crude Inventories. That should cause strength in USDollar.

Therefore sell GBP/USD
  • #152,462
  • Jul 29, 2009 9:34am Jul 29, 2009 9:34am
we r diving
  • #152,463
  • Jul 29, 2009 9:36am Jul 29, 2009 9:36am
Quoting albchr
I'm still thinking a short from 6460 would be good but I ain't afraid to admit my confidence is a bit shaken buddy...LOL
I know Chris its call psyc of trading..... Thats what kills people's account.

My 1.6460 short is unfolding slowly..... As long as EUR/GBP stabilises and US keeps gaining on majors cable will give back.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,464
  • Jul 29, 2009 9:36am Jul 29, 2009 9:36am
I wait for buy

patience



----------

S + R = $$

.
  • #152,465
  • Jul 29, 2009 9:37am Jul 29, 2009 9:37am
anyone with access to the H2 chart might want to take a peep.
Strong sellers
Thank You
  • #152,466
  • Jul 29, 2009 9:38am Jul 29, 2009 9:38am
Quoting grashid
M15 told u the best for long just now ~ 1.6348-1.6487 (S1/S2) area...double bottom pattern...
Must have missed that one buddy. If I hadn't freaked, I'd be in profit on both now. Ain't it always the way?
Ghost Rider - WWTBMD?
  • #152,467
  • Jul 29, 2009 9:38am Jul 29, 2009 9:38am
System adjusted original T/P from 1.6300 to 1.6320. Still looking for that area. Maybe today???
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  • #152,468
  • Jul 29, 2009 9:39am Jul 29, 2009 9:39am
Quoting Bull_Bear
I know Chris its call psyc of trading..... Thats what kills people's account.

My 1.6460 short is unfolding slowly..... As long as EUR/GBP stabilises and US keeps gaining on majors cable will give back.
Yeah, too late to get in now. Well, I guess that gives me time to make a new plan....
Ghost Rider - WWTBMD?
  • #152,469
  • Jul 29, 2009 9:39am Jul 29, 2009 9:39am
Quoting wormboy
anyone with access to the H2 chart might want to take a peep.
Strong sellers
1.6400 level will mess with my head again Wormie.... Need to close below for me to be comfortable to continued short.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,470
  • Jul 29, 2009 9:43am Jul 29, 2009 9:43am
My view is when this level is hit, it will unleash the Bulls from the Bullpen.

Ne

Quoting Nene
System adjusted original T/P from 1.6300 to 1.6320. Still looking for that area. Maybe today???
  • #152,471
  • Jul 29, 2009 9:46am Jul 29, 2009 9:46am
Quoting Bull_Bear
1.6400 level will mess with my head again Wormie.... Need to close below for me to be comfortable to continued short.
yup. below 6380 for me is it tho.
told chris earlier regarding the buffer between 6380 & 6420 area is a no trade area. Close cleanly on either side ought to do the trick. It doesn't look like we're getting one at the turn of this hour. Patient pays brother
Thank You
  • #152,472
  • Jul 29, 2009 9:50am Jul 29, 2009 9:50am
Quoting wormboy
anyone with access to the H2 chart might want to take a peep.
Strong sellers

Hi Azim,

What tells you there are strong sellers - are u looking at Volume? just curious.
  • #152,473
  • Jul 29, 2009 9:50am Jul 29, 2009 9:50am
Quoting wormboy
yup. below 6380 for me is it tho.
told chris earlier regarding the buffer between 6380 & 6420 area is a no trade area. Close cleanly on either side ought to do the trick. It doesn't look like we're getting one at the turn of this hour. Patient pays brother

Yes you did my friend and I completely misunderstood what you meant. I thought you meant a close of either side (of either one) was a trigger.

That's what I get for being a silly old carpenter...LOL.......Where's my hammer!!
Ghost Rider - WWTBMD?
  • #152,474
  • Jul 29, 2009 9:51am Jul 29, 2009 9:51am
I have noticed that G/U and E/U are starting to sinc back up again. They were moving opposite directions.
  • #152,475
  • Jul 29, 2009 9:52am Jul 29, 2009 9:52am
Quoting albchr
Yeah, too late to get in now. Well, I guess that gives me time to make a new plan....
bro use your setup methods in long direction for quick scalps on pullbacks...you'll have a better RRR than short atm

good luck
Hear the music before the song is over ...
  • #152,476
  • Jul 29, 2009 9:59am Jul 29, 2009 9:59am
Bernanke loses 29% of his assets

http://www.bloomberg.com/apps/news?p...d=a_poidTIKT8E
  • #152,477
  • Jul 29, 2009 9:59am Jul 29, 2009 9:59am
Quoting GlobalMacro
bro use your setup methods in long direction for quick scalps on pullbacks...you'll have a better RRR than short atm

good luck
Yeah, I discovered last week that I need to learn how to do that. When demoing, My thinking was I didn't want to be a scalper. Much like you, I was always focused on trying to find setups for at least 50 but more like usually 100 or more. The conditions this month have made that challenging for sure.

I got use to trading from the 1H & 4H and never dropped below that. So much learn yet.

Thank you...
Ghost Rider - WWTBMD?
  • #152,478
  • Jul 29, 2009 10:01am Jul 29, 2009 10:01am
Quoting wormboy
yup. below 6380 for me is it tho.
told chris earlier regarding the buffer between 6380 & 6420 area is a no trade area. Close cleanly on either side ought to do the trick. It doesn't look like we're getting one at the turn of this hour. Patient pays brother
Yup I'm holding short and might be able to still have a few beers this Friday if she stays below 1.6400, looking for a min of 1.6220 for my 2 positions.

See you on the short side Bro....

Later mate

Bed Time for me
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,479
  • Jul 29, 2009 10:02am Jul 29, 2009 10:02am
Quoting albchr
Yeah, I discovered last week that I need to learn how to do that. When demoing, My thinking was I didn't want to be a scalper. Much like you, I was always focused on trying to find setups for at least 50 but more like usually 100 or more. The conditions this month have made that challenging for sure.

I got use to trading from the 1H & 4H and never dropped below that. So much learn yet.

Thank you...
I've stuck with the 15m, it kept me out of the chop. The trade off is obvious-sometimes I miss easy pips. lol
  • #152,480
  • Jul 29, 2009 10:02am Jul 29, 2009 10:02am
Quoting stewrigh
Hi Azim,

What tells you there are strong sellers - are u looking at Volume? just curious.
Hi stew,

No not volume. Just price & trendlines.
I have this old descending utl on h2 where price touched and was rejected heavily. I intepret those as strong sellers/rejection.
I apologise if my statement was confusing.
Thank You
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