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Cable Update (GBPUSD)

  • #155,261
  • Aug 5, 2009 7:09am Aug 5, 2009 7:09am
Quoting ams
I can understand going short but why risk at 70300?

go short from 70500 and SL of 20 pips.

It will touch 70550 at every cost, wait and watch. There are 2 news one in 15 min another at 1500.
because it was the beginning of a new H1 candle, many times the market reverses then. however, you are correct, i bailed with 10+ pips and put in a limit order for 7050 with a stop of 7075 and a target of 6950.


i am GMT -5, have to go to my day job now and take care of my two girls :-)
happy trading ( i am sure i going to miss a great opportunity today, but thats life)
  • #155,262
  • Aug 5, 2009 7:09am Aug 5, 2009 7:09am
Quoting albchr
I think to be buddy.

Any bets on which way it will spike on the news?

Just for fun, my gut says up 50 to 100, stall and a retrace back...LOL
Lets see what the news bring us
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #155,263
  • Aug 5, 2009 7:10am Aug 5, 2009 7:10am
I believe she closed it upon reaching breakeven price. Fear!!

Quoting scorpionFX
IT HAS TO GO UP, but maybe the news will hit your SL first and then go loooong loong.
  • #155,264
  • Aug 5, 2009 7:12am Aug 5, 2009 7:12am
Quoting Bull_Bear
Lets see what the news bring us
Oh come on........not even a guess?....For fun?....
Ghost Rider - WWTBMD?
  • #155,265
  • Aug 5, 2009 7:14am Aug 5, 2009 7:14am
Quoting albchr
Oh come on........not even a guess?....For fun?....

simply down
Jesus Christ is my only Lord !
  • #155,266
  • Aug 5, 2009 7:16am Aug 5, 2009 7:16am
Changed to a bear now
  • #155,267
  • Aug 5, 2009 7:17am Aug 5, 2009 7:17am
be carefull BULL TRAP ??????
  • #155,268
  • Aug 5, 2009 7:18am Aug 5, 2009 7:18am
Womans Luck hey
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #155,269
  • Aug 5, 2009 7:21am Aug 5, 2009 7:21am
Looks set up for dollar buying across the board. So I hope anyway. Short GBP/USD. Short GBP/JPY. Long USD/CAD, short CAD/JPY. Short NZD/USD.
There's always money in the banana stand.
  • #155,270
  • Aug 5, 2009 7:22am Aug 5, 2009 7:22am
No please...not back inside this range again....
Ghost Rider - WWTBMD?
  • #155,271
  • Aug 5, 2009 7:23am Aug 5, 2009 7:23am
Phew.

Short closed @ 7000 for 20 pips gain. Pure luck.

Will remember this.
Great Bodies are Engineered not Born
  • #155,272
  • Aug 5, 2009 7:25am Aug 5, 2009 7:25am
a big one is exit long
  • #155,273
  • Aug 5, 2009 7:25am Aug 5, 2009 7:25am
Quoting RichLadyFX
Phew.

Short closed @ 7000 for 20 pips gain. Pure luck.

Will remember this.
Certainly still looks like a terrific short to me. Definite selling pressure now, evidenced by that drop and invisible hanging man.
There's always money in the banana stand.
  • #155,274
  • Aug 5, 2009 7:26am Aug 5, 2009 7:26am
closed half @ 170 from 17030, will leave the rest with s/l @ 17060,
any opinions?
  • #155,275
  • Edited 9:06am Aug 5, 2009 7:26am | Edited 9:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I am no one to advice you and don't even take my or anyone else's advice.

Go with your gut feelings and what the chart tells you.

This news is bad but by what 23k ...that's nothing..market will shrug it...wait for the 2nd news it might be good or negligible then what will happen. price is only going up and cannot go below 70-80 pips from last 2 days! Anyhow, do not curse me if it goes down. As I am not in favour shorting whatsoever.

I am one of those sufrers holding short from a while but I've made it by buying as well.

Just wanted to highlight it's a very strong uptrend (we have come from 1.35 to 1.70 in 3-4 months, what else someone wants) and you should only be buying on downtrends when PA reaches support level 2 or 3. Trading against the trend is like standing in front of the train and waiting to be killed.

I am waiting for the dip to buy only nothing else....no shorts for me..else i will loose my pants :-)

Best is to wait for the PA to reach resistence 2 or 3 then short if you have itchy fingers






Quoting mpurdy1973
because it was the beginning of a new H1 candle, many times the market reverses then. however, you are correct, i bailed with 10+ pips and put in a limit order for 7050 with a stop of 7075 and a target of 6950.


i am GMT -5, have to go to my day job now and take care of my two girls :-)
happy trading ( i am sure i going to miss a great opportunity today, but thats life)
  • #155,276
  • Aug 5, 2009 7:28am Aug 5, 2009 7:28am
the euro looks like going down but the pound is resisting
  • #155,277
  • Aug 5, 2009 7:29am Aug 5, 2009 7:29am
Quoting LizardGizzard
Certainly still looks like a terrific short to me. Definite selling pressure now, evidenced by that drop and invisible hanging man.
Not convinced of that. Probably just taking out some weak longs here. 7000ish now acting as support (atm)..lol
Ghost Rider - WWTBMD?
  • #155,278
  • Aug 5, 2009 7:29am Aug 5, 2009 7:29am
Quoting albchr
Oh come on........not even a guess?....For fun?....
----->

Buying her @ 1.7000.... SL 1.6955.... TP 1.7050

look'n to sell @ 1.7050
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #155,279
  • Aug 5, 2009 7:30am Aug 5, 2009 7:30am
Investors return to Safe-Heaven for a while!
  • #155,280
  • Aug 5, 2009 7:31am Aug 5, 2009 7:31am
Quoting albchr
Not convinced of that. Probably just taking out some weak longs here. 7000ish now acting as support (atm)..lol
Nice divergence. UTL bounce, round number. I'm convinced.
There's always money in the banana stand.
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