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Cable Update (GBPUSD)

  • #155,501
  • Aug 6, 2009 12:35am Aug 6, 2009 12:35am
Quoting Ferick
Not cool . I am 50+ pips on the red, but perhaps the rejection at 1.7043 is the silver lining. I have now Set SL at 1.7055. Wish me luck!
Amazingly enough, I was able to dump that short from 1.6963 at break even point. I want to thank malcolmb14 for giving me the nudge in taking this decision. Thank you sir, I appreciate it.

I am long now at 1.6979. This kind of shallow pull back has been a good indicator recently that the pair is not interested in going down. 1.71 should be doable. News day may complicate the situation, but everything still points N ( believe it or not). SL at BE. Good luck to everyone and good night.
  • #155,502
  • Aug 6, 2009 12:37am Aug 6, 2009 12:37am
Quoting GlobalMacro
I will start accumulating longs around these levels...currently 1.6900/15
Morning All,

Alright...Now time for me to exit my entire long position at this level.
Cable now trading @ 1.7000
Attached Image
Hear the music before the song is over ...
  • #155,503
  • Aug 6, 2009 12:38am Aug 6, 2009 12:38am
Quoting wormboy
Okay.

There's actually nothing to trade atm. I do mean that, nothing.
Well at least for me there's none since I don't drop any lower than H1 to trade. Guys who trade on the lower tf/scalp might have something else to say on the matter. Usually at the start of the day looking at the higher tf I could pretty much sum up the general direction of the day, pretty much like what you attempted earlier. I can't find anything to pick today, even with the london momentum later I'd be surprised if we break out of this range. Typical irrational movement...
Hi WB,
Many thanks for your reply.
I am to fat old and balding to cry like a girl over some good and well intended advice.
I do weep tears of blood however over lost money. ( I really need red carpets arround here!)
I have missed the bus on what the nfp is, I looked at the calander for it and cannot find it.
My reasoning is
1/ Asian market openes thin trading, very often their is a reversal when London opens.
2/ Last 2 days the same low has been tested but a higher high.
3/ looking at the daily it seems to be showing signs of exhaustion, and human nature being what it is profit taking is a reasonable expectation.
( combination of physocoligy and TA, often I feel it helps to look at the time of day and try to think, if I was a trader what would I be doing at my desk right now, physocoligy) I am aware the spelling is incorrect.

I hope this answers the questions raised,
1, what was I thinking?
2, will I cry.

I respect your opinion and posts and the way you share your knowldge...many thanks keep it up.http://www.forexfactory.com/images/icons/icon14.gif
  • #155,504
  • Aug 6, 2009 12:41am Aug 6, 2009 12:41am
position [email protected] [email protected] [email protected]
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #155,505
  • Aug 6, 2009 12:46am Aug 6, 2009 12:46am
Quoting Qu|cksilver
Helooo... cable update fans!!!

Hope the pips always be with you!!

  • #155,506
  • Aug 6, 2009 12:50am Aug 6, 2009 12:50am
Quoting Yngwie
position [email protected] [email protected] [email protected]
I'm curious, not that your position is wrong, enjoy your trade and I wish you many green pips. I would like to understand why you've waited til 6990 to go long when you could of gotten in off the h1 pin/hammer we got almost 2hrs ago and got the entry price of 6982 with SL on the other side of the wick of the pin/hammer price of 6960. You would of only had a draw down of about 5 pips, booked some profit at 1.70 and set the rest of your position at BE +?.

Again, I wish you the best with your trade!
Just digging in the trenches like everyone else!
  • #155,507
  • Aug 6, 2009 12:50am Aug 6, 2009 12:50am
My Daily show doji and she should go n test ~ 158.50...GU ??? am trying 10sen from 1.6999...So let see how my GY 1 lot & GU is look like
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  • #155,508
  • Aug 6, 2009 12:57am Aug 6, 2009 12:57am
Quoting eohater
I'm curious, not that your position is wrong, enjoy your trade and I wish you many green pips. I would like to understand why you've waited til 6990 to go long when you could of gotten in off the h1 pin/hammer we got almost 2hrs ago and got the entry price of 6982 with SL on the other side of the wick of the pin/hammer price of 6960. You would of only had a draw down of about 5 pips, booked some profit at 1.70 and set the rest of your position at BE +?.

Again, I wish you the best with your trade!
That is the problem with some of them mate...Do not know why they long and why they short...I rather stay out for long at resistance level and out from short at support level as blown account is my good lesson learn...Am always stress do not trade if we not sure..but that is his money anyway..

Ok mate back to business...I believe turning point started......1.6725-1.6700 I saw will be the test....What do you think ..
Just short my 10 sen from 1.6999 n see what happen
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  • #155,509
  • Aug 6, 2009 12:59am Aug 6, 2009 12:59am
Nikkei up mid day, highest level in 10 months.
Great Bodies are Engineered not Born
  • #155,510
  • Aug 6, 2009 1:02am Aug 6, 2009 1:02am
Morning all,

I know a lot of ppl here are looking for the big drop or re-trace but I'm sorry guys I just don't see it...

Pull up a weekly chart and draw the fibs.

In the chart below I've 2 sets one from the all time high(2.1 and then from 2.

So I get 2 50 fibs - one at 1.68 and one at 1.73 and price is right in the middle.

The 61 fibs come in at 1.76 and 1.82......go figure - the trend is U-P.....LOL.

Last year the markets thought the pound was worth 2 dollars - whats changed since then......not a lot really.....

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  • #155,511
  • Aug 6, 2009 1:06am Aug 6, 2009 1:06am
Quoting grashid
That is the problem with some of them mate...Do not know why they long and why they short...I rather stay out for long at resistance level and out from short at support level as blown account is my good lesson learn...Am always stress do not trade if we not sure..but that is his money anyway..

Ok mate back to business...I believe turning point started......1.6725-1.6700 I saw will be the test....What do you think ..
Just short my 10 sen from 1.6999 n see what happen
i have the same opinion...........
  • #155,512
  • Aug 6, 2009 1:08am Aug 6, 2009 1:08am
Quoting grashid
That is the problem with some of them mate...Do not know why they long and why they short...I rather stay out for long at resistance level and out from short at support level as blown account is my good lesson learn...Am always stress do not trade if we not sure..but that is his money anyway..

Ok mate back to business...I believe turning point started......1.6725-1.6700 I saw will be the test....What do you think ..
Just short my 10 sen from 1.6999 n see what happen
I agree!

Now, as to business, I believe a turning point has been started as well. I still have shorts from 7035, 7022, 7000 (just added the 7000) I've played short on her all day and she's paid me just fine. My price does blend so my blended price is 7013. I've not played long on her because I have a long position in another account at 6700 covered at +100 (Only 1 soldier left marching). We made a nice new high going into the US session, but we were not able to take it out in the 2nd half of the US session.

Many green pips to you!
Just digging in the trenches like everyone else!
  • #155,513
  • Aug 6, 2009 1:13am Aug 6, 2009 1:13am
Morning all! looks like the GU is moving sideways and will be range bound today. I'll buy at the bottom of the range = 1.69600 and sell at the top 1.70250 and only target 40 pips. We may get a breakout after the BOE decision later today at mid day (GMT) Think they'll keep interest rates the same. But who knows?
May the forex be with you |
  • #155,514
  • Aug 6, 2009 1:25am Aug 6, 2009 1:25am
Quoting eohater
I'm curious, not that your position is wrong, enjoy your trade and I wish you many green pips. I would like to understand why you've waited til 6990 to go long when you could of gotten in off the h1 pin/hammer we got almost 2hrs ago and got the entry price of 6982 with SL on the other side of the wick of the pin/hammer price of 6960. You would of only had a draw down of about 5 pips, booked some profit at 1.70 and set the rest of your position at BE +?.

Again, I wish you the best with your trade!
I have very limited time to watch the chart because i'm at the office now. Just trade what i can see now. However, i'm not good as you. Thanks bro!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #155,515
  • Aug 6, 2009 1:29am Aug 6, 2009 1:29am
Quoting eohater
I agree!

Now, as to business, I believe a turning point has been started as well. I still have shorts from 7035, 7022, 7000 (just added the 7000) I've played short on her all day and she's paid me just fine. My price does blend so my blended price is 7013. I've not played long on her because I have a long position in another account at 6700 covered at +100 (Only 1 soldier left marching). We made a nice new high going into the US session, but we were not able to take it out in the 2nd half of the US session.

Many green pips to you!
  • #155,516
  • Aug 6, 2009 1:32am Aug 6, 2009 1:32am
Quoting Yngwie
I have very limited time to watch the chart because i'm at the office now. Just trade what i can see now. However, i'm not good as you. Thanks bro!
I understand about the time constraints. Thank you for the compliment, but I wouldn't say your not as good as me. I'm just a trader in the trenches like everyone else. Enjoy your trade bro!
Just digging in the trenches like everyone else!
  • #155,517
  • Aug 6, 2009 1:40am Aug 6, 2009 1:40am
Good MAE Everyone...
Ghost Rider - WWTBMD?
  • #155,518
  • Aug 6, 2009 1:42am Aug 6, 2009 1:42am
Quoting albchr
Good MAE Everyone...

Hi Chris
  • #155,519
  • Aug 6, 2009 1:43am Aug 6, 2009 1:43am
see all of u in US as i have a conf call with my counter part in Holland..See ya
  • #155,520
  • Aug 6, 2009 1:44am Aug 6, 2009 1:44am
Quoting grashid
see all of u in US as i have a conf call with my counter part in Holland..See ya
See you bro!
Just digging in the trenches like everyone else!
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