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Cable Update (GBPUSD)

  • #162,301
  • Sep 1, 2009 9:02am Sep 1, 2009 9:02am
Part 2
  • #162,302
  • Sep 1, 2009 9:03am Sep 1, 2009 9:03am
Careful the "BULL TRAP"
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,303
  • Sep 1, 2009 9:05am Sep 1, 2009 9:05am
now what.. long now?
  • #162,304
  • Sep 1, 2009 9:05am Sep 1, 2009 9:05am
Meetings this morning - missed all the fun.... Price bounced of yesterdays low @ 1.6182. Waited for a break back over the parallel trendline of recent weekly closes now sitting @ 1.6200 - entered long.

Technically, price should be making it's way back to the 1.6280 to 1.6290 level somewhere today. First hurdle will be Friday's 1.6254 low. Then the weekly open price of 1.6268 to test or get close to the parallel trendline of recent daily closes currently @ 1.6294.

I will follow closely. Stop now moved to +5.

I did however make a mental note of the number 1.5840 and the month September. These should go together somewhere along the line in the not too distant future.

OK - sparks while I am posting...

Good trading all!
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  • #162,305
  • Sep 1, 2009 9:06am Sep 1, 2009 9:06am
Quoting poisonivy0
bull bear could i just ask a ?, are you a support and resistance trader? is this your main strategy?

Thanks PI
Ask me Tom, Gotta hit the hay


Outta of here
Later All
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,306
  • Sep 1, 2009 9:07am Sep 1, 2009 9:07am
Guys & Gals:

I only have 2 words for you:


SHORT SQUEEZE
Hear the music before the song is over ...
  • #162,307
  • Sep 1, 2009 9:10am Sep 1, 2009 9:10am
Quoting $maker
In theory it makes sense to me too.... but lol i do panic with real cash!
i probably need to keep telling myself ... im holding the right trade...its more mental..

i was the same...any1 can vouche that..i use the word "was" cause i think i have turned a corner..the biggest problem u have is: u dont trust yourself and this can only come from u getting a desired method..sticking to it and knowing it works...

then u can turn a corner..trading in the zone book help heaps as well

i wish u good fortune..azim is correct..but the cause is your confidence in method..
  • #162,308
  • Sep 1, 2009 9:10am Sep 1, 2009 9:10am
Quoting Bull_Bear
Careful the "BULL TRAP"
I always get a kick out of how folks view the markets in different ways. 80 pips to me isn't a "trap", it's an opportunity lined with GOLD...lol

Now had I been smart, I would have closed the other half of my short at 6180ish and rode a nice fresh full position back up. Oh well, live and learn I guess.
Ghost Rider - WWTBMD?
  • #162,309
  • Sep 1, 2009 9:10am Sep 1, 2009 9:10am
im short 6260
  • #162,310
  • Sep 1, 2009 9:12am Sep 1, 2009 9:12am
Quoting poisonivy0
im short 6260
me too.. your tgt?
  • #162,311
  • Sep 1, 2009 9:13am Sep 1, 2009 9:13am
Quoting albchr
I always get a kick out of how folks view the markets in different ways. 80 pips to me isn't a "trap", it's an opportunity lined with GOLD...lol
it may not be 80 pips tho, I think there can be a nice spike and downhill from there ..

Im thinking going short from 6200 maybe .. still observing the market tho
  • #162,312
  • Sep 1, 2009 9:14am Sep 1, 2009 9:14am
Quoting fx local
heads up, rumour of 55 for ISM going round in the markets, hence the move up in stocks and cable
sup brother!
  • #162,313
  • Sep 1, 2009 9:14am Sep 1, 2009 9:14am
Quoting albchr
I always get a kick out of how folks view the markets in different ways. 80 pips to me isn't a "trap", it's an opportunity lined with GOLD...lol
You can say that aloud, brother...
Hear the music before the song is over ...
  • #162,314
  • Sep 1, 2009 9:17am Sep 1, 2009 9:17am
Quoting GlobalMacro
You can say that aloud, brother...
for sure...one man reward is a next man sin
  • #162,315
  • Sep 1, 2009 9:18am Sep 1, 2009 9:18am
Quoting Forty
it may not be 80 pips tho, I think there can be a nice spike and downhill from there ..

Im thinking going short from 6200 maybe .. still observing the market tho
HUH? It already was 83 pips man. LOL Of course you'd have be watching the 15m like I was to have caught it.

From the 6180 area I suspected it would bounce, to a "perfect" touch of the 15m 35MA (black line). 83 pips.
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Ghost Rider - WWTBMD?
  • #162,316
  • Sep 1, 2009 9:21am Sep 1, 2009 9:21am
Quoting albchr
I always get a kick out of how folks view the markets in different ways. 80 pips to me isn't a "trap", it's an opportunity lined with GOLD...lol

Now had I been smart, I would have closed the other half of my short at 6180ish and rode a nice fresh full position back up. Oh well, live and learn I guess.
I'm not reversing Long... I Roll different to you. You control your trades Chris.

Quoting GlobalMacro
Guys & Gals:

I only have 2 words for you:


SHORT SQUEEZE
GM, my back is getting really sore carrying bro.

I'm off Later Guys.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,317
  • Sep 1, 2009 9:21am Sep 1, 2009 9:21am
Hi
Ofcourse that the trend of cable is down in short term
With happy trade
Be cool in trade
  • #162,318
  • Sep 1, 2009 9:21am Sep 1, 2009 9:21am
Quoting $maker
me too.. your tgt?
6190 seem like heavy support but if it breaks we should reach lower for the day.
  • #162,319
  • Sep 1, 2009 9:22am Sep 1, 2009 9:22am
went short at 6260 took 32 pips..not really sure..of the trend.. watching now
  • #162,320
  • Sep 1, 2009 9:23am Sep 1, 2009 9:23am
Hi to all senior, what lowest price will touched if it go for beer? tq
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