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Cable Update (GBPUSD)

  • #164,521
  • Sep 10, 2009 5:15am Sep 10, 2009 5:15am
Quoting Bull_Bear
Its something you MUST learn in this game.
Yep, I know this and working on it...this trade was much more better, cause last week I would go away with few pips. Now it was better and I'm sticking on my plan 20-30 pips for day, don't need more...and today it was in only one trade, which is great.
-- There's no winner without lose --
  • #164,522
  • Sep 10, 2009 5:16am Sep 10, 2009 5:16am
Quoting Bull_Bear
Its something you MUST learn in this game.
And belief! You have to belief that your targets are gonna hit. Look at Wormie, he believes we are gonna hit 5300 and he has stuck to it!!!

I believe the market goes up and down! And i like to be in between them!
  • #164,523
  • Sep 10, 2009 5:18am Sep 10, 2009 5:18am
Quoting JamesCZ
Yep, I know this and working on it...this trade was much more better, cause last week I would go away with few pips. Now it was better and I'm sticking on my plan 20-30 pips for day, don't need more...and today it was in only one trade, which is great.
If that's your planned TP than great, as you are playing out to a trading plan. If you close your trade cos of impatience or emotion feeling attached, its not the way to go.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #164,524
  • Sep 10, 2009 5:26am Sep 10, 2009 5:26am
OK...LOL...I'm outa here. Trade safe everyone.
Ghost Rider - WWTBMD?
  • #164,525
  • Sep 10, 2009 5:28am Sep 10, 2009 5:28am
Quoting Bull_Bear
If that's your planned TP than great, as you are playing out to a trading plan. If you close your trade cos of impatience or emotion feeling attached, its not the way to go.
Yep, it's my plan...but of course, I want to take as much as that move can give. In this case it looks like I closed in right time. But in the future, I want be more patient.
-- There's no winner without lose --
  • #164,526
  • Sep 10, 2009 5:29am Sep 10, 2009 5:29am
Missing out on a lot of opportunities if not infront of the PC all the time...

I guess that is the way it is when you travel.

I attach a 15 min chart with some notes. Things I see:

1) Confluence of the closing price 2 days ago @ 1.6488, supported by the parallel line representing average daily closes for the week so far. Roundabout 1.6485-1.6480 in that area. This should hold price for the moment.
2) Here we have confluence of the 50% line for this week, sitting at 1.6456, as well as yesterdays low @ 1.6454
3)Should price move back up, first target will be 1.6517. This number based on a couple of averages for the week. If price moves beyond this level, we may look at 1.6526 for now.

I hope some of you find this useful in your decisionmaking.

Highest regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu3.gif Size: 27 KB
  • #164,527
  • Sep 10, 2009 5:33am Sep 10, 2009 5:33am
  •  refugee
  • | Joined Aug 2009 | Status: Be patient, cautious, & skeptical. | 50 Posts
Quoting trabagwe
i alway's seem to get out to early,was shooting for 6455, is any one else holding for this or should i get out now

6455 has been my TP for quite some time now. I set up a pretty generous loss with all the news coming out.... learned the hard way too many times to see a stop hit and see the damn price in my target area all after just taking a smoke break.

I may not be a guru, but I know this: Patience and smart money management are the keys to the banks.
  • #164,528
  • Sep 10, 2009 5:35am Sep 10, 2009 5:35am
Quoting JamesCZ
Yep, I know this and working on it...this trade was much more better, cause last week I would go away with few pips. Now it was better and I'm sticking on my plan 20-30 pips for day, don't need more...and today it was in only one trade, which is great.
Good trade. Perfect exit mate.

This was mine. To an extent.

Attached Image (click to enlarge)
Click to Enlarge Name: go.jpg Size: 149 KB


I'm looking for a short at 24 after my long at 84.

Enjoy your day, one of the main factors of trading is knowing when to stop. Of course the main factor should be to earn as much in as little time as possible so you don't have to trade and you can live happily.
  • #164,529
  • Sep 10, 2009 5:44am Sep 10, 2009 5:44am
thank's for everyone's help, usualy stay out close to new's i wanna do this the best i can an sometimes i know ?'s sound stupid, an my bird is no help all she has learned to say since i started this is oh shit ,,,it is nice to know you'r on the same page as someone else, thank's again
  • #164,530
  • Sep 10, 2009 5:47am Sep 10, 2009 5:47am
Quoting KillPhil08
I'm looking for a short at 24 after my long at 84.
I'd be careful now, cause important news are coming...even if it looks like we're going down, cause price perfectly touched 61.8 fib in reverse move.
-- There's no winner without lose --
  • #164,531
  • Sep 10, 2009 5:51am Sep 10, 2009 5:51am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
My 2 cents, although not sure how many of you take it.

Despite all the criticism for fundamentals, technicals are stuck as there is no way to tell which way it's going to go. Since we are waiting for fundamental announcement from last 2 days.

Well not to disappoint anyone , BUT, If BOE doesn't announce any QE today pound will rocket. Why, because EU has made yearly high's on the hope of recovery. Don't forget ftse100 touched 5000 yesterday. Investors are spooked because of more QE or IR decision hence the reason pound is holding back.

So if QE is announced pound will be taking the hit if not, it will rise next week if not this week due to US news as well.

Hope you all make pips whichever way you decide to go.
  • #164,532
  • Sep 10, 2009 5:52am Sep 10, 2009 5:52am
Price took a bounce off the 23.6% of the 6111-6591 move following the sell off from 6541 - the then 61.8% of the then intraday move down...price has now moved lower to this 23.65 fib before staging a recovery. The fib is inside a previous 4hr swing low zone.

7 mins before Uk Boe/Mpc rate and QE update, price is in an 85pip intraday range, 48% of it's 20day average of 176..

http://i29.tinypic.com/335f3lv.gif
ex member
  • #164,533
  • Sep 10, 2009 5:53am Sep 10, 2009 5:53am
Quoting JamesCZ
I'd be careful now, cause important news are coming...even if it looks like we're going down, cause price perfectly touched 61.8 fib in reverse move.
Took a bit stop now at b/e. I know man, don't worry.

News trades for me =

long 16483 or 16455 / Short 16566 (already short from 24).
  • #164,534
  • Edited 6:11am Sep 10, 2009 6:01am | Edited 6:11am
short 80 out 59
short 97 out 82
long 63... double stake long 50 average 55 out 67.
  • #164,535
  • Sep 10, 2009 6:02am Sep 10, 2009 6:02am
reverse to long
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #164,536
  • Sep 10, 2009 6:04am Sep 10, 2009 6:04am
what's going on .5>>>> .5 why is there such bullish force?
  • #164,537
  • Sep 10, 2009 6:06am Sep 10, 2009 6:06am
great call for you,,
  • #164,538
  • Sep 10, 2009 6:06am Sep 10, 2009 6:06am
wow what a strong move of news
  • #164,539
  • Sep 10, 2009 6:07am Sep 10, 2009 6:07am
what da!! a GAP??!!
Lets Soar The Sky
  • #164,540
  • Sep 10, 2009 6:09am Sep 10, 2009 6:09am
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP.CHF-6-19.gif Size: 21 KB
Click to Enlarge Name: GBP-USD-6-19.gif Size: 26 KB
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