Cable Update (GBPUSD) | Page 8423 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #168,441
  • Sep 23, 2009 2:53pm Sep 23, 2009 2:53pm
Quoting Magix
Aaaaaaaaaand there we go.

Last of my afternoon soft hedges placed, now in 7xlong GU/GJ, 7xShort EU/EJ.

Reserving the last 3 lots for confirmation of the fall on EG chart.

If you wanna go far,
If you wanna be a star,
You've got to bring it!

CHA CHING!
  • #168,442
  • Sep 23, 2009 2:55pm Sep 23, 2009 2:55pm
20 point drop s& p 1.8% in 1 hr ....

hopefully we now get a retrace on us indexs

if this is the case my NO WAY 1.5500 could be closer than we think ..lol
Blogging daily now at www.volume.zone
  • #168,443
  • Sep 23, 2009 2:55pm Sep 23, 2009 2:55pm
@ GM, Chris, Magix, Tau Trader and mktjong...really gotta hit the bed. Good night, and see you guys tomorrow. Good luck with the trades...
  • #168,444
  • Sep 23, 2009 2:57pm Sep 23, 2009 2:57pm
Quoting albchr
So GM, I'm curious. If this next 4H closes (20 minutes) below 6400, will you still hold longs or reassess?
...I'm always ready to re-assess Chris....H4's a little too low a TF for my style (no pun intended!)....so we have to see what story the overall momentum's gonna be telling us....
Hear the music before the song is over ...
  • #168,445
  • Sep 23, 2009 3:02pm Sep 23, 2009 3:02pm
Quoting GlobalMacro
...I'm always ready to re-assess Chris....H4's a little too low a TF for my style (no pun intended!)....so we have to see what story the overall momentum's gonna be telling us....
Gotcha...Thanks...
Ghost Rider - WWTBMD?
  • #168,446
  • Sep 23, 2009 3:03pm Sep 23, 2009 3:03pm
Quoting Alpha Hamste
@ GM, Chris, Magix, Tau Trader and mktjong...really gotta hit the bed. Good night, and see you guys tomorrow. Good luck with the trades...
Have a good one
Hear the music before the song is over ...
  • #168,447
  • Sep 23, 2009 3:04pm Sep 23, 2009 3:04pm
Good day to you all,

Chart update. Numbered and referenced.

Levels of importance to me for the near future:

1) Today's opening price @ 1.6358 - I would like to see close today below this level. This will give me courage to continue to look for shorts in the near future.
2) This is the 50% line for the week @ 1.6300/1.6299 - next target should you have the kahunas.
3) The lower level of the daily channel, by low @ 1.6270
4) A cluster of resistance/support which includes the close of Monday @ 1.6234, as well as the low of last week @ 1.6230 and then the weekly open @ 1.6224. Add to that the Monday close @ 1.6216.

Wish you all health, wealth and happiness

regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 18 KB
  • #168,448
  • Sep 23, 2009 3:07pm Sep 23, 2009 3:07pm
Quoting malcolmb14
according to elliot wave software we have this scenario.

the 1.6450 level is the very critical level. Above this there is no wave 5 down to form , this is what I have been looking for.

fomc will likely be dollar neutral .... that is the plan anyway but they have lied to us before lol

form a vsa standpoint on 3 hr we saw that high volume up candle and then market has moved sideways since , waiting for the FOMC

Attachment
1.6450 area has held for now ... now wll be interesting to see what London boys make of this
Blogging daily now at www.volume.zone
  • #168,449
  • Sep 23, 2009 3:08pm Sep 23, 2009 3:08pm
Quoting TauTrader
Good day to you all,

Chart update. Numbered and referenced.

Levels of importance to me for the near future:

1) Today's opening price @ 1.6358 - I would like to see close today below this level. This will give me courage to continue to look for shorts in the near future.
2) This is the 50% line for the week @ 1.6300/1.6299 - next target should you have the kahunas.
3) The lower level of the daily channel, by low @ 1.6270
4) A cluster of resistance/support which includes the close of Monday @ 1.6234, as well as the low of last week @ 1.6230...
Excellent summary as always. Thanks
None the wiser!
  • #168,450
  • Sep 23, 2009 3:08pm Sep 23, 2009 3:08pm
Quoting malcolmb14
1.6450 area has held for now ... now wll be interesting to see what London boys make of this
London would crush it to 1.61 area
  • #168,451
  • Sep 23, 2009 3:09pm Sep 23, 2009 3:09pm
nice analysis as always bbmac, thanks for your valuable insight.

You seem to have a good trade plan and system, did getting to this point take a lot of time? I don't know Mt4, (have tootled about trying it on demo tho that seems like adding yet another year to learning curve!) so tend to avoid indicators and just use S&R, T/L and fibs, ( I trade via Oanda)
But sometimes with cable the chop monster scares you in and out of trades...similarly due to its volatility keeps you in bad trades too long. I'm a scalper, and like being a scalper, high risk, high return.

I've been trading for a couple of years, and it's been a steep learning curve, with lots of ups and downs, i've not lost a lot of money (nor gained a lot) because i've not invested a lot of money, however I'm getting a bit fed up of the peaks and troughs of equity curve. I feel I'm at the point where I can almost crack this trading, or forget it and give up. It has been toiugh this last 6 months with the 'is it going back up' or 'is it going back down' economy, so would like an additional filter when knowing when to exit is a losing trade, or run a winning trade, I try break even stops but almost always end up with a break even trade, do you have any suggestions?

I feel a bit rude with my random posting on here, I read the posts, and appreciate the input everyone, but with so many people with long bias and so many with short bias, it's hard to not end up confused.

Apologies for rambling...My bias tonight was short £ prior to FOMC, as the treasuries were going up, then you get freaked by the wicked spike...which brings me to 'thanks forexLion' Your statement about the FOMC and interest rates, I will sure try and remember for the future. Thanks.




Happy trading all. And thnaks for giving the time to those less able!
  • #168,452
  • Sep 23, 2009 3:11pm Sep 23, 2009 3:11pm
Quoting malcolmb14
I have dp at 6320 .... looking for test of that ..VERTY simple entries today based on VSA
OK, I'll drop you off at 16320 lol.

What do you think to this bouncing around 14950?
  • #168,453
  • Sep 23, 2009 3:17pm Sep 23, 2009 3:17pm
GUYS both the 5 min and 15 min charts are obviously oversold now. Would it be a bad idea going long here? Anyone actually going long here or not?
You've got to be IN IT to WIN IT!
  • #168,454
  • Sep 23, 2009 3:18pm Sep 23, 2009 3:18pm
Quoting direct-trade
OK, I'll drop you off at 16320 lol.

What do you think to this bouncing around 14950?
market trying to make people go long..then kill them!!

i know been there already
  • #168,455
  • Sep 23, 2009 3:18pm Sep 23, 2009 3:18pm
Quoting albchr
Gotcha...Thanks...

Anytime bro...

see you @ LDN
Hear the music before the song is over ...
  • #168,456
  • Sep 23, 2009 3:22pm Sep 23, 2009 3:22pm
Quoting Ifty
GUYS both the 5 min and 15 min charts are obviously oversold now. Would it be a bad idea going long here? Anyone actually going long here or not?
On a general note, you are picking the wrong time of day to be trading...

That being said, I am still waiting for my last 3 positions on a soft hedge....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #168,457
  • Sep 23, 2009 3:22pm Sep 23, 2009 3:22pm
we may have bottomed for a while. not breaking the previous H4 low.

Que
Que
  • #168,458
  • Sep 23, 2009 3:23pm Sep 23, 2009 3:23pm
Quoting malcolmb14
1.6450 area has held for now ... now wll be interesting to see what London boys make of this

4 hour with fib exoansion plotted on the 12-3 sell formation

targets 1.6300 , 1.6200 , 1.6130 and if we get there , tkae it from there

Attached Image (click to enlarge)
Click to Enlarge Name: chf04.gif Size: 27 KB
Blogging daily now at www.volume.zone
  • #168,459
  • Sep 23, 2009 3:24pm Sep 23, 2009 3:24pm
I get on a flight in 20 min. This needs to move or I need to TP.

Que
Que
  • #168,460
  • Sep 23, 2009 3:24pm Sep 23, 2009 3:24pm
Quoting Magix
On a general note, you are picking the wrong time of day to be trading...

That being said, I am still waiting for my last 3 positions on a soft hedge....

You are definately right about it being the wrong time bro. Hopefully try to get a good night sleep and see what happens in the morning rather than risking it here. Thanks for your help .
You've got to be IN IT to WIN IT!
462 traders viewing now, 2 are registered:
Altaf249
,
ricmaj