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Cable Update (GBPUSD)

  • #176,601
  • Oct 15, 2009 5:44am Oct 15, 2009 5:44am
Quote
went short at 6231....yikes

I'm short at 6236!!
  • #176,602
  • Oct 15, 2009 5:45am Oct 15, 2009 5:45am
Quoting Pak Tiger
I'm short at 6236!!
Jumping in while the fire is still hot.
Probability Professor
  • #176,603
  • Oct 15, 2009 5:46am Oct 15, 2009 5:46am
[quote=bbmac;3149463]Price is above Daily R4 which is unusual,..it is also @ 144% of it's average 20day pip range so far today and @ 85% of it's average 52week pip range so far this week. As there is no official ohlc data for a non-exchange otc market like forex they are subjective. The ones I refer to for eg are calculated from midnight London as the daily Close, but others will have different ideas....the choice is yours. It is this that makes them only a minor consideration re potential support/resistance and best advice is learn to read other factors such as previous price pivots, fibs and trend lines, particularly the confluence of these other factors.

--------------------
Thanks for the input Bbmac,

So far, I've restricted myself to daily pivots as guidelines only. Mostly due to an inability to learn everything at once! Once I've got these mastered, I'll be able to add other things in. (hopefully!)

Also, what I'm looking at is the way that price behaves in the different R1, R2, R3 areas so that I've got an optimum approach for each area. It's a work in progress but the idea is to be able to approach each day, whatever the day presents with and have an idea how to respond to it.

Alison
  • #176,604
  • Oct 15, 2009 5:46am Oct 15, 2009 5:46am
Quoting Bull_Bear
The bitch took me out short again at

1.6159.. SL.. 1.6230... TP ... open

Heres' why...
stopped out...

2 x 71 = - 142pips
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #176,605
  • Oct 15, 2009 5:46am Oct 15, 2009 5:46am
Have anybody tryed to enter in marked only with buy/sell limit orders and only with trailing stop? -eg. 10 PIP
I want to buy PATIENCE
  • #176,606
  • Oct 15, 2009 5:47am Oct 15, 2009 5:47am
okay time to get back to 5300. Else i'll lose my beer
Thank You
  • #176,607
  • Oct 15, 2009 5:48am Oct 15, 2009 5:48am
Quoting ams
When market goes crazy there is always a reason behind it....

Although cable going this crazy has no reason for some reason


Although I am short @ 6220 but posted this already...I am expecting action @ 63300


http://www.forexfactory.com/showthre...90#post3149190
Just heard on BLOOMBERG that the BOE is going to pause asset purchase program starting next month. That seems to be the reason behind the jump in GU.
You've got to be IN IT to WIN IT!
  • #176,608
  • Oct 15, 2009 5:49am Oct 15, 2009 5:49am
Quoting wormboy
okay time to get back to 5300. Else i'll lose my beer
She's taking back some of my profits... couple of straight loses.....

Sitting out for, will jump in again later.

Don't worry our beers are safe....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #176,609
  • Oct 15, 2009 5:50am Oct 15, 2009 5:50am
Quoting Galation
Jumping in while the fire is still hot.

I believe in striking Cable while its hot!
  • #176,610
  • Oct 15, 2009 5:53am Oct 15, 2009 5:53am
Quoting nAVIN2007
yep got it again..im done for this week..





good work bro!
..same goes to u...146.50 sell limit on, 147 waiting & 146.45 manual sell fo Maria...

Lock 1.6200 fo 6420 tp where 6430/50 will pu the sell limit...
No doing anything yet to my GU just let it run on my trail...

Good jo to you too...just 175us last few day but..mm....got GY less than 3 day....

Anyway am done this week even slow n messy week...but finally its done...

Patient is virtual
  • #176,611
  • Oct 15, 2009 5:53am Oct 15, 2009 5:53am
Quoting Ifty
Just heard on BLOOMBERG that the BOE is going to pause asset purchase program starting next month. That seems to be the reason behind the jump in GU.
It's related to comments made in the FT by BOE official Paul Fisher....

What's ironic, is that exerts from this same interview actually caused a brief dip in cable yesterday afternoon, which took out my stop.

However, the severity of today's move is simply a case of a classic short-squeeze, as the market adjusts from extreme oversold levels in sterling and weak shorts are slaughtered in the process.

Sadly, I took nothing from this move.

Cheers, Paul
  • #176,612
  • Oct 15, 2009 5:54am Oct 15, 2009 5:54am
all this and U.s Cpi etc data to come, how exciting, Lol..how are you uptrend deniers doing? alrighty?

G/L
ex member
  • #176,613
  • Oct 15, 2009 5:55am Oct 15, 2009 5:55am
Quoting Pak Tiger
I believe in striking Cable while its hot!
I'd wait for a reversal candle, personally, rather than stand in way of the train.
  • #176,614
  • Oct 15, 2009 5:55am Oct 15, 2009 5:55am
Quoting gammase1
It's related to comments made in the FT by BOE official Paul Fisher....

What's ironic, is that exerts from this same interview actually caused a brief dip in cable yesterday afternoon, which took out my stop.

However, the severity of today's move is simply a case of a classic short-squeeze, as the market adjusts from extreme oversold levels in sterling and weak shorts are slaughtered in the process.

Sadly, I took nothing from this move.

Cheers, Paul
Better to take nothing than to take a loss.....
  • #176,615
  • Oct 15, 2009 5:55am Oct 15, 2009 5:55am
Quoting gammase1
It's related to comments made in the FT by BOE official Paul Fisher....

What's ironic, is that exerts from this same interview actually caused a brief dip in cable yesterday afternoon, which took out my stop.

However, the severity of today's move is simply a case of a classic short-squeeze, as the market adjusts from extreme oversold levels in sterling and weak shorts are slaughtered in the process.

Sadly, I took nothing from this move.

Cheers, Paul
Better than taking a hit Pual
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #176,616
  • Oct 15, 2009 5:57am Oct 15, 2009 5:57am
Quoting Bull_Bear
She's taking back some of my profits... couple of straight loses.....

Sitting out for, will jump in again later.

Don't worry our beers are safe....
lol, talk about couple of straight losses .. I'm on a roll this week
Must be GM and his girlie pictures that had caused this erection.
GM, I hate you
Thank You
  • #176,617
  • Oct 15, 2009 5:58am Oct 15, 2009 5:58am
Quoting gammase1
It's related to comments made in the FT by BOE official Paul Fisher....

What's ironic, is that exerts from this same interview actually caused a brief dip in cable yesterday afternoon, which took out my stop.

However, the severity of today's move is simply a case of a classic short-squeeze, as the market adjusts from extreme oversold levels in sterling and weak shorts are slaughtered in the process.

Sadly, I took nothing from this move.

Cheers, Paul
Thanks Paul. I also have stayed mostly on the sidelines apart from a few 5 min scalps. Anything more would have had me pulling all my hair out.
You've got to be IN IT to WIN IT!
  • #176,618
  • Oct 15, 2009 5:58am Oct 15, 2009 5:58am
Quoting gammase1
It's related to comments made in the FT by BOE official Paul Fisher....

What's ironic, is that exerts from this same interview actually caused a brief dip in cable yesterday afternoon, which took out my stop.

However, the severity of today's move is simply a case of a classic short-squeeze, as the market adjusts from extreme oversold levels in sterling and weak shorts are slaughtered in the process.

Sadly, I took nothing from this move.

Cheers, Paul
hi Paul ..short squeeze means, killing the short positions and then contination of trend.? sorry to ask stupid questions.

Do u think we are witnessing a trend change, the weekly now is vey bullish and if it closes as high as this is see no 1.53, it might actually just keep rising ..whats yur interpretation what the hell is happening
  • #176,619
  • Oct 15, 2009 5:59am Oct 15, 2009 5:59am
Quoting gammase1
I'd wait for a reversal candle, personally, rather than stand in way of the train.
Unless if he likened himself for Hancock!
Thank You
  • #176,620
  • Oct 15, 2009 5:59am Oct 15, 2009 5:59am
Quoting direct-trade
Hi Geppy,
Cheers, Yep, closed the lot. Waiting to see what happens at this level. Expecting the mother of all stop loss spikes North from the 15720 touched earlier sometime over the next few days. On the other hand, it might never happen and I'll reload Short at decent entry point.

http://www.forexfactory.com/showpost...stcount=175540

I mentioned this at 15720 area and glad I offloaded all Shorts there, seems that the "mother of all stop loss spikes" as mentioned in the above post is certainly playing out....current price 16270...550 pips run should have stopped out most shorts by now. Maybe I jumped in slightly early with a Short at 16208, if Stopped out I'll wait until next week to give this time to settle.

Lets see...

1st chart from earlier post as discussed before on the G/U, G/J, U/J trading thread, 2nd chart where I see us going now...
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