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Cable Update (GBPUSD)

  • #177,121
  • Oct 16, 2009 9:27am Oct 16, 2009 9:27am
Quoting forexlion
crazy week closed

http://cdn.forexfactory.com/attachme...1&d=1255702520

Quoting forexlion
DISCLAIMER:
I have blown accounts, so do not approach me for managed accounts unless you are willing to take the risk involved.
really crazy week closed
  • #177,122
  • Oct 16, 2009 9:30am Oct 16, 2009 9:30am
max up 1.6480 then big retrace..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #177,123
  • Oct 16, 2009 9:33am Oct 16, 2009 9:33am
Quoting Johor JCS
i'll take note on that bro... have a nice weekend. am off to bed now. a day looking at the damn chart. i wish u prosperous trade next week

u too buddy..
  • #177,124
  • Oct 16, 2009 9:34am Oct 16, 2009 9:34am
Good day to you all,

I have been licking my wounds. OK!

Very difficult week for anyone thinking....

I have had more than a shitty week - wiped 3 weeks profits in the space of 2 days.

Short, short, short.....

I posted a while ago - BBTORT - I wanted to post the full extent...

BIGGEST BEAR TRAP OF RECENT TIMES

I fell for this one! Big time...

Well, gentlemen - pick myself up and move on. F*ck this market, and the sister carrying him...

I am more focussed now. I'll be back with a vengeance.. School fees paid.

Did like Chris did yesteday - closed all positions when I got home. Re-focussed. Today, 5 out of 5 - 100%.

I know I can do this. Not difficult. But I am a scalper - 15 min timeframe with reference to 1hr and 4hr. That is my game. 10 to 20 pips a shot....

I wish you all the best and I do hope that everyone can collect themselves and build from here.

Regards
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  • #177,125
  • Oct 16, 2009 9:42am Oct 16, 2009 9:42am
Quoting manize
Hello GM, I need your view. IMHO says start to scalp short but I still scalp long and as usual just only got + 8 pips again !
Hi Manize,

As you know I don't scalp cable. So I really don't want to go there.

....But the way things stand right now, I really feel good in my "long" skin,
it could of course turn at any time, but until I see something formidable that would jeapardize this beautiful bull run, I'm staying where I am.

Trade Well!
Hear the music before the song is over ...
  • #177,126
  • Oct 16, 2009 9:43am Oct 16, 2009 9:43am
Quoting TauTrader
Good day to you all,

I have been licking my wounds. OK!

Very difficult week for anyone thinking....

I have had more than a shitty week - wiped 3 weeks profits in the space of 2 days.

Short, short, short.....

I posted a while ago - BBTORT - I wanted to post the full extent...

BIGGEST BEAR TRAP OF RECENT TIMES

I fell for this one! Big time...

Well, gentlemen - pick myself up and move on. F*ck this...

Did exactly the same thing bro. All profits gone this week and then some. Down 500 as of now.... and haven't had a winner yet. Including (so far) my current short on cable at 6304
Ghost Rider - WWTBMD?
  • #177,127
  • Oct 16, 2009 9:44am Oct 16, 2009 9:44am
The 100 day moving average is where price was rejected at 1.6349. Just in case you didn't catch it. 4hr resistance at 6355, somebody is gonna have to mash that button to make it go north. JMHO
  • #177,128
  • Oct 16, 2009 9:45am Oct 16, 2009 9:45am
Quoting Johor JCS
have u short cable bro? i'm confused. perhaps next week i start to think about shorting cable, atm i prefer to think about places to go during weekend.

nah im on the side lines waiting till i know whats hapening..will wait till open sunday i think
  • #177,129
  • Oct 16, 2009 9:48am Oct 16, 2009 9:48am
Quoting TauTrader
Good day to you all,

I have been licking my wounds. OK!

Very difficult week for anyone thinking....

I have had more than a shitty week - wiped 3 weeks profits in the space of 2 days.

Short, short, short.....

I posted a while ago - BBTORT - I wanted to post the full extent...

BIGGEST BEAR TRAP OF RECENT TIMES

I fell for this one! Big time...

Well, gentlemen - pick myself up and move on. F*ck this...
Don't worry mate your not the only one. I got too creative and reversed just at the wrong time. 3 trades in a row yesterday.......

Your doing alright Tau, keep at it bro
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #177,130
  • Edited 10:28am Oct 16, 2009 9:50am | Edited 10:28am
We may consolidate here for a bit longer before the move. I'm not completely convinced we're going north yet. We haven't had a decnt retrace yet, so I'm flat until we break out of the range and triangle in either direction.

GL on your trades
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  • #177,131
  • Oct 16, 2009 9:51am Oct 16, 2009 9:51am
sell sell sell.... now and eventualy 1.6700
good luck all !!!!
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  • #177,132
  • Oct 16, 2009 9:53am Oct 16, 2009 9:53am
Quoting GlobalMacro
Hi Manize,

As you know I don't scalp cable. So I really don't want to go there.

....But the way things stand right now, I really feel good in my "long" skin,
it could of course turn at any time, but until I see something formidable that would jeapordize this beautiful bull run, I'm staying where I am.

Trade Well!
I see ! Frankly I don't like scalp as well but I don't have the chance entry at the top or at the bottom level. Thank you brother, I understand now, currently not the time to go south if not mistaken !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #177,133
  • Oct 16, 2009 9:56am Oct 16, 2009 9:56am
From the sounds of things in this thread, I'm in good company. I have had a rough week. Only 15pips positive this week! lol
  • #177,134
  • Oct 16, 2009 9:57am Oct 16, 2009 9:57am
So I said earlier don't trade a counter-trend session. But everybody want to Superman.

Features of a Good Trade
-Good Trader click less and sit on hands...
-See wrong trends, or Traps and run.
- When all is right, increase Lot and reap bountiful.
- And later retire wealthy to the waterfront Mansions.


Sounds like very Traders in the market now...
  • #177,135
  • Edited 10:12am Oct 16, 2009 10:01am | Edited 10:12am
Quoting calderone
From the sounds of things in this thread, I'm in good company. I have had a rough week. Only 15pips positive this week! lol
you definitely are mike.
-3.2% in the red this week for me inclusive of current running stop. I've seen better days
Have a good one my friend.
Thank You
  • #177,136
  • Oct 16, 2009 10:05am Oct 16, 2009 10:05am
Quoting manize
I see ! Frankly I don't like scalp as well but I don't have the chance entry at the top or at the bottom level. Thank you brother, I understand now, currently not the time to go south if not mistaken !
You got it bro
Have A Good Weekend!
Hear the music before the song is over ...
  • #177,137
  • Oct 16, 2009 10:07am Oct 16, 2009 10:07am
Time to CRUSH threw 73!

GO BULLS!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #177,138
  • Oct 16, 2009 10:10am Oct 16, 2009 10:10am
Quoting GlobalMacro
You got it bro
Have A Good Weekend!
gm
hats off to you bro, you caught the chicken this week.
Nicely done brother


but you do know I'll have your beer come end of the year don't you? Keep em cold
Thank You
  • #177,139
  • Oct 16, 2009 10:13am Oct 16, 2009 10:13am
Quoting wormboy
you definitely are mike.
-3.2 in the red this week for me inclusive of current running stop. I've seen better days
Have a good one my friend.
Well, I am flat today. I'm gonna enjoy my weekend and come back when the markets reopen and trade my charts.

Worm, Bull Bear, and everyone else-I hope you have a great weekend!

  • #177,140
  • Oct 16, 2009 10:13am Oct 16, 2009 10:13am
I just found this thought to post it
Copy Part-:
Matinee: Bank of England Official Inspires Buyers, Spooks Sellers Pent-up demand and sellers running for cover explains the move by the British pound today. Granted, it was comments from a Bank of England official who sparked the move. Apparently the quantitative easing measures are working as well as they’d have hoped for when this strategy commenced earlier this year.
Thus, traders are quick to jump at the idea that the BOE may not be doing much more pumping in the near future. The pound is up as much as one and a half percent versus the buck; and it’s putting a lickin’ on the euro and yen as well.
Today’s comments not only brought some buyers out of the shadows, but the move above daily consolidation range (resistance) likely led what had become a large number of shorts running to cover their butts.

We can look at this two ways:

 

  1. This is a shake-out move and stops needed to be triggered before the price of the pound can be driven lower.
  2. This is a legitimate change in fortune for the pound after being depressed by traders despite a continued move out of US dollars and into other currencies.

The UK economic concerns are not changed in the wake of the BOE officials recent comments; albeit sentiment could very well have made an important shift. The question is whether or not any change in sentiment will be powerful enough to make the pound appealing to investors.
Considering the mood of the markets, the pound could be undergoing a change in fortune versus the US dollar, starting today; but the strength could prove short-lived

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Girelli