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Cable Update (GBPUSD)

  • #179,021
  • Oct 27, 2009 5:08am Oct 27, 2009 5:08am
Just opened up my short for the start of the 3rd wave down. Will post a trade review later today.

Cheers Sion
  • #179,022
  • Oct 27, 2009 5:10am Oct 27, 2009 5:10am
Hello Guys

What do you think about short @1.6460 area ???
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  • #179,023
  • Oct 27, 2009 5:11am Oct 27, 2009 5:11am
Hey guys,

Just start trading Cable. Accidently longed instead of short just then. (in profit though )

But does anyone have a sort of idea where it might top out? Or anyone here longing GBP? I know that the GDP was worse than expected and I did ride it down a little.
  • #179,024
  • Oct 27, 2009 5:13am Oct 27, 2009 5:13am
Quoting SwissKinseb
Hello Guys

What do you think about short @1.6460 area ???
I see 1.6443 as a critical line on the 4hr chart, a break and hold could mean moving on to higher ground, as well as we just crossed and seem to be holding the 200ma on an hourly.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,025
  • Oct 27, 2009 5:14am Oct 27, 2009 5:14am
Quoting welshguy2000
Just opened up my short for the start of the 3rd wave down. Will post a trade review later today.

Cheers Sion
Will look forward to it. Cheers.
You've got to be IN IT to WIN IT!
  • #179,026
  • Oct 27, 2009 5:18am Oct 27, 2009 5:18am
Quoting welshguy2000
Just opened up my short for the start of the 3rd wave down. Will post a trade review later today.

Cheers Sion
why shorT? it looks like pattern W is constructing..
  • #179,027
  • Oct 27, 2009 5:18am Oct 27, 2009 5:18am
Quoting Magix
I see 1.6443 as a critical line on the 4hr chart, a break and hold could mean moving on to higher ground, as well as we just crossed and seem to be holding the 200ma on an hourly.
why 1.6443 ? thank's
  • #179,028
  • Oct 27, 2009 5:19am Oct 27, 2009 5:19am
Quoting SwissKinseb
why 1.6443 ? thank's
MA24 on 4hr.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,029
  • Oct 27, 2009 5:21am Oct 27, 2009 5:21am
Quoting T55
Hey guys,

Just start trading Cable. Accidently longed instead of short just then. (in profit though )

But does anyone have a sort of idea where it might top out? Or anyone here longing GBP? I know that the GDP was worse than expected and I did ride it down a little.
TP 1.6426... may as well take the profit in uncertainty
  • #179,030
  • Oct 27, 2009 5:21am Oct 27, 2009 5:21am
Quoting antic81
Unfortunately I entered a little later than you than you and ran a bit of a tight stop just below a line of support...I was stopped out -25 pips...by 0.7 of a pip! Straight after that, up she shot to 390..my TP...damn you cable!LOL!

I have now set a new record for the most consective losses in my trading carreer, 6 in a row...its terrible, I am at a loss for words with my performance, on three of them I was stopped out by 1 -2 pips before the trade continued in my direction...on a positive note, atleast my calls seem to be correct, my stop is what...
Hate to see a fallen soldier. I tend to take a break if I have 3 consecutive loses in a row. That helps me clear my head psychologically when i get back to the grunt.

A stop loss of 25-30 is quite small for cable. Have you tried widening your SL to keep you from been taken out so frequently?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #179,031
  • Oct 27, 2009 5:27am Oct 27, 2009 5:27am
I got a Bearish Butterfly around 6420-25, after price moved to 6433, got alert "failed butterfly".
ABCD..
  • #179,032
  • Oct 27, 2009 5:30am Oct 27, 2009 5:30am
Quoting antic81
Unfortunately I entered a little later than you than you and ran a bit of a tight stop just below a line of support...I was stopped out -25 pips...by 0.7 of a pip! Straight after that, up she shot to 390..my TP...damn you cable!LOL!

I have now set a new record for the most consective losses in my trading carreer, 6 in a row...its terrible, I am at a loss for words with my performance, on three of them I was stopped out by 1 -2 pips before the trade continued in my direction...on a positive note, atleast my calls seem to be correct, my stop is what...
practise makes perfect.
may you try to put your SL on 5-10 pip below today-Low or above today-HIGH. quite wide range but surely can minimize being stopped.
and need perfect entry-timing.
have a good trade
  • #179,033
  • Oct 27, 2009 5:31am Oct 27, 2009 5:31am
Quoting Bull_Bear
Hate to see a fallen soldier. I tend to take a break if I have 3 consecutive loses in a row. That helps me clear my head psychologically when i get back to the grunt.

A stop loss of 25-30 is quite small for cable. Have you tried widening your SL to keep you from been taken out so frequently?

Thanks mate,

Yeah I have changed my strategy this week, quartered my lot size and increased my max stop 4 fold, this is limmited by my strict MM, I figured instead of taking 40 pips on a move, I could hold out for a longer trade, the bigger move and look for around 100 pips instead, now its all about getting my entry in the right place!

Appreciate your input immensely mate, place seems to have lost a few regulars of late?
  • #179,034
  • Oct 27, 2009 5:33am Oct 27, 2009 5:33am
Trying a small short @ 1.6429
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,035
  • Oct 27, 2009 5:40am Oct 27, 2009 5:40am
sell cable

1.6434, SL 1.6520, TP 1.6180

Apologies for the late posting... Was busy
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #179,036
  • Oct 27, 2009 5:41am Oct 27, 2009 5:41am
GBPUSD 1.6356 TP @1.6436. 80 pips. Enough. Positive start with forex
To be continued... i hope
  • #179,037
  • Oct 27, 2009 5:44am Oct 27, 2009 5:44am
Short closed.

Weeeeeeeeeeeeeeeeeeeee!

Will wait for confirmation on 5m chart for continuation of play!

CHA CHING!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,038
  • Oct 27, 2009 5:45am Oct 27, 2009 5:45am
Quoting antic81
Thanks mate,

Yeah I have changed my strategy this week, quartered my lot size and increased my max stop 4 fold, this is limmited by my strict MM, I figured instead of taking 40 pips on a move, I could hold out for a longer trade, the bigger move and look for around 100 pips instead, now its all about getting my entry in the right place!

Appreciate your input immensely mate, place seems to have lost a few regulars of late?
Yeah kinda over this place with a few idiots. I hop on and share my trades when i feel like it nowadays.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #179,039
  • Oct 27, 2009 5:50am Oct 27, 2009 5:50am
Trying another short @ 1.6424
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,040
  • Oct 27, 2009 5:50am Oct 27, 2009 5:50am
am bias towards bull atm. 6475...next 6551.

6280 am looking for short
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