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Cable Update (GBPUSD)

  • #179,421
  • Oct 28, 2009 9:11am Oct 28, 2009 9:11am
dont think its a big boys' trick ...its the news
  • #179,422
  • Oct 28, 2009 9:12am Oct 28, 2009 9:12am
Loaded long at 6375, it seems that gbp doesn't give a s**t about news, just wants to go up again.
  • #179,423
  • Oct 28, 2009 9:13am Oct 28, 2009 9:13am
Quoting Stocky Monk
Well said GM.....

'Antic81' you can only load up the odds in your favour before executing a trade i.e. do your homework. If it dont work the way you want it, forget about it and move on to the next trade with a clear head.
this is unfair the only thing i would say is GM is right u cant worry about this movement (not predictable) unless yur scalping..pick a direction, play yur edge..if yur wrong, who cares no edge is 100% its probability

move on to the next setup..theres no right or wrong
  • #179,424
  • Oct 28, 2009 9:16am Oct 28, 2009 9:16am
Quoting sonicdeejay
I see the big vol...looks like big boys loading up Short..after eating up newbie Long's stop ...

http://cdn.forexfactory.com/attachme...1&d=1256738072

Sonic
See if it slides back to 1.629x lvl again...

Sonic
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  • #179,425
  • Oct 28, 2009 9:19am Oct 28, 2009 9:19am
I would like to see the price retrace a bit before I would enter long again. I still see some bull power. Maybe around6349-the 200sma or at 6355-fib.
  • #179,426
  • Oct 28, 2009 9:24am Oct 28, 2009 9:24am
Quoting Endrju
Loaded long at 6375, it seems that gbp doesn't give a s**t about news, just wants to go up again.
out for 15 pips, was waiting for stronger move, so not sure right now
  • #179,427
  • Oct 28, 2009 9:25am Oct 28, 2009 9:25am
GBP is building a camp on a fresh support ...there is a lot of up room

the break out on strong volume too
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  • #179,428
  • Oct 28, 2009 9:29am Oct 28, 2009 9:29am
After experiencing slight loss with TL on short jumped to n.bound looking good so far... take yr point on retracement tho.
  • #179,429
  • Oct 28, 2009 9:30am Oct 28, 2009 9:30am
Quoting calderone
I would like to see the price retrace a bit before I would enter long again. I still see some bull power. Maybe around6349-the 200sma or at 6355-fib.
Good day to you,

The most probable entry for joining long, should this be your personal bias, would be a touch of 1.6368. But I do not think we will see that level for the next 4 to 6 hours again.

High probability for more upside still to come. Just my opinion.

Wish you success

Regards
  • #179,430
  • Oct 28, 2009 9:33am Oct 28, 2009 9:33am
Quoting nAVIN2007
this is unfair the only thing i would say is GM is right u cant worry about this movement (not predictable) unless yur scalping..pick a direction, play yur edge..if yur wrong, who cares no edge is 100% its probability

move on to the next setup..theres no right or wrong
Hi Navin,

Not being unfair here to antic.. Im just saying all you can do is try and roll the dice in your favour as there is no 100% clear signal trade and if it dont work out after that...forget about it and dont let it effect your next trading decision. i.e. dont get caught up with emotional trades that can really effect your P&L.

good luck trading!
  • #179,431
  • Oct 28, 2009 9:35am Oct 28, 2009 9:35am
Quoting TauTrader
Good day to you,

The most probable entry for joining long, should this be your personal bias, would be a touch of 1.6368. But I do not think we will see that level for the next 4 to 6 hours again.

High probability for more upside still to come. Just my opinion.

Wish you success

Regards
Thanks, glad you caught that. I was hoping to go long from at least 20 pips lower for a better price but the candles are telling me the same thing you said.

Good pips to you too!
  • #179,432
  • Oct 28, 2009 9:45am Oct 28, 2009 9:45am
My current view here:


http://www.forexfactory.com/showpost...&postcount=261

Holding Long 16395 form yesterday, I see 167 by Friday.

Happy Trades
  • #179,433
  • Oct 28, 2009 9:46am Oct 28, 2009 9:46am
Quoting calderone
Thanks, glad you caught that. I was hoping to go long from at least 20 pips lower for a better price but the candles are telling me the same thing you said.

Good pips to you too!
Good day to you, thank you for your wishes - but I was actually stopped out from my initial posted entries long @ 1.6361 and 1.6354 - stopped out @ 1.6330 ( placed just below the close of Tuesday sitting @ 1.6334)

Re-entered long @ 1.6297 and 1.6307. These I am now holding. I do believe we still have some more up movement due for the next couple of hours....(just opinion)

I wish you all success

Regards
  • #179,434
  • Oct 28, 2009 9:49am Oct 28, 2009 9:49am
H&SH
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  • #179,435
  • Oct 28, 2009 9:49am Oct 28, 2009 9:49am
Quoting direct-trade
My current view here:


http://www.forexfactory.com/showpost...&postcount=261

Holding Long 16395 form yesterday, I see 167 by Friday.

Happy Trades

Saw the wedge on the 15m, seems it got halfway and stopped for a breather. Good luck to you.
  • #179,436
  • Oct 28, 2009 9:52am Oct 28, 2009 9:52am
Quoting direct-trade
My current view here:


http://www.forexfactory.com/showpost...&postcount=261

Holding Long 16395 form yesterday, I see 167 by Friday.

Happy Trades
Good day to you,

Well, that would just be awesome... I battle to "see" the extent of the current move up. I just know there is a higher probability long, than short right now...

Target I am aiming for @ 1.6465 ( the 50% line of last weeks PA)

Good trading to you, DT

Regards
  • #179,437
  • Oct 28, 2009 9:53am Oct 28, 2009 9:53am
Quoting frito
GBP broke up...
Interesting!!
  • #179,438
  • Oct 28, 2009 9:55am Oct 28, 2009 9:55am
Quoting Alison
Hello Antic,

Have you spent any time in the 'trade what you see not what you expect thread'?

There's a lot of extremely useful info there that you might find helpful. It's helped me to look out for reversals at key areas - like yesterdays low, which is where we reversed today.

Also, and this is from my own observations and not yet proven through the test of time - if you drew the range this morning it was in the middle of yesterdays price range. It seems that when this happens, the previous days highs and lows are important to watch for potential...
Hi Alison,

I hope you are well!

I will take a trip over and give it a look, thanks very much.

Been trading live for 4 months now and suddenly I seem to have hit a brick wall, I hadnt changed my entry rules or anything, played it exactly the same, the only difference is I have recently reduced my lot size which has given me more room for my SL, although today that seemed to make no difference, I have now been stopped out by 1 point on four of my trades, however this one looks like it was the wrong decission, and it may now head the other way, I was a little concerned with the way it moved off my daily pivot, in all honesty, I really should have entered yesterday at 6434, but I missed the entry, so sat on my hands, now looks like I should have sat on my hands today, but the entry was there, on the 4H it broke resistance and then the following candle looked good, that was the basis of my entry.

This is now my seventh consecutive loss, in my head I know that there is no logical reason for this to continue...but its a new experience to lose so many times on the trot, I am trying to analyse it to see what I may have changed and not realised...confidence is now at an all time low, that is for sure.

Will take the advice on board all,

Many thanks!
  • #179,439
  • Oct 28, 2009 10:02am Oct 28, 2009 10:02am
tau trader, what do u think of selling off the cable at 1.6464...
  • #179,440
  • Oct 28, 2009 10:05am Oct 28, 2009 10:05am
The lack of response by the GBP to the news and moves in the S&P are very frustrating. Something gotta give either 6300 or 6400.
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