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Cable Update (GBPUSD)

  • #180,761
  • Nov 4, 2009 10:09am Nov 4, 2009 10:09am
Quoting poortrader
Dont worry hope it will not touch it

I pray for you
LOL. thanks. very appreciated. well, its not a problem of lost or win anymore. but regret it is. I cannot bear the guilt of my greed. when i want to close it at the bottom, i was holding back. thanks anyway..
  • #180,762
  • Nov 4, 2009 10:10am Nov 4, 2009 10:10am
Stops above 1.66 could easily be triggered. Especially, with FOMC today.
  • #180,763
  • Nov 4, 2009 10:13am Nov 4, 2009 10:13am
Trade Idea Short GBP/USD @ 1.6645 SL 100 TP 600
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 22 KB
  • #180,764
  • Nov 4, 2009 10:15am Nov 4, 2009 10:15am
Quoting ams
Will ride from the TOP chris!
You betcha buddy....
Ghost Rider - WWTBMD?
  • #180,765
  • Nov 4, 2009 10:16am Nov 4, 2009 10:16am
Too bad my short hit SL @1.6580 (-20pips). Im going to rest for awhile, will be back just before US news annoucement.
Night Stalker
  • #180,766
  • Nov 4, 2009 10:18am Nov 4, 2009 10:18am
hey guys,
hope all do well, was pretty convinced this morning cable goes north but for couple reasons not sure so i sitting out flat all day, to short above 1.66 is a tough call but if we stay below it could be a nice spot for bears in my opinion, however best of trades to ya ill stay flat for now
  • #180,767
  • Nov 4, 2009 10:27am Nov 4, 2009 10:27am
Hi all
Just back from work
As i thought...I'm aside
http://www.forexfactory.com/showthre...68#post3205068
  • #180,768
  • Nov 4, 2009 10:33am Nov 4, 2009 10:33am
Quoting cannarek
I would be very very careful with shorts now
bulls rule
  • #180,769
  • Nov 4, 2009 10:38am Nov 4, 2009 10:38am
Quoting cannarek
bulls rule
Who cares about bulls andbears.. LOL. what i care is profit. I'm shorting now, i'm pretty confident about my sl, if it hit, then my trades gone. thats it right? stick to your plan and you will be doomed.. LOL JK.
  • #180,770
  • Nov 4, 2009 10:51am Nov 4, 2009 10:51am
Sorry, just a question, why shorting now? The bullish move shows no sign of abating so just interested in your views as to why now is a good time to short?

Quoting mloistianto
Who cares about bulls andbears.. LOL. what i care is profit. I'm shorting now, i'm pretty confident about my sl, if it hit, then my trades gone. thats it right? stick to your plan and you will be doomed.. LOL JK.
  • #180,771
  • Nov 4, 2009 10:57am Nov 4, 2009 10:57am
Quoting isguru
Sorry, just a question, why shorting now? The bullish move shows no sign of abating so just interested in your views as to why now is a good time to short?
Although I'm not shorting (yet). 6600 is tough resistance IMHO. Good RR with a tight stop if you ask me.
Ghost Rider - WWTBMD?
  • #180,772
  • Nov 4, 2009 10:58am Nov 4, 2009 10:58am
Quoting isguru
Sorry, just a question, why shorting now? The bullish move shows no sign of abating so just interested in your views as to why now is a good time to short?
actually, i am not shorting now. but before. if you move back a few pages before. i posted it earlier. well, i was wrong thinking the bulls over around 1.6476 area. well, but i did it. Now if you are looking at your chart. its a 1 hour resistance now. well my sl is slightly above 1.6600.. Good Luck.. the point is, i'm holding my short till the end of my SL.
  • #180,773
  • Nov 4, 2009 10:59am Nov 4, 2009 10:59am
Quoting albchr
Although I'm not shorting (yet). 6600 is tough resistance IMHO. Good RR with a tight stop if you ask me.

I wonder how tough it will be with the pending news??
  • #180,774
  • Nov 4, 2009 11:01am Nov 4, 2009 11:01am
It is unwised to short right now. Too many forecasted good economic news which will favor investor to dump dollar for buying stock. So from fundamental side, bulls is more favorable.
From technical side, price above kumo at all tf below weekly, suggesting price to test once again weekly resistance kumo senkou span B at 1.6829 (this is related to my second reason).
Second reason, if you look at weekly chart closely you'll see a very rare but strongly reliable cup and handle bullish long term pattern. The handle has been finished and now price going up trying to break the handle resistance. If it break, it will target at least 1.93 (yeah right, keep on dreaming pal.. ) I'm not attaching chart here, you guys find it by yourself. Technical side also favor for bulls.

Just a humble opinion from someone who just join FF forum

Cheers and good trade for everybody.
  • #180,775
  • Nov 4, 2009 11:03am Nov 4, 2009 11:03am
Don't worry, another opportunity to short will come from higher up - though I believe your stop loss will be taken out this evening.

Good luck and we win some and lose some - I've missed a great opportunity to go long out of fear, which is worse than taking a wrong trade and having your stop loss hit.

Don't worry, you'll get your losses back again, just don't short too soon to recover your losses.

Good luck okay.

Quoting mloistianto
actually, i am not shorting now. but before. if you move back a few pages before. i posted it earlier. well, i was wrong thinking the bulls over around 1.6476 area. well, but i did it. Now if you are looking at your chart. its a 1 hour resistance now. well my sl is slightly above 1.6600.. Good Luck.. the point is, i'm holding my short till the end of my SL.
  • #180,776
  • Nov 4, 2009 11:11am Nov 4, 2009 11:11am
Quoting isguru
Don't worry, another opportunity to short will come from higher up - though I believe your stop loss will be taken out this evening.

Good luck and we win some and lose some - I've missed a great opportunity to go long out of fear, which is worse than taking a wrong trade and having your stop loss hit.

Don't worry, you'll get your losses back again, just don't short too soon to recover your losses.

Good luck okay.
Do u believe in bulls? we will look into that later pal. bulls always deceiving. bear is more honest.
  • #180,777
  • Nov 4, 2009 11:12am Nov 4, 2009 11:12am
Albchr

Missed your posts here, and note you haven't been on DT's site either - welcome back and hope you're well.

Not sure about 6600 being that strong a resistance for today's FOMC as we're so close to it so late in the day - I think it will shoot through 1.6600 post FOMC, or go down a bit to try to fool all of us to go short, before heading North again. These market makers know what they're doing, and they're not on our side as retailers, trust me! It's been a rapid learning curve for me, but I'm getting there and learning to take responsibility for each trade by planning each one now, rather than just rushing headlong in along with the crowd - with no regard for those market makers who seem to take pleasure in wiping out us minnows carefully placed stop losses before moving the market in the direction they want it to go.

Will be interesting to see how tough a nut 6600 proves to crack post FOMC, if it doesn't give way tonight then, it will probably drop enough to encourage more shorts, then Asia will bring it back up tonight to wipe out those who have gone short yet again.

The joys of Forex Trading



Quoting albchr
Although I'm not shorting (yet). 6600 is tough resistance IMHO. Good RR with a tight stop if you ask me.
  • #180,778
  • Nov 4, 2009 11:15am Nov 4, 2009 11:15am
As soon as the news comes out the charts will start doing their spikey thing up and down like an attention deficit yoyo
They do say the first move is the false one

We ALL know they are going to say no increase and they continue to monitor or whatever

Presumably this means more upside for cable but it's so high now I dont feel like jumping in

Perhaps if the first move is down then a long could be a goer

Praps
  • #180,779
  • Nov 4, 2009 11:16am Nov 4, 2009 11:16am
Quoting mloistianto
Who cares about bulls andbears.. LOL. what i care is profit. I'm shorting now, i'm pretty confident about my sl, if it hit, then my trades gone. thats it right? stick to your plan and you will be doomed.. LOL JK.
I did the same thing, but we are seeing a resistance at R2 and the trend lines do look a little more favourable. I'll be glad to close at BE 6510 You pray for me and I'll pray for you...
  • #180,780
  • Nov 4, 2009 11:22am Nov 4, 2009 11:22am
Quoting isguru
with no regard for those market makers who seem to take pleasure in wiping out us minnows carefully placed stop losses before moving the market in the direction they want it to go.
I can prove that my s/l's are hit right to the very pip before it reverses - that's why I only put tight s/l's on when I am satisfied with the profit but have low confidence that I will get more

Its the same as closing out right there and then as they whack the sl and then shoot back..

I bet I could prove the manipulation statistically if I could be arsed

Anyway we are on to the gits so we dont get fooled again ok
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