Cable Update (GBPUSD) | Page 9066 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #181,301
  • Nov 6, 2009 6:28am Nov 6, 2009 6:28am
I don't post much but that was a great post. Its says it all.

Pips to everyone.
  • #181,302
  • Nov 6, 2009 6:28am Nov 6, 2009 6:28am
Quoting TauTrader
Good day to you, Chris!

Are you in on a short position on GU?

Regards
Yes sir but seriously thinking about re-considering here....
Ghost Rider - WWTBMD?
  • #181,303
  • Nov 6, 2009 6:49am Nov 6, 2009 6:49am
Also short from 1.6604. Looking for a break and close below 1.6583 on the 15M to add to that but looking more likely that we will range between 1.6634 and 1.6583 today (then again it is Friday). Moved SL to BE as price is now below the 50 MA on 15 min, so its now or never for me. Will wait for break of either level to confirm direction if I get stopped out.
  • #181,304
  • Nov 6, 2009 6:51am Nov 6, 2009 6:51am
Quoting Islander
LOL - it never ceases to amaze me how little notice some people take of serious posts warning that is time to be on the sidelines - longer term or expert news traders excepted....
Very true. W C Fields said it best....
"Timing Is Everything. Really I Swear It Is"
  • #181,305
  • Nov 6, 2009 6:51am Nov 6, 2009 6:51am
Quoting albchr
Yes sir but seriously thinking about re-considering here....
Personally, I'd steer clear of fresh positions, unless of course someone knows the NFP number and unemployment rate ahead of the market and can also guarantee the reaction in the FX sphere once the data is announced.

Let the market settle after the data and then look for position. There will be plenty of opportunities.

My two cents
  • #181,306
  • Nov 6, 2009 6:52am Nov 6, 2009 6:52am
Quoting Touchdown
Also short from 1.6604. Looking for a break and close below 1.6583 on the 15M to add to that but looking more likely that we will range between 1.6634 and 1.6583 today (then again it is Friday). Moved SL to BE as price is now below the 50 MA on 15 min, so its now or never for me. Will wait for break of either level to confirm direction if I get stopped out.

If we stay in that range today I will buy you a car.
"Timing Is Everything. Really I Swear It Is"
  • #181,307
  • Nov 6, 2009 6:53am Nov 6, 2009 6:53am
Quoting gammase1
Personally, I'd steer clear of fresh positions, unless of course someone knows the NFP number and unemployment rate ahead of the market and can also guarantee the reaction in the FX sphere once the data is announced.

Let the market settle after the data and then look for position. There will be plenty of opportunities.

My two cents
Unless they are punters Paul.... lol
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #181,308
  • Nov 6, 2009 6:55am Nov 6, 2009 6:55am
Quoting Bull_Bear
Unless they are punters Paul.... lol
Fair enough, in that case they should have some fun.

A bit like taking a punt on the Melbourne Cup - an event I steered clear of this year, given my terrible record in betting on sport events.

Hope you're good, BB.
  • #181,309
  • Nov 6, 2009 6:58am Nov 6, 2009 6:58am
Quoting albchr
Yes sir but seriously thinking about re-considering here....
I have 3 tops on dow 5m chart....

It feels like it wants to go up... we will see who wins...

And after all it`s just one trade....
  • #181,310
  • Nov 6, 2009 7:00am Nov 6, 2009 7:00am
Quoting TexasforEX
If we stay in that range today I will buy you a car.
Lol, can I choose the color too? No you are right, highly unlikely. Can sure feel that way though when we're stuck in this range for so long. Common bears!
  • #181,311
  • Nov 6, 2009 7:03am Nov 6, 2009 7:03am
Quoting gammase1
Personally, I'd steer clear of fresh positions, unless of course someone knows the NFP number and unemployment rate ahead of the market and can also guarantee the reaction in the FX sphere once the data is announced.

Let the market settle after the data and then look for position. There will be plenty of opportunities.

My two cents
Agreed Paul. In fact i just closed my 6581 short at BE. Still holding the 6612 atm but may just cover it before news.
Ghost Rider - WWTBMD?
  • #181,312
  • Nov 6, 2009 7:04am Nov 6, 2009 7:04am
Quoting gammase1
Fair enough, in that case they should have some fun.

A bit like taking a punt on the Melbourne Cup - an event I steered clear of this year, given my terrible record in betting on sport events.

Hope you're good, BB.
All good bro, I had a huge week on the market this week, not even the Melbourne cup can dampen my show. The boys know what i've kicked in this week.

Keep rollin' in the pips Paul....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #181,313
  • Nov 6, 2009 7:07am Nov 6, 2009 7:07am
Quoting Bull_Bear
All good bro, I had a huge week on the market this week, not even the Melbourne cup can dampen my show. The boys know what i've kicked in this week.

Keep rollin' in the pips Paul....
That's great to hear, BB!

This week has been very slow for me, with one step forward followed by one step back. I made a killing in the first three weeks of October but ended up giving a too large a portion of those gains back to the market in the final week of the month. So it's not been the best couple of weeks. But let's see what the data brings - plenty of opportunities abound.

Cheers
  • #181,314
  • Nov 6, 2009 7:07am Nov 6, 2009 7:07am
Hi Akins - seems you're a newbie, on this forum at least.

For what it's worth, I'd say if you're still asking what to do at this late hour, best advice is DON'T TRADE. Yes, NFP is an 'opportunity' (only if you're a newstrader - which I suspect you're not), but it can also be an account killer if you don't manage your trade well.
There are many 'opportunities' every minute of the day when trading so don't rush into taking a position after NFP so you don't end up regretting.
I've recently returned from having my account taken out, and I'm letting many opportunities pass me by whilst I wait for the occassional 'sureties' if there's any such thing in FX.
Good luck, but don't feel under any pressure to trade the NFP news.

Quoting tundeakins
Please what should we be expecting from the news coming out from the US now. Should we trade. Please what are the signals to bepart of this great opportunity that is going to happen in the next one and half hour?
  • #181,315
  • Nov 6, 2009 7:10am Nov 6, 2009 7:10am
Just added sell entry 1.6545
TP -1.6475
SL - N/A

Anyone else?
Trade what you see. Write what you feel
  • #181,316
  • Nov 6, 2009 7:10am Nov 6, 2009 7:10am
Quoting alexandru987
I have 3 tops on dow 5m chart....

It feels like it wants to go up... we will see who wins...

And after all it`s just one trade....
Dow just creeped higher... finally passing the tops it`s been making since last night... fingers crossed...
  • #181,317
  • Nov 6, 2009 7:11am Nov 6, 2009 7:11am
Quoting bbmac
Yeh agree

My favoured tactic (simplistically put below) post nfp release if, and only if there is a clear direction taken by the market in reaction to it is to either

a. price goes up-sell first hi-and buy first pullback @ any retest of broken resistance

-or conversely-

b. price goes down-buy first lo-and sell first pullback @ any re-test of broken support

As I say above this is a simplistic explanation and whether i do it depends on a number of other factors, but it is a ttypical posts news/data play that may develop (or...
LOL - when I news trade I use a similar system - I also pull a fib over the news spike and find the 50% level is rather useful....http://cdn.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #181,318
  • Nov 6, 2009 7:15am Nov 6, 2009 7:15am
Quoting e_piz
Just added sell entry 1.6545
TP -1.6475
SL - N/A

Anyone else?
What if, say, the number is -150k and equities shoot north, the dollar comes under renewed pressure and cable breaks 1.6740, clearing resistance and neckline on inv H&S? Will you continue to hold short if price gains momentum for an attack on 1.7030? What is your exit strategy, apart from a margin call?
  • #181,319
  • Nov 6, 2009 7:17am Nov 6, 2009 7:17am
Quoting e_piz
Just added sell entry 1.6545
TP -1.6475
SL - N/A

Anyone else?
Nope, holding onto short from 1.6604 with SL at BE. All my signals show short but waiting for NFP in 15 min before deciding. Unless you know how to trade the news I suggest you stay out.
  • #181,320
  • Nov 6, 2009 7:18am Nov 6, 2009 7:18am
Afternoon all,

Im getting the feeling that there are one or two chaps posting here that dont quite realise what is about to happen in 15 mins time, she can swing in both directions 100 + pips in a matter of minutes, if you are new at the game, be very careful!

I lost £200 on my first ever NFP release, it took about 20 seconds, thank god for my stop!

I do have a method for trading it, but I am not sure if I will put it into practice today, even if I do it would only be at about a tenth of my usual lot size!

Best of luck!
459 traders viewing now, 1 is registered:
CPUmice