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Cable Update (GBPUSD)

  • #181,381
  • Nov 6, 2009 8:50am Nov 6, 2009 8:50am
Entered short again at 1.6583 for a retest of 1.6533.

TP 1.6508
SL 1.6618

Let's see...
  • #181,382
  • Nov 6, 2009 8:50am Nov 6, 2009 8:50am
Quoting Touchdown
Well firstly the bad news was bad for the US economy, not the bad news for the US dollar. The dollar is traditionally seen as a currency to move to if the economy looks bad because it is seen as more stable. So this news in fact caused the dollar to go higher as people sold off other currencies to buy dollars. What confuses me though is how people still see the US dollar as a safe and stable currency in light of the amount of dollars being printed. I suspect maybe this is why the GBP didnt fall as much? I dont see how selling off the GBP to buy...
That seems to make since lol. Explains why I haven't been able to grasp that concept yet. It always seemed to me like the USD was a representation of the US Economy. NYSE etc...

THANKS!
  • #181,383
  • Nov 6, 2009 8:51am Nov 6, 2009 8:51am
Okay, just as long as you have enough to trade another day.

I'm not a guru or anything myself, I've got a mentor in Forex who just taught me a bit of what she knows and I've been struggling along since. One blown account, and a bit of a rest and I'm now back more cautious - still looking out for other pro's advise on this site as well as checking with my mentor every now and then to see where she thinks things are heading - she's usually right!

Good luck, and don't ever feel scared to make a mistake, recover and move on.

Quoting mloistianto
Thanks for following me. LOL. But no, i'm not closing anything yet. Greed? Perhaps, Eager? Another perhaps. Curious?Indeed.. I have my personal justification on my trade. even though now i loss, that is my proof.. to do better in my next trade. i will not close this until my sl being hit.. i'm planning for a bit longer term. I'm not a pro like all of this people.. But at least, i'm trading for my self.. Thanks for caring. Good Luck to u bro.
  • #181,384
  • Nov 6, 2009 8:53am Nov 6, 2009 8:53am
Quoting Sedaka
A very hard effort to break the support.
nice chart same like mine
but remember it usually breaks third or fourth time this is market u will see
i have observered this a long time ago
ohh what they call.. "History Repeats Itself"

Good luck bro..
Don't compare your Trades with Others
  • #181,385
  • Nov 6, 2009 8:54am Nov 6, 2009 8:54am
Quoting mubyas
could u explain why this reaction happen pls?
U DONT NEED TO EXPLAIN IT BRO..it is what it is

it take one trader to have a difference in view and just must bear that in mind..main thing is to go with it..

thinking why it goes up when u down will make u crazy
  • #181,386
  • Nov 6, 2009 8:56am Nov 6, 2009 8:56am
Quoting TauTrader
Good day to you,

Please do not see this post in the wrong light. This is for the sake of transparency and a log to myself.Should you feel that I must stop posting my weekly progress, feel free to indicate such - I will then refrain.

A mixed week with a 75%/25% win/loss ratio. But added some decent profits.

I want to take the opportunity again to thank all the traders for their contributions. I am learning daily and I will continue to do so. My target is total freedom.... one day...

Wish you all success

My highest regards to the community...
welldone buddy
fantastic record
  • #181,387
  • Nov 6, 2009 8:57am Nov 6, 2009 8:57am
Look at 30 min MACD price rises but MACD is falling
what does this mean??

Exact trend line hmmm
Attached Image (click to enlarge)
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Don't compare your Trades with Others
  • #181,388
  • Nov 6, 2009 8:58am Nov 6, 2009 8:58am
Quoting nAVIN2007
U DONT NEED TO EXPLAIN IT BRO..it is what it is

it take one trader to have a difference in view and just must bear that in mind..main thing is to go with it..

thinking why it goes up when u down will make u crazy
Hi, nav, how do u do mate? still holding that cursed bear in your hand?? LOL..
  • #181,389
  • Nov 6, 2009 9:01am Nov 6, 2009 9:01am
Quoting DubaiFX
Look at 30 min MACD price rises but MACD is falling
what does this mean??

Exact trend line hmmm
Sometimes its take 3x divergence arrow which is strong signal to follow..

G/L
Pride of opinion is a characteristic of losing traders
  • #181,390
  • Nov 6, 2009 9:01am Nov 6, 2009 9:01am
Quoting nAVIN2007
U DONT NEED TO EXPLAIN IT BRO..it is what it is

it take one trader to have a difference in view and just must bear that in mind..main thing is to go with it..

thinking why it goes up when u down will make u crazy
I see what you saying now XD that makes since I just usually follow the 30 min movements and adjust my SL and TP based on the 4hr charts. I will just stay away from trying to understand the news then HAHA!
  • #181,391
  • Nov 6, 2009 9:01am Nov 6, 2009 9:01am
Quoting mloistianto
Hi, nav, how do u do mate? still holding that cursed bear in your hand?? LOL..
yes still in brother..
what will be will be..
Attached Image(s) (click to enlarge)
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  • #181,392
  • Nov 6, 2009 9:02am Nov 6, 2009 9:02am
Quoting DubaiFX
Look at 30 min MACD price rises but MACD is falling
what does this mean??

Exact trend line hmmm
one day, u'll see your indicators turn your trade up side down

and u wish to do the opposite of what your indicators were telling u.
  • #181,393
  • Nov 6, 2009 9:09am Nov 6, 2009 9:09am
Quoting DubaiFX
Look at 30 min MACD price rises but MACD is falling
what does this mean??

Exact trend line hmmm
Most hard behavior to Human to be Patient,Any way
Let's watch where we will go

Ps: have sell e/u 1.49 and g/u 1.6590
  • #181,394
  • Nov 6, 2009 9:10am Nov 6, 2009 9:10am
Quoting maxss280
I see what you saying now XD that makes since I just usually follow the 30 min movements and adjust my SL and TP based on the 4hr charts. I will just stay away from trying to understand the news then HAHA!
enter yur trade..my method is for me...hopefully one day i can setup a trade walk away come back 2 months later and see profit, i dont scalp and am trying to position trade..

normally have good record doing but 1 month wasnt good, i lose £25 noww im in these trades whateven happen will...that is not important the main thing is u see what is infront of u

many will say...but u didnt..."otherwise id be long"

and id agree but im in trades where i could be in another month..if im lucky (im bearish on sterling to 1.6)

its the head nothing else

be lucky
  • #181,395
  • Nov 6, 2009 9:11am Nov 6, 2009 9:11am
Good day to you,

Herewith a short term chart:

1) Watch this level - price retraced and was blocked. This is the high of Wednesday @ 1.6596 in confluence with the 1.6600 number. And do we not know the 1.6600 number!
2) To the downside - 1.6532/1.6530 - watch this number - will not go short above this. (personal)

The daily open @ 1.6580 may call price back. (ok - it has). We are hanging in the middle here - I will not even think of calling a direction until we close today.

I will enter my trades Sunday night when the market opens, and will post them here. (if I see opportunity)

I wish you all a good week-end ahead, rest well and spend some time with your loved ones.

Regards
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  • #181,396
  • Nov 6, 2009 9:13am Nov 6, 2009 9:13am
Quoting nAVIN2007
yes still in brother..
what will be will be..
Dont worry, be patience.. LOL.. good luck for us.. I'm pretty sure this will going down.. even if its not today..
  • #181,397
  • Nov 6, 2009 9:34am Nov 6, 2009 9:34am
Watch again for some volatility. After tight compression
there is rapid expansion of the emas... then the bubble
must pop and draw together again. The cycle continues
often on the 1m timeframes for more trading opportunities.

I don't think the trading day is over yet... just needs to build
more energy for another move... even in a confused market.

Dr. D.
Attached Image
  • #181,398
  • Nov 6, 2009 9:38am Nov 6, 2009 9:38am
Quoting Wincent
that was a war from last night...

my friends loughing with me and with my trade
but my target tched.

did you remember?

eu must go down 60 70 pips

gu 100 pips down.......

yes.

here is my yahoo id: afsoon.bayat

skyp: afsoon.bayat
Quoting Wincent
I am still short my first tp is 6506 and second tp 6480 and third tp 6455 and fourth 6435

eu must go down some 60 - 100 pips again
where is your 100pips? from where to where?BS....

did i lough at u....bs call yesterday for dropping at 506 during NY..that it...unless u say today....nfp...but still not yet reach...

yesterday is yesterday talk..today is today talk....

anyway good for u....dun worries am still here to have some fun with my Maria just now....n just visit GU....n post ur chart is better
  • #181,399
  • Nov 6, 2009 9:39am Nov 6, 2009 9:39am
Quoting TauTrader
Good day to you,

Herewith a short term chart:

1) Watch this level - price retraced and was blocked. This is the high of Wednesday @ 1.6596 in confluence with the 1.6600 number. And do we not know the 1.6600 number!
2) To the downside - 1.6532/1.6530 - watch this number - will not go short above this. (personal)

The daily open @ 1.6580 may call price back. (ok - it has). We are hanging in the middle here - I will not even think of calling a direction until we close today.

I will enter my trades Sunday night when the market opens, and will...
Good analysis. I agree with you that 1.6530 level is the one to watch. If we don't break this on the retest, not good news for shorts. I'm short from 1.6583 though as I do think we will test his level again today and possibly break it, but that's my personal opinion and trading strategy. Sound money management you got there, well done on those profits bro.
  • #181,400
  • Nov 6, 2009 9:40am Nov 6, 2009 9:40am
Talk about divergence - the US payroll figures come out nasty and the DOW has reached dizzy heights and still euro/cable are up there

Glad I sold a chunk of shares yesterday at DOW 10k - I expect a pull back with the currencies following

I dont go 100% on charts - when the DOW hit 14,000 I am sure all the charts said full sail ahead

ok shorts are on and in the black already
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