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Cable Update (GBPUSD)

  • #184,061
  • Nov 19, 2009 2:16pm Nov 19, 2009 2:16pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Hi Azim

Where have you moved your stop loss to, i.e. how far are you prepared to let this retrace (if it does retrace further) before closing these shorts for now?

Just trying to understand how you trade, as I'm a newbie, i.e. if cable goes down to 1.5990/1.6605 tomorrow then goes back up to 1.679/1.68x, will you wait for cable to retrace to b/e or close your shorts before then?


Quoting wormboy
Took the trade 22 hours ago.

Trade details :

1. http://www.forexfactory.com/showpost...postcount=3927
2. http://www.forexfactory.com/showpost...postcount=3933
  • #184,062
  • Nov 19, 2009 2:20pm Nov 19, 2009 2:20pm
Quoting malcolmb14
I think they heard the kebab and curry reteraunts were good ....lol

they did not hear that in order for a kebab with extra chili sauce to be good at 1am in the morning , you would need about 10 pints of beer before eating it

Both of us had a mega 'hughey' session after khyber curry in england last month

I usually tell em wife is Canadian (she is yanky) so they dont poison us - but I forgot - so they went on afghan 'cooking for western guests' site and found a way to make us hurl I reckon

People from the coalition of the willing shouldn't risk curries

Still Short but worried (like Napoleon at Waterloo)
  • #184,063
  • Nov 19, 2009 2:25pm Nov 19, 2009 2:25pm
Quoting allserene
Both of us had a mega 'hughey' session after khyber curry in england last month

I usually tell em wife is Canadian (she is yanky) so they dont poison us - but I forgot - so they went on afghan 'cooking for western guests' site and found a way to make us hurl I reckon

People from the coalition of the willing shouldn't risk curries

Still Short but worried (like Napoleon at Waterloo)

  • #184,064
  • Nov 19, 2009 2:29pm Nov 19, 2009 2:29pm
Possible hold of current area shows possible higher movement. Target support and resistance on the chart.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,065
  • Nov 19, 2009 2:36pm Nov 19, 2009 2:36pm
Quoting FxGainTrader
Wormboy. Looking at same but thinking I need to see a clear break below the green line before anything is confirmed. What say you? Right now 1 hr PA is showing buyers coming although lower volume. But like you say, over 168 would invaildate. Waiting . Notice RSX as well. Thinking at least one more up move before we drop at whatever level we ultimately drop.
Hi, I will not discount the possibility of what you had just said.
I cant comment on the upmove as you have not mentioned how much "up".
Daily gbplfx had been pointing down since yesterday and I have not spot anything to suggest that price might turn completely. Not yet at least.
Will wait for the close to confirm.
Have a good one
Thank You
  • #184,066
  • Nov 19, 2009 2:37pm Nov 19, 2009 2:37pm
long EURCAD at 1.5857 target 1.5891
stop loss at BE if we hit 1.5885
dont copy
When life gives you lemons, make lemonade
  • #184,067
  • Nov 19, 2009 2:51pm Nov 19, 2009 2:51pm
Quoting fourxtrader
Watch for another sudden move building off this 1m compression.

Dr. D.
1m compressions without other tf's in agreement don't
often have the energy to move very far. It might take
a few oscillations to slingshot away from the pack.

Well, 20+ pips isn't chopped liver.

Dr. D.
Attached Image
  • #184,068
  • Nov 19, 2009 2:51pm Nov 19, 2009 2:51pm
gone long

as long as.... you know...

working on 15m and looking and the rounded dished bottom (perhaps)

got out of short at b/e phew it never happened all this sub 1.6620 stuff will have to wait

perhaps some more time to buy BP shares
  • #184,069
  • Nov 19, 2009 3:01pm Nov 19, 2009 3:01pm
Quoting wormboy
Hi, I will not discount the possibility of what you had just said.
I cant comment on the upmove as you have not mentioned how much "up".
Daily gbplfx had been pointing down since yesterday and I have not spot anything to suggest that price might turn completely. Not yet at least.
Will wait for the close to confirm.
Have a good one
As far as up move target, atm I can only guess that if it does move up measurably, one of three targets are possible. 1.6741 (50% fib), 1.6876 and of course a stretch up to the upper trend line at 1.692 region, but only time will be our guide.
Attached Image (click to enlarge)
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  • #184,070
  • Nov 19, 2009 3:04pm Nov 19, 2009 3:04pm
Quoting allserene
gone long

as long as.... you know...

working on 15m and looking and the rounded dished bottom (perhaps)

got out of short at b/e phew it never happened all this sub 1.6620 stuff will have to wait

perhaps some more time to buy BP shares
Right @ resistance....200EMA 5m.
&
Double tap @ the top 15m resistance...

Took a quick short, favor the day, running it tight like a tiger...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,071
  • Nov 19, 2009 3:10pm Nov 19, 2009 3:10pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Are you watching 'confessions of a traffic warden' on Channel 4 now. Might give you an understanding of 'why' immigrants come to the UK.

There's a guy who speaks 4 languages, has read all the works of Shakespeare, and has just arrived in England from Asia - not to come on welfare - but to work. He says he's come here because he says 'the English value human beings'.



[quote=skerdi-meta;3246655]
Quoting malcolmb14
reality check

...and poland they all left and move to UK for free welfare
quote]
they did that 5 yrs ago,,

I don't understand why do all/most of the immigrants from east europe, asia and africa that migrating 2 west eu, try 2 reach brittain? Even the welfare in brittain is not half of those social-central eu countries.
  • #184,072
  • Nov 19, 2009 3:14pm Nov 19, 2009 3:14pm
Quoting Magix
Right @ resistance....200EMA 5m.
&
Double tap @ the top 15m resistance...

Took a quick short, favor the day, running it tight like a tiger...

6620 holding well so far
Blogging daily now at www.volume.zone
  • #184,073
  • Nov 19, 2009 3:16pm Nov 19, 2009 3:16pm
We don't know how lucky we are and it's only by random chance we are born in the UK, we coulda been born in some hell hole just as easily, so denying others the chance of what we've got is kinda nasty when most of us don't deserve what we've got or appreciate it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #184,074
  • Nov 19, 2009 3:18pm Nov 19, 2009 3:18pm
Quoting malcolmb14
6620 holding well so far
Scalp

Not hoping for a lot, possible range to 1.6637.

This was a stupid play...that'll teach me for trading while all hung over n stuff...

Out +1...not going to sit counter trend with no volume...

Will see where we @ later!

Good luck All!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,075
  • Nov 19, 2009 3:22pm Nov 19, 2009 3:22pm
so as i allways hit my targets here we have the up trend on the gbpusd he will goes up again......be carefull and good luck
  • #184,076
  • Nov 19, 2009 3:27pm Nov 19, 2009 3:27pm
this is forming text book 5 wave ew

wave 4 ends in 1.1.6700 to 1.6730

target to downside based on 1-2-3 sell off that level = 1.6500

I know magik ...to many pretty colours for you

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: chart04a.gif Size: 29 KB
Blogging daily now at www.volume.zone
  • #184,077
  • Nov 19, 2009 3:33pm Nov 19, 2009 3:33pm
Quoting malcolmb14
I trade ES (s&p) we are on very critical level here.

If this 1087 area break to downside then gj and gu will most liekly follow

This is not oging to happen today on the ES ... although i did just sell the last rally.

1.6620 holding still on gu , that is very critical on daily charts

Attachment
Like the way you use critical levels in stocks to determine movement in gbp/usd....I use the same concept in trading GU and also when trading the 10yr Bund as stocks (ES, Eurostoxx, dax) and bonds usually follow a 80/90% inverse correllation most the time. Keep up the good work!
  • #184,078
  • Nov 19, 2009 3:38pm Nov 19, 2009 3:38pm
Quoting allserene
gone long

as long as.... you know...

working on 15m and looking and the rounded dished bottom (perhaps)

got out of short at b/e phew it never happened all this sub 1.6620 stuff will have to wait

perhaps some more time to buy BP shares

On 15min, looks like inverse head and shoulders.
  • #184,079
  • Nov 19, 2009 3:38pm Nov 19, 2009 3:38pm
Quoting malcolmb14
this is forming text book 5 wave ew

wave 4 ends in 1.1.6700 to 1.6730

target to downside based on 1-2-3 sell off that level = 1.6500

I know magik ...to many pretty colours for you
Actually it's kinda pretty mal, a little busy but your getting there.

I would love to buy @ 1.65, would make for an excellent long week next week, but if the trend continues, I would be looking @ 1.6585ish as the buy zone, but we gotta get there first.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,080
  • Nov 19, 2009 3:40pm Nov 19, 2009 3:40pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Absolutely, no one had a choice before they came to mother earth of where they would be born, or what their ethnic origin would be, so tolerance is the least we owe to those less fortunate than us who weren't born here, or aren't 'true Brits' as they say...

Quoting Turveyd
We don't know how lucky we are and it's only by random chance we are born in the UK, we coulda been born in some hell hole just as easily, so denying others the chance of what we've got is kinda nasty when most of us don't deserve what we've got or appreciate it.
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