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Cable Update (GBPUSD)

  • #189,541
  • Dec 27, 2009 10:52pm Dec 27, 2009 10:52pm
I am a day trader and this is not my dream market ....a tight 30 pip range, and then you have to allow margin of error of both side of range so you get 20 at best in 4 hours.... what is the point ? i will trade once Jan 5th comes.

Quoting Ctic
Without reading the whole history of this discussion, so true, why trade. However, this is a scalpers dream market, because short of something major happening in the world, no major supports or resistances will be broken here. Play the way down up and the way up down.
Blogging daily now at www.volume.zone
  • #189,542
  • Dec 27, 2009 10:57pm Dec 27, 2009 10:57pm
Quoting malcolmb14
I am a day trader and this is not my dream market ....a tight 30 pip range, and then you have to allow margin of error of both side of range so you get 20 at best in 4 hours.... what is the point ? i will trade once Jan 5th comes.
Malc,

I am with you. I am a day trader as well. I have been trading for 5 years now. And your right, it is a very small channel but if I can make 20 up, 20 down etc, at the end of the week it wasn't too bad of a week. I placed a couple buy orders on Thursday before the market closed and made 36 pips between the two trades. When the market opened I closed those and placed a sell and banked 25 pips on that one. I have a buy in currently and am up 16.7 pips atm.

Is this my ideal market? no not by any means, but I am addicted and it is easy money.
  • #189,543
  • Dec 27, 2009 11:04pm Dec 27, 2009 11:04pm
Yep we stuck in the same channel moving up and down 30 - 20 pips but every move top is smaller.
  • #189,544
  • Dec 28, 2009 1:03am Dec 28, 2009 1:03am


is London open today?
Patience + Discipline =
  • #189,545
  • Dec 28, 2009 1:08am Dec 28, 2009 1:08am
Quoting Jemmy


is London open today?
No its not. Boxing day holiday.
  • #189,546
  • Dec 28, 2009 2:07am Dec 28, 2009 2:07am
My broker (fxopen) just changed their spread on gbp/usd from 3 pips to 9 pips!!!! Be careful out there folks, these brokers are at it again
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #189,547
  • Dec 28, 2009 2:10am Dec 28, 2009 2:10am
they also readjusted leverage to make sure you can get it on trades. these guys are evil
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #189,548
  • Dec 28, 2009 2:21am Dec 28, 2009 2:21am
Quoting omiunu
they also readjusted leverage to make sure you can get it on trades. these guys are evil
this is how it works. regularly market shouldnt move in any way. the movements you see are just designed to lure moths to the light and grab some margin.
there is nobody trading the markets, except brokers who move it up and down without violating important levels, automatic trading algos to make it look like something is happening and cleaningwomen, who got control over the prop desks of goldman sucks during the holidays.

nevertheless, due to excessive liquidity, i can officially announce that the s&p 500 just made a new high with 1125- in the globex session, which in the regular markets is pretty thinly traded, but these days......hell, those guys are crooks, just push the crap some more to add another 2% to the portfolio.
  • #189,549
  • Dec 28, 2009 2:25am Dec 28, 2009 2:25am
Quoting omiunu
My broker (fxopen) just changed their spread on gbp/usd from 3 pips to 9 pips!!!! Be careful out there folks, these brokers are at it again
2pips here. My view still bullish and waiting for the plan to be triggered with first target 1.6110 and after that 1.623, 1.635.
"Hate the sin, love the sinner." - Gandhi
  • #189,550
  • Edited 2:59am Dec 28, 2009 2:38am | Edited 2:59am
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Just no comments guys p.s doji
  • #189,551
  • Dec 28, 2009 3:27am Dec 28, 2009 3:27am
Breakout on gbp/usd 1.5985 moving to long ?
  • #189,552
  • Dec 28, 2009 3:28am Dec 28, 2009 3:28am
GBP/USD:
BUY H1 1.5983 with goal – T/P 1.6029 S/L 1.5940
SELL H1 1.5927 with goal – T/P 1.5872 è S/L 1.5960
  • #189,553
  • Dec 28, 2009 3:31am Dec 28, 2009 3:31am
Quoting Privet
GBP/USD:
BUY H1 1.5983 with goal – T/P 1.6029 S/L 1.5940
SELL H1 1.5927 with goal – T/P 1.5872 è S/L 1.5960
Your sl is bigger than tp, be careful.

PS @sellers: wasn't that super bearish after all? never marry your trades, marry the trend. Looks like the chart i posted days ago is still in play, AUD still rising and GU preparing.
"Hate the sin, love the sinner." - Gandhi
  • #189,554
  • Dec 28, 2009 3:38am Dec 28, 2009 3:38am
Yes finally i added my pic
  • #189,555
  • Dec 28, 2009 3:40am Dec 28, 2009 3:40am
Quoting TheGabriel
Your sl is bigger than tp, be careful.

PS: wasn't that super bearish after all? never marry your trades, marry the trend.
Gabriel you looking for longs too ?
  • #189,556
  • Dec 28, 2009 3:43am Dec 28, 2009 3:43am
Quoting dil
Gabriel you looking for longs too ?
It's 1 week or more I'm looking for longs, GM aswell as far as I recall.
"Hate the sin, love the sinner." - Gandhi
  • #189,557
  • Dec 28, 2009 3:44am Dec 28, 2009 3:44am
Please , someone give me support and resistance zones
  • #189,558
  • Dec 28, 2009 3:46am Dec 28, 2009 3:46am
Already gave my view when it was still "bearish" on 4h
Post, support of course is 1.5919
I will split my TP's, but I think there are some changes to open the last order wich will go to 1.635
"Hate the sin, love the sinner." - Gandhi
  • #189,559
  • Dec 28, 2009 3:49am Dec 28, 2009 3:49am
short @1.59850 SL 1.6050 TP 1.5940
  • #189,560
  • Dec 28, 2009 3:55am Dec 28, 2009 3:55am
short@ 1.5991 TP 1.5931/41 SL 1.6110
Hope i make 50-60 pips
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