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Cable Update (GBPUSD)

  • #189,821
  • Dec 29, 2009 10:45am Dec 29, 2009 10:45am
Quoting yinbyungheon
1.57xx is the TP that im gona take...maybe from there i.ll start buying...
boom boom pow!!!
  • #189,822
  • Dec 29, 2009 10:45am Dec 29, 2009 10:45am
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
I've just been watching from the sidelines like last week, in preparation for the New Year, but left a pending sell order at 1.6070 this morning that didn't get filled unfortunately.

Now, a word of advice to you all for the New Year.

There's 5 great traders I know, in no particular order, i.e. Wormboy, MalcomB, GlobalMacro, Bull_Bear, and Direct Trade.

When they're all in agreement on the direction of travel of cable, it's almost a given we're going that way; when they're not agreed, then do your own homework and 'PLEASE DON'T GLOAT IF YOU GET IT RIGHT AND THEY GET IT WRONG' because no trader, however good they are, can be right 100% of the time and by rubbing the experts' noses in it when they get things wrong can really be a good means of stopping them from sharing their analysis with us.

Please remain humble when you're right and they're wrong, because every single one of us gets it wrong sometimes.

i
  • #189,823
  • Dec 29, 2009 10:45am Dec 29, 2009 10:45am
Quoting Magix
Exactly 200 pips from top to bottom....

Interesting....
do u think we will see more bro like 15750
  • #189,824
  • Dec 29, 2009 10:45am Dec 29, 2009 10:45am
Is retrace is going on right now since there are higher lows on 5M TF ?
  • #189,825
  • Dec 29, 2009 10:48am Dec 29, 2009 10:48am
Quoting egkid
All is good bro,
Stick to my plan and waiting the price to come to me

Depends on my system now we are equal power 1.5880 =1.6876 but trend on daily down
yup. with you now brother, just watching
Thank You
  • #189,826
  • Dec 29, 2009 10:48am Dec 29, 2009 10:48am
Quoting wormboy
wsalam. doing good kill. hope you're enjoying yourself

walla ya bro i am i hope u will have agreat year full of green pips and drinks still on me
  • #189,827
  • Dec 29, 2009 10:51am Dec 29, 2009 10:51am
Quoting ukdaytrader
Congratulations to all those long scalps which have paid off.

BUT, it's a bit too early for all round back-slapping. Volumes are very low which means one thing; big boys are relaxing. Taking a longer term long view on GU now is risky IMO.

Day by day, grab some pips and get out.

Just added a second small short position and will hold..
Posted this morning.


If you think i'm gloating, just wait 'til Malc gets here.
  • #189,828
  • Dec 29, 2009 10:52am Dec 29, 2009 10:52am
Quoting kill56
walla ya bro i am i hope u will have a great year full of green pips and drinks still on me
How you doing bro?
Am i invited
  • #189,829
  • Dec 29, 2009 10:54am Dec 29, 2009 10:54am
room wish u all love joy and sexy pips this year and next year

south is the only way for the b;;;;;;;;;;;;;;;;h cable sell any move up for me
  • #189,830
  • Dec 29, 2009 10:55am Dec 29, 2009 10:55am
Quoting fendi
Anyone who dares this trend would cry

yes this is me crying...
The Sky is the Limit!
  • #189,831
  • Dec 29, 2009 10:57am Dec 29, 2009 10:57am
Quoting egkid
How you doing bro?
Am i invited
hell ya bro with out u no party great bro what about u
  • #189,832
  • Dec 29, 2009 10:59am Dec 29, 2009 10:59am
Quoting ukdaytrader
Posted this morning.


If you think i'm gloating, just wait 'til Malc gets here.
lol ... I have been watching them all going long ...I was thinking nothing like swimming up stream ...

i did also try and warn the buyers to look at 4 hour charts form London session.

Lesson for newbie .... when something drops 700 pip and takes 4 days to retrace 100 you have to stop and think ,,,, wow there really is no buying pressure.

Bear market retraces with buying pressure / profit taking are hard and fast , if gu had real buying pressure the retrace over xmas would have matched eu , at least 200 pip
Blogging daily now at www.volume.zone
  • #189,833
  • Dec 29, 2009 11:00am Dec 29, 2009 11:00am
Quoting kill56
do u think we will see more bro like 15750
Honestly mango, if I would have thought there would be any day before the New Year that would see a day of 200 pip movement, I would have opened up my platform and traded it.

I am simply shocked.

It has made for an interesting play, resistance on the hourly 200EMA...when I would have thought that we would range trade to see the 24SMA on the daily as resistance, whether it come down to meet price or price come up to meet resistance....

As opportunities go...and if I were looking for position...I would wait to see where we sit before London open, I would think that even if we have seen bottom as of current, there will be a buy back up to the 1.5950 area with another attack at the bottom of the chart through London trading and perhaps create a little deeper hole.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,834
  • Dec 29, 2009 11:02am Dec 29, 2009 11:02am
Quoting ahlamo
yes this is me crying...
dont tell me u are long in this mess
  • #189,835
  • Dec 29, 2009 11:04am Dec 29, 2009 11:04am
Please Please Please , Read this again.

http://www.forexfactory.com/showthre...04#post3327004

I'm right for the first time since I started this career.
  • #189,836
  • Dec 29, 2009 11:06am Dec 29, 2009 11:06am
Quoting Magix
Honestly mango, if I would have thought there would be any day before the New Year that would see a day of 200 pip movement, I would have opened up my platform and traded it.

I am simply shocked.

It has made for an interesting play, resistance on the hourly 200EMA...when I would have thought that we would range trade to see the 24SMA on the daily as resistance, whether it come down to meet price or price come up to meet resistance....

As opportunities go...and if I were looking for position...I would wait to see where we sit before London...
bro i think we are dealing with the big end of the year hunters look afew years back and u ll see what happend the same shit every year
  • #189,837
  • Dec 29, 2009 11:06am Dec 29, 2009 11:06am
Quoting kill56
dont tell me u are long in this mess
even i struggle time to time with mm

newer traders ( less than 3 years ) I bet still struggle with it. i wonder how many took longs at 1.6020 , did not take profit 6060 , and had stops 1.5920 and are now having 2 - 3 % loss on account


this is why I have been wittering on about trading with the prevailing trend for a week now.

also low volume xmas 2 weeks is NOT the time that a 900 pip drop in eu and 700 pip drop in gu is going to be reversed .. seriously....

Trading is not only about stratergy but also about simple logic....
Blogging daily now at www.volume.zone
  • #189,838
  • Dec 29, 2009 11:06am Dec 29, 2009 11:06am
Quoting Baby-Trader
Please Please Please , Read this again.

http://www.forexfactory.com/showthre...04#post3327004

I'm right for the first time since I started this career.
Baby-Trader, You are the Man with the Plan
  • #189,839
  • Dec 29, 2009 11:07am Dec 29, 2009 11:07am
Quoting malcolmb14
lol ... I have been watching them all going long ...I was thinking nothing like swimming up stream ...

i did also try and warn the buyers to look at 4 hour charts form London session.

Lesson for newbie .... when something drops 700 pip and takes 4 days to retrace 100 you have to stop and think ,,,, wow there really is no buying pressure.

Bear market retraces with buying pressure / profit taking are hard and fast , if gu had real buying pressure the retrace over xmas would have matched eu , at least 200 pip
Malcomb, do you think it will retrace to 1.5920 area ? Or do you see current bottom is the bottom until new year ?

I have a situation with a newbie mistake in locking trades.

Thank you for your input.
  • #189,840
  • Dec 29, 2009 11:08am Dec 29, 2009 11:08am
Quoting kill56
dont tell me u are long in this mess
well let's see, I woke up around 3:30 EST this morning, was long obviously and had all my positions in the green , so instead of closing out and being happy ( possibly going short) I say to myself " well, let's see if this reaches 1.61". Yeah of course! Stupid me, I don't know what the heck is wrong with me sometimes. So in summary, yes I was long and had to watch it all go down to nothing...with tears to my eyes. If i could slap myself I would!!!

Anyway as Chris once said, i am just going to lick my wounds now and take the time to read "trading in the zone" or do something to stop acting stupidly and getting greedy.

Thanks for asking though
The Sky is the Limit!
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