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Cable Update (GBPUSD)

  • #192,001
  • Jan 11, 2010 3:22am Jan 11, 2010 3:22am
Quoting WedWed
Again.. 6149-6151 level to sculap ( and might be to swing too )

.. and 6224 strong level to swing Short.
Me at 1.6145, imho says will reversed down pass DP Today 1.6078 at US session or earlier !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,002
  • Jan 11, 2010 3:52am Jan 11, 2010 3:52am
I am new to this forum and for the past couple of days was just reading all the post to get a feel for the members. There is a lot of wisdom in here. The only thing that scares me is that I see a lot of people trading based off of emotion. Right now the market is in an upswing, dont try and take shorts unless it shows confirmation of a downswing. If we continue to put in trades because we "feel" the market has been in a direction too long, we will slowly eat up our profit, and then our accounts. Wishing everyone luck and trade wisely!!
  • #192,003
  • Jan 11, 2010 4:04am Jan 11, 2010 4:04am
Quoting Bull_Bear
Later guys.... Stay long 1.6150/1.6200.

Enjoy
Well Well, funny how things turn out....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #192,004
  • Jan 11, 2010 4:07am Jan 11, 2010 4:07am
Shorted @ 1.6150...05dec high
Stop around 1.6205
I'm targeting 1.6050 then 1.5960
Now let's see
COT: The precious data ignored
  • #192,005
  • Jan 11, 2010 4:19am Jan 11, 2010 4:19am
Quoting Purpose10
I am new to this forum and for the past couple of days was just reading all the post to get a feel for the members. There is a lot of wisdom in here. The only thing that scares me is that I see a lot of people trading based off of emotion. Right now the market is in an upswing, dont try and take shorts unless it shows confirmation of a downswing. If we continue to put in trades because we "feel" the market has been in a direction too long, we will slowly eat up our profit, and then our accounts. Wishing everyone luck and trade wisely!!

wise words indeed. trading on emotions is like doubling down on 20 at a blackjack table in Belagio (Sin City). Don't make that mistake if you "feel" then sideline yourself and your emotions!
  • #192,006
  • Jan 11, 2010 4:28am Jan 11, 2010 4:28am
Quoting kuroro001
Shorted @ 1.6150...05dec high
Stop around 1.6205
I'm targeting 1.6050 then 1.5960
Now let's see
i would have waited for a move down first... maybe some kind of a consolidation with lower highs and lower lows...

expect cable to go for at least 200 more pips...
  • #192,007
  • Jan 11, 2010 4:34am Jan 11, 2010 4:34am
Quoting Purpose10
I am new to this forum and for the past couple of days was just reading all the post to get a feel for the members. There is a lot of wisdom in here. The only thing that scares me is that I see a lot of people trading based off of emotion. Right now the market is in an upswing, dont try and take shorts unless it shows confirmation of a downswing. If we continue to put in trades because we "feel" the market has been in a direction too long, we will slowly eat up our profit, and then our accounts. Wishing everyone luck and trade wisely!!
Hi purpose and welcome
" When the ship starts to sink, don't just pray. JUMP "
  • #192,008
  • Jan 11, 2010 4:36am Jan 11, 2010 4:36am
Quoting kilalik
wise words indeed. trading on emotions is like doubling down on 20 at a blackjack table in Belagio (Sin City). Don't make that mistake if you "feel" then sideline yourself and your emotions!

poker and trading is like granddad and elvis
  • #192,009
  • Jan 11, 2010 4:38am Jan 11, 2010 4:38am
Quoting Gucc
poker and trading is like granddad and elvis
lol, but i said balckjack.
what is blackjack and trading?

like bush senior and bush w??? maybe
  • #192,010
  • Jan 11, 2010 4:39am Jan 11, 2010 4:39am
Quoting kilalik
wise words indeed. trading on emotions is like doubling down on 20 at a blackjack table in Belagio (Sin City). Don't make that mistake if you "feel" then sideline yourself and your emotions!
yea... trading is more like fantasy football
  • #192,011
  • Jan 11, 2010 4:47am Jan 11, 2010 4:47am
Quoting Purpose10
I am new to this forum and for the past couple of days was just reading all the post to get a feel for the members. There is a lot of wisdom in here. The only thing that scares me is that I see a lot of people trading based off of emotion. Right now the market is in an upswing, dont try and take shorts unless it shows confirmation of a downswing. If we continue to put in trades because we "feel" the market has been in a direction too long, we will slowly eat up our profit, and then our accounts. Wishing everyone luck and trade wisely!!
I very agree with u mate , everyone shorting when price just heading to the north look we at resistance 3 now... but when price is falling everyone is buying..
  • #192,012
  • Jan 11, 2010 4:48am Jan 11, 2010 4:48am
Quoting dil
resistance 2 broken go baby go
Like i said now re 3
  • #192,013
  • Jan 11, 2010 4:54am Jan 11, 2010 4:54am
Quoting forexlion
this is my trade plan on GU., along with EW counts

http://www.forexfactory.com/showpost...&postcount=999
yippeeeeeeeeeeeeeeeeeeee +120 pipsss
  • #192,014
  • Jan 11, 2010 4:56am Jan 11, 2010 4:56am
Sold GBP/USD @ 1.6167 , SL above 1.6210
Don't tell me how much you can earn. Tell me how much you may lose..
  • #192,015
  • Jan 11, 2010 5:06am Jan 11, 2010 5:06am
SOLD Gu at 1.6175 with a S/L @ 1.6400
  • #192,016
  • Jan 11, 2010 5:06am Jan 11, 2010 5:06am
i lost my account....
  • #192,017
  • Jan 11, 2010 5:06am Jan 11, 2010 5:06am
Quoting EliteFX
Sold GBP/USD @ 1.6167 , SL above 1.6210

don`t get it, well I try to short at 6130 with sl 6150, because of S/R and I was wrong.

But could you tell me why you enter this trade? (now I am long with very small position)
  • #192,018
  • Jan 11, 2010 5:10am Jan 11, 2010 5:10am
Quoting imphotep
i lost my account....
That is a real shame . Find out what you do wrong and come back stronger
" When the ship starts to sink, don't just pray. JUMP "
  • #192,019
  • Jan 11, 2010 5:11am Jan 11, 2010 5:11am
Quoting GlobalMacro
Alright.....Cable Aficionados,

The selloff off resistance @ 1.6100 was a response to the O/B conditions following rapid rise post-NFP....

The mini bear trap below 1.6000 might have been a final flush-out attempt at weak longs today....

Price trading back up...
Quoting GlobalMacro
Like I said, the high volume sell-off @ 1.6100 resistance was a response to O/B conditions and nothing more than an intraday quickie!

Those who took profits below 1.6000, good for them...however, those who didn't are in for a rude awakening getting squeezed out good.... which is already in progress.


Why on earth would anyone wanna sell medium-to-long-term into this formation after the price has already fallen 1000 odd pips in the previous months....what's the incentive?...

Well...Here we go...Exactly as I anticipated in my post on friday those shorts who stayed, got squeezed out...

And as I tried to warn Malcolmb who kept saying "volume at 6100 was HIGHEST for dec" based on H1 "expecting 1.5750"....
My friend, that doesn't work for medium-to-long-term trades......the market always does what is right....no amount of volume (which is especially unreliable in forex) will change that....

Like I said on friday "Rude Awakening" would await those who didn't cover their shorts...


I Will Continue To Carry My Long Position Set @ 1.5955
Attached Image
Hear the music before the song is over ...
  • #192,020
  • Jan 11, 2010 5:21am Jan 11, 2010 5:21am
Quoting GlobalMacro
Well...Here we go...Exactly as I anticipated in my post on friday those shorts who stayed, got squeezed out...

And as I tried to warn Malcolmb who kept saying "volume at 6100 was HIGHEST for dec" based on H1 "expecting 1.5750"....
My friend, that doesn't work for medium-to-long-term trades......the market always does what is right....no amount of volume (which is especially unreliable in forex) will change that....

Like I said on friday "Rude Awakening" would await those who didn't cover their shorts...


I Will Continue To Carry...
how long can you have your trade open? I'm with GFT and it's about 3 days then they carry my P/L.
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