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Cable Update (GBPUSD)

  • #198,241
  • Feb 5, 2010 2:29am Feb 5, 2010 2:29am
Quoting Artcritique
I just took a long position, not huge, but good. I'm quite happy with the prospects of this. Given the manipulatd volatility, I had to give it lots of slack. But, I'm pretty sure that the RRR is on my side with this one.
Ok. Not much support till 1.5375
  • #198,242
  • Feb 5, 2010 2:30am Feb 5, 2010 2:30am
Quoting Ctic
Daily support.. 1.5662 and 1.5620 by my chart.
Other than S2, of course.
The trend is not your friend, it's your master.
  • #198,243
  • Feb 5, 2010 2:31am Feb 5, 2010 2:31am
Quoting wormboy
I don't think so, but I've just been proven wrong. So atm, your guess is as good as mine till after the nfp dust settles
Wormie,

Just a thought here. I subscribe to a service that give me current reports etc. Here is the one for NFP. If accurate it should blast back up like a rocket. They have a long report that backs up that -40K number but it is too long to post here. We shall see.

Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior

Feb 5 8:30 AM Nonfarm Payrolls Jan - -40K 15K -85K
  • #198,244
  • Feb 5, 2010 2:33am Feb 5, 2010 2:33am
Quoting Clouds
Ok. Not much support till 1.5375
Have you ever seen the market give an 'obvious' reward. Take that stupid whip last night..LOL. It caught me right in the butt.
Ah Luv the smell of a good prediction in the mornin!
  • #198,245
  • Feb 5, 2010 2:37am Feb 5, 2010 2:37am
Quoting Artcritique
Have you ever seen the market give an 'obvious' reward. Take that stupid whip last night..LOL. It caught me right in the butt.
yea, if u trade where it's obviously going, instead of trying to pick a bottom. Good luck though.
  • #198,246
  • Feb 5, 2010 2:39am Feb 5, 2010 2:39am
Quoting Ctic
Wormie,

Just a thought here. I subscribe to a service that give me current reports etc. Here is the one for NFP. If accurate it should blast back up like a rocket. They have a long report that backs up that -40K number but it is too long to post here. We shall see.

Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior

Feb 5 8:30 AM Nonfarm Payrolls Jan - -40K 15K -85K

if it will happen is cable will go up again???
  • #198,247
  • Feb 5, 2010 2:40am Feb 5, 2010 2:40am
Quoting smokey22
Come on you guys..

The GBP/USD has been in a sell mode for the last 3 days
Why have you not been cleaning up pips? 300 pips in last 3 days
All I read is I am going long... why?
Trade with the trend on the 4 hr chart and make pips
Stop trying to trade against the trend.

Cheers

Smokey22
I did clear up but never post trades as too many people here like to argue the point and not trade it........
  • #198,248
  • Feb 5, 2010 2:40am Feb 5, 2010 2:40am
Quoting Clouds
yea, if u trade where it's obviously going, instead of trying to pick a bottom. Good luck though.
I spend most of my time confused, and the rest of it paying my brokers..
Ah Luv the smell of a good prediction in the mornin!
  • #198,249
  • Feb 5, 2010 2:43am Feb 5, 2010 2:43am
Quoting egymedo
if it will happen is cable will go up again???
Well, I am not sure and I don't like to speculate with news, but with the NFP Actual > Forecast = Good for currency; thus what I posted would be less than forcast, thus would be bad for currency.

Please though I do warn, do not trade off this info alone since I don't know how accurate it is and if this would even matter..

C.
  • #198,250
  • Feb 5, 2010 2:46am Feb 5, 2010 2:46am
Quoting omiunu
long at 1.5660
SL moved to BE . Me capital is safe again
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #198,251
  • Feb 5, 2010 2:48am Feb 5, 2010 2:48am
Quoting Ctic
Well, I am not sure and I don't like to speculate with news, but with the NFP Actual > Forecast = Good for currency; thus what I posted would be less than forcast, thus would be bad for currency.

Please though I do warn, do not trade off this info alone since I don't know how accurate it is and if this would even matter..

C.

i know i know dont worry no one will take it as advise
  • #198,252
  • Feb 5, 2010 2:53am Feb 5, 2010 2:53am
Quoting smokey22
Come on you guys..

The GBP/USD has been in a sell mode for the last 3 days
Why have you not been cleaning up pips? 300 pips in last 3 days
All I read is I am going long... why?
Trade with the trend on the 4 hr chart and make pips
Stop trying to trade against the trend.

Cheers

Smokey22
Trust me you've not read all of it. And it's not been in "sell mode" for 3 days, it's been 5.

Cable positions took:
1. http://www.forexfactory.com/showpost...postcount=4538
2. http://www.forexfactory.com/showpost...postcount=4542

Some of us here can afford to lose some after the massive gains. No harm trying to long at a major support level. Trading with the trend is not the only way to trade, it's just a safer way to trade.
Go on and open a fresh short position above support when the H4 level still stands and see what happens.
Thank You
  • #198,253
  • Feb 5, 2010 2:54am Feb 5, 2010 2:54am
1.57 should now be resistance, and news in 30 should push it down further.
then kaboom!

My plan anyway

SL 1.571
  • #198,254
  • Feb 5, 2010 2:59am Feb 5, 2010 2:59am
Don't let it get to you Wormie...

I know I'm good, I know your good, You know your good. I was right with you on the long after shorting all week. Go play with your son and have some fun...

Quoting wormboy
Trust me you've not read all of it. And it's not been in "sell mode" for 3 days, it's been 5.

Cable positions took:
1. http://www.forexfactory.com/showpost...postcount=4538
2. http://www.forexfactory.com/showpost...postcount=4542

Some of us here can afford to lose some after the massive gains. No harm trying to long at a major support level. Trading with the trend is not the only way to trade, it's just a safer way to trade.
Go on and open a fresh short position above support when the H4 level...
  • #198,255
  • Feb 5, 2010 3:01am Feb 5, 2010 3:01am
Quoting Clouds
1.57 should now be resistance, and news in 30 should push it down further.
then kaboom!

My plan anyway

SL 1.571
Here is the test to your plan now. If it holds your golden. If not, well... you followed a good plan

Ride the winners, cut the losers short..
  • #198,256
  • Feb 5, 2010 3:01am Feb 5, 2010 3:01am
Quoting Clouds
1.57 should now be resistance, and news in 30 should push it down further.
then kaboom!

My plan anyway

SL 1.571
hmmm, sounds like a plan
  • #198,257
  • Feb 5, 2010 3:03am Feb 5, 2010 3:03am
Quoting smokey22
Come on you guys..

The GBP/USD has been in a sell mode for the last 3 days
Why have you not been cleaning up pips? 300 pips in last 3 days
All I read is I am going long... why?
Trade with the trend on the 4 hr chart and make pips
Stop trying to trade against the trend.

Cheers

Smokey22
OK Smokey22,

How does one trade the 4Hr chart and make consistent PIPs with proper money management? Do tell.
It's Easy To Get In;.. It's Hard To Get Out
  • #198,258
  • Feb 5, 2010 3:05am Feb 5, 2010 3:05am
Quoting Ctic
Don't let it get to you Wormie...

I know I'm good, I know your good, You know your good. I was right with you on the long after shorting all week. Go play with your son and have some fun...
No worries C,

I felt that he wanted justification for the long positions some of us took, thought I'd walk him down memory lane last week when the "trend" was up and most were building longs when we already began to short.
Yup, i'm off to play with worm junior now
Be back at nfp, trade well my friend. Good luck
Thank You
  • #198,259
  • Feb 5, 2010 3:05am Feb 5, 2010 3:05am
Quoting wormboy
Trust me you've not read all of it. And it's not been in "sell mode" for 3 days, it's been 5.

Cable positions took:
1. http://www.forexfactory.com/showpost...postcount=4538
2. http://www.forexfactory.com/showpost...postcount=4542

Some of us here can afford to lose some after the massive gains. No harm trying to long at a major support level. Trading with the trend is not the only way to trade, it's just a safer way to trade.
Go on and open a fresh short position above support when the H4 level still...

It's been in a 7 day down trend with a 3 day sideways movement in the middle then continued with its down trend.. but who is right or wrong as long
as you go with the trend and smile

Smokey22
  • #198,260
  • Feb 5, 2010 3:06am Feb 5, 2010 3:06am
Quoting John D
OK Smokey22,

How does one trade the 4Hr chart and make consistent PIPs with proper money management? Do tell.
Trade in the direction it is going for the candle.
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