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Cable Update (GBPUSD)

  • #203,821
  • Mar 5, 2010 11:48am Mar 5, 2010 11:48am
not saying a short from there was right or wrong lol, I took one at 1.5140 just above yesterdays high , I have exited at 1.5111, was a scalp trade for me not a long term hold thats for sure holding some longs near todays low will close for the week end and worry about which way next week
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.jpg Size: 163 KB
  • #203,822
  • Mar 5, 2010 11:52am Mar 5, 2010 11:52am
Quoting ams
Poor guy, you put him in too much trouble with this question

If we break 51350 again(already touched now retracing), we will be going higher. Around 53500 next.

please don't mind my words but why are you going short?

Me, wormie, magix, BT and I think most of us are long. We are no trading pundits as we play what the chart, price behaviour tell us but with such a high degree of movement and no news in sight I do not see your reason to go short yet.

Best is to put a 10-15 SL @ pip 51450 and see if you "get lucky this time".

ta
ams
How do you know that the price would go up?

I thought the price would move within 30 minutes to 1 hour after the news release. Then since the price just stay calm after that I thought that it will stay calm after market closes.
  • #203,823
  • Mar 5, 2010 11:56am Mar 5, 2010 11:56am
some news


CABLE

Trader reporting that a hefty cable buy order.

1 of 1
CABLE: Trader reporting that a hefty cable buy order ran through the

market around or just after the London fixing event but no suggestion

who was behind the buying at this point. Pair pushed up through noted

tech resistance at $1.5130/35 area for highs around $1.5150 thus far.
3/5/2010 11:30:55 AM

CABLE

In retreat quickly after stalling at $1.5150..

1 of 1
CABLE: In retreat quickly after stalling at $1.5150 area that some eye

as tech resistance the retreat of note given talk emerging of stops

atop $1.5160. Traders eye the tech resistance as key failure to break

keeping negative sentiment alive in the pair amid expectations of more

poor weekend press for the UK on the political front.
3/5/2010 11:58:27 AM
  • #203,824
  • Mar 5, 2010 11:56am Mar 5, 2010 11:56am
Quoting Magix
Sheesh man, you were all full of fire and wisdom yesterday...

Maybe it's time you sit back and learn a little about markets. The time you spend will save you a lot of money.

I fear the worst for you right now friend. IMO, you could be rapidly walking into being on the wrong side of the market statistics.
Well Magix,

I can see i was glad i made the decision to... "Go to Bed",
@04:00 Dk Hr's & not wait up for GBP "PPi", & etc... after being
out all night working night(s) this week w/'Wireless Carrier.
-Just too exhausted. Apparently, a good move for the body,
and the account.

Though it's popped North, it still looks dead & killed.
Fresh eyes & interest next week looks best!
Have a Great Wk'd,

Jeff !
I will work to Objectively Identify my Edges
  • #203,825
  • Mar 5, 2010 11:56am Mar 5, 2010 11:56am
Quoting digger1
not saying a short from there was right or wrong lol, I took one at 1.5140 just above yesterdays high , I have exited at 1.5111, was a scalp trade for me not a long term hold thats for sure holding some longs near todays low will close for the week end and worry about which way next week Attachment
sorry traders a little bigger view with this chart
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.jpg Size: 144 KB
  • #203,826
  • Mar 5, 2010 11:59am Mar 5, 2010 11:59am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Close and open are indeed a very good place to scalp for 10-20 pipees. Sometimes one can get lucky and get more like today, but long term trades where expectation is higher, is a different story.


Quoting digger1
not saying a short from there was right or wrong lol, I took one at 1.5140 just above yesterdays high , I have exited at 1.5111, was a scalp trade for me not a long term hold thats for sure holding some longs near todays low will close for the week end and worry about which way next week Attachment
  • #203,827
  • Mar 5, 2010 11:59am Mar 5, 2010 11:59am
Quoting digger1
not saying a short from there was right or wrong lol, I took one at 1.5140 just above yesterdays high , I have exited at 1.5111, was a scalp trade for me not a long term hold thats for sure holding some longs near todays low will close for the week end and worry about which way next week Attachment

u did great bro
  • #203,828
  • Mar 5, 2010 12:06pm Mar 5, 2010 12:06pm
Quoting iCarumba
How do you know that the price would go up?

I thought the price would move within 30 minutes to 1 hour after the news release. Then since the price just stay calm after that I thought that it will stay calm after market closes.
dx was rejected heavily at a significant level.

Chart :
1. http://www.forexfactory.com/showpost...postcount=5238

Careful if shorting, cable could still edge higher before ny close.
Good luck.
Thank You
  • #203,829
  • Mar 5, 2010 12:06pm Mar 5, 2010 12:06pm
Quoting kill56
u did great bro
thanks kill, figured the bear was in the bathroom again on the longs after tha nfp annc, the short was just to get the wife some shoping money so she is not bugging me when I try and make sense of the longer charts this week-end
  • #203,830
  • Mar 5, 2010 12:15pm Mar 5, 2010 12:15pm
Beautiful,

Simply beautiful...
My sentiments exactly, great chart / trade earlier there digger!

My only reason i was gonna trade was about the same,
for the end of this week, going away on the wk'd w/the mrs!
But why get caught up in it either way- this time in the day,
on 'Friday.
Have a Great one,

Jeff !
I will work to Objectively Identify my Edges
  • #203,831
  • Mar 5, 2010 12:17pm Mar 5, 2010 12:17pm
Quoting TerpFan2
Beautiful,

Simply beautiful...
My sentiments exactly, great chart / trade earlier there digger!

My only reason i was gonna trade was about the same,
for the end of this week, going away on the wk'd w/the mrs!
But why get caught up in it either way- this time in the day,
on 'Friday.
Have a Great one,

Jeff !
hey enjoy the week end also man
  • #203,832
  • Mar 5, 2010 12:17pm Mar 5, 2010 12:17pm
Trading NFP is bad idea...,loss 30 pips..,
still have 1 short @5143, SL=entry , i think it will be hit also... bad week....
I will be the number one Manager.
  • #203,833
  • Mar 5, 2010 12:18pm Mar 5, 2010 12:18pm
It is nice waking up to many green pips after having a very long sleep and not having a worry in the world about NFP...
  • #203,834
  • Mar 5, 2010 12:19pm Mar 5, 2010 12:19pm
Quoting Ctic
It is nice waking up to many green pips after having a very long sleep and not having a worry in the world about NFP...
well done ctic ha ha
  • #203,835
  • Mar 5, 2010 12:20pm Mar 5, 2010 12:20pm
but why EU and GU BUY? not SELL? can any body explain this?
  • #203,836
  • Mar 5, 2010 12:24pm Mar 5, 2010 12:24pm
Quoting javapips
Trading NFP is bad idea...,loss 30 pips..,
still have 1 short @5143, SL=entry , i think it will be hit also... bad week....
hope not for u sake sorry about the loss
  • #203,837
  • Mar 5, 2010 12:26pm Mar 5, 2010 12:26pm
Quoting Ctic
It is nice waking up to many green pips after having a very long sleep and not having a worry in the world about NFP...

enjoy bro well done
  • #203,838
  • Mar 5, 2010 12:36pm Mar 5, 2010 12:36pm
Quoting ams
Close and open are indeed a very good place to scalp for 10-20 pipees. Sometimes one can get lucky and get more like today, but long term trades where expectation is higher, is a different story.
yes previous days high and low always an area to watch for quick trades , weekly highs and lows , the same sure you and most traders know the longer the the time frame the more significant. The daily open and close price or the weekly open close is really something you dont see mentioned much unless there is a gap in a weekly open , I have found them to be quite significant levels, at the very least well worth keeping track of a sort of proverbial line in the sand between buyers and sellers and as with any thing the longer the time frame the more signifigant
  • #203,839
  • Mar 5, 2010 12:50pm Mar 5, 2010 12:50pm
Quoting ams
Poor guy, you put him in too much trouble with this question

If we break 51350 again(already touched now retracing), we will be going higher. Around 53500 next.

please don't mind my words but why are you going short?

Me, wormie, magix, BT and I think most of us are long. We are no trading pundits as we play what the chart, price behaviour tell us but with such a high degree of movement and no news in sight I do not see your reason to go short yet.

Best is to put a 10-15 SL @ pip 51450 and see if you "get lucky this time".

ta
ams
Um yes...Don't forget CTIC... AMS. I was the first one in this forum preaching long on Monday.
  • #203,840
  • Mar 5, 2010 12:51pm Mar 5, 2010 12:51pm
Quoting javapips
Trading NFP is bad idea...,loss 30 pips..,
still have 1 short @5143, SL=entry , i think it will be hit also... bad week....
With the right MM, that wasn't catastrophic. Don't ever allow ur weekend to be spoilt because u will bounce back big next week
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