Cable Update (GBPUSD) | Page 10259 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #205,161
  • Mar 11, 2010 8:07am Mar 11, 2010 8:07am
Quoting JRoyal
This is where trading in zones becomes important. When we reach a sell zone and I see weakness I enter based on my own set of rules but I try not to wait for a ton of confirmation because you end up late to the party. Not that I don't wait for any confirmation but when weakness shows up you just pull the trigger and use good money management. I sold it as it was going up to be honest with you but I expected it to drop like it is but large money sometimes will run price up just to stop the early sellers out and then push it back down so that's the...
You're posts make for interesting reading. I shall follow up on your earlier posts with your strategies which I am sure will be informative.
  • #205,162
  • Mar 11, 2010 8:08am Mar 11, 2010 8:08am
wormboy joke to short came true...
why i dont follow it....
Revesal Trader
  • #205,163
  • Mar 11, 2010 8:11am Mar 11, 2010 8:11am
Written by Jamie Coleman
March 11, 2010 at 13:51 GMT

"Now that the dollar is getting a lift from the comments from the Duh PM saying that the Greeks should consider going to the IMF, Cable is pulling back sharply. Traders report buy orders at the 1.5000 level. We trade now at 1.5014."
Thank You
  • #205,164
  • Mar 11, 2010 8:12am Mar 11, 2010 8:12am
Quote
but large money sometimes will run price up just to stop the early sellers out and then push it back down so that's the part that is the most uncertain not which way it's going to go.

I have been reading your views and you are a great trader.

I dont think any single person/hedge fund/large bank can move $ 1.2 trillion daily E/U trading volume or $ 500 million daily G/U volume.

When the price goes up in a downtrend, it is a retracement because of short covering.

For example: In current situation (live trading),

Traders who are short in E/U at 1.3680 will like to book profits at 1.3640 and hence we may see some retracement or profits booked leading to price spike.

But then new sellers or same old sellers enter the market at the price spike which happens due to short covering.

My idea is retracement happen due to profit booking.
  • #205,165
  • Mar 11, 2010 8:13am Mar 11, 2010 8:13am
Quoting mygoldenpips
wormboy joke to short came true...
why i dont follow it....
lol sorry
Thank You
  • #205,166
  • Mar 11, 2010 8:14am Mar 11, 2010 8:14am
everybody going short
im in wrong way
  • #205,167
  • Mar 11, 2010 8:14am Mar 11, 2010 8:14am
Quoting bbakker
You're posts make for interesting reading. I shall follow up on your earlier posts with your strategies which I am sure will be informative.
A few pages back I posted a mini forex course that I wrote yesterday. I had some questions that were asked by fellow posters and when I went to answer them it turned into a 6 page mini course. It details the foundation of my strategy. I attached the word doc that has example charts and everything. Give it a look. Maybe you'll find something helpful in it.
  • #205,168
  • Mar 11, 2010 8:16am Mar 11, 2010 8:16am
Quoting thrishelle
everybody going short
im in wrong way
Nope still long and slowly building more longs
  • #205,169
  • Mar 11, 2010 8:16am Mar 11, 2010 8:16am
Quoting thrishelle
everybody going short
im in wrong way
no you're not.
Thank You
  • #205,170
  • Mar 11, 2010 8:17am Mar 11, 2010 8:17am
Not sure about this down move, still holding long .

GL
  • #205,171
  • Mar 11, 2010 8:19am Mar 11, 2010 8:19am
Quoting bbakker
It's heading back down again...
Good day to you,

No need to worry. At this stage, this is only a stophunt for late longs. Bias remains long for now.
Attached Image (click to enlarge)
Click to Enlarge Name: gudaily5.gif Size: 17 KB
  • #205,172
  • Mar 11, 2010 8:19am Mar 11, 2010 8:19am
Patience is the key and follow your trading plan.
  • #205,173
  • Mar 11, 2010 8:22am Mar 11, 2010 8:22am
Quoting thrishelle
everybody going short
im in wrong way

you are not alone....
  • #205,174
  • Mar 11, 2010 8:23am Mar 11, 2010 8:23am
Quoting Pyramus
Nope still long and slowly building more longs
amin...so im in the right way
im newbie try to get fortune
  • #205,175
  • Mar 11, 2010 8:25am Mar 11, 2010 8:25am
Quoting Bebetomuda
you are not alone....
heheheh....thanks my bro http://www.kaskus.us/images/smilies/sumbangan/49.gif
  • #205,176
  • Mar 11, 2010 8:25am Mar 11, 2010 8:25am
Quoting kingfisher
I have been reading your views and you are a great trader.

I dont think any single person/hedge fund/large bank can move $ 1.2 trillion daily E/U trading volume or $ 500 million daily G/U volume.

When the price goes up in a downtrend, it is a retracement because of short covering.

For example:...
Profit taking and what the insiders call "dumb money". Most large traders actually don't counter trend trade. Amateurs which is us and some hedge funds, and large spec traders but banks and conservative funds are notorious trend traders so the moves in the direction of main trend tend to be violent and abrupt because they just wait to jump in. Retraces are a tricky deal but you have to know if current days direction is retrace or main trend. That's the tricky part for most traders not dealing huge money.

Also, it's hard to get a $500,000,000 order executed at a exact price which is why large money normally scales into their positions over time which in most cases is with the trend.

Thanks for the compliments, I'm just here to add to the board best I can.
  • #205,177
  • Mar 11, 2010 8:26am Mar 11, 2010 8:26am
Quoting wormboy
no you're not.
i hope so...thanks my boss http://www.kaskus.us/images/smilies/sumbangan/49.gif
  • #205,178
  • Mar 11, 2010 8:28am Mar 11, 2010 8:28am
This morning my previous bullish scenario was proved, so I detailed my view on bullish pattern @ GBPUSD.

Since the pair started to go higher, it made several upside impulses, that can be divided in a way shown @ 15 min chart.

At the moment 3rd bullish wave is forming, and now we’re ahead of completing part [v] of (3) of 3. Then, a retracement (4) to wave (3) has to come. Later we’ll see the finishing part (5) of 3. Depending on how far the uptrend comes, I’ll update later the following perspectives on this pair.


2 charts and actual trading options for scalping and short-term trades can be found through the latest entry in my signature link.
  • #205,179
  • Mar 11, 2010 8:30am Mar 11, 2010 8:30am
From a simple 5m compression - release to bubble pattern.

Dr. D.
Attached Images
  • #205,180
  • Mar 11, 2010 8:31am Mar 11, 2010 8:31am
I got my long taken out in the retrace, my own fault for the stop being dragged up to soon, got in again on a long at a slightly better level than before...

I need to learn not to drag my stop up too soon, 40 pips clearance is the bare minimum for this pair methinks!
919 traders viewing now