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Cable Update (GBPUSD)

  • #205,421
  • Mar 12, 2010 4:34am Mar 12, 2010 4:34am
Quoting Ctic
Charts are saying that, however, there is no selling pressure whats so ever. Bears appear to have gone into hibernation as the bulls finally woke up. We may have a 300 pip day.
Could be. Must use stops. The market is set up to trick us so I just stick with my trading plan. I can't let this bullish momentum scare me. That said it doesn't look good for the Bears but the market has a memory and this could be a set up for good fall before coming back up. Like you said, this pair likes whip saw you to death.
  • #205,422
  • Mar 12, 2010 4:35am Mar 12, 2010 4:35am
Quoting pawpaw1000
just looking for 15 - 20 pips... so 1.5175-80...
It's a possibility but as JR said kind of risky trade for a small SL. We may retrace back before pushing up.
  • #205,423
  • Mar 12, 2010 4:36am Mar 12, 2010 4:36am
Quoting JRoyal
Could be. Must use stops. The market is set up to trick us so I just stick with my trading plan. I can't let this bullish momentum scare me. That said it doesn't look good for the Bears but the market has a memory and this could be a set up for good fall before coming back up. Like you said, this pair likes whip saw you to death.
We could range here for weeks...I has happened before and I am sure it will happen again. I don't think so this time, but it could.
  • #205,424
  • Mar 12, 2010 4:37am Mar 12, 2010 4:37am
Quoting pawpaw1000
Wow, those are great trades... I use the indicator and then S/R lines (horizontal)... thats that! I am new to trading, only goin 2 months with a week real. Up 10% for the week though but agree that I need to sharpen my entry/exit strategy. What you use mainly?
I'll PM you to prevent clogging up the thread.
  • #205,425
  • Mar 12, 2010 4:39am Mar 12, 2010 4:39am
Quoting Ctic
It's a possibility but as JR said kind of risky trade for a small SL. We may retrace back before pushing up.
yes, but I am prepared to risk 10 pips for a possible 20 with all the momentum we have. I reckon will still go up to just before 1.52 before dropping to 1.5100.

If i'm wrong, I lose 10 pips, If i'm right, I gain 20 and with support below me, I feel comfortable with the risk.
@pawpaw1000 on Twitter
  • #205,426
  • Mar 12, 2010 4:40am Mar 12, 2010 4:40am
i'm Done..., i don't hope crazy Friday cos more than 2000 pips in a week is already CRAZY FOR ME
this is the biggest profit i ever made in a week from DEMO till Live...
THanks You GOD.... MmuuUUAH...
I will be the number one Manager.
  • #205,427
  • Mar 12, 2010 4:40am Mar 12, 2010 4:40am
Quoting Ctic
Hope you were long Kill...now do you think my 5207 is in range? May even be 5260 if news pushes up.

i hit and run bro long short

take a look at daily its friday man allways crazy
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  • #205,428
  • Mar 12, 2010 4:41am Mar 12, 2010 4:41am
Quoting javapips
i'm Done..., i don't hope crazy Friday cos more than 2000 pips in a week is already CRAZY FOR ME
this is the biggest profit i ever made in a week from DEMO till Live...
THanks You GOD.... MmuuUUAH...

so happy for u enjoy
  • #205,429
  • Mar 12, 2010 4:41am Mar 12, 2010 4:41am
Quoting kill56
its all about the eu news was good still its friday too crazy
crazy like me...when OP i hit the wrong button...its shoud be BUY but Sell
  • #205,430
  • Mar 12, 2010 4:41am Mar 12, 2010 4:41am
Quoting JRoyal
Chart tells me there should be last line of Bears selling in the zone we're in now. If they can't slow this thing down then I don't know when it's gonna make significant pullback. Remember, this is a bounce off the 61% retracement of the Jan 09 - Aug 09 move up so there is prob real strength behind the move.
Outlook: Long-term

I see where you get ~15700 figure from when checking the weekly chart and setting up the fib. Maybe the budget details that will be released on the 24th March will be a surprise that drives cable up to those levels as Darling warns of 'No give-away budget' as per the BBC News article http://news.bbc.co.uk/1/hi/business/8562973.stm as they freeze public pay, but this Government is not telling us the straight truth, never has done. Our debt levels our increasing at a frightening pace and Labour are not willing to tackle it until 2011. There are going to be a lot of tears after the election.

This article cracks me up -http://news.bbc.co.uk/1/hi/uk_politics/8493897.stm

We shall see Gordon, we shall see! You were right about everything else
  • #205,431
  • Mar 12, 2010 4:42am Mar 12, 2010 4:42am
Quoting kill56
i hit and run bro long short

take a look at daily its friday man allways crazy

I hear you bro, I am usually the same way.. I can't believe the day I am having...406 total pips. Best day I have had all year... Makes up for that last week in February where I didn't do so well. lol. Friday is crazy but I love it...BTW 8 pips w/in each other is considered a hit in my book.
  • #205,432
  • Mar 12, 2010 4:44am Mar 12, 2010 4:44am
Quoting thrishelle
crazy like me...when OP i hit the wrong button...its shoud be BUY but Sell
Schoolboy error! That is why I always do an order to open. I get in at the right price and the right direction (not always the correct direction!). If short-term position, I put in a limit with a minimum of 2:1, but long-term there are no limits. Just move the SL appropriately.
  • #205,433
  • Mar 12, 2010 4:45am Mar 12, 2010 4:45am
the anticipation is killing me! Do something Miss cable
@pawpaw1000 on Twitter
  • #205,434
  • Mar 12, 2010 4:46am Mar 12, 2010 4:46am
Quoting pawpaw1000
yes, but I am prepared to risk 10 pips for a possible 20 with all the momentum we have. I reckon will still go up to just before 1.52 before dropping to 1.5100.

If i'm wrong, I lose 10 pips, If i'm right, I gain 20 and with support below me, I feel comfortable with the risk.
That's the name of the game. Because I won't buy here doesn't mean don't buy. Heck, I would never have bought anything higher than 1.5125 but there was 45 pips to be made for those that did so if you've backtested your strategy and found it to have a good success rate with good risk/reward then by all means trade it! I trade a 15 minute chart that has a daily chart overlay or map as I call it but if I was a scalper, maybe I'd take that trade too. It's just perspective.
  • #205,435
  • Mar 12, 2010 4:47am Mar 12, 2010 4:47am
Quoting thrishelle
crazy like me...when OP i hit the wrong button...its shoud be BUY but Sell
It happens...Sometimes still, I make the dumb errors like you did or place a trade in a wrong country pair. I place a trade once in a pair I never even heard of, nor had charts for.
  • #205,436
  • Mar 12, 2010 4:49am Mar 12, 2010 4:49am
Quoting JRoyal
That's the name of the game. Because I won't buy here doesn't mean don't buy. Heck, I would never have bought anything higher than 1.5125 but there was 45 pips to be made for those that did so if you've backtested your strategy and found it to have a good success rate with good risk/reward then by all means trade it! I trade a 15 minute chart that has a daily chart overlay or map as I call it but if I was a scalper, maybe I'd take that trade too. It's just perspective.
yeah, plus, If i can catch one of these up waves, I've made my day...

Lets say I'm wrong twice and catch the third train, I'm still up for the day seeing as these babies move by upwards of 25pips...

but yeah, I am a bit nervous, can tell you that much
@pawpaw1000 on Twitter
  • #205,437
  • Mar 12, 2010 4:51am Mar 12, 2010 4:51am
down we go???
@pawpaw1000 on Twitter
  • #205,438
  • Mar 12, 2010 4:53am Mar 12, 2010 4:53am
Quoting Ctic
I hear you bro, I am usually the same way.. I can't believe the day I am having...406 total pips. Best day I have had all year... Makes up for that last week in February where I didn't do so well. lol. Friday is crazy but I love it...BTW 8 pips w/in each other is considered a hit in my book.
man five years on crackforex the best way is hit and run any green pips

i am happy for u bro keep rubbing the bank
  • #205,439
  • Mar 12, 2010 4:54am Mar 12, 2010 4:54am
Quoting Ctic
It happens...Sometimes still, I make the dumb errors like you did or place a trade in a wrong country pair. I place a trade once in a pair I never even heard of, nor had charts for.
Was that the outer mongolian ruble and the artican krona. Damn hard to get those charts
  • #205,440
  • Mar 12, 2010 4:54am Mar 12, 2010 4:54am
Good day to you all,

http://www.forexfactory.com/showpost...stcount=205181

I will be closing both longs now. Not to say I will not enter again, but likely time for PA to take a breather.... will see what comes up later and will enter accordingly.

Wish you all success

Regards
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