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Cable Update (GBPUSD)

  • #205,501
  • Mar 12, 2010 6:09am Mar 12, 2010 6:09am
USDCAD down 150pips...
  • #205,502
  • Mar 12, 2010 6:11am Mar 12, 2010 6:11am
Quoting pawpaw1000
aiaiai, can my day get any worse! Now I'm pressured by time also...

mmm... what to do???
It is not looking good for our shorts my friend. On the 15 min chart there are no newer lows in the last hour, yet it has touched resistance thrice in the last 45 mins. I have no volume indicator, but looking at price, it tells me that it is looking to break through the resistance. I am waiting with bated breath.
  • #205,503
  • Mar 12, 2010 6:12am Mar 12, 2010 6:12am
This is the highest we've been for 3 weeks, we got here with a tremendous push upward with no significant retracement so I have to bet on a retracement soon! Now I've got the news. Should I set S/L and hope the news is good for US, Dont know but am worried!
@pawpaw1000 on Twitter
  • #205,504
  • Mar 12, 2010 6:13am Mar 12, 2010 6:13am
Quoting bbakker
It is not looking good for our shorts my friend. On the 15 min chart there are no newer lows in the last hour, yet it has touched resistance thrice in the last 45 mins. I have no volume indicator, but looking at price, it tells me that it is looking to break through the resistance. I am waiting with bated breath.
I want to laugh but dont have the courage!!!
@pawpaw1000 on Twitter
  • #205,505
  • Mar 12, 2010 6:15am Mar 12, 2010 6:15am
Should always plan your trade before you take it, not during.
{Promotion Removed}
  • #205,506
  • Mar 12, 2010 6:17am Mar 12, 2010 6:17am
10 min... I think I've got to exit now. Any ideas what the news will be like? We could have a double bottom looking at the charts???
@pawpaw1000 on Twitter
  • #205,507
  • Mar 12, 2010 6:19am Mar 12, 2010 6:19am
Ok bbaker, I've closed half my position and have set a S/L at around 1.5173...

NEWS< BE REALLY GOOD FOR USA!!!
@pawpaw1000 on Twitter
  • #205,508
  • Mar 12, 2010 6:24am Mar 12, 2010 6:24am
Quoting PipSqueeze
Should always plan your trade before you take it, not during.
Even the best of plans can change due to unforseen circumstances, but you are right... Plan your trade and stick to it. It is so tempting to tinker with it during.
  • #205,509
  • Mar 12, 2010 6:25am Mar 12, 2010 6:25am
Quoting pawpaw1000
10 min... I think I've got to exit now. Any ideas what the news will be like? We could have a double bottom looking at the charts???
An hour and 10 mins my friend. You guys across the channel are an hour ahead! I am biding my time.
  • #205,510
  • Mar 12, 2010 6:27am Mar 12, 2010 6:27am
Quoting bbakker
An hour and 10 mins my friend. You guys across the channel are an hour ahead!
aaaah... damn, the time always screws with me... so we still have time for our shorts then!
@pawpaw1000 on Twitter
  • #205,511
  • Mar 12, 2010 6:32am Mar 12, 2010 6:32am
Quoting pawpaw1000
aaaah... damn, the time always screws with me... so we still have time for our shorts then!
You missed the short train. I would not enter in again today, but that is because I am already in.

Remember ...

Quoting kill56
also dont buy from a high and sell from a low unless u have a profit in and u are adding
  • #205,512
  • Mar 12, 2010 6:37am Mar 12, 2010 6:37am
Quoting pawpaw1000
This is the highest we've been for 3 weeks, we got here with a tremendous push upward with no significant retracement so I have to bet on a retracement soon! Now I've got the news. Should I set S/L and hope the news is good for US, Dont know but am worried!
Good day to you,

I do not know your reasons for entering short - logic tells us it is "time" for a retracement, as we have been going in one direction for some time.. That was exactly me reason to exit my longs - I felt it was time for a breather. The top is at over 2.00 at this time. The bottom is parity - both highly unlikely, but not impossible, as price was there at one stage...

You may get lucky, but a leaf you need to take out of this, is that our perception of a top or bottom, may only be the start of a greater move....

Regards
  • #205,513
  • Mar 12, 2010 6:39am Mar 12, 2010 6:39am
Quoting TauTrader
Good day to you,

I do not know your reasons for entering short - logic tells us it is "time" for a retracement, as we have been going in one direction for some time.. That was exactly me reason to exit my longs - I felt it was time for a breather....
Interesting and could prove to be true

have exited my short for a small profit...
@pawpaw1000 on Twitter
  • #205,514
  • Mar 12, 2010 6:40am Mar 12, 2010 6:40am
Quoting bbakker
You missed the short train. I would not enter in again today, but that is because I am already in.

Remember ...
What do you mean by missing the short train, there hasnt really been a retracement yet? mmm...
@pawpaw1000 on Twitter
  • #205,515
  • Mar 12, 2010 6:43am Mar 12, 2010 6:43am
Quoting pawpaw1000
Ok bbaker, I've closed half my position and have set a S/L at around 1.5173...

NEWS< BE REALLY GOOD FOR USA!!!

did you have 2 bad trades and 1good trade already??? gosh you are brave
  • #205,516
  • Mar 12, 2010 6:46am Mar 12, 2010 6:46am
Quoting pawpaw1000
10 min... I think I've got to exit now. Any ideas what the news will be like? We could have a double bottom looking at the charts???
I would say this news event will be volatile and spike through plenty of Short stops above this 1.5160 area...but that's just my view...anything could happen.
  • #205,517
  • Edited 6:57am Mar 12, 2010 6:48am | Edited 6:57am
VIEWED G/U WOULD DEFINITELY RETRACE AT THIS POINT 1.5175 TO 1.5110, FROM THERE WE NEED TO CONFIRM

mY VIEW
  • #205,518
  • Mar 12, 2010 6:48am Mar 12, 2010 6:48am
Quoting direct-trade
I would say this news event will be volatile and spike through plenty of Short stops above this 1.5160 area...but that's just my view...anything could happen.
well, seeing as we assume your view is right, it should then spike to just below 52 and make a nice retracement ;-) love speculating about things there are no ways of knowing...
@pawpaw1000 on Twitter
  • #205,519
  • Mar 12, 2010 6:49am Mar 12, 2010 6:49am
Quoting pawpaw1000
Ok bbaker, I've closed half my position and have set a S/L at around 1.5173...

NEWS< BE REALLY GOOD FOR USA!!!
A buy S/L below the resistance line? Any reason for your S/L level? That is asking to be hovered up. Mine is @ 15185. Enough room I hope, but for me a S/L of 15 that is less than 1% of my capital.

I am off to lunch now with my lovely Isobel. I have decided to stay in with the news, nor change my SL, nor change my limit. I guess if it hits my S/L it will hardly dent me. Let's hope their is a nice surprise when I come back in an hour or 3 from my liquid lunch. GL with your trade.
  • #205,520
  • Mar 12, 2010 6:50am Mar 12, 2010 6:50am
Quoting pawpaw1000
What do you mean by missing the short train, there hasnt really been a retracement yet? mmm...
That depends if you want to trade the news or not. GL. I need a drink!
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