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Cable Update (GBPUSD)

  • #206,761
  • Mar 17, 2010 4:45am Mar 17, 2010 4:45am
Quoting cableboy
calling all bulls that caught the jump whats your targets? how far you trailing? how you handling the position?

54 next (has been my target since yesterday) A leaked report from Brussels says that the UK debt is not as bad as originally thought, more impetus for a further rise. Let's see how the PPI/CPI comes out later.
  • #206,762
  • Mar 17, 2010 4:45am Mar 17, 2010 4:45am
Holy short squeeze, Batman!
  • #206,763
  • Mar 17, 2010 4:46am Mar 17, 2010 4:46am
Quoting Tovinces
my targets were set @ 1.529 and 1.53
as you can see, they're alreay closed!
i am still going , no TP yet. will see after 1.5360 , may be my TP will be 1.5425
  • #206,764
  • Mar 17, 2010 4:46am Mar 17, 2010 4:46am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I am still in buy the dips and sell the rallies camp...

Reason:
http://www.forexfactory.com/showpost...&postcount=103
Attached Image (click to enlarge)
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  • #206,765
  • Mar 17, 2010 4:46am Mar 17, 2010 4:46am
The plan didn't work out, but there was no skin of my nose. Maybe the better strategy was to cover the short when I was in a favourable position. Opening up positions against the trend is not ideal and MY strategy is to open smaller positions against the trend and vice versa. My BE SL was a smart move. Time to sit back and re-assess. I also have shed loads of work to do. Enjoy your day.
  • #206,766
  • Mar 17, 2010 4:50am Mar 17, 2010 4:50am
Quoting Honored
i am still going , no TP yet. will see after 1.5360 , may be my TP will be 1.5425
How have you counted your possible targets, I mean 1.526 and 1.5425
As for me, the next big stop for the cable might become 1.548 level, but to me it's unlikely we'll see it without a previous correction move.
  • #206,767
  • Mar 17, 2010 4:50am Mar 17, 2010 4:50am
Quoting Honored
One time my stop didn't work, due to slippage. since then i stopped trading before news. too scared to use them when the news comes out.
I have been ok with that, only ever been slipped about 4 pips with IG, but I wouldnt recomend trading around news (if you are a scalper like I am, ie looking for 100 pips or so) problem was I was in since 8AM UK time and showing about 4 pips up moments before being destroyed by the news, it was on my stop before I could even hit the close button!

I am sure a few people here profited nicely from that, so well done chaps...I am really undecided now on what is a good trade, wouldnt enter a long now, as it could return to the original level...been a very good week for the pound so far, but there must be a retrace somewhere along the line...
  • #206,768
  • Mar 17, 2010 4:51am Mar 17, 2010 4:51am
Quoting ams
I am still in buy the dips and sell the rallies camp...

Reason:
http://www.forexfactory.com/showpost...&postcount=103
Mr ams sell at 1,5418 or current price?
  • #206,769
  • Mar 17, 2010 4:51am Mar 17, 2010 4:51am
Quoting cloggie
54 next (has been my target since yesterday) A leaked report from Brussels says that the UK debt is not as bad as originally thought, more impetus for a further rise. Let's see how the PPI/CPI comes out later.
i was out at 300 with the first and 330 with the second second target was supposed to be 400 but i bottled it!!! i hope the uk debt is better than expected so others who stayed in make the pips. i wish you luck my friend.

was also long on gbp/jpy with an order above the high bu my dealer got me in at a robbery level.
  • #206,770
  • Mar 17, 2010 4:53am Mar 17, 2010 4:53am
She's getting close to the cross roads peoples... either you protect your longs or I'd look to take her off the table soon @ 1.5330 - 1.5350.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #206,771
  • Mar 17, 2010 4:56am Mar 17, 2010 4:56am
Quoting Bull_Bear
She's getting close to the cross roads peoples... either you protect your longs or I'd look to take her off the table soon @ 1.5330 - 1.5350.
hey bull bear how are you bro hope everything is going goood with you ...what is your call for today?


Ub
  • #206,772
  • Mar 17, 2010 4:56am Mar 17, 2010 4:56am
Quoting Bull_Bear
She's getting close to the cross roads peoples... either you protect your longs or I'd look to take her off the table soon @ 1.5330 - 1.5350.

I agree with Bull. We're at a fork in the road lol literally and figuratively speaking .
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 241 KB
  • #206,773
  • Mar 17, 2010 4:57am Mar 17, 2010 4:57am
Quoting Tovinces
How have you counted your possible targets, I mean 1.5360 and 1.5425
As for me, the next big stop for the cable might become 1.548 level, but to me it's unlikely we'll see it without a previous correction move.
R3 the next resistance is 1.5360 1.5390 and 420 are the next important levels
There will be a huge retrace somewhere i am sure.
  • #206,774
  • Mar 17, 2010 4:58am Mar 17, 2010 4:58am
Quoting learntowin
So Keep Buying @ dips


Target : 1.5300 - 1.5800 - 1.6300

Dont miss the train

Risk 300 pips max for 1000 pips
  • #206,775
  • Mar 17, 2010 4:59am Mar 17, 2010 4:59am
Quoting cloggie
Am I allowed to keep my longs open or do I have to close them?
lol


If people understood the basics of supply and distribution they wouldn't have been short in this area. The large orders are most likely sitting above 15410. 140 on GY. Whenever we get near this kind of prize the defense lines are stronger the closer we get.

Lot's of supply pullbacks and catching shorts. If we can breach the order area, then we'll get a large distribution off the back of it. If the defenses are too strong, they'll kick us downstairs before then.

So far, it's been classic GU.
  • #206,776
  • Mar 17, 2010 5:00am Mar 17, 2010 5:00am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I personally wouldn't try shorting before 154200... with SL @ 50-70 pips...


Quoting bonus76
Mr ams sell at 1,5418 or current price?
  • #206,777
  • Mar 17, 2010 5:03am Mar 17, 2010 5:03am
Quoting ams
I personally wouldn't try shorting before 154200... with SL @ 50-70 pips...

Thank you Mr Ams:-)
  • #206,778
  • Mar 17, 2010 5:04am Mar 17, 2010 5:04am
Quoting Fudomyo
lol


If people understood the basics of supply and distribution they wouldn't have been short in this area. The large orders are most likely sitting above 15410. 140 on GY. Whenever we get near this kind of prize the defense lines are stronger the closer we get.

Lot's of supply pullbacks and catching shorts. If we can breach the order area, then we'll get a large distribution off the back of it. If the defenses are too strong, they'll kick us downstairs before then.

So far, it's been classic GU.

I love the classic noob response: "It has been going up for a day so it will go down now"....

Trade your charts, no pullback confirmed here.

I agree with you Fudomyo there is room left on the upside, dollar is bearish again today and some good news from the UK. Sterling is the lesser of two evils here.
  • #206,779
  • Mar 17, 2010 5:06am Mar 17, 2010 5:06am
Quoting ubaidahsan
hey bull bear how are you bro hope everything is going goood with you ...what is your call for today?


Ub
Ub I have just taken my long off the table mate @ 1.5350.

I'm looking to sell for retrace, but I out for now mate.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #206,780
  • Mar 17, 2010 5:07am Mar 17, 2010 5:07am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
totaly agree.....

First set of order around 54xxx next and big order around 158...
As usual, any news will be made/comeup from nowhere to fullfill

ta
ams


Quoting Fudomyo
lol


If people understood the basics of supply and distribution they wouldn't have been short in this area. The large orders are most likely sitting above 15410. 140 on GY. Whenever we get near this kind of prize the defense lines are stronger the closer we get.

Lot's of supply pullbacks and catching shorts. If we can breach the order area, then we'll get a large distribution off the back of it. If the defenses are too strong, they'll kick us downstairs before then.

So far, it's been classic GU.
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