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Cable Update (GBPUSD)

  • #206,881
  • Mar 17, 2010 8:16am Mar 17, 2010 8:16am
I cant trade this, Dont have any Idea where the market is going. Need to wait for 5420 or below 5200 to start to see something.

I'm sitting out until 2moro or until something changes!
@pawpaw1000 on Twitter
  • #206,882
  • Mar 17, 2010 8:17am Mar 17, 2010 8:17am
Quoting bbakker
To be honest, in my eyes this news has done sweet FA. If you wanted action on news, you had to be here this morning or when the NFP comes out. I am in for the retrace to 15170.

I must stress, remember I am the chaff (newbie) and my positions are VERY small. I am playing at the moment, finding my feet and trying to find MY strategies. I post on here because it is an outlet, as apart from my wife, no one else knows I am doing this as yet, because they will think that I am mad.

I have a long way to go, many things to learn and finding my strategies....
Yes I suppose that icom showing me pulling my hair is rather graphic,,,, I am a newbie too and was looking for logical expalnation as to the lack of movement . This morning we did have good news for GBP and it shot up.
Many thanks for your advise nonetheless
Carlos
  • #206,883
  • Mar 17, 2010 8:17am Mar 17, 2010 8:17am
NY open in 15 mins. Still long
  • #206,884
  • Mar 17, 2010 8:18am Mar 17, 2010 8:18am
Quoting bbakker
To be honest, in my eyes this news has done sweet FA. If you wanted action on news, you had to be here this morning or when the NFP comes out. I am in for the retrace to 15170.

I must stress, remember I am the chaff (newbie) and my positions are VERY small. I am playing at the moment, finding my feet and trying to find MY strategies. I post on here because it is an outlet, as apart from my wife, no one else knows I am doing this as yet, because they will think that I am mad.

I have a long way to go, many things to learn and finding my strategies....
Me too! also very newbie,just reading & learning at the moment, also not old anyone....
Finding this thread very useful though,thanks everyone
  • #206,885
  • Mar 17, 2010 8:19am Mar 17, 2010 8:19am
Quoting pawpaw1000
I cant trade this, Dont have any Idea where the market is going. Need to wait for 5420 or below 5200 to start to see something.

I'm sitting out until 2moro or until something changes!
I thought you said earlier today you were going to set yourself for the uptrend......did you close your trade??
  • #206,886
  • Mar 17, 2010 8:19am Mar 17, 2010 8:19am
Quoting cloggie
NY open in 15 mins. Still long
It has been open for 1hr 20min...

go see on forex time
http://forex.timezoneconverter.com/
@pawpaw1000 on Twitter
  • #206,887
  • Mar 17, 2010 8:21am Mar 17, 2010 8:21am
Quoting pawpaw1000
It has been open for 1hr 20min...

go see on forex time
http://forex.timezoneconverter.com/

NYSE opens in 10 mins yes the CME is open but the NYSE is a good driver for early afternoon trading especially when the DJ futures are up. DJ has reached the 61 fib from last years low.
  • #206,888
  • Mar 17, 2010 8:21am Mar 17, 2010 8:21am
Quoting cloggie
NY open in 15 mins. Still long
What happened to your bearish stance
  • #206,889
  • Mar 17, 2010 8:24am Mar 17, 2010 8:24am
Quoting solrac
I thought you said earlier today you were going to set yourself for the uptrend......did you close your trade??
yes, was hoping the news would give some movement but seeing as nothing happened I closed out with -7pips...

I now cant see where we are going and seems like it is just news moving us...

normally the market goes up in waves but this one goes up in leaps and bounds! Goes up 100 - 200 pips, then stands still/ meanders for a while, then shoots up 200 pips.

I need to sit out a bit. Dont train 2moro so I have the whole day to see wassaup

gotta go train again, Good luck to all...

another reason I am skeptical is there are so many shorts around this area and 5420 so dont know what will happen. Even the bulls have started to close positions and I dont want to join the party on the last day just to be stopped out again. I am waiting for a clear direction, dont wanna jump in at the 80% of the trend and catch the down...
@pawpaw1000 on Twitter
  • #206,890
  • Mar 17, 2010 8:26am Mar 17, 2010 8:26am
Quoting pawpaw1000
yes, was hoping the news would give some movement but seeing as nothing happened I closed out with -7pips...

I now cant see where we are going and seems like it is just news moving us...

normally the market goes up in waves but this one goes up in leaps and bounds! Goes up 100 - 200 pips, then stands still/ meanders for a while, then shoots up 200 pips.

I need to sit out a bit. Dont train 2moro so I have the whole day to see wassaup

gotta go train again, Good luck to all...

another reason I am skeptical is there are so many shorts around...
Good reasoning
  • #206,891
  • Mar 17, 2010 8:26am Mar 17, 2010 8:26am
Quoting pawpaw1000
yes, was hoping the news would give some movement but seeing as nothing happened I closed out with -7pips...

I now cant see where we are going and seems like it is just news moving us...

normally the market goes up in waves but this one goes up in leaps and bounds! Goes up 100 - 200 pips, then stands still/ meanders for a while, then shoots up 200 pips.

I need to sit out a bit. Dont train 2moro so I have the whole day to see wassaup

gotta go train again, Good luck to all...

another reason I am skeptical is there are so many...
Wise man,,,, happy trainning
  • #206,892
  • Mar 17, 2010 8:29am Mar 17, 2010 8:29am
Quoting Forexfsa
u can just feel this thing is going to take off look at the Big green 4 hrl

Much as the green candle on H4 is impressive, it is not a maribozu. Have u also noticed the character of the next candle that is forming? There is nothing to show that it will duplicate the preceding candle.

So, dicey remains the word. Were it another pair, u can stick out ur neck but this is the Cable!
  • #206,893
  • Mar 17, 2010 8:29am Mar 17, 2010 8:29am
putting in a small short at 5422 with sl 40 pips and t/p manual...

Looking at that as being the top....
@pawpaw1000 on Twitter
  • #206,894
  • Mar 17, 2010 8:31am Mar 17, 2010 8:31am
Quoting bbakker
What happened to your bearish stance

http://img714.imageshack.us/img714/4...beatbullis.jpg

  • #206,895
  • Mar 17, 2010 8:37am Mar 17, 2010 8:37am
Trading $ news is never easy, the mighty $ is still seen as a haven currency, so if things look bad for the US (news wise) that can spark buying of the dollar and the price rising...sometimes.

Its always tricky to know, thats why I try to stay away, got cought this morning on the pound news, the USD news seemed to have little effect, I was up about 20 points and had my finger on the trigger to get out, nothing really happend, I did get spiked out about 15 mins later though on BE + 1, so still not a good day at all.

Now I too am sitting on the sides as I really dont know...nothing wrong with sitting out, preservation of capital is king!
  • #206,896
  • Mar 17, 2010 8:40am Mar 17, 2010 8:40am
Good day traders , some food for thought for those still attempting to short and looking for more than scalps , not saying it is right or wrong , end of this month marks the end of the quarter , I would think there is some profits being booked and those who planned on booking and didnt do so near the lows may not want to see more profits erode and may exit rather quickly here so this could keep chewing its way up , I personaly wouldnt be suprised to see 1.55 area shortly , a few days maybe , not really much of a stretch from current levels , as stated just my opinion. I guess the charts will let us know for sure , cheers all and happy trading
  • #206,897
  • Mar 17, 2010 8:41am Mar 17, 2010 8:41am
Quoting Lordpip
Short on gu for a scalp . Target .5260
I'm holding my short on gu
  • #206,898
  • Mar 17, 2010 8:43am Mar 17, 2010 8:43am
Quoting pawpaw1000
I am waiting for a clear direction, dont wanna jump in at the 80% of the trend and catch the down...




Want to assure u, u'll wait for long if a clear direction is ur objective. Remember, this is the ultimate powerful Cable that can make or mar
  • #206,899
  • Mar 17, 2010 8:44am Mar 17, 2010 8:44am
Quoting antic81
Trading $ news is never easy, the mighty $ is still seen as a haven currency, so if things look bad for the US (news wise) that can spark buying of the dollar and the price rising...sometimes.

Its always tricky to know, thats why I try to stay away, got cought this morning on the pound news, the USD news seemed to have little effect, I was up about 20 points and had my finger on the trigger to get out, nothing really happend, I did get spiked out about 15 mins later though on BE + 1, so still not a good day at all.

Now I too am sitting on the...
Yup. Maybe Bernanke will stoke some life into her in 4 hours and a bit time. I am keeping my short position open for the moment.
  • #206,900
  • Mar 17, 2010 8:49am Mar 17, 2010 8:49am
the pound doesn't even weigh a pound, the first flaw.
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