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Cable Update (GBPUSD)

  • #214,861
  • Apr 8, 2010 2:13pm Apr 8, 2010 2:13pm
Quoting 9000rpm
longed at 1.5221. tp at 1.5284
manually closed at 1.5273
  • #214,862
  • Apr 8, 2010 2:14pm Apr 8, 2010 2:14pm
it might just range here all night within 30 pip range till london open and then may be a bull move to 1.5300 neckline touch at the london open start and then start a big down move for the day
  • #214,863
  • Apr 8, 2010 2:15pm Apr 8, 2010 2:15pm
Hrmmmmmmmmmmmmmmmm......
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #214,864
  • Apr 8, 2010 2:15pm Apr 8, 2010 2:15pm
Quoting cloggie
Still here.
It had a couple of goes up this way at roughly this time last night then caved in, seems a bit more stubborn tonight.
Back to basics, it has to be for me!
  • #214,865
  • Apr 8, 2010 2:16pm Apr 8, 2010 2:16pm
Quoting Honored
it might just range here all night within 30 pip range till london open and then may be a bull move to 1.5300 neckline touch at the london open start and then start a big down move for the day

or could do what coke is thinking and bust up north.... got to love the forex haha
  • #214,866
  • Apr 8, 2010 2:16pm Apr 8, 2010 2:16pm
Quoting zoom
SL 5303 ... abit above daily R1

good luck everybody!

PS. WHO IS SHORT??? (still..)
me...
SL 95...

us still got news...hopeing will change the table..
Revesal Trader
  • #214,867
  • Apr 8, 2010 2:16pm Apr 8, 2010 2:16pm
Quoting cloggie
Still here.
getting nervous cloggs???
@pawpaw1000 on Twitter
  • #214,868
  • Apr 8, 2010 2:18pm Apr 8, 2010 2:18pm
Quoting BadTradingFi
I have a spreadsheet for my trades with a space at the side with something similar to work out my average if I've put a few bids on:

You want something like ((A * AX) + (B * BX)) / (AX + BX), which will work for longs and shorts too and you can expand it for numerous entries at different levels.

eg two bids for 5 something at 1000 and at 1020 ((1000 * 5) + (1020 * 5)) / (5+5) = 1010

Not exactly what you are after, but maybe you can base something on it.
I need to make this clearer I think so let me be specific...

Lets assume 10000 account size. According to forexcalc.com my lot size would be .45 based on a 110 pip SL. (no, i dont know the formula for this either )

So assume entry of .45 lots at 1.5260.

Later the price dropped to 1.5245 and the indicator I use for SL position moved up to 1.5164 or an 81 pip SL, making my original entry a 3.68% risk leaving me with 1.32%.

According to forexcalc.com that would equal .16 lots.

This would make my average entry 1.5255016 with a 91 pip SL. Per forexcalc.com a 5% risk with that size SL comes out to .54 lots, not the .61...

Im so confused.
  • #214,869
  • Apr 8, 2010 2:19pm Apr 8, 2010 2:19pm
worth noting that last night's rejection was quite quick if you look at the 1hr candles though. a big bull candle followed by a rejection and confirmed rejection.

tonight's is more consolidating from 250 upwards for the last 4 or 5 hours..
  • #214,870
  • Apr 8, 2010 2:20pm Apr 8, 2010 2:20pm
Quoting pawpaw1000
getting nervous cloggs???

I don't get nervous over a trade.
  • #214,871
  • Apr 8, 2010 2:28pm Apr 8, 2010 2:28pm
Quoting pawpaw1000
getting nervous cloggs???
relax have a drink
  • #214,872
  • Apr 8, 2010 2:33pm Apr 8, 2010 2:33pm
Quoting kill56
relax have a drink
Which way did your crystal ball tell you to go out of interest?
Back to basics, it has to be for me!
  • #214,873
  • Apr 8, 2010 2:33pm Apr 8, 2010 2:33pm
@h4

cheers!
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... feel better day by day.
  • #214,874
  • Apr 8, 2010 2:33pm Apr 8, 2010 2:33pm
Quoting Magix
Hrmmmmmmmmmmmmmmmm......

that is a scary chart
  • #214,875
  • Apr 8, 2010 2:35pm Apr 8, 2010 2:35pm
Quoting jp09
worth noting that last night's rejection was quite quick if you look at the 1hr candles though. a big bull candle followed by a rejection and confirmed rejection.

tonight's is more consolidating from 250 upwards for the last 4 or 5 hours..
if price moves a little further down to close this hourly candle around 5250 we will end up just like yesterday's rejection candle n then may be a confirmed candle down to the DP in the next hour later
  • #214,876
  • Apr 8, 2010 2:39pm Apr 8, 2010 2:39pm
just to re-cap

still holding my shorts on GU

my next target is 1.5025

GOOD luck to all
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #214,877
  • Apr 8, 2010 2:41pm Apr 8, 2010 2:41pm
Here's Bakker, he's back!

What did I miss? Blimey, we are going up? I'll have to turn my monitor round to make me feel better

Oh well... 95 is still a few pips away. You never know... this lady is crazy and tomorrow is even crazier!

My wedgie is broken, but this week's high is still holding. Let's hope Asia sees some sense and brings her back down to earth.
  • #214,878
  • Apr 8, 2010 2:42pm Apr 8, 2010 2:42pm
Quoting kill56
that is a scary chart
Not really Kill...

It is the same thing we came into this week expecting. We came 400 pips off bottom, almost non stop straight up. The pull back to hourly 200EMA was expected, K, we got that....

So whut up with the rest of this week? Dunno.

But all of the lower time frames have come back to confirm topside movement, which seems to play out in favor of the H4.

Troubling...We haven't hit weekly high since it was posted, but higher lows on the daily dips....
That being said, if the M30 200EMA holds through London, we should get trigger on trend for m5-m30 about the same northerly spike, and perhaps no turning back until we see the 200 on daily.

Something has to give.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #214,879
  • Apr 8, 2010 2:44pm Apr 8, 2010 2:44pm
Just checked the Quant boys. They're sitting this one out. Not a good start to April for them. Cable got them good and proper!

http://quantts.com/positions.php
  • #214,880
  • Apr 8, 2010 2:44pm Apr 8, 2010 2:44pm
Hey all,
I woke up late and got lucky finding cable at resistance, so I've all in on it to go back down. It's been chipping at my SL over the last 2 hours, makes for a nail biter, so I'm watching anxiously at the open coming up.
Hey, it's exciting, I'll give it that!
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