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Cable Update (GBPUSD)

  • #218,241
  • Apr 15, 2010 2:37pm Apr 15, 2010 2:37pm
Quoting Nectarios
If there is a clear winner, yes Cable should go up. If not should go lower.
  • #218,242
  • Apr 15, 2010 2:38pm Apr 15, 2010 2:38pm
Quoting Nectarios
If there is a clear winner, yes Cable should go up. If not should go lower.
and surely goes to right side on your screen..
  • #218,243
  • Apr 15, 2010 2:55pm Apr 15, 2010 2:55pm
Quoting cloggie
Short 5497, no SL/TP looking at 5459 as target.
Closed with a bit of profit, PA is dead here. 5459 is not likely here.
  • #218,244
  • Apr 15, 2010 2:58pm Apr 15, 2010 2:58pm
Quoting cloggie
Closed with a bit of profit, PA is dead here. 5459 is not likely here.
so now long or u wait for better train..?!
  • #218,245
  • Apr 15, 2010 2:59pm Apr 15, 2010 2:59pm
Quoting Crazy-Man
kill.. man tell me as good news as you can.. how much greens you get today..

hope it was great day for u..


i got some how about u best of luck
  • #218,246
  • Apr 15, 2010 3:08pm Apr 15, 2010 3:08pm
Quoting kill56
i got some how about u best of luck
me too.. man.. nice day.. with profit.. closing by TP..

what's now.. some plans for night trading..?!
  • #218,247
  • Apr 15, 2010 3:13pm Apr 15, 2010 3:13pm
I'm seeing a bullish wedge on the M15 & H1. Not a great time of day for PA though.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 20090415c.gif Size: 18 KB
The market is always right.
  • #218,248
  • Apr 15, 2010 3:22pm Apr 15, 2010 3:22pm
Quoting Artie
I'm seeing a bullish wedge on the M15 & H1. Not a great time of day for PA though.

I agree with you, it is starting to look like a break of 55, I want to see a good momentum break of 5516 before I will look at for a setup.
  • #218,249
  • Apr 15, 2010 3:24pm Apr 15, 2010 3:24pm
Quoting Crazy-Man
me too.. man.. nice day.. with profit.. closing by TP..

what's now.. some plans for night trading..?!

nothing realy it will be a boring long night
  • #218,250
  • Apr 15, 2010 3:30pm Apr 15, 2010 3:30pm
Quoting Nectarios
The UK leaders debate will start in a few minutes. It might effect this pair.

Watch it live here... http://www.itv.com/
Same old boring politicians!

They are all the same... full of it!
  • #218,251
  • Apr 15, 2010 3:47pm Apr 15, 2010 3:47pm
I am playing poker tomorrow night with the boys, I won't get home until 2am and I am shattered. Going to bed with some reading material... of the Forex kind, before anyone asks

See you in the morning!
  • #218,252
  • Apr 15, 2010 4:01pm Apr 15, 2010 4:01pm
Quoting forexlion
ctic

the last i read was Ball_Bar was long cable, is he still long or changed ? whats his status, can you update me please
I believe he is still long targeting mid 5500's.
  • #218,253
  • Edited 5:06pm Apr 15, 2010 4:05pm | Edited 5:06pm
Another pretty solid bounce of 55 again. The bears may win this little battle here, does not mean they are winning the war though. Short 5496, let's see

Edit: stops in place, am done for today. SL 553, TP 543
  • #218,254
  • Apr 15, 2010 5:04pm Apr 15, 2010 5:04pm
I have come up with a set of rules that I follow after many poor trades with Cable in the last 7 years. These have to be maintained or a loosing result will occour. They are as follows:

1) Patience is number one rule, ( If you are patient with Cable it will reward you, big time. If you try to chase Cable, it will eat you alive.)

2) You must be able to shrug off any sudden retraces, in excess of 40-50 pips, against a smooth running trend. That brings me to #3.

3) Never trade Cable with a stoploss of less than 65 Pips. ( A good rule of thumb is to stay below last 4 hr high or low ).

4) Never trade against a major Candle Formation going with the major trend. ( Example: Morning Star, Tweezers....Etc )

5) Instead of trading retraces, try scaling in with micro lots, I did this and it helped me considerly.

I understand the newbys wanting to be big shots out of the box because I was one of those. I was told not to trade Cable until I had a couple of years under my belt. I ignored him and blew out a $50,000 account because I refused to use a stop larger than 35 pips.

If you are new and trading Cable, ask yourself these 2 questions:

a) Do you regularly get stopped out and then see the trade go on in your direction?

b) Do you sit by your computer watching your trade, afraid of going away from it?

If yes to any of these you should not be trading Cable because you do not understand the fundamentals of the pair. I am not trying to be a know it all, I am just trying to help someone to keep from making the same mistake I did. Take it for what its worth.

Thanks for your time,

Jim
  • #218,255
  • Apr 15, 2010 5:08pm Apr 15, 2010 5:08pm
nice advise jim.. you make it clear enough..
  • #218,256
  • Apr 15, 2010 5:09pm Apr 15, 2010 5:09pm
New channel formed. I believe its time for G/U to consolidate a bit and this may be lucrative. Low risk and high gain here. Lets see if it pans out.

Jim
Attached Image (click to enlarge)
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  • #218,257
  • Apr 15, 2010 5:10pm Apr 15, 2010 5:10pm
Dont mean anything by it, just trying to help out a friend.

Jim

Quoting plumiash
nice advise jim.. you make it clear enough..
  • #218,258
  • Apr 15, 2010 5:11pm Apr 15, 2010 5:11pm
Quoting Nene
I have come up with a set of rules that I follow after many poor trades with Cable in the last 7 years. These have to be maintained or a loosing result will occour. They are as follows:

1) Patience is number one rule, ( If you are patient with Cable it will reward you, big time. If you try to chase Cable, it will eat you alive.)

2) You must be able to shrug off any sudden retraces, in excess of 40-50 pips, against a smooth running trend. That brings me to #3.

[b][color=blue]3) Never trade...

great post man

are the same nene at std
  • #218,259
  • Apr 15, 2010 5:15pm Apr 15, 2010 5:15pm
Quoting Bull_Bear
Trrade closed @ 1.5432

Buy

1.5432.. SL.. 1.5370.. TP.. 1.5540
Trade CLOSED @ 1.5475

Sell

1.5475.. SL.. 1.5540 TP.. 1.5320
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #218,260
  • Apr 15, 2010 5:15pm Apr 15, 2010 5:15pm
[quote=Nene;3643227]I have come up with a set of rules that I follow after many poor trades with Cable in the last 7 years. These have to be maintained or a loosing result will occour. They are as follows:





Plain truth.

U are a great man.

Please keep it up
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