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Cable Update (GBPUSD)

  • #221,581
  • Apr 27, 2010 2:45am Apr 27, 2010 2:45am
Anyone still hangin on to any shorts?

Still hanging onto 1.54405 and brought SL to 10 pip profit.
  • #221,582
  • Apr 27, 2010 2:47am Apr 27, 2010 2:47am
Quoting Dazzer
Anyone still hangin on to any shorts?
Nope. Seen enough and cashed all of them in. Cheeky long on the retrace!
  • #221,583
  • Apr 27, 2010 2:49am Apr 27, 2010 2:49am
Quoting bbakker
Nope. Seen enough and cashed all of them in. Cheeky long on the retrace!

hit cash in 110pips for cable is ok but u will never know
  • #221,584
  • Apr 27, 2010 2:49am Apr 27, 2010 2:49am
Quoting kill56
it was 15470alwayes hit the head man

In poker (Hold'em poker) It is called American Airlines or Double Aces... U always will the hand with those cards, I mean... What a big pocket to bag?!
Ha!!!!
  • #221,585
  • Apr 27, 2010 2:50am Apr 27, 2010 2:50am
Quoting bbakker
Nope. Seen enough and cashed all of them in. Cheeky long on the retrace!
That looks like a nice call at the moment!!!

I'll hang on til 1.53288, then thats me done for the day.... perhaps

Dazzer
  • #221,586
  • Apr 27, 2010 2:51am Apr 27, 2010 2:51am
Shorts closed. open long at 5385!
  • #221,587
  • Apr 27, 2010 2:51am Apr 27, 2010 2:51am
Quoting The Magician
yeah I'd noted that! Nice one!!
Have a good one
Thank You
  • #221,588
  • Apr 27, 2010 2:57am Apr 27, 2010 2:57am
Quoting Reznik
The Great One... I've to agree with U here. But I am out on Short and waiting on re-tracements. I suspect it will be very steep climb up!!
Hi rez

yea I've highlighted 5380 as the retest level on the previous charts. Not ruling out a slightly lower test of 5330 level but doubt that cable would close below it really. Time will tell how that goes.
D1 GBPlfx had broke above a very strong level a few days ago and current retest is nearing completion. Overall, sterling is looking bullish again. Would trade carefully tho since the election is around the corner & speculations wouldn't make the bull ride smooth.
Take it easy
Attached Image (click to enlarge)
Click to Enlarge Name: gbplfx.gif Size: 16 KB
Thank You
  • #221,589
  • Apr 27, 2010 2:58am Apr 27, 2010 2:58am
Careful with those longs everyone. Volume is not supporting any up-move just yet..

However, we are at yesterdays low, so there may be a rebounce (mainly supported by the smart money taking profits)

Good luck to all

Dazzer
  • #221,590
  • Apr 27, 2010 3:00am Apr 27, 2010 3:00am
is that our next target lets wait and see i might be wrong
Attached Image (click to enlarge)
Click to Enlarge Name: h1 cable.gif Size: 23 KB
  • #221,591
  • Apr 27, 2010 3:02am Apr 27, 2010 3:02am
Quoting wormboy
Hi rez

yea I've highlighted 5380 as the retest level on the previous charts. Not ruling out a slightly lower test of 5330 level but doubt that cable would close below it really. Time will tell how that goes.
D1 GBPlfx had broke above a very strong level a few days ago and current retest is nearing completion. Overall, sterling is looking bullish again. Would trade carefully tho since the election is around the corner & speculations wouldn't make the bull ride smooth.
Take it easy

I am out and done today... Got a PO @ 1.5360 though.
  • #221,592
  • Apr 27, 2010 3:02am Apr 27, 2010 3:02am
Quoting The Magician
Shorts closed. open long at 5385!
a bit too soon perhaps. momentum is still down
Thank You
  • #221,593
  • Apr 27, 2010 3:03am Apr 27, 2010 3:03am
Quoting kill56
is that our next target lets wait and see i might be wrong
I'm inclined to agree with you kill56.

Look at the volume supporting the previous bearish move.

Dazzer
  • #221,594
  • Apr 27, 2010 3:04am Apr 27, 2010 3:04am
Quoting wormboy
Hi rez

yea I've highlighted 5380 as the retest level on the previous charts. Not ruling out a slightly lower test of 5330 level but doubt that cable would close below it really. Time will tell how that goes.
D1 GBPlfx had broke above a very strong level a few days ago and current retest is nearing completion. Overall, sterling is looking bullish again. Would trade carefully tho since the election is around the corner & speculations wouldn't make the bull ride smooth.
Take it easy
geez wormie showed you tht 11 days ago , its my quarterly pivot lol, hope you been doing well bro
  • #221,595
  • Apr 27, 2010 3:04am Apr 27, 2010 3:04am
Certainly wrong with my view that 5420 wouldn't be broken before the news, but hey, thats 110 pips for the day so time to start buying up longs.

First at 5378 next at 5348 see where that takes us.

Got a feeling that it might end up being a 200 pip day if GBP news isn't great for sterling
  • #221,596
  • Apr 27, 2010 3:05am Apr 27, 2010 3:05am
Quoting kill56
is that our next target lets wait and see i might be wrong
Thanks for your chart. Whats is the next target for this week?

Pham.
  • #221,597
  • Apr 27, 2010 3:09am Apr 27, 2010 3:09am
Quoting OldReigatian
Certainly wrong with my view that 5420 wouldn't be broken before the news, but hey, thats 110 pips for the day so time to start buying up longs.

First at 5378 next at 5348 see where that takes us.

Got a feeling that it might end up being a 200 pip day if GBP news isn't great for sterling
If I made 110 pips everytime I was wrong, I'd be very happy.

Nice one

Dazzer
  • #221,598
  • Apr 27, 2010 3:12am Apr 27, 2010 3:12am
Here's a question for the full time traders here.

I'd be happy making £200 a day. At the moment I'm only trading £2 per point as I'm not yet good enough to risk more.
Those traders who make 50-100 pips per day, what would you say is the best method: aim for 100 pips @ £2 or aim for 20 pips at £10 per pip. The point being, it is easier to consistently make 20 pips per day than 100.

Any thoughts?
  • #221,599
  • Apr 27, 2010 3:15am Apr 27, 2010 3:15am
Quoting Pham
Thanks for your chart. Whats is the next target for this week?

Pham.

man i will take hour by hour with greece on line any thing could happen
  • #221,600
  • Apr 27, 2010 3:17am Apr 27, 2010 3:17am
Quoting The Magician
Here's a question for the full time traders here.

I'd be happy making £200 a day. At the moment I'm only trading £2 per point as I'm not yet good enough to risk more.
Those traders who make 50-100 pips per day, what would you say is the best method: aim for 100 pips @ £2 or aim for 20 pips at £10 per pip. The point being, it is easier to consistently make 20 pips per day than 100.

Any thoughts?
Depending on equity, but it's always easier to manage 2quid/pip trades than 10quid/pip at the mentioned targets. 20-30 pips whipsaw is very common, hence the wide target, wide stop trades allows easier withdrawal from potentially bad trades because of the slower pace.
Thank You
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