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Cable Update (GBPUSD)

  • #222,661
  • Apr 29, 2010 9:46am Apr 29, 2010 9:46am
Quoting cloggie
Trade is still within the SL, not closing it manually, that's where SL's are for. SL is 5285
looking to short at 80 with a tight s/l at 90, just for a 20 pip scalp to 60...

High Propability trade with nice RR
@pawpaw1000 on Twitter
  • #222,662
  • Apr 29, 2010 9:48am Apr 29, 2010 9:48am
Quoting pawpaw1000
looking to short at 80 with a tight s/l at 90, just for a 20 pip scalp to 60...

High Propability trade with nice RR

Yeah, M5 is telling me it's probablly going to hit my stop. As long as we don't set a higher high for the day, I'm still OK.
  • #222,663
  • Apr 29, 2010 9:48am Apr 29, 2010 9:48am
Quoting pawpaw1000
looking to short at 80 with a tight s/l at 90, just for a 20 pip scalp to 60...

High Propability trade with nice RR
my thoughts exactly - well, I'm thinking of half lot at 85, then another half lot if it tries 5300, SL above the 00
  • #222,664
  • Apr 29, 2010 9:52am Apr 29, 2010 9:52am
Quoting cloggie
Yeah, M5 is telling me it's probablly going to hit my stop. As long as we don't set a higher high for the day, I'm still OK.
dunno, I'd say there is a 60% chance its gonna hit your stop seeing as it'll propably move a bit higher than last high. We surely can go much higher seein as we have 120pips plus resistance plus me shorting
@pawpaw1000 on Twitter
  • #222,665
  • Apr 29, 2010 9:52am Apr 29, 2010 9:52am
looks like it wants to go 1.5320?
We are the TREND. Resistance is futile...
  • #222,666
  • Apr 29, 2010 9:52am Apr 29, 2010 9:52am
im long the 4hr stoch/rsi and macd look like theve had a double dose of viagra
  • #222,667
  • Apr 29, 2010 9:52am Apr 29, 2010 9:52am
Quoting tundeakins
Any body buying cable now? And if yes. Where are you putting your TP?

http://www.nataliedee.com/081206/me-n-teepee.jpg
  • #222,668
  • Apr 29, 2010 9:53am Apr 29, 2010 9:53am
Quoting TheCatsPJs
is everyone here long now? im still short with a stop loss just above the day high wondering if i should cut and run and come back another day
+

my advice to you would be to stick a stop at 95 which would be 11pips from your entry and hope it turns

I said early in the day that we would most likely get quick run down to entice more bears and then reverse quickly but 80 has been strong resistance area thus far and may hold today, given that we already traveled 130 pips up.

if your step gets hit its only 11pips but there is potential to revisit lower so your RR is pretty good

EDIT: in fact we could see 1.52 actually being tested today...
  • #222,669
  • Apr 29, 2010 9:54am Apr 29, 2010 9:54am
Quoting The Magician
my thoughts exactly - well, I'm thinking of half lot at 85, then another half lot if it tries 5300, SL above the 00
Sounds like a better Idea, Maybe I'll do that...
@pawpaw1000 on Twitter
  • #222,670
  • Apr 29, 2010 9:56am Apr 29, 2010 9:56am
Quoting lexazver
+

my advice to you would be to stick a stop at 95 which would be 11pips from your entry and hope it turns

I said early in the day that we would most likely get quick run down to entice more bears and then reverse quickly but 80 has been strong resistance area thus far and may hold today, given that we already traveled 130 pips up.

if your step gets hit its only 11pips but there is potential to revisit lower so your RR is pretty good
Good advice cheers big man my stop is at 88 so ill leave it there for now and manage it manually Gl to you buddy
Trade what you see never what you think!
  • #222,671
  • Apr 29, 2010 9:57am Apr 29, 2010 9:57am
Quoting TheCatsPJs
is everyone here long now? im still short with a stop loss just above the day high wondering if i should cut and run and come back another day
There is no real volume behind this rise. I would stick it out. I am and so is Cloggie. You saw the signal to sell, set your SL to a level which should only be a small percentage of your total pot. Sometimes we get it wrong, but I do think we are ranging and we will get back to the daily pivot at some point. I could be wrong, but you have your own mind to make your own decisions.
  • #222,672
  • Apr 29, 2010 10:02am Apr 29, 2010 10:02am
Quoting bbakker
There is no real volume behind this rise. I would stick it out. I am and so is Cloggie. You saw the signal to sell, set your SL to a level which should only be a small percentage of your total pot. Sometimes we get it wrong, but I do think we are ranging and we will get back to the daily pivot at some point. I could be wrong, but you have your own mind to make your own decisions.
the question is if NY is gonna push it through in 30min when London closes???
@pawpaw1000 on Twitter
  • #222,673
  • Apr 29, 2010 10:02am Apr 29, 2010 10:02am
Got a pending sell at 5385, looks like it might be running out of steam early though?
  • #222,674
  • Apr 29, 2010 10:03am Apr 29, 2010 10:03am
Quoting bbakker
There is no real volume behind this rise. I would stick it out. I am and so is Cloggie. You saw the signal to sell, set your SL to a level which should only be a small percentage of your total pot. Sometimes we get it wrong, but I do think we are ranging and we will get back to the daily pivot at some point. I could be wrong, but you have your own mind to make your own decisions.
I still have 5211 in mind but only time will tell thanks for your support mate nice to see i am not alone hahahah had a good morning but i have given it all back in afternoons before and once bitten twice shy so need to be careful not to over analyse the situation
Good Luck to you and thanks for your response.
Trade what you see never what you think!
  • #222,675
  • Apr 29, 2010 10:03am Apr 29, 2010 10:03am
Quoting The Magician
Got a pending sell at 5385, looks like it might be running out of steam early though?
got the same order and seeing the same thing... We will see in 30min time...
@pawpaw1000 on Twitter
  • #222,676
  • Apr 29, 2010 10:06am Apr 29, 2010 10:06am
Hope London close will see this drop. low volume rise, strong resistance etc. Just hope it gets up to my trigger!!
  • #222,677
  • Apr 29, 2010 10:09am Apr 29, 2010 10:09am
reversed trade - took profit and now short at 5271 and looking for beer money only...

FTSE ETF 'EWU' up 1% which is ok considering BP is off 5%

spill will cost 1 billion (tax deductible)

BP market cap 167 billion
  • #222,678
  • Apr 29, 2010 10:10am Apr 29, 2010 10:10am
Quoting The Magician
Hope London close will see this drop. low volume rise, strong resistance etc. Just hope it gets up to my trigger!!
reckon it will, but if it dont, nothing lost...
@pawpaw1000 on Twitter
  • #222,679
  • Apr 29, 2010 10:17am Apr 29, 2010 10:17am
This is an EW count from April 26th to now showing that cable has a little more room left for its correction before it resumes the downtrend. Minimum corrective wave count has been satisfied so now it should turn around soon (corrective potential limits on the chart and zoom in to view the count). Should turn around 1.5355 area if it gets that far.
Comments are welcome.

Attached Image (click to enlarge)
Click to Enlarge Name: april 29 - gu - wave count.jpg Size: 243 KB
  • #222,680
  • Apr 29, 2010 10:20am Apr 29, 2010 10:20am
heh my long not liking what is hapening )
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