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Cable Update (GBPUSD)

  • #226,361
  • May 13, 2010 10:44am May 13, 2010 10:44am
Quoting allserene
spooky - it's a mudslide for cable -my son would call it a cerlapce in sterling but his mother taught him to spell - so that explains that

Ok guys grab a mirror and pick your bottom

lol had me read that twice alan
Thank You
  • #226,362
  • May 13, 2010 10:55am May 13, 2010 10:55am
Quoting wormboy
almost had me too tbh as I my short trade was already placed in yesterday at sydney open. got the quotes from our cb sterling closed almost -3cts at lo, thought might just be the same with cable. good thing that fakey stopped dead at dp. so far so good. still holding short, partial profit had been booked. Leaving remaining for 4550 level if possible.
I got fibre dead on 38.2% fib level atm, if this goes might not retrace clogs. But that's just speculating, pressure...

I gave up on that retrace on fibre happening, got some sneaky shorts out of the M1/M5 like kill would say, can't pass the pipe. On the Lo, got out with minimum damage, waited for franky line to pass, scalped the shorts till the consolidation and got in from there till 4673. Closed purely due to having had enough really. Scaled in nicely on the short cable and did rather well today. Daily ranges have been crazy lately, but we have some room left on the weekly for a repeat tomorrow. Let's see how the day closes tonight, not going to get suckered in twice tomorrow on the LO.

It has been a mad couple of weeks with some serious money to be had. ADR's like these remind me of early 08 and look how many fortunes were made and lost then in a very short amount of time. I closed all my long term trades on Cable and only daytrade until we have some sense of normality again.

It is decision time on the weekly and monthly, getting close to the May 09 low, same for Fibre close to crucial support on the weekly and monthly.
  • #226,363
  • May 13, 2010 10:56am May 13, 2010 10:56am
oh well got out at 1.4650. I wasn't quite fast enough to get out when it tagged 1.4629 at the bottom of the run, and for better or worse just seems like everyone is taking profit here at the 70.7% line and there really isn't enough time before NY lunchtime to make it down to the 78.6%. although it still might

but for me, I think that marks the end of my trading week. another pretty decent week for me.

I wish everyone on this forum a happy weekend!

Kill have fun with lil' Kill! get some milk!

all my best everyone! c ya next week

h.
"The real genius is knowing when to stop." - Marc Faber
  • #226,364
  • May 13, 2010 11:04am May 13, 2010 11:04am
Quoting hhitch
oh well got out at 1.4650. I wasn't quite fast enough to get out when it tagged 1.4629 at the bottom of the run, and for better or worse just seems like everyone is taking profit here at the 70.7% line and there really isn't enough time before NY lunchtime to make it down to the 78.6%. although it still might

but for me, I think that marks the end of my trading week. another pretty decent week for me.

I wish everyone on this forum a happy weekend!

Kill have fun with lil' Kill! get some milk!

all my best everyone! c ya next week ...
enjoy have a great weekend take care bro
  • #226,365
  • May 13, 2010 11:06am May 13, 2010 11:06am
Mudslide it seems to be. I wasn't picking bottom but had to leave PC (mkt was running 4780), so placed a PO to buy at 4690 and allowed 260 pips from high for a SL at 4650. Obviously, not enough in this mudslide !

Are you teaching you Son, this biz ? Not afraid of competition !

Quoting allserene
spooky - it's a mudslide for cable -my son would call it a cerlapce in sterling but his mother taught him to spell - so that explains that

Ok guys grab a mirror and pick your bottom
  • #226,366
  • May 13, 2010 11:06am May 13, 2010 11:06am
Quoting hhitch
oh well got out at 1.4650. I wasn't quite fast enough to get out when it tagged 1.4629 at the bottom of the run, and for better or worse just seems like everyone is taking profit here at the 70.7% line and there really isn't enough time before NY lunchtime to make it down to the 78.6%. although it still might

but for me, I think that marks the end of my trading week. another pretty decent week for me.

I wish everyone on this forum a happy weekend!

Kill have fun with lil' Kill! get some milk!

all my best everyone! c ya next week ...
Have a good one, and thanks for the book and seminar suggestions from earlier.
  • #226,367
  • May 13, 2010 11:09am May 13, 2010 11:09am
looks like she's trying to retest.
  • #226,368
  • May 13, 2010 11:13am May 13, 2010 11:13am
cashed out at 4636 and getting back in after it bounces - if it does

I think we could be down to 42 ish if this goes on...and we haven't really had any bad stuff out of the UK - so lots of potential downside I reckon


eg

leak from the palace -- Queen quoted as saying - "these guys are idiots - we are all finished - I am off to live in Waziristan - وزیرستان,"
  • #226,369
  • May 13, 2010 11:17am May 13, 2010 11:17am
Quoting cloggie
I gave up on that retrace on fibre happening, got some sneaky shorts out of the M1/M5 like kill would say, can't pass the pipe. On the Lo, got out with minimum damage, waited for franky line to pass, scalped the shorts till the consolidation and got in from there till 4673. Closed purely due to having had enough really. Scaled in nicely on the short cable and did rather well today. Daily ranges have been crazy lately, but we have some room left on the weekly for a repeat tomorrow. Let's see how the day closes tonight, not going to get suckered in...
too true, i got 280 printed. been a while since we had something like this. long may it continue lol
yup, funny that you mentioned the W1, earlier in the week I put it up thinking the 76.4 fe was way off, but after it had tested the underside of the broken major ltl it seems to be headed that way @4350.
Check it out.

Chart1
Chart2

Test the extreme lows .. maybe ard the fe & come back up tomorrow ard 4770? . I like it dojistyle
Thank You
  • #226,370
  • May 13, 2010 11:18am May 13, 2010 11:18am
Quoting allserene
cashed out at 4636 and getting back in after it bounces - if it does

I think we could be down to 42 ish if this goes on...and we haven't really had any bad stuff out of the UK - so lots of potential downside I reckon


eg

leak from the palace -- Queen quoted as saying - "these guys are idiots - we are all finished - I am off to live in Waziristan - وزیرستان,"

thats a great one
  • #226,371
  • May 13, 2010 11:18am May 13, 2010 11:18am
http://img514.imageshack.us/img514/2811/lemmingsz.jpg
  • #226,372
  • May 13, 2010 11:27am May 13, 2010 11:27am
trif cartoon !

yes it is showing signs of a minor retrace - don't do it guys - don't be tempted to ride the retrace against the trend.

wait and wait and wait (that's 3 waits) - then take the elevator down again..
  • #226,373
  • May 13, 2010 11:56am May 13, 2010 11:56am
Quoting allserene
trif cartoon !

yes it is showing signs of a minor retrace - don't do it guys - don't be tempted to ride the retrace against the trend.

wait and wait and wait (that's 3 waits) - then take the elevator down again..
Agree allserene, I use 60 & 30 min for direction, 5 & 1 min to trade, according to 30 & 60 I can only go short atm. Caught 2 nice rides down on 3 pairs .. also using magix's new 1sc template for 1 min entries .. awesome
******************* I'd rather make money than be right.
  • #226,374
  • May 13, 2010 11:59am May 13, 2010 11:59am
I'm thinking it will go kiss the 200ma. Not sure if it will stay with the trend and head back down to retest, or continue it's upward move. Hoping the latter.
  • #226,375
  • May 13, 2010 12:04pm May 13, 2010 12:04pm
wow it touched the 200ema line exactly on the 1m - I popped a little short on - then it produced a nice red candle.
Looks like charties are there trading this market...but the big guns - what are they thinking...
  • #226,376
  • May 13, 2010 12:05pm May 13, 2010 12:05pm
Quoting 4xStar
Agree allserene, I use 60 & 30 min for direction, 5 & 1 min to trade, according to 30 & 60 I can only go short atm. Caught 2 nice rides down on 3 pairs .. also using magix's new 1sc template for 1 min entries .. awesome
nice. I've read a little of your thread 4xStar. Good stuff there. Just wondering what sessions you prefer.
Kill, how you doin today?Greenie been nice?
  • #226,377
  • May 13, 2010 12:06pm May 13, 2010 12:06pm
Quoting Ineedpips9
I'm thinking it will go kiss the 200ma. Not sure if it will stay with the trend and head back down to retest, or continue it's upward move. Hoping the latter.
Look on the M5 last Friday, bounced along this level for quite some time, off the 200ma a couple of times then went up.

Obviously different circumstances from then, but who knows...
Back to basics, it has to be for me!
  • #226,378
  • May 13, 2010 12:09pm May 13, 2010 12:09pm
Quoting allserene
wow it touched the 200ema line exactly on the 1m - I popped a little short on - then it produced a nice red candle.
Looks like charties are there trading this market...but the big guns - what are they thinking...
I'm hoping down so I can break even. Thought I had my trailing stop on , but i don't.Lesson learned: Pay attention jack*ss!!!
  • #226,379
  • May 13, 2010 12:12pm May 13, 2010 12:12pm
Quoting BadTradingFi
Look on the M5 last Friday, bounced along this level for quite some time, off the 200ma a couple of times then went up.

Obviously different circumstances from then, but who knows...

One of the big rules of trading cable: sell the rally. 'nough said
  • #226,380
  • May 13, 2010 12:13pm May 13, 2010 12:13pm
Quoting BadTradingFi
Look on the M5 last Friday, bounced along this level for quite some time, off the 200ma a couple of times then went up.

Obviously different circumstances from then, but who knows...
Yeah the 200 is always doing something. I hope it sends it back down so this last trade can be. My other trades are all good, but i'm upset over my absent-mindedness over this last trade.
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