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Cable Update (GBPUSD)

  • #226,661
  • May 14, 2010 10:56am May 14, 2010 10:56am
closed my shorts at 4506.

Dont get greedy folks!


Bulls Make Money, Bears Make Money, Pigs Get Slaughtered!
  • #226,662
  • May 14, 2010 11:06am May 14, 2010 11:06am
After having the worst trading week I have ever had I am still skeptical. With 17 days left in this month and the Big boys getting ready for their 6 month vacations I can not help but think we will be turning up soon. One only needs to look at the Monthly and see the UTL has barely been breeched, and we could still see a long term bounce here. The Daily and 4 hr are showing signs of Double bottom type formations. I want to congratulate those who stuck with the downers and I will chalk it up under the definition of trading. Time will tell and I am long for the rest of the day. Below is the basis for this post.

Jim
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  • #226,663
  • May 14, 2010 11:06am May 14, 2010 11:06am
I agree, but probably not until next week! and, I could be wrong too!

my experience with friday afternoons (US time) has generally been that price wanders aimlessly, losely based on stock market movement, but without more volume the correlation breaks down. a you can probably scalp some voodoo boodoo here and there!

if a huge bunch of volume comes in for some unforeseen reason, it can move, though...

Quoting kill56
london and franky are closed now lets see i think its a matter of time


as u know i might be wrong
"The real genius is knowing when to stop." - Marc Faber
  • #226,664
  • May 14, 2010 11:09am May 14, 2010 11:09am
Jim, correct me if I am wrong, but you are a perpetual bull, aren't you! therefore odds are stacked against you in this market.

I would advise people not to forget what is sometimes called the "Halloween Indicator" -- Sell in May then Go Away!

seems to work out similarly year after year.

Quoting Nene
After having the worst trading week I have ever had I am still skeptical. With 17 days left in this month and the Big boys getting ready for their 6 month vacations I can not help but think we will be turning up soon. One only needs to look at the Monthly and see the UTL has barely been breeched, and we could still see a long term bounce here. The Daily and 4 hr are showing signs of Double bottom type formations. I want to congratulate those who stuck with the downers and I will chalk it up under the definition of trading. Time will tell and I am...
"The real genius is knowing when to stop." - Marc Faber
  • #226,665
  • May 14, 2010 11:14am May 14, 2010 11:14am
Quoting hhitch
Jim, correct me if I am wrong, but you are a perpetual bull, aren't you! therefore odds are stacked against you in this market.

I would advise people not to forget what is sometimes called the "Halloween Indicator" -- Sell in May then Go Away!

seems to work out similarly year after year.
I have the "Figdicator", follow me, you'll be sorry!

Even a full on bear attack can be stopped by me putting a short on
Back to basics, it has to be for me!
  • #226,666
  • May 14, 2010 11:15am May 14, 2010 11:15am
Quoting Nene
After having the worst trading week I have ever had I am still skeptical. With 17 days left in this month and the Big boys getting ready for their 6 month vacations I can not help but think we will be turning up soon. One only needs to look at the Monthly and see the UTL has barely been breeched, and we could still see a long term bounce here. The Daily and 4 hr are showing signs of Double bottom type formations. I want to congratulate those who stuck with the downers and I will chalk it up under the definition of trading. Time will tell and I am...
Cheers Jim. I'm thinking the same. Closed most of my shorts now and will be looking for good long entries soon. All depending on PA of course, and obviously I might be horrible wrong (not uncommon lol)!

Made some great 6-8am this morning, then had to go out for the day. Wish I'd left my shorts running!
  • #226,667
  • May 14, 2010 11:15am May 14, 2010 11:15am
Quoting BadTradingFi
I have the "Figdicator", follow me, you'll be sorry!

Even a full on bear attack can be stopped by me putting a short on

LOL!!! - I often suffer the same symptoms lol!
  • #226,668
  • May 14, 2010 11:17am May 14, 2010 11:17am
Quoting hhitch
Jim, correct me if I am wrong, but you are a perpetual bull, aren't you! therefore odds are stacked against you in this market.

I would advise people not to forget what is sometimes called the "Halloween Indicator" -- Sell in May then Go Away!

seems to work out similarly year after year.
thats hit and run bro i wish all luck but we are going through big time correction


keep an eye on the dow and dixy
  • #226,669
  • May 14, 2010 11:22am May 14, 2010 11:22am
Quoting kill56
thats hit and run bro i wish all luck but we are going through big time correction


keep an eye on the dow and dixy
imo
  • #226,670
  • May 14, 2010 11:54am May 14, 2010 11:54am
Quoting kill56
thats hit and run bro i wish all luck but we are going through big time correction


keep an eye on the dow and dixy

Yes we are, fibre at the Oct 08 low, cable approaching the April 09 low. This has been an interesting couple of weeks of trading, large daily ranges and good long traunches of 100 pip or so each to be found a few times each day. The london breaks have been extremely profitable in the last few weeks and just simply following the trend day by day and not trying to pick the bottoms and anticipate fake reversals has served me well.

I am flat all pairs and am going to enjoy the weekend, may see you guys at Sydney open on Sunday. BTW, she has some momentum left to the upside today.
  • #226,671
  • May 14, 2010 12:22pm May 14, 2010 12:22pm
Quoting cloggie
Yes we are, fibre at the Oct 08 low, cable approaching the April 09 low. This has been an interesting couple of weeks of trading, large daily ranges and good long traunches of 100 pip or so each to be found a few times each day. The london breaks have been extremely profitable in the last few weeks and...

the horse still wild u need to know how to ride u been a good rider bro

enjoy the week end

lets see where the market close
  • #226,672
  • May 14, 2010 12:36pm May 14, 2010 12:36pm
i did add 1ema and 4ema to the 1sec voodoo i am testing
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  • #226,673
  • May 14, 2010 12:51pm May 14, 2010 12:51pm
Quoting Nene
After having the worst trading week I have ever had I am still skeptical. With 17 days left in this month and the Big boys getting ready for their 6 month vacations I can not help but think we will be turning up soon. One only needs to look at the Monthly and see the UTL has barely been breeched, and we could still see a long term bounce here. The Daily and 4 hr are showing signs of Double bottom type formations. I want to congratulate those who stuck with the downers and I will chalk it up under the definition of trading. Time will tell and I am...
i hope u r right.
  • #226,674
  • May 14, 2010 12:58pm May 14, 2010 12:58pm
Quoting kill56
the horse still wild u need to know how to ride u been a good rider bro

enjoy the week end

lets see where the market close
Will do, I was reckoning on a close at the days' open, but looks like she may just stay here. Who knows with volumes like we are having now. Or rather lack thereof
  • #226,675
  • May 14, 2010 2:11pm May 14, 2010 2:11pm
i might be wrong but we are looking for 14000 next week
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  • #226,676
  • May 14, 2010 2:21pm May 14, 2010 2:21pm
Hello traders,

I can only trade full time two days per week. I was wondering which two days are the best, as far as volatility & volume goes.

Any suggestions?

Thanks!
  • #226,677
  • May 14, 2010 2:23pm May 14, 2010 2:23pm
Quoting startovernow
Hello traders,

I can only trade full time two days per week. I was wondering which two days are the best, as far as volatility & volume goes.

Any suggestions?

Thanks!
Wednesday & Thursday would get my vote .. or Tues & Thursday
******************* I'd rather make money than be right.
  • #226,678
  • May 14, 2010 2:25pm May 14, 2010 2:25pm
Quoting startovernow
Hello traders,

I can only trade full time two days per week. I was wondering which two days are the best, as far as volatility & volume goes.

Any suggestions?

Thanks!

leave friday and pic any 2 days all are fine
  • #226,679
  • May 14, 2010 2:45pm May 14, 2010 2:45pm
Quoting 4xStar
Wednesday & Thursday would get my vote .. or Tues & Thursday

Quoting kill56
leave friday and pic any 2 days all are fine
Thanks much!
  • #226,680
  • May 14, 2010 3:20pm May 14, 2010 3:20pm
hey man I really would agree due to the fact that it's hanging around the lows at the end of the week. might be an end of day friday low but man momentum is sure down. looks like it's consolidating for a big push below last week's low.

have a good w/e!

h.

Quoting kill56
i might be wrong but we are looking for 14000 next week
"The real genius is knowing when to stop." - Marc Faber
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