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Cable Update (GBPUSD)

  • #231,901
  • Jun 16, 2010 2:24pm Jun 16, 2010 2:24pm
Quoting USD-Bear
Damn, good idea bad execution, the story of my life.......
I think it would further bearish, all the past three BOE Gov King Speeches have forced a down trend. Lots of analysis i have read have suggested massive correction. So it wouldnt be a bad idea to go short.

But then again, who knows?
  • #231,902
  • Jun 16, 2010 2:27pm Jun 16, 2010 2:27pm
I agree with 4XStar of course,but you should also look into ibfx and oanda.I use them and although ibfx has pretty big spreads (4 pips on cable,2 on fibre),they have no minimums in order to open an account.Well $1 if you wanna be technical.A big advantage is that you can trade any size you want in regards to the amount of available margin. The downside for Oanda is they don't have mt4, and I've heard that they manipulate prices.Wouldn't suprise me one bit.I only use them to scalp fibre one pip per trade because the spread for fibre is only 0.9.I have compared the candlestick charts from them and my ibfx and you can see a slight difference sometimes. Really noticed it when I placed a trade with oanda and the pa wen't against me,but on my ibfx mt4 chart the pa wen't 3 pips for me.

I'm not trying to be some big promoter of these two,just trying to give you some options. When I have more in my balance I'll probably be moving over to MB Trading. I hear great things about them. Just my 2 cents.

Quoting Buitragojl
Well insufficient margin is all i get when i try to make a entry so i guess thats it for me my 3rd time losing. Good luck to you guys. Guess ill be that dirty hispanic guy working out in the sun for the rest of my life.... Forex has been like my ex girlfriend i put alot into and get nothing out of it. 4 yrs passing up going to the bar/ club to read and research and demo im going to get a sharpie and write forex all over me then slit my wrist and lay in the bathtub

LOL j/k. Its very disapointing but i guess ill save for another 3...
  • #231,903
  • Jun 16, 2010 2:33pm Jun 16, 2010 2:33pm
I sold the gbp/usd at 1.47799 as it broke the uptrend to the downside. Target 50 pips.
Attached Image (click to enlarge)
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  • #231,904
  • Jun 16, 2010 2:34pm Jun 16, 2010 2:34pm
Thinking of adding new longs... hoping the pivot @ 1.4773 will hold.

We broke up in s&p, now we just need to see if support turns to resistance?

I`m pretty sure we will see more upside, but, is now the time or should i wait a little more?

Other thoughts?
  • #231,905
  • Jun 16, 2010 2:40pm Jun 16, 2010 2:40pm
Quoting qaisf
short @ 4831 still in the trade...
do u know why its drop more than fiber? Thank you
  • #231,906
  • Jun 16, 2010 2:45pm Jun 16, 2010 2:45pm
Quoting alexandru987
Thinking of adding new longs... hoping the pivot @ 1.4773 will hold.

We broke up in s&p, now we just need to see if support turns to resistance?

I`m pretty sure we will see more upside, but, is now the time or should i wait a little more?

Other thoughts?
im waiting 800 to re-short
Verily, in every difficulties there is relief
  • #231,907
  • Jun 16, 2010 2:50pm Jun 16, 2010 2:50pm
Quoting primzvicious
im waiting 800 to re-short
re-shorted @802 sl @BE
Attached Image (click to enlarge)
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Verily, in every difficulties there is relief
  • #231,908
  • Jun 16, 2010 2:51pm Jun 16, 2010 2:51pm
Locked and loaded with a hair trigger.
That was fun.... 30 pips in 30 seconds.

Down from the 'open' back to the 'pivot'.


Dr. D.
  • #231,909
  • Jun 16, 2010 2:56pm Jun 16, 2010 2:56pm
Quoting fourxtrader
Locked and loaded with a hair trigger.
That was fun.... 30 pips in 30 seconds.

Down from the 'open' back to the 'pivot'.


Dr. D.
i just posted when i made entry and suddenly it blinked lol
Verily, in every difficulties there is relief
  • #231,910
  • Jun 16, 2010 2:57pm Jun 16, 2010 2:57pm
There goes the gbp/usd giving us a nice profit to the downside as predicted :-)
  • #231,911
  • Jun 16, 2010 2:59pm Jun 16, 2010 2:59pm
Quoting Ineedpips9
I agree with 4XStar of course,but you should also look into ibfx and oanda.I use them and although ibfx has pretty big spreads (4 pips on cable,2 on fibre),they have no minimums in order to open an account.Well $1 if you wanna be technical.A big advantage is that you can trade any size you want in regards to the amount of available margin. The downside for Oanda is they don't have mt4, and I've heard that they manipulate prices.Wouldn't suprise me one bit.I only use them to scalp fibre one pip per trade because the spread for fibre is only 0.9.I...
Thanks i just got back from work and ill be spending my evening looking into all these brokers starting new demo accounts im 26 now hopefully im not 62 on this forum saying ive tried 59 times but i will if i have to. Come Rain, sleet, snow,cats, dogs, hail or anything else that could fall out the sky!
"Pippin aint easy"
  • #231,912
  • Jun 16, 2010 3:05pm Jun 16, 2010 3:05pm
Quoting primzvicious
re-shorted @802 sl @BE
closed @735...
Verily, in every difficulties there is relief
  • #231,913
  • Jun 16, 2010 3:06pm Jun 16, 2010 3:06pm
My target as been reached in about 30 mins or so. As i posted my entry, Here is a chart showing my exit with price reaching my profit target.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbp1.gif Size: 32 KB
  • #231,914
  • Jun 16, 2010 3:07pm Jun 16, 2010 3:07pm
Hi Guys,

On the weekly charts you can see a clear picture of what may be happening, pull back to 50% fib, clear as a bell.

Question is where will it close later, if we stay under 1.4788 this could just be classed as a pull back from the main trend.

We havent broken the weekly or daily trendline, so still down trend, i must admit i thought we have been stamping out a bottom. Just play the lines are the rules.

If we close above 1.4788 prehaps we might try the 61.8 fib, but also that is roundabout where the trendline is. A clear break of that trendline and we are more than likely call for longs.

In summary i think that trendline and 1.4788 are going to play a big role in direction.

Intraday

Cams have been a bit choppy and unclear. Still nice trades from h3 to l3 and back.
Attached Image (click to enlarge)
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I need to finish something i started
  • #231,915
  • Jun 16, 2010 3:10pm Jun 16, 2010 3:10pm
Quoting primzvicious
closed @735...

Great job!
  • #231,916
  • Jun 16, 2010 3:10pm Jun 16, 2010 3:10pm
Alert alert....h&s h&s h&s
  • #231,917
  • Jun 16, 2010 3:14pm Jun 16, 2010 3:14pm
Quoting fourxtrader
Great job!
thx...

hope other member in green too
Verily, in every difficulties there is relief
  • #231,918
  • Jun 16, 2010 3:15pm Jun 16, 2010 3:15pm
Well done to you guys who were in for that drop.
I need to finish something i started
  • #231,919
  • Jun 16, 2010 3:19pm Jun 16, 2010 3:19pm
my update
http://www.forexfactory.com/showthre...42#post3807342
  • #231,920
  • Jun 16, 2010 3:21pm Jun 16, 2010 3:21pm
missed the train waiting for a retrace if and when that happens
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