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Cable Update (GBPUSD)

  • #233,181
  • Jun 23, 2010 4:40am Jun 23, 2010 4:40am
chart is locked!!! prepare to go down or more up humm big boys thinking
  • #233,182
  • Jun 23, 2010 4:40am Jun 23, 2010 4:40am
Why do I find it so damn hard to long this pair.....
Well waiting for 1.5*
Don't be a hero. Don't have an ego. Always question yourself
  • #233,183
  • Jun 23, 2010 4:53am Jun 23, 2010 4:53am
here we go.

good place to book partial profit and watch what happens here imho.
If the gbplfx close above the W1 res level, cable will see new highs.
But, if it fails like so many times previously, cable tanks.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 30 KB
Thank You
  • #233,184
  • Jun 23, 2010 4:56am Jun 23, 2010 4:56am
Quoting pressok
at least 1.5000
shit.
  • #233,185
  • Jun 23, 2010 5:05am Jun 23, 2010 5:05am
Quoting USD-Bear
Why do I find it so damn hard to long this pair.....
Well waiting for 1.5*
Because you are like me - Rational.
Buy low and sell high is the golden rule. Never buy at the high.

None of my shorts seem to stick though, they keep getting stopped out at break even. We'll hit the top eventually - Patience.
  • #233,186
  • Jun 23, 2010 5:05am Jun 23, 2010 5:05am
Quoting wormboy
here we go.

good place to book partial profit and watch what happens here imho.
If the gbplfx close above the W1 res level, cable will see new highs.
But, if it fails like so many times previously, cable tanks.

Good luck.
hi wormboy.. what do you mean by gbplfx? what is the lfx part?
  • #233,187
  • Jun 23, 2010 5:10am Jun 23, 2010 5:10am
Quoting jaylovin
hi wormboy.. what do you mean by gbplfx? what is the lfx part?
GBP INDEX..
  • #233,188
  • Jun 23, 2010 5:13am Jun 23, 2010 5:13am
Watch Out buddy, it will go down soon
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.JPG Size: 43 KB
  • #233,189
  • Jun 23, 2010 5:21am Jun 23, 2010 5:21am
Quoting PipVip
Because you are like me - Rational.
Buy low and sell high is the golden rule. Never buy at the high.

None of my shorts seem to stick though, they keep getting stopped out at break even. We'll hit the top eventually - Patience.
Buy low & sell high is rational. But shorting failure tops is irrational.

FO today had been easy pickings for longs. Check the bullish pennant on the H1 to see what I mean. And yes, I added to my longs pretty "high" too.
Trade:
1. http://www.forexfactory.com/showpost...postcount=7284
Thank You
  • #233,190
  • Jun 23, 2010 5:24am Jun 23, 2010 5:24am
Quoting mloistianto
GBP INDEX..
ahh. great thanks... i don't have access to the gbp index.. only dollar and euro... are you guys seeng this on an mt platform ?
  • #233,191
  • Jun 23, 2010 5:27am Jun 23, 2010 5:27am
Quoting jaylovin
hi wormboy.. what do you mean by gbplfx? what is the lfx part?
The liteforex index.

If you're interested, I suggest you spend more time in the daily candle thread, Husin Naiji & Bones do explain the usage of the lfx much better than I do.
Here is the link to the thread:
1. http://www.forexfactory.com/showthread.php?t=69786

You can learn heaps from the real masters there, beats reading the gibberish here

Good luck.
Thank You
  • #233,192
  • Jun 23, 2010 5:27am Jun 23, 2010 5:27am
Quoting wormboy
Buy low & sell high is rational. But shorting failure tops is irrational.
If you have a method that is highly predictive of a failure top *before* it fails, I'm very interested. Until then, I'll set my stops at break even. I am genuinely curious, and appreciative.
  • #233,193
  • Jun 23, 2010 5:28am Jun 23, 2010 5:28am
Quoting USD-Bear
Why do I find it so damn hard to long this pair.....
Well waiting for 1.5*
Because u are USD-Bear..
  • #233,194
  • Jun 23, 2010 5:32am Jun 23, 2010 5:32am
There is mutiny at the BoE

One member wanted to raise interest rates earlier this month because of 'stubborn inflation'. Here is the article showing a synopsis of the minutes of the meeting earlier this month.

http://news.bbc.co.uk/1/hi/business/10388674.stm
  • #233,195
  • Jun 23, 2010 5:33am Jun 23, 2010 5:33am
Quoting wormboy
The liteforex index.

If you're interested, I suggest you spend more time in the daily candle thread, Husin Naiji & Bones do explain the usage of the lfx much better than I do.
Here is the link to the thread:
1. http://www.forexfactory.com/showthread.php?t=69786

You can learn heaps from the real masters there, beats reading the gibberish here

Good luck.
lovely.. thanks very much
  • #233,196
  • Jun 23, 2010 5:33am Jun 23, 2010 5:33am
Quoting PipVip
If you have a method that is highly predictive of a failure top *before* it fails, I'm very interested. Until then, I'll set my stops at break even. I am genuinely curious, and appreciative.

You can browse thru my thread if you are interested. Almost every trade calls made are/were assisted with charts *before* they happen
I'm pretty sure you might find one or two things that are useful.
As for the long taken earlier, the bullish pennant on the H1 was all too visible & when it broke out it was a no brainer trade.
Thank You
  • #233,197
  • Jun 23, 2010 5:34am Jun 23, 2010 5:34am
COME ON ENGLAND, SHOW THE WORLD WHAT YOU ARE MADE OF!!!

My prediction is 2-0, even though I am Dutch, I still want England to progress!

Enjoy your trading! See you all soon!
  • #233,198
  • Jun 23, 2010 5:36am Jun 23, 2010 5:36am
Quoting Forextrader4
As a friendly advice, you shouldn't do anything right now. And even if you have a good reason to consider shorting, i suggest you don't because at this point traders have made their money and the move really isn't clear. Especially that we're within that 30-40mins from news. Even if the price goes down, don't feel bad that you could have made money selling, because at the end of the day i would call that gambling NOT trading, and you can only get lucky so many times before you get burned. Stay on the side and wait until the market is clear. Good...

Thanks .. i am on the sidelines ... i have not put the trade .. so will keep wathching for clear direction ...
  • #233,199
  • Jun 23, 2010 5:36am Jun 23, 2010 5:36am
Thanks for your perspective, and duly noted.
  • #233,200
  • Jun 23, 2010 5:40am Jun 23, 2010 5:40am
looks like nice place to try short, low risk,
I will be the number one Manager.
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