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Cable Update (GBPUSD)

  • #234,661
  • Jun 30, 2010 6:11am Jun 30, 2010 6:11am
Quoting Forextrader4
Yea i know, the thing is i only keep enough in my trading account to be able to make my 10k a month based on my money management plan. The maximum amount of lots i can take risking 3% of my account is 3 standard lots, which i rarely do that. Most of my trades are .50 - 1 standard lot which makes me my 10k monthly easily anyways.
, sounds crazy, when you make your first mill your understand, thats why i got in this business is to become a multi-millionaire. never limit yourself
  • #234,662
  • Jun 30, 2010 6:16am Jun 30, 2010 6:16am
1.52 is next..i think!
  • #234,663
  • Jun 30, 2010 6:18am Jun 30, 2010 6:18am
Quoting mr.m
1.52 is next..i think!
A chart would be nice, do you really think we are going to 52 from here?
  • #234,664
  • Jun 30, 2010 6:26am Jun 30, 2010 6:26am
Quoting cloggie
A chart would be nice, do you really think we are going to 52 from here?
based on the weekly time frame- becomes relevant since today is the last day of the month
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  • #234,665
  • Jun 30, 2010 6:31am Jun 30, 2010 6:31am
Quoting Bull_Bear
Nice bounce of 1.4980, but hang on to your shorts folks...1.4900 is my destination.
I'm with you B_B
May the forex be with you |
  • #234,666
  • Jun 30, 2010 6:33am Jun 30, 2010 6:33am
Quoting mr.m
based on the weekly time frame- becomes relevant since today is the last day of the month
That is a view I have posted here for weeks, however intraday, it is heading towards 49 before we see 52. Goes back to the heart of most discussions here, what TF's are we looking at.

So far it has been a fairly typical day, Franky gave us the fake, Lo gave us the drop, we had hardly a consolidation though and the fundies gave us the retrace, so London is picking up where it started and would now expect NY to set the low.
  • #234,667
  • Jun 30, 2010 6:42am Jun 30, 2010 6:42am
Quoting cloggie
That is a view I have posted here for weeks, however intraday, it is heading towards 49 before we see 52. Goes back to the heart of most discussions here, what TF's are we looking at.
perhaps 49 could happen before 52 but i still think before 49, atleast 51 is very very possible...i have setup my trade accordingly - will monitor the PA very closely around 51..but for now im long!
  • #234,668
  • Jun 30, 2010 6:45am Jun 30, 2010 6:45am
Quoting mr.m
perhaps 49 could happen before 52 but i still think before 49, atleast 51 is very very possible...i have setup my trade accordingly - will monitor the PA very closely around 51..but for now im long!

I have been long for weeks, does not mean that I am going to ignore the valid short setups in between. Each and everyone of us have our own strategy r/r and MM. For traders holding long term trades, yes this is a good point as any to load up the longs. For intraday traders, London gave us a valid break and as shorts are still valid until we have tested the bottom of the channel on my M30 chart I posted above I will continue to play both sides of the moves.

I just keep surfing the waves on the M5/15, wait for a consolidation, trade the break until the next range gets formed, get out, rinse and repeat. Keeps me busy throughout the day.

Today has seen 3 tests of the DP on M15, all failed and actually forming 3 lower resistances in the process. That does not give me great confidence in 51.
  • #234,669
  • Jun 30, 2010 6:52am Jun 30, 2010 6:52am
Quoting FXFundi
I'm with you B_B
Lets get there fisrt mate

Good luck
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,670
  • Jun 30, 2010 6:57am Jun 30, 2010 6:57am
Cameron was questioned today during PMQ on a leaked report that they are looking at an increase in unemployment of 1.3MM over the next 5 years. Two ways of looking at this, a nice little warning not to take any increase in unemployment figures in the future as bad news for the economy as they are planned, or sell the rumour now and buy the news later.
  • #234,671
  • Jun 30, 2010 7:01am Jun 30, 2010 7:01am
ADP in 15.
  • #234,672
  • Jun 30, 2010 7:15am Jun 30, 2010 7:15am
Quoting cloggie
ADP in 15.

That's no help for the bears today on the face of it.
  • #234,673
  • Jun 30, 2010 7:19am Jun 30, 2010 7:19am
Quoting cloggie
That's no help for the bears today on the face of it.
Don't worry abt the report for now clogs just follow the money mate.... the money says down.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,674
  • Jun 30, 2010 7:22am Jun 30, 2010 7:22am
Quoting Bull_Bear
Don't worry abt the report for now clogs just follow the money mate.... the money says down.

Been doing that all day, letting the fundies price in their bits and using it as an opportunity to get a better price for the shorts, posted targets of 4966 and 4953 earlier today and am still looking to reach those.
  • #234,675
  • Jun 30, 2010 7:28am Jun 30, 2010 7:28am
Quoting cloggie
Been doing that all day, letting the fundies price in their bits and using it as an opportunity to get a better price for the shorts, posted targets of 4966 and 4953 earlier today and am still looking to reach those.
Good targets, but i'm letting her run a little lower but thats me.

Good luck
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,676
  • Jun 30, 2010 7:34am Jun 30, 2010 7:34am
Quoting cloggie
Been doing that all day, letting the fundies price in their bits and using it as an opportunity to get a better price for the shorts, posted targets of 4966 and 4953 earlier today and am still looking to reach those.
Am looking for better price for shorting positions too...
Don't be emo... don't be emo....
  • #234,677
  • Jun 30, 2010 7:41am Jun 30, 2010 7:41am
Quoting drakes
Am looking for better price for shorting positions too...

We are testing the day's low, you may get your wish here.
  • #234,678
  • Jun 30, 2010 7:43am Jun 30, 2010 7:43am
Quoting cloggie
We are testing the day's low, you may get your wish here.
Yup, seeing it, waiting to see if it bounces or not..
Don't be emo... don't be emo....
  • #234,679
  • Jun 30, 2010 7:45am Jun 30, 2010 7:45am
Quoting drakes
Yup, seeing it, waiting to see if it bounces or not..
You'll get a consolidation at least, that should give you a clear picture whether we get a bounce or a continuation, just set the range on M5/15 and wait for the break.
  • #234,680
  • Jun 30, 2010 7:46am Jun 30, 2010 7:46am
Update, still in play, working the channel.

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