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Cable Update (GBPUSD)

  • #239,781
  • Jul 21, 2010 2:24am Jul 21, 2010 2:24am
Quoting damonl
I didn't even have time to react.. was making a journal entry, looked up and all I could to is gawk.
I had gotten out & was writing on here when I saw a scalp short & by the time I hit the button it dropped 50 pips & the next candle was 70 pips & i re entered long at 1.52 & i just closed
  • #239,782
  • Jul 21, 2010 2:24am Jul 21, 2010 2:24am
well our little dutch cable trader must be wondering what to do with his shorts under 1.5230.... ouch, he has to buy them back higher
should learn the tools first....

will we have the bank now coming back to the market to ask for some 'scratch trades'?
Catching a falling knife, no, I'm just trading the Gartley!
  • #239,783
  • Jul 21, 2010 2:26am Jul 21, 2010 2:26am
Quoting realjumper
Don't blame the broker man....spikes hit us all...it's part of the deal. Betcha someone else is laughing like a maniac at his good fortune
I heard the brokers had a meeting in Brussels to agree on the spike. I could have attended

Peace!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #239,784
  • Jul 21, 2010 2:28am Jul 21, 2010 2:28am
Cable will break yesterday daily CS, we will see 1.5350 ... currency rate gbp high over usd .......what happen whem MPC meeting ?
  • #239,785
  • Jul 21, 2010 2:35am Jul 21, 2010 2:35am
That is also one of the reasons I rarely like to trade right around the open times of the NY or Londone markets.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,786
  • Jul 21, 2010 2:38am Jul 21, 2010 2:38am
Quoting Honored
I had Tp at DP 1.5240 and it took that one easily. if that was a SL it would have slipped. Damn brokers...
I'm a new guy in forex, so who can tell me what does "tp" and "dp" mean in forex? thanks very much!
  • #239,787
  • Jul 21, 2010 2:39am Jul 21, 2010 2:39am
if monthly can close above 1.53..this will go higher
  • #239,788
  • Jul 21, 2010 2:43am Jul 21, 2010 2:43am
Quoting damonl
That is also one of the reasons I rarely like to trade right around the open times of the NY or Londone markets.
and now....we wait n see.....what happend after MPC meeting. Any idea fren?.....up or down????
  • #239,789
  • Jul 21, 2010 2:46am Jul 21, 2010 2:46am
Pretty bullish reaction to the reported 'dutch fatfinger' sell-off at the 1hr asc t/line..

G/L
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ex member
  • #239,790
  • Jul 21, 2010 2:46am Jul 21, 2010 2:46am
Quoting iskk_1
and now....we wait n see.....what happend after MPC meeting. Any idea fren?.....up or down????
No predictions with any certainty, though I am spying tweezzer tops on H1.. MIght be an indication of a down move, but never know how far down it will go.. maybe only one bar.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,791
  • Jul 21, 2010 2:47am Jul 21, 2010 2:47am
Quoting iskk_1
and now....we wait n see.....what happend after MPC meeting. Any idea fren?.....up or down????
in 45 mins you will have your answer
  • #239,792
  • Jul 21, 2010 2:48am Jul 21, 2010 2:48am
Quoting dvdsurplus
Thats the BOE saying "we run this shi*" hhaha I hope it goes long, i really do.
100+ pips drop in less than 50 seconds in forex the biggest freaking market on this planet....someone wanted to show who's the boss...
Hear the music before the song is over ...
  • #239,793
  • Jul 21, 2010 2:49am Jul 21, 2010 2:49am
Quoting Honored
$GBPUSD: Much conjecture regarding the 150-point dump, some saying it was a system miss-hit by an aggressive Dutch seller.
A fat finger, right. If you remotely think that is possible I have a really big clock to sell you. Although you now might know where the floor is.

Trade to trade well, no excuses.
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #239,794
  • Jul 21, 2010 2:50am Jul 21, 2010 2:50am
I was expecting my GU to disappoint the northerners 'cos I live in deep south, now I don't know again. Too bad
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Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #239,795
  • Jul 21, 2010 2:53am Jul 21, 2010 2:53am
Quoting nAVIN2007
i trade monthly, weekly charts so my stop is quite huge and my trades are always less than 1% risk..i also have a very good idea of what i do..i always go with the trend as well..

dont worry i know what im doing

the good news...if price can keep this 4hr up we got a fantastic idea of where she want to go ..hang tight!!!



doubt it unless this 4hr closes bearish
I agree with you nAVIN2007
  • #239,796
  • Jul 21, 2010 2:54am Jul 21, 2010 2:54am
Could be we are in the process of turning the corner and heading back into an hourly upward channel.....

Higher lower with some channel lines now starting to point back upwards...

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"Keep your eyes on the helpers" - Mr. Rogers
  • #239,797
  • Jul 21, 2010 2:56am Jul 21, 2010 2:56am
Spike came right back to the weekly trend line and made a nice 1,2 wave. Whatever the reason behind it, just look at the Technical part of it and trade what u see. 350 to 1.5400 would be a place to look short. With ur stop above the recent high. I see cable having one more leg up for new highs and then down. So I am looking for 1.5550 to 1.5650. Nice little shake out thou to set up longs....
  • #239,798
  • Edited 2:59am Jul 21, 2010 2:56am | Edited 2:59am
Quoting hexitiger
I'm a new guy in forex, so who can tell me what does "tp" and "dp" mean in forex? thanks very much!
TP = Profit Target / Target Point.
DP = Day Pivot . (find out what is Day pivot.)
  • #239,799
  • Jul 21, 2010 2:58am Jul 21, 2010 2:58am
we are going up...i smell these broker basterds, they wanted to get us out of our long positions so that they don=t loose money...I believe GBP is going up after the minutes
USD is on all pairs weakening
  • #239,800
  • Jul 21, 2010 2:58am Jul 21, 2010 2:58am
Quoting GlobalMacro
100+ pips drop in less than 50 seconds in forex the biggest freaking market on this planet....someone wanted to show who's the boss...

the interesting thing is buyer position (majority) didnt get liquidated that tells me plenty is swinging u get me!
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