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Cable Update (GBPUSD)

  • #239,801
  • Jul 21, 2010 3:00am Jul 21, 2010 3:00am
now the chart looks like this...

Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 34 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,802
  • Jul 21, 2010 3:01am Jul 21, 2010 3:01am
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 is Take Profit point, or trade closing price, I dont know what dp is.
  • #239,803
  • Jul 21, 2010 3:02am Jul 21, 2010 3:02am
Quoting kengur
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
that wasnt a broker that someone..showing who is boss

broker cannot move market like that
  • #239,804
  • Jul 21, 2010 3:03am Jul 21, 2010 3:03am
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...
Remember last night we were just talking about what no news or not important news does to trading days?
Don't be emo... don't be emo....
  • #239,805
  • Jul 21, 2010 3:03am Jul 21, 2010 3:03am
Quoting nAVIN2007
the interesting thing is buyer position (majority) didnt get liquidated that tells me plenty is swinging u get me!
when the currency of a MAJOR sovereign country starts to act like a cheap penny stock...that, my friend, ought to get one thinking!
Hear the music before the song is over ...
  • #239,806
  • Jul 21, 2010 3:04am Jul 21, 2010 3:04am
Hey purple go to search and type it in. Another great place to go to learn for free is www.babypips.com
Quoting Purple
TP is Take Profit point, or trade closing price, I dont know what dp is.
  • #239,807
  • Jul 21, 2010 3:05am Jul 21, 2010 3:05am
Quoting GlobalMacro
when the currency of a MAJOR sovereign country starts to act like a cheap penny stock...that, my friend, ought to get one thinking!
that one got me chuckling!
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,808
  • Jul 21, 2010 3:06am Jul 21, 2010 3:06am
Going short as of 5315...
  • #239,809
  • Jul 21, 2010 3:06am Jul 21, 2010 3:06am
Quoting kengur
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
Forget it..... Brokers haven't the fire power to move the market in such a fashion. Nor would they place their balance sheets at risk on such a move, at a time when London has joined the show. Furthermore, set against the size of the market, nobody cares about the positions of retail guys. I promise.

I've heard this was a fat-fingered trade order that caused the drop....
  • #239,810
  • Jul 21, 2010 3:06am Jul 21, 2010 3:06am
Quoting GlobalMacro
when the currency of a MAJOR sovereign country starts to act like a cheap penny stock...that, my friend, ought to get one thinking!
no doubt..we are heading for tough times no doubt..crazy times i feel
  • #239,811
  • Jul 21, 2010 3:07am Jul 21, 2010 3:07am
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...
Yeah
  • #239,812
  • Jul 21, 2010 3:09am Jul 21, 2010 3:09am
Who cares why it moved like it did, as a tech trader I concern myself with the explanation that there were more buyers than sellers or more sellers than buyers, that is all I need to know...with volatility comes opportunity..

G/L
ex member
  • #239,813
  • Jul 21, 2010 3:09am Jul 21, 2010 3:09am
TP hit @ 1.5330 ! +95pips if i wasnt stop out.
  • #239,814
  • Jul 21, 2010 3:10am Jul 21, 2010 3:10am
Quoting nAVIN2007
no doubt..we are heading for tough times no doubt..crazy times i feel
Summer Time
  • #239,815
  • Jul 21, 2010 3:11am Jul 21, 2010 3:11am
Quoting bbmac
Who cares why it moved like it did, as a tech trader I concern myself with the explanation that there were more buyers than sellers or more sellers than buyers, that is all I need to know...with volatility comes opportunity..

G/L
Of course people care and wonder why such a violent swing occurred.... It triggers a natural human curiosity, if nothing else.

Others also know with volatility comes opportunity.
  • #239,816
  • Jul 21, 2010 3:13am Jul 21, 2010 3:13am
Okay.. don't follow this, but I have a play....

Right now price has retraced back to the 200 SMA. Here are the scenarios...

1. If price bounces from here, I will enter at 1.53373 with a SL below the low of the current bar.

2. If my trade does not trigger and this current bar closes above the 200 SMA, I will use the high extreme of this bar to enter and the low extreme as my SL

Speaking 1HR bars here now.

If this bar closes below the 200SMA, than these trades are off, and I look for the same sort of 200SMA rejections going to the short side.

For now, going to wait paitently
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,817
  • Jul 21, 2010 3:14am Jul 21, 2010 3:14am
Quoting bbmac
Who cares why it moved like it did, as a tech trader I concern myself with the explanation that there were more buyers than sellers or more sellers than buyers, that is all I need to know...with volatility comes opportunity..

G/L
Oh, please...just give me a break will you...you oughtta know better than that.
Hear the music before the song is over ...
  • #239,818
  • Jul 21, 2010 3:15am Jul 21, 2010 3:15am
Quoting gammase1
Of course people care and wonder why such a violent swing occurred.... It triggers a natural human curiosity, if nothing else.

Others also know with volatility comes opportunity.
hi paul nice to see u around
  • #239,819
  • Jul 21, 2010 3:18am Jul 21, 2010 3:18am
I looking @ shorting GU if BoE dissapoint.

Ingoring the long wick down on the last candle.
BoE dissapoint, price move down and egulf the last H4 candle.
We will have a classic dark cloud cover which reject 50% retracement.(look at the red fibo line).
Attached Image
  • #239,820
  • Jul 21, 2010 3:20am Jul 21, 2010 3:20am
Most likely Rabo bank (Dutch Farmers bank)
Algo crash
All their positions SL
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