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Cable Update (GBPUSD)

  • #240,861
  • Jul 26, 2010 6:58am Jul 26, 2010 6:58am
Quoting digger1
ha ha , at least we got the transactions made lol

It is good for the "newer" traders to see how some of the older ones change their play to adjust for range trading and don't set a silly target of 100 pips away until the range is broken and a trend materialises. And summer range trading is the worst of the bunch, but there is money to be made both ways. I am with you though, there is more money in the long plays today then the CT's
  • #240,862
  • Jul 26, 2010 6:59am Jul 26, 2010 6:59am
Quoting digger1
lol, been the other way , bought shortly after the open and every dip into my average band , took some nice profit up here at the highs and stps are in the money on the remaining so the day can play out however now lol
great stuff dig.
Thank You
  • #240,863
  • Jul 26, 2010 7:01am Jul 26, 2010 7:01am
Quoting cloggie
This is funny, we got digger and I buying the dips and Grashid and Wormy selling the tops. And guess what, all four of us are making money. Two of us are bout to get caught out by the break, and my money is still on the longs.
true. many ways to skin a cat I heard
as long as we all make some, whichever way we trade it off don't really matter.
Thank You
  • #240,864
  • Jul 26, 2010 7:02am Jul 26, 2010 7:02am
Quoting cloggie
That's funny, I kept buying of the support from 5472 and once 5481 formed, been buying of there. PA is still showing greater momentum on the upmoves and the 30 is still showing higher lows.

Just closed a long of 81, your turn Wormy and Grashid. I may start looking for shorts at 5527
  • #240,865
  • Jul 26, 2010 7:05am Jul 26, 2010 7:05am
Quoting Saxon
Any thoughts? Supported by WR1 DR2 and Fib
Guess not, well then, back to my own thread.....
  • #240,866
  • Jul 26, 2010 7:07am Jul 26, 2010 7:07am
Quoting cloggie
It is good for the "newer" traders to see how some of the older ones change their play to adjust for range trading and don't set a silly target of 100 pips away until the range is broken and a trend materialises. And summer range trading is the worst of the bunch, but there is money to be made both ways. I am with you though, there is more money in the long plays today then the CT's
The longs have been good so far today for sure. Summer trading is a pain , we have managed to get 3 up days on the gbpusd so anything is possible here lol
  • #240,867
  • Jul 26, 2010 7:08am Jul 26, 2010 7:08am
Quoting Saxon
Guess not, well then, back to my own thread.....

No disrespect Saxon, but if you go back a few pages you can see most of us discussing the range play just below resistance here and trading the bounces within. So your chart did not really needed a comment from us as we have been trading the thing all morning.
  • #240,868
  • Jul 26, 2010 7:08am Jul 26, 2010 7:08am
Quoting cloggie
Just closed a long of 81, your turn Wormy and Grashid. I may start looking for shorts at 5527
I'm done. closed the last one out @96.
Gonna stop now. The last 5500 break almost had me.

39 pips from the range @400k each. I don't care if it breaks out later.
My 20k short @4952 is covered
Attached Image (click to enlarge)
Click to Enlarge Name: m1.png Size: 42 KB
Thank You
  • #240,869
  • Jul 26, 2010 7:15am Jul 26, 2010 7:15am
Quoting cloggie
No disrespect Saxon, but if you go back a few pages you can see most of us discussing the range play just below resistance here and trading the bounces within. So your chart did not really needed a comment from us as we have been trading the thing all morning.
This was 20 min ago from you http://www.forexfactory.com/showpost...stcount=240872
  • #240,870
  • Jul 26, 2010 7:16am Jul 26, 2010 7:16am
Quoting Saxon
Guess not, well then, back to my own thread.....
Cable more like 61.8 and 38.2 on Fibonacci retracement's, but I think Cable could stop here technically, it could be second test of this resistance, so on the third must be a breakthroughm but not now.
  • #240,871
  • Jul 26, 2010 7:17am Jul 26, 2010 7:17am
Quoting Saxon
This was 20 min ago from you http://www.forexfactory.com/showpost...stcount=240872

And your point is? You threw your toys out of the pram because we did not agree with you and en masse shorted cable because you post a chart here with no further comments? Why would I short this in anticipation of a resistance when we still have higher lows on the 30? If 27 gets reached and if 27 gets rejected and if the rejection justifies a short, I will then change my bias, but sofar the longs still have it. Now if 27 does not get reached and once the PA tells me to short the bugger, I will be the first to join the bear party.

Here is another one a few minutes later:


Quote
Just closed a long of 81, your turn Wormy and Grashid. I may start looking for shorts at 5527
  • #240,872
  • Jul 26, 2010 7:25am Jul 26, 2010 7:25am
Quoting cloggie
And your point is? You threw your toys out of the pram because we did not agree with you and en masse shorted cable because you post a chart here with no further comments? Why would I short this in anticipation of a resistance when we still have higher lows on the 30? If 27 gets reached and if 27 gets rejected and if the rejection justifies a short, I will then change my bias, but sofar the longs still have it. Now if 27 does not get reached and once the PA tells me to short the bugger, I will be the first to join the...
After my chart...
  • #240,873
  • Jul 26, 2010 7:28am Jul 26, 2010 7:28am
Quoting Saxon
After my chart...

Here is one from 2 hours ago:

Quote
1.55 is not a good place to short cable right now.
So I guess your chart was about an hour too late buddy. Have fun at your own thread, am sure your noobie @rselickers will support you there.
  • #240,874
  • Jul 26, 2010 7:33am Jul 26, 2010 7:33am
Ping-Pong-Ping-Pong... No decision yet... Got bored already...

Anyway, the RSI shows that it is not yet overbought, I think that the pair may visit higher level today, IMO..
  • #240,875
  • Jul 26, 2010 7:34am Jul 26, 2010 7:34am
Technically it would be correct to go down on pound from current level's
http://1.bp.blogspot.com/_LbKfbdL8RY...0%BD%D1%82.gif
  • #240,876
  • Jul 26, 2010 7:36am Jul 26, 2010 7:36am
Quoting cloggie
Here is one from 2 hours ago:
lol, now you done it , kinda blows his theory of everyone here coming up with tgts from his chart lol
  • #240,877
  • Jul 26, 2010 7:43am Jul 26, 2010 7:43am
A doji is being formed in my 1H TF as of writing... Sign of reversal? Will have to wait for 1H close to determine that...
  • #240,878
  • Jul 26, 2010 7:45am Jul 26, 2010 7:45am
I am proud with my self today...I rarely manage to sit on my hands that long...that is something that I should work on...waiting for new home sales news about the USD
  • #240,879
  • Jul 26, 2010 7:55am Jul 26, 2010 7:55am
Quoting zoreli
I am proud with my self today...I rarely manage to sit on my hands that long...that is something that I should work on...waiting for new home sales news about the USD
i hope that new home sales comes out higher than expected and the GU goes down
  • #240,880
  • Jul 26, 2010 7:56am Jul 26, 2010 7:56am
Quoting digger1
lol, now you done it , kinda blows his theory of everyone here coming up with tgts from his chart lol
There is a reason that idiots like him have their own thread, can't handle any critisism and get pissed of when we collectively ignore his posts here.
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