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Cable Update (GBPUSD)

  • #241,221
  • Jul 27, 2010 8:08am Jul 27, 2010 8:08am
Quoting GlobalMacro
semantics probably...so we are in agreement as to the necessity of knowing the final outcome (not necessarily the individual events)...
Absolutely, ...that is to say (and for the avoidance of doubt - lol,!) that based on the historical sample (s) we expect a positive result over the present sample and this 'should happen' unless the underlying dynamics of the market have completely altered since those/that last sample...If our trading edge is based on sound tech principles , it is a reasonable possible even safe assumption.

I just don't like taking anything for granted I guess.

G/L
ex member
  • #241,222
  • Jul 27, 2010 8:09am Jul 27, 2010 8:09am
Quoting graywolf3
Hi all, I'm a new member and this is my second post.
I went long on the GBP/USD (4hr chart) on 2010.07.22 08:22 with a target of 1.58012. I have been buying short term positions as the pair made swing lows on the 15min charts.
I have made 6 such trades (below). ON the main trade I have moved my stop loss up and now have locked in 227.6 pips.
Anyone have any comments on this strategy?
12.4pips
-1.6pips
+17.4pips
+15.8pips
+27.2pips
+29.3pips
Sounds good but you only get taken seriously if you post your call at thetime of entry to the trade
All systems of divination, like music itself,work through patterns.
  • #241,223
  • Jul 27, 2010 8:17am Jul 27, 2010 8:17am
Quoting bbmac
Absolutely, ...that is to say (and for the avoidance of doubt - lol,!) that based on the historical sample (s) we expect a positive result over the present sample and this 'should happen' unless the underlying dynamics of the market have completely altered since those/that last sample...If our trading edge is based on sound tech principles , it is a reasonable possible even safe assumption.

I just don't like taking anything for granted I guess.

G/L
alright then...

but PM me if you figure out a way to weed out those nasty "individual events" so we be "the ultimate know it all"...

Trade Well!
Hear the music before the song is over ...
  • #241,224
  • Jul 27, 2010 8:21am Jul 27, 2010 8:21am
Quoting ams
155700..that's my top for today..
short here with SL to 156..
  • #241,225
  • Jul 27, 2010 8:24am Jul 27, 2010 8:24am
Wow there's some quality vouched traders talking on here today. Better get listening.
Gone to a better place
  • #241,226
  • Jul 27, 2010 8:29am Jul 27, 2010 8:29am
Good day to you,

Are all you bulls finished now? So much discount around it feels like a year end sale.

Some light reading:

P/E RATIO – The percentage of investors wetting their pants as the market keeps crashing

BROKER – What my broker has made me

What’s the definition of optimism?
An Investment Banker ironing five shirts on a Sunday evening.

Even when you put Bernanke on “mute”, the market still goes down.

A plan to bail out the Big Three automakers stalled in Congress today. Yeah. As a result, Congress plans to buy a better-built Japanese bailout plan. – Conan O'Brien

There are two types of economists: those who cannot forecast interest rates and those who do not know that they cannot forecast interest rates.

The United States has developed a new weapon that destroys people but it leaves buildings standing. It's called the stock market.

President Bush said clients shouldn’t be concerned by all the bank closings. If the bank is closed, you just use the ATM, he said.

President Bush said that he is saddened to hear about the demise of Lehman Brothers. His thoughts at this time go out to their mother as losing one son is hard but losing two is a tragedy.

Two Lehman employees get into an elevator to go home.
One pushes the button but it doesn’t move. “What’s going on?” he asks, “why doesn’t it move”?
The other pulls out his laptop and says “Well of course, according to my model, nothing can go down further.”


Wish you all success

Regards
  • #241,227
  • Jul 27, 2010 8:32am Jul 27, 2010 8:32am
Quoting smikester
Wow there's some quality vouched traders talking on here today. Better get listening.

thats why we got foooooooked
  • #241,228
  • Jul 27, 2010 8:34am Jul 27, 2010 8:34am
A H1 close below 1.5549 might take us down. Candlestick reversal pattern.
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Numbers NEVER Lie
  • #241,229
  • Jul 27, 2010 8:34am Jul 27, 2010 8:34am
Quoting TauTrader
Good day to you,

Are all you bulls finished now? So much discount around it feels like a year end sale.

Some light reading:

[left][color=#000000]P/E RATIO – The percentage of investors wetting their pants as the market keeps crashing

BROKER – What my broker has made me

What’s the definition of optimism?
An Investment Banker ironing five shirts on a Sunday evening.

Even when you put Bernanke on “mute”, the market still goes down.

[i][color=blue]A plan...
u are the man
  • #241,230
  • Jul 27, 2010 8:47am Jul 27, 2010 8:47am
Quoting ams
155700..that's my top for today..
short here with SL to 156..

Not shorting yet, but I have taken profit of the table after 5567 could not hold.
  • #241,231
  • Jul 27, 2010 8:53am Jul 27, 2010 8:53am
Quoting cloggie
Not shorting yet, but I have taken profit of the table after 5567 could not hold.
Best news I have heard in 5 trading sessions! Perhaps my poor shorts will give me some back now.
This space intentionally left blank.
  • #241,232
  • Jul 27, 2010 8:57am Jul 27, 2010 8:57am
NEWS 3 mins
All systems of divination, like music itself,work through patterns.
  • #241,233
  • Jul 27, 2010 8:58am Jul 27, 2010 8:58am
Quoting Uphios
Best news I have heard in 5 trading sessions! Perhaps my poor shorts will give me some back now.

Well, what do I say, we have been going up solidly for 450 pips again for the second time in 2 weeks and for those 2 weeks I have been giving the licers loads of bull for using any and all retrace as a point to go short. 5567 was a biggie for me as a long target as I stated last night, does not mean though that it is a reversal point for a short, just a good place to cash in a bit of beer money, like B_B says.
  • #241,234
  • Jul 27, 2010 8:59am Jul 27, 2010 8:59am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Alright Kill, how is it going mate?


ta
ams


Quoting kill56
  • #241,235
  • Jul 27, 2010 9:11am Jul 27, 2010 9:11am
Short call / add @ 1.55389
TP @ 1.54883
SL @ BE....

Possible push down if it can pass through Kijun Sen (shown as blue line in the chart) level in my 30min TF
Attached Image
  • #241,236
  • Jul 27, 2010 9:21am Jul 27, 2010 9:21am
Quoting ams
Alright Kill, how is it going mate?


ta
ams

all great mate enjoying the ride till we break 5560's is strong news was good for the dollar but we are dealing with crazy cable every thing still on the table
  • #241,237
  • Jul 27, 2010 9:24am Jul 27, 2010 9:24am
Quoting kill56
all great mate enjoying the ride till we break 5560's is strong news was good for the dollar but we are dealing with crazy cable every thing still on the table

We had a strong bounce on support here, whether using TL's or MA's or even fibs, still not a good point to short this one yet. If this M30 completes as bearish engulfing we may have a nice setup forming there.
  • #241,238
  • Jul 27, 2010 9:42am Jul 27, 2010 9:42am
jumped out a bit early before... (we hit R2 15577 on the mark)

LC could bring another NY rally just for fun, so not shorting yet.

15M LTL, 15520 prior resistance holding as support atm.

Quoting Fudomyo

15560 is a nice target. might hold out for R2...
just got back to trading today after a few days off so missed the middle part of the trade. (the choppy nasty part... lol) today has good volatility, so a great day to jump back in.

Quoting uksnowman
Cracking trade and same goes for Ams. Was your entry at some point last week? If so, nice profits!
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  • #241,239
  • Jul 27, 2010 9:55am Jul 27, 2010 9:55am
Quoting cloggie
We had a strong bounce on support here, whether using TL's or MA's or even fibs, still not a good point to short this one yet. If this M30 completes as bearish engulfing we may have a nice setup forming there.

The M30 bearish engulfing formed and failed that one was fundy driven and not entirely technical. 5509 is the key for any shorters to have a hope and a prayer. On every TF the trend is still holding up nicely and like Fudomyo says, NY may give us a test of the high. My key levels are 5509 and 5544, a nice range to trade the break from. Am still flat, having cashed in earlier and still not seeing a proper longer term setup here, lots to scalp from as yesterday but am passing today on that one. Keep buying the dips of 5515 is one scalping strat today that could bring in some pips. This really is the second shake of some of the stops.
  • #241,240
  • Jul 27, 2010 9:57am Jul 27, 2010 9:57am
Quoting cloggie
We had a strong bounce on support here, whether using TL's or MA's or even fibs, still not a good point to short this one yet. If this M30 completes as bearish engulfing we may have a nice setup forming there.

agree bro i am already out hit and run flat now waiting
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