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Cable Update (GBPUSD)

  • #244,961
  • Aug 11, 2010 9:58am Aug 11, 2010 9:58am
Quoting primzvicious
which mean? is it a signal tu jump or to slump?

I took my fair share today out of her, not going to tempt fate by trading this either way right now.
  • #244,962
  • Aug 11, 2010 9:59am Aug 11, 2010 9:59am
Quoting cloggie
You hinting at China? Not going to happen; they are not fools. Right now they are laughing all the way to the bank, literally.
No I was thinking of Iraq, in particular with all that liquid gold they have over there, too a degree under USA control!!!!!!! Sort off!!!! or so they think
  • #244,963
  • Aug 11, 2010 10:00am Aug 11, 2010 10:00am
Quoting cloggie
I took my fair share today out of her, not going to tempt fate by trading this either way right now.
ok.. thx
Verily, in every difficulties there is relief
  • #244,964
  • Aug 11, 2010 10:03am Aug 11, 2010 10:03am
Quoting cloggie
I took my fair share today out of her, not going to tempt fate by trading this either way right now.
I hear that! Cable,fibre, and dragon have been nice to me today.Took my 15 pips (plus 4 for the stupid spreads) from each and I'm done for the day.Pretty straightforward trading day for everyone I'm assuming because of all the market craziness.
Anyways, hows it been clogs?
  • #244,965
  • Aug 11, 2010 10:03am Aug 11, 2010 10:03am
Quoting primzvicious
ok.. thx

Just waiting to see if equities are going to find support somewhere. FTSE down 2%, DAX down 2%, CAC down 3%, DOW down 2%, SnP down 2.5%.

Fibre dropped so much on the back of bad US data and a nagging little rumour that the ECB is buying bonds today, especially Irish ones.
  • #244,966
  • Aug 11, 2010 10:07am Aug 11, 2010 10:07am
Quoting cloggie
Not trading anything below 5640 yet until we have a convincing close below it, just scalped some to the S2 for now, waiting for confirmation first for further trades. Flat all trades for the first time today. 225 pip run on Cable for a summer's day is a darn good run.
at least it proving that my target on asian session is more than just rubbish
Verily, in every difficulties there is relief
  • #244,967
  • Aug 11, 2010 10:07am Aug 11, 2010 10:07am
Looks like she might be trying to make her case for the day's new low.But,like clogs said, not willing to play the role of currency nostradamus and end up loosing all my gains by doing something stupid like catching a bad case of stinky fingers
  • #244,968
  • Aug 11, 2010 10:09am Aug 11, 2010 10:09am
Quoting Ineedpips9
Looks like she might be trying to make her case for the day's new low.But,like clogs said, not willing to play the role of currency nostradamus and end up loosing all my gains by doing something stupid like catching a bad case of stinky fingers

If you are looking for another trade scalping the short side is the only way to go, don't go picking bottoms here by any means.
  • #244,969
  • Aug 11, 2010 10:13am Aug 11, 2010 10:13am
Quoting Ineedpips9
Looks like she might be trying to make her case for the day's new low.But,like clogs said, not willing to play the role of currency nostradamus and end up loosing all my gains by doing something stupid like catching a bad case of stinky fingers
edit : wasnt it should be smelly finger clogg?
Verily, in every difficulties there is relief
  • #244,970
  • Aug 11, 2010 10:13am Aug 11, 2010 10:13am
Quoting cloggie
If you are looking for another trade scalping the short side is the way to go, don't go picking bottoms here by any means.
Yea I was thinking about it, espicially after looking at all the different tf's.Still trying to get the hang of this 5-decimal platform so until then I'm only doing trades that I see could get me 10-30 points. A little scary when I look up and see the spread say "40"
  • #244,971
  • Aug 11, 2010 10:17am Aug 11, 2010 10:17am
Quoting primzvicious
edit : wasnt it smelly finger clogg?
True.My mistake. It's been a while for me.I've basically been living in a mathlab for the past 6 weeks. smelly,stinky, as a grad student with bills I'm trying to avoid them all.
  • #244,972
  • Aug 11, 2010 10:17am Aug 11, 2010 10:17am
Quoting Ineedpips9
Yea I was thinking about it, espicially after looking at all the different tf's.Still trying to get the hang of this 5-decimal platform so until then I'm only doing trades that I see could get me 10-30 points. A little scary when I look up and see the spread say "40"

As long as you monitor the equities, short fibre is also a good scalping opportunity, just watch the close of London. Just let this little consolidation on the 5/15 play out first.

Planning on putting your mathskills to use in finance? Either as retail trader or in the industry?
  • #244,973
  • Aug 11, 2010 10:20am Aug 11, 2010 10:20am
Cloggie... you think will retest S2?
i earned the profit, but i shorted again after the bounce...
  • #244,974
  • Aug 11, 2010 10:24am Aug 11, 2010 10:24am
Quoting baruch
Cloggie... you think will retest S2?
i earned the profit, but i shorted again after the bounce...

It'll be a stubborn one. Trading it without it going first is purely in anticipation and not really technically supported at this level.
  • #244,975
  • Aug 11, 2010 10:26am Aug 11, 2010 10:26am
Quoting Ineedpips9
True.My mistake. It's been a while for me.I've basically been living in a mathlab for the past 6 weeks. smelly,stinky, as a grad student with bills I'm trying to avoid them all.
dont take it seriously mate im just kidding
Verily, in every difficulties there is relief
  • #244,976
  • Aug 11, 2010 10:34am Aug 11, 2010 10:34am
DOW is finding some support and so in turn is fibre and cable. Bit of profittaking on all of 'm. Europe is shut now so the ECB shopping is coming to an end taking one impetus out of the equation.
  • #244,977
  • Aug 11, 2010 10:38am Aug 11, 2010 10:38am
Quoting cloggie
DOW is finding some support and so in turn is fibre and cable. Bit of profittaking on all of 'm.
Maybe it will like yesterday once London closes go back with its daily trend..........downwards
  • #244,978
  • Aug 11, 2010 10:48am Aug 11, 2010 10:48am
Quoting ohan
if you care i wish to say sth

i ve two macd 8,20,10 and 45, 105, 15. i look over for change to long kinda when histo of 45 105 15 is negative and ma in 8 20 10 crosses up.

these have to be averaged if the entry is wrong. i refer 1hr tf

that way trade comes to you ( certainly after heart burns but then it has taught a few important things patience , mm )

in the last uptrend in gu there were two short entries on 4th and 8aug when ma crossed down
Thank you for sharing this. I'll take a look.
  • #244,979
  • Aug 11, 2010 10:50am Aug 11, 2010 10:50am
All of this simply off of a 5m compression
coupled with news. Nearly 200 pips. The
1h never completely formed into a tight MAC
pattern so no real push there. It could still come
back and reform into a tighter compression pattern.
I don't see much more until another MAC should form
on another tf. The 4h looks to be in a nice balance with
any touch between the 38.2 and 50 fib. Always fun to watch.

Dr. D.
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  • #244,980
  • Aug 11, 2010 10:54am Aug 11, 2010 10:54am
Quoting cloggie
Planning on putting your mathskills to use in finance? Either as retail trader or in the industry?
EXACTLY! These past 4+ years of job hunting in this industry after I graduated has left me confused and frustrated.Espicially going in for an entry level job and the competition is guys who've been in it for 10+ years.My new game plan is after I get this math degree (within the next 2 years,with honors) If I still can't get a job then I'll go on to the doctorate,which pays a stipened.So I basically get paid to get my phd. The great thing about getting this math degree is that I can either go for phd in mathematics (which I love) or a phd in economics (which I love even more).Probably econ if I go for just one phd at a top 30 school and study the different currency markets.All the while trading forex during the London/NY overlap hours.Thats the plan anyways.

Anyways, looks like she might be bottoming out for the day.Clogs, do you think the stronger dollar play for today is more of a safe-haven?
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