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Cable Update (GBPUSD)

  • #252,981
  • Sep 14, 2010 11:28am Sep 14, 2010 11:28am
Quoting Alexbabwa
out at 46 for +26 pips, exit based on descending trend line

now short 51, sl 501
stopped out -50 for -24 today, won't risk trading again today. I have a lot to learn, Doh!
  • #252,982
  • Sep 14, 2010 11:28am Sep 14, 2010 11:28am
Quoting dryclean
Cloggie
Newbie question what exactly does it mean when you say you coved 5564

Do you put your stop there to get out or did you place a sell stop order just below for a retrace.... could you explain
Thanks

Covered means closed my positions. Not looking for another entry yet, the next 30 minutes is going to be key here to see if I want to join another ride, definitely not looking to short from here.
  • #252,983
  • Sep 14, 2010 11:28am Sep 14, 2010 11:28am
G/A all.

Howsoever you plot it - the 4hr/daily descending channel has been breeched to the upside by the goldman inspired comments re more U.s Qe needed $ sell-off ($1 trillion m,ore in their view !)

A lot of breakouts today across various instruments,cable shown below and the beginnings of an ascending channel on both 4hr (shown below) and 1hr ?

G/L

http://www.easy-upload.net/fichiers/z.2010914182416.gif
ex member
  • #252,984
  • Sep 14, 2010 11:29am Sep 14, 2010 11:29am
Quoting PipChick
You are so right cloggie. I was watching this thread this morning and watching unnecessary losses only because of lack of patience to wait for the firm moves.Some lucky and some unlucky but none the less, most were risky.

Once some of these guys here learn that not being in a trade actually is a trade, their succesrate will jump with leaps and bounds.
  • #252,985
  • Sep 14, 2010 11:29am Sep 14, 2010 11:29am
Quoting Alexbabwa
stopped out -50 for -24 today, won't risk trading again today. I have a lot to learn, Doh!
yeah, I was watching you today too..lol (sorry for your loss tho. )
  • #252,986
  • Sep 14, 2010 11:30am Sep 14, 2010 11:30am
Quoting cloggie
Once some of these guys here learn that not being in a trade actually is a trade, their succesrate will jump with leaps and bounds.
Yep, the hardest part of trading is knowing when to lay low.
  • #252,987
  • Sep 14, 2010 11:30am Sep 14, 2010 11:30am
Quoting bbmac
G/A all.

Howsoever you plot it - the 4hr/daily descending channel has been breeched to the upside by the goldman inspired comments re more U.s Qe needed $ sell-off ($1 trillion m,ore in their view !)

A lot of breakouts today across various instruments,cable shown below and the beginnings of an ascending channel on both 4hr (shown below) and 1hr ?

G/L

Yup, may have to revisit that sentiment of mine.
  • #252,988
  • Sep 14, 2010 11:31am Sep 14, 2010 11:31am
Quoting iqyu5an
be carefull for your CT at this moment bro ....

Take care .....
With the majors, I am set +438 on the day.

So...Even if I lose this trade or come out dead ass even...I still have little to worry or bitch about, and way more then enough room for this thing to carry.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,989
  • Sep 14, 2010 11:31am Sep 14, 2010 11:31am
Quoting cloggie
Once some of these guys here learn that not being in a trade actually is a trade, their succesrate will jump with leaps and bounds.

You're right.... but thats the hardest thing... patience....
  • #252,990
  • Sep 14, 2010 11:34am Sep 14, 2010 11:34am
me too

just close 139 pips but let my 700 + running ....

g luck


Quoting Magix
With the majors, I am set +438 on the day.

So...Even if I lose this trade or come out dead ass even...I still have little to worry or bitch about, and way more then enough room for this thing to carry.
not euphoria follower
  • #252,991
  • Sep 14, 2010 11:36am Sep 14, 2010 11:36am
Quoting iqyu5an
me too

just close 139 pips but let my 700 + running ....

g luck

Damn nice trading iqyu....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,992
  • Sep 14, 2010 11:39am Sep 14, 2010 11:39am
Quoting Magix
Damn nice trading iqyu....
i just plan the trade not react instantly to movement and posters at the forum. i filter the posters

http://www.forexfactory.com/showpost...&postcount=670
not euphoria follower
  • #252,993
  • Sep 14, 2010 11:42am Sep 14, 2010 11:42am
Cloggie, Im just interested in why you don't think the Fib line at 23.6 (approx 1.558) will hold. Or do you wait confimation either way?
  • #252,994
  • Sep 14, 2010 11:42am Sep 14, 2010 11:42am
Quoting cloggie
Covered means closed my positions. Not looking for another entry yet, the next 30 minutes is going to be key here to see if I want to join another ride, definitely not looking to short from here.
Thanks for the explanation

Nice box break out I've been following your advice
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  • #252,995
  • Sep 14, 2010 11:45am Sep 14, 2010 11:45am
Interestingly, above current price 5645 is the 50% of 5997-5296 move and 1.618% fib extension of the 5530-5339 move...this may well be an upside target for the bulls ??

G/L
ex member
  • #252,996
  • Sep 14, 2010 11:47am Sep 14, 2010 11:47am
Maybe we will see 1.56 after all
  • #252,997
  • Sep 14, 2010 11:48am Sep 14, 2010 11:48am
Quoting Sammie
Maybe we will see 1.56 after all
first pit stop

http://www.forexfactory.com/showpost...&postcount=670
not euphoria follower
  • #252,998
  • Sep 14, 2010 11:52am Sep 14, 2010 11:52am
Quoting Sammie
Maybe we will see 1.56 after all
Sorry Sammie, I thought you meant 1.60 before .
You've got to be IN IT to WIN IT!
  • #252,999
  • Sep 14, 2010 11:53am Sep 14, 2010 11:53am
Quoting Ifty
Sorry Sammie, I thought you meant 1.60 before .

She kind of did:

Quoting Sammie
I'm holding a long - do you think it will reach 1.6 today?

Bit of a blond moment, but we all knew what she meant. Most of us "older" guys know how to translate womenspeak, we learned the hard way.
  • #253,000
  • Sep 14, 2010 11:56am Sep 14, 2010 11:56am
Quoting PipChick
yeah, I was watching you today too..lol (sorry for your loss tho. )
It was silly of me to go short based on the descending channel alone i guess. I will learn as much as i can here. Hopefully il be in your position watching some other noob before too long.
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