Cable Update (GBPUSD) | Page 12682 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #253,621
  • Sep 16, 2010 4:50am Sep 16, 2010 4:50am
this is how i see the dailly..

upper blue line showing 1.58 good resistance as well
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.jpg Size: 100 KB
  • #253,622
  • Sep 16, 2010 4:53am Sep 16, 2010 4:53am
Price finds support at the confluence of the 38.2% 5347-5651 with ascending trend line on 4hr, following the Uk data assisted drop to 5538-current intraday lo.

G/L

http://www.easy-upload.net/fichiers/z.2010916115322.gif
ex member
  • #253,623
  • Sep 16, 2010 4:54am Sep 16, 2010 4:54am
decided I'm being stupid holding a position while the market is waiting for US data... Closed ALL and waiting for next move, gonna hit it hard
@pawpaw1000 on Twitter
  • #253,624
  • Sep 16, 2010 4:56am Sep 16, 2010 4:56am
Quoting gammase1
Well done, friend.

I also applaud your honesty last night, coming on here talking candidly about your losses, as we all experience such "bad days at the office". They key to long-term success, I think, is having the mental toughness to handle these inevitable bad days or bad weeks.

Too many posters on here elect to tell half the story, detailing only, retrospectively, their alleged winning positions. It paints a very distorting picture of the reality of retail forex.

Good luck.
Agreed... Had 2 very good weeks, one relatively BAD week and this week is looking mixed. If I can get a nice breakout trade then it should put my books back in balance!
@pawpaw1000 on Twitter
  • #253,625
  • Sep 16, 2010 5:00am Sep 16, 2010 5:00am
Quoting pawpaw1000
Agreed... Had 2 very good weeks, one relatively BAD week and this week is looking mixed. If I can get a nice breakout trade then it should put my books back in balance!
i dont care what any1 says forex is incredibly difficult..if u make profit ..its a blessing.. keep it up bro!

so many in here trade small time frames and all i see is setup's that are designed to money from scalpers..it really is big fish hunting small fish

I havent got the guts to scalp..

got a signal to suggest that this may hold..
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.jpg Size: 96 KB
  • #253,626
  • Sep 16, 2010 5:03am Sep 16, 2010 5:03am
Quoting gammase1
Well done, friend.

I also applaud your honesty last night, coming on here talking candidly about your losses, as we all experience such "bad days at the office". They key to long-term success, I think, is having the mental toughness to handle these inevitable bad days or bad weeks.

Too many posters on here elect to tell half the story, detailing only, retrospectively, their alleged winning positions. It paints a very distorting picture of the reality of retail forex.

Good luck.
Thanks, friend.

Last night was a turbulent time as i have only been trading live form Feb of this year my first big loss since my demo days. I traded demo for 2 years before i had the confidence to try live trading: DBFX asks for a 5K deposit!

I am still learning and somethings take longer to understand than others, this business is all about discipline. The ability to let go of a losing trade (hoping it will turn around) is what got me last night. Alas I know the feeling of when i first encountered the FX market, promises of riches & quick easy money by every broker website imaginable. looking back i can see how foolish the whole notion was. Only after years of study and trying on my own did i start on the road to progress.

Regards, friend.
Our beliefs are based on logic and the pursuit of clearity.
  • #253,627
  • Sep 16, 2010 5:05am Sep 16, 2010 5:05am
closed long for 10+ pips , dunno how much pips i made today but 1,000$+ again ... done for today
  • #253,628
  • Sep 16, 2010 5:07am Sep 16, 2010 5:07am
M1 chart

http://www.forexrainbow.com/files/3l...qd2fkzsrc8.gif
A little beginner trader since 2006
  • #253,629
  • Sep 16, 2010 5:08am Sep 16, 2010 5:08am
Quoting Alexbabwa
long 563 sl 530
Sold half at 610, even more bad uk data

sl moved to BE
  • #253,630
  • Sep 16, 2010 5:08am Sep 16, 2010 5:08am
Quoting Gbp/usd
This is what i got from thomsonreuters.com...

LONDON, Sept 16 (IFR) - UK retail sales numbers are significantly weaker than expected. A gain of 0.3% was expected for August and instead there was a decline of 0.5% with the July figure revised from 1.1% to 0.8%. ONS suggests that the July revision was due to index rebasing, seasonal adjustment review as well as standard revisions. This is the first monthly fall since January and along with the first monthly rise in claimant count (also since January) the data suggests that the downside growth...
GBP CBI Trends Total Orders Sep : -17
________________________________ Errare humanum est
  • #253,631
  • Sep 16, 2010 5:11am Sep 16, 2010 5:11am
Revised my target to 1.5780 with a trailing stop of 40 pips.

Why? Cable on H1 chart is still in a bullish mode and we are well into London session with its direction set.

We wait for NY to see how it travels.
  • #253,632
  • Sep 16, 2010 5:13am Sep 16, 2010 5:13am
Quoting Gbp/usd
Thanks, friend.

.....
I am still learning and somethings take longer to understand than others, this business is all about discipline. The ability to let go of a losing trade (hoping it will turn around) is what got me last night. Alas I know the feeling of when i first encountered the FX market, promises of riches & quick easy money by every broker website imaginable. looking back i can see how foolish the whole notion was. Only after years of study and trying on my own did i start on the road to progress....
How true your words are. My experience leaves me convinced that oce you have a proven and consistently profitable trading edge, the ability to make 'real money' gains from it, consistently is one's own ability to impliment it, and this is where the battle becomes one with mastering the psychology of trading.

Your experience highlighted and underlined above is to typical and a great example why trading is so hard...it runs counter to intuitive natural human emotions, ie when we naturally hope we need to fear (and cut a loser short) and where we would naturally fear (and cut a profit) we should hope (it will gain more )and let it run.

Continued G/L with your trading.
ex member
  • #253,633
  • Sep 16, 2010 5:16am Sep 16, 2010 5:16am
Quoting pawpaw1000
Agreed... Had 2 very good weeks, one relatively BAD week and this week is looking mixed. If I can get a nice breakout trade then it should put my books back in balance!
Hi Paw paw,

When i started in Forex, i made 2 month profit and one month loss (Big loss), since that i learnt discipline and every morning during asian session sport like rugby (amateur ) and others, it help in Forex.
Allez Limoges...
Trade with the momentum
  • #253,634
  • Edited 5:33am Sep 16, 2010 5:18am | Edited 5:33am
still bullish on cable, holding position from 5590, and 5612...
H1, H4 looks 100% bullish, we are after bad news stil above DP, even H1 dont close below DP. Looking for 5690 as a final target. On 5650 will close part of position and set SL to BE
  • #253,635
  • Sep 16, 2010 5:37am Sep 16, 2010 5:37am
http://www.flickr.com/photos/19101954@N05/4995109519/http://www.flickr.com/photos/19101954@N05/4995109519/
  • #253,636
  • Sep 16, 2010 6:12am Sep 16, 2010 6:12am
Enter PreCap2 in texedo ready for a huge fight. He is late once again today
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,637
  • Sep 16, 2010 6:12am Sep 16, 2010 6:12am
A convincing break of 5627 and I will go long.
  • #253,638
  • Sep 16, 2010 6:14am Sep 16, 2010 6:14am
I expected A corrective movement to the pair Sterling against the U.S. dollar to retest the support level at 1.55550 then return to rise up to the level 1.57250 , to achieve these expectation we need close four hours candlestick above the level 1.55550 .
A little beginner trader since 2006
  • #253,639
  • Sep 16, 2010 6:30am Sep 16, 2010 6:30am
that is the gann hilo of the 1 hour its yet to flip. lets keep watching. In my opinion, the bears are still around.

Quoting Delite
A convincing break of 5627 and I will go long.
  • #253,640
  • Sep 16, 2010 6:31am Sep 16, 2010 6:31am
Quoting uncletrumpet
that is the gann hilo of the 1 hour its yet to flip. lets keep watching. In my opinion, the bears are still around.
Yep, still watching. Not going to happen this side of the US news!

Time for lunch!
368 traders viewing now, 2 are registered:
,