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Cable Update (GBPUSD)

  • #254,901
  • Edited 2:14am Sep 22, 2010 2:03am | Edited 2:14am
Personally I believe we need a breather and that LO will give it to us. Looking for short entry but must admit, this news is making me very nervous to go sort...

Ok, might be kneejerk but got in short at 85 level... 1st tp 50, 2nd tp will see...

STOPPED - 15
@pawpaw1000 on Twitter
  • #254,902
  • Sep 22, 2010 2:05am Sep 22, 2010 2:05am
Quoting pawpaw1000
Personally I believe we need a breather and that LO will give it to us. Looking for short entry but must admit, this news is making me very nervous to go sort...
I think you are right. We will probably sit tight for a while, and maybe move on the back of the MPC minutes.
  • #254,903
  • Sep 22, 2010 2:06am Sep 22, 2010 2:06am
The 5728 top is the 61.8% of the 5997-5296 move down and above here the 76.4% of that move is @ 5830, but ahead of that 76.4% of the shorter 5907-same 5296 Lo is @ 5763.

G/L
ex member
  • #254,904
  • Sep 22, 2010 2:06am Sep 22, 2010 2:06am
Quoting pawpaw1000
Personally I believe we need a breather and that LO will give it to us. Looking for short entry but must admit, this news is making me very nervous to go sort...
60 % of retail traders are long GBP/USD. Gives them a good chance to be wrong - again.
________________________________ Errare humanum est
  • #254,905
  • Sep 22, 2010 2:11am Sep 22, 2010 2:11am
Quoting Delite
I think you are right. We will probably sit tight for a while, and maybe move on the back of the MPC minutes.

In such a bullish market with data behind it....It is probably wise to treat selling opps as pullback until pa tells us otherwise..such as at the potential resistance confluence of the previous 1hr swing lo (prev supp=potential sbr) with mni mentioning offers likely @ 5700...see 1hr screenshot below.

I would be very unsure about the likely probability of such a target for a short like the poster above had of 5600 or into the 5500's? from here ?? When I asked he has yet not responded with his reasons for selling here with a target like that (perhaps they are proprietary or private ?) G/L with it though.

G/L
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ex member
  • #254,906
  • Sep 22, 2010 2:13am Sep 22, 2010 2:13am
Quoting iqyu5an
just OL and see 2 of 3 ( long position ...yesterday ) close @ 100 pips. i let 1 of 3 ( long position ..yesterday ) running and joining my prev 3 long position since 5300-5400 area.

keep chart simple and easy to read....plan the trade and trade the plan and stick on in. filter the posters and toy chart heheheheh

happy green pips to u all

ive had a lot of conflicts with trading..i still do..major problem i have is a hate pressing buy or sell buttons..
can will only do it in the direction of major trend..the trend being your friend is why my trading is become profitable this year..

we had a doji on dailly yesterday..if u sold then, its not bad luck is just knowledge u havent aquired yet..



thats the other thing..no such thing as bad luck..just bad choices imho
if it breaks the weekly high we going to 1.60 and maybe higher as well..thats the point i will start taking notice of my plan


good luck with trades ladies and gents
  • #254,907
  • Sep 22, 2010 2:15am Sep 22, 2010 2:15am
Quoting malcolmb14
tip gu daily range 120 pip...work out where the bottom or top is and get most of it. I have been doing this and without to much effort been gaining 300 pip plus per week . time spent in market 3 hours per day MAX.... time spent posting on ff .. way to much and for everything else there is master card
lol I had to laugh especially the master card part
  • #254,908
  • Sep 22, 2010 2:17am Sep 22, 2010 2:17am
have to admit...have gone for the short 15700
  • #254,909
  • Sep 22, 2010 2:18am Sep 22, 2010 2:18am
[quote=bbmac;4039312]G/M,

Asia and now London open carries on the $ selling on back of market reaction to Fomc statement last night, interpretting it that Fed may launch more QE and print more $ re U.s economy slowing.

1hr is in an uptrend after establishing a 5503 base (4hr tweezer bottom) ahead of that data discusserd above...Uk Boe/Mpc minutes later......more than 1 hawk this time round ? (Andrew Sentance) 8-1 likely, but anything like 6-3, 5-4 or 6-2-1 could cause a reaction ?

G/L



2 vote can make GU fly to 1.58 or even higher....am still aside atm
  • #254,910
  • Sep 22, 2010 2:19am Sep 22, 2010 2:19am
Quoting chazzle
have to admit...have gone for the short 15700
I have been trading LO soo well of late and there I go and make a elementary mistake of getting in before m15 close!

Soo pissed at myself!
@pawpaw1000 on Twitter
  • #254,911
  • Sep 22, 2010 2:19am Sep 22, 2010 2:19am
Quoting chazzle
have to admit...have gone for the short 15700

why, what were your reasons if you don't mind me asking ?
ex member
  • #254,912
  • Sep 22, 2010 2:21am Sep 22, 2010 2:21am
I know Cloggs and some other hate him but i love what he says...

Inserted Video
@pawpaw1000 on Twitter
  • #254,913
  • Sep 22, 2010 2:27am Sep 22, 2010 2:27am
Quoting pawpaw1000
I know Cloggs and some other hate him but i love what he says...

http://www.youtube.com/watch?v=rZj640CCJd0
I found it interesting as well!
  • #254,914
  • Sep 22, 2010 2:30am Sep 22, 2010 2:30am
out for barely 10 pips-too worried about possible support@15685
  • #254,915
  • Sep 22, 2010 2:34am Sep 22, 2010 2:34am
Quoting Bull_Bear
Yesterdays post.....

http://www.forexfactory.com/showpost...stcount=254347

For newbies, can u guys see why i kept my short open yesterday and where I could have close off my short if it went against me, at what point is my cut off threshold?

Taking short off the table, missed 1.5500 by a mere 2 pips. Have closed manually at 1.5539 and reverse buy

1.5539.. SL 1.5440.. TP open
TP adjusted to 1.5800
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #254,916
  • Sep 22, 2010 2:36am Sep 22, 2010 2:36am
Quoting bbmac
why, what were your reasons if you don't mind me asking ?
just looking at possible resistance sep 17 high...I am out already...dont want to chance [email protected] 20 high.

BTW the way I trade-I try to catch a few 10-20 pip moves in the day...looking for probable 10-20s
  • #254,917
  • Sep 22, 2010 2:37am Sep 22, 2010 2:37am
Quoting Bull_Bear
TP adjusted to 1.5800
  • #254,918
  • Sep 22, 2010 2:38am Sep 22, 2010 2:38am
Price found a top at the moment at the bottom of that 1hr/4hr previous swing hi zone (= prev res=potential res) also 150% swing up of yesterday's pip range....

I wonder how many have been tempted in short by the 15min bearish engulfing with 30min Doji that developed ??

G/L
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ex member
  • #254,919
  • Sep 22, 2010 2:39am Sep 22, 2010 2:39am
Quoting Bull_Bear
TP adjusted to 1.5800
yesterday was perfect timing for reverse buy,
very nice trade
  • #254,920
  • Sep 22, 2010 2:39am Sep 22, 2010 2:39am
Quoting pawpaw1000
I know Cloggs and some other hate him but i love what he says...

http://www.youtube.com/watch?v=rZj640CCJd0
Thank you for the great video. What the USA needs to work on is FTW. We have done to much baby sitting.
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