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Cable Update (GBPUSD)

  • #258,441
  • Oct 5, 2010 3:59am Oct 5, 2010 3:59am
Quoting Dayboy001
Only small amount of time I know but i have 55 trading days under my belt, just under 3 months I am just trying to get a system in my head so I can ignore the money !!

I am happy with the result but as we all know trading for real is different.

I used to trade more currencies, but now I have found just watching GBP/USD you get to know the TL / S / R areas, I have been trading the same play for over a week ( I wish the GBP/USD stayed here forever)

I do occasionally enter on other currencies but find I am never as confident because I don't recognise...
Stay with the 2% target, it's ideal for the early days of trading. Cash in when it feels right and don't over analyse your decision afterwards. You have the right idea, focus on the percentage of profit and the numbers of pips. Ignore the money, it will come soon enough.
Dan TheMan
  • #258,442
  • Oct 5, 2010 4:00am Oct 5, 2010 4:00am
Quoting Sunsi
Do you think the pair is trong enough to break last weeks high ? 1.5921?
i have 5938 next.
let's see how it goes
Thank You
  • #258,443
  • Oct 5, 2010 4:01am Oct 5, 2010 4:01am
Quoting wormboy
that will never happen.
you have to account for losing periods.
Always have losing periods, just important to have more winners than losers.
  • #258,444
  • Oct 5, 2010 4:04am Oct 5, 2010 4:04am
I am now short at 1.59550, looking for 20 pips down.

I posted earlier not expecting it to reach 1.59 until later this week. Although it has breached, I am not certain it will maintain momentum.

Some speculators will be relishing the uncertainty over the US QE. It will allow them to put some pressure on the dollar short term.
That said, there's no real substance to GBP, so a fall back should occur on a fairly frequent basis. I am hoping for retrace after ratrace, let those pips stack up :-)
Dan TheMan
  • #258,445
  • Oct 5, 2010 4:05am Oct 5, 2010 4:05am
got stopped out just by 5..then hit my profit target. go figure!
  • #258,446
  • Oct 5, 2010 4:08am Oct 5, 2010 4:08am
me 5990 ...
http://www.forexfactory.com/showpost...&postcount=711

rgds,iqyu

Quoting wormboy
i have 5938 next.
let's see how it goes
not euphoria follower
  • #258,447
  • Oct 5, 2010 4:09am Oct 5, 2010 4:09am
Quoting WanderingDan
I am now short at 1.59550, looking for 20 pips down.

I posted earlier not expecting it to reach 1.59 until later this week. Although it has breached, I am not certain it will maintain momentum.

Some speculators will be relishing the uncertainty over the US QE. It will allow them to put some pressure on the dollar short term.
That said, there's no real substance to GBP, so a fall back should occur on a fairly frequent basis. I am hoping for retrace after ratrace, let those pips stack up :-)
I meant 1.58950 Not sure why I typed that.... - Anyway, cashed at 1.58800 and smiled.
Dan TheMan
  • #258,448
  • Oct 5, 2010 4:09am Oct 5, 2010 4:09am
took 30 pips on R1, sl at BE, looking for TP2 and TP3

also

buy_stop@1,5917 sl will be current low, TP 1,5970


Quoting scurt
Sell_limit@1,5908 sl5930, TP1-5867, TP2 5788, TP3 5699

reasons:
almost 200 pips upmove
main downward TL
possible double top
  • #258,449
  • Oct 5, 2010 4:11am Oct 5, 2010 4:11am
Quoting iqyu5an
me 5990 ...
http://www.forexfactory.com/showpost...&postcount=711

rgds,iqyu
I agree. I have 5970 as one of the levels as well. But 5938 is the immediate target atm.

have a good one
Thank You
  • #258,450
  • Oct 5, 2010 4:11am Oct 5, 2010 4:11am
Quoting wormboy
i have 5938 next.
let's see how it goes
Got in on two more lots on this dip to 1.5875.
Lets hope she gets some room then crushes trough 1.59xx and up to your tp

Reason for this down move of 30 pips?
Is it anything else then profit taking?
  • #258,451
  • Oct 5, 2010 4:11am Oct 5, 2010 4:11am
GBP/CAD a good sell at 1.62250 - Although only back to 1.62

Momentum subsiding.
Dan TheMan
  • #258,452
  • Oct 5, 2010 4:12am Oct 5, 2010 4:12am
Quoting Dayboy001
Only small amount of time I know but i have 55 trading days under my belt, just under 3 months I am just trying to get a system in my head so I can ignore the money !!

I am happy with the result but as we all know trading for real is different.

I used to trade more currencies, but now I have found just watching GBP/USD you get to know the TL / S / R areas, I have been trading the same play for over a week ( I wish the GBP/USD stayed here forever)

I do occasionally enter on other currencies but find I am never as confident because I don't recognise...

I've to say that the day of switch will tell... I've been trading for awhile. But demo trade is alot different from real-time. But my advice a good gamble(poker/sports) will have cool touch to Forex. "He will be calm and without emotions throught the play of the day trading Forex"... So me from time to time I play Poker online/real-time
  • #258,453
  • Oct 5, 2010 4:12am Oct 5, 2010 4:12am


i see that also... that's why i am gonna watch area 595x. but at this moment i just set TP at 5990. wait and see mode on bro

rgds,iqyu


Quoting wormboy
I agree. I have 5970 as one of the levels as well. But 5938 is the immediate target atm.

have a good one
not euphoria follower
  • #258,454
  • Oct 5, 2010 4:13am Oct 5, 2010 4:13am
Quoting joemiami
this is a good time to go long. Long from 5784

SL set at 5760

Closed my long at 5892.

Anybody shorting now??
  • #258,455
  • Oct 5, 2010 4:15am Oct 5, 2010 4:15am
Quoting joemiami
Closed my long at 5892.

Anybody shorting now??
No.
Great news for GBP.
I see main reason for this 30 pip drop as profit taking.
With such good news and alot of factors turning bullish. There are a good chance of this going to a new high.
  • #258,456
  • Oct 5, 2010 4:16am Oct 5, 2010 4:16am
Quoting Sunsi
Got in on two more lots on this dip to 1.5875.
Lets hope she gets some room then crushes trough 1.59xx and up to your tp
nice entry
5869 is previous day hi & we're trading above it. If price can float above here, I have no doubt it'll print higher for the day.
where did you place your stop?
Thank You
  • #258,457
  • Oct 5, 2010 4:16am Oct 5, 2010 4:16am
The high of 15921 is the 886 turning point of a daily bearish bat. A breach will invalidate the pattern.
  • #258,458
  • Oct 5, 2010 4:16am Oct 5, 2010 4:16am
Quoting joemiami
Closed my long at 5892.

Anybody shorting now??
Yep, short to 1.5875 - again.

Cashed one before, sold again on the retrace.
Dan TheMan
  • #258,459
  • Oct 5, 2010 4:20am Oct 5, 2010 4:20am
supply emerged at the base of the previous 1hr/4hr swing hi zone.... will the buy the dip participants come in? and if so where ? most obvious potential rbs factors are shown on 1hr current screenshot below.

G/L
Attached Image
ex member
  • #258,460
  • Oct 5, 2010 4:21am Oct 5, 2010 4:21am
took 16 from the short-but really,should have stayed with the big move...I'll get there one day...
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