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Cable Update (GBPUSD)

  • #260,481
  • Oct 14, 2010 4:27am Oct 14, 2010 4:27am
Quoting scurt
Are you on demo account or real?
demoed for a few weeks in 2007,
real (part-time) since then
real (full-time) since last month

demo is helpful, everyone is different, for me it had to be real asap(albeit small accounts)....won 50 trades in a row w/ first real account (came home from Univ on goodfriday, broker closed early on me left position open and lost almost all gains) tough lesson but it was enough to see the power...lots in between then and now but right now its more about being consistent and humble rather than having 100% win ratio or thinking ive mastered the market, have learned/changed a lot along the way
  • #260,482
  • Oct 14, 2010 4:28am Oct 14, 2010 4:28am
Quoting AdrianHNV
$100 per pip........ Needs to be enough to make it a worth while trade

Are you serious Adrian?.....

You're risking a potential 22,600 dollar draw down on a trade you're going to give to charity? You must have one hell of an account!
  • #260,483
  • Oct 14, 2010 4:32am Oct 14, 2010 4:32am
Quoting AdrianHNV
$100 per pip........ Needs to be enough to make it a worth while trade

I am sure they will be incredibly grateful.
I hope it goes well.

When do you see it reaching 1.63+ ?
Dan TheMan
  • #260,484
  • Oct 14, 2010 4:33am Oct 14, 2010 4:33am
Quoting Sutts
Are you serious Adrian?.....

You're risking a potential 22,600 dollar draw down on a trade you're going to give to charity? You must have one hell of an account!

Bees have been around for millions of years........................... And know what and how too work their HONEY,,,,,although they haven't yet learnt how to deal with the Honeys.................
  • #260,485
  • Oct 14, 2010 4:34am Oct 14, 2010 4:34am
Quoting AdrianHNV
Bees have been around for millions of years........................... And know what and how too work their HONEY,,,,,although they haven't yet learnt how to deal with the Honeys.................
LOL, good luck!
  • #260,486
  • Oct 14, 2010 4:35am Oct 14, 2010 4:35am
The cable is really looking unfavorable right now ..in that tight range for a while now something gotta give
  • #260,487
  • Oct 14, 2010 4:38am Oct 14, 2010 4:38am
be patient .... and walk in your road map ....


Quoting Pipwanderer
The cable is really looking unfavorable right now ..in that tight range for a while now something gotta give
not euphoria follower
  • #260,488
  • Oct 14, 2010 4:41am Oct 14, 2010 4:41am
Quoting iqyu5an
be patient .... and walk in your road map ....
Well i am short and its really not trying to hit my stop loss so damn well it got to go down someone has to put in that huge sell order.
  • #260,489
  • Oct 14, 2010 4:43am Oct 14, 2010 4:43am
So, in less than a month you have moved from $1.00 a pip to $100 per pip??





Quoting AdrianHNV
Whilst waiting for daily direction, scalping the 5 minute candles........ All good fun even at a lowly $1.00 a pip.

Good morning folks, overcast and looking too stay that way for most of the day
  • #260,490
  • Oct 14, 2010 4:45am Oct 14, 2010 4:45am
Quoting WanderingDan

When do you see it reaching 1.63+ ?

I 'think' within the next week or so...........

Please do not put any trades on using my 'assumptions and forecasts'.

I am after all fairly new at this long term trading, although my daily trading consistently reaches the targets I set for it.
  • #260,491
  • Oct 14, 2010 4:51am Oct 14, 2010 4:51am
Quoting Delite
So, in less than a month you have moved from $1.00 a pip to $100 per pip??
Well actually Delite as posted I use the $1.00 a pip for scalping when I am bored with the market........ ie it's trending between a hard rock and a hard place. No point in 'playing with bigger amounts when bored' is there?
  • #260,492
  • Oct 14, 2010 4:54am Oct 14, 2010 4:54am
Quoting AdrianHNV
Well actually Delite as posted I use the $1.00 a pip for scalping when I am bored with the market........ ie it's trending between a hard rock and a hard place. No point in 'playing with bigger amounts when bored' is there?

Sure, its just I thought it would be the other way around - play with the big numbers on a quick in and out but then be more conservative on a longer play, especially when the long play is still a bit new.

Horses for courses I guess. Life would be very dull if we all thought the same!
  • #260,493
  • Oct 14, 2010 5:04am Oct 14, 2010 5:04am
Quoting USD-Bear
Just wished I was Bernanke, I think its just words I think there will be no US-QE2 because that would give the world a full blown currency war.
But that being said, we can see that words alone are enough, deeds would blow USDX down spectacular, I'm thinking there will be no US-QE2 but GB could be stupid enough encouraged by US to talk again about GB-QE2 and that would be my trigger to short GU like hell.
Will be interesting what BOJ will do now UJ at 81 is hurting there exports to a critical level...
bernanke is so popular everybody wants to be him... including me.sometimes we would thinks "why the hell that bernanke would do that?" i guess he is also trying to avoid those big boys with a very careful statement and sometimes with some unpredictable moves, such as this depreciation of US dollar.everybody wouldn't thought of it especially those "big boys".who would thought of all this with all those paper money printing.
i think it would be long...until US dollar get back to it's feet...i meant the USDX...now Euro is the strongest againts all major currency, Japan is still hot, pounds is weak againts yen but stronger againts US dollar...Euro and japan is fighting.... one hell of a mixed up....for the time being..don't see any good corellation as they used to be....
  • #260,494
  • Oct 14, 2010 5:06am Oct 14, 2010 5:06am
Closed my yesterday long from 158.35 at 160.35 for 2000 USD profit. Will look to buy at dips.
  • #260,495
  • Oct 14, 2010 5:11am Oct 14, 2010 5:11am
Quoting Delite
So, in less than a month you have moved from $1.00 a pip to $100 per pip??
people have many reason to trade...so is their position...for lots of reason.
if you know that you could trade profitable and know the ratio of you loss and profit, i don't think that you would stick to the MM myth (2% on each trade from equity).....but if you have you loss than you'll have to ease up a little bit...to let things cool down...just my 2 cents...
  • #260,496
  • Oct 14, 2010 5:11am Oct 14, 2010 5:11am
Quoting Articulate
My long term view on the Cable still remains the same. The currency is still trading between 1.60000 and 1.58535, which is our concrete zone for now. For the price to break out of this range, the daily candle needs to close outside the box. This is the bigger picture.

Happy trading!
Price broke out of the concrete zone today by about 60 pips so far. Where the daily candle closes today will determine the continuation of the bullish trend from 1.53000 area. For the price to break out of this range, the daily candle needs to close outside the box. If price successfully break out, then a range between 1.60000 - 1.64000 is in the horizon. What to look out for is where the daily candle will close today. If the psychological barrier at 1.60000 fails to break, then the double tops on both the H4, daily, weekly will come into play. This is the bigger picture!

Any long entry now is high risk business, because the long signal was given by H4, around 1.58000. If you enter a trade around that area 1.60000 is a good place to lock your profit, because H4, H1, M15 are ready for pull back.

If you miss the long train, the best option is to wait for a significant pull back. I attach relevant analysis in support of the above analyses.

Happy trading!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 444-gbpusd - daily breakout.gif Size: 17 KB
Click to Enlarge Name: 444-gbpusd - h4 breakout.gif Size: 18 KB
Click to Enlarge Name: 444-gbpusd - daily breakout2.gif Size: 18 KB
Click to Enlarge Name: 444-gbpusd - m15 breakout2.gif Size: 21 KB
  • #260,497
  • Oct 14, 2010 5:12am Oct 14, 2010 5:12am
Quoting Purple
Closed my yesterday long from 158.35 at 160.35 for 2000 USD profit. Will look to buy at dips.
congratulation...... keep up the good work and don't try to hard...the simpler the better....
  • #260,498
  • Oct 14, 2010 5:16am Oct 14, 2010 5:16am
Quoting Purple
Closed my yesterday long from 158.35 at 160.35 for 2000 USD profit. Will look to buy at dips.

welldone
  • #260,499
  • Oct 14, 2010 5:29am Oct 14, 2010 5:29am
Quoting bbakker
Ditto I got in at 1.6055 with SL at 1.6082

Daily supply from 3rd Feb 2010 with a high at 1.6068. Good arrival into the area too, so I am looking for final target of ~1.58.

Good luck!
TPs are 1.5985, 1.5905 and 1.5850.

Success with your trading. Bye!
  • #260,500
  • Oct 14, 2010 5:34am Oct 14, 2010 5:34am
I believe the price will drop down from now until around 1.30pm as there are quite a few 'Important Updates' at 1.30pm

http://www.forexfactory.com/calendar.php

Even though the 1.60 barrier needs to be successfully broken through first

That is if the 'BIG BOYS' think the Update news will be bad,,,,,,if not it will stay trending between here and the top!!!!
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