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Cable Update (GBPUSD)

  • #263,261
  • Nov 4, 2010 7:02am Nov 4, 2010 7:02am
Quoting cloggie
That is not going to happen in a million years, well at least 5 quarters. It would be absolute suicide for Mad-Merve the Swerve to raise, they can be muppets but they are not total idiots.




Any increase at this time on the back of last months numbers would be the action of a desperate currency manipulator and Merve is a lot, desperate he is not.

Both of these scenarios are the least likely ones to happen today and to be honest a facility of 225 would not see a massive drop in Cable at all just a kneejerk and a correction.
Well, that was an easy one to call.
  • #263,262
  • Nov 4, 2010 7:04am Nov 4, 2010 7:04am
Cloggie,

If you're watching, thanks alot. I took your approach and had a good win.

Turt at 6144. Got in Long @ 6155 (still at work so wasn't able to get in early.
Target was from last support or +30, giving target as 6174, held on but I came out at 6185 cos it was near 12pm and didn't want to trade news.

Don't care that it shot up without me. Just want to nail the basics first.

Done, simples.
A pip is only worth it if you know how much you risked to earn it
  • #263,263
  • Nov 4, 2010 7:06am Nov 4, 2010 7:06am
Quoting vlady1974
Cloggie,

If you're watching, thanks alot. I took your approach and had a good win.

Turt at 6144. Got in Long @ 6155 (still at work so wasn't able to get in early.
Target was from last support or +30, giving target as 6174, held on but I came out at 6185 cos it was near 12pm and didn't want to trade news.

Don't care that it shot up without me. Just want to nail the basics first.

Done, simples.

That's it, that's the way to trade. Just keep it simple find your turts and trade the action around them, find the next possibility for a range 30 pips away and take your money of the table. You only have to do that 3-4 times a day and you are onto a serious winner.

There is nothing wrong with letting the news spikes move on without you, until you get a seriously good grasp of fundamentals you would be a lot better of just trading the technicals that are easy to find.
  • #263,264
  • Nov 4, 2010 7:07am Nov 4, 2010 7:07am
Quoting vlady1974
Cloggie,

If you're watching, thanks alot. I took your approach and had a good win.

Turt at 6144. Got in Long @ 6155 (still at work so wasn't able to get in early.
Target was from last support or +30, giving target as 6174, held on but I came out at 6185 cos it was near 12pm and didn't want to trade news.

Don't care that it shot up without me. Just want to nail the basics first.

Done, simples.

I took it today too! Thak you Cloggie - I cen see how it works. I'm still long cable though buit have locked in some profit.

What are your levels on EU today?
  • #263,265
  • Nov 4, 2010 7:08am Nov 4, 2010 7:08am
Quoting cloggie
That's it, that's the way to trade. Just keep it simple find your turts and trade the action around them, find the next possibility for a range 30 pips away and take your money of the table. You only have to do that 3-4 times a day and you are onto a serious winner.

There is nothing wrong with letting the news spikes move on without you, until you get a seriously good grasp of fundamentals you would be a lot better of just trading the technicals that are easy to find.
I have not heard that expression before... what is a turt?
Today's zone = Tomorrow's opportunity!
  • #263,266
  • Nov 4, 2010 7:11am Nov 4, 2010 7:11am
lol cloggie..

it is all like taking candy from a baby and forex factory is full of billionaires trading from their mega luxury yachts... come on you must have known that

the reality is trading a new heavy week like this one is anything but easy

Quoting cloggie
Well at least your 10 pips are making up for the 667 you lost last week, now you only have to be right 70 times in a row from here on to break even.


Maybe piping down a bit and going back to basics would do no harm in your trading and your misplaced exuberance would at least keep some of the other muppets here from making the same dire and absolutely unnecessary mistakes as you continue to show here with your posts.

Over 600 posts in a couple of weeks and each and every one has been rubbish, that surely must make you stand out from the crowd...
Blogging daily now at www.volume.zone
  • #263,267
  • Nov 4, 2010 7:11am Nov 4, 2010 7:11am
Quoting cloggie
Well at least your 10 pips are making up for the 667 you lost last week, now you only have to be right 70 times in a row from here on to break even.
I'm half way there already Clogs,...do keep up at the back
  • #263,268
  • Nov 4, 2010 7:11am Nov 4, 2010 7:11am
Quoting Sammie
I took it today too! Thak you Cloggie - I cen see how it works. I'm still long cable though buit have locked in some profit.

What are your levels on EU today?
Wonderful we now have 2 winners here. Just don't get overconfident or greedy, wait for the right setups and only try to find 3-4 a day, that's an easy 100 pips a day.

The biggest action is always at the London open, they are the easiest to identify and are usually a good multiple on both fibre and cable.

I took a long on fibre at the London break and covered earlier for 120 pips, am now letting it dwindle down to 4221 or 4190 and see if she has some more in her to the top side.

We have Trichet gobbing later on about the EU purchases and possible unwinding so will be watching that closely.

This has been a good week for trading so far with nice and gently moves on both fibre and cable that were pretty easy to identify as long as you stay away from the knee jerk action in the market and stick to the technicals once the news has filtered through, don't be tempted trading the heavy sh!t unless you truly know your fundies through and through.

At the end of the day go back over the day's move and see where the news takes its runs and where you can find the right technical setups and distinguish clearly between them.
  • #263,269
  • Nov 4, 2010 7:13am Nov 4, 2010 7:13am
Quoting malcolmb14
lol cloggie..

it is all like taking candy from a baby and forex factory is full of billionaires trading from their mega luxury yachts... come on you must have known that

the reality is trading a new heavy week like this one is anything but easy
Yeah....what malcolmb said
  • #263,270
  • Nov 4, 2010 7:13am Nov 4, 2010 7:13am
Why did the GBP/USD move so much when the news was both the same as last time and the same as it was expected it would be?
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #263,271
  • Nov 4, 2010 7:15am Nov 4, 2010 7:15am
can i go short now..n expect miracle...gbpusd..1.6235
  • #263,272
  • Nov 4, 2010 7:15am Nov 4, 2010 7:15am
hi Cloggie! nice to see your post i missed your comments i have learnt alot form you keep up the good work
  • #263,273
  • Nov 4, 2010 7:16am Nov 4, 2010 7:16am
Quoting Gambler180
Why did the GBP/USD move so much when the news was both the same as last time and the same as it was expected it would be?
Because the BOE was sensible and did not go for the cheap option, confidence in the ability of the BOE to withstand the popular action.

Just be very mindful of 6235, that is the big barrier.
  • #263,274
  • Nov 4, 2010 7:17am Nov 4, 2010 7:17am
Gosh!

If that were me, I wouldn't go out for a month, I'd delete my FF account and would change my name. Well, at least not one soul can accuse you of hypocrisy.

I have to say this is such a violent way to express your point that I am nervously cracking up in front of this loads of kind words. And I'm a sadistic bastard.

On the other hand, I guess this is a great way to clean the thread up a bit, as eventually noone will have the balls to post anything anymore.

Way to go

By the way, with all the material you provided the last two days, I am now just opening a door leading to a brand new world. I worked my ass off on backreading the charts and now I can see what you're talking about, this is crazy, and simple. And much more makes sense now.

Many thanks.

Quoting cloggie
Well at least your 10 pips are making up for the 667 you lost last week, now you only have to be right 70 times in a row from here on to break even.


Maybe piping down a bit and going back to basics would do no harm in your trading and your misplaced exuberance would at least keep some of the other muppets here from making the same dire and absolutely unnecessary mistakes as you continue to show here with your posts.

Over 600 posts in a couple of weeks and each and every one has been rubbish, that surely must make you stand out from the crowd...
Hello.
  • #263,275
  • Nov 4, 2010 7:17am Nov 4, 2010 7:17am
Quoting PipChick
Yeah....what malcolmb said

PipChick youre back :-)
  • #263,276
  • Nov 4, 2010 7:17am Nov 4, 2010 7:17am
Quoting cloggie
Wonderful we now have 2 winners here. Just don't get overconfident or greedy, wait for the right setups and only try to find 3-4 a day, that's an easy 100 pips a day.

The biggest action is always at the London open, they are the easiest to identify and are usually a good multiple on both fibre and cable.

I took a long on fibre at the London break and covered earlier for 120 pips, am now letting it dwindle down to 4221 or 4190 and see if she has some more in her to the top side.

We have Trichet gobbing later on about the EU purchases and...

hi cloggie, u really shd start ur own thread on eu n gu to teach everyone.
  • #263,277
  • Nov 4, 2010 7:18am Nov 4, 2010 7:18am
Quoting pres78
I have not heard that expression before... what is a turt?

The sh!tty levels that drive the direction and form the next SR, we had a bit of fun with a few of them yesterday in a play by play that a few of us here traded live.
  • #263,278
  • Nov 4, 2010 7:19am Nov 4, 2010 7:19am
Quoting Sammie
PipChick youre back :-)
Hi Sammie, I have just been hanging out silently watching the drama unfold. lol
  • #263,279
  • Nov 4, 2010 7:20am Nov 4, 2010 7:20am
Quoting yuan83
hi cloggie, u really shd start ur own thread on eu n gu to teach everyone.

That's too much like real work, not for me. Having your own thread comes with serious commitment and responsibility. I am a trader not a teacher.
  • #263,280
  • Nov 4, 2010 7:21am Nov 4, 2010 7:21am
Done for day (again,) ....above current price 76.4% 6876-4225 @ around 6252 then Daily R2 6263, 6294 being weekly R2 area.

G/L
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