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Cable Update (GBPUSD)

  • #269,561
  • Jan 21, 2011 8:06am Jan 21, 2011 8:06am
Quoting chazzle
Wow bbakker - how'd you do that? Your very appearance is the harbinger of volatility

Now -6 on the day +94 on the week

How have you been mate? What have you been trading?
Nothing much as I have been back to class this week. All good stuff.

We have hit a supply zone. I expected a reaction around 1.6. Let's see if it can take out yesterday's high. Just watching at the moment, but I am short biased unless the highs get taken out!
  • #269,562
  • Jan 21, 2011 8:09am Jan 21, 2011 8:09am
Quoting Ctic
To continue this discussion I read an article we had the worst GBP retail sales as of late and yet look at her fly. So like I keep saying........news doesn't mean shit.
I really don't know how news traders make money in Forex! I suppose the masses follow the news and trade it which means that the big institutions take the opposite sides to take their hard-earned cash from them. One of my Forex supply and demand laws!
  • #269,563
  • Jan 21, 2011 8:10am Jan 21, 2011 8:10am
Quoting bbakker
I really don't know how news traders make money in Forex! I suppose the masses follow the news and trade it which means that the big institutions take the opposite sides to take their hard-earned cash from them. One of my Forex supply and demand laws!
thats true
  • #269,564
  • Jan 21, 2011 8:12am Jan 21, 2011 8:12am
Quoting bbakker
Nothing much as I have been back to class this week. All good stuff.

We have hit a supply zone. I expected a reaction around 1.6. Let's see if it can take out yesterday's high. Just watching at the moment, but I am short biased unless the highs get taken out!
Missed the short! Oh well... still bullish in my opinion, but we have several supply levels above us that need to be taken out if this thing wants to go any higher. The higher timeframes (h4 and above) show that bulls are still in control, but we are back in the consolidation stage.
  • #269,565
  • Jan 21, 2011 8:13am Jan 21, 2011 8:13am
Quoting chazzle
You could say "set a SL"
GOD save me...,my light turn on at the right time...,almost lose all my SL, but still lose...17 pips..,well atleast not all, 30 pips

my light is good...but now i don't have idea to trade..,



just happy weekend to you all...
I will be the number one Manager.
  • #269,566
  • Jan 21, 2011 8:18am Jan 21, 2011 8:18am
Quoting 21vs7
overall I am bearish GBP today. We saw a lot of GBP selling on the market on UK open and over the day. Im short also GBPAUD on 1.6122.
I was short on GBPAUD yesterday from 1.6150 with my SL at 1.6183. Missed by TP1 yesterday by 15 pips. The GBPCAD was the better short with a double top and it would have reached my 1st TP, but I chose GBPAUD! Both are still showing bullish signs on h1. 1.6065 on GBPAUD needs to be broken!
  • #269,567
  • Jan 21, 2011 8:20am Jan 21, 2011 8:20am
Quoting javapips
GOD save me...,my light turn on at the right time...,almost lose all my SL, but still lose...17 pips..,well atleast not all, 30 pips

my light is good...but now i don't have idea to trade..,



just happy weekend to you all...
All the best JP - glad only 17!

And thanks GM your opinions are gold...

See you all later
  • #269,568
  • Jan 21, 2011 8:22am Jan 21, 2011 8:22am
Quoting bbakker
Missed the short! Oh well... still bullish in my opinion, but we have several supply levels above us that need to be taken out if this thing wants to go any higher. The higher timeframes (h4 and above) show that bulls are still in control, but we are back in the consolidation stage.
Glad I didn't take the short... Don't want to stand in the way of a speeding train. Will NY take this higher or lower, that is the Q for this afternoon!
  • #269,569
  • Jan 21, 2011 8:30am Jan 21, 2011 8:30am
Trying to forget....

My biased is toward shorting but I just couldn't figure out how to position myself last night so, I went to bed just to wake up to a huge shot up. Sometimes I feel as if I made money by not losing and I feel happy for not losing so much.

The feds US are manipulating the market to the point that the trust level will no longer be with the USD currency and others. Traders will eventually find, at least to a degree, integrity in a currency and that will be the new prime valuation. China is to blame as well. I'm sure their is a whole lot of blame to go around but I'm tired of hearing good news on the USD and bad news on EUR that results in opposite valuations.

Maybe we are going for one world currency.
Taigen Profit This Month: na
  • #269,570
  • Jan 21, 2011 8:31am Jan 21, 2011 8:31am
Big bears close their shorts before Monday. So, we can go long today.
What do you think?
  • #269,571
  • Jan 21, 2011 8:32am Jan 21, 2011 8:32am
Quoting Taigen
Trying to forget....

My biased is toward shorting but I just couldn't figure out how to position myself last night so, I went to bed just to wake up to a huge shot up. Sometimes I feel as if I made money by not losing and I feel happy for not losing so much.

The feds US are manipulating the market to the point that the trust level will no longer be with the USD currency and others. Traders will eventually find, at least to a degree, integrity in a currency and that will be the new prime valuation. China is to blame as well. I'm sure their is...
Chinese and Russians are already in talks...
  • #269,572
  • Jan 21, 2011 8:35am Jan 21, 2011 8:35am
Quoting rome777
Big bears close their shorts before Monday. So, we can go long today.
What do you think?
Not for me! I certainly don't base my trading on guess work. Who are 'big bears' and how do you know they are holding shorts and if so why would they close them before Monday? I see no logical reasoning behind your statement.
  • #269,573
  • Jan 21, 2011 8:53am Jan 21, 2011 8:53am
Quoting bbakker
Not for me! I certainly don't base my trading on guess work. Who are 'big bears' and how do you know they are holding shorts and if so why would they close them before Monday? I see no logical reasoning behind your statement.
so base on what sir?? if you have S/R and price in that area and turn around like you ......... , so what you do?

fill the blank spot with a proper answer. (quis no 1)


btw i want to know also who is the big bears???
I will be the number one Manager.
  • #269,574
  • Jan 21, 2011 9:06am Jan 21, 2011 9:06am
Quoting javapips
so base on what sir?? if you have S/R and price in that area and turn around like you ......... , so what you do?

fill the blank spot with a proper answer. (quis no 1)


btw i want to know also who is the big bears???
We have not been able to take our previous day's high for the last 3 days. Plenty of fresh supply levels between 1.6000-1.6093. Current PA tells me bull momentum is slowing down. I am already short!

BTW, I am shit at quizzes!
  • #269,575
  • Jan 21, 2011 9:16am Jan 21, 2011 9:16am
Quoting bbakker
We have not been able to take our previous day's high for the last 3 days. Plenty of fresh supply levels between 1.6000-1.6093. Current PA tells me bull momentum is slowing down. I am already short!

BTW, I am shit at quizzes!
so you may follow my class next year kid.., you got E for this quiz.
hihihihi..,

ok,ok, this one is serious , who give supply and who give the Demand?? you wormy? Magix? Dr D, Malcolm? or who?
I will be the number one Manager.
  • #269,576
  • Jan 21, 2011 9:19am Jan 21, 2011 9:19am
Hi there,

I still hold the longs I have there will be a cross on the 4H as for a long.acc to what I am using (Ichimocku)a cross above the kumo cloud will rocket the price....
be patient as the price will go a bit up and then a bit down but it will hit the 1.6290
and on the 4h RSI still did not hit the 70 level.

or maybe this is what I want to see on the charts
  • #269,577
  • Jan 21, 2011 9:19am Jan 21, 2011 9:19am
Quoting javapips
so you may follow my class next year kid.., you got E for this quiz.
hihihihi..,

ok,ok, this one is serious , who give supply and who give the Demand?? you wormy? Magix? Dr D, Malcolm? or who?
lol

Sam Seiden!

If you want to know more about the laws of supply and demand visit priceaction's thread at http://www.forexfactory.com/showthread.php?t=255586

Review the 1st post that has all the information and links!

There she sinks...
  • #269,578
  • Jan 21, 2011 9:25am Jan 21, 2011 9:25am
I like this trade, even though it is Freaky Friday
Quoting bbakker
We have not been able to take our previous day's high for the last 3 days. Plenty of fresh supply levels between 1.6000-1.6093. Current PA tells me bull momentum is slowing down. I am already short!

BTW, I am shit at quizzes!
Attached Image (click to enlarge)
Click to Enlarge Name: possible short gbp.gif Size: 24 KB
  • #269,579
  • Jan 21, 2011 9:49am Jan 21, 2011 9:49am
Quoting bbakker
lol

Sam Seiden!

If you want to know more about the laws of supply and demand visit priceaction's thread at http://www.forexfactory.com/showthread.php?t=255586

Review the 1st post that has all the information and links!

There she sinks...
Bulls are not letting go of this one. Already out with a small profit!
  • #269,580
  • Jan 21, 2011 9:50am Jan 21, 2011 9:50am
That's it for me! Have a nice weekend all!
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