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Cable Update (GBPUSD)

  • #270,701
  • Feb 1, 2011 3:52am Feb 1, 2011 3:52am
Buy Stop Long 4 @ 1.60843 SL @ 1.61140 + 29.7 pips.
  • #270,702
  • Feb 1, 2011 3:54am Feb 1, 2011 3:54am
I heard that there is a euro/gbp buying for some hedge funds in 5 minutes from now.. this can bring sterling down a bit..
  • #270,703
  • Feb 1, 2011 3:57am Feb 1, 2011 3:57am
Quoting veer2010
I heard that there is a euro/gbp buying for some hedge funds in 5 minutes from now.. this can bring sterling down a bit..
Stering had one of its best PMI since 1992.
This increases the asumptioun of a rate hike.
Don`t do anything stupid
  • #270,704
  • Feb 1, 2011 4:34am Feb 1, 2011 4:34am
Quoting Exsilium
Buy Stop Long 4 @ 1.60843 SL @ 1.61140 + 29.7 pips.
So... Ive got an exposed short at 1.59089. The technicals seem to imply downward pressure. The problem is, the technicals have been worth .. squat. What the point of technical indicators if they are simply ignored so often.

As I write this ive got H1 and H4 RSI(14) over 70; M15 CCI over 100, H1 CCI over 200 and H4 CCI over 100; H1 Stoch hovering around 80 with H4 Stoch over 90 for well over 6 hours. Earlier there were obvious bearish divergences both in the M15 and H1. and now the MACD is showing signs of reversal across multiple TF. These are suppose to be FUNDAMENTAL technical indicators that seem to be worth absolutely nothing. Ive simply survived because Ive adopted a spread strategy, and while my balance is doing wonders, now above 50% for the month, my equity is barely breaks even. There have been times when my equity has been near my balance, but Ive been trading the signals as I see them which has been wrong more often than right.

I love the challenge, and its money I can "afford" to loose, but honestly... this is just stupid. One would think after doing this for 3 years I would have figured this out.
  • #270,705
  • Feb 1, 2011 4:35am Feb 1, 2011 4:35am
I suggest that traders shouldn't attempt to sell GU until 1.6326. It has broken out of a channel and would keep being bullish until 1.6326. Do have a nice trading day!
  • #270,706
  • Feb 1, 2011 4:38am Feb 1, 2011 4:38am
Exilisum, I sent you a PM before the news. Please read it. Thanks.
  • #270,707
  • Feb 1, 2011 4:40am Feb 1, 2011 4:40am
Sunsi,
" Stering had one of its best PMI since 1992.
This increases the asumptioun of a rate hike.
Don`t do anything stupid "

So I guess you are still Long on pound ,
after the events in Egypt ,M.East
I was expecting the USD going north sunday,
lets see how long the rally lasts on gbpusd.
  • #270,708
  • Feb 1, 2011 4:51am Feb 1, 2011 4:51am
Quoting sergen4
Sunsi,
" Stering had one of its best PMI since 1992.
This increases the asumptioun of a rate hike.
Don`t do anything stupid "

So I guess you are still Long on pound ,
after the events in Egypt ,M.East
I was expecting the USD going north sunday,
lets see how long the rally lasts on gbpusd.
What events? Are you talking about the protests?
  • #270,709
  • Feb 1, 2011 5:05am Feb 1, 2011 5:05am
Exsilium,

" ...What events? Are you talking about the protests? "


Yes, political events ,protests...
I have been watching CNBC too much maybe.
Usually when there is a political unrest, like former Korean crisis ,
USD gets stronger,
doesnot it ?
  • #270,710
  • Feb 1, 2011 5:42am Feb 1, 2011 5:42am
it's really need a bad guy to move it down..



some old trader says "enter at new candle" wew..,the fact is yesterday big money move at the end of month (before candle close),,, no wonder small money afraid to have position..,where SL should be???

if they already have much money why not let small money like us (me) to have a little income..,
I will be the number one Manager.
  • #270,711
  • Feb 1, 2011 5:54am Feb 1, 2011 5:54am
Quoting sergen4
Sunsi,
" Stering had one of its best PMI since 1992.
This increases the asumptioun of a rate hike.
Don`t do anything stupid "

So I guess you are still Long on pound ,
after the events in Egypt ,M.East
I was expecting the USD going north sunday,
lets see how long the rally lasts on gbpusd.
As long as this pair holds over 1.6030 I remain bullish. My Fisrt target point is 1.6170.
  • #270,712
  • Feb 1, 2011 6:43am Feb 1, 2011 6:43am
On the 15min and 30min timeframes.
Does anyone else see a bullflag forming?
  • #270,713
  • Feb 1, 2011 7:01am Feb 1, 2011 7:01am
Quoting Sunsi
On the 15min and 30min timeframes.
Does anyone else see a bullflag forming?
yes, you are right, but look at weekly chart - uper downslope trend line was touched


yes good setup for long, but not for me at this time because of TL.....
  • #270,714
  • Feb 1, 2011 7:02am Feb 1, 2011 7:02am
hi sunsi i saw it it is bull flag indeed
  • #270,715
  • Feb 1, 2011 7:07am Feb 1, 2011 7:07am
Quoting pipgame
yes, you are right, but look at weekly chart - uper downslope trend line was touched


yes good setup for long, but not for me at this time because of TL.....
I cant see the TL on weekly. From which point do you draw the TL ?
  • #270,716
  • Feb 1, 2011 7:09am Feb 1, 2011 7:09am
guys do you think doji in 1h means the market going to head up?
Attached Image (click to enlarge)
Click to Enlarge Name: doji.gif Size: 41 KB
  • #270,717
  • Feb 1, 2011 7:11am Feb 1, 2011 7:11am
Quoting yasi
guys do you think doji in 1h means the market going to head up?
It is a bullish indicator yes. But alone it is not enough to go long
  • #270,718
  • Feb 1, 2011 7:12am Feb 1, 2011 7:12am
Quoting Sunsi
I cant see the TL on weekly. From which point do you draw the TL ?
Attached Image (click to enlarge)
Click to Enlarge Name: gu w.gif Size: 31 KB
  • #270,719
  • Feb 1, 2011 7:20am Feb 1, 2011 7:20am
[quote=WengOn;4359228]He opened another position

16040 my fren losing USD2700 now total 4LOTS open, every single pip now USD40.

I AM SHAKING NOW, Total account USD 12K


Total 5Lot entry for this fren who onto Forex for3days, His account will experience Margin call if the price hit 16160.
I PRAY HARD, he dont experience margin call.

He treats FOREX as his own GAMBLING table.



Fibo 23.6 Never happened on to this TREND

i manually stop 2 transaction with total profit 34pips,
last transaction lost 50pips. Break out BURST me out!

I feel very tired, emotion attacked again...
i am still new to FOREX.
*Sigh*
  • #270,720
  • Feb 1, 2011 7:21am Feb 1, 2011 7:21am
Quoting pipgame
Thx
Would like this 1h close to close over 1.6017 to get some bulliush comfirmation.
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