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Cable Update (GBPUSD)

  • #279,001
  • May 12, 2011 5:46am May 12, 2011 5:46am
Quoting deryworlds
I see no Change and probably Bears will come....
Limit My Sold Between 6444-6497 for the week...
What Will You Expected The Weekend ?!
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  • #279,002
  • May 12, 2011 5:46am May 12, 2011 5:46am
Are we good for short now?
h4 H&S look good so far.
Life is about choosing... Long or Short... Discipline and consistency
  • #279,003
  • May 12, 2011 5:52am May 12, 2011 5:52am
I found this in my study.
Break bellow this will be a serious downtrend.
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Life is about choosing... Long or Short... Discipline and consistency
  • #279,004
  • May 12, 2011 5:59am May 12, 2011 5:59am
Hi all... Nice to meet fellow Cable traders....

opened short position @1.6331 before with TP @ 1.6231. looking for 100pips for now... maybe cable can reach 150 range before the US data..
  • #279,005
  • May 12, 2011 6:00am May 12, 2011 6:00am
Quoting sphinx8
dear RedB. what does the salad says today?

went long last night and more longs now... tanking now. hope US is $hit in 2 hrs time
still with my stupid view of 600 pips down
I have all the time in the world so my TP was as stated in the last note 1.6290 then 1.6245 then 1.6180(last stop 1.6145-66) depending if I count the fix 600 pips down or I see the real price
later we'll see

I just buy all the dips anyway
1.71-72 as next long target
  • #279,006
  • May 12, 2011 6:11am May 12, 2011 6:11am
I like your trading style but it would also ave its disadvantage, u wld tie up alot of your capital buying on the dips.... Make sense no doubt... Good luck

Quoting redbeben
still with my stupid view of 600 pips down
i have all the time in the world so my tp was as stated in the last note 1.6290 then 1.6245 then 1.6180(last stop 1.6145-66) depending if i count the fix 600 pips down or i see the real price
later we'll see

i just buy all the dips anyway
1.71-72 as next long target
  • #279,007
  • May 12, 2011 6:37am May 12, 2011 6:37am
Quoting fendi
I like your trading style but it would also ave its disadvantage, u wld tie up alot of your capital buying on the dips.... Make sense no doubt... Good luck

spot on

but look at yesterday move
a dip closed on profit already and the rest to come....as soon as we go down

and if we don't go down then the dips will be on profit

and I just keep changing the SL as soon as I am on profit
  • #279,008
  • May 12, 2011 7:03am May 12, 2011 7:03am
A lot of downside momentum. Will prob continue moving down towards the daily 200ema tomorrow after retracing to about 6320. I won't expect much action for the rest of today though, caught between support and resistance and about to hit 38.2% retracement. US news probably wont produce much reaction as we are in no mans land right now.
  • #279,009
  • May 12, 2011 7:07am May 12, 2011 7:07am
are u serious u are actually buying dips, be cause i thot you should be selling highs since you had a 600pips target!!! As much as you and i agree we av been in a dow trend from 1.6738 i view 1.6170-62 at the end game. T hen i were to place trades like i av been doing, i av been taking the swing highs and rocking the boat down.... different strategy right, though i wouldnt lie just like now, once i see a major target is hit, i swing it it to the resistance on 15m and 30m depending if breached!!!!!

kind curious

Quoting redbeben
spot on

but look at yesterday move
a dip closed on profit already and the rest to come....as soon as we go down

and if we don't go down then the dips will be on profit

and I just keep changing the SL as soon as I am on profit
  • #279,010
  • May 12, 2011 7:24am May 12, 2011 7:24am
Quoting redbeben
spot on

but look at yesterday move
a dip closed on profit already and the rest to come....as soon as we go down

and if we don't go down then the dips will be on profit

and I just keep changing the SL as soon as I am on profit
Come on dude, buying dips now?? I would wait until 6050 before riding this baby back up.
  • #279,011
  • May 12, 2011 7:24am May 12, 2011 7:24am
Any thoughts of going long are extremely irresponsible.
  • #279,012
  • May 12, 2011 7:33am May 12, 2011 7:33am
Quoting Phil Warran
Come on dude, buying dips now?? I would wait until 6050 before riding this baby back up.
how many times did you find yourself running after a speeding train?

the thing with buying the dips is as I already know where the market is heading
600 pips down that was my calculation but this is only mathematical no indie no fundies no nothing.

the upmove will be back and the next target is 1.72 so if you buy dips and have patience the price will take you there

I do not sell as I sold at the top.I still have sells in place targeting 1.57-55 as a matter of fact but not just now
I reckon this move to go down to that level I said and then up

I don't see this move going lower than 1.61 now

diff people diff strategies
this why this place is great
  • #279,013
  • May 12, 2011 7:33am May 12, 2011 7:33am
Quoting pepper
Any thoughts of going long are extremely irresponsible.
I agree. An idea for tomorrows trading: price likely to retrace off the 38.2 then break back down below todays close and head towards the daily 200ema. I will be shorting the break of todays low towards 6050. Any ideas?
  • #279,014
  • May 12, 2011 7:38am May 12, 2011 7:38am
Quoting redbeben
how many times did you find yourself running after a speeding train?

the thing with buying the dips is as I already know where the market is heading
600 pips down that was my calculation but this is only mathematical no indie no fundies no nothing.

the upmove will be back and the next target is 1.72 so if you buy dips and have patience the price will take you there

I do not sell as I sold at the top.I still have sells in place targeting 1.57-55 as a matter of fact but not just now
I reckon this move to go down to that level I said and...
Yes, thanks for that. I guess I am not used to holding trades into drawdown with such long term targets.
  • #279,015
  • May 12, 2011 7:39am May 12, 2011 7:39am
gbp/usd , my opinion : after usd economical news , as i expected , not any big or wild movement happened...
i have just opened a position 7 - 8 min before the new and then , just before the news , closed it , without any gains or losses , in a sense of consolide market... i am now expecting and waiting ,it is gonna move ,, just before and during Bernanke testifies...
the best indicator is trader's knowledge , experience and dicipline.
  • #279,016
  • May 12, 2011 7:41am May 12, 2011 7:41am
Quoting Phil Warran
I agree. An idea for tomorrows trading: price likely to retrace off the 38.2 then break back down below todays close and head towards the daily 200ema. I will be shorting the break of todays low towards 6050. Any ideas?
Hi,until i start getting higher lows,my bias is bear.
  • #279,017
  • May 12, 2011 7:52am May 12, 2011 7:52am
approaching at demand , switching to m15/m30 and wait for correction

we should run ouf of sellers for while here.
try to buy as low as possible in marked box.

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Hero calls followed by margin calls...
  • #279,018
  • May 12, 2011 9:08am May 12, 2011 9:08am
Too calm, I don't like this. I already get out with some small scalp. It's up to the rest of you, good luck guys. If this pair manage to pull down to 1.61XX we can see some pullbacks later.
  • #279,019
  • May 12, 2011 10:21am May 12, 2011 10:21am
hello
hope was a good day for all

i am not trading
i take few days to improve my setups

looking for a better way to find entries
im testing something on a demo account... lets see if goes!!
90% of traders use TA, indicators and prediction
  • #279,020
  • May 12, 2011 10:38am May 12, 2011 10:38am
this is a screen about
red rectangle is london openings (antGUbreakout indicator -1h +1h to london openings)
blue line is 60 ema
white is 200 ema
macd is macd

when price breakes out of rectangle is signal for open the position
can also use sell stop or buy stops
the rectangle most of times loads upper n lower lines on supports n resistances lines. (today 6300-6360...)

when emas refuses price is another signal to open position

i found all these around the ffactory forums n added macd n ema's
doesn't matter news. price is the only thing to watch out there.....

i prefer to add this to my whole picture study as a confirmation and helpful thing to go into the market. because the hardest thing here is to decide to get the position or not to get it!
that's all
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90% of traders use TA, indicators and prediction
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