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Cable Update (GBPUSD)

  • #279,501
  • May 18, 2011 8:06am May 18, 2011 8:06am
Quoting wiz001
hi there
can someone pm me and advise me as im 1k down with £8 per point with only 3k left ? i am buying by the way, i dont no weather to keep the trade and wait or get rid?
£8 a pip oh daymmee, you've got just over 400 pips of margin, spent around 125. If it doesn't come up to b/e by next week or b/o below 1.5950 you're gona get margined out before it turns. I reccomend either getting out now or taking 80% of it out and testing the upcoming support.

Theres a good chance I'm wrong however, I'm relatively new in trading years.

Peace and gl
  • #279,502
  • May 18, 2011 8:11am May 18, 2011 8:11am
Pop in from time to time - seem to be spreading myself a around the forums a little as of late. Yes, stuck in another hotel room, no, have no inclination to be escorted to the local station in this part of the world - that is not to say that I do not like Vietnam, indeed, it is one of my favourite stops around Asia - and although I think that the food at Ricker's is somewhat lacking, heaven knows what it would be like here in Hanoi.

Took lunch with my hosts near to where I am currently working, and as we left, a moped pulled up with a roasted dog resting in the foot space. Skin still on, paws facing the sky, and puncture mark in the chest from where, quite obviously, the spike thrust through little Rovers arse had exited, before being put on the spit of the barbeque. Dear me, I hope it was dead before it was cooked, but who knows...

Anyway, like to read some of the submissions here; TT. BBmac and so on. Would like to name more, but there is a danger of missing people, so stick with those that I have exchanged with in the past.

Anyway, short to medium is weekly to monthly - expect to drop and range for while whilst the US place their man in the IMF and Greece default - surely that cannot be far away. Been reading a lot of the social consequences of the bailout for Greece, and which is not reported too much - Herald Tribune did a good piece this week. It is awful.

Trying to pick the correct news release for big money to show its hand will be the hardest part, I feel.

Also trying to ascertain what the UK banks are doing or have done in order to limit exposure to the Euro. Come on Sterling, decouple: I may live in France, but my income is in Sterling.

Anyway, if anyone wants to profit from an 18% interest rate, or raging property market that is estimated to maintain double-digit growth for the next 5 to ten years, get in touch and I'll put you in touch - for a small commission, of course. Candidates must have at least 100k.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,503
  • May 18, 2011 8:13am May 18, 2011 8:13am
Get out and cut the loss. Easier to make back with more in the pot, and you sound as though you holding position by hope alone, and no plan.

Quoting wiz001
hi there
can someone pm me and advise me as im 1k down with £8 per point with only 3k left ? i am buying by the way, i dont no weather to keep the trade and wait or get rid?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,504
  • May 18, 2011 8:13am May 18, 2011 8:13am
Quoting wiz001
hi there
can someone pm me and advise me as im 1k down with £8 per point with only 3k left ? i am buying by the way, i dont no weather to keep the trade and wait or get rid?
1.59 it may go..but we in an area where it can turn round..dont add anymore and wait for a bullish dailly to even think about going long

i take it this is all or nothing for u..u already risk 25% on this
  • #279,505
  • May 18, 2011 8:15am May 18, 2011 8:15am
Quoting nAVIN2007
1.59 it may go..but we in an area where it can turn round..dont add anymore and wait for a bullish dailly to even think about going long
hey Nav, so is this the final down move? you know we are both dreaming for 1.66x
  • #279,506
  • May 18, 2011 8:17am May 18, 2011 8:17am
news... if the figures are not fudged, perhaps next week's GDP figure may fuel speculation of interest rate rises for the UK. I mean, we've got 'surprising' (once again) inflation numbers, and we had Merv the penny perv opening his gob about that one recently.

...5% inflation - double it mate and you'll be closer to the mark.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,507
  • May 18, 2011 8:22am May 18, 2011 8:22am
Quoting 45Condor
Greece default - surely that cannot be far away. Been reading a lot of the social consequences of the bailout for Greece, and which is not reported too much - Herald Tribune did a good piece this week. It is awful.
Greece will be fine. They'll get by without more loans, anyway. What could be worse than lending more to someone who can't pay their debts?
Gone to a better place
  • #279,508
  • May 18, 2011 8:26am May 18, 2011 8:26am
Good day to you-


Quote
Took lunch with my hosts near to where I am currently working, and as we left, a moped pulled up with a roasted dog resting in the foot space. Skin still on, paws facing the sky, and puncture mark in the chest from where, quite obviously, the spike thrust through little Rovers arse had exited, before being put on the spit of the barbeque. Dear me, I hope it was dead before it was cooked, but who knows...


Classic!

( 2 of these make for extra funny)

Good to "see" you around, sir.

My weekly shows a current extreme low @ 1.5500 and high @ 1.6800. I guess it is a case of working back through the timeframes and finding direction on the 4hr.

I do believe (still) we have a wave up on daily before we dump.

Anyway - enjoy the trip, dawg ( no pun intended)

Warm regards to you
  • #279,509
  • May 18, 2011 8:28am May 18, 2011 8:28am
Quoting sphinx8
hey Nav, so is this the final down move? you know we are both dreaming for 1.66x
not dreaming bro it will happen....it might be even turning now..only problem is everything is either sitting on support or resistance..so its basically a coin toss..

sit on yur finger and dont do nothing..the trade has gone wrong..u just have to play it out..waiting wise

this whole zone 1.61-1.59 can produce a bounce to 1.67

need a bullish pin on 4hr to kick start
  • #279,510
  • May 18, 2011 8:30am May 18, 2011 8:30am
The powers that be will not allow the European banks to lose, and so yes, the Euro will remain - for now... excess capital in the vaults, and that given to them, seems to be finding its way East.

The rich stay rich, the powerful stay seated, the blood of the poor runs in the streets as people lose all, and then are oppressed by the mercenaries of the state should public protest occur.

...doubt it has ever really been that different, and in those cases where one can claim that it has, Animal Farm springs to mind.

Quoting smikester
Greece will be fine. They'll get by without more loans, anyway. What could be worse than lending more to someone who can't pay their debts?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,511
  • May 18, 2011 8:31am May 18, 2011 8:31am
And to you, too, good sir.

Quoting TauTrader
Warm regards to you
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,512
  • May 18, 2011 8:31am May 18, 2011 8:31am
Quoting 45Condor
The powers that be will not allow the European banks to lose, and so yes, the Euro will remain - for now... excess capital in the vaults, and that given to them, seems to be finding its way East.

The rich stay rich, the powerful stay seated, the blood of the poor runs in the streets as people lose all, and then are oppressed by the mercenaries of the state should public protest occur.

...doubt it has ever really been that different, and in those cases where one can claim that it has, Animal Farm springs to mind.
u aint wrong there brother!!
  • #279,513
  • May 18, 2011 8:35am May 18, 2011 8:35am
...yes, all rather depressing, really.

Anyway, time for coffee. Hope all have a good afternoon Europe session, or morning US.

Quoting nAVIN2007
u aint wrong there brother!!
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #279,514
  • May 18, 2011 8:38am May 18, 2011 8:38am
Quoting nAVIN2007
not dreaming bro it will happen....it might be even turning now..only problem is everything is either sitting on support or resistance..so its basically a coin toss..

sit on yur finger and dont do nothing..the trade has gone wrong..u just have to play it out..waiting wise

this whole zone 1.61-1.59 can produce a bounce to 1.67

need a bullish pin on 4hr to kick start
This pair just got out of ranging markets, so I didn't have chance to SHORT because I was worried about major pullbacks, now waiting for some pullback and if it's quite weak I'll go with SHORT otherwise sit down till LONG signal is confirmed.
  • #279,515
  • May 18, 2011 8:38am May 18, 2011 8:38am
Quoting wiz001
hi there
can someone pm me and advise me as im 1k down with £8 per point with only 3k left ? i am buying by the way, i dont no weather to keep the trade and wait or get rid?
70% maybe reversal
Attached Image
  • #279,516
  • May 18, 2011 8:39am May 18, 2011 8:39am
Quoting 45Condor
...yes, all rather depressing, really.

Anyway, time for coffee. Hope all have a good afternoon Europe session, or morning US.
enjoy yur coffee

tautrader what yah seing buddy?
  • #279,517
  • May 18, 2011 8:44am May 18, 2011 8:44am
Good day to you,

Ok - back from shorting EU. Going to start building long on GU Daily. We are still in uptrend on my daily chart ( according to my personal view) and we are trading at a low extreme area.

Going to take small bits, as I need to be patient. 1/3 entry in @ 1.6137. Will add @ 1.6090 (1/3) and 1.6050 (1/3) if need be.

As said - weekly still has room to 1.5500 - but I believe we will have a wave up first.

Regards
Attached Image (click to enlarge)
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  • #279,518
  • May 18, 2011 8:49am May 18, 2011 8:49am
6320 will emerge soon..
Be a sniper not a jumper
  • #279,519
  • May 18, 2011 8:49am May 18, 2011 8:49am
Quoting nAVIN2007
enjoy yur coffee

tautrader what yah seing buddy?
Good day to you, Bro

I see sh*t... - too many dark Jamaican Rums in my system at the moment.

Nah - I see a move up first... over the next few days. Gonna take that risk. 1.6500 - 1.6600 possibly.

Keep on walking

Regards to you
  • #279,520
  • Edited 8:55am May 18, 2011 8:54am | Edited 8:55am
Yes, I know, I said I was going. I am having my coffee, but being the addict that I am, I'm back on the charts.

Just few short charts showing a test of last week's low/D-S2. Okay, the US may reverse today's move down. We did see some divergence earlier today that played out nicely to the current level.

All I'm saying is trade carefully traders.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu15.gif Size: 41 KB
Click to Enlarge Name: gu5m.gif Size: 31 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
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