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Cable Update (GBPUSD)

  • #304,361
  • Mar 21, 2012 4:03am Mar 21, 2012 4:03am
Quoting smikester

I have just set a short, 1.5845, SL 1.5891, TP1 1.5802, TP2 1.5714 off of of the last bearish candle.
Good morning everybiddlyboddy. I'm short here, trying again, tight stop loss (20 pips)
Gone to a better place
  • #304,362
  • Mar 21, 2012 4:12am Mar 21, 2012 4:12am
Quoting smikester
Good morning everybiddlyboddy. I'm short here, trying again, tight stop loss (20 pips)
yeah, i would like to do that to.. but i guess i'll wait till proper 4h candle formation first.. i guess you will have better price than me if the move happen at this time eh..

good luck and green pips mate..
  • #304,363
  • Mar 21, 2012 4:18am Mar 21, 2012 4:18am
Quoting A-speculator
i did go long, but not holding it since if you see in weekly, although we have long shadow candle, overall the price is still making lower high, so i'm more to bearish than bullish.

i do expect this major retracement and at current price level, i think it's best to position for short unless proven otherwise so i'm not holding my long position anymore and looking for short opportunity rather than long, as you see it, we are at the resistance level, right? so long to me is out of equation and perhaps if it breaks upside, i will enter on the retest.....
interesting..i see the opposite but thats just trading for u..be lucky
  • #304,364
  • Mar 21, 2012 4:18am Mar 21, 2012 4:18am
Quoting cytek
Cable just hit 1.592 sorry Bro.

This thing is basically doing the exact opposite of what the charts say it should. They should switch names and rather call this pair the Loonie!
it's ok mate.. i have several other positions besides cable, other pairs seems more easier and less whipsaw than cable.. anyway it's just 16pips of loss, hopefully can be recovered in my next position on cable.. 16pips of loss is easier to recover than 160pips of loss eh..
  • #304,365
  • Mar 21, 2012 4:23am Mar 21, 2012 4:23am
Quoting nAVIN2007
interesting..i see the opposite but thats just trading for u..be lucky
i think i understand what you're trying to say mate.. please correct me if i'm wrong, the reason why you're biased towards bullish because you're assuming the shadows will bring more upside, right?

for me, i will get to bullish sentiment, if we make higher high or higher low from the overall PA. See, you are basing your assumption based on individual candles and i am basing on series of candles. i might get on later than you in positioning in the market but i think for me it's more safer that way since we are talking in weekly range and not the shorter TF and i don't like to be in deep drawdown for a long time.. imho.
  • #304,366
  • Mar 21, 2012 4:26am Mar 21, 2012 4:26am
Quoting A-speculator
yeah, i would like to do that to.. but i guess i'll wait till proper 4h candle formation first.. i guess you will have better price than me if the move happen at this time eh..

good luck and green pips mate..
Thanks. Another 4 hour (from now) would give a much safer entry but less R:R. I like speculative entries but rarely post them as so often break even or small loss - doesn't look too good.
Gone to a better place
  • #304,367
  • Mar 21, 2012 4:30am Mar 21, 2012 4:30am
Long time since those dizzying heights. Wonder who'd benefit?
  • #304,368
  • Mar 21, 2012 4:32am Mar 21, 2012 4:32am
Quoting smikester
Thanks. Another 4 hour (from now) would give a much safer entry but less R:R. I like speculative entries but rarely post them as so often break even or small loss - doesn't look too good.
there you go.. congrats for your position mate.. anyway it's still a long way down, so i think R:R should be quite good..
  • #304,369
  • Mar 21, 2012 4:33am Mar 21, 2012 4:33am
GBP data was a lot worse than the forecast predicted. I blinked and I'm up 60 pips.
  • #304,370
  • Mar 21, 2012 4:35am Mar 21, 2012 4:35am
There goes putting the tax allowance up in smoke
  • #304,371
  • Mar 21, 2012 4:35am Mar 21, 2012 4:35am
Quoting C5fx
GBP data was a lot worse than the forecast predicted. I blinked and I'm up 60 pips.
it that true?.. i wonder why the data turn out to be that way? conveniently when we are at the resistance eh..

i tell u, it's a scam, you know..
  • #304,372
  • Mar 21, 2012 4:38am Mar 21, 2012 4:38am
Quoting A-speculator
it that true?.. i wonder why the data turn out to be that way? conveniently when we are at the resistance eh..

i tell u, it's a scam, you know..
Hey, any scam that puts monster pips in the bank I can get behind
  • #304,373
  • Mar 21, 2012 4:39am Mar 21, 2012 4:39am
Quoting A-speculator
it that true?.. i wonder why the data turn out to be that way? conveniently when we are at the resistance eh..

i tell u, it's a scam, you know..

no scam it is in the charts......see my post from earlier....

http://www.forexfactory.com/showthre...37#post5495037
I don't trust any move - when you have profit...take it.
  • #304,374
  • Mar 21, 2012 4:40am Mar 21, 2012 4:40am
Quoting nAVIN2007
interesting..i see the opposite but thats just trading for u..be lucky


http://www.forexfactory.com/showthre...41#post5495041
I don't trust any move - when you have profit...take it.
  • #304,375
  • Mar 21, 2012 4:40am Mar 21, 2012 4:40am
H&S in 30m tf?
  • #304,376
  • Mar 21, 2012 4:40am Mar 21, 2012 4:40am
Quoting Faller
no scam it is in the charts......see my post from earlier....

http://www.forexfactory.com/showthre...37#post5495037
i'm just joking mate.. i did said in my earlier post that we ought to get a negative number because of the price level which was at the resistance..
  • #304,377
  • Mar 21, 2012 4:42am Mar 21, 2012 4:42am
No positioning for the moment. I would want to see it lower to place some LONG. I think we will still see bulls reigning for the moment. GBP/USD and EUR/USD is not on my favourite list for now.
  • #304,378
  • Mar 21, 2012 4:43am Mar 21, 2012 4:43am
Quoting A-speculator
i'm just joking mate.. i did said in my earlier post that we ought to get a negative number because of the price level which was at the resistance..


I don't trust any move - when you have profit...take it.
  • #304,379
  • Mar 21, 2012 4:43am Mar 21, 2012 4:43am
Quoting A-speculator
i think i understand what you're trying to say mate.. please correct me if i'm wrong, the reason why you're biased towards bullish because you're assuming the shadows will bring more upside, right?

for me, i will get to bullish sentiment, if we make higher high or higher low from the overall PA. See, you are basing your assumption based on individual candles and i am basing on series of candles. i might get on later than you in positioning in the market but i think for me it's more safer that way since we are talking in weekly range and not the...

i working of a bigger picture..yearly and quarterly time frames so i dont expect it to happen quick..if at all it even happens on the quarterly i see a traingle (potential bear flag)..i trading it to touch top line which is approx 1.65
  • #304,380
  • Mar 21, 2012 4:52am Mar 21, 2012 4:52am
nasty one hour chart and candle stick...
Attached Image (click to enlarge)
Click to Enlarge Name: Chart of GLOBEX~@6BM2.jpg Size: 130 KB
I don't trust any move - when you have profit...take it.
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