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Cable Update (GBPUSD)

  • #304,661
  • Mar 22, 2012 5:19am Mar 22, 2012 5:19am
Quoting Rasi
Good luck with your trade. My trade is already at BE.
yeah.. i forgot to cancel the PO when it's making the low..
  • #304,662
  • Mar 22, 2012 5:23am Mar 22, 2012 5:23am
that fall just now is fundamentally influenced right?
Correct me please :nerd:
I trade to live
  • #304,663
  • Mar 22, 2012 5:25am Mar 22, 2012 5:25am
Quoting smikester
No. I have completely "lost the plot" with that pair. I can't go long into what I consider to be a bear flag and the lower TL (which now sits at .8300) has been violated a few times. It's taking the mickey.
that pair actually has a confusing PA atm.. pretty scary for short looking at daily, unless we got a clear breakout of the lows.. atm i have short position for that pair which i forgot to cancel SL is at 8348..
  • #304,664
  • Mar 22, 2012 5:32am Mar 22, 2012 5:32am
sometimes difficult to say what caused the market to buy or sell something...ie price had sold off it's current daily hi and was coming down before the Uk retail sales data release saw a continued sell £ knee-jerk reaction...what caused the sell off before it ? More sellers than buyers - trite as though that answer is - that is the only answer we need as technical traders because that allows us to see what the trends/sentiment is per t/f and where the previous near-term historical imbalances of demand over supply and supply over demand are. From this info - with a edge - we can see what the greater probability is for future near-term price direction - when that edge sets-up.

G/L

Quoting UbuFamily
that fall just now is fundamentally influenced right?
Correct me please :nerd:
ex member
  • #304,665
  • Mar 22, 2012 5:33am Mar 22, 2012 5:33am
Quoting UbuFamily
that fall just now is fundamentally influenced right?
Correct me please :nerd:
Dollar strength across the board... USA turning out better figures... Europe and the UK still churning out poor figures. There. Said it all in 11 words. BBmac said it better though. At least he sounds as though he knows what he is talking about.
Gone to a better place
  • #304,666
  • Mar 22, 2012 5:34am Mar 22, 2012 5:34am
I'll be afk... atm waiting for 8.30pm gmt+8 for employment reports

Adios!
I trade to live
  • #304,667
  • Mar 22, 2012 5:37am Mar 22, 2012 5:37am
Quoting bbmac
sometimes difficult to say what caused the market to buy or sell something...ie price had sold off it's current daily hi and was coming down before the Uk retail sales data release saw a continued sell £ knee-jerk reaction...what caused the sell off before it ? More sellers than buyers - trite as though that answer is - that is the only answer we need as technical traders because that allows us to see what the trends/sentiment is per t/f and where the previous near-term historical imbalances of demand over supply and supply over demand are. From...
Thanks for your kind explaination buddy...gotta go home now will continue chat later...
I trade to live
  • #304,668
  • Mar 22, 2012 5:39am Mar 22, 2012 5:39am
Quoting smikester
Dollar strength across the board... USA turning out better figures... Europe and the UK still churning out poor figures. There. Said it all in 11 words. BBmac said it better though. At least he sounds as though he knows what he is talking about.
Both of u are a great trader bro...no one can deny that for sure...I gotta go now...before logging out, let me add a vouch for u and bbmac..

ByeBye

Happy Prosperous Trading All!
I trade to live
  • #304,669
  • Mar 22, 2012 6:07am Mar 22, 2012 6:07am
negative gdp for Ireland

Irish GDP SA (Q4) Q/Q -0.2% vs. Exp. 1.0% (Prev. -1.9%, Rev. -1.1%)

EU Data

Irish GDP SA (Q4) Y/Y 0.7% vs. Exp. 2.2% (Prev. -0.1%)
Irish Current Account Balance Q4 796mln vs. Prev. 850mln
Source: RTRS
Thu, 07:00 22-03-2012
I don't trust any move - when you have profit...take it.
  • #304,670
  • Mar 22, 2012 6:08am Mar 22, 2012 6:08am
I hope you folks are having fun playing with your diamond

Attached Image (click to enlarge)
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Damn, it took a long time to form
  • #304,671
  • Mar 22, 2012 6:14am Mar 22, 2012 6:14am
Quoting Likerty
Where is average daily range at????
The average over the last how many days? Over 14 days it is 113 pips.

Anyway. Looks like we are retesting 1.58. Could retest 1.5821? I'm looking to add shorts to the bottom of this head and shoulders formation.
Gone to a better place
  • #304,672
  • Mar 22, 2012 6:20am Mar 22, 2012 6:20am
hello every1
let's spend 2 seconds of silence all together after the epic bad european data today!

ok 2 seconds gone.

now we can all together laugh in the face of the MErkel and Sarlozy "the north european stronger economy: france and germany!" .... ahahhaah

bybye good luck every1
90% of traders use TA, indicators and prediction
  • #304,673
  • Mar 22, 2012 6:24am Mar 22, 2012 6:24am
Short Limit!
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  • #304,674
  • Mar 22, 2012 6:33am Mar 22, 2012 6:33am
retrace?
just my opinian
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  • #304,675
  • Mar 22, 2012 6:47am Mar 22, 2012 6:47am
Quoting smikester
That's why I deleted my post. Jumping to stupid conclusions..
i was out of line thou..no worries friend


i posted a chart ages ago.i just saw on the demo platform..cable is rigged with support and resistance making it quite a task to manage it
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  • #304,676
  • Mar 22, 2012 6:48am Mar 22, 2012 6:48am
one word of advice for all on this thread...

DO NOT FOLLOW ANYBODY BUT YOURSELF...

all traders have their own plan, they may looking at different timeframes, they may have huge accounts, playing small lots, various stop loss orders...

so if you wish to succeed, then you need to make your own plan and look at your own resources...

if you lose money following someone, its your own stupidity...rather than spend hours reading here, spends houring looking at the charts...

its all there...just need to figure out how ur gonna take your slice of the pie without getting your fingers burnt...so appropiate targets and stoplosses
  • #304,677
  • Mar 22, 2012 6:50am Mar 22, 2012 6:50am
Quoting monkey@forex
one word of advice for all on this thread...

DO NOT FOLLOW ANYBODY BUT YOURSELF...

all traders have their own plan, they may looking at different timeframes, they may have huge accounts, playing small lots, various stop loss orders...

so if you wish to succeed, then you need to make your own plan and look at your own resources...

if you lose money following someone, its your own stupidity...rather than spend hours reading here, spends houring looking at the charts...

its all there...just need to figure out how ur gonna take your slice...
  • #304,678
  • Mar 22, 2012 6:52am Mar 22, 2012 6:52am
Quoting monkey@forex
one word of advice for all on this thread...

DO NOT FOLLOW ANYBODY BUT YOURSELF...

all traders have their own plan, they may looking at different timeframes, they may have huge accounts, playing small lots, various stop loss orders...

so if you wish to succeed, then you need to make your own plan and look at your own resources...

if you lose money following someone, its your own stupidity...rather than spend hours reading here, spends houring looking at the charts...

its all there...just need to figure out how ur gonna take your slice...
Very good advice. It was more than one word, though. Sorry to be pedantic, but I have 7 little grey men in long overcoats following me round correcting everything I do or say.
Gone to a better place
  • #304,679
  • Mar 22, 2012 6:52am Mar 22, 2012 6:52am
Quoting smikester
The average over the last how many days? Over 14 days it is 113 pips.

Anyway. Looks like we are retesting 1.58. Could retest 1.5821? I'm looking to add shorts to the bottom of this head and shoulders formation.
Ouhh, it's much to late now - didn't exited on time so watching now my greenies deteriorating. I know it will resume soon - it's just hard to monitor everything at once (Just jumped out of EUR/USD and finded that GBP is near it's highs)..
69
  • #304,680
  • Mar 22, 2012 6:57am Mar 22, 2012 6:57am
Quoting Likerty
Ouhh, it's much to late now - didn't exited on time so watching now my greenies deteriorating. I know it will resume soon - it's just hard to monitor everything at once (Just jumped out of EUR/USD and finded that GBP is near it's highs)..
i think it's still too soon to add on cable.. it has not make any retracement yet on 4h..
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