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Cable Update (GBPUSD)

  • #313,081
  • May 14, 2012 11:19pm May 14, 2012 11:19pm
I say woooop de doooo da.......very weak move up - oh Germany has GDP of .5% - we are on fire!!!!! Recession gone!!!!! woot!!!! Oh wait.....Greece.....Spain.......ahhh Italy Banks downgraded......uhhhhh???

I don't trust any move - when you have profit...take it.
  • #313,082
  • May 14, 2012 11:20pm May 14, 2012 11:20pm
Quoting Faller
nah missed the move....I was hungry it is 2am here.....so I went and BBQ'd up a cheese sausage!!!!
it's ok mate, once we has confirmed closed above 6115 and follow thru, perhaps can reenter at 6115 on retracement.. still lots of time for that to happen.. no need to rush..
  • #313,083
  • May 14, 2012 11:22pm May 14, 2012 11:22pm
Quoting A-speculator
it's ok mate, once we has confirmed closed above 6115 and follow thru, perhaps can reenter at 6115 on retracement.. still lots of time for that to happen.. no need to rush..

oh trust me....I am in no hurry......I actually may go to bed for a bit here......the market is waiting for something.......and it is not the GDP numbers.......just my thought.

Faller.
I don't trust any move - when you have profit...take it.
  • #313,084
  • May 14, 2012 11:25pm May 14, 2012 11:25pm
Quoting Faller
oh trust me....I am in no hurry......I actually may go to bed for a bit here......the market is waiting for something.......and it is not the GDP numbers.......just my thought.

Faller.
yeah.. it's not even at 6115 yet.. lol. i think after you wake up still has a lot of chances to enter.. let cable do its thing first..

have a good dream mate.
  • #313,085
  • May 14, 2012 11:29pm May 14, 2012 11:29pm
if mid-term bottom is set on fiber then i'm looking for a valid reversal on fiber, so i'm looking on the daily candle reversal pattern before entering position.. might take few days for that to happen.. no rush..

cable on the other hand, i'm looking for a sustainable PA above 6115 before thinking of planning on an entry.. no rush here too..
  • #313,086
  • May 14, 2012 11:29pm May 14, 2012 11:29pm
Quoting Faller
You could sell some more to average your position - or you could close and take the loss and re-enter later......or you can "hope" and "pray" -

Good luck with the position -

Faller
I want a better average but I will wait for a better price. I think Cable can rise to 1.6130. That is my price. I put my stops to 1.6154.
We saw yesterday that GBP doesnt correlated with the USD index but today we have two GBP fundamentals, so I "pray" for a worse Trade B.
"Study the past if you would define the future." Confucius
  • #313,087
  • May 14, 2012 11:33pm May 14, 2012 11:33pm
Quoting littlemole
I want a better average but I will wait for a better price. I think Cable can rise to 1.6130. That is my price. I put my stops to 1.6154.
We saw yesterday that GBP doesnt correlated with the USD index but today we have two GBP fundamentals, so I "pray" for a worse Trade B.
cable doesn't correlate very well with DX, it might have some correlation but DX better suit fiber rather than cable.

cable better correlate with loonie imho..
  • #313,088
  • May 14, 2012 11:39pm May 14, 2012 11:39pm
Quoting Faller
I think this forum is slowly fading away......many people do not care to post anymore......
no we are still here lurking, yesterdays break out nothward did give me a WTF moment but looking at the chart its just testing previous support in the 6110 area , i hope this now holds so that i can eventually get out of my string of shorts clustered around 5974 .
  • #313,089
  • May 14, 2012 11:56pm May 14, 2012 11:56pm
I am still holdng my short @.6052
Loosening is not an option
  • #313,090
  • May 14, 2012 11:57pm May 14, 2012 11:57pm
Quoting Vilkas
I am still holdng my short @.6052
where's your stop loss?
  • #313,091
  • May 14, 2012 11:58pm May 14, 2012 11:58pm
Quoting Prosac_100Mg
no we are still here lurking, yesterdays break out nothward did give me a WTF moment but looking at the chart its just testing previous support in the 6110 area , i hope this now holds so that i can eventually get out of my string of shorts clustered around 5974 .
I hope too. While they doesnt solve the situation in EU, Cable should "respect" the descending trend (from apr 29). But if London opens with a price of 1.6115 or above then all we can do is pray or close
"Study the past if you would define the future." Confucius
  • #313,092
  • May 14, 2012 11:59pm May 14, 2012 11:59pm
SL is @ 1.6121
Loosening is not an option
  • #313,093
  • May 15, 2012 12:00am May 15, 2012 12:00am
Quoting littlemole
I hope too. While they doesnt solve the situation in EU, Cable should "respect" the descending trend (from apr 29). But if London opens with a price of 1.6115 or above then all we can do is pray or close
other than that look for loonie, if loonie able to trade sustainably below 1.0 level and 4h has a confirmed breakout of 9990 price level, i think cable will be able to trade above 6115 level. imho.
  • #313,094
  • May 15, 2012 12:00am May 15, 2012 12:00am
im long at 1.6095, t/p 1.6160
  • #313,095
  • May 15, 2012 12:00am May 15, 2012 12:00am
Quoting Vilkas
SL is @ 1.6121
Good luck!
"Study the past if you would define the future." Confucius
  • #313,096
  • May 15, 2012 12:01am May 15, 2012 12:01am
Quoting Vilkas
SL is @ 1.6121
you'll be alright then, at least you have a stop loss..
  • #313,097
  • May 15, 2012 12:01am May 15, 2012 12:01am
Quoting littlemole
Good luck!
U never know
Loosening is not an option
  • #313,098
  • May 15, 2012 12:02am May 15, 2012 12:02am
Quoting A-speculator
other than that look for loonie, if loonie able to trade sustainably below 1.0 level and 4h has a confirmed breakout of 9990 price level, i think cable will be able to trade above 6115 level. imho.
Can u send me some information or link about loonie-sterling correlation?
Thx
"Study the past if you would define the future." Confucius
  • #313,099
  • May 15, 2012 12:05am May 15, 2012 12:05am
Another long term perspective
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade59gif.gif Size: 15 KB
Come with me if you want to live....
  • #313,100
  • May 15, 2012 12:07am May 15, 2012 12:07am
Quoting PoundTrader
im long at 1.6095, t/p 1.6160
ok i close this trade, waiting for another set-up
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