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Cable Update (GBPUSD)

  • #323,001
  • Aug 29, 2012 9:32am Aug 29, 2012 9:32am
even with the sharp rejection of the 1.5807 I would not trust this upmove to last long

a better long entry would be 1.5795 or 1.5750

or better stand aside as tmr is not Friday and market will try to price in a possible QE or non possible QE ....so it will either rally or not rally

don't get caught in this mess

and ESM not getting a licence so EU will go to the TP2 and TP3 and drag GU with it ...probably
  • #323,002
  • Aug 29, 2012 10:07am Aug 29, 2012 10:07am
Quoting redbeben

or better stand aside as tmr is not Friday and market will try to price in a possible QE or non possible QE ....so it will either rally or not rally

don't get caught in this mess
Think your right about the mess.
waiting for friday, should be able to more confidently catch at least 50 pips while listening to Ben, i read that this will be a live event so i will be sitting by the TV with pending orders each direction.

Im still trying to work out the likelihood that friday will set the trend for the next week or two and maybe be worth alot more than 50-80 pips.
Money never sleeps...
  • #323,003
  • Aug 29, 2012 10:51am Aug 29, 2012 10:51am
Quoting gavalar
Well thats worked so far 35 pips tp on way down. now long @ 1.582 sl 1.581looking for 1.585
Closed 1.5845....
  • #323,004
  • Aug 29, 2012 11:53am Aug 29, 2012 11:53am
Quoting inpatient
Think your right about the mess.
waiting for friday, should be able to more confidently catch at least 50 pips while listening to Ben, i read that this will be a live event so i will be sitting by the TV with pending orders each direction.

Im still trying to work out the likelihood that friday will set the trend for the next week or two and maybe be worth alot more than 50-80 pips.

here's the story.....as I know it as I migt be a bit older in this industry...no offence just trying to help.

I was a sports trader and traded millions on one bet and sometimes up to 4 games at a time.there were punters on the pitch betting from the mobile phones.as soon as the goals occured they were placing late bets as by the time the camera recorded the action,by the time it was sent from the camera to the mobile studio,travelled to the satelite and back to the TV station and broadcasted to the TV I was watching 5 seconds passed and the company had huge looses....this is why we normally would have one agent on the stadium with the phone to shout all the important actions before we see them on TV....

later some phone buzzers were introduced on the stadiums to stop this late betting


in currency trading,some companies invested millions in software and they sell this for 30-50 k per month just for some miliseconds advantege on news release...this will give you the edge and make you win....

how do you think price moves 1 min or sec before an important news ? insiders ? that too,
fast software....definitely


so,watching Ben on TV will do no good in a high volatility market.

safest way to approach this is to stand aside till monday.leave some time for the market to digest the news and act later.

remember Draghi's comments and spike up and 2 days later to fall back....it all depends on which side you anticipate the spike will go.
  • #323,005
  • Aug 29, 2012 12:19pm Aug 29, 2012 12:19pm
I have already learnt that you can make or lose huge sums on big news day having done both and it is the easiest way to give your money back to the market, having done that as well. And as we all know, the market doesn't go the same way as you think it would with the news that goes out.

What I sometimes do is pick one way and use a very tight sl, wait for the retrace and then get in. You can either pick up some nice profit or lose just a small amount with your sl.

Profit nearly made for week so will probably take your advice and enjoy a nice long week end...bit of lunch, beach, golf etc

Quoting redbeben
here's the story.....as I know it as I migt be a bit older in this industry...no offence just trying to help.

I was a sports trader and traded millions on one bet and sometimes up to 4 games at a time.there were punters on the pitch betting from the mobile phones.as soon as the goals occured they were placing late bets as by the time the camera recorded the action,by the time it was sent from the camera to the mobile studio,travelled to the satelite and back to the TV station and broadcasted to the TV I was watching 5 seconds passed and the company...
  • #323,006
  • Aug 29, 2012 12:39pm Aug 29, 2012 12:39pm
Quoting gavalar
I have already learnt that you can make or lose huge sums on big news day having done both and it is the easiest way to give your money back to the market, having done that as well. And as we all know, the market doesn't go the same way as you think it would with the news that goes out.

What I sometimes do is pick one way and use a very tight sl, wait for the retrace and then get in. You can either pick up some nice profit or lose just a small amount with your sl.

Profit nearly made for week so will probably take your advice and enjoy...

take what you have and leave it for next week.enjoy august beach .

there will be other trading days.

to be honest now I only trade small lots of 0.10 max 0.50 on very sure moves as I need 12th of sept to pass.....so till mid sept no more standard lots or stupid moves.

cheers and have a cold beer
  • #323,007
  • Aug 29, 2012 1:05pm Aug 29, 2012 1:05pm
Bears and bulls at equilibrium. The same place when the news came out. Looking forward to tomorrow's European session. Volatility will come back. Still bullish.
  • #323,008
  • Edited 2:34pm Aug 29, 2012 1:16pm | Edited 2:34pm
Short limit hit at 5850 TP 5815
Edit
Closed the Short at 5830
Looks like it hit bottom of the day.
+20 pips for today
In trading, you have to be defensive and aggressive at the same time
  • #323,009
  • Aug 29, 2012 10:23pm Aug 29, 2012 10:23pm
world markets puking it up tonight........

going to put my thinking cap on to see what that means in other places that we trade.....
I don't trust any move - when you have profit...take it.
  • #323,010
  • Aug 29, 2012 10:25pm Aug 29, 2012 10:25pm
would be wise to follow the markets down - china markets are tanking big time - one leads the other.
I don't trust any move - when you have profit...take it.
  • #323,011
  • Aug 29, 2012 10:30pm Aug 29, 2012 10:30pm
it appears that fear is coming into the market - what say ye? market fear is good - fear and greed are both good - we need these emotions to create a market that moves.....
I don't trust any move - when you have profit...take it.
  • #323,012
  • Aug 29, 2012 10:32pm Aug 29, 2012 10:32pm
hang seng down over 250 points.....outch.
I don't trust any move - when you have profit...take it.
  • #323,013
  • Aug 29, 2012 10:35pm Aug 29, 2012 10:35pm
traders pulling out of the market ahead of jackson hoe - will be interesting to see where the USA markets open at.....will they sell tonight or will they wait till market open??????

if money is being pulled out of the market.....where is that money going?
I don't trust any move - when you have profit...take it.
  • #323,014
  • Aug 29, 2012 10:40pm Aug 29, 2012 10:40pm
I'm bored..
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  • #323,015
  • Aug 29, 2012 11:12pm Aug 29, 2012 11:12pm
Quoting TauTrader
I'm bored..

u got skillz...
I don't trust any move - when you have profit...take it.
  • #323,016
  • Aug 29, 2012 11:14pm Aug 29, 2012 11:14pm
did everyone move to a new thread? it is sooooooo erie quite in here....


Inserted Video
I don't trust any move - when you have profit...take it.
  • #323,017
  • Aug 29, 2012 11:22pm Aug 29, 2012 11:22pm
http://www.forexfactory.com/attachme...0&d=1346298313

cable
not euphoria follower
  • #323,018
  • Aug 29, 2012 11:26pm Aug 29, 2012 11:26pm
Since its quiet perhaps we can post our favorite indi chart set ups.
My current set up
Slope direction line
RSI
Stoch
FF headlines

I draw my own S/R
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In trading, you have to be defensive and aggressive at the same time
  • #323,019
  • Aug 29, 2012 11:48pm Aug 29, 2012 11:48pm
New fork for GBP. Newly found support at median line..
http://mlatrader.com/gbp-continues-its-climb/
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  • #323,020
  • Aug 29, 2012 11:52pm Aug 29, 2012 11:52pm
Quoting Faller
u got skillz...
How are you?

I'm wondering where this is all going.. I'm in position and holding here. Will cut @ 1.5885 and targetting 1.5775. I'm seing the latest move back up as a retrace to continue lower for now.

What is your view?

Regards
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