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Cable Update (GBPUSD)

  • #331,721
  • Dec 5, 2012 11:12am Dec 5, 2012 11:12am
Quoting Sutts
Nightmare PA today. I went short this morning at 1.6113 and I'm currently up 6 pips after watching EU have a nice ride down. Sick as a parrot. LOL That's 10 hours screen watching for zip.

I saw the big fall in EURGBP was keeping GU propped up but figured if I waited for EURGBP to find support then GU would finally have it's turn to fall. Looks like I was wrong.
imho, you have to take extra measures when shorting cable.. i too expect it to go to 6040 (my PO), but seems like the momentum wouldn't allow it..
  • #331,722
  • Dec 5, 2012 11:16am Dec 5, 2012 11:16am
Quoting A-speculator
imho, you have to take extra measures when shorting cable.. i too expect it to go to 6040 (my PO), but seems like the momentum wouldn't allow it..

What do you mean by extra measures A-speculator? Are you holding or giving up on this fall? I'm targeting 1.6063 and 1.6025 BTW.
  • #331,723
  • Dec 5, 2012 11:19am Dec 5, 2012 11:19am
Quoting Sutts
What do you mean by extra measures A-speculator? Are you holding or giving up on this fall? I'm targeting 1.6063 and 1.6025 BTW.
for me, shorting atm is counter the mid-term trend, so you have to make sure your position is well secured.. i expect it to retest the breakout resistance turned support at 6040 but it seems like hard to get there, still has a lot of bulls left in the trend.
  • #331,724
  • Dec 5, 2012 11:20am Dec 5, 2012 11:20am
Quoting A-speculator
for me, shorting atm is counter the mid-term trend, so you have to make sure your position is well secured.. i expect it to retest the breakout resistance turned support at 6040 but it seems like hard to get there, still has a lot of bulls left in the trend.
here i show you the chart and the expected support i'm talking about.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 28 KB
  • #331,725
  • Dec 5, 2012 11:21am Dec 5, 2012 11:21am
Quoting A-speculator
for me, shorting atm is counter the mid-term trend, so you have to make sure your position is well secured.. i expect it to retest the breakout resistance turned support at 6040 but it seems like hard to get there, still has a lot of bulls left in the trend.

Thanks.
  • #331,726
  • Dec 5, 2012 11:24am Dec 5, 2012 11:24am
more upside to come..
  • #331,727
  • Dec 5, 2012 11:31am Dec 5, 2012 11:31am
Quoting Sutts
Thanks.
adjusted my entry at 6060 in favor of current PA..
  • #331,728
  • Dec 5, 2012 11:34am Dec 5, 2012 11:34am
I'd hate to be a candle trader on a day like this. Build a pin, take the stops, build a pin, take the stops.......

Dirty NY bas****s.
  • #331,729
  • Dec 5, 2012 11:37am Dec 5, 2012 11:37am
Quoting Sutts
I'd hate to be a candle trader on a day like this. Build a pin, take the stops, build a pin, take the stops.......

Dirty NY bas****s.
she needs some breathing space mate, it is the time to stay away from her imho, and perhaps better to find good setup elsewhere..
  • #331,730
  • Dec 5, 2012 11:41am Dec 5, 2012 11:41am
Quoting A-speculator
she needs some breathing space mate, it is the time to stay away from her imho, and perhaps better to find good setup elsewhere..

Yes, probably. My trouble is I've spent 10 hours waiting for this to fall and I know that if I close out now it will fall immediately afterwards! On the other hand I don't want to go into the red on this one so I might just move b/e and leave.

Very frustrating day indeed.
  • #331,731
  • Dec 5, 2012 11:43am Dec 5, 2012 11:43am
Quoting Sutts
Yes, probably. My trouble is I've spent 10 hours waiting for this to fall and I know that if I close out now it will fall immediately afterwards! On the other hand I don't want to go into the red on this one so I might just move b/e and leave.

Very frustrating day indeed.
it's ok misses the train rather than in the wrong train..

there's always another day..
  • #331,732
  • Dec 5, 2012 11:47am Dec 5, 2012 11:47am
Quoting A-speculator
it's ok misses the train rather than in the wrong train..

there's always another day..
Yes, wise words indeed. Have moved to b/e now. What will be will be.

Cheers
  • #331,733
  • Dec 5, 2012 11:50am Dec 5, 2012 11:50am
oh brother... yen being dumped... chaos chaos chaos
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,734
  • Dec 5, 2012 12:25pm Dec 5, 2012 12:25pm
Quoting taomql4
Woke up this Morning and kept wondering - The Hell was eating away at my Profit ? And there it was ... @50 ..
There 's a 6 day demand behinde it , so it might get absorbed ..

http://www.youtube.com/watch?v=QuoKN...eature=mh_lolz

http://www.youtube.com/watch?v=5qm8PH4xAss
  • #331,735
  • Dec 5, 2012 12:27pm Dec 5, 2012 12:27pm
Quoting Sutts
Nightmare PA today. I went short this morning at 1.6113 and I'm currently up 6 pips after watching EU have a nice ride down. Sick as a parrot. LOL That's 10 hours screen watching for zip.

I saw the big fall in EURGBP was keeping GU propped up but figured if I waited for EURGBP to find support then GU would finally have it's turn to fall. Looks like I was wrong.
Today EU. GU might follow tomorrow.
  • #331,736
  • Dec 5, 2012 12:30pm Dec 5, 2012 12:30pm
Quoting A-speculator
imho, you have to take extra measures when shorting cable.. i too expect it to go to 6040 (my PO), but seems like the momentum wouldn't allow it..
Yeah. Doesn't seem to get past 1.608x. I'm still waiting for "the zone" (1.6140 - 1.6175) and a daily close this week below 1.6. Doesn't look like happening though.
  • #331,737
  • Dec 5, 2012 12:50pm Dec 5, 2012 12:50pm
Quoting CasperTrader
Yeah. Doesn't seem to get past 1.608x. I'm still waiting for "the zone" (1.6140 - 1.6175) and a daily close this week below 1.6. Doesn't look like happening though.
the real question that we should ask ourself is, once broken the 6175 level, will it shoot up to the 63xx level or will it find enough resistance to come back down?
In other words, take profits at 6175 or let it run

i guess we'll find out soon, it cannot stay in a 40pips range forever

Edit:
I forgot to mention, "IF" it go to the famous 6175 level, always say IF :nerd:
  • #331,738
  • Dec 5, 2012 1:32pm Dec 5, 2012 1:32pm
Quoting tunera
the real question that we should ask ourself is, once broken the 6175 level, will it shoot up to the 63xx level or will it find enough resistance to come back down?
In other words, take profits at 6175 or let it run

i guess we'll find out soon, it cannot stay in a 40pips range forever

Edit:
I forgot to mention, "IF" it go to the famous 6175 level, always say IF :nerd:
I think it's better to take cash and run. You can always re-enter if breaks 6175 on a re-test.
  • #331,739
  • Dec 5, 2012 2:09pm Dec 5, 2012 2:09pm
seems like the kiwi is already on the stairway to heaven.. lol. perhaps others will follow suit.. in time.

hopefully can get cable to retrace back down to at least 6060 before moving upwards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: kiwi.gif Size: 28 KB
Click to Enlarge Name: kiwi-1.gif Size: 27 KB
  • #331,740
  • Dec 5, 2012 2:14pm Dec 5, 2012 2:14pm
let's see if we can get candy to trade below 9900 by tomorrow.. i really hope it will..
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