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Cable Update (GBPUSD)

  • #336,021
  • Feb 20, 2013 5:25am Feb 20, 2013 5:25am
Quoting feelmypecs
Well said, and thats exactly why I wouldnt be too harsh on myself. Opportunities come and go, and if you're indiscriminate like me, can exist on many different currency pairs. That said, im someone to who tries to catch the big fish and ride trend reversals. Im going to try to get on this one when it shows signs of letting up.
Yeah and I've been trying to adjust to the higher TF's and it causes me troubles at times. This being one of them. For the past week or so I've had that 5450 S/R on the brain and "expected" a bounce (which it did a little) but thought it would test 5540/60ish where I had planned a short for this move.

Falling back into my comfort zone of smaller TF's, I saw but just completely ignored the HUGE Bear bar last week which of course in hindsight, should have been enough to just sell and wait. No doubt it will take time for me to get over playing bounces both ways on the smaller TF's ...LOL

But the goods news is, missing a trade is not a "bad" trade. Still learning... :nerd:
Ghost Rider - WWTBMD?
  • #336,022
  • Feb 20, 2013 5:29am Feb 20, 2013 5:29am
Quoting andydoc
Not good news really
Claims dropped
Rate rose
So Total Labour Pool shrunk and Unemployed rate rose - both bad news

We're in agreement then .
I was pointing out the fact to Tingos 318 that The Minutes were actually bad not good news .
  • #336,023
  • Feb 20, 2013 5:32am Feb 20, 2013 5:32am
Quoting PoundTrader
YEP
Hey... the REAL PT!! ... lol
Ghost Rider - WWTBMD?
  • #336,024
  • Feb 20, 2013 5:48am Feb 20, 2013 5:48am
Quoting _BBKing_
you clearly have to stay away from here after this post.
go in some other place offending people.
here nobody offended you.
and actually albchr is much respectable person.
good luck with your life.
Hey brother, I was back reading through some posts and just saw this. Thank you much for the kind words my friend. Means a lot to me coming from you.
Ghost Rider - WWTBMD?
  • #336,025
  • Feb 20, 2013 6:16am Feb 20, 2013 6:16am
Quoting albchr
LOL.... VERY happy for ya bro.

(Now how long was I telling not to go long?)

Just watch 5270ish ya hear
He he, I hear ya, I'm thinking mid to high 60's though
Oh, + spread right? Gotcha, 70 it is
Come with me if you want to live....
  • #336,026
  • Feb 20, 2013 6:26am Feb 20, 2013 6:26am
Quoting albchr
Hey... the REAL PT!! ... lol
  • #336,027
  • Feb 20, 2013 6:33am Feb 20, 2013 6:33am
Quoting Ill-b-back
He he, I hear ya, I'm thinking mid to high 60's though
Oh, + spread right? Gotcha, 70 it is
It could certainly extend to the 60's or 30's bro. In fact hell, it could crash right through it all....LOL

But no I wasn't thinking spread persay, just that as seen on the weekly, 5270 is 50% of the 4 year range and the bottom of a roughly 2 year range which has been respected 5 times so far. So in my view it's just an important level to watch for, taking profits, possible reversal or adding for futher shorts. I have a buy limit set at 5270 with a SL at 5230 as I feel it could be good RR "IF" the range holds.

But in January 2012 it extended to a low of 5232 and again in June to 5267. What concerns me is this will make the 6th touch and I still believe the more a level is tested, the weaker it becomes. But only time will tell.

That said, what gives me "hope" the range will hold are the levels being approached on the indexes. Will they turn? Or keep going?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu_weekly.gif Size: 26 KB
Click to Enlarge Name: USDLFX_GBPLFX_WEEKLY.PNG Size: 68 KB
Ghost Rider - WWTBMD?
  • #336,028
  • Feb 20, 2013 6:35am Feb 20, 2013 6:35am
Quoting PoundTrader
90% of traders use TA, indicators and prediction
  • #336,029
  • Feb 20, 2013 6:36am Feb 20, 2013 6:36am
hey cable still rising!
90% of traders use TA, indicators and prediction
  • #336,030
  • Feb 20, 2013 6:36am Feb 20, 2013 6:36am
also 'da yuro on its way to 1.40!
90% of traders use TA, indicators and prediction
  • #336,031
  • Feb 20, 2013 6:38am Feb 20, 2013 6:38am
Quoting PoundTrader
Good to see "you" in here man. I was almost fooled by an impostor the other day... LOL
Ghost Rider - WWTBMD?
  • #336,032
  • Feb 20, 2013 6:50am Feb 20, 2013 6:50am
Quoting albchr
It could certainly extend to the 60's or 30's bro. In fact hell, it could crash right through it all....LOL

But no I wasn't thinking spread persay, just that as seen on the weekly, 5270 is 50% of the 4 year range and the bottom of a roughly 2 year range which has been respected 5 times so far. So in my view it's just an important level to watch for, taking profits, possible reversal or adding for futher shorts. I have a buy limit set at 5270 with a SL at 5230 as I feel it could be good RR "IF" the range holds.

But in January 2012 it extended...
I was just kidding bro, let's see what tomorrow shows us :nerd:


11.46pm here and up at 5am tomorrow,

...and the wife is calling...

So got to go to bed...

Here's a 1 minute chart for extra effect...

love and respect to you brother...
Attached Image (click to enlarge)
Click to Enlarge Name: gu81.gif Size: 9 KB
Come with me if you want to live....
  • #336,033
  • Feb 20, 2013 6:52am Feb 20, 2013 6:52am
Quoting Ill-b-back
I was just kidding bro, let's see what tomorrow shows us :nerd:


11.46pm here and up at 5am tomorrow,

...and the wife is calling...

So got to go to bed...

Here's a 1 minute chart for extra effect...

love and respect to you brother...
And the day is starting here. I'm curious to see what the USD noise will do...LOL

Have a great night buddy and right back atcha!
Ghost Rider - WWTBMD?
  • #336,034
  • Feb 20, 2013 6:56am Feb 20, 2013 6:56am
Quoting _BBKing_
hey cable still rising!

... YEP!

Where's that muppet who was yelling yesterday (in a most disrespectful way) that 5300 would never happen? LOL
Ghost Rider - WWTBMD?
  • #336,035
  • Feb 20, 2013 7:06am Feb 20, 2013 7:06am
Quoting albchr
... YEP!

Where's that muppet who was yelling yesterday (in a most disrespectful way) that 5300 would never happen? LOL
who?
90% of traders use TA, indicators and prediction
  • #336,036
  • Feb 20, 2013 7:23am Feb 20, 2013 7:23am
Quoting pound trader
seems to me it wants to touch 1.56 today or tomorrow. would be nice to take out some shorters out of this forum. 1.53 huh. some of them were shouting.

don't think so
Think again

4950 is a longer term reversal point I am watching also, but if we touch 5270 and close above, could see some action tomorrow
Come with me if you want to live....
  • #336,037
  • Feb 20, 2013 8:52am Feb 20, 2013 8:52am
Inserted Video
90% of traders use TA, indicators and prediction
  • #336,038
  • Feb 20, 2013 1:07pm Feb 20, 2013 1:07pm
wow, wtf just happened?
  • #336,039
  • Feb 20, 2013 1:09pm Feb 20, 2013 1:09pm
Quoting alex1976
wow, wtf just happened?

USD FOMC Meeting Minutes - getting a discount buy I'll bet
Ghost Rider - WWTBMD?
  • #336,040
  • Feb 20, 2013 1:12pm Feb 20, 2013 1:12pm
got stopped out -20pips
Did not expect such drama
In trading, you have to be defensive and aggressive at the same time
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