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Cable Update (GBPUSD)

  • #354,381
  • Nov 26, 2013 7:34am Nov 26, 2013 7:34am
Quoting abhilash
Looking for 1.60 .

today? mine is 1.6080
  • #354,382
  • Nov 26, 2013 7:39am Nov 26, 2013 7:39am
Quoting mima
BofA again says sell EU: http://www.forexfactory.com/news.php?do=news&id=459232 Why?
I would not take trading advice from Merrill Lynch. Theyr history is not that good.
I don't think they are lying or trying to trick anyone. Just moving the market in the dirrection of their trade.
  • #354,383
  • Nov 26, 2013 7:39am Nov 26, 2013 7:39am
How come Cable is currently going back up after that news?
  • #354,384
  • Nov 26, 2013 7:41am Nov 26, 2013 7:41am
Quoting InNeedOfHelp
How come Cable is currently going back up after that news?

cable normally behaves in a diff way to the news but the charts are telling me that there is unwinding of cable longs happening. may be this month end flows. I am not sure but cable is heading down
  • #354,385
  • Nov 26, 2013 7:42am Nov 26, 2013 7:42am
Quoting InNeedOfHelp
How come Cable is currently going back up after that news?
People are buying on dips
  • #354,386
  • Nov 26, 2013 7:44am Nov 26, 2013 7:44am
Quoting lostintrade
{quote} People are buying on dips

its not a buy on dips pair anymore.
  • #354,387
  • Nov 26, 2013 7:45am Nov 26, 2013 7:45am
1.6148 is the day open so it has to be defended by bulls.
  • #354,388
  • Nov 26, 2013 7:47am Nov 26, 2013 7:47am
Quoting EternalNewB
{quote} Not a critic just for my own info, are you trading without SL ? I am just asking because I am in the same boat (just less DD sold at 1.61) without SL and somehow wondering when should I decide there is no turning back thanks

I trade differently then most.I trade without set SL but have a number which is allocated for this trade.When that's reached I'll take the loss.
I can't tell you what to do but advise you to plan for exit before entering.6350 is recent HH
regards
In trading, you have to be defensive and aggressive at the same time
  • #354,389
  • Nov 26, 2013 7:51am Nov 26, 2013 7:51am
Quoting hadox
{quote} soo, you're underwater by roughly 450 pips and looking for 200 pips in profit? ehhmm.. IMO thats seriously bad money management, why not take the loss and give it a try higher?
I trade differently then most.I trade without set SL but have a number which is allocated for this trade.When that's reached I'll take the loss.It has not reached yet.
My TP is 155 which is more then 200pips besides I am short on GC on 6 positions as well.Its almost like trading GU but with GC you get positive swap.
Thanks for your concern.Regards
In trading, you have to be defensive and aggressive at the same time
  • #354,390
  • Nov 26, 2013 7:55am Nov 26, 2013 7:55am
Quoting Davit
{quote} I trade differently then most.I trade without set SL but have a number which is allocated for this trade.When that's reached I'll take the loss.It has not reached yet. My TP is 155 which is more then 200pips besides I am short on GC on 6 positions as well.Its almost like trading GU but with GC you get positive swap. Thanks for your concern.Regards
ahh, I see.. not that I was concerned though, just tried to understand the thinking of your trade..

anyway thx for your answer..
Patience is a virtue...
  • #354,391
  • Nov 26, 2013 8:03am Nov 26, 2013 8:03am
Quoting hadox
{quote} ahh, I see.. not that I was concerned though, just tried to understand the thinking of your trade.. anyway thx for your answer..

Concept is described in the book called "Bird Watching in Lion Country" and took ideas from "Beat the Forex Dealer" and mix of my own style.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #354,392
  • Nov 26, 2013 8:19am Nov 26, 2013 8:19am
Quoting sakisf
1.6148 is the day open so it has to be defended by bulls.
Sorry, that's not true. It means very little. What we're in is clearly a consolidation period. The market is just chopping about at this stage in a narrow band prior to making a move either higher or lower.
I have no clue what I'm talking about.
  • #354,393
  • Nov 26, 2013 8:26am Nov 26, 2013 8:26am
positive here might do it.
Its common before a major news price not going anywhere.Both Bears and Bulls are holding back their ammunition.
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #354,394
  • Nov 26, 2013 8:32am Nov 26, 2013 8:32am
Quoting Davit
positive here might do it. Its common before a major news price not going anywhere.Both Bears and Bulls are holding back their ammunition. {image}
hey davit. like your signature, coz its doesn't say the usual "every action has an "equal" and opposite reaction"

good work my friend, i like you. was this intentional?
  • #354,395
  • Nov 26, 2013 9:09am Nov 26, 2013 9:09am
this is exactly what i described: an event-driven volatility-breakout. 20 pips in 1 minute. i will not trade anymore today, my job is done. time for my family.

http://td.md.it-finance.com/ProRealT...g&purpose=file
fortis fortuna adiuvat
  • #354,396
  • Nov 26, 2013 9:11am Nov 26, 2013 9:11am
Quoting deltaone
this is exactly what i described: an event-driven volatility-breakout. 20 pips in 1 minute. i will not trade anymore today, my job is done. time for my family. {image}
Congrats. Enjoy the family. You only live once
Those who say it cannot be done should not interrupt those who are doing it
  • #354,397
  • Nov 26, 2013 9:13am Nov 26, 2013 9:13am
Quoting PipTrapper
{quote} Congrats. Enjoy the family. You only live once
thanks! will do so. have a nice evening!
fortis fortuna adiuvat
  • #354,398
  • Nov 26, 2013 9:15am Nov 26, 2013 9:15am
rather extreme reaction but the number is not too bad and I suspect it will come back to 6145 by 1pm
In trading, you have to be defensive and aggressive at the same time
  • #354,399
  • Nov 26, 2013 9:21am Nov 26, 2013 9:21am
Quoting Davit
rather extreme reaction but the number is not too bad and I suspect it will come back to 6145 by 1pm

GELORE
  • #354,400
  • Nov 26, 2013 9:37am Nov 26, 2013 9:37am
In this short week and after today's major news market has no reason to change its view regarding USD...
The Market pays you to be disciplined
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