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Cable Update (GBPUSD)

  • #357,701
  • Jan 8, 2014 9:12am Jan 8, 2014 9:12am
trying a short from 1.64600. tp 1.6380 sl 1.6470 will move to BE. wish me luck guys
  • #357,702
  • Jan 8, 2014 9:23am Jan 8, 2014 9:23am
Bullish action on the rising wedge, 1.6445 broken to the upside.

1.6466 daily high.

Still favoring longs.




GBP/USD - H1
Attached Image
Hear the music before the song is over ...
  • #357,703
  • Jan 8, 2014 9:27am Jan 8, 2014 9:27am
Looks like theres a lot of overtrading and revenge trading going on... sure way to blow your early winnings.
  • #357,704
  • Jan 8, 2014 9:37am Jan 8, 2014 9:37am
Meh, set risky sell limit on 1.6483
  • #357,705
  • Jan 8, 2014 9:39am Jan 8, 2014 9:39am
buy the dip scheme. congratulations to the bulls. i think we will see 1,66 the next days.
fortis fortuna adiuvat
  • #357,706
  • Jan 8, 2014 10:06am Jan 8, 2014 10:06am
Well, I played this one almost exactly wrong.

As I was headed to bed last night, I set an order to sell at 1.6440 and an order to buy to close at 1.6390. When I woke up this morning, I looked at my cell phone and saw we hadn't hit 1.6440 and were trading at around 1.6432. I figured I'd go ahead and log in to my broker and cancel my order. I got out of bed, turned on my computer, logged into my broker, and my order had just been executed. Har!

The good news is, I still have my longs, so I'm not actually losing money. But, I'm not making money either, which is annoying. I literally missed canceling my order by about 10 seconds.
  • #357,707
  • Jan 8, 2014 10:10am Jan 8, 2014 10:10am
Quoting namitak007
{quote} i have order @ 1.646 with tp 1.6391
Still holding ..
  • #357,708
  • Jan 8, 2014 10:13am Jan 8, 2014 10:13am
Quoting el_duende
Interesting that there has been a 10% increase over the last week of forex factory traders being net long.
We've been hovering around 35% long for some time now. What 10% increase are you talking about?
  • #357,709
  • Jan 8, 2014 10:14am Jan 8, 2014 10:14am
i think once news comes out this thing is gonna shoot up
  • #357,710
  • Jan 8, 2014 10:16am Jan 8, 2014 10:16am
Quoting pawpaw1000
{quote} Seeing as you work with supply and demand, isn't it true that supply gets "used up" every time it enters a zone?

Indeed , and as You can see it went through it - Well , almost ..Not quite out Yet ..
Sell Orders were triggered overnight , and am still holding to see if GU can survive the BEAR HUG ..
That SOB is grabbing the bulls by the leg ..LOL
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4-1.png Size: 38 KB
Click to Enlarge Name: gbpusdh4-4.png Size: 32 KB
  • #357,711
  • Jan 8, 2014 10:25am Jan 8, 2014 10:25am
Quoting PoundTrader
i think once news comes out this thing is gonna shoot up
What news are you expecting to cause this thing to shoot up more than it already has?
  • #357,712
  • Jan 8, 2014 10:26am Jan 8, 2014 10:26am
Quoting IveGotQuads
Looks like theres a lot of overtrading and revenge trading going on... sure way to blow your early winnings.
do we now see the retracemenrt coming off that 50% fib i went short again, i will save a bit of money or go on to bigger things going to manager all now as it is risky could be a long night LOL
  • #357,713
  • Jan 8, 2014 10:27am Jan 8, 2014 10:27am
Quoting Baggi
{quote} What news are you expecting to cause this thing to shoot up more than it already has?
you dont know what news btw nothing is 100% so it might shoot up or could cause a major trend reversal
  • #357,714
  • Jan 8, 2014 10:35am Jan 8, 2014 10:35am
Quoting PoundTrader
{quote} you dont know what news btw nothing is 100% so it might shoot up or could cause a major trend reversal
Yes, absolutely, nothing is 100%. I hope everyone realises that, if they don't, they shouldn't be trading.

To the point. What news are you expecting will cause this to shoot up more than it already has?

Like everyone else here, I can see the calendar of news. I don't need to know what news is coming out. I'm asking, what news do you expect will cause this to shoot up.

Perhaps I'm not being clear? If so, just let me know and I'll try and rephrase.
  • #357,715
  • Jan 8, 2014 10:35am Jan 8, 2014 10:35am
Quoting PoundTrader
{quote} you dont know what news btw nothing is 100% so it might shoot up or could cause a major trend reversal
itīs likely that the fomc minutes will increase volatility. 50/50 up /down...
fortis fortuna adiuvat
  • #357,716
  • Jan 8, 2014 10:43am Jan 8, 2014 10:43am
Quoting Baggi
{quote} Yes, absolutely, nothing is 100%. I hope everyone realises that, if they don't, they shouldn't be trading. To the point. What news are you expecting will cause this to shoot up more than it already has? Like everyone else here, I can see the calendar of news. I don't need to know what news is coming out. I'm asking, what news do you expect will cause this to shoot up. Perhaps I'm not being clear? If so, just let me know and I'll try and rephrase.
i get what your saying, it's a wait and see game
  • #357,717
  • Jan 8, 2014 10:44am Jan 8, 2014 10:44am
Quoting PoundTrader
{quote} i get what your saying, it's a wait and see game
So, um, question....


What news are you expecting to hear that will cause this to go up more than it already has?
  • #357,718
  • Jan 8, 2014 10:45am Jan 8, 2014 10:45am
Quoting PoundTrader
i think once news comes out this thing is gonna shoot up
this is just my opinion. lol
  • #357,719
  • Jan 8, 2014 10:49am Jan 8, 2014 10:49am
Quoting PoundTrader
{quote} this is just my opinion. lol
I would be interested to hear, what, exactly, your opinion is.

I'm still not really clear on that.
  • #357,720
  • Jan 8, 2014 10:56am Jan 8, 2014 10:56am
come on folks, let us all buy crystal balls, itīs a save investment: people are using them!
fortis fortuna adiuvat
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