It wasn't just the spike that got me, it was the pip spread as well. I tend to trade commission, which means my spread is generally 1 pip or less. At that time it was a 4 to 5 pip spread.

Cable Update (GBPUSD)

What's with the crazy price action and spread? I went to get some tea at Starbucks, looked at the price, noticed the the pip spread was out of whack, and the price was around 1.65. Got my tea, looked again, and within a few minutes we had gone up to ...

Cable Update (GBPUSD)

As for me, my prediction is a bit different than Pips. I see us making higher lows and lower highs forming a symmetrical triangle until we bust up or down, but my bias would be up, continuing the trend.

Cable Update (GBPUSD)

That does make a lot of sense. If you get into a counter trend trade and it doesn't go your way, you either have to take a quick loss or risk losing a lot of money. I suppose if Pip waits until his buy area, if it continues to go down, he can hold ...

Cable Update (GBPUSD)

Hey Pip, please feel free to ignore anything I write if it seems irrelevant and stupid to you. However, I'm curious about your trading style. It seems to me like you've got a pretty solid foundation and strategy. And you're looking to buy when it ...

Cable Update (GBPUSD)

It's generally a good idea to take a break and walk away from the computer if you're this angry over trading. Maybe take a week off.

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Is it typical language to say "Add one more long?" Or like someone said earlier, they have 8 shorts. Is this an actual number? For example, when I buy and sell, I tend to do so with as low as 10,000 or as high as 100,000 lot's at a time. When ...

Cable Update (GBPUSD)

I love waking up in the morning, seeing last nights price action (For those of us in the USofA anyway) and then reading through the comments. Very interesting conversation gang! Now, can we get GU back up to 2 to 1? Seems like a large portion of my ...

Cable Update (GBPUSD)

When I look back in time over GU I don't see many massacres up or down (With one exception bringing us down to the area we've been in the last several years). P.S. What does TL stand for?

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According to this website only 32% are long.

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I'm definitely not expecting that. That would be quite the move. But what news are you expecting to cause such a move? Another 9/11?

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For some odd reason I have two very different closing numbers for this. In Oanda, it's around 1.6477. At TDAmeritrade, it's closer to 1.6465. Pretty big difference. What's the actual close?

Cable Update (GBPUSD)

Today's daily candle does indeed look bearish. So did the daily candle from last week. Look at the overall trend.

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Wow, large fluctuation today.

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I locked in some profit here, as I am headed to bed.

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The pull back took us to the December 18th high. Wonder if we'll push down through that.

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There's always a pullback.

Cable Update (GBPUSD)