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Cable Update (GBPUSD)

  • #18,921
  • Jul 16, 2007 6:28am Jul 16, 2007 6:28am
ok, feel free to always put on "red", I just don't understand people who trie to predict future., probably the stuff with trading psyhology, we all trade diferently
  • #18,922
  • Jul 16, 2007 6:30am Jul 16, 2007 6:30am
My view on this issue is this:

As a trend-following swing trader, I seek to trade each consecutive swing in the direction of the trend. I have no idea when the trend will end, and no-one knows. What I DO know is that my Moving Averages are pointing up and that's all I need to know. I look for entries in each consecutive swing and I make very sure I try to not predict the market with my own personal bias ("this chart is overbought", "there is a bounce down due soon", etc).

Usually, by swing trading in the direction of the trend, I score a loss (or perhaps a breakeven trade if I get lucky) on the last swing of the trend. But before that I have made three, four, five, etc profitable trade in all the prior consecutive swings. In my opinion, that's better than trying to predict a trend's top and thus scoring one winning trade on the trend's last swing but having scored sound losses in all the prior consecutive swings up.

Just my view.
  • #18,923
  • Jul 16, 2007 6:33am Jul 16, 2007 6:33am
Quoting WTB
My view on this issue is this:

As a trend-following swing trader, I seek to trade each consecutive swing in the direction of the trend. I have no idea when the trend will end, and no-one knows. What I DO know is that my Moving Averages are pointing up and that's all I need to know. I look for entries in each consecutive swing and I make very sure I try to not predict the market with my own personal bias ("this chart is overbought", "there is a bounce down due soon", etc).

Usually, by swing trading in the direction of the trend, I score a loss (or perhaps a breakeven trade if I get lucky) on the last swing of the trend. But before that I have made three, four, five, etc profitable trade in all the prior consecutive swings. In my opinion, that's better than trying to predict a trend's top and thus scoring one winning trade on the trend's last swing but having scored sound losses in all the prior consecutive swings up.

Just my view.
This makes a whole lotta sense to me.
  • #18,924
  • Jul 16, 2007 6:34am Jul 16, 2007 6:34am
Yeah, let's face it. Staying here squeezing for those lil pips is nonsense right in front of a week packed with strong data....

My last lot on cable is SL 0373 for B/E and that will be it for me today....
  • #18,925
  • Jul 16, 2007 6:35am Jul 16, 2007 6:35am
Doesnt matter what any of us think what is the professional thinking, they move the market. Where is their greatest profits, suck in shorts suck in longs? Markets follow the path of least resistance always. Yet they wont mark up the market if demand isnt there. So is DEMAND there? Because we know there is much selling going on here, Zero sum game every buyer must have a seller. 1 click and instant winners and losers are born. Momentum has carried it this far. Pros wont buy tops unless they are 100% sure there is momentum to carry them forward since they dont fuel the moves ever only intiate beyond res/sup levels. So is momentum still long or is it exhausted. Volumes say its tired.
"Millionaires don't use astrology, billionaires do"
  • #18,926
  • Jul 16, 2007 6:36am Jul 16, 2007 6:36am
[quote]

Good that my S.L. did not get hit yet. I am still waiting to see the 360 then 330

=============================
  • #18,927
  • Jul 16, 2007 6:39am Jul 16, 2007 6:39am
I am Long Cable Long
  • #18,928
  • Jul 16, 2007 6:45am Jul 16, 2007 6:45am
Quoting OrionsWay
Doesnt matter what any of us think what is the professional thinking, they move the market. Where is their greatest profits, suck in shorts suck in longs? Markets follow the path of least resistance always. Yet they wont mark up the market if demand isnt there. So is DEMAND there? Because we know there is much selling going on here, Zero sum game every buyer must have a seller. 1 click and instant winners and losers are born. Momentum has carried it this far. Pros wont buy tops unless they are 100% sure there is momentum to carry them forward since they dont fuel the moves ever only intiate beyond res/sup levels. So is momentum still long or is it exhausted. Volumes say its tired.
1) How do we know that there is much selling going on here if today we ONCE AGAIN have made a historical high?
2) What volume in Forex? and once again, how is it exhausted if we keep making new highs?

I sure sometimes dont understand half of what's talked about here on the Factory.
  • #18,929
  • Jul 16, 2007 6:51am Jul 16, 2007 6:51am
I say there is not much more dollar bills to be sold here. Those holding the few left are gonna hold'em to sell as antique

  • #18,930
  • Jul 16, 2007 6:54am Jul 16, 2007 6:54am
Quoting WTB
1) How do we know that there is much selling going on here if today we ONCE AGAIN have made a historical high?
2) What volume in Forex? and once again, how is it exhausted if we keep making new highs?

I sure sometimes dont understand half of what's talked about here on the Factory.

!. Zero sum market= FOREX every buyer must have seller, dominated by order flow creates a winner/ loser
2. Daily trading volumes, not gonna explain volume buy a book its difficult to understand, exhausted means lower daily players. So who is playing momentum accounts, who is selling it to them, who is allowing them into the market. When they see that they are about dried up buying longs, they will crush this market ON A NEWS EVENT Probably GOOD news for the longs as well sucking in the last of them, like maybe what is happening currently on 4hrs candle. Locking them into poor positions

3. Sorry u arent understanding this
"Millionaires don't use astrology, billionaires do"
  • #18,931
  • Jul 16, 2007 6:55am Jul 16, 2007 6:55am
Quoting OrionsWay
!. Zero sum market= FOREX every buyer must have seller, dominated by order flow creates a winner/ loser
2. Daily trading volumes, not gonna explain volume buy a book its difficult to understand, exhausted means lower daily players. So who is playing momentum accounts, who is selling it to them, who is allowing them into the market. When they see that they are about dried up buying longs, they will crush this market ON A NEWS EVENT Probably GOOD news for the longs as well sucking in the last of them, like maybe what is happening currently on 4hrs candle. Locking them into poor positions

3. Sorry u arent understanding this
Aaahhhh I remember... you were the guy who was reading Forex volume off a retail broker's data, werent you?

I see...

Thank you and good luck in your trading.
  • #18,932
  • Jul 16, 2007 6:56am Jul 16, 2007 6:56am
usd fighting back!!
  • #18,933
  • Jul 16, 2007 6:59am Jul 16, 2007 6:59am
Quoting gr8collector
usd fighting back!!
Euro below 3760 and dollar has found it bottom.....
  • #18,934
  • Jul 16, 2007 6:59am Jul 16, 2007 6:59am
Quoting WTB
Aaahhhh I remember... you were the guy who was reading Forex volume off a retail broker's data, werent you?

I see...

Thank you and good luck in your trading.

Yes, any activity that is measured whether absolute volume such as futures or tick volume such as many brokers and place any value to it is relevant to the spread of any bar for every chart consists of that same spread give or take globally.

Thanks and right back atcha
"Millionaires don't use astrology, billionaires do"
  • #18,935
  • Jul 16, 2007 6:59am Jul 16, 2007 6:59am
My entry.

6. 16 July 2007
OPEN GBP/USD LONG @ 2.0368
1st Target = 2.0408
2nd Target = 2.0448
Stop Loss = 2.0303

PLS excercise caution as there is major US news in 30mins.
  • #18,936
  • Jul 16, 2007 7:02am Jul 16, 2007 7:02am
Quoting gr8collector
usd fighting back!!
hope to go up gbp usd
byebye costly moments.
  • #18,937
  • Jul 16, 2007 7:08am Jul 16, 2007 7:08am
Quoting 1000USD
hope to go up gbp usd


http://www.fiendbear.com/bull10.jpg
  • #18,938
  • Jul 16, 2007 7:11am Jul 16, 2007 7:11am
So there are three type of market sentiments now: bullish, bearish and cowish.
  • #18,939
  • Jul 16, 2007 7:11am Jul 16, 2007 7:11am
Quoting cesarnc


http://www.fiendbear.com/bull10.jpg
  • #18,940
  • Jul 16, 2007 7:17am Jul 16, 2007 7:17am
Quoting WTB
So there are three type of market sentiments now: bullish, bearish and cowish.
hehehe

I'm now waiting for the "DOLLAR RULES!!!", "SEE? WHO'S DEAD NOW?"

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