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Cable Update (GBPUSD)

  • #32,541
  • Sep 25, 2007 4:53am Sep 25, 2007 4:53am
Quoting mradnan
cable made a nice move in wave 3 that i pridicted earlier but wave 3 is abt to complete at 2.0350 well thats ok
now i think cable is in wave 4 and find a good support the wave 5 could intialize form there toward up see the chart plz
i wellcome all new trders to join me at [email protected]

(Trade at ur own Risk)
Whilst your first chart is a possibility, your second is incorrect from an Elliott Wave point of view. Wave 4 cannot move below the W1 high for a valid EW count.
Trading Levels with WRBs
  • #32,542
  • Sep 25, 2007 4:54am Sep 25, 2007 4:54am
The problem i find with cable these days is a very risk compared to the reward. I guess this is because the market is still looking at cable as highly bought considering the entire Northern Rocks episode and the fact that UK could be ticking on a collapse similar to USA.

EUR and AUD on the other hand have a higher reward potential compared to the risk. Both these economies are robust and their central banks say that subprime will not affect them. Matter of fact both of them are looking at raising interest rates.

Hence the question - why would anyone want to trade cable (other than the pure love for it) - which clearly is NOT trending - atleast not in the short term
  • #32,543
  • Sep 25, 2007 5:02am Sep 25, 2007 5:02am
Quoting MPP
BWR
r u still trading swissy?

didn't look this month, what a fool. GBpCHF down, down down.
No I have been concentrating on U.S and Euro pairs this last month. I am trying to concentrate on only a few pairs instead of trying to chase everything. For some reason I was more sucessful when I was chasing every pair I could find I am in the process of overhauling my strategy to reduce time in front of computer, reduce stress and maximize profits. So far I spend more time in front of the p.c, I have more stress and I have not been as profitable, However I am still in the rebuilding stage so I know once I adapt to this new stratagy everything will be back to normal as far as my harvesting of pips is concerned.
Just Trade It
  • #32,544
  • Sep 25, 2007 5:02am Sep 25, 2007 5:02am
Quoting gmohata
Hence the question - why would anyone want to trade cable (other than the pure love for it) - which clearly is NOT trending - atleast not in the short term

For me.. its becoz cable is ranging above 100 pips daily.. high volatility.. compared to euro which is around 70 pips..
  • #32,545
  • Sep 25, 2007 5:14am Sep 25, 2007 5:14am
The higher your patience the higher your R:R ratio...
.
  • #32,546
  • Sep 25, 2007 5:20am Sep 25, 2007 5:20am
ok - I'M CONFUSED! Are we in a retracement or is this heading down again now?
  • #32,547
  • Sep 25, 2007 5:22am Sep 25, 2007 5:22am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
No I have been concentrating on U.S and Euro pairs this last month. I am trying to concentrate on only a few pairs instead of trying to chase everything. For some reason I was more sucessful when I was chasing every pair I could find I am in the process of overhauling my strategy to reduce time in front of computer, reduce stress and maximize profits. So far I spend more time in front of the p.c, I have more stress and I have not been as profitable, However I am still in the rebuilding stage so I know once I adapt to this new stratagy everything will be back to normal as far as my harvesting of pips is concerned.
the only reson i noticed it was because i been studying WTB's system, it has an indicator that tells you if it's trending, so on my MT4 platform i have a default profile for my favourite pairs, and then another folder with ever pair open and his indicator in place, instantly shows this pair trending and time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: WTB.jpg Size: 185 KB


cost a few euros but save so much time.
  • #32,548
  • Sep 25, 2007 5:24am Sep 25, 2007 5:24am
That "other thread" is only a few hundred posts behind us. once it bounces off of the daily piviot it should shoot up and overtake us by monday next week or even as early as friday but who knows, as they say only time will tell. I am long auslanco thread but I am still not buying any of that crap.
Just Trade It
  • #32,549
  • Sep 25, 2007 5:34am Sep 25, 2007 5:34am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
That "other thread" is only a few hundred posts behind us. once it bounces off of the daily piviot it should shoot up and overtake us by monday next week or even as early as friday but who knows, as they say only time will tell. I am long auslanco thread but I am still not buying any of that crap.
touchy touchy

i trade each pair with a different system, EU - Jackos etc and i have been making pips on GJ from Aus's systems. however they are the sit there and play systems not the set and forget type.

I like it - it works for now we wait and see what the future brings, it's also trading the GU well.

don't dismiss it just because it's not the way you trade, you should look at every system with open eye's one day you may find the system that lets you play more and work less, be open minded aboout these things.

here's one i've just started reading Daily95pips, set and forget, so easy it's crazy, but it seems they are making pips. and they only use the last daily candle with a few tp's and Sl's 2 hours work at most.

when the market is quite take the tie to look around i even found one trader playing with only 1 euro (the one euro man)

happy trading, no holy grail yet unfortunatly.
  • #32,550
  • Sep 25, 2007 5:43am Sep 25, 2007 5:43am
euro up ... cable down
  • #32,551
  • Sep 25, 2007 5:45am Sep 25, 2007 5:45am
I will get a cable and hang myself ... What the phuk r u doing? Meanwhile UJ is falling like a rock... I think I am in the wrong currency...
.
  • #32,552
  • Sep 25, 2007 5:48am Sep 25, 2007 5:48am
Quoting MPP
touchy touchy

i trade each pair with a different system, EU - Jackos etc and i have been making pips on GJ from Aus's systems. however they are the sit there and play systems not the set and forget type.

I like it - it works for now we wait and see what the future brings, it's also trading the GU well.

don't dismiss it just because it's not the way you trade, you should look at every system with open eye's one day you may find the system that lets you play more and work less, be open minded aboout these things.

here's one i've just started reading Daily95pips, set and forget, so easy it's crazy, but it seems they are making pips. and they only use the last daily candle with a few tp's and Sl's 2 hours work at most.

when the market is quite take the tie to look around i even found one trader playing with only 1 euro (the one euro man)

happy trading, no holy grail yet unfortunatly.
Check my thread It is sort of dead but it is dead simple too...
.
  • #32,553
  • Sep 25, 2007 5:54am Sep 25, 2007 5:54am
Quoting bullrock
I will get a cable and hang myself ... What the phuk r u doing? Meanwhile UJ is falling like a rock... I think I am in the wrong currency...
LOL...

yeah.. and when u are in UJ... cable comes out guns blazing.. :
  • #32,554
  • Sep 25, 2007 5:55am Sep 25, 2007 5:55am
Quoting MPP
touchy touchy

i trade each pair with a different system, EU - Jackos etc and i have been making pips on GJ from Aus's systems. however they are the sit there and play systems not the set and forget type.

I like it - it works for now we wait and see what the future brings, it's also trading the GU well.

don't dismiss it just because it's not the way you trade, you should look at every system with open eye's one day you may find the system that lets you play more and work less, be open minded aboout these things.

here's one i've just started reading Daily95pips, set and forget, so easy it's crazy, but it seems they are making pips. and they only use the last daily candle with a few tp's and Sl's 2 hours work at most.

when the market is quite take the tie to look around i even found one trader playing with only 1 euro (the one euro man)

happy trading, no holy grail yet unfortunatly.

I dont mean to knock his thread or his system. I personally dont trade that pair because its more like playing craps and roulette than trading, Sure you can make 400 pips in a day, and then spend the rest of the week giving it all back.
Just Trade It
  • #32,555
  • Sep 25, 2007 5:56am Sep 25, 2007 5:56am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting bullrock
Check my thread It is sort of dead but it is dead simple too...
will add that to my read list

cheers
  • #32,556
  • Sep 25, 2007 6:01am Sep 25, 2007 6:01am
Quoting Big Wave Rider
I dont mean to knock his thread or his system. I personally dont trade that pair because its more like playing craps and roulette than trading, Sure you can make 400 pips in a day, and then spend the rest of the week giving it all back.
Morning all.. another uninspiring day for me. Boring. Thus, more likely to be profitable...

GJ is within a triangle too. There is no point in struggling for 100-200 pips there if there are 2,000 to go on the breakout.

Same for cable. I'm with WTB on this one, as I posted yesterday. Cable is going to spray pips all over the place when kicked out of the triangle. īTil then, gotta waaaaaiiiiitttt....
  • #32,557
  • Sep 25, 2007 6:10am Sep 25, 2007 6:10am
Quoting cesarnc
Morning all.. another uninspiring day for me. Boring. Thus, more likely to be profitable...

GJ is within a triangle too. There is no point in struggling for 100-200 pips there if there are 2,000 to go on the breakout.

Same for cable. I'm with WTB on this one, as I posted yesterday. Cable is going to spray pips all over the place when kicked out of the triangle. īTil then, gotta waaaaaiiiiitttt....

I see you have been hanging out in Jackos thread, This is not the same ceaser as two weeks ago, gettin all technical minded and stuff. And WAITING???? Where's the real ceasernc?
Just Trade It
  • #32,558
  • Sep 25, 2007 6:11am Sep 25, 2007 6:11am
My GBP/USD chart.

iiivb
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.JPG Size: 100 KB
  • #32,559
  • Sep 25, 2007 6:15am Sep 25, 2007 6:15am
Quoting dd33
For me.. its becoz cable is ranging above 100 pips daily.. high volatility.. compared to euro which is around 70 pips..
i really missing those day cable jump up and down for 200pips perday..
  • #32,560
  • Sep 25, 2007 6:20am Sep 25, 2007 6:20am
Quoting happyliving
i really missing those day cable jump up and down for 200pips perday..
could always have 50pip x 4 lots.
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