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Cable Update (GBPUSD)

  • #4,781
  • Jan 3, 2007 9:12pm Jan 3, 2007 9:12pm
Goodthings,

4hr Vegas slope change! I wasn't exactly right because I set the limit order early because I had to sleep. It kicked in at 0415 CST. I was almost ready to hit it at 0200 but I wanted to see what the market would do. I gave it a 10 pip window to be sure, but I saw this short coming off the fundamentals for a long time, it was just a matter of price and timing.
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,782
  • Jan 3, 2007 9:14pm Jan 3, 2007 9:14pm
9541 resistance?
  • #4,783
  • Jan 3, 2007 9:16pm Jan 3, 2007 9:16pm
Tom Demark didn't hurt either. Also, look at EUR/USD, GBP/USD, and USD/CHF simultaneously for information. One will usually lead the others, at least right now, and it is a great indicator that requires no math, just naked charts. You can get a sense of direction from doing that.
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,784
  • Jan 3, 2007 9:17pm Jan 3, 2007 9:17pm
Just an update of what I am looking at and have been long for awhile now, If you look at the 4 hr charts we had a not so great pin off good resistance and then the next 4 hr bar was an inside bar. If you take the two bars together we get a nice pin bar that is almost broken now.

Ill post chart if needed.

Best,
Mike
  • #4,785
  • Jan 3, 2007 9:18pm Jan 3, 2007 9:18pm
Thanks

Just curious
  • #4,786
  • Jan 3, 2007 9:19pm Jan 3, 2007 9:19pm
Please do
Quoting mbqb11
Just an update of what I am looking at and have been long for awhile now, If you look at the 4 hr charts we had a not so great pin off good resistance and then the next 4 hr bar was an inside bar. If you take the two bars together we get a nice pin bar that is almost broken now.

Ill post chart if needed.

Best,
Mike
  • #4,787
  • Jan 3, 2007 9:21pm Jan 3, 2007 9:21pm
It's nice to see you work well with others, mbqb11, I don't. Please post that chart, though, I'd be interested to see your analysis. Mine is pretty combinative between technical and fundamental, and really subjective, but it's working so far.

Also, to the guy who said that I like to talk a lot of shit, thank you for the complement!
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,788
  • Jan 3, 2007 9:23pm Jan 3, 2007 9:23pm
i have been long since 1.9500. It would be nice to see this next 4 hr close abve the first of those two 4hr bars in the pin formtion. I am not saying this is gonna be a long move or just a retracement. I will be moving stops to b/e soon most likely.

Mike
Attached Image
  • #4,789
  • Jan 3, 2007 9:24pm Jan 3, 2007 9:24pm
Quoting dukeofdents
It's nice to see you work well with others, mbqb11, I don't. Please post that chart, though, I'd be interested to see your analysis. Mine is pretty combinative between technical and fundamental, and really subjective, but it's working so far.

Also, to the guy who said that I like to talk a lot of shit, thank you for the complement!
Hello duke,

I read your posts, and both agree and disagree with some of what you say. That is ok though! Forex is about finding your edge and sticking to it. I don't change how I trade based on thoughts of anyone else. If i miss something I will use it in my analysis. If one finds their edge and uses good money mgmt they can be sucessful many different ways. I am a price action trader, and trade from the monthly to the 5min time frames depending on the situation.

I wish you all success in however you go about getting those pips,
Mike

the previous chart is just the same chart without all the other stuff I have been posting for awhile now.
  • #4,790
  • Jan 3, 2007 9:29pm Jan 3, 2007 9:29pm
Quoting obeewon
imo looks like it will take some time to drift adjusting target to 9545 then will look at short to maybe 9460 i may be wrong but i will trust what i see for now. i will brb
very close to long target of 9545.... may close early... have not decided yet
  • #4,791
  • Jan 3, 2007 9:29pm Jan 3, 2007 9:29pm
Mike,

I just call 'em as I see 'em. That might be bad in 4X but it looks like it's going to make me money so far. As far as being brash and asinine, I'm a Tennessee redneck mechanic, so what do you want? Post that chart, though, brother, you're keeping me in suspense...
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,792
  • Jan 3, 2007 9:30pm Jan 3, 2007 9:30pm
Okay, I see you just posted it while I replied, thanks, man!
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,793
  • Jan 3, 2007 9:31pm Jan 3, 2007 9:31pm
duke,

scroll up, but if you want go back a few pages or i can link u too what i have been looking at. I am simply showing how the 8 hour pin has formed. I think everyone should call them how they see them based on what works for them consistently. Thats where I do agree with you. I don't get excited about a winning trade, or upset about a losing trade.

Best always,
Mike

edit: http://www.forexfactory.com/forexfor...postcount=4679

thats from earlier erveythign gets lost in this crazy big thread
  • #4,794
  • Jan 3, 2007 9:34pm Jan 3, 2007 9:34pm
Mike,

Please wait until London for a big move, don't do it that way! Get confirmation! Just trying to help, man. It's Asian chop-chop, so sorry.

I'm not second-guessing you, bro, (well, actually I am), but it's not the time for this. If you're trying to scalp a few pips that's one thing...
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,795
  • Jan 3, 2007 9:36pm Jan 3, 2007 9:36pm
We're cross-replying each other, BTW. I'm writing replies at the same time you are so we're a few replies behind every time...
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,796
  • Jan 3, 2007 9:36pm Jan 3, 2007 9:36pm
I have been in this trade for a very long time duke. I am not scalping I am simply executing when I see an opportunity. I will re-evaluate my position with time. I also do this consistently and as previously stated I dont know if this will be a small correction or the start of a larger move. It doesn't matter to me. Price will tell me when to enter and exit.

Best,
Michael
  • #4,797
  • Jan 3, 2007 9:38pm Jan 3, 2007 9:38pm
Quoting dukeofdents
We're cross-replying each other, BTW. I'm writing replies at the same time you are so we're a few replies behind every time...
lol i see that. I am looking to get to 1.9550 where we should find resistance

once again I took this trade earlier due to certain reasons which allows me to have a stop under 30 and is worth the risk to ME
  • #4,798
  • Jan 3, 2007 9:43pm Jan 3, 2007 9:43pm
Also, Mike, I diverge from most traders in that I believe that emotion is a tool, and if you don't get excited about winners and pissed about losers you miss something. I'm not an EA, and this is my money. It's food on my table. I won't fight the market to get it back like I'm a gambler, but our emotion is very important. I value and embrace it. If I have discipline, which is another subject, it actually strengthens me. To ignore your emotions in trading means that you repress them, and when you repress them they will come out with a vengeance sooner or later. Manage emotions, but feel them and be them. You absolutely should feel good when you make a killer trade. You absolutely should feel bad on a loser, as well.
"The time to act is when others show signs of tire." --W.D. Gann
  • #4,799
  • Jan 3, 2007 9:43pm Jan 3, 2007 9:43pm
Quoting mbqb11
lol i see that. I am looking to get to 1.9550 where we should find resistance

once again I took this trade earlier due to certain reasons which allows me to have a stop under 30 and is worth the risk to ME

i entered this trade about 5pm est @9510 t/p 9540-9550
  • #4,800
  • Jan 3, 2007 9:44pm Jan 3, 2007 9:44pm
Duke I respect and value your comments, and everyone elses


Keep up the good work all

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