You should at least put SL above 2.0450 just now... that is above 50% Fibbo line. Anyway... I am sure you position in GJ floating more than 50pips on the green now
- #3,804
- Dec 14, 2007 7:05am Dec 14, 2007 7:05am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
News doesnt affect the movement anymore, especially during friday profit taking night, many big players out there fooling around, so its always best to stay out of news trade n friday. Many uncertainty out there, movement is always moving different directions.
Have a peek to the chart :surprised 2.0217 !!!!! I was right... SFB rock tonight 
But I didn't trade after getting so much already 
: It seems that 2.0000 will be possible sooner than expected. p/s: I heard so many traders got MARGIN CALL tonight... what were they thinking... AGAINST the market
- #3,805
- Dec 14, 2007 7:13am Dec 14, 2007 7:13am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Already at the bottom of the CHANNEL. Still got room some more to drop further. Will it be a BREAKOUT... and we shall see the era of CABLE below 2.0000 next year... or just gonna be a FALSE breakout... then SHOOT UP again above 2.1000 CABLE at a very CRITICAL LEVEL now.
p/s: This is the time for LONG TERM trader to make a decision. To LONG all the way UP the Channel... or SHORT and 2.0000 never gonna be seen again. Serious FA is needed.
CABLE at a very CRITICAL LEVEL now. p/s: This is the time for LONG TERM trader to make a decision. To LONG all the way UP the Channel... or SHORT and 2.0000 never gonna be seen again. Serious FA is needed.
- #3,806
- Dec 14, 2007 7:49am Dec 14, 2007 7:49am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
I also notice that when US Economy is doing GOOD... RISK AVERSION thinggy... All the CARRY TRADES becoming favorable
p/s: Those trading with JPY pairs... learn something about the Fundamental of CARRY TRADES before you dare to trade JPY pairs.
p/s: Those trading with JPY pairs... learn something about the Fundamental of CARRY TRADES before you dare to trade JPY pairs.
I also notice that when US Economy is doing GOOD... RISK AVERSION thinggy... All the CARRY TRADES becoming favorable
p/s: Those trading with JPY pairs... learn something about the Fundamental of CARRY TRADES before you dare to trade JPY pairs.
Since last US interest rate statement action, I know that carry trade will be affected by US stock market.
And since GBPJPY is affected by USDJPY and GBPUSD. Initially I hope that eventhough US is doing good, eventhough USDJPY will rise, the GBPUSD will fall more significant which affect GBPJPY to fall south. But now seems like GBPUSD and USDJPY is battling to own GBPJPY...
hmm...hey u two, why dont u 2 be peace and going south togather..
- #3,808
- Dec 14, 2007 8:37am Dec 14, 2007 8:37am
Notice that...
Since last US interest rate statement action, I know that carry trade will be affected by US stock market.
And since GBPJPY is affected by USDJPY and GBPUSD. Initially I hope that eventhough US is doing good, eventhough USDJPY will rise, the GBPUSD will fall more significant which affect GBPJPY to fall south. But now seems like GBPUSD and USDJPY is battling to own GBPJPY...
hmm...hey u two, why dont u 2 be peace and going south togather..
guys,
trade what you see. everything is priced in ???. price crossed down 50ema, rsi just below 50. go short
- #3,809
- Dec 14, 2007 8:38am Dec 14, 2007 8:38am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Unless there's NEWS saying otherwise... the highest it can go is around 2.03xx. That is around 50%Median or 61.8% Fibbo Retracement. Below that... RISK MANAGEMENT... Safer to SELL FROM BOUNCE rather than BUY FROM DIP. Just be patience
Below that... RISK MANAGEMENT... Safer to SELL FROM BOUNCE rather than BUY FROM DIP. Just be patience 
- #3,810
- Dec 14, 2007 8:46am Dec 14, 2007 8:46am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Cable went up to 2.0240 and then WHAMP!!! came back down below 2.0200. SELL FROM BOUNCE ROCK
- #3,811
- Dec 14, 2007 11:24pm Dec 14, 2007 11:24pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
About 300 pips drop last night :surprised Very rare indeed. For those who go AGAINST the market... a lesson learn
Review back... which one was more profitable and less risk out of last night market psychology:
SELL FROM BOUNCE >>> SFB
or
BUY FROM DIP >>> BFD
Very rare indeed. For those who go AGAINST the market... a lesson learn Review back... which one was more profitable and less risk out of last night market psychology:
SELL FROM BOUNCE >>> SFB
or
BUY FROM DIP >>> BFD
- #3,812
- Dec 15, 2007 12:12am Dec 15, 2007 12:12am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Next week I will just gonna watch and catch the second train. Lots of PATIENCE needed.
The scenario gonna be... RETRACE back or REVERSAL or BREAK that SUPPORT and further down. I am sticking with the SFB strategy as long as 61.8% from the recent HIGH LOW is not broken. Breaking that... I'll go for BFD. The best thing is just watch first and catch the next wave/train GREEDY is the ricepy for Margin Call
p/s: I am Intraday Trader. Long Term trader might have different point of view.
The scenario gonna be... RETRACE back or REVERSAL or BREAK that SUPPORT and further down. I am sticking with the SFB strategy as long as 61.8% from the recent HIGH LOW is not broken. Breaking that... I'll go for BFD. The best thing is just watch first and catch the next wave/train
GREEDY is the ricepy for Margin Callp/s: I am Intraday Trader. Long Term trader might have different point of view.
- #3,815
- Dec 15, 2007 5:17am Dec 15, 2007 5:17am
Next week I will just gonna watch and catch the second train. Lots of PATIENCE needed.
The scenario gonna be... RETRACE back or REVERSAL or BREAK that SUPPORT and further down. I am sticking with the SFB strategy as long as 61.8% from the recent HIGH LOW is not broken. Breaking that... I'll go for BFD. The best thing is just watch first and catch the next wave/train
p/s: I am Intraday Trader. Long Term trader might have different point of view.
When you BFD, do you buy immediately once the price hit the 20ema and stoch is showing a curve up (blue crosses red) and when you SFB, price must also hit the 20ema and stock is curving down (red crosses blue)? I'm still clueless as to the exact/perfect entry point and worse still, SFB is something I need to improve upon. My stock I use Stochastic slow with setting at 5,3,3 but it doesn't look like yours and hard to see if it's crossing the other one. Any suggestion or should I use the stoc fast? Yours is easier to see as it's crystal clear.
As always, thank you.
- #3,816
- Dec 15, 2007 9:25am Dec 15, 2007 9:25am
My personal on trend in particular GBPUSD and EURUSD (I like this two pairs and GBPJPY ) is something like this. First, lets take GBPUSD as example. Attached herewith are the weekly and daily chart. In the weekly chart, I have a thick red line which represent a very long time trend. FYI, the trend line is extended from since the beginning MT4 let me do it, so basically I cant show them. The thick yellow one you can see it very clear and then another thin yellow line. What it shows? An uptrend..a very steep. The thin yellow line represents the steep uptrend, and looking at its angle of ascent, normally its will be very hard for a very sharp trend to maintain. Therefore, it will break but it does not necessary a reversal. Technically, breaks of a steep trend is not as significant as it does to the more gradual trend. I believe penetration of the trend will result in a corrective movement then it will resumes its trend. So we can say that penetration of a steep trend will usually (not sure) more to continuation of the greater trend rather than reversal. The penetration will reduce the steep trend greatly but it also will makes it more sustainable. Okay, lets look at the EURUSD. Again thick red line, thick yellow line and thin yellow line. Similar view. Can you see how steep it is and how far the price ran from the line? Eventually it breaks. But personally think it will correct, reduce greatly and finally resume its trend but at more sustainable pace. This view is roughly based on whatever the price information I can have from my platform..if more data, maybe EURUSD for example is not trending up but in a big wide mega ranging market (forget this for now).
So I am not saying that hey everybody come..come..buy when its dip based on this. Doing this will kill you all (including me) especially if it happens to be a correction. I will not trade this information…forget it and not in my sane mind. This is only a guide..something like… Oh.. EURUSD steep trend is broken, maybe there will be a good opportunity to sell it. But when to sell or buy or get out, that’s another story.
Hope I don’t bored you all. First, Get a bird eye view, then we decide whether to trade it or not. It applies to other pair or market.
Regards,
G33maroon
p/s:have difficulty to load the charts. i will try later.
) is something like this. First, lets take GBPUSD as example. Attached herewith are the weekly and daily chart. In the weekly chart, I have a thick red line which represent a very long time trend. FYI, the trend line is extended from since the beginning MT4 let me do it, so basically I cant show them. The thick yellow one you can see it very clear and then another thin yellow line. What it shows? An uptrend..a very steep. The thin yellow line represents the steep uptrend, and looking at its angle of ascent, normally its will be very hard for a very sharp trend to maintain. Therefore, it will break but it does not necessary a reversal. Technically, breaks of a steep trend is not as significant as it does to the more gradual trend. I believe penetration of the trend will result in a corrective movement then it will resumes its trend. So we can say that penetration of a steep trend will usually (not sure) more to continuation of the greater trend rather than reversal. The penetration will reduce the steep trend greatly but it also will makes it more sustainable. Okay, lets look at the EURUSD. Again thick red line, thick yellow line and thin yellow line. Similar view. Can you see how steep it is and how far the price ran from the line? Eventually it breaks. But personally think it will correct, reduce greatly and finally resume its trend but at more sustainable pace. This view is roughly based on whatever the price information I can have from my platform..if more data, maybe EURUSD for example is not trending up but in a big wide mega ranging market (forget this for now).So I am not saying that hey everybody come..come..buy when its dip based on this. Doing this will kill you all (including me) especially if it happens to be a correction. I will not trade this information…forget it and not in my sane mind. This is only a guide..something like… Oh.. EURUSD steep trend is broken, maybe there will be a good opportunity to sell it. But when to sell or buy or get out, that’s another story.
Hope I don’t bored you all. First, Get a bird eye view, then we decide whether to trade it or not. It applies to other pair or market.
Regards,
G33maroon
p/s:have difficulty to load the charts. i will try later.
I am bored..
- #3,817
- Dec 15, 2007 9:58am Dec 15, 2007 9:58am
My personal on trend in particular GBPUSD and EURUSD (I like this two pairs and GBPJPY
So I am not saying that hey everybody come..come..buy when its dip based on this. Doing this will kill you all (including me) especially if it happens to be a correction. I will not trade this information…forget it and not in my sane mind. This is only a guide..something like… Oh.. EURUSD steep trend is broken, maybe there will be a good opportunity to sell it. But when to sell or buy or get out, that’s another story.
Hope I don’t bored you all. First, Get a bird eye view, then we decide whether to trade it or not. It applies to other pair or market.
Regards,
G33maroon
p/s:have difficulty to load the charts. i will try later.
I am bored..
- #3,818
- Dec 16, 2007 6:09pm Dec 16, 2007 6:09pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Good Morning Malaysia 
This thread always DEAD if I am not here. Why laaaaaaa?
Huhuhu... RETRACEMENT time for CABLE... can it be REVERSAL... to early to make any conclusion.
Deja Voo. Last week... Asian Session was Ignoring this... when LONDON OPEN... kebaaaBOMMMM.... drop like crazy. For this week... anything could happen.
I am STAYING ASIDE first. Might SELL FROM BOUNCE when 20wma is touched on H1 chart with TIGHT SL. If SL hit... I'll find hints for possible REVERSAL and start BUY FROM DIP. Right now... PATIENCE....
This thread always DEAD if I am not here. Why laaaaaaa?Huhuhu... RETRACEMENT time for CABLE... can it be REVERSAL... to early to make any conclusion.
8:01am GBP http://www.forexfactory.com/images/m...act_medium.gif Rightmove House Price Index m/m -3.2% -0.7%
Deja Voo. Last week... Asian Session was Ignoring this... when LONDON OPEN... kebaaaBOMMMM.... drop like crazy. For this week... anything could happen.
I am STAYING ASIDE first. Might SELL FROM BOUNCE when 20wma is touched on H1 chart with TIGHT SL. If SL hit... I'll find hints for possible REVERSAL and start BUY FROM DIP. Right now... PATIENCE....
