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Cable Update (GBPUSD)

  • #56,721
  • Feb 29, 2008 11:29am Feb 29, 2008 11:29am
Support at 6hour sma, so I'd be playing for a long to.

USDJPY stop hunted and is running north, as expected.

Sadly ZERO interest, I think all of my in my head only plays have worked this far
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,722
  • Feb 29, 2008 11:29am Feb 29, 2008 11:29am
Quoting iakq
the dail chart is showing a bat formation.....which means a bounce back to 93 levels............open for comments...
don't really know what you're referring to as a bat, but i see it as a double top, with that major resistance at 1.9940...even i would like to support your analysis of the pair heading down after this bounce, Monday will reveal a better picture of the whole thing...
I believe . . .
  • #56,723
  • Feb 29, 2008 11:31am Feb 29, 2008 11:31am
As long as the volatility remains high and the moves remain pronounced ie big enough to get in after they turn and still make 10+ pips I'm happy.

Don't care where it goes other than that.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,724
  • Feb 29, 2008 11:33am Feb 29, 2008 11:33am
Quoting Turveyd
As long as the volatility remains high and the moves remain pronounced ie big enough to get in after they turn and still make 10+ pips I'm happy.

Don't care where it goes other than that.
scalping at 10+ pips ..whats your broker spread on cable?
  • #56,725
  • Edited 12:21pm Feb 29, 2008 11:42am | Edited 12:21pm
Quoting Turveyd
Navin, -$1.47 per trade last 50 trades currently, so not me yet, ask me again in 3months pls


Biggest winning streak was 7 trades here, but target is 70%-80% profitable trades, losers @13pips average, Wins @22pips average ( I say this cause thats how my Demo account looked )

Works out at + 22 + 22 - 13 = +31pips every 3 trades average, well just over do me nicely!!
cool...just keep it up!!!
  • #56,726
  • Feb 29, 2008 11:44am Feb 29, 2008 11:44am
10pips after the spread, I will say, mid 3's with FXCM on GU, EU mid 2's.

Going to say there stupid 1.9859.2 ( with the point ), making it hard to read quickly and is annoying and not worth the 0.8pips it can save.

I'm aiming for 20pips+ really, but happy with 2+
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,727
  • Feb 29, 2008 11:46am Feb 29, 2008 11:46am
my indicator tells to go short at 1.9855.. but i think it just gonna stall until the market close.. anyone here still on short before the market close?
  • #56,728
  • Feb 29, 2008 11:48am Feb 29, 2008 11:48am
im on fxsol .. damn 5 pips spread on cable.. maybe i need to change broker.. but been there for 14 months now
  • #56,729
  • Feb 29, 2008 11:49am Feb 29, 2008 11:49am
Second Stall, USDJPY stalled to!!

Out on the bike remove some stress, trade carefully all and rest well over the weekend, cause there be pips to get next week.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,730
  • Feb 29, 2008 11:53am Feb 29, 2008 11:53am
Quoting Turveyd
Second Stall, USDJPY stalled to!!

Out on the bike remove some stress, trade carefully all and rest well over the weekend, cause there be pips to get next week.
thanks for the input .. i guess im done trading for the week.. gonna watch some dvd
  • #56,731
  • Feb 29, 2008 12:08pm Feb 29, 2008 12:08pm
Well that was interesting. I set my buy at 1.9762 +spread (that daily rising TL)and price dropped to 1.9783 and bounced. It actually got stopped by the days S1.
I did not react to that as I can not watch market during the day.
Ive been looking at my weekly chart.
Now the price as it is now falls very nice on to a rising trend line yet to be confirmed by the third point.
After it is confirmed on Sunday close it is free to go up or down but at least it is confirmed and long trades look good.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,732
  • Feb 29, 2008 12:19pm Feb 29, 2008 12:19pm
The other thing we, if price consolidates at this level that would give 2 bullish pins in a row. Not tiny little pins these babies are whoppers. I mean I thought about this months candle and really was anticipating a hammer.

With this in mind late 2.,4 -2.5 is still a good target for the month just gotta wait for Sunday close.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,733
  • Feb 29, 2008 12:21pm Feb 29, 2008 12:21pm
Actually if it drops just a bit it is a hammer isn’t it?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,734
  • Feb 29, 2008 12:37pm Feb 29, 2008 12:37pm
Buy off 4hr rising trend line
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hour.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,735
  • Feb 29, 2008 1:21pm Feb 29, 2008 1:21pm
Quoting Bones
Buy off 4hr rising trend line
the plan looks excellent .....only thing is i think we are going down
why do u reckon we will see 2.5 or around this figure?
  • #56,736
  • Feb 29, 2008 1:24pm Feb 29, 2008 1:24pm
Hey thats great Nav ,nows a good time for you to post your chart,give me the 4hr,my friend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,737
  • Feb 29, 2008 1:31pm Feb 29, 2008 1:31pm
well Im trying something different ..gonna try take my trading to the next level see diagram.
directly above us is yearly pivot..inbetween the blue lines is the channel we appear to be in the bottom is like 1.93 ish area
price is rejected from the top line....
Attached Image (click to enlarge)
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  • #56,738
  • Feb 29, 2008 1:31pm Feb 29, 2008 1:31pm
Quoting Bones
Buy off 4hr rising trend line
There you go!!
  • #56,739
  • Feb 29, 2008 1:36pm Feb 29, 2008 1:36pm
where you been man,Ya think the 4hr tl is good?
BTW just noticed thanks,
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,740
  • Feb 29, 2008 1:41pm Feb 29, 2008 1:41pm
Quoting Bones
Buy off 4hr rising trend line
hey buddy
just wanted to ask u
do u think that line will hold for long? because it seems that a brake could happen any moment.
"what doesn't bankrupt me, makes me stronger" modern nietzche
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