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Cable Update (GBPUSD)

  • #57,061
  • Mar 4, 2008 8:17am Mar 4, 2008 8:17am
Quoting karmostaji
IMO news will always be somehow priced in the charts, so I trade the charts without giving myself a headache about news and it's been pretty profitable for me
Good point.... seems news spikes the charts .. but the long term trend prevails
Blogging daily now at www.volume.zone
  • #57,062
  • Mar 4, 2008 8:49am Mar 4, 2008 8:49am
Okay I'm off to the bank, I predict a 60pip move, probality of UP while I'm out, and I have no trade in, so it's a sure thing.

Spend it wisely
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,063
  • Mar 4, 2008 8:51am Mar 4, 2008 8:51am
I bought 1.9854, still showing no direction, but moving stop to protect few pips if it turned.
  • #57,064
  • Mar 4, 2008 9:29am Mar 4, 2008 9:29am
Locked in this range, it’s very annoying isn’t it. I am just wondering what news is going to break it do we really have to wait to Thursday. I know that there a hell of a lot of resistance above but the base is looking stronger to me.
The 9807 is weekly pivot on my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: daily tt.gif Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,065
  • Mar 4, 2008 9:40am Mar 4, 2008 9:40am
Sorry all, I guess my warning you all jinxed it!! very strange!!

To risk Long positions on pull backs to @1.9865 area to get some of the chop, no time to wait for the trend to change though, so risky for 10pips max profit.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,066
  • Mar 4, 2008 9:41am Mar 4, 2008 9:41am
Quoting Bones
Locked in this range, it’s very annoying isn’t it. I am just wondering what news is going to break it do we really have to wait to Thursday. I know that there a hell of a lot of resistance above but the base is looking stronger to me.
The 9807 is weekly pivot on my chart.
looking the same here. i think we r gona have to wait to thursday.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,067
  • Mar 4, 2008 10:23am Mar 4, 2008 10:23am
Quoting salah k.
looking the same here. i think we r gona have to wait to thursday.
we sure will have to, GBP/USD has gone nuts these days, seems to fall in love with the 72 ema...lol! i can't wait for it to transform into a nice trend, let's just hope it happens soon.
I believe . . .
  • #57,068
  • Mar 4, 2008 10:23am Mar 4, 2008 10:23am
the charts right now are making no sense....any1 trading without mm rules would have lost money today...u cant have a stop loss right now..theres spike all over the place ?????
  • #57,069
  • Mar 4, 2008 10:30am Mar 4, 2008 10:30am
Quoting nAVIN2007
the charts right now are making no sense....any1 trading without mm rules would have lost money today...u cant have a stop loss right now..theres spike all over the place ?????
no position is a position.
Trade what you see, not what you think.
  • #57,070
  • Mar 4, 2008 10:34am Mar 4, 2008 10:34am
Quoting karmostaji
no position is a position.
for sure ...I got so fedup with work today i almost started trading live...but then i remebered how cable is behaving and started having second thoughts ...lol

I shall learn to have patience...thats whats needed right now ..
  • #57,071
  • Mar 4, 2008 10:57am Mar 4, 2008 10:57am
If my order is not triggered and price goes above leg D, then the Gartley pattern is invalid and I take a trade on the break out of the range for 100 pips until the X to C 127% fibo for TP. At that point my Gartley becames a Buttlerfly and I place a sell pending order bellow the 23% fibo from leg C to D, with TP at 61% retracement. If not triggered again, well 161% my next target TP area and the cicle repeat again, selling bellow the 23% of leg C-D.

Let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD Daily Patterns March 4-2008.png Size: 47 KB
  • #57,072
  • Mar 4, 2008 11:16am Mar 4, 2008 11:16am
Quoting Carrera
If my order is not triggered and price goes above leg D, then the Gartley pattern is invalid and I take a trade on the break out of the range for 100 pips until the X to C 127% fibo for TP. At that point my Gartley becames a Buttlerfly and I place a sell pending order bellow the 23% fibo from leg C to D, with TP at 61% retracement. If not triggered again, well 161% my next target TP area and the cicle repeat again, selling bellow the 23% of leg C-D.

Let's see.
its looking good ...im not sure about the direction thou ...we really are bang right in the middle..
  • #57,073
  • Mar 4, 2008 11:27am Mar 4, 2008 11:27am
Navin, can dig it man, self employeed but also fed up off it all, barely done any work in over a week, shhhhhh

USDJPY making more sense than GBPUSD at the moment.


* need to solve my chart issues, keep losing feed always another problem *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,074
  • Mar 4, 2008 11:30am Mar 4, 2008 11:30am
Quoting Turveyd
Navin, can dig it man, self employeed but also fed up off it all, barely done any work in over a week, shhhhhh

USDJPY making more sense than GBPUSD at the moment.


* need to solve my chart issues, keep losing feed always another problem *
u sound like your in the same boat as me ....im also self employed and work really is getting me down..the last thing i wanna do is lose money thats why trading scares the hell out of me ..when its like this
  • #57,075
  • Mar 4, 2008 11:33am Mar 4, 2008 11:33am
Quoting nAVIN2007
its looking good ...im not sure about the direction thou ...we really are bang right in the middle..
I'm not worry about direction. As you can see, I use triggers orders so If price goes the other way, nothing happens. But if my order is triggered, then I have to stick with my trading plan and thats called dicipline my friend.

Also my MM is very good to me. Never trade without it, just my advice.

Take care nAVIN and go live only if you feel you are ready, don't let anyone to push you into that without proper proparation.

Have a good trading plan.
Have a good strategy.
Have a good dicipline.
Have a good MM. Spread sheet is very good.
And have sucess trading and enjoy life.

Damn, I sound like a father, imao.
  • #57,076
  • Mar 4, 2008 11:41am Mar 4, 2008 11:41am
Quoting nAVIN2007
for sure ...I got so fedup with work today i almost started trading live...but then i remebered how cable is behaving and started having second thoughts ...lol

I shall learn to have patience...thats whats needed right now ..
you can always trade gbp/jpy
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,077
  • Mar 4, 2008 11:41am Mar 4, 2008 11:41am
....thx man
  • #57,078
  • Edited 11:56am Mar 4, 2008 11:42am | Edited 11:56am
Quoting salah k.
you can always trade gbp/jpy
I have never tried trade that pair ..might start today
I cant trade that pair ...it isnt with the broker ..odl
  • #57,079
  • Mar 4, 2008 11:47am Mar 4, 2008 11:47am
good luck man just remember there are a lot of outside factors that have effect on this currency.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,080
  • Mar 4, 2008 11:55am Mar 4, 2008 11:55am
Quoting salah k.
good luck man just remember there are a lot of outside factors that have effect on this currency.
Yeap, like DOW.
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