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Cable Update (GBPUSD)

  • #57,981
  • Mar 12, 2008 9:51am Mar 12, 2008 9:51am
Abuawad.. congrats on your continuing analyses and success. I have to admit that in trying to go back and figure the various aspects of your daily methodology that I'm somewhat confused.

But this is my fault.. i think you laid the particulars out in detail, but I've managed to lose them.

What I'm trying to remember is how you project targets.. ie.. which fibos do you use.. daily, 4hr, i hr, or combo?

And from these how do you arrive at the opposite side targets?
"I know how hard it is for you to put food on your family." George W. Bush
  • #57,982
  • Edited 10:14am Mar 12, 2008 9:56am | Edited 10:14am
Agree with your EU support, took a long position hoping for a 1.5500 retest maybe even break.

GU's to short term choppy to risk MM wise here for me.

JU's signalled a short term top in a down trend so should aid GU and EU's attempt at the highs.


* my ability to stop the market dead in its track upon taking a position never ceases to amaze me 30min DT formed *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,983
  • Mar 12, 2008 10:16am Mar 12, 2008 10:16am
Quoting nAVIN2007
only time will tell ...its neither here or there...as for the pin..the tip of the pin is the resistance area...showing it heavy resistance spot...i think down today up later...its needs news to break.

the pin thing i posted has a close lower than the previous candle so its valid as a bearish signal..
No that is wrong Nav,its in traffic and the top has been boken,it is not valid ,time will tell you are right my friend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,984
  • Mar 12, 2008 10:21am Mar 12, 2008 10:21am
Quoting Bones
No that is wrong Nav,its in traffic and the top has been boken,it is not valid ,time will tell you are right my friend
oh i see...we definetely in traffic but this conjestion say to me we likely gonna go up..especially as the 4hr candle is still bullish..so i gues your right after all but as always there needs confirmation
  • #57,985
  • Mar 12, 2008 10:23am Mar 12, 2008 10:23am
Quoting 4x_Trader
At what rate you buy? your target and stop loss? Always remember there is no impossible in Forex Market everything is possible because the Markets never Sleep!
My first buy was around 1.9400 in this run up . Idon’t have that buy as I drop them and buy in again lower if I can. It’s well documented here on the thread.
Abuawad gave me that first buy as he posted a Monthly up fan which I brought from,
my Target is 2.0475 which again is well documented.

Hope this helps.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,986
  • Mar 12, 2008 10:25am Mar 12, 2008 10:25am
I dont use a stop loss close to price action again well documented
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,987
  • Mar 12, 2008 10:26am Mar 12, 2008 10:26am
Quoting 4x_Trader
Yup because the markets never sleep! Always remember successful traders are prepared for all eventualities on any given trading day. They come to work with a plan that includes many contingencies and not just what they hope will happen. Meaning, in your own trading program you should have predetermined answer to the following questions:

What happens IF?........

* prices open sharply higher or lower?
* the market is very quiet?
* the market is very volatile?
* the market makes new high or new lo?
* the market goes up early and reverses later?
* the market goes down early and reverses later?

Successful Traders keep a low profile.
Successful Traders "listen" to the market. Unsuccessful Traders attempt to impose their will on the market!.......just my 2 cents!
I agree with that 100%
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,988
  • Mar 12, 2008 10:28am Mar 12, 2008 10:28am
Quoting Bones
I dont use a stop loss close to price action again well documented
Im Impressed m8...yur developing into a excellent trader and i think if u carry on like this buddy ..u gonna hit the big time profits good luck to u ...
  • #57,989
  • Mar 12, 2008 10:31am Mar 12, 2008 10:31am
Quoting nAVIN2007
Im Impressed m8...yur developing into a excellent trader and i think if u carry on like this buddy ..u gonna hit the big time profits good luck to u ...
Yes, I agree COMPLETELY!! Bones is doing very well!!

Keep it up.

  • #57,990
  • Mar 12, 2008 10:32am Mar 12, 2008 10:32am
anyone know where to get live video/radio feeds or telecast of when bernanke, trichet, etc speak?
Trade the reaction, not the news!
  • #57,991
  • Mar 12, 2008 10:35am Mar 12, 2008 10:35am
40pips bagged, a trade worth actually trading for once

Got to see a client, wishing I'd held
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,992
  • Mar 12, 2008 10:36am Mar 12, 2008 10:36am
Quoting nAVIN2007
Im Impressed m8...yur developing into a excellent trader and i think if u carry on like this buddy ..u gonna hit the big time profits good luck to u ...
A stop loss often has the opposite effect and when I did use them I used a hedge. Nav I am not recommending this to you yet as you are not ready for that buddy.

Keep your bets small and your stoploss where its supposed to be.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,993
  • Mar 12, 2008 10:36am Mar 12, 2008 10:36am
up and away we go...
Trade the reaction, not the news!
  • #57,994
  • Mar 12, 2008 10:37am Mar 12, 2008 10:37am
Quoting nAVIN2007
Im Impressed m8...yur developing into a excellent trader and i think if u carry on like this buddy ..u gonna hit the big time profits good luck to u ...
Sorry posted twice
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,995
  • Mar 12, 2008 10:55am Mar 12, 2008 10:55am
where are all the confident chartists from 2 weeks ago who were betting each other whether it would be 1.92 or 1.91 and saying the GBP was history ?

a bit quiet - perhaps they are still on tranquilizers after the losses

nobody seems to be guessing more than a couple of hours in front at the mo
  • #57,996
  • Mar 12, 2008 10:55am Mar 12, 2008 10:55am
Quoting Bones
A stop loss often has the opposite effect and when I did use them I used a hedge. Nav I am not recommending this to you yet as you are not ready for that buddy.

Keep your bets small and your stoploss where its supposed to be.
I thought abt hedging and left it there....thats something i will leave to the experts.....imagine id definately blow my account...

see what just happened.....thats exactly why i never use stop loss either...any1 that did have been spiked out ...right at the support.
  • #57,997
  • Mar 12, 2008 11:06am Mar 12, 2008 11:06am
Quoting allserene
where are all the confident chartists from 2 weeks ago who were betting each other whether it would be 1.92 or 1.91 and saying the GBP was history ?

a bit quiet - perhaps they are still on tranquilizers after the losses

nobody seems to be guessing more than a couple of hours in front at the mo
lol, they was acting like soros jr trying tp predict the market and we all know you can't do that you have to trade was going on at the moment, i hope there not in the same boat as he is.
If I Go Broke Trying Then I Will die happy.
  • #57,998
  • Mar 12, 2008 11:12am Mar 12, 2008 11:12am
Quoting Moe
lol, they was acting like soros jr trying tp predict the market and we all know you can't do that you have to trade was going on at the moment, i hope there not in the same boat as he is.
Im glad u confirmed that cause it impossible isnt it to know what the hell market will do..it could have easily bounced at 50% fib now it seem like 61.8 is the target...
actually damn ..we havent even got to the 50% yet ..
  • #57,999
  • Mar 12, 2008 11:54am Mar 12, 2008 11:54am
Quoting AmeriTrini
We have 2 pieces of important data for the $ in the next two days of trading, look out for pound bullishness.
or bearishness because we saw how a little move from the fed yesterday knocked cable under 2.00.

beware dollar is looking like a deal these days for people who buy at low prices so a bit of good news for dollar can go a long way.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,000
  • Mar 12, 2008 11:55am Mar 12, 2008 11:55am
Quoting nAVIN2007
Im glad u confirmed that cause it impossible isnt it to know what the hell market will do..it could have easily bounced at 50% fib now it seem like 61.8 is the target...
actually damn ..we havent even got to the 50% yet ..
lol, yup, i will say that there are times where you can pretty much see where the market is heading but i wound't put all my eggs in that basket.
If I Go Broke Trying Then I Will die happy.
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