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Cable Update (GBPUSD)

  • #58,381
  • Mar 14, 2008 3:09pm Mar 14, 2008 3:09pm
Quoting fxpredator
Thank you, Abuawad

i didnt close the short yet

my positions are with 6% from my equty (for the hedge i dont pay margin), so if i close the short, or half of it, i can handle many pips

and where do you think is good entry for another long or short, just to double the profitable position? and then to close with CLOSE BY ,after reaching good profit?

best regards
fxp
there maybe a retracement back to the 50 fib...normally theres a retest..beware bud
  • #58,382
  • Mar 14, 2008 3:11pm Mar 14, 2008 3:11pm
Day low 2.0175, add spread and get ask.

Ok, so price has been down at 50% fib. May it now move up? Or are we in a longer bear move, as per bearish gartley on daily.
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  • #58,383
  • Mar 14, 2008 3:14pm Mar 14, 2008 3:14pm
WOWSA's another crazy insane day.

System perfect downtrend on the GU, EU's 24hour SMA held and near highs which woulda confused the issue.

Shame I called today a day off really
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,384
  • Mar 14, 2008 3:17pm Mar 14, 2008 3:17pm
Quoting Bones
Nav I got a few longs in ths area + some on the fall,not this one the last one.I have had a busy day and could not keep an eye on the market so my longs have been way in profit and now down.Suppose I pitched em to high.
damm man!....i know the feeling
When i work and place trades i find they never go right as the market seems to be able to change at a drop of a hat..i think i have learned everything needs confirmation....be carefull buddy try not to out all yur eggs in one basket.

It might be a good time to hedge but i do feel that the 50% fib we should go back to it...as normally fib lines are tested ..i didnt really expect it to come down either especially today...bloody forex
I wish u luck buddy and am sure u already have a solution..
  • #58,385
  • Mar 14, 2008 3:22pm Mar 14, 2008 3:22pm
Quoting nAVIN2007
It might be a good time to hedge but i do feel that the 50% fib we should go back to it...as normally fib lines are tested ..i
What's the high and low of your fib?
  • #58,386
  • Mar 14, 2008 3:30pm Mar 14, 2008 3:30pm
IMVHO, I believe that Cable is going bearish BUT I would wait till the European Session on Monday for confirmation.

Do not take it as a trade signal. I do not give out signals only what I observe from my short and very humble experience in trading.

Good Luck to everyone!

Have a good weekend!
Humble Lifetime Member
  • #58,387
  • Mar 14, 2008 3:33pm Mar 14, 2008 3:33pm
Quoting nAVIN2007
damm man!....i know the feeling
When i work and place trades i find they never go right as the market seems to be able to change at a drop of a hat..i think i have learned everything needs confirmation....be carefull buddy try not to out all yur eggs in one basket.

It might be a good time to hedge but i do feel that the 50% fib we should go back to it...as normally fib lines are tested ..i didnt really expect it to come down either especially today...bloody forex
I wish u luck buddy and am sure u already have a solution..
Yea man Im waiting for weekly close
I still think the bets are good till then
Overall the weeks been ace ,I am frustrated I can not watch the market more as there have been plenty of clues to the highs and lows.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #58,388
  • Mar 14, 2008 3:35pm Mar 14, 2008 3:35pm
Quoting SimonJ
What's the high and low of your fib?
low = 1.9342
high = 2.1132
  • #58,389
  • Edited 3:59pm Mar 14, 2008 3:41pm | Edited 3:59pm
Quoting Bones
Yea man Im waiting for weekly close
I still think the bets are good till then
Overall the weeks been ace ,I am frustrated I can not watch the market more as there have been plenty of clues to the highs and lows.
looking at the weekly chart yes we should go up..i never really used to be honest apart from ptting fibs ..but it does look like it be a bullish week


what do think about the possibility of droping to 2.0100 then bouncing up go bullish?
  • #58,390
  • Mar 14, 2008 3:42pm Mar 14, 2008 3:42pm
Quoting nAVIN2007
there maybe a retracement back to the 50 fib...normally theres a retest..beware bud

thanks nAVIN
  • #58,391
  • Mar 14, 2008 4:05pm Mar 14, 2008 4:05pm
Quoting nAVIN2007
looking at the weekly chart yes we should go up..i never really used to be honest apart from ptting fibs ..but it does look like it be a bullish week


what do think about the possibility of droping to 2.0100 then bouncing up go bullish?
I have no idea right now Nav I need to check my charts over the weekend and get some sleep,lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #58,392
  • Mar 14, 2008 4:10pm Mar 14, 2008 4:10pm
me too ....I skipped the whole week of work just to get better adapted to this forex b4 i lose all my money..I wanna give myself every chance of success.
I will come with a plan over weekend...
  • #58,393
  • Mar 14, 2008 4:16pm Mar 14, 2008 4:16pm
My plan for the weekend is not to think about the markets, be beginning of the week after before my extra money hits but I can add more if that goes hopelessly wrong, the advantage of keeping it small, REALLY hoping and thinking it won't though.

Pretty much booked up all next week with work, try to get the decks clear for the week after, just grab some pips as and when.

Good weekends all!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,394
  • Mar 14, 2008 4:48pm Mar 14, 2008 4:48pm
Quoting Bones
Let me help you with S+R
Ok I said id try to show you pivots work so here goes Turveyd.

Unfortunately I can not play the pivots to the max as you do need to observe price action as and when price meets them but im sure you’d agree price has respected them.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #58,395
  • Mar 14, 2008 5:24pm Mar 14, 2008 5:24pm
Quoting nAVIN2007
....i love the way u break it to them
  • #58,396
  • Mar 14, 2008 5:32pm Mar 14, 2008 5:32pm
Bones, GU chart on todays move, the middle 3 lines are 90, 100, 110sma , I think you'll see the price respected them too, shorting near in the direction of the trend ( when market is trending ) gives very high odd win probabilitys.

This is just part of the sytem.
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,397
  • Mar 14, 2008 6:04pm Mar 14, 2008 6:04pm
Quoting Abuawad
Thanks a lot , but I’m from Palestine

My mistake , i apologise u
Now i dont know why i was thinking u r from Labanon

sorry 4 my english did not use it for a long time , im from poland
  • #58,398
  • Mar 14, 2008 6:26pm Mar 14, 2008 6:26pm
i posted this chart at the begining of the week and i really think this should happen in the medium term
however we have interest rates coming up on tuesday so i dont know if it will
hold true.

i know its a bit simple but i have been analyzing cables behaviour on the charts dating back to 1990's and this is what i realized:

http://www.forexfactory.com/C:%5CDoc...ator%5CDesktop
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"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,399
  • Mar 14, 2008 6:44pm Mar 14, 2008 6:44pm
Quoting Abuawad
Hey gentlemen,
Say hi to the future Forex Master , with this tricky smile:
Handsome fellow like his Dad

Congrats Abuawad

cheers

TraderJR
Darkness lies one inch ahead..
  • #58,400
  • Mar 14, 2008 9:13pm Mar 14, 2008 9:13pm
So 1week till @$800, sub $200 currently what is my plan ( thinking out loud here )

I'm going to give my trading a barely profitable status, but profitable JUST but only recently turned this corner so might turn back.

So how best to use this extra cash ( can and will add more if I do blow it as long as my trading improves whilst doing so can live with kinda )

Rules :-

Stick to $1 per pip until account $1000+ then $2 till $2000
I watch 3 pairs, but limit myself to 2 open trades at any time ( till $1000+ then we'll see )
I think I'm going to allow hedging any open trade!!
Stops keep at 13pips with a option to move out to 20 under special circumstances but NO More!!

I NEED to :-

a) trade MORE with less fear!!! If I see a trade take it, most I see but wuss on do well!!
b) Take a few more chances in the holding for bigger profits department, closed out too many recently for 50% of the move.
c) Invoke a 15min cool off period after taking a loss on that pair, I jump back in too often at a worse price than the stop and get slapped again.
d) get my head around hedging ( FXCM's ) to make small scalps with no risk off loss against the trend ( risk of not making ofcourse )
e) start making enough £££'s soon ish to replace 1 client ( £600 per month )

Dyl
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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