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Cable Update (GBPUSD)

  • #60,661
  • Edited 2:36am Apr 7, 2008 1:24am | Edited 2:36am
Quoting Zuke
Im looking for a move down eventually, but have just gone LONG 9874, Stop 9844, TP 1 9924..want to see it bounce of 9869 support and run up to give a nice entry for a short.
Looks like right, it will bounce up. I close my short from 1.9811 to 1.9872 --> 39 pips.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,662
  • Apr 7, 2008 1:35am Apr 7, 2008 1:35am
Quoting Zuke
Im looking for a move down eventually, but have just gone LONG 9874, Stop 9844, TP 1 9924..want to see it bounce of 9869 support and run up to give a nice entry for a short.

Closed out at 9877 for +3, dont like the price action..this baby is going down methinks!
  • #60,663
  • Apr 7, 2008 1:41am Apr 7, 2008 1:41am
The road south is clear right now.
Roadworks around 1.9840 (see 1 & 4 hr charts).
If that's cleared, next stop on this ride could well be 1.9735.
  • #60,664
  • Edited 2:22am Apr 7, 2008 1:50am | Edited 2:22am
Gbp/Usd

Original Post # 6058
http://forexfactory.com/showthread.p...0378&page=4039
-------------------------------------

Here is a Short-Term ......
-------------------------------------
CHART UPDATE :

/////////////////////////////////////////////

http://i27.tinypic.com/xwns8.gif
  • #60,665
  • Apr 7, 2008 2:03am Apr 7, 2008 2:03am
Quoting asyed4
Navin I have a question for you please help me. I have 4 trades stuck from Friday morning as 1.9950, 1.9972, 2.0020 and 2.0227 for long positions and i don't want to close with loss as I had so many losses in the recent past. Once I close those positions without loss then I will take a break and learn the trend because trend is our friend.

So please tell me do I need to hold my positions for a while right I placed a bet size up to 2.0040 ro 2.0050 for all my 4 accounts. Please let me know your opinion. It is greatly appreciated.....
i dont think we going up we are expected to drop, u have to learn to get rid of a bad trade especially if it will be costly..i cant tell u to cancel because im not comfortable saying this to u ...but worry u may blow yur account..
forex is a funny thing it could go up but im thinking down bro...

good luck!
  • #60,666
  • Apr 7, 2008 2:07am Apr 7, 2008 2:07am
Quoting asyed4
Navin I have a question for you please help me. I have 4 trades stuck from Friday morning as 1.9950, 1.9972, 2.0020 and 2.0227 for long positions and i don't want to close with loss as I had so many losses in the recent past. Once I close those positions without loss then I will take a break and learn the trend because trend is our friend.

So please tell me do I need to hold my positions for a while right I placed a bet size up to 2.0040 ro 2.0050 for all my 4 accounts. Please let me know your opinion. It is greatly appreciated.....
so typical of a new trader....refuse to accept that u made a mistake...and just wish and pray that things go ur way...hmmm...harsh lessons...
  • #60,667
  • Apr 7, 2008 2:09am Apr 7, 2008 2:09am
Quoting ns_karthik
so typical of a new trader....refuse to accept that u made a mistake...and just wish and pray that things go ur way...hmmm...harsh lessons...
It's a man thing isn't it LOL
  • #60,668
  • Apr 7, 2008 2:12am Apr 7, 2008 2:12am
Quoting priceaction
Good stuff JR!

Thanks mate.
Rob
Glad someone is getting some benefit.

It's step 5 that gives me the most problem. If only one were content to take the first target profit (anywhere between ~5 and ~40 pips depending), you are virtually guaranteed it every time.

But - a la Gordon Gekko, "Greed is good" - we all look for more. I guess this is where Forex/trading separates the men from the boys (apologies to any female traders).
Darkness lies one inch ahead..
  • #60,669
  • Apr 7, 2008 2:19am Apr 7, 2008 2:19am
Quoting Ultraman
will see AmeriTrini
im still looking forward for LONG
I strongly support you. the trend is still long with a support at 1.972X
  • #60,670
  • Edited 2:29am Apr 7, 2008 2:27am | Edited 2:29am
Quoting TraderJR
Glad someone is getting some benefit.

It's step 5 that gives me the most problem. If only one were content to take the first target profit (anywhere between ~5 and ~40 pips depending), you are virtually guaranteed it every time.

But - a la Gordon Gekko, "Greed is good" - we all look for more. I guess this is where Forex/trading separates the men from the boys (apologies to any female traders).
JR, what do you do at each target?
1) Take profit & open a new trade once through to the next zone?
2) Scale out?
3) Stay in?

Right now we're at T2 and stuck in ...
Quote
Roadworks around 1.9840

Rob
  • #60,671
  • Apr 7, 2008 2:30am Apr 7, 2008 2:30am
Quoting Zuke
Closed out at 9877 for +3, dont like the price action..this baby is going down methinks!

Good lesson for any newbies in this thread...never be afraid to admit you got it wrong and close out your trade for a small loss. If I hadnt have done that, I would be nursing a 30 pip loss by now!
  • #60,672
  • Apr 7, 2008 2:31am Apr 7, 2008 2:31am
hi guys

think cable will go down more today? some traders are saying its a definite short

tks foir comments
  • #60,673
  • Apr 7, 2008 2:34am Apr 7, 2008 2:34am
Quoting nAVIN2007
i dont think we going up we are expected to drop, u have to learn to get rid of a bad trade especially if it will be costly..i cant tell u to cancel because im not comfortable saying this to u ...but worry u may blow yur account..
forex is a funny thing it could go up but im thinking down bro...

good luck!
///////////////////////////////////////////////////////////////////////
Gbp/Usd

Here is the skippy
Fine -tuning this trade set up..............
-------------------------------------------------------------
Managing the Risk ,by Using Trailing Stops
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-05-2008-#3.gif Size: 19 KB
  • #60,674
  • Apr 7, 2008 2:48am Apr 7, 2008 2:48am
GbpUsd


Gain is already around 60 Pips .............
-----------------------------------------------------

So its time to make a choice ,

Either get out now -
or place trailing stop and look forward to
lower prices going toward the original targets

---------------------------------------------------------
I choose to use the trailing stop ........

//////////////////////////////////////////////////////////////////

Here is the Chart Update :
--------------------------------------------------------
( Double Click on chart to enlarge )
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-05-2008-#4.gif Size: 17 KB
  • #60,675
  • Apr 7, 2008 3:04am Apr 7, 2008 3:04am
@Master Abuawad

A question. If 4H candle close more than 1.9869, she will go up to 1.9913. Otherwise will go down to 1.9797 or more. Doesn't it right ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,676
  • Apr 7, 2008 3:12am Apr 7, 2008 3:12am
Good Day

if cable goes again below 1.9842 and then broke 1.9821 ... we will see 1.9752 to 1.9733
  • #60,677
  • Apr 7, 2008 3:20am Apr 7, 2008 3:20am
Quoting deboooo2005
Good Day

if cable goes again below 1.9842 and then broke 1.9821 ... we will see 1.9752 to 1.9733
Thank you Deboo ... !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,678
  • Apr 7, 2008 3:21am Apr 7, 2008 3:21am
Quoting Zuke
Good lesson for any newbies in this thread...never be afraid to admit you got it wrong and close out your trade for a small loss. If I hadnt have done that, I would be nursing a 30 pip loss by now!
actually i think there is more to it than this: always analysis risk to reward and stick to yur plan unless u know yur wrong completely, otherwise u will find many winning trades and one lose which will wipe out all the wins..
Its very important to get the target right as well as knowing where to enter,
if u are that uncertain about the trade u shouldnt have entered it in the first place

man am i good at preaching!! it just a pity i dont listen to myself, but am trying
  • #60,679
  • Apr 7, 2008 3:29am Apr 7, 2008 3:29am
Gbp/Usd

Trying to protect those Pipies ...............
-----------------------------------------------------

Candlesticks Formation are now showing a double Bullish Harami

( which means consolidation on the smaller time frames )

Now , moving the protective stops to 9863 .............

//////////////////////////////////////////////////////////////////
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-05-2008-#6.gif Size: 18 KB
  • #60,680
  • Apr 7, 2008 3:50am Apr 7, 2008 3:50am
seems it will go up again however guys?

whats the analysis of the day! hehe
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