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Cable Update (GBPUSD)

  • #60,681
  • Apr 7, 2008 3:50am Apr 7, 2008 3:50am
Theres a lot of news coming up later in the week so I expect price to remain in my outlined range
I would have liked a strong Sunday close as this would have givern the chance to experiance for myself how valid that Friday bar was.
We sit at the top of a down channel on the 1 hr
Attached Image (click to enlarge)
Click to Enlarge Name: daily fibo.gif Size: 50 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #60,682
  • Edited 4:12am Apr 7, 2008 3:59am | Edited 4:12am
Gbp/Usd

Ok ,this trade is over now
- Price action has now declined into a Wave C Low
----------------------------------------------------------------
Here are the results from this set-up from yesterday afternoon .....http://www.learncurrencytrading.com/...es/biggrin.gif
( Trailing stop , was breeched )
-----------------------------------------------------------
Original Post # 6058
http://forexfactory.com/showthread.p...0378&page=4039
/////////////////////////////////////////////////////////////////////

Short @ 9900 , Short again @ 9852
Both were stopped out at the New Stop line @9863
----------------------------------------------------
9900 - 9863 = Gain of 37 Pips
9852 - 9863 = Loss of 11 pips

Total Gain of 26 pips ............http://www.learncurrencytrading.com/...lies/smile.gif
----------------------------------------------------------

NO HINDSITE , NO OSCILLATORS , NO NEWS , & NO MEETINGS

-----------------------------------------------------------------
It's all in the chart's ...............
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBP-04-05-2008-#5.gif Size: 29 KB
Click to Enlarge Name: GBP-04-05-2008-#3.gif Size: 19 KB
Click to Enlarge Name: GBP-04-05-2008-#6.gif Size: 18 KB
Click to Enlarge Name: GBP-04-05-2008-#7.gif Size: 19 KB
  • #60,683
  • Apr 7, 2008 4:08am Apr 7, 2008 4:08am
Could be tight range for the day
Attached Image (click to enlarge)
Click to Enlarge Name: hour.gif Size: 50 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #60,684
  • Apr 7, 2008 4:19am Apr 7, 2008 4:19am
1hr chart

bounced of the 61.8 fib ....piercing pattern formed..looks like we going to test s3 support turn resistance and down maybe if confirmation arise..anyway i have to go work..no trade as i dunno the direction

good luck guys..
  • #60,685
  • Apr 7, 2008 4:32am Apr 7, 2008 4:32am
Gbp/Usd

Coming Soon to a Theatre near you .............
- - -- - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - -
http://i28.tinypic.com/2d0l9q1.gif
  • #60,686
  • Apr 7, 2008 5:00am Apr 7, 2008 5:00am
Quoting tomaz55
i agree. i am short from 9950 with an initial target of 9820.
got out at 9845 for +105 pips
  • #60,687
  • Apr 7, 2008 5:02am Apr 7, 2008 5:02am
Quoting tomaz55
got out at 9845 for +105 pips
Congratz !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #60,688
  • Apr 7, 2008 5:06am Apr 7, 2008 5:06am
4hr is printing a pinbar, and which has to be worked out in the overall direction, which from daily seems to be down. My EW count on daily indicates that cable is in the 3rd of 3EW which is likely to have 5EW. If so there is plenty space for the move down, and looking at Fib Time projection on daily there is a lot of time to achieve it. I shall wait for another set up to short, after covering the short position this morning with healthy pps balance.
Make sure losses are small and profits are bigger!
  • #60,689
  • Edited 5:47am Apr 7, 2008 5:21am | Edited 5:47am
Quoting priceaction
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 ...

Rob
So far mainly using option 1) - 146 pips last week (DEMO) and could have had more if held nerve and not got stopped out at BE. Still trialling his method and getting to know how it behaves.

If you want to know how to get in a move just after it starts and out just before it ends (as Abuawad's results imply), the simple answer is, "I don't know". All of your 1) thru 3) are valid strategies, but they are what you resort to when you simply don't know with any sort of high probability where you should set TP. I don't think there is a simple catchall answer - it depends on the particular trade.
Darkness lies one inch ahead..
  • #60,690
  • Apr 7, 2008 5:25am Apr 7, 2008 5:25am
hi

above 1.9906 is good sign to go up
  • #60,691
  • Edited 5:40am Apr 7, 2008 5:32am | Edited 5:40am
Quoting TraderJR
So far mainly using option 1) - 146 pips last week (DEMO) and could have had more if held nerve and not got stopped out at BE.

If you want to know how to get in a move just after it starts and out just before it ends (as Abuawad's results imply), the simple answer is, "I don't know". All of your 1) thru 3) are valid strategies, but they are what you resort to when you simply don't know with any sort of high probability where you should set TP. I don't think there is a simple catchall answer - it depends on the particular trade.
Hi JR,
I was simply curious (because you have been using Abuawad's method) how you exited. I take each trade as it comes. This Cable short hesitated too much at T2 so I took profit (lucky for me!).

Congrats with last week's results!
Rob
  • #60,692
  • Apr 7, 2008 6:16am Apr 7, 2008 6:16am
I wander whether cable Low has not been achieved for today, as I think the evarage daily range has been more or less fulfield, and Mondays are sometimes a reasonably quiet days, after fulfiling the daily avarage range. We shall see. ATM I only look to establish a short position.
Happy trading to all!
2be
Make sure losses are small and profits are bigger!
  • #60,693
  • Apr 7, 2008 6:57am Apr 7, 2008 6:57am
Mixed signals here and after last nights slaughter I'm out for blood so everyone do the opposite of me here!!

Bearish territory so shorts are prefered, not to nearer 1.9900 though.


Glad I exited last night, no way I could stood that sell off @8:30am
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,694
  • Apr 7, 2008 7:24am Apr 7, 2008 7:24am
Average ranges:

Today 107 Hi-Lo (so far) Friday's 141
Attached Image (click to enlarge)
Click to Enlarge Name: g.gif Size: 12 KB
ex member
  • #60,695
  • Apr 7, 2008 7:35am Apr 7, 2008 7:35am
Ok..my 9910 SHORt has been filled, SL 9945, TP1 9840
  • #60,696
  • Apr 7, 2008 7:35am Apr 7, 2008 7:35am
GBP/USD: Up On U.K Corporate Demand But Offers Close By London, April 7. Early Sterling losses were attributed to East European and UK Corporate selling and we are now hearing that much of the short covering from the 1.9835-40 low was again corporate based. U.S investment names have also helped sterling eek out a rebound to 1.9890-93. Offers were touted ahead of the figure but these have been absorbed and stops are now being worked above. The heavier stop action is away from market above the 2.00 level and below 1.9750. Good bids remain placed between 1.9840 and 1.9850 with more at 1.9820.
Trading is 80% Emotional, 20% Technical
  • #60,697
  • Apr 7, 2008 8:15am Apr 7, 2008 8:15am
Hi,

thank you for your everyday information it's very helpful to me
  • #60,698
  • Apr 7, 2008 8:43am Apr 7, 2008 8:43am
Quoting bbmac
Average ranges:

Today 107 Hi-Lo (so far) Friday's 141


Hello BBMAC

i would like to know how you make this table ?

is this an MT expert ? or special software?

i would like to have this

best regards

Nasko-the FXPredator
  • #60,699
  • Apr 7, 2008 8:56am Apr 7, 2008 8:56am
short filled at 9900 30 pip stop
  • #60,700
  • Apr 7, 2008 9:30am Apr 7, 2008 9:30am
The template from page 4037 have yellow lines that are located on 1.9953 uppers limits and 1.9913 lower limits; using current time. This template was given by Traderjr.

The template Traderjr. gave previously labeled "Abuawad current" have different yellow line with upper yellow limits of 1.9807 and lower yellow limits of 1.9867 in regards to current time.

Im not sure which one is correct (im assuming the latest one on page 4037 is correct), but the recent format gives us entries about 12 hours Miami Florida time; AND THE PREVIOUS FORMAT STILL KEEPS US IN THE YELLOW NO MANS LAND.

TRADERJR, ABUAWAD, CAN YOU HELP ME WITH THIS, WHICH FORMAT SHOULD BE USED, AND OR IS IT SOMETHING I DOING INCORRECTLY ON MY MT4 FORMAT.

I CURRENTLY AM GOING TO USE THE TEMPLATE FROM PAGE 4037.
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