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Cable Update (GBPUSD)

  • #60,981
  • Apr 8, 2008 8:39pm Apr 8, 2008 8:39pm
Like Jets says, this is beyond weak here GU is dead in the water.

Preserving capital might be a idea, but I don't want to say exit or exit myself incase my bounce does occur, it'll be fast and strong.

It does look from the volume like someone is loading up on the dips, dips start with low volume, then volume increases but the price holds.

Could be grasping on straws be warned
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,982
  • Apr 8, 2008 8:44pm Apr 8, 2008 8:44pm
Quoting Turveyd
have you not found FXCM's trailing stop feature ??

Got the Stop up click the trailing stop, set to 10 or above and everytime the market moves up 10pips it'll raise your stop 10, but not drop it!!!

And if the market drops back 30pips it'll have to go up 40pips before it raises it again, tis smart useful if you want to go to sleep and leave it to the trail to sort out.

ie runs up it'll follow then preserve profits
Thanks buddy I also have another lot for short do I have to do this feature with short lot also I put a stop loss of 1.97200 and took at 9661 do I have to do this feature with short lot too. I think I need to do that.
  • #60,983
  • Apr 8, 2008 8:50pm Apr 8, 2008 8:50pm
Your call mate totally, upside is your stop follows, downside is if the market runs up 100pips then pulls back 30pips it'll hit your stop.

Downside to everything, nice little run there, then nothing

UJ's tanking as it should do to, everything is working to plan on EU and UJ but not on GU yet!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,984
  • Apr 8, 2008 9:20pm Apr 8, 2008 9:20pm
failed to even break the weak 6hour sma

3:20am and losing money, not good!!!! not the aim of trading for sure


time to bail I think
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,985
  • Apr 8, 2008 9:44pm Apr 8, 2008 9:44pm
Loads of selling pressure should come in soon since 21 ema is coming closer....


I am still short...

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  • #60,986
  • Apr 8, 2008 9:51pm Apr 8, 2008 9:51pm
Quoting Turveyd
failed to even break the weak 6hour sma

3:20am and losing money, not good!!!! not the aim of trading for sure


time to bail I think
i think between 12:00 - 2:00 am (London time: 6:00 am - 8:00 am) it will go up and between 3:30 am -6:00 am (London time: 9:30 am -11:00 am) it will be up again because of the news (Industrial production/manufacturing production) then from US session I think it will go down.

One question guys what do you think to place a new trade with short when is a good time around 7:00 am Central time would be a good entry for short by then it would already go up around 1.9700ishhhhh
I think the market is crazy right now. I am very stupid I don't know how did I enter with long and then after I placed a short in FXCM which I don't care because eventually it will go down by tomorrow morning or so for BOE meeting........
  • #60,987
  • Apr 8, 2008 10:10pm Apr 8, 2008 10:10pm
You clicked the buy side rather than the sell side and missed the buy/sell bit on the order, been there done that

Still holding and still down and still awake sadly EUY getting some buying interest here, GU to, but WEAK, break over 1.9672 and might be worth me staying up after all LOL

Sleep when I'm dead comes to mind!!! ( 2mins after the GF finds out I'm down £80 this week LOL )


p.s. got loads of work to do not up entirely for my trade!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,988
  • Apr 8, 2008 10:18pm Apr 8, 2008 10:18pm
Failed to break 6hour again, I hate it when I'm on the wrong side of my system and it works perfectly

Never works this well when I'm on the right side i assure you.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,989
  • Apr 8, 2008 10:25pm Apr 8, 2008 10:25pm
I pennant in building on the 15 minute charts ...its making lower lows..and getting pressure from ema 21...
  • #60,990
  • Apr 8, 2008 10:31pm Apr 8, 2008 10:31pm
I know, i shoulda bailed @6pips higher, thats been my issue on the week my inability to take profit or cut my losses in a instant this week is costing me dear.

Live, Learn then forget everything

I'm out -£20 40pips wasted, -170pips on the week

Bet I wake to find it's back around @9770's
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,991
  • Apr 8, 2008 10:37pm Apr 8, 2008 10:37pm
drattts your 21ema works better than my 24sma considerably better fit in back test, thanks 24sma's never been perfect, slightly out!!



Worth £20 on it's own!!!


Good luck, the door is open for it to dump!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,992
  • Apr 8, 2008 10:58pm Apr 8, 2008 10:58pm
back to 70 typical could halved my loss here

And broke over 21ema line

Rest of the week off trading I think is required here!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,993
  • Apr 8, 2008 11:07pm Apr 8, 2008 11:07pm
Quoting Turveyd
back to 70 typical could halved my loss here

And broke over 21ema line

Rest of the week off trading I think is required here!!
21 ema, 55 ema, 89 ema
are really good they show alot to me...
  • #60,994
  • Apr 8, 2008 11:11pm Apr 8, 2008 11:11pm
Quoting Turveyd
Need to research Abu's method when I get a spare day, any chance TraderJR you could change the colours off the lines, being red green colour blind makes it impossible to see whats what at a glance!!

Sure others out there struggle to.

thanks
Best you do it yourself Turveyd as I don't know what colours you can distinguish.

In MT4 double-click the line so it gets a "dot" at each end to indicate it is selected. Right click, select Horizontal Line Properties, go to Common, Style and select the colour you want. Double-click the line when finished to unselect it.

cheers
Darkness lies one inch ahead..
  • #60,995
  • Apr 8, 2008 11:16pm Apr 8, 2008 11:16pm
Its going short!!!!!!!!!i hope lol
  • #60,996
  • Apr 8, 2008 11:27pm Apr 8, 2008 11:27pm
I am still long from 1.9727 I did this same thing last trade and made 250 pips I know trying to find a bottom is a nono but is a fun no no and I haven't lost YET.
  • #60,997
  • Apr 8, 2008 11:29pm Apr 8, 2008 11:29pm
Quoting jets211990
Its going short!!!!!!!!!i hope lol
My stop loss did hit at 1.9650 and I lost 41 pips. I have one lot with short at 1.9661 with stop loss at 1.9750 and TP at 1.9600.

I am gonna go to bed. have a good night guys.............
  • #60,998
  • Apr 8, 2008 11:35pm Apr 8, 2008 11:35pm
It's been a nice and predictable rally in EUR/GBP. Again, the most reliable strategy for the pound - go long on dips to 0.7950 with target just below 0.8.
The beauty of EUR/GBP at the moment - very strong trend, not dependent on USD, and supported by the fundamentals - the upcoming rates announcement for GBP and EUR in favor of the latter.
"Luxury is one of the basic needs", (c), Don Corleone
  • #60,999
  • Apr 8, 2008 11:35pm Apr 8, 2008 11:35pm
Quoting asyed4
My stop loss did hit at 1.9650 and I lost 41 pips. I have one lot with short at 1.9661 with stop loss at 1.9750 and TP at 1.9600.

I am gonna go to bed. have a good night guys.............

Limit is very close to major support...
  • #61,000
  • Apr 8, 2008 11:42pm Apr 8, 2008 11:42pm
Quoting Abuawad
1)
5) What stop loss do you use?
the opesit near value
like the limit is 1 and 2
and the first up target 2.2
and the first down target is 0.9
price confirm the uplimit broken the order will be long from 2.0 to 2.2 with stop loss at 0.9 after hiting the target and it try to move to the next target lets say its 2.5
the stop los will be 2.0
and so on
In post http://www.forexfactory.com/showpost...ostcount=57547 you added 15 pips to the "opposite near value", has this changed?
Darkness lies one inch ahead..
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