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Cable Update (GBPUSD)

  • #61,541
  • Apr 14, 2008 1:15pm Apr 14, 2008 1:15pm
Quoting nAVIN2007
chance ..

this is my big problem i keep exiting good trades ..
LOL you me both I quit at 20-30 pips then they run to 80-120pips other times I am +20 I think I am going to leave it I end up -20! Soon Ill get it right
  • #61,542
  • Apr 14, 2008 1:20pm Apr 14, 2008 1:20pm
Quoting nAVIN2007
definately right u are but i got a bit nervous about the entery and im sure it will go up again and when it does i gonna sell and hold it all the way ..i made a mistake i shouldnt have canceled the trade...emotion still go a hold on me ..but im sure we will have a another chance ..

this is my big problem i keep exiting good trades ..
Nav, perhaps it will help if you lower your trade size (to reduce the tension in you) and reduce the chart watching (to minimise your actions).

Then go with the plan man.
Rob
  • #61,543
  • Apr 14, 2008 1:22pm Apr 14, 2008 1:22pm
Quoting tomaz55
stopped out for -50

sold BIG TIME 9874, tp 9800

now i have a big short position..
tp reached for +74 at huge leverage, i won what must be the equivalent to tasmania's gdp... i really pounded the pound real good

will go long if it reached 9750 for an easy 40/50 pips
  • #61,544
  • Apr 14, 2008 1:27pm Apr 14, 2008 1:27pm
Quoting Runway Trade
LOL you me both I quit at 20-30 pips then they run to 80-120pips other times I am +20 I think I am going to leave it I end up -20! Soon Ill get it right
Here's a little tip for ya. If you look at H1 now it's a pretty smooth ride down, only bullish candles. At M5 it's not soo, somewhat nice waves. As you see on M5 it's making lower highs and lower lows all the way. And as long as it doesn't make a higher high I stay in the trade . Worked out so far, short entry at 1.9836 (pretty late compared to you others here), that was the 1.9836 BEFORE a 30 pip move up, but I didn't find it make a higher high so I stayed in and am currently in 71 pips profit.
  • #61,545
  • Apr 14, 2008 1:29pm Apr 14, 2008 1:29pm
Quoting LuckyLurker
http://www.forexfactory.com/attachme...1&d=1208193855


4give my ignorance but wat do u mean
USD est non mortuus
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,546
  • Apr 14, 2008 1:49pm Apr 14, 2008 1:49pm
long 9755 tp 9800
  • #61,547
  • Apr 14, 2008 1:56pm Apr 14, 2008 1:56pm
Quoting SimonJ
Here's a little tip for ya. If you look at H1 now it's a pretty smooth ride down, only bullish candles. At M5 it's not soo, somewhat nice waves. As you see on M5 it's making lower highs and lower lows all the way. And as long as it doesn't make a higher high I stay in the trade . Worked out so far, short entry at 1.9836 (pretty late compared to you others here), that was the 1.9836 BEFORE a 30 pip move up, but I didn't find it make a higher high so I stayed in and am currently in 71 pips profit.
Thanks that is a good tip. Ill keep my eye on the 5m.
  • #61,548
  • Apr 14, 2008 2:05pm Apr 14, 2008 2:05pm
Quoting tomaz55
long 9755 tp 9800

9780-9800 seems quite strong resistance. Good luck.
  • #61,549
  • Apr 14, 2008 2:05pm Apr 14, 2008 2:05pm
Quoting Runway Trade
Thanks that is a good tip. Ill keep my eye on the 5m.
Remember it can be any timeframe really, choose the one where you easily see the wave movements.
  • #61,550
  • Apr 14, 2008 2:16pm Apr 14, 2008 2:16pm
GBP/USD intraday: support area at 1.9730 Pivot: 1.973

Our preference: Long positions above 1.973 with targets @ 1.9845 & 1.9896 in extension.

Alternative scenario: Below 1.973 look for further downside with 1.969 & 1.9655 as targets.

Comment: the 30-min RSI is close to a support area.
Attached Image
Don't chase the market, Let the market come to you
  • #61,551
  • Apr 14, 2008 2:18pm Apr 14, 2008 2:18pm
Quoting shajib
9780-9800 seems quite strong resistance. Good luck.
thx shajib

i will look to sell around 9800 for the 9600 level

are you flat?
  • #61,552
  • Apr 14, 2008 2:20pm Apr 14, 2008 2:20pm
Quoting priceaction
Nav, perhaps it will help if you lower your trade size (to reduce the tension in you) and reduce the chart watching (to minimise your actions).

Then go with the plan man.
Rob

sounds like a plan bro ...thats my next step.....
  • #61,553
  • Edited 3:04pm Apr 14, 2008 2:53pm | Edited 3:04pm
Consider this weekly chart and basic price action ...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd weekly 14 April 2.jpg Size: 268 KB
  • #61,554
  • Apr 14, 2008 2:54pm Apr 14, 2008 2:54pm
Quoting tomaz55
thx shajib

i will look to sell around 9800 for the 9600 level

are you flat?
I have a short position which was opened at 9845. Looking to add one more at 9785. SL 9825-ish. 1st TP in the region of 9650 hopefully after bad housing news. obviously we need to see a clean break of 9725 first.

I still think g/u will have another run towards 9900 from 9600/50 region once strong inflation data is released on Tuesday. Besides if either TIC or Business Cond. Index comes out lower, Dow will continue to drop giving more reason for g/u to rally. Technically, the line in the sand for me is 9600. As long as we are trading above it, I will hold my g/u long positions as there seems to be a strong base forming at that level.
  • #61,555
  • Apr 14, 2008 2:57pm Apr 14, 2008 2:57pm
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting nAVIN2007
sounds like a plan bro ...thats my next step.....
Navin I know what you are going trough.
Try with fibonacci daily pivot points.
No need to calculate.
Take them from Action forex and place them on your chart.
It will give you visual direction and how far it could go.
When it come to resistance or support you will se the action and make a decision.
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  • #61,556
  • Apr 14, 2008 3:00pm Apr 14, 2008 3:00pm
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting Kokan
Navin I know what you are going trough.
Try with fibonacci daily pivot points.
No need to calculate.
Take them from Action forex and place them on your chart.
It will give you visual direction and how far it could go.
When it come to resistance or support you will se the action and make a decision.
Now it has bounced from the resistance 1
  • #61,557
  • Apr 14, 2008 3:05pm Apr 14, 2008 3:05pm
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting Kokan
Now it has bounced from the resistance 1
Take a look how EUR-USD was going trough pivots.
You can follow price action all day assuming it will come to the target you see. If not you can close a trade.
Attached Image (click to enlarge)
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  • #61,558
  • Apr 14, 2008 3:28pm Apr 14, 2008 3:28pm
Quoting tomaz55
long 9755 tp 9800
yes, i'm in the absolutely same trade with stop at BE and part of the profit taken.
  • #61,559
  • Apr 14, 2008 3:28pm Apr 14, 2008 3:28pm
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting Kokan
Take a look how EUR-USD was going trough pivots.
You can follow price action all day assuming it will come to the target you see. If not you can close a trade.
To elaborate a picture.
We have had a gap at the beginning of the session.
The price was playing on support 3 and than it bounced up to the r2.
If you were placed an order at beginning if Tokyo session you could follow the price trough pivot pints and adding on each passing trough pivot and gain more than 200 pips. At the end on the resistance 2 you could place sell order and gain 50 pips.
  • #61,560
  • Apr 14, 2008 3:33pm Apr 14, 2008 3:33pm
Quoting Kokan
Now it has bounced from the resistance 1
actually i always use pivots but today i actually forget completely about them ...
Attached Image (click to enlarge)
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