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Cable Update (GBPUSD)

  • #62,861
  • Apr 25, 2008 5:34am Apr 25, 2008 5:34am
but where is that gas station ?
  • #62,862
  • Apr 25, 2008 5:36am Apr 25, 2008 5:36am
I get excited when I know I got the edge on the market and I know for a fact I am going to extract my fill for the day...LOL

Quoting fx local
if u get excited with your trades and trading in general you belong in a casino.....
  • #62,863
  • Apr 25, 2008 5:37am Apr 25, 2008 5:37am
Its called a No-Brainer
  • #62,864
  • Apr 25, 2008 5:37am Apr 25, 2008 5:37am
I am targetting 1.9936, one trade bumped out of the race with too close trailing stop for 44pips, second one doing great currently at 151 pips,
and stop loss 129pips away from entry

so I can as well shutdown trading station for good, but my silver trade is bearing me down with -70pips
  • #62,865
  • Apr 25, 2008 5:38am Apr 25, 2008 5:38am
By the way Nav, thanks for your comments last night, kept me in check on a trade which could have cost me... Thanks again.

Jim
  • #62,866
  • Apr 25, 2008 5:42am Apr 25, 2008 5:42am
Pull your fibs and use the 23.6% fib level, it may go lower but this is a safe bet. It is also usually the area of the 11 SMA on the 5 min chart as shown as Magenta line on this chart.

Jim

Quoting magictrader
but where is that gas station ?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 44 KB
  • #62,867
  • Apr 25, 2008 5:44am Apr 25, 2008 5:44am
I got my stop at 9890 and TP at 9820 and that is not bad R & R and I aint worried if I stop out.
  • #62,868
  • Apr 25, 2008 5:46am Apr 25, 2008 5:46am
We need a retracement on EUR/GBP.
  • #62,869
  • Apr 25, 2008 5:48am Apr 25, 2008 5:48am
Quoting hard1head1
Pull your fibs and use the 23.6% fib level, it may go lower but this is a safe bet. It is also usually the area of the 11 SMA on the 5 min chart as shown as Magenta line on this chart.

Jim
Jim, I think the bus shot past the fuel station and he's reversing back to fill up.

I'm not sure if the fuel station is open but I've taken 50% off now. Just in case!

Still a very good trip for a Friday - regardless of what happens now.

Rob
  • #62,870
  • Apr 25, 2008 5:51am Apr 25, 2008 5:51am
11 SMA is moving up fast so my TP has been moved to 9840 and my stop has been pulled to B/E, a nice retracement trade, but you have to babysit it and you can take profit at anytime.
  • #62,871
  • Apr 25, 2008 5:53am Apr 25, 2008 5:53am
Nothing feels better than locked in pips.......Well, almost nothing. LOL

Quoting priceaction
Jim, I think the bus shot past the fuel station and he's reversing back to fill up.

I'm not sure if the fuel station is open but I've taken 50% off now. Just in case!

Still a very good trip for a Friday - regardless of what happens now.

Rob
  • #62,872
  • Apr 25, 2008 5:54am Apr 25, 2008 5:54am
Check H1 candle.
It looks like evening star formation.
  • #62,873
  • Apr 25, 2008 5:55am Apr 25, 2008 5:55am
Notice the tweezer tops on the 5 min chart, this was my entry.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 44 KB
  • #62,874
  • Apr 25, 2008 5:59am Apr 25, 2008 5:59am
I'm looking for retesting 1,9800 area.
  • #62,875
  • Apr 25, 2008 6:05am Apr 25, 2008 6:05am
Got to take my little girl to school, be back in 1 hr. This price may bounce long off the 5 min 11 MA smoothed and go back up to form a double top, guys, so watch it.

Jim
  • #62,876
  • Apr 25, 2008 6:06am Apr 25, 2008 6:06am
Quoting hard1head1
I get excited when I know I got the edge on the market and I know for a fact I am going to extract my fill for the day...LOL
ur funny...
Trading is 80% Emotional, 20% Technical
  • #62,877
  • Apr 25, 2008 6:11am Apr 25, 2008 6:11am
Cable up 208 lo-Hi so far today, (130 hi-lo yesterday) other average ranges below.

Interesting price action phenomenon on way up shown on 15min chart attached.
Attached Images
ex member
  • #62,878
  • Apr 25, 2008 6:16am Apr 25, 2008 6:16am
useful 5min set-up at that resistance at current intraday highs (Dly S2, offers to 9900, prev 1hr swing hi/lo)...coupled with overbought readings on 15min/30min oscillators.

Always a good sign for a pullback/anti-trend pullback when your lead oscillator dips below the axis at highest point of price...doji candle in there as well
Attached Image
ex member
  • #62,879
  • Apr 25, 2008 6:20am Apr 25, 2008 6:20am
Quoting DJ4x
Hi Everybody,

My market order was hit, :so now holding two long positions. 1.9828 and 1.9755....
Closed both positions for pos 120 pips in total... so that leaves me with 255 pips positive for the week. and no open positions at present
Have to get back to my "real" job now. Chat later.
  • #62,880
  • Apr 25, 2008 6:23am Apr 25, 2008 6:23am
as screenshot
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 20 KB
ex member
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