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Cable Update (GBPUSD)

  • #64,801
  • May 8, 2008 9:44am May 8, 2008 9:44am
Quoting LuckyLurker
AKA LuckyLurker!
  • #64,802
  • May 8, 2008 9:46am May 8, 2008 9:46am
Quoting fx local
market been like whores draws today!!
up and down like a fart in an elevator
  • #64,803
  • May 8, 2008 9:50am May 8, 2008 9:50am
Quoting allserene
up and down like a fart in an elevator
  • #64,804
  • Edited 10:05am May 8, 2008 9:51am | Edited 10:05am
this is enough to make u dizzy....cable seems to be going in all directions, so every1 is right ...yet we still losing ...

ok heres how im seeing it....on 4 hr chart we hit the bottom and are developing a rounded bottom, which technically is a reversal sign

we in a downtrend...so movement is expected up, i do agree with jim but only if the 4 hr candle we have ends to be a pin, it will confirm rejection up ..then i shall find myself in the fry pan, once again

but only if it ends in a pin.....there diverence to play which should take us up and these triple tops are the result of the 62 ema..it might take a while but i think it on its way up...it the rounded bottom thing is confusing the hell out of us right now ...
Attached Image (click to enlarge)
Click to Enlarge Name: picture.JPG Size: 109 KB
  • #64,805
  • May 8, 2008 10:01am May 8, 2008 10:01am

Conslidation

  • #64,806
  • May 8, 2008 10:06am May 8, 2008 10:06am
whoops i did it again ! (quoting brittney after after a good curry)

about a year ago i stopped using stoplosses because i developed a paranoid delusion that 'they' were watching me and manipulating the market to hit my stoploss RIGHT BANG ON TO THE PIP before the market bounced to what I had predicted


Since then i have done ok and made progress but not spectacularly so

Yesterday I saw my paper losses increasing and lost my nerve and put stop losses on

What happened ? the market hit my stop loss exactly - right to the pip- again

As George w says -'fool me once, shame on you, fool me twice ..well..er..you shouldnt fool me twice ok '


I reckon stoplosses should be either tiny or non existent - 'disaster' stop losses are disastrous - they get triggered in a disaster then comes the inevitable bounce where you should really get out with medium losses

medium sized disasters are swallowable every blue moon but disaster sized stop losses are nasty and made worse by looking at the bounce afterwards


ok this is war !
  • #64,807
  • May 8, 2008 10:10am May 8, 2008 10:10am
i suffer from the same thing i placed a trade yesterday it hit SL to the pips then moved up...its better to enter small and build it as yur sure u got the right direction..my SL right now is at 1.93 ...
  • #64,808
  • May 8, 2008 10:13am May 8, 2008 10:13am
Quoting nAVIN2007
this is enough to make u dizzy....cable seems to be going in all directions, so every1 is right ...yet we still losing ...

ok heres how im seeing it....on 4 hr chart we hit the bottom and are developing a rounded bottom, which technically is a reversal sign

we in a downtrend...so movement is expected up, i do agree with jim but only if the 4 hr candle we have ends to be a pin, it will confirm rejection up ..then i shall find myself in the fry pan, once again

but only if it ends in a pin.....there diverence to play which should take us up and these triple tops are the result of the 62 ema..it might take a while but i think it on its way up...it the rounded bottom thing is confusing the hell out of us right now ...
Thanks for this chart I think this clears it for me. Look at the top left of your chart - rounded top at the top of channel and where did it go. I think we are on the way up. News today just confusing things for a while. Technical Rule!!!!!
  • #64,809
  • May 8, 2008 10:16am May 8, 2008 10:16am
Quoting Runway Trade
Thanks for this chart I think this clears it for me. Look at the top left of your chart - rounded top at the top of channel and where did it go. I think we are on the way up. News today just confusing things for a while. Technical Rule!!!!!

we can always be wrong but technically...a rounded bottom is a reversal sign so if we going down even more...that would be really confusing....so what to do my friend ..
  • #64,810
  • May 8, 2008 10:20am May 8, 2008 10:20am
[email protected] test my opinion
  • #64,811
  • Edited 11:07am May 8, 2008 10:27am | Edited 11:07am
If you guys take a look at the 1 hour chart, you should see a pattern forming as a result of the last 8 candles which have formed, indicating the next one should be heading North, but what do i know...i'm the Forex Rookie!
"The trend is your friend, until the end."
  • #64,812
  • May 8, 2008 10:28am May 8, 2008 10:28am
Quoting deboooo2005
[email protected] test my opinion
I like your opinion!
  • #64,813
  • May 8, 2008 10:30am May 8, 2008 10:30am
Quoting ForexRookie
If you guys take a look at the 1 hour chart, you should see a pattern forming as a result of the last 7 candles which have formed, indicating the next one should be heading North, but what do i know...i'm the Forex Rookie!
if u can post it that be excellent buddy..this way we ccan give feedback or acknowledge something we may have missed
  • #64,814
  • May 8, 2008 10:42am May 8, 2008 10:42am
Quoting allserene
about a year ago i stopped using stoplosses because i developed a paranoid delusion that 'they' were watching me and manipulating the market to hit my stoploss RIGHT BANG ON TO THE PIP before the market bounced to what I had predicted

I reckon stoplosses should be either tiny or non existent - 'disaster' stop losses are disastrous - they get triggered in a disaster then comes the inevitable bounce where you should really get out with medium losses

medium sized disasters are swallowable every blue moon but disaster sized stop losses are nasty and made worse by looking at the bounce afterwards


ok this is war !
I like this..... I so totally agree with you. Just for the record I also do not have stop losses. I have a mental level that would be disastrous, but seldom do I close it on that level. i wait for the bounce and then consider closing on what you call medium losses.
  • #64,815
  • May 8, 2008 11:05am May 8, 2008 11:05am
Quoting nAVIN2007
if u can post it that be excellent buddy..this way we ccan give feedback or acknowledge something we may have missed
Ok this is only the first attachment i've done and its not the greatest, but maybe it will shed some light on the post not long ago:

Quote
If you guys take a look at the 1 hour chart, you should see a pattern forming as a result of the last 8 candles which have formed, indicating the next one should be heading North, but what do i know...i'm the Forex Rookie!
Attached Image
"The trend is your friend, until the end."
  • #64,816
  • May 8, 2008 11:07am May 8, 2008 11:07am
Quoting ForexRookie
Ok this is only the first attachment i've done and its not the greatest, but maybe it will shed some light on the post not long ago:
i think u need to compress the chart to jpg..nobody can view it
  • #64,817
  • May 8, 2008 11:10am May 8, 2008 11:10am
Quoting ForexRookie
Ok this is only the first attachment i've done and its not the greatest, but maybe it will shed some light on the post not long ago:
are you talking about this?

3 down, 1 up
3 down, 1 up...
Attached Image
  • #64,818
  • May 8, 2008 11:12am May 8, 2008 11:12am
we just had a massive spike 20 pips .up ...hopefully it werent a rejection
  • #64,819
  • May 8, 2008 11:13am May 8, 2008 11:13am
Quoting nAVIN2007
i think u need to compress the chart to jpg..nobody can view it
You can always change its file extension to "JPG". Not really sure how to display it on a post, if you could explain i will try to.
"The trend is your friend, until the end."
  • #64,820
  • May 8, 2008 11:14am May 8, 2008 11:14am
Filled and long@9547 .. Long term position potentially. I expect a potential drop but I'll sit tight.
USD Est Non Mortuus
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