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Cable Update (GBPUSD)

  • #71,881
  • Jun 23, 2008 3:20am Jun 23, 2008 3:20am
its impressive how many of us get into over-tarding. i too done it and gave me massive losses after a great gain period. we have to realy stick to good signals even if its a 1 off signal.

from last night/this morning move i gained just 20 pips as have done some tech analysis yesterday and thought will head down and left a sell trade before went to bed. still am sure alot of good opps to come!

happy trading to all

adrian
ebnsoftware.com



Quoting nAVIN2007
yes absolutely...i never entered cause was confused about where cable is heading..i havent traded for 1 week now and i dont want to enter the market unless i get a great signal ...
i been down the road of over trading and it only leads to losses in my case..so not keen on taking that path

yes yur right i havent missed a boat as theres many to come still
  • #71,882
  • Jun 23, 2008 3:24am Jun 23, 2008 3:24am
Cable playing the fibios nicely!
  • #71,883
  • Jun 23, 2008 3:27am Jun 23, 2008 3:27am
Sorry forgot to upload
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  • #71,884
  • Jun 23, 2008 3:33am Jun 23, 2008 3:33am
15M pin Bar after touching 50% Fibo, Turning point?
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  • #71,885
  • Jun 23, 2008 3:38am Jun 23, 2008 3:38am
There is a big difference between taking 20 safe pips and 40 risky pips. I will take the safe pips every day over the risky ones. At the end of the day u are far ahead by going for the safe pips. I try to trade only when the ods are greatly in my favor and then get out quickly. IMO
  • #71,886
  • Jun 23, 2008 3:41am Jun 23, 2008 3:41am
Quoting Runway Trade
15M pin Bar after touching 50% Fibo, Turning point?
you know

it's not practical to guess the turning points,
it's always not too safe.

it might turn, but in the other hand, it's not 100% safe, there is a 50-50 chance.
  • #71,887
  • Jun 23, 2008 3:47am Jun 23, 2008 3:47am
I think this is the point it's building new low
  • #71,888
  • Jun 23, 2008 3:48am Jun 23, 2008 3:48am
Just looking! Made 41pips on the drop this morning. My target is only 15 pips avr per day. But what must I do now for the rest of the day....just kidding. Will just monitor and only take a sure bet, if it comes today!

I would rather take bigger lots with less pips the small lots and lots of pips. How do you guys feel on this?
  • #71,889
  • Jun 23, 2008 3:49am Jun 23, 2008 3:49am
Quoting tarektm
you know

it's not practical to guess the turning points,
it's always not too safe.

it might turn, but in the other hand, it's not 100% safe, there is a 50-50 chance.

yeah i know what u mean ...i had the same idea....50% retracement entered got 7 pips and out....the candle formation here always sems bullish cause of the ressitance to cross...60, 150 ema...leads to false signals at times but its 50:50 here

if it crosses this point then might be a down day ...
  • #71,890
  • Jun 23, 2008 3:56am Jun 23, 2008 3:56am
Quoting Runway Trade
Just looking! Made 41pips on the drop this morning. My target is only 15 pips avr per day. But what must I do now for the rest of the day....just kidding. Will just monitor and only take a sure bet, if it comes today!

I would rather take bigger lots with less pips the small lots and lots of pips. How do you guys feel on this?
i plan to do that maybe in the next 4 months....right now .....cant think about it..
  • #71,891
  • Jun 23, 2008 4:02am Jun 23, 2008 4:02am
Quoting nAVIN2007
yeah i know what u mean ...i had the same idea....50% retracement entered got 7 pips and out....the candle formation here always sems bullish cause of the ressitance to cross...60, 150 ema...leads to false signals at times but its 50:50 here

if it crosses this point then might be a down day ...
I think current bias still down. Most likely just a retracement in a long down move.

Been a good morning so far. Shorted twice.
19706 out + 37 pips
19667 out + 30 pips

If break above 19678, might just develop into a full reversal. Just my thought.
  • #71,892
  • Jun 23, 2008 4:21am Jun 23, 2008 4:21am
Quoting Chang
I think current bias still down. Most likely just a retracement in a long down move.

Been a good morning so far. Shorted twice.
19706 out + 37 pips
19667 out + 30 pips

If break above 19678, might just develop into a full reversal. Just my thought.

What made you short this morning, Chang?
  • #71,893
  • Jun 23, 2008 4:23am Jun 23, 2008 4:23am
Quoting Chang
I think current bias still down. Most likely just a retracement in a long down move.

Been a good morning so far. Shorted twice.
19706 out + 37 pips
19667 out + 30 pips

If break above 19678, might just develop into a full reversal. Just my thought.
good work bro..
  • #71,894
  • Jun 23, 2008 4:28am Jun 23, 2008 4:28am
Quoting maverick
What made you short this morning, Chang?
1.9714 critical support. Broke instantly when London market open. This reflect London market sentiment echoing those of Asian market which was also short. I could only get in at 1.9706 since it happens so fast.

1.9669 another critical support. Again market broke through it very quick. So, instinct to short again.

Hmm, next critical support level at 1.9630 Slight retracement since then and almost back to 1.9669 and then bounce back down again. Market seems to stuck between these 2 important levels now. Best thing to do, wait for the price action to show the way since it can now go both ways.
  • #71,895
  • Jun 23, 2008 4:28am Jun 23, 2008 4:28am
Quoting Chang
I think current bias still down. Most likely just a retracement in a long down move.

Been a good morning so far. Shorted twice.
19706 out + 37 pips
19667 out + 30 pips

If break above 19678, might just develop into a full reversal. Just my thought.
if it break 1.9770, i think there will be a new high to go to.
  • #71,896
  • Jun 23, 2008 4:30am Jun 23, 2008 4:30am
Notice that your 50% ret fib, is the 1H 200 ema too, lending some support, but this will probably give way, later...

Still short from Thursday 1.9703 and Friday's 1.9780 with target at 1.9590
Getting it right is NOT as important as not getting it wrong.
  • #71,897
  • Jun 23, 2008 4:30am Jun 23, 2008 4:30am
good morning guys
the av. daily range for cable is between 120 to 160 pips
dont be upset if once u miss the entry , as we have always a move up or down and many pips pips every day , so who feel that he is out of market better to dont join in the middle of the way but to wait the next move .. its not the end of life and be sure no one can catch every single move and load green pips
good luck all and cheer up plz
  • #71,898
  • Jun 23, 2008 4:41am Jun 23, 2008 4:41am
Quoting Chang
1.9714 critical support. Broke instantly when London market open. This reflect London market sentiment echoing those of Asian market which was also short. I could only get in at 1.9706 since it happens so fast.

1.9669 another critical support. Again market broke through it very quick. So, instinct to short again.

Hmm, next critical support level at 1.9630 Slight retracement since then and almost back to 1.9669 and then bounce back down again. Market seems to stuck between these 2 important levels now. Best thing to do, wait for the price action to show the way since it can now go both ways.
nice analysis.

what chart were you looking at for your support and resistance information?

Thanks for your input.
  • #71,899
  • Jun 23, 2008 4:45am Jun 23, 2008 4:45am
The last 2hours, touching 50% Fibo twice... GU going up?? .....hmmmm

Quoting Runway Trade
15M pin Bar after touching 50% Fibo, Turning point?
  • #71,900
  • Jun 23, 2008 4:52am Jun 23, 2008 4:52am
Quoting John Lo
The last 2hours, touching 50% Fibo twice... GU going up?? .....hmmmm

could go down to 1.9616.
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