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Cable Update (GBPUSD)

  • #72,181
  • Jun 24, 2008 8:52am Jun 24, 2008 8:52am
Quoting 007
I think we should not hold any trade longer than days until it trades outside the consolidation zone... meanwhile be patient , if one gotta trade only select the high probability intra-day trade.......

Ps: Could someone please show me some example of what is so called high probability trade????

I'm contemplating shorts from trendlines at 1.9700 and 1.9780 respectively, depending on the PA and divergence after news. There is much risk on the upside, so if momentum is upward, I'm off to bed.
Trade the reaction, not the news!
  • #72,182
  • Jun 24, 2008 9:06am Jun 24, 2008 9:06am
That was HORRIBLE news for the USA, guess which IDIOT forgot to check for news before placing the trade LOL


Averaged down, UJ 107.57+ to get out clean and up, come on!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,183
  • Jun 24, 2008 9:10am Jun 24, 2008 9:10am
LONG ... LONG ... LONG ....
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #72,184
  • Jun 24, 2008 9:12am Jun 24, 2008 9:12am
  •  System6
  • | Joined Feb 2008 | Status: Aim at nothing and you will hit it | 23 Posts
Wow! Turning out to be a great trade. Got in last night at 1.9603 long. TP moved to BE. Target 1.9785.
  • #72,185
  • Jun 24, 2008 9:15am Jun 24, 2008 9:15am
Quoting System6
Wow! Turning out to be a great trade. Got in last night at 1.9603 long. TP moved to BE. Target 1.9785.
Me, started from 1.9678 ..
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #72,186
  • Jun 24, 2008 9:18am Jun 24, 2008 9:18am
  •  System6
  • | Joined Feb 2008 | Status: Aim at nothing and you will hit it | 23 Posts
Quoting manize
Me, started from 1.9678 ..
Great. I gotta do some work now. Been staring at my screen the whole day.
  • #72,187
  • Jun 24, 2008 9:24am Jun 24, 2008 9:24am
Anyone entered short yet?
Just digging in the trenches like everyone else!
  • #72,188
  • Jun 24, 2008 9:25am Jun 24, 2008 9:25am
I'm looking at a short position here. Lets see...... cause cant seem to break out and up
  • #72,189
  • Jun 24, 2008 9:30am Jun 24, 2008 9:30am
Will the Fed jump in and run UJ up, letting me get to 12 wins in a row ( if you count averaging down )

Euro's turned over, UJ's turned up, but both early days!!!

DOH!!!! comes to mind!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,190
  • Jun 24, 2008 9:33am Jun 24, 2008 9:33am
Quoting eohater
Anyone entered short yet?
Just gone short - hope I'm not being too agressive here
I used to be smart - Education ruined me
  • #72,191
  • Jun 24, 2008 9:34am Jun 24, 2008 9:34am
Quoting DJ4x
I'm looking at a short position here. Lets see...... cause cant seem to break out and up

Unadviseable DJ4x the trend is UP, it'll rip you a new hole in seconds if it so decided to have another run!!

He says stuck on the wrong side hoping for a out!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,192
  • Jun 24, 2008 9:35am Jun 24, 2008 9:35am
Quoting DJ4x
I'm looking at a short position here. Lets see...... cause cant seem to break out and up
ok short on at 1.9712
  • #72,193
  • Jun 24, 2008 9:37am Jun 24, 2008 9:37am
Quoting Turveyd
Unadviseable DJ4x the trend is UP, it'll rip you a new hole in seconds if it so decided to have another run!!

He says stuck on the wrong side hoping for a out!!
MM is good, so no stress.... Also my position was taken in last quarter of my monthly grid so well within my trading plan. Will look to short again at 1.9820 or so.
Hopefully not necessary cause I hate carrying shorts overnight
who knows what gonna happen
  • #72,194
  • Jun 24, 2008 9:37am Jun 24, 2008 9:37am
Testing M1 45sma bounced off once, breaks this level then you might get lucky but only lucky

UJ's failing to break over the same, Euro's moving down to test it, better indictation shortly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,195
  • Jun 24, 2008 9:40am Jun 24, 2008 9:40am
  •  System6
  • | Joined Feb 2008 | Status: Aim at nothing and you will hit it | 23 Posts
Quoting ThePipAholic
Just gone short - hope I'm not being too agressive here
Might range between 1.9700 and 1.9725 for a while before choosing a direction again. Let's wait and see. I'm still hoping for some upward movement.
  • #72,196
  • Jun 24, 2008 9:42am Jun 24, 2008 9:42am
Quoting DJ4x
MM is good, so no stress.... Also my position was taken in last quarter of my monthly grid so well within my trading plan. Will look to short again at 1.9820 or so.
Hopefully not necessary cause I hate carrying shorts overnight
who knows what gonna happen

Who knows, these days it's a pretty safe bet, to bet on CHOP is likely to happen, so averaging down and sticking your ground is working well. But holding over news is SUICIDAL with this system as Trends can occur Doh!!!


Gone are the big moves and channel trades of 2months back.

Looking like it's time to take a small loss for me, but 11 wins in a row is kicking some butt, will try to do better next run
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,197
  • Jun 24, 2008 9:43am Jun 24, 2008 9:43am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
Quoting Turveyd
Despite my 11wins in a row, nope sorry can't help you there, 1 days high probability is the next days account blower, got to keep adapting to the big boys game plan.

There be no high probability trade at this point

* UJ's worth a long here 62ema under but only looking for 15pips 30 best case!! *
To me, the so called high probability trade is simply any trade that you're willing to take, if not, why would you take? lol Btw, just wonder why people wanna short???
  • #72,198
  • Jun 24, 2008 9:43am Jun 24, 2008 9:43am
45sma held all charts, price action on gbp is weak so got a shot.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,199
  • Jun 24, 2008 9:47am Jun 24, 2008 9:47am
Quoting 007
To me, the so called high probability trade is simply any trade that you're willing to take, if not, why would you take? lol Btw, just wonder why people wanna short???
Most people don't think like that, I only take what I deem as REALLY high probability trades and I've done enough of a statistical study to know they'll work eventually, but can't predict perfect entrys hence averaging down.

Opening trade #1 6mins before BIG news was a official screw up.



Euro and UJ break 45sma, 90sma next target and high Prob to the Long side near!! GBP holding over!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,200
  • Jun 24, 2008 9:49am Jun 24, 2008 9:49am
Quoting System6
Might range between 1.9700 and 1.9725 for a while before choosing a direction again. Let's wait and see. I'm still hoping for some upward movement.
Hmmm S/L set at 19736 - so lets wait & see
I used to be smart - Education ruined me
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