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Cable Update (GBPUSD)

  • #84,941
  • Aug 29, 2008 9:33am Aug 29, 2008 9:33am
Quoting fx local
i wonder if steelhead still thinks big bhoys are buying here?

cable terribly weak seems no1 wants to buy it at all,
no way u can go long without hedging...u would lose yur account..but saying this...1.8150 area if it crosses then....then will sink to 1.7 without a retrace..
  • #84,942
  • Aug 29, 2008 9:35am Aug 29, 2008 9:35am
Quoting fx local
i wonder if steelhead still thinks big bhoys are buying here?

cable terribly weak seems no1 wants to buy it at all,


Hey local good morning. Yes if the four hour candle closes on the lows I most likely will be buying again. Didnt work out so bad yesterday the trade yielded about 100 pips. Nice thing about that didnt have to sit around all day in and out of trades to get it.

One thing that might stop me today is the long weekend. I usually don't hold many trades over the weekend, but yes I will be buying more cable for sure. If not today then when the market opens again.
  • #84,943
  • Aug 29, 2008 9:38am Aug 29, 2008 9:38am
Quoting nAVIN2007
looks like the pin was there to finish people off..hope non of us went for it...

what pin is that nav? thx.

mni saying that bids also likely at 8150 area on any extended 'with trend ' move, the area being Dly S2 8149-53. Plenty of room for movement re average daily pip ranges, 118pips the hi-lo move so far today, well within the 5 10 and 20 averages of 203, 176, and 179 respectively
ex member
  • #84,944
  • Aug 29, 2008 9:39am Aug 29, 2008 9:39am
trying to get past S1 8223
  • #84,945
  • Aug 29, 2008 9:42am Aug 29, 2008 9:42am
Quoting bbmac
what pin is that nav? thx.

mni saying that bids also likely at 8150 area on any extended 'with trend ' move, the area being Dly S2 8149-53. Plenty of room for movement re average daily pip ranges, 118pips the hi-lo move so far today, well within the 5 10 and 20 averages of 203, 176, and 179 respectively

this one bud...
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  • #84,946
  • Aug 29, 2008 9:42am Aug 29, 2008 9:42am
Iwill short again
Jesus Christ is my only Lord !
  • #84,947
  • Aug 29, 2008 9:44am Aug 29, 2008 9:44am
Quoting nAVIN2007
this one bud...

got ya, thanx again.
ex member
  • #84,948
  • Aug 29, 2008 9:45am Aug 29, 2008 9:45am
...

piercing pattern ..needs another confirmation..to be safe
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  • #84,949
  • Aug 29, 2008 9:48am Aug 29, 2008 9:48am
Quoting steelhead
Hey local good morning. Yes if the four hour candle closes on the lows I most likely will be buying again. Didnt work out so bad yesterday the trade yielded about 100 pips. Nice thing about that didnt have to sit around all day in and out of trades to get it.

One thing that might stop me today is the long weekend. I usually don't hold many trades over the weekend, but yes I will be buying more cable for sure. If not today then when the market opens again.
hey, end of month also, monday labor day, new month lets see what it brings as every1 comes back from holidays etc
Trading is 80% Emotional, 20% Technical
  • #84,950
  • Aug 29, 2008 9:50am Aug 29, 2008 9:50am
Hey Guys.
This has been the worst month for me (trading and non).
Haven't had many opportunities to trade. Been too busy with work. So saying, am now jobless (hehehe lots of time to trade from now on). Lookin back at the month of August it has been one of those kind of trends that is so eeeeaaasy. (in hindsight of course). I am always looking for long positions on cable though. have to change this mindset.
Anyways......... happy pips to all of ya
  • #84,951
  • Aug 29, 2008 9:56am Aug 29, 2008 9:56am
Quoting DJ4x
Hey Guys.
This has been the worst month for me (trading and non).
Haven't had many opportunities to trade. Been too busy with work. So saying, am now jobless (hehehe lots of time to trade from now on). Lookin back at the month of August it has been one of those kind of trends that is so eeeeaaasy. (in hindsight of course). I am always looking for long positions on cable though. have to change this mindset.
Anyways......... happy pips to all of ya
Forget about forex during the weekend, have it nice and peaceful,

best wishes
Jesus Christ is my only Lord !
  • #84,952
  • Aug 29, 2008 10:01am Aug 29, 2008 10:01am
Quoting fx local
hey, end of month also, monday labor day, new month lets see what it brings as every1 comes back from holidays etc


Let's review long positions and what was possible pips this week.


Sunday/Monday we got a close of four hour candle at 1.8413 it rose to 1.8590 Possible 173 pips

Tuesday: got close of four hour candle at 1.8345 with a rise to 1.8489 possible pips 144

Wed: close of four hour candle at 1.8314 closing near the lows of the sunday close of 1.8314 or so. Rose to 1.8400 possible 86 pips.

thursday: close of candle around 1.8250 with a rise to 1.8341 possible pips 91.

That is a possible 494 pips this from following simple rules for entering a trade. Most those trades had little or no drawdown.

4 trades this week meaning You wouldnt have to sit in front of your computer all day. Wait for the market to come to you and take the trade.

One thing to keep in mind is the time of day. I only trade the London and New York session mainly with few exceptions.

I really doubt that anyone can say there system yielded almost 500 pips on one currency. If you can say your system did I know it wasnt in four trades. Most likely 10-12 trades or more.You could have literally pounded the pound this week.
  • #84,953
  • Aug 29, 2008 10:02am Aug 29, 2008 10:02am
Quoting DJ4x
Hey Guys.
This has been the worst month for me (trading and non).
Haven't had many opportunities to trade. Been too busy with work. So saying, am now jobless (hehehe lots of time to trade from now on). Lookin back at the month of August it has been one of those kind of trends that is so eeeeaaasy. (in hindsight of course). I am always looking for long positions on cable though. have to change this mindset.
Anyways......... happy pips to all of ya
good to hear from u bro...yes im guilty of same thing...when we were going up, we dreaming of the shorts to go deep now we deep we looking for the sky...common thing really...we in soceity always looking to buy cheap and sell high, i guess this is why trading always have buyers and sellers..

anyways good luck next month and keep the pips in the pocket
  • #84,954
  • Aug 29, 2008 10:11am Aug 29, 2008 10:11am
short
Jesus Christ is my only Lord !
  • #84,955
  • Aug 29, 2008 10:14am Aug 29, 2008 10:14am
Steelhead,

Good job on your short position from yesterday!

I still contend that you are counter trend trading. There is nothing wrong with this style of trading. The key is for it to work for you and your risk/reward appetite.

I'm sure when the overall direction does change, you'll be calling shorts!

Please post a chart showing the setup that you look for on the 4 hour to confirm the trade.
Just digging in the trenches like everyone else!
  • #84,956
  • Aug 29, 2008 10:18am Aug 29, 2008 10:18am
She's digging deeper. Possible hit 1.819x
Just digging in the trenches like everyone else!
  • #84,957
  • Aug 29, 2008 10:18am Aug 29, 2008 10:18am
Quoting steelhead
Let's review long positions and what was possible pips this week.


Sunday/Monday we got a close of four hour candle at 1.8413 it rose to 1.8590 Possible 173 pips

Tuesday: got close of four hour candle at 1.8345 with a rise to 1.8489 possible pips 144

Wed: close of four hour candle at 1.8314 closing near the lows of the sunday close of 1.8314 or so. Rose to 1.8400 possible 86 pips.

thursday: close of candle around 1.8250 with a rise to 1.8341 possible pips 91.

That is a possible 494 pips this from following simple rules for entering a trade. Most those trades had little or no drawdown.

4 trades this week meaning You wouldnt have to sit in front of your computer all day. Wait for the market to come to you and take the trade.

One thing to keep in mind is the time of day. I only trade the London and New York session mainly with few exceptions.

I really doubt that anyone can say there system yielded almost 500 pips on one currency. If you can say your system did I know it wasnt in four trades. Most likely 10-12 trades or more.You could have literally pounded the pound this week.
good stuff, whatever works 4u iguess, simple method always best, ive been catching it the other way. goes to show plently of opp in this market to catch 100 pips
Trading is 80% Emotional, 20% Technical
  • #84,958
  • Aug 29, 2008 10:25am Aug 29, 2008 10:25am
Quoting eohater
Steelhead,

Good job on your short position from yesterday!

I still contend that you are counter trend trading. There is nothing wrong with this style of trading. The key is for it to work for you and your risk/reward appetite.

I'm sure when the overall direction does change, you'll be calling shorts!

Please post a chart showing the setup that you look for on the 4 hour to confirm the trade.

Eohater I'm not sure how i post charts on here. In the tech arena I lack experience.
  • #84,959
  • Aug 29, 2008 10:25am Aug 29, 2008 10:25am
Quoting fx local
good stuff, whatever works 4u iguess, simple method always best, ive been catching it the other way. goes to show plently of opp in this market to catch 100 pips
made 97 pps today - I am really happy


good luck all!
Jesus Christ is my only Lord !
  • #84,960
  • Aug 29, 2008 10:32am Aug 29, 2008 10:32am
Yo......
I made it through the storm.....

That was some scary shit but all is good. I had a short order at 9350 that was missed but I still got about 80 short pips this morning. I have some cleaning up to do so I'm done trading for today..Happy pippin to all and enjoy your weekend...

Be safe...
Patience + Discipline - Greed = Success
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