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Cable Update (GBPUSD)

  • #86,801
  • Sep 9, 2008 10:53pm Sep 9, 2008 10:53pm
Quoting eohater
1.78 could be near
Yup.... I think if we break yesterday's high, we are going to test the 4h 50ema.

Also....looking at the weekly, a bigger retracement could be on soon...
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Patience + Discipline - Greed = Success
  • #86,802
  • Sep 9, 2008 10:58pm Sep 9, 2008 10:58pm
Quoting Infinity
Yup.... I think if we break yesterday's high, we are going to test the 4h 50ema.

Also....looking at the weekly, a bigger retracement could be on soon...
Maybe you are right but my opinion there is still many empty space for cable to go down.
  • #86,803
  • Sep 9, 2008 10:59pm Sep 9, 2008 10:59pm
Quoting Infinity
Yup.... I think if we break yesterday's high, we are going to test the 4h 50ema.

Also....looking at the weekly, a bigger retracement could be on soon...
tokyo's high?
I recommend you read something else as this sentence is now concluded.
  • #86,804
  • Sep 9, 2008 11:09pm Sep 9, 2008 11:09pm
Quoting Obaidah
tokyo's high?
7706

Quoting Ritz
Maybe you are right but my opinion there is still many empty space for cable to go down.
I am not saying the retracement is here...I am saying there is indecision in the markets right now and it can go either way. I will wait for a break of the inside bar on the daily to place a trade, long or short....

I have a feeling that when the bigger retracement starts it will be just as fast and furious as the ride down, so risk management is key...
Patience + Discipline - Greed = Success
  • #86,805
  • Sep 9, 2008 11:11pm Sep 9, 2008 11:11pm
Quoting eohater
Here's what I'm looking at, the one hour chart is forming a wedge and looking strong working off the channel support.

The 4 hour is looking strong as well working off the channel support too.
Looks like a nice bearish flag/pennant you have there.
  • #86,806
  • Sep 9, 2008 11:17pm Sep 9, 2008 11:17pm
Quoting NuckingFuts
Looks like a nice bearish flag/pennant you have there.
it would be better if it was near the upper downward channel resistance. I'm not in a trade currently, waiting for a ride.
Just digging in the trenches like everyone else!
  • #86,807
  • Sep 9, 2008 11:25pm Sep 9, 2008 11:25pm
Quoting eohater
it would be better if it was near the upper downward channel resistance. I'm not in a trade currently, waiting for a ride.
hope you give us sign as soon as you find one, coffee time

be back after 30 mins..
I recommend you read something else as this sentence is now concluded.
  • #86,808
  • Sep 9, 2008 11:28pm Sep 9, 2008 11:28pm
Quoting eohater
it would be better if it was near the upper downward channel resistance. I'm not in a trade currently, waiting for a ride.
I like what u have to say very much ,however I think in a market l1ike this one I have to believe that technical analyis or anything else is kind of out the window,please give your thoughts,and by the way I think down
  • #86,809
  • Sep 9, 2008 11:37pm Sep 9, 2008 11:37pm
Quoting torcuswelby
I like what u have to say very much ,however I think in a market l1ike this one I have to believe that technical analyis or anything else is kind of out the window,please give your thoughts,and by the way I think down
I only have a technical view. Fundamentally I'm worthless. Reason I don't have fundamental view: I don't like the added emotion it creates. As I type this I'm long at 1.7650
Just digging in the trenches like everyone else!
  • #86,810
  • Sep 9, 2008 11:39pm Sep 9, 2008 11:39pm
Short again at 1.7669
stoploss 10 pips.
tp 250 pips.
  • #86,811
  • Sep 9, 2008 11:40pm Sep 9, 2008 11:40pm
Quoting eohater
I only have a technical view. Fundamentally I'm worthless. Reason I don't have fundamental view: I don't like the added emotion it creates. As I type this I'm long at 1.7650
am I a dope or what,I was reallly wrong
  • #86,812
  • Sep 9, 2008 11:42pm Sep 9, 2008 11:42pm
Quoting torcuswelby
am I a dope or what,I was reallly wrong
there's no guarantee
Just digging in the trenches like everyone else!
  • #86,813
  • Sep 9, 2008 11:51pm Sep 9, 2008 11:51pm
Quoting Ritz
Short again at 1.7669
stoploss 10 pips.
tp 250 pips.

your entries look to be great (at the top) ...are you doing them retrospectively or did you have a fib level there?
  • #86,814
  • Sep 9, 2008 11:52pm Sep 9, 2008 11:52pm
Quoting Ritz
Short again at 1.7669
stoploss 10 pips.
tp 250 pips.
you might have the better trade!
Just digging in the trenches like everyone else!
  • #86,815
  • Sep 10, 2008 12:01am Sep 10, 2008 12:01am
Everytime you get a solid four hour candle on the lows you could have been long, and made good pips everytime. Even during the downtrend go back and look for candles similar to these. Almost all the time they were good for a long of atleast 80-100 pips sometimes more.

Very simple rules wait wait wait for an entry candle. the ones you see are good entry candles.

Wait for proper trading sessions.


the short that i highlighted tested the wick at the open of the market on a one hour candle and four hour. text book sell.


let the market come to you dont chase it.


peace out
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  • #86,816
  • Sep 10, 2008 12:10am Sep 10, 2008 12:10am
Quoting Ritz
Short again at 1.7669
stoploss 10 pips.
tp 250 pips.
Closed with 30 pips.
I will short again at higher price later
  • #86,817
  • Sep 10, 2008 12:10am Sep 10, 2008 12:10am
Quoting eohater
....As I type this I'm long at 1.7650
My trade has been conceded. closed out with 4 pips profit.....premature entry, waiting for a new opportunity.
Just digging in the trenches like everyone else!
  • #86,818
  • Sep 10, 2008 12:11am Sep 10, 2008 12:11am
Quoting steelhead
Everytime you get a solid four hour candle on the lows you could have been long, and made good pips everytime. Even during the downtrend go back and look for candles similar to these. Almost all the time they were good for a long of atleast 80-100 pips sometimes more.

Very simple rules wait wait wait for an entry candle. the ones you see are good entry candles.

Wait for proper trading sessions.


the short that i highlighted tested the wick at the open of the market on a one hour candle and four hour. text book sell.


let the market come to you dont chase it.


peace out
Are you trading using trendline only?
  • #86,819
  • Sep 10, 2008 12:11am Sep 10, 2008 12:11am
Quoting Ritz
Closed with 30 pips.
I will short again at higher price later
I'm not laughing at you. You had a nice trade and grabbed some nice pips in a hurry. I'm laughing because we both closed out about the same time and both made profit in opposite trades from one another.
Just digging in the trenches like everyone else!
  • #86,820
  • Sep 10, 2008 12:13am Sep 10, 2008 12:13am
Quoting steelhead
Everytime you get a solid four hour candle on the lows you could have been long, and made good pips everytime. Even during the downtrend go back and look for candles similar to these. Almost all the time they were good for a long of atleast 80-100 pips sometimes more.

Very simple rules wait wait wait for an entry candle. the ones you see are good entry candles.

Wait for proper trading sessions.


the short that i highlighted tested the wick at the open of the market on a one hour candle and four hour. text book sell.


let the market come to you dont chase it.


peace out
there we go....nice post!
Just digging in the trenches like everyone else!
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