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Cable Update (GBPUSD)

  • #88,601
  • Sep 19, 2008 7:27am Sep 19, 2008 7:27am
Quoting ezmystic
short at 1.8010
bro i highly suggest that you reconsider your position, actually i think it heading to 1.833x
I recommend you read something else as this sentence is now concluded.
  • #88,602
  • Sep 19, 2008 7:28am Sep 19, 2008 7:28am
Quoting hard1head1
I am just showing you how I am trading this wedge. The pivot bars are long trades and the next long pivot trade will be Sunday night if the opportunity is still there. Bearish move is over for the most part, however, I wouldn't rule out that it come back down to the 1.7900 area, which is what we want to be able to trade this long Pivot trade on Sunday with a small stoploss. As it stands now the stoploss would be over 160 Pips with a net profit of approx. 234. You are reading 1 step behind me. I will reiterate one more time: As I said before, GBP/USD is not for beginner traders, if you are new try E/J or E/U because this pair will kill you and it won't even look back.

Jim
can u apply the same knowledge technically to those other curencies, i say this cause i never traded them b4, even when yur right u have to worry about being gunned for the stops..hectic stuff for me..my ass is in negative profit for week now by £5 pissed
  • #88,603
  • Sep 19, 2008 7:30am Sep 19, 2008 7:30am
If you took the bounce off the 15 Min 89 on EJ, this is what you would be seeing in your bank as of right now.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.jpg Size: 200 KB
  • #88,604
  • Sep 19, 2008 7:33am Sep 19, 2008 7:33am
Yes Nav, it works for all and all timeframes, but the smaller the time frames the more negative trades you will have. You have to take the trades that fit well into MM, not just slap it on. And the fact that your trading pivots you are automatically trading with the trend of the moment.


Quoting nAVIN2007
can u apply the same knowledge technically to those other curencies, i say this cause i never traded them b4, even when yur right u have to worry about being gunned for the stops..hectic stuff for me..my ass is in negative profit for week now by £5 pissed
  • #88,605
  • Sep 19, 2008 7:39am Sep 19, 2008 7:39am
Quoting hard1head1
Yes Nav, it works for all and all timeframes, but the smaller the time frames the more negative trades you will have. You have to take the trades that fit well into MM, not just slap it on. And the fact that your trading pivots you are automatically trading with the trend of the moment.
i will give it ago..this currency is driving me nuts
  • #88,606
  • Sep 19, 2008 7:40am Sep 19, 2008 7:40am
Quoting manize
Hallo Navin, are you ok ? Freaky friday might be come true. Wait to break the next stop 1.8085/90. Hold long from 1.8000.
I inform you that I stop my hedge by today. 60% loss, but now I feel more fresh and more better than the latest 2 months situation to start a new battle.
im sorry to hear this loss bro...u will make it back thou..im sure

trade safe
  • #88,607
  • Sep 19, 2008 7:48am Sep 19, 2008 7:48am
Quoting Obaidah
bro i highly suggest that you reconsider your position, actually i think it heading to 1.833x
This can be your first target
  • #88,608
  • Sep 19, 2008 7:49am Sep 19, 2008 7:49am
Quoting bbmac
as screenshot
Will this news move the market?
"Invest With The Insiders, Not The Masses" George Muzea
  • #88,609
  • Sep 19, 2008 8:00am Sep 19, 2008 8:00am
Woo look at the pound go. Four hour pinbar started this move for me.
"Don't trade to trade . . . trade to win." - James16
  • #88,610
  • Sep 19, 2008 8:03am Sep 19, 2008 8:03am
Quoting Flem26
Woo look at the pound go. Four hour pinbar started this move for me.
stupid SL
  • #88,611
  • Sep 19, 2008 8:04am Sep 19, 2008 8:04am
got out for -150 pips. B*ll*x
please DON'T copy my trades I am still learning
  • #88,612
  • Sep 19, 2008 8:05am Sep 19, 2008 8:05am
Quoting Runway Trade
Short at 1.8069. Reaon - Feds take over of banks and new housing structure, this has propmted a bit of a sell off of gold after the jump yesterday and GB suspension of short sales on the stock market. I think USD will gain strenth from this for the rest of the day. Just my opinion
Looks like cable did not like what I said, sorry out -30 one position and hedged the other I still think we will come down
  • #88,613
  • Sep 19, 2008 8:09am Sep 19, 2008 8:09am
Quoting ezmystic
got out for -150 pips. B*ll*x
ITS CRAZY ISNT IT....in a matter of minutes u can gain 100 pips or lose
  • #88,614
  • Sep 19, 2008 8:10am Sep 19, 2008 8:10am
And it ran smack into the Daily Pivot and thats all folks. Remember me saying that it may come back down to allow us a nice pivot trade on Sunday?

Quoting Flem26
Woo look at the pound go. Four hour pinbar started this move for me.
  • #88,615
  • Sep 19, 2008 8:13am Sep 19, 2008 8:13am
Quoting hard1head1
And it ran smack into the Daily Pivot and thats all folks. Remember me saying that it may come back down to allow us a nice pivot trade on Sunday?
All good. As soon as it hit the pivot along with the 150 ema, I was out.
"Don't trade to trade . . . trade to win." - James16
  • #88,616
  • Sep 19, 2008 8:15am Sep 19, 2008 8:15am
Quoting nAVIN2007
ITS CRAZY ISNT IT....in a matter of minutes u can gain 100 pips or lose
Damn right. I think I will try a tighter SL next time
please DON'T copy my trades I am still learning
  • #88,617
  • Sep 19, 2008 8:18am Sep 19, 2008 8:18am
Quoting ezmystic
Damn right. I think I will try a tighter SL next time
i did this and missed 250 pips all because the stop loss was to close and the position was calculated, this market is a beast u have to go accepting the possiblity of a loss....

its very difficult to go in at SL 20-30 pips
  • #88,618
  • Sep 19, 2008 8:23am Sep 19, 2008 8:23am
Quoting nAVIN2007
i did this and missed 250 pips all because the stop loss was to close and the position was calculated, this market is a beast u have to go accepting the possiblity of a loss....

its very difficult to go in at SL 20-30 pips
Market is precise you just have to use the required tools and apply them in correct timing
  • #88,619
  • Sep 19, 2008 8:28am Sep 19, 2008 8:28am
@8239
Jesus Christ is my only Lord !
  • #88,620
  • Sep 19, 2008 8:28am Sep 19, 2008 8:28am
Quoting hard1head1
I am just showing you how I am trading this wedge. The pivot bars are long trades and the next long pivot trade will be Sunday night if the opportunity is still there. Bearish move is over for the most part, however, I wouldn't rule out that it come back down to the 1.7900 area, which is what we want to be able to trade this long Pivot trade on Sunday with a small stoploss. As it stands now the stoploss would be over 160 Pips with a net profit of approx. 234. You are reading 1 step behind me. I will reiterate one more time: As I said before, GBP/USD is not for beginner traders, if you are new try E/J or E/U because this pair will kill you and it won't even look back.

And yes you are right about going long after todays close, but only if the trade is still there and it fits the MM

Jim
Maybe I should try one of these pairs?
please DON'T copy my trades I am still learning
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