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Cable Update (GBPUSD)

  • #95,121
  • Oct 31, 2008 11:40am Oct 31, 2008 11:40am
Quoting nAVIN2007
fantastic trading .....welldone
thanks navin, i can't believe it... 7 trades, 1500 pips. i start to use my feelings with more confidence, after think about that in saturday, remember: i blown my account on friday, after to NOT follow my feelings, and made things really bad... I could observe that my thoughts the most of the times was correct, but the fear dominates me and close my trades at the wrong time, even on looses... this week i didn't do it. i won the fear, and the result are more than obvious... my head was wrong and my feelings are right... another thing: i am not married anymore with positions when i believe soon will be in the wrong way.
and incredible thing, at the moment i closed it, price start to move against me... so i was right in the time to close the positions..

This was a great week to me!!
  • #95,122
  • Oct 31, 2008 11:41am Oct 31, 2008 11:41am
0.382 Fib of the retrace is still being worked on (4HR TF, green line)
Attached Image
I need to put up stop losses.
  • #95,123
  • Oct 31, 2008 11:44am Oct 31, 2008 11:44am
Quoting PipGal
What direction now, lol

I really want to see the 1.50s next week.
hey diod u see my reply to ur photo?
When life gives you lemons, make lemonade
  • #95,124
  • Oct 31, 2008 11:47am Oct 31, 2008 11:47am
Quoting micho
hey diod u see my reply to ur photo?
I just saw it...sorry been away from computer for past 1 hour in HR's office, lol.

Micho, you have a cute turtle. And gorgeous red hair.
  • #95,125
  • Oct 31, 2008 12:01pm Oct 31, 2008 12:01pm
Quoting PipGal
I just saw it...sorry been away from computer for past 1 hour in HR's office, lol.

Micho, you have a cute turtle. And gorgeous red hair.
When life gives you lemons, make lemonade
  • #95,126
  • Oct 31, 2008 12:35pm Oct 31, 2008 12:35pm
Quoting cesarg
thanks navin, i can't believe it... 7 trades, 1500 pips. i start to use my feelings with more confidence, after think about that in saturday, remember: i blown my account on friday, after to NOT follow my feelings, and made things really bad... I could observe that my thoughts the most of the times was correct, but the fear dominates me and close my trades at the wrong time, even on looses... this week i didn't do it....
yes this is tough game alright! .....its good that yur able to make the necessary adjustments already....keep it up
  • #95,127
  • Oct 31, 2008 12:41pm Oct 31, 2008 12:41pm
any clue where cable is going now
When life gives you lemons, make lemonade
  • #95,128
  • Oct 31, 2008 1:25pm Oct 31, 2008 1:25pm
Quoting micho
any clue where cable is going now
i realised with this thing.....it plays out a retrace then plays with the people who dont know what the hell is going on...takes the money then heads down

i suppose it has to happen if 80% of people are said to lose
  • #95,129
  • Oct 31, 2008 1:38pm Oct 31, 2008 1:38pm
Quoting nAVIN2007
i realised with this thing.....it plays out a retrace then plays with the people who dont know what the hell is going on...takes the money then heads down

i suppose it has to happen if 80% of people are said to lose
80% with all currencies but with cable maybe 99% lose money
When life gives you lemons, make lemonade
  • #95,130
  • Oct 31, 2008 1:40pm Oct 31, 2008 1:40pm
GELORE
  • #95,131
  • Oct 31, 2008 1:44pm Oct 31, 2008 1:44pm
Quoting micho
80% with all currencies but with cable maybe 99% lose money

yes for a long time i been trading this cable thinking it was easier but it appear to be the biggest bitch in the whole market

i think im gonna try trading other currencies also
  • #95,132
  • Oct 31, 2008 1:45pm Oct 31, 2008 1:45pm
SR level. GREEN LINE.

EVen the BLUE line TL is broken. But I will wait for a broken of the SR level to short. Or unable to break, then I long.
Attached Image (click to enlarge)
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  • #95,133
  • Oct 31, 2008 1:46pm Oct 31, 2008 1:46pm
Quoting micho
80% with all currencies but with cable maybe 99% lose money
The spreads alone kill cable

on oanda right now it is 2.5 euro and 5 on cable

most of the time i have euro and cable charts running but they are so much in sync most of the time that i take a euro position

and yes its less rabid in its movements even though the eventual direction is same as euro
  • #95,134
  • Oct 31, 2008 1:56pm Oct 31, 2008 1:56pm
.....
Attached Image (click to enlarge)
Click to Enlarge Name: bulldog.com.jpg Size: 92 KB
  • #95,135
  • Oct 31, 2008 1:56pm Oct 31, 2008 1:56pm
the key is 6040. if is unable to break, next stage will be around 7180 and then 7380 or 7445 because we will have a very possible inverse H&S formation in 4 hs wich its head has a a&e double bottom formation.

Of course, i could be wrong...


looking the chart above, posted by navin, are nice wave 1 and wave 2... if is a inverse H&S we will have the wave 3.... beatiful long!!
  • #95,136
  • Oct 31, 2008 1:57pm Oct 31, 2008 1:57pm
Dont now where the trand is?? As i seee my 1hr chart is still down.
GELORE
  • #95,137
  • Oct 31, 2008 2:24pm Oct 31, 2008 2:24pm
If anybody is thinking of another currency pair to trade I recommend Euro/Cad.....she is very well behaved and worth the 8 pip spread.
  • #95,138
  • Oct 31, 2008 2:33pm Oct 31, 2008 2:33pm
Quoting musani
Dont now where the trand is?? As i seee my 1hr chart is still down.
You are right but people have an eye on the Stock markets which are jogging back up gently but persistently - and once the fear dies away then the theory is that USD can flow out of the USA again with some confidence

The pointer to the future MAY BE these other factors rather than the technicals which point down but were formed when the earth was young - about a week ago - in totally different circumstances

Of course it may be the case that cable deserves to be at 1.32 by virtue of its fundamentals even if all fear has gone

judging that is the trick
  • #95,139
  • Oct 31, 2008 2:53pm Oct 31, 2008 2:53pm
Quoting Qu|cksilver
I have done alot of analysis since last friday and it shows cable can go up to 1.9033 maybe.. and i don't think today the price will hit that level because today not much news for gbp and usd.

no way the cable is going to dive in the meduim term so we will see 1.5600 again
the cable will be sold off aggressively
I always knew that someday I would make it big
  • #95,140
  • Oct 31, 2008 3:02pm Oct 31, 2008 3:02pm
But im realy is this a right time to start long my friends and now we are at the lowers price? How can i diside it where to go?? But i trust all of u in the forum that i have learn alot...(at the moment)
GELORE
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