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Cable Update (GBPUSD)

  • #96,921
  • Nov 11, 2008 4:47am Nov 11, 2008 4:47am
same as i did just a few minutes ago...
and all the disturbing posts is gone...
what a nice use of the ignore button

finally the big charts, the repetiting words, and the big fonts is off from my screen...

Quoting micho
i dont like to ignore people... but i added him

there is no chance he will change!!!
Money management is good for your health...
  • #96,922
  • Nov 11, 2008 4:49am Nov 11, 2008 4:49am
Im out now, see u at us open then. Better take a bath then see this a...sol
GELORE
  • #96,923
  • Nov 11, 2008 4:49am Nov 11, 2008 4:49am
Hi,

here we are cable has broken the dynamic support trendline..
.
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  • #96,924
  • Nov 11, 2008 4:54am Nov 11, 2008 4:54am
Yeah

wonder cable

close all @ 5527

now coffee time
  • #96,925
  • Nov 11, 2008 4:57am Nov 11, 2008 4:57am
Quoting Drake
Yeah

wonder cable

close all @ 5527

now coffee time
great
When life gives you lemons, make lemonade
  • #96,926
  • Nov 11, 2008 4:59am Nov 11, 2008 4:59am
see euro going up and cable going down haha
When life gives you lemons, make lemonade
  • #96,927
  • Nov 11, 2008 5:00am Nov 11, 2008 5:00am
1H corridor
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Jesus Christ is my only Lord !
  • #96,928
  • Nov 11, 2008 5:13am Nov 11, 2008 5:13am
it should go UP today according to http://algsnotes.blogspot.com
Besides today's news - Trade Balance was positive for pair
ROBOT FOREX
  • #96,929
  • Nov 11, 2008 5:48am Nov 11, 2008 5:48am
I'm out for today, see you tomorrow, by the way tomorrow we have important news be carful
Attached Image
  • #96,930
  • Nov 11, 2008 5:51am Nov 11, 2008 5:51am
Hi all.My cgart for now.All 3 TF below blue line for now..Will see the rest of the day.I think today or soon we have retails sales for GBP.Maybe i see that info wrong on CNBC NEWS.It could be bad news for GBP.

The way i see for now OIl going down USD is going up cable is down.Didn't check todays move on oil.Oil is going down because of recesion in US and they try to put selling of oil up by reducing price.Since everything is in USD USd getting stronger nometter bad economy result.As long this link is unchanged cable will go down.

All H&S that i see back in days are played as i see and now i am waiting for new US session move.It is sunny day in my place so going out.See ya later
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  • #96,931
  • Nov 11, 2008 6:31am Nov 11, 2008 6:31am
Good morning ladies and gents! I hope everyone had a good night. I'm going back through to read the posts and see how the charts worked out. One thing immediately jumping out at me is that we've pushed below the low of yesterday's bearish bar and so I'm adding a short here to my prior shorts on the table. The lower timeframes are all bearish as well so I will be shorting any rallies from here until 1.53. My targets are at 1.52- getting cllooosssseeerrrrrr lol Have a great day everyone.
I dream, therefore I become.
  • #96,932
  • Nov 11, 2008 7:04am Nov 11, 2008 7:04am
Quoting mike w
Good morning ladies and gents! I hope everyone had a good night. I'm going back through to read the posts and see how the charts worked out. One thing immediately jumping out at me is that we've pushed below the low of yesterday's bearish bar and so I'm adding a short here to my prior shorts on the table. The lower timeframes are all bearish as well so I will be shorting any rallies from here until 1.53. My targets are at 1.52- getting cllooosssseeerrrrrr lol Have a great day everyone.
what timeframe do you used to when deciding a top is reached (shorting the rallies)
  • #96,933
  • Nov 11, 2008 7:15am Nov 11, 2008 7:15am
Quoting mpurdy1973
what timeframe do you used to when deciding a top is reached (shorting the rallies)
I use bearish price action on a top to decide when a rally is losing steam. For instance, the one we are currently in. I am waiting for a lower timeframe bearish form of PA on the 15 minute or possibly even the 5 and then shorting again.

I'm taking a short now. 1.5633 just based on what IM seeing in the charts. Don't trade anything unless your seeing it take place for yourself.
I dream, therefore I become.
  • #96,934
  • Nov 11, 2008 7:26am Nov 11, 2008 7:26am
Quoting mike w
I use bearish price action on a top to decide when a rally is losing steam. For instance, the one we are currently in. I am waiting for a lower timeframe bearish form of PA on the 15 minute or possibly even the 5 and then shorting again.

I'm taking a short now. 1.5633 just based on what IM seeing in the charts. Don't trade anything unless your seeing it take place for yourself.
lol that one is a bad example miky... hehehe too fast and price manipulation

we cant even see where its losing steam its on the floor already lol
When life gives you lemons, make lemonade
  • #96,935
  • Nov 11, 2008 7:27am Nov 11, 2008 7:27am
Quoting mike w
I use bearish price action on a top to decide when a rally is losing steam. For instance, the one we are currently in. I am waiting for a lower timeframe bearish form of PA on the 15 minute or possibly even the 5 and then shorting again.

I'm taking a short now. 1.5633 just based on what IM seeing in the charts. Don't trade anything unless your seeing it take place for yourself.
Ane here we are back to the beginning lol Now I am just going to set my stop loss for plus 5 on that last trade and watch them run until I am able to set my lower entry stop loss into profit as well and watch us slowly touch 152s.
I dream, therefore I become.
  • #96,936
  • Nov 11, 2008 7:28am Nov 11, 2008 7:28am
Quoting micho
lol that one is a bad example miky... hehehe too fast and price manipulation

we cant even see where its losing steam its on the floor already lol
Your right on that one Micho lol It was a nice setup, but not the best teaching example. When another one comes about, I'll post about it and hopefully that will help out.
I dream, therefore I become.
  • #96,937
  • Nov 11, 2008 7:29am Nov 11, 2008 7:29am
Quoting mike w
Ane here we are back to the beginning lol Now I am just going to set my stop loss for plus 5 on that last trade and watch them run until I am able to set my lower entry stop loss into profit as well and watch us slowly touch 152s.
im having so much difficulty trading from work... people all around me
it sucks
When life gives you lemons, make lemonade
  • #96,938
  • Nov 11, 2008 7:32am Nov 11, 2008 7:32am
Quoting mike w
I use bearish price action on a top to decide when a rally is losing steam. For instance, the one we are currently in. I am waiting for a lower timeframe bearish form of PA on the 15 minute or possibly even the 5 and then shorting again.

I'm taking a short now. 1.5633 just based on what IM seeing in the charts. Don't trade anything unless your seeing it take place for yourself.


once you are in (assuming the market conditions) what are your initial stops? do you use trailing stop? do you used targets or do you pyramid?
  • #96,939
  • Nov 11, 2008 7:36am Nov 11, 2008 7:36am
Quoting mpurdy1973
once you are in (assuming the market conditions) what are your initial stops? do you use trailing stop? do you used targets or do you pyramid?
well ill tell u what i do... i know mike is gonna answer too... i dont use stop loss.. but i keep an eye on the order... and sometimes close it manually
When life gives you lemons, make lemonade
  • #96,940
  • Nov 11, 2008 7:39am Nov 11, 2008 7:39am
Quoting micho
well ill tell u what i do... i know mike is gonna answer too... i dont use stop loss.. but i keep an eye on the order... and sometimes close it manually
You must also let the man know that you trade very very short term Micho. Trading longer term without stops is normally a bad idea- I've done it and lost money in the long run because of it. Sometimes it works, sometimes you get slaughtered.

Normally I will set my stops just above the market ranges. Depending on the timeframes, this varies greatly.
I dream, therefore I become.
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