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Cable Update (GBPUSD)

  • #97,021
  • Nov 11, 2008 9:46am Nov 11, 2008 9:46am
This baby is going below 1.5000.
Keep selling
  • #97,022
  • Nov 11, 2008 9:46am Nov 11, 2008 9:46am
Quoting steelhead
Good keep selling into a hole.
i thought this dude was done with the forum?
Trading is 80% Emotional, 20% Technical
  • #97,023
  • Nov 11, 2008 9:48am Nov 11, 2008 9:48am
Quoting gagakrimba
This baby is going below 1.5000.
Keep selling
I thought we were below 1.5000...


I guess not yet...huh...???
Patience + Discipline - Greed = Success
  • #97,024
  • Nov 11, 2008 9:48am Nov 11, 2008 9:48am
even bigger sell off on eur/usd....
  • #97,025
  • Nov 11, 2008 9:48am Nov 11, 2008 9:48am
Quoting Infinity
channels are wonderful for scalping...

I just got a little 35 pipper long from this channel.. closed it near the m15 5sma....

I don't recommend countertrend trades like this if you are new to this..

Anyone got FXSol shit freeze on them? Shit, mine's stuck at -3 and I don't know whats going on!

It still says 10.33AM EST! WTF!

But SELL SELL SELL!!
  • #97,026
  • Nov 11, 2008 9:51am Nov 11, 2008 9:51am
Quoting steelhead
Not exactly what Im saying. Im saying they could be pushing it down themselves to get more folks short then steal their lunch money.

They do care what retail traders are doing i promise you that.

The shorts are working for now though so good job on that.
Firstly thanks for the explanation,

you are right they are pushing it down, and they are doing that by selling, they can and do steal lunch money by buying heavily to cause retraces, but as far as I'm concerned that has already happened with the move from 1.52 all the way back up to 1.66.

It's now time to resume the trend and find a new low.

the lower the better- for me anyway
  • #97,027
  • Nov 11, 2008 9:51am Nov 11, 2008 9:51am
Quoting Infinity
channels are wonderful for scalping...

I just got a little 35 pipper long from this channel.. closed it near the m15 5sma....

I don't recommend countertrend trades like this if you are new to this..
Bro, I thought you would be on the short bus with us. I jumped in on the 8:15am 15m candle opening (5650 filled price) and I haven't looked back. I'm thinking 5350 for TP would be nice.

Either way, I'm glad your making money. Like you said though, countertrend trades are not for newbies.
Just digging in the trenches like everyone else!
  • #97,028
  • Nov 11, 2008 9:52am Nov 11, 2008 9:52am
Im sure everyone has their system and can be successful at it. All im saying is you ask the majority of very successful traders if they are selling at these prices. I almost guarantee you to a man they would say no. If they are not positioning themselves long already they are getting ready too.

Fxlocal im back so get used to it.
  • #97,029
  • Nov 11, 2008 9:52am Nov 11, 2008 9:52am
i missed the train
When life gives you lemons, make lemonade
  • #97,030
  • Nov 11, 2008 9:53am Nov 11, 2008 9:53am
Finally the followthrough. After 27 hours of no sleep, woke up this morning with a nice little surprise in my account
  • #97,031
  • Nov 11, 2008 9:54am Nov 11, 2008 9:54am
Still selling.
I'll stop when it's below 1.5000
  • #97,032
  • Nov 11, 2008 9:55am Nov 11, 2008 9:55am
Quoting steelhead
Non taken I havent bought yet i wait for a four hour candle close.
Steelhead, at what time the 4 hour candle closes on your chart?
  • #97,033
  • Nov 11, 2008 9:56am Nov 11, 2008 9:56am
me too ..and all day waiting for it to happen...damn
  • #97,034
  • Nov 11, 2008 9:56am Nov 11, 2008 9:56am
Quoting eohater
Bro, I thought you would be on the short bus with us. I jumped in on the 8:15am 15m candle opening (5650 filled price) and I haven't looked back. I'm thinking 5350 for TP would be nice.

Either way, I'm glad your making money. Like you said though, countertrend trades are not for newbies.
Hey bro!! I am in the short party since 5600... I closed at 5435 and reversed for another 35 pips. I am now closed out waiting for a new ride.. Great job on your trade...
Patience + Discipline - Greed = Success
  • #97,035
  • Nov 11, 2008 9:56am Nov 11, 2008 9:56am
Just a side note to follow up on a chart i posted yesterday, this doesn't have to do with GU but its moving in accordance to what i predicted. Look for a great opportunity to short UJ later today after it breaks the 97 mark.
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  • #97,036
  • Nov 11, 2008 9:57am Nov 11, 2008 9:57am
Quoting gagakrimba
Still selling.
I'll stop when it's below 1.5000

Huh?? you sure it will reach 1.5000????
  • #97,037
  • Nov 11, 2008 9:57am Nov 11, 2008 9:57am
Quoting steelhead
Im sure everyone has their system and can be successful at it. All im saying is you ask the majority of very successful traders if they are selling at these prices. I almost guarantee you to a man they would say no. If they are not positioning themselves long already they are getting ready too.

Fxlocal im back so get used to it.
I'm sorry, but that is just plain wrong.
There's no way in hell 'successful' traders are loading up on longs. At least not before the previous low in the 1.52's.
  • #97,038
  • Nov 11, 2008 10:00am Nov 11, 2008 10:00am
Also, AUDUSD just broke a major support, 6300 for next TP. Just jumped on short.
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  • #97,039
  • Nov 11, 2008 10:02am Nov 11, 2008 10:02am
Quoting Shilva
I am playing this a 3 or 5 level run on the 5m chart only.

If the 4th leg down ( testing now) failes to break below the 3rd leg down then a long is generated.

It price breaks below the 3rd leg the I will expect it to go to a 5th level.
when price broke below the 3rd leg it gave confirmation not to close my short from 5530.......looking for two more levels down
  • #97,040
  • Nov 11, 2008 10:02am Nov 11, 2008 10:02am
stealhead this is DOWNTREND there positioning themselves to sell at a high and buy a dip...there only buying in a downtrend cause thats how people will lose money.....

to think u know about trading and cant undrstand this concept is not good,. a downtrend is caused by institutional traders selling at peaks and that why we are heading down not the other way round

UPTREND then its the opposite
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