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Cable Update (GBPUSD)

  • #99,541
  • Nov 19, 2008 6:58am Nov 19, 2008 6:58am
Here is a look at the current 4hr chart. Forgive me because I have 3 sets of fibs on here but it seems to be following the last set which is pulled from the last dominant move from 1.6668 or there abouts. Notice how we met resistance from the 23.6 but challenging it again. This area and trend line are very important for the short term. If we are able to place a candle above this trend line we will probably find our way to the 38.2 at 1.5360. Now this is a big if but it is what you should be looking for or a break of the lower trend and it will probably test the low again. I hope this is helpful.
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Zone Breakout Method
  • #99,542
  • Nov 19, 2008 6:59am Nov 19, 2008 6:59am
high wave candles formed at top of range...indecision about breaking out..if news isnt good for USD then droping is a real possibility
  • #99,543
  • Nov 19, 2008 7:00am Nov 19, 2008 7:00am
Quoting i.shawish
BSHARAFAK...HALA 7BEBE...ANA ORDONE(T2EEEEEEEL DAMM O KESHER ZAY MA BT7KO 3NNA)...MY ACCOUNT 10,000 AND I AM WITH CROWN ZEFT ALSO...
lol lol... well wait for a retracement at 90 for a possible position to buy... or wait for 1.5146 or 1.52xx to sell again and close the two positions at break even

but today dont do any other trade before this meeting tonight, because it can go either ways.. might go to 52xx or might go down as well to our positions and below... so for now just watch, you have good margin left
When life gives you lemons, make lemonade
  • #99,544
  • Nov 19, 2008 7:00am Nov 19, 2008 7:00am
Quoting i.shawish
I AM LOOSING UNTILL NOW 650$ ON 0.4LOT AND STILL NOT CLOSING....IS THERE ANY HOPE TO REDUSE THIS LOSS???OR I SHOULD CLOSE THEM AND WAIT FOR A GOOD PLACE TO ENTER???!!! OR TO AMKE HEDGE,BUT I HATE IT, OR TO STOP FOREX AND FOCUS ON MY WORK AS TELECOME ENGINEER???!!!! GIVE ME THE ADVICE PLEASE....
It is impossible to say really. To some on here $650 may not even be one pip.
It depends on how much margin you have left, can you survive if it goes up another 100 pips? 400 pips? 800 pips?

From the sounds of it you probably should have bailed on the trade already.

It will go down eventually, the long term trend is still down, this up move is a retracement in my opinion but technically it could still go up a long ways from here (possibly).

It sounds as if you have not been practicing good money management skills, and that will kill your account faster than being wrong on a few trades.

Only you can decide what is right for you.

G10
Enlightened.
  • #99,545
  • Nov 19, 2008 7:01am Nov 19, 2008 7:01am
Quoting nAVIN2007
hang tight .....we are right at the top of the range....if it goes down this is where it will happen..otherwise its a breakout...u have to give it this chance at least

i will post a chart so u can see what the hell i am talking about
THANKS BROTHER...I WILL DO...BUT I AM SEEKING FOR A POINT TO ADD SHORTS FROM TO REDUCE THIS LOSS...I THINK IT IS RANGING BUT IF IT GOES UP MAYBE WE WILL NOT GO DOWN BECAUSE USA IS NEAR TO THE LAST CHANCE TO BECOME BETTER IN ECONOMY, THIS IS WHEN THEY CUT THE RATE FOR THE LAST TIME!!!
what you get in the wind goes through the storms
  • #99,546
  • Nov 19, 2008 7:01am Nov 19, 2008 7:01am
Quoting nAVIN2007
hang tight .....we are right at the top of the range....if it goes down this is where it will happen..otherwise its a breakout...u have to give it this chance at least

i will post a chart so u can see what the hell i am talking about
Thanks for the post. This is what I see as well and is very helpful information for those seriously looking to understand what is happening in the market.

PT
Zone Breakout Method
  • #99,547
  • Nov 19, 2008 7:02am Nov 19, 2008 7:02am
Quoting PowerTrader
Here is a look at the current 4hr chart....
Thats how im see it too thanx for the post
  • #99,548
  • Nov 19, 2008 7:03am Nov 19, 2008 7:03am
[quote=CitiTrade;2360928]
Quoting micho
hahahahahahahahahahah 29 pips hahahahahahah thats really funny[/quot

pssst.. hey, maybe if you spend more time on your trades than on posting here, you wouldn't have lost your large (LOL) fortune of 5K last August when the "crush" happened. And by the way, it is called a crash, not a "crush".
dey macha..stay koool la maccha..diz forum is a place for us to share our thought..positive n negative..some say its goin up..some say down..and diz is what we call trading..
  • #99,549
  • Nov 19, 2008 7:05am Nov 19, 2008 7:05am
Quoting i.shawish
THANKS BROTHER...I WILL DO...BUT I AM SEEKING FOR A POINT TO ADD SHORTS FROM TO REDUCE THIS LOSS...I THINK IT IS RANGING BUT IF IT GOES UP MAYBE WE WILL NOT GO DOWN BECAUSE USA IS NEAR TO THE LAST CHANCE TO BECOME BETTER IN ECONOMY, THIS IS WHEN THEY CUT THE RATE FOR THE LAST TIME!!!
Im sure youve heard this befor ebut just in case If your new and this is your first account, REDUCE your positions drastically in future. Especially in current climate your 10k can be wiped out pretty quickly.
  • #99,550
  • Nov 19, 2008 7:06am Nov 19, 2008 7:06am
Quoting PowerTrader
Here is a look at the current 4hr chart. Forgive me because I have 3 sets of fibs on here but it seems to be following the last set which is pulled from the last dominant move from 1.6668 or there abouts. Notice how we met resistance from the 23.6 but challenging it again. This area and trend line are very important for the short term. If we are able to place a candle above this trend line we will probably find our way to the 38.2 at 1.5360. Now this is a big if but it is what you should be looking for or a break of the lower trend and it will probably...
ITS THE SAME AS MY TREND GRAPH...BUT IT LOOKS LIKE WANT TO BREAKE IT...
what you get in the wind goes through the storms
  • #99,551
  • Nov 19, 2008 7:06am Nov 19, 2008 7:06am
Quoting CitiTrade

pssst.. hey, maybe if you spend more time on your trades than on posting here, you wouldn't have lost your large (LOL) fortune of 5K last August when the "crush" happened. And by the way, it is called a crash, not a "crush".
His loss is not because he is a bad trader, but because he is honest.

We all non-native speakers can make some mistakes, so you would also if you spoke another language.
  • #99,552
  • Nov 19, 2008 7:07am Nov 19, 2008 7:07am
i am back.Oh still no down.I am still shorting this.Let us see us session what will do.
  • #99,553
  • Nov 19, 2008 7:07am Nov 19, 2008 7:07am
Quoting spintrader
misplaced frustration with myself! interesting, I'm quite content actually, been doing pretty well the past couple of months.
LOL... not sure about the rest, but let me speak for myself, yes I am officially impressed with the fact you were doing well the past couple of months! In my book, this should earn you at least another 1 v on your wisdom score!... LOL. Good luck to you too, and I wish you a good two more months... what the heck, make it good three more months
  • #99,554
  • Nov 19, 2008 7:09am Nov 19, 2008 7:09am
Quoting i.shawish
THANKS BROTHER...I WILL DO...BUT I AM SEEKING FOR A POINT TO ADD SHORTS FROM TO REDUCE THIS LOSS...I THINK IT IS RANGING BUT IF IT GOES UP MAYBE WE WILL NOT GO DOWN BECAUSE USA IS NEAR TO THE LAST CHANCE TO BECOME BETTER IN ECONOMY, THIS IS WHEN THEY CUT THE RATE FOR THE LAST TIME!!!
If you have done good analysis, have a well thought out trade and are confident with it, then stick with the position.

If on the other hand, you realised you missed something important during your analysis, then look to scale out of the trade on retracements. Accept the loss but try to minimise it.

Hope this helps!
If it's too good to be true, it probably is.
  • #99,555
  • Nov 19, 2008 7:10am Nov 19, 2008 7:10am
Quoting vorschlag
His loss is not because he is a bad trader, but because he is honest.

We all non-native speakers can make some mistakes, so you would also if you spoke another language.
agree..
  • #99,556
  • Nov 19, 2008 7:10am Nov 19, 2008 7:10am
Quoting i.shawish
THANKS BROTHER...I WILL DO...BUT I AM SEEKING FOR A POINT TO ADD SHORTS FROM TO REDUCE THIS LOSS...I THINK IT IS RANGING BUT IF IT GOES UP MAYBE WE WILL NOT GO DOWN BECAUSE USA IS NEAR TO THE LAST CHANCE TO BECOME BETTER IN ECONOMY, THIS IS WHEN THEY CUT THE RATE FOR THE LAST TIME!!!
to me this can go upto 1.55 there confluence with the 61.8 fib..if it exceeds this then its a massive retrace.....price now will likely go to the lower support and head higher....assuming news is good breakout to the top

bullish outside bar also to confirm this from lower support..

be very carefull about adding shorts...u gotta pick a descent high
i wish u good luck on this trade
  • #99,557
  • Nov 19, 2008 7:11am Nov 19, 2008 7:11am
Hey Guys, let's talk about Cable here ok
  • #99,558
  • Nov 19, 2008 7:16am Nov 19, 2008 7:16am
Quoting vorschlag
We all non-native speakers can make some mistakes, so you would also if you spoke another language.
How do you know that I don't?

Anyway, 'nough of this BS. Let's go back to cable please. Thank you Abuawad.
  • #99,559
  • Nov 19, 2008 7:16am Nov 19, 2008 7:16am
Quoting nAVIN2007
to me this can go upto 1.55 there confluence with the 61.8 fib..if it exceeds this then its a massive retrace.....price now will likely go to the lower support and head higher....assuming news is good breakout to the top

bullish outside bar also to confirm this from lower support..

be very carefull about adding shorts...u gotta pick a descent high
i wish u good luck on this trade
bro, no it wont go that far... it needs to retrace before going there... it could go to 1.51 then retrace then to 1.5146 then retrace to 1.49xx then to 1.52xx the strongest area and retrace big time to 1.4xx ... before going up

daily rsi <50
4h <50 still

we are below major fibos
we will not go up quickly... its gonna be so slow above 1.52xx
When life gives you lemons, make lemonade
  • #99,560
  • Nov 19, 2008 7:17am Nov 19, 2008 7:17am
Quoting PipLand
Im sure youve heard this befor ebut just in case If your new and this is your first account, REDUCE your positions drastically in future. Especially in current climate your 10k can be wiped out pretty quickly.
IN THE LAST TIME IT RETRACE FROM 1.57X TO 1.65X MY ACCOUNT WAS LOOSING 3800$...BUT MY ACCOUNT MANAGEMENT DEPENDS ON EVERY THING OR NOTHING, I STILL IN MY POSITION UNTILL I SAW THE PROFIT I GET CANCELED THEN I DECIDE TO STOP OR SOMTHING ELSE...I GOT 5000$ PROFIT IN THE LAST MONTH SO I STILL HAVE 4400$!!!!
what you get in the wind goes through the storms
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