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Cable Update (GBPUSD)

  • #99,741
  • Nov 19, 2008 1:40pm Nov 19, 2008 1:40pm
Hey folks, came back from a short vaca, glad to see the market somewhat consolidating - not as much craziness compared to 1-2 weeks ago. Anywhoo, i see sterling touching a major hr support line right now, h&s is pretty much done with its formation on 15m, just went long looking for TP of 1.5100.
  • #99,742
  • Nov 19, 2008 1:41pm Nov 19, 2008 1:41pm
Quoting nAVIN2007
im in and out quick 32 pips today..
nice man, hope you get your confidence back up
When life gives you lemons, make lemonade
  • #99,743
  • Nov 19, 2008 1:43pm Nov 19, 2008 1:43pm
Quoting Kyen
Hey folks, came back from a short vaca, glad to see the market somewhat consolidating - not as much craziness compared to 1-2 weeks ago. Anywhoo, i see sterling touching a major hr support line right now, h&s is pretty much done with its formation on 15m, just went long looking for TP of 1.5100.
hey man welcome back! be careful of the longs with a nice stop loss
When life gives you lemons, make lemonade
  • #99,744
  • Nov 19, 2008 1:45pm Nov 19, 2008 1:45pm
Quoting allserene
Too lazy to look up reason for mega spike - what was it ?

Did they strike oil and gold in central London ?
hey bird how are you today?
When life gives you lemons, make lemonade
  • #99,745
  • Nov 19, 2008 1:46pm Nov 19, 2008 1:46pm
Hi All....
Ok...I make some and then give it all back! how come I can't keep it! Down about 4.5k how can one loose in today's beautiful moments...it was practicaly giving us the pips! BUT i got in and out ...made 20 pips...(recovered a little of the "down" money)....but gave away again....
Help !;-(
  • #99,746
  • Nov 19, 2008 1:47pm Nov 19, 2008 1:47pm
Quoting micho
im starting to consider not chatting on this forum anymore... by the end of the day i find myself in the right direction after hearing so many noises here and there

ah...
We talked about this yesterday. Don't look at the forum before entering your trades bro! Trade what YOU see!

Prime example, this morning during the opening of the US Session, everyone is screaming long, long, long, long...and I was building my shorts from 5175.
Just digging in the trenches like everyone else!
  • #99,747
  • Nov 19, 2008 1:48pm Nov 19, 2008 1:48pm
Quoting micho
hey man welcome back! be careful of the longs with a nice stop loss
Got that right, bears are definately dancing around today, but you know what? I'm switching my style a little bit, and going to start pricing in some long term positions, all to short USD. Remember my word on this Micho.... when the dust clears, and world investors start looking in the mirror rather than the window, they'll realize the extent of how much BS they've been putting up. Looking at the market from a more general perspective, I'de have to say that the fat lady is singing and once her que is done, the USD will break past rock bottom faster than its recent ascent to the clouds. Enjoy this ride while it lasts, but stay prudent and get ready for a big turnaround very soon...

Things to look out for:

- Posibility of a default in COMEX at the end of this fiscal year, when demand for actual delivery comes into play
- Propup of commodities --play on fire tag sales
-Gold, gold, and more gold.
  • #99,748
  • Nov 19, 2008 1:48pm Nov 19, 2008 1:48pm
Quoting micho
nice man, hope you get your confidence back up
i realise i lose when i try go for huge number of pips....in and out...scalping i seem to be ok...maybe cause im look at 1 hr chart and except 100's of pips

if u want 100 pips gotta look at dailly or 4hr at least

i begin to realise market consolidate 80% of time and 20% rally so in and out is the best way
  • #99,749
  • Nov 19, 2008 1:49pm Nov 19, 2008 1:49pm
Quoting Kyen
Hey folks, came back from a short vaca, glad to see the market somewhat consolidating - not as much craziness compared to 1-2 weeks ago. Anywhoo, i see sterling touching a major hr support line right now, h&s is pretty much done with its formation on 15m, just went long looking for TP of 1.5100.
Looks like that long is working out quite well so far. Set stop +5 and will be waiting for further confirmation of a upbreak coming to the end of NY session.
  • #99,750
  • Nov 19, 2008 1:53pm Nov 19, 2008 1:53pm
Quoting micho
im starting to consider not chatting on this forum anymore... by the end of the day i find myself in the right direction after hearing so many noises here and there

ah...

Trade the DOW for now.. not the forum.
USD Est Non Mortuus
  • #99,751
  • Nov 19, 2008 2:09pm Nov 19, 2008 2:09pm
Quoting micho
hey bird how are you today?
Got a cold and I cant figure any of the markets including forex - shouldnt complain !

haha it will snow in the stevens pass tomorrow and i will be cut off for the winter - so I can REALLY concentrate then
  • #99,752
  • Nov 19, 2008 2:12pm Nov 19, 2008 2:12pm
Quoting LuckyLurker
Trade the DOW for now.. not the forum.
Lurker I am gritting my teeth and buying stuff like RIO Tinto RTP and BP

High volatility stuff

I started to do forex as well because according to the book, 'the trends are quite smooth and go on for a long time'

What ! not now they dont - its a rocking horse on mushrooms !
  • #99,753
  • Nov 19, 2008 2:18pm Nov 19, 2008 2:18pm
Quoting allserene
Lurker I am gritting my teeth and buying stuff like RIO Tinto RTP and BP

High volatility stuff

I started to do forex as well because according to the book, 'the trends are quite smooth and go on for a long time'

What ! not now they dont - its a rocking horse on mushrooms !
all i know is dont long till there a trend change...it just isnt safe....shorting is the best way...just gotta sus out where to do it from
  • #99,754
  • Nov 19, 2008 2:24pm Nov 19, 2008 2:24pm
Quoting nAVIN2007
all i know is dont long till there a trend change...it just isnt safe....shorting is the best way...just gotta sus out where to do it from
Bro, longs are safe when the time is right and vice versa. Don't block yourself as a oneway trader. The market moves up and down.
Just digging in the trenches like everyone else!
  • #99,755
  • Nov 19, 2008 2:26pm Nov 19, 2008 2:26pm
When life gives you lemons, make lemonade
  • #99,756
  • Nov 19, 2008 2:34pm Nov 19, 2008 2:34pm
eo can you please tell me what candle patterns do you use for entry the most? and which time frame you use the most for the pattern?
When life gives you lemons, make lemonade
  • #99,757
  • Nov 19, 2008 2:40pm Nov 19, 2008 2:40pm
Quoting allserene
Lurker I am gritting my teeth and buying stuff like RIO Tinto RTP and BP

High volatility stuff

I started to do forex as well because according to the book, 'the trends are quite smooth and go on for a long time'

What ! not now they dont - its a rocking horse on mushrooms !
Haha good stuff!
USD Est Non Mortuus
  • #99,758
  • Nov 19, 2008 2:41pm Nov 19, 2008 2:41pm
haha fed is buying stocks like a cheap whore.. i dont think they can keep it up...... crash #$%^&*
USD Est Non Mortuus
  • #99,759
  • Nov 19, 2008 2:43pm Nov 19, 2008 2:43pm
Quoting micho
eo can you please tell me what candle patterns do you use for entry the most? and which time frame you use the most for the pattern?
WOW bro! That's a hard and long question. I not only look at candle patterns, but I also look at how she's acting to the MA's/EMA's I have overlayed on my charts. I have different breakout strategies I use as well. Most of how I trade can not be coded to a program. Alot of it is feel for the market and which session is primary at the time. I'll help you all I can though. I'll be on during the end of the Asian Session and opening of London. Tonight is my guys night out, so I won't be on once the US Session closes and right now I'm taking care of BS at the office currently.
Just digging in the trenches like everyone else!
  • #99,760
  • Nov 19, 2008 2:45pm Nov 19, 2008 2:45pm
Short 1.4975 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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