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Cable Update (GBPUSD)

  • #105,481
  • Dec 9, 2008 10:21am Dec 9, 2008 10:21am
Quoting notme32
Start building my Long
  • #105,482
  • Dec 9, 2008 10:21am Dec 9, 2008 10:21am
Quoting Infinity
I don't know about your platform bro but mine was pretty clear cut. Trendlines should not be drawn as exact as you are trying to do otherwise you will get caught out. It should be used as a guage or estimate of where support is, therefore, you have to be open minded and draw different scenarios. I sometimes have 3 or 4 different trendlines in the same area as different possibilities of support/resistance.

I posted this earlier before the upmove started and my line was already there....
No problemo

But i will stay with way they teached me.Any way still short from 4795.And i think this will be last my trade for today
  • #105,483
  • Dec 9, 2008 10:22am Dec 9, 2008 10:22am
Quoting "expert"
The way they was teaching me i should connect lows.You didnt do that and you make your TL the way you like for you trade.

I wasn't teached to do that way.Connect lows not above them.That is what they told me
Yup, I do it the way I see that works based on my experience. If I stuck to everything I learned at university to the book, I would probably be very poor right now. You have to be flexible and know how to apply your knowledge. I am not telling you how to trade or to draw your trendlines, I am just telling you what works for me several times over...
Do your thing bro, I will continue to do mine...
Patience + Discipline - Greed = Success
  • #105,484
  • Edited 10:40am Dec 9, 2008 10:23am | Edited 10:40am
Quoting "expert"
Ok heare is my 4 hr .

End on your 1 hr that suport line was touched by price.On my 1 hr it isn't.&0 pips space between.On my platform it just isnt the same as yours.I dont know about others.Would like to see theare's 1 hr chart with that suport line.

Theare could be some diffrence but this is little to much in my opinion.

Wheare is Micho today?
Either one is fine. I went short but just for scalp, +20 pips not so bad for me ! And waiting for again because the uptrend still strong ! I don't wanna long at the top !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,485
  • Dec 9, 2008 10:23am Dec 9, 2008 10:23am
Quoting Chris_35
Why you not scalp 25 pips at a time then
that's not my style... hehe..
  • #105,486
  • Dec 9, 2008 10:29am Dec 9, 2008 10:29am
Quoting steelhead
I know I talk about this all the time but we have a new one everyday that thinks he should frequent this forum for trading advise.

Bro dont frequent this forum stay away from this forum when you are learning. To much clutter focus on your charts study and learn for yourself. Unless you are an experienced trader and can shift through all the non sense on these forums the majority of your time should not be spent here.

I know its a broken record but its the truth. I think most traders who folks look up to in here would agree with my comments....

Or as an alternative; you just block some of the people you think that are not serious about trading on your thread retrieval; if you are a true soul in watching the markets; it's not difficult to sift those who want to trade, learn from those just being here for kicks.
~*~You are only one trade away from humility~*~
  • #105,487
  • Dec 9, 2008 10:30am Dec 9, 2008 10:30am
Quoting Infinity
Yup, I do it the way I see that works based on my experience. If I stuck to everything I learned at university to the book, I would probably be very poor right now. You have to be flexible and know how to apply your knowledge. I am not telling you how to trade or to draw your trendlines, I am just telling you what works for me several times over...
Do your thing bro, I will continue to do mine...

VERY GOOD ADVICE, one should read and understand what you said
  • #105,488
  • Dec 9, 2008 10:30am Dec 9, 2008 10:30am
Quoting windrush
I must admit I do not come to this forum as much as I should,,,,I was reading about GBPUSD, and references was made many times about GBPUSD at prices in the 1.8900 + area. Could someone tell me when was the CABLE at such levels, I must be missing something.............................(((quote(( Next resistence at the 1.8977 level the previous weeks pivot point and 1.8997 the daily R1. Any thoughts on this and others is appreciated. ))unquote))))......................................my current GBPUSD chart is showing a price of 1.4773, I am worried...
Take your time bro! Learn the thing properly and analyse for yourself and take trades based on your own decisions. Do not look to the forum for trade calls. If you see a system that you like that someone has and you would like to learn it, you are free to ask questions but don't follow people blindly on here, no matter how good they seem to be. You are better off in the long run if you learn yourself and make decisions yourself. Start at babypips.com...
Patience + Discipline - Greed = Success
  • #105,489
  • Dec 9, 2008 10:32am Dec 9, 2008 10:32am
Quoting AmeriTrini
VERY GOOD ADVICE, one should read and understand what you said
Thanks Jamie...
Patience + Discipline - Greed = Success
  • #105,490
  • Dec 9, 2008 10:34am Dec 9, 2008 10:34am
Quoting Infinity
impossible eh?
Look at the h4 chart that I just posted and you will see the same support line... Also, my experience has taught me that price does not always go to the lowest possible point that you would draw the tl. I drew my line on the h1 so that it touched all the previous lows in that area..


  • #105,491
  • Dec 9, 2008 10:37am Dec 9, 2008 10:37am
Quoting Infinity
Take your time bro! Learn the thing properly and analyse for yourself and take trades based on your own decisions. Do not look to the forum for trade calls. If you see a system that you like that someone has and you would like to learn it, you are free to ask questions but don't follow people blindly on here, no matter how good they seem to be. You are better off in the long run if you learn yourself and make decisions yourself. Start at babypips.com...
Good advice, btw your chart is perfectly, very helpfull for me, at least I wasn't tempted to short at the bottom, where many people shout to short.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,492
  • Dec 9, 2008 10:38am Dec 9, 2008 10:38am
Quoting lexazver
went long at 63 stop at 53 lets see now
worked out well as it seems closed half for +35 stop for 2nd half is at -5.

Very classic pound set up it goes to test new round level (1.48 in this case) and fails ( may go above it slightly no more than 10 pips) then goes back to 50-60 level ( 1.4760 in this case) and then returns to test that last high, sometimes it breaks it sometimes it doesnt. always good to take partial profits at that high.
  • #105,493
  • Dec 9, 2008 10:40am Dec 9, 2008 10:40am
Quoting AmeriTrini
VERY GOOD ADVICE, one should read and understand what you said
  • #105,494
  • Dec 9, 2008 10:41am Dec 9, 2008 10:41am
Quoting moewenger
that's not my style... hehe..

Each to their own
  • #105,495
  • Dec 9, 2008 10:41am Dec 9, 2008 10:41am
Quoting Infinity
Take your time bro! Learn the thing properly and analyse for yourself and take trades based on your own decisions. Do not look to the forum for trade calls. If you see a system that you like that someone has and you would like to learn it, you are free to ask questions but don't follow people blindly on here, no matter how good they seem to be. You are better off in the long run if you learn yourself and make decisions yourself. Start at babypips.com...
Yeah totally true if you copy trades on here you would never know when a trader changes sentiment and closes the trade or adjusts SL and TP levels.

A lot of trades posted on here are very short term and the trade could turn and bite you before you realise
  • #105,496
  • Dec 9, 2008 10:43am Dec 9, 2008 10:43am
Quoting Infinity
Yup, I do it the way I see that works based on my experience. If I stuck to everything I learned at university to the book, I would probably be very poor right now. You have to be flexible and know how to apply your knowledge. I am not telling you how to trade or to draw your trendlines, I am just telling you what works for me several times over...
Do your thing bro, I will continue to do mine...
Ok, I see what you are getting at regarding the trend line you have drawn; and in fact, I have seen a lot of people NOT drawing the trend lines off the highs and lows. And that's what I do with the pitchforks as well. Thanks for the clarifications. Have a good one

J.
~*~You are only one trade away from humility~*~
  • #105,497
  • Dec 9, 2008 10:50am Dec 9, 2008 10:50am
Quoting gagakrimba
Long @ 1.4780
Your 1st long is 1.4700. Greedy bastard !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,498
  • Dec 9, 2008 11:02am Dec 9, 2008 11:02am
hey guys whos short then?? im targeting 1.4563, gotta get past 4663 i know but achievable i reckon
  • #105,499
  • Dec 9, 2008 11:04am Dec 9, 2008 11:04am
has anyone called up the inverted shampoo on m15 if not what are your thoughts
  • #105,500
  • Dec 9, 2008 11:06am Dec 9, 2008 11:06am
I am applying my highly scientific - 'go contra after big moves system' again today

When you think about it, nobody can make a cent unless they take their profit, so any big move is accompanied by a retrace - small or large - it has to happen otherwise its all just paper profits

I have made 80% winning trades in the last 3 weeks using no other indicators at all

I guess this works in a range trading fear market - but it cant last and a big sustained move would break me without s/l's

Let the fear continue
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