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Cable Update (GBPUSD)

  • #108,461
  • Dec 23, 2008 3:42pm Dec 23, 2008 3:42pm
Quoting therealist
I just locked in plus 1. At least no red pips this afternoon for me. This is the last until the evening.
Cool!
Just digging in the trenches like everyone else!
  • #108,462
  • Dec 23, 2008 3:43pm Dec 23, 2008 3:43pm
Quoting Turtle
Cool...nice trade...looks like she might head back to 4700 area, we shall see!

I took all of mine of this time, because like you said the time of the day and volume. I figured she might get stuck in the mud.

No pressure, because I like the afternoon green pips that I got in 15 minutes!

HOLLA
Green pips in 15m! Gotta love it! Good job brother!
Just digging in the trenches like everyone else!
  • #108,463
  • Dec 23, 2008 3:48pm Dec 23, 2008 3:48pm
Quoting eohater
Cool!
No problem, no you are right though. Not a good trade setup for me. I'm still working on it. I saw earlier where you guys were long and though I respected it, thought it would hold the the 7500 level, so I figured -10 was a suitable risk for my original target of 4705ish. Then I dropped my SL and held on instead of getting out when I thought it would hold the 10ema, which fortunately it did around 4790. Usually these trades do burn me though, so I should have gotten out earlier for a small loss, then followed it back down here. So far though, with 2 out of 3 trades this week, all green, this is my second near loss. Last night, had one that was -30, that fell into place for +25, which was the original plan. Oh, just got stopped for plus one. Oh well, back to work, lunch is almost over.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #108,464
  • Dec 23, 2008 3:49pm Dec 23, 2008 3:49pm
Quoting eohater
Green pips in 15m! Gotta love it! Good job brother!
Good job on your trade too....

Gotta love green pips in 15m, that means you got a good entry!!

HOLLA
  • #108,465
  • Dec 23, 2008 3:55pm Dec 23, 2008 3:55pm
Quoting Turtle
Good job on your trade too....

Gotta love green pips in 15m, that means you got a good entry!!

HOLLA
I can't believe she's still falling this time of day. I didn't expect to be in this type of a position. I'm moving my SL on my remaining trade to +25 and gonna let her ride. I really don't expect to get more than 25 on it, but who knows. She might be a 1.45 in the morning. I'd really like to short her again with some more lots though.
Just digging in the trenches like everyone else!
  • #108,466
  • Dec 23, 2008 3:58pm Dec 23, 2008 3:58pm
I think we might get a push & reach 1.4600
  • #108,467
  • Dec 23, 2008 4:04pm Dec 23, 2008 4:04pm
Quoting eohater
I can't believe she's still falling this time of day. I didn't expect to be in this type of a position. I'm moving my SL on my remaining trade to +25 and gonna let her ride. I really don't expect to get more than 25 on it, but who knows. She might be a 1.45 in the morning. I'd really like to short her again with some more lots though.
I know bro.......I thought 4740 would be the limit, but oh well...next train please!

Would love to see that 1h 62ema.......

HOLLA
  • #108,468
  • Dec 23, 2008 4:06pm Dec 23, 2008 4:06pm
Quoting ferndog
I think we might get a push & reach 1.4600
I move SL + 26 pips, TP 1.4530 and now I don't care where she goes, time for go bed, early morning at my place ! Bye all !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #108,469
  • Dec 23, 2008 4:09pm Dec 23, 2008 4:09pm
Great job everyone! I'd love to see it hit 4705 this afternoon, even though I'm not in a trade any more, just to know that I made a good call albeit a bit early. Looks like the push down is stalling though. I'm just happy to be out of my trade without a loss at this point. 4740 area was a real blessing for me.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #108,470
  • Dec 23, 2008 4:10pm Dec 23, 2008 4:10pm
Quoting manize
I move SL + 26 pips, TP 1.4530 and now I don't care where she goes, time for go bed, early morning at my place ! Bye all !
Nice trade...........

Catch some zzzzz's.......

HOLLA
  • #108,471
  • Dec 23, 2008 4:15pm Dec 23, 2008 4:15pm
Quoting therealist
Great job everyone! I'd love to see it hit 4705 this afternoon, even though I'm not in a trade any more, just to know that I made a good call albeit a bit early. Looks like the push down is stalling though. I'm just happy to be out of my trade without a loss at this point. 4740 area was a real blessing for me.
This low level seems to be a move made by the ghosts of the thin markets rather than a bigger, long term move.
But I'm happy you're making money...
  • #108,472
  • Dec 23, 2008 4:47pm Dec 23, 2008 4:47pm
Here's a chart for everyone to digest.

Trade well!
EO
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 144 KB
Just digging in the trenches like everyone else!
  • #108,473
  • Dec 23, 2008 4:52pm Dec 23, 2008 4:52pm
Quoting eohater
Here's a chart for everyone to digest.

Trade well!
EO
That chart looks like it has the potential for 3 rails and a tail.
Hi, my name is Barry and you can keep your doctor...
  • #108,474
  • Dec 23, 2008 4:58pm Dec 23, 2008 4:58pm
Quoting cisco
That chart looks like it has the potential for 3 rails and a tail.
For the newbs amongst us(like myself) what does that mean? I see the chart and think bearish, but I'm not sure what you mean.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #108,475
  • Dec 23, 2008 5:07pm Dec 23, 2008 5:07pm
Quoting therealist
For the newbs amongst us(like myself) what does that mean? I see the chart and think bearish, but I'm not sure what you mean.
A slang trading term meaning the price touches the upper trend line 3 times (3 rails) followed by a break of the lower trend line heading south. Looking like a tail. In these thin markets, though, anything's possible. HTH
Hi, my name is Barry and you can keep your doctor...
  • #108,476
  • Dec 23, 2008 5:22pm Dec 23, 2008 5:22pm
Quoting eohater
Here's a chart for everyone to digest.

Trade well!
EO
I see long....but I also see short........

I'm ready for her either way!!! :nerd:

HOLLA
  • #108,477
  • Dec 23, 2008 5:35pm Dec 23, 2008 5:35pm
Cisco, thanks for the explanation. 3 rails and a tail, sounds like valid resistance by looking at the chart EO posted. I might go short later if I haven't missed the boat or long if support holds. I'll have to decide later. I'm not trading this afternoon, only playing on this board and doing my actual work too.

Turtle, it's always long and short though right . That's one thing I'm taking from EO, learning to use those MA's to look for opportunities in both directions. So far I've been doing better lately, but as my last two trades have reminded me, still need to work on entries more, and exits too. At least I'm working with what was once the market's money now. I've chalked my previous losses as being gone forever and with the new deposit(although quite small), I've started anew. So I'm 3 for 3 with plus 40 pips this week. My goal is to work towards 100 pips a day when I trade, excluding Sundays and Fridays.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #108,478
  • Dec 23, 2008 5:56pm Dec 23, 2008 5:56pm
Quoting therealist
Cisco, thanks for the explanation. 3 rails and a tail, sounds like valid resistance by looking at the chart EO posted. I might go short later if I haven't missed the boat or long if support holds. I'll have to decide later. I'm not trading this afternoon, only playing on this board and doing my actual work too.

Turtle, it's always long and short though right . That's one thing I'm taking from EO, learning to use those MA's to look for opportunities in both directions. So far I've been doing better lately, but as my last two trades have...
That's right...it could go either way! Learning from EO and Infinity has help me see enteries both long and short! :nerd:

Great that your setting goals. I'm doing my year end review and setting new goals for next year in all areas of my life!

HOLLA
  • #108,479
  • Dec 23, 2008 6:37pm Dec 23, 2008 6:37pm
Quoting cisco
That chart looks like it has the potential for 3 rails and a tail.
That was my thought as well!
Just digging in the trenches like everyone else!
  • #108,480
  • Edited 6:56pm Dec 23, 2008 6:45pm | Edited 6:56pm
You know I was considering taking a short if it holds the 4790 area again, but Oanda has a freaking 13 pip spread right now. That pisses me off! I really don't want to mess with that big of a spread. By tonight(my time) it very well could be too late. I'm thinking that will probably be my last trade until next week sometime. Well if it doesn't work out, it doesn't. There will be other trades later, there always are.

edit: I didn't mean 4790, actually if it holds the resistance line, which I haven't drawn on my own and won't be able to until I get home. So would be less than 4790, at whatever the line of of resistance is at the next time it hits it.
therealisttruest (FF wouldn't let me put my full ID because of length)
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