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Cable Update (GBPUSD)

  • #110,581
  • Jan 9, 2009 1:22pm Jan 9, 2009 1:22pm
Quoting eohater
Welcome to the forum!...

Thanks for the answer and the welcome, certainly clears up a bit of confusion. Can I ask about terminology? What is PA short for, and what is +2 short for? It took me a couple hours to figure out TP (although I got the gist of what it meant, just not what the abbreviation stood for), as I wasn't able to post so I couldn't ask directly.

Thanks in advance.
  • #110,582
  • Jan 9, 2009 1:28pm Jan 9, 2009 1:28pm
Quoting daffy
Thanks for the answer and the welcome, certainly clears up a bit of confusion. Can I ask about terminology? What is PA short for, and what is +2 short for? It took me a couple hours to figure out TP (although I got the gist of what it meant, just not what the abbreviation stood for), as I wasn't able to post so I couldn't ask directly.

Thanks in advance.
PA = Price Action
SL = Stop Loss, the +2 is that my SL is 2 pips higher than my entry, which looks like it's going to get hit btw (got hit while I was typing )
TP = Take profit
Just digging in the trenches like everyone else!
  • #110,583
  • Jan 9, 2009 1:30pm Jan 9, 2009 1:30pm
Quoting eohater
It's played out nicely. I'm in my final position for the day. I took it long again at 5140 and willing to add at 5100. Targeting the 15m 30/50 area
SL was hit at +2. That's the second time today I've got +2 from this level. The first time, I turned around and went long after the candles closed and made nice pippage.
Just digging in the trenches like everyone else!
  • #110,584
  • Jan 9, 2009 1:30pm Jan 9, 2009 1:30pm
Quoting eohater
I like your style brother.... We've rode together all day!

I like the maybe! I don't blame you for the TP at 15m 10. The 200 sma is there as well. I've moved SL to +2 and letting her ride now. I'll go again if she goes back down.

Excellent trading today yourself bro!
One for all, all for one bro!!!
Patience + Discipline - Greed = Success
  • #110,585
  • Jan 9, 2009 1:30pm Jan 9, 2009 1:30pm
Quoting eohater
PA = Price Action
SL = Stop Loss, the +2 is that my SL is 2 pips higher than my entry, which looks like it's going to get hit btw (got hit while I was typing )
TP = Take profit
Sorry bout that

The +2 makes sense now - it would cover the margin on the trade and give you a free/breakeven trade.

Cheers!
  • #110,586
  • Jan 9, 2009 1:31pm Jan 9, 2009 1:31pm
Quoting daffy
Thanks for the answer and the welcome, certainly clears up a bit of confusion. Can I ask about terminology? What is PA short for, and what is +2 short for? It took me a couple hours to figure out TP (although I got the gist of what it meant, just not what the abbreviation stood for), as I wasn't able to post so I couldn't ask directly.

Thanks in advance.
Hi there daffy..

+2 is the stop loss position. Everyone on here will say always use a s/l. when your trade has moved upto a positive pip position you can move your s/l up then if it all goes pear shaped your not down in your account. I have learned this the hard way as have most people I dare say. but if you listen to the diffrent trading styles on here you will soon pick up a method that suits you.

Always leaning..

Si
  • #110,587
  • Jan 9, 2009 1:35pm Jan 9, 2009 1:35pm
Quoting Infinity
One for all, all for one bro!!!
Nice trading to all who made pips today!!!

HOLLA
  • #110,588
  • Jan 9, 2009 1:36pm Jan 9, 2009 1:36pm
its a mini H&s unfolding on 15 min.it just came back and tested the neckline and went down.lets see if it sticks to the script now....
  • #110,589
  • Jan 9, 2009 1:36pm Jan 9, 2009 1:36pm
One more push she'll break 1.5100
  • #110,590
  • Jan 9, 2009 1:40pm Jan 9, 2009 1:40pm
Quoting Turtle
Nice trading to all who made pips today!!!

HOLLA
For sure bro!!...

I hope you had a good day yourself my friend...
Patience + Discipline - Greed = Success
  • #110,591
  • Jan 9, 2009 1:41pm Jan 9, 2009 1:41pm
Quoting daffy
Sorry bout that

The +2 makes sense now - it would cover the margin on the trade and give you a free/breakeven trade.

Cheers!
Don't be sorry! It's trading. I covered my commission on the trade an put a little dosh in my pocket. It's all good!

I'm more of an intraday trader btw. I trade the movements that she gives throughout the day. I've cleared today over 400 pips and we're only 74 pips from the opening price.
Just digging in the trenches like everyone else!
  • #110,592
  • Jan 9, 2009 1:46pm Jan 9, 2009 1:46pm
Quoting Atondra
One more push she'll break 1.5100
You really want this to break 5100. I don't see it today my friend. I could be wrong, but I just don't see it.
Just digging in the trenches like everyone else!
  • #110,593
  • Jan 9, 2009 1:48pm Jan 9, 2009 1:48pm
Quoting eohater
You really want this to break 5100. I don't see it today my friend. I could be wrong, but I just don't see it.
I guess so bro. I'm holding to my last short and thinking of entering long there
  • #110,594
  • Jan 9, 2009 1:48pm Jan 9, 2009 1:48pm
Quoting Infinity
For sure bro!!...

I hope you had a good day yourself my friend...
Yep had a good day........a little rocky but overall it was good.

Going to relax and enjoy the weekend so I can get focus again.

Hope you have a great weekend yourself bro...

HOLLA
  • #110,595
  • Jan 9, 2009 1:49pm Jan 9, 2009 1:49pm
Quoting Infinity
One for all, all for one bro!!!
You know it brother!
Just digging in the trenches like everyone else!
  • #110,596
  • Jan 9, 2009 1:51pm Jan 9, 2009 1:51pm
Quoting Atondra
I guess so bro. I'm holding to my last short and thinking of entering long there
I can understand that. I'm sure your short is covered green. If we see 5100, definately go long brother. My pending Long is still sitting there waiting to take my troups to battle.
Just digging in the trenches like everyone else!
  • #110,597
  • Jan 9, 2009 1:53pm Jan 9, 2009 1:53pm
Quoting eohater
You really want this to break 5100. I don't see it today my friend. I could be wrong, but I just don't see it.
I don't see it happening today either but I really think if we close above the weekly 10sma the downtrend is over for now......

I would like to see a run down to the h4 50ema for a nice buy early next week... but we'll see how it plays...
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 23 KB
Patience + Discipline - Greed = Success
  • #110,598
  • Jan 9, 2009 1:56pm Jan 9, 2009 1:56pm
Quoting Infinity
I don't see it happening today either but I really think if we close above the weekly 10sma the downtrend is over for now......

I would like to see a run down to the h4 50ema for a nice buy early next week... but we'll see how it plays...
What's your price on the weekly 10sma? You know my weekly charts are all messed up.
Just digging in the trenches like everyone else!
  • #110,599
  • Jan 9, 2009 2:02pm Jan 9, 2009 2:02pm
Quoting eohater
What's your price on the weekly 10sma? You know my weekly charts are all messed up.
It's currently at 4963
Patience + Discipline - Greed = Success
  • #110,600
  • Jan 9, 2009 2:03pm Jan 9, 2009 2:03pm
Quoting Infinity
It's currently at 4963
Thanks bro!

BTW: I went long one more time at 5136.
Just digging in the trenches like everyone else!
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