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Cable Update (GBPUSD)

  • #111,041
  • Jan 13, 2009 9:27am Jan 13, 2009 9:27am
Quoting trader2160
yes indeed.Smithers!release the hounds!!!!
Just digging in the trenches like everyone else!
  • #111,042
  • Jan 13, 2009 9:31am Jan 13, 2009 9:31am
Quoting eohater
eggggggs cellent
Probability Professor
  • #111,043
  • Jan 13, 2009 9:36am Jan 13, 2009 9:36am
Not too much excitement rt now for the London cut,lets see.
  • #111,044
  • Jan 13, 2009 9:54am Jan 13, 2009 9:54am
Quoting Galation
I think there is a big problem with people who interpret random noise as signals and trends on small time frames. Randomness is randomness; not every 50 pip movement has a reason behind it; there is a lot of over analysis where people are trying to interpret meaning from mere randomness.
yes and if we over leverage our accounts or over egg our positions then we are forced to set tight s/l's which are bumped in times of low liquidity.
I am convinced the brokers hunt s/l's at these times as i have too many examples of a streak of light whacking my s/l exactly to the pip and then streaking back again

i shorted overnight with no s/l set but at a size i could take the loss.
As it happens i have made a handsome profit

I think i will set small positions with no s/l and let em run

I knew i could swallow say a 300 pip move against me if i had to

In this mkt we need to be able to take 3 or 4 hundred pips on the chin without being wiped out
  • #111,045
  • Jan 13, 2009 9:58am Jan 13, 2009 9:58am
Quoting allserene
yes and if we over leverage our accounts or over egg our positions then we are forced to set tight s/l's which are bumped in times of low liquidity.
I am convinced the brokers hunt s/l's at these times as i have too many examples of a streak of light whacking my s/l exactly to the pip and then streaking back again

i shorted overnight with no s/l set but at a size i could take the loss.
As it happens i have made a handsome profit

I think i will set small positions with no s/l and let em run

I knew i could swallow say a 300 pip move against...
Very true!
Just digging in the trenches like everyone else!
  • #111,046
  • Jan 13, 2009 10:10am Jan 13, 2009 10:10am
there is a hidden bearish divergence on 15min
Attached Image (click to enlarge)
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  • #111,047
  • Jan 13, 2009 10:18am Jan 13, 2009 10:18am
the DOW is stuffed - must be the 4th day of losses and it's just a relentless slide

I dare not even buy GE at 8.35% yield

hum... I think it's 'USD safe currency' time again..

need to get shorts on cable and euro any time there is serious profit taking after this down move

I see 1.26 for euro
  • #111,048
  • Jan 13, 2009 10:22am Jan 13, 2009 10:22am
good luck... i've been looking for decent pullbacks for a bit now... i'll ride it with ya for a bit if we get much of an up move to get in on.

Quoting allserene
the DOW is stuffed - must be the 4th day of losses and it's just a relentless slide

I dare not even buy GE at 8.35% yield

hum... I think it's 'USD safe currency' time again..

need to get shorts on cable and euro any time there is serious profit taking after this down move

I see 1.26 for euro
DireXiv Make it happen, no one else is going to do it for you...
  • #111,049
  • Jan 13, 2009 10:34am Jan 13, 2009 10:34am
Quoting pipsbull
there is a hidden bearish divergence on 15min
Surely a Hidden Bullish?
  • #111,050
  • Jan 13, 2009 10:36am Jan 13, 2009 10:36am
Quoting allserene
yes and if we over leverage our accounts or over egg our positions then we are forced to set tight s/l's which are bumped in times of low liquidity.
I am convinced the brokers hunt s/l's at these times as i have too many examples of a streak of light whacking my s/l exactly to the pip and then streaking back again

i shorted overnight with no s/l set but at a size i could take the loss.
As it happens i have made a handsome profit

I think i will set small positions with no s/l and let em run

I knew i could swallow say a 300 pip move against...
100%, I couldn't agree with you more. I think a lot of times, a tight stop loss can be murder. People may be thinking that they are reducing their risk, but in fact they will probably incur a bigger loss than if they had a looser stop loss which wasn't hit by the market noise: the randomness. Just like you're saying, the monet management is fundermental, and it's a SKILL to know where to put the stop loss: not too high, not too low.
Probability Professor
  • #111,051
  • Jan 13, 2009 10:37am Jan 13, 2009 10:37am
Quoting PipLand
Surely a Hidden Bullish?
bearish, which is not playing out yet
  • #111,052
  • Jan 13, 2009 10:37am Jan 13, 2009 10:37am
Quoting PipLand
Surely a Hidden Bullish?
That's what my long from 4540 is hoping for!
Just digging in the trenches like everyone else!
  • #111,053
  • Jan 13, 2009 10:40am Jan 13, 2009 10:40am
Quoting eohater
That's what my long from 4540 is hoping for!
Nice entry i wanted to enter there but didnt have the balls to do it today, lol. Im gonna look for a long entry soon, certainly looks like weve got some support now
  • #111,054
  • Jan 13, 2009 10:45am Jan 13, 2009 10:45am
Quoting PipLand
Nice entry i wanted to enter there but didnt have the balls to do it today, lol. Im gonna look for a long entry soon, certainly looks like weve got some support now
I'm covered at +2, I'm expecting this to get taken out. My 4h is shaping up to be a nice turn though. I have a new candle opening in 18 minutes. I'll buy lower. As long as the wick holds on the current 4h candle, I'll buy at the bottom of the wick with tight SL. Oil prices are rising, Saudi has cut production today. Their trying to manipulate the price. My current 15m candle says she's going back down atm.
Just digging in the trenches like everyone else!
  • #111,055
  • Jan 13, 2009 10:45am Jan 13, 2009 10:45am
Quoting Galation
I think there is a big problem with people who interpret random noise as signals and trends on small time frames. Randomness is randomness; not every 50 pip movement has a reason behind it; there is a lot of over analysis where people are trying to interpret meaning from mere randomness.
Yes, I am scalping a liitle bit here and there. And 15min is good enough for me, 4H is a mojor trend, isn't it?
And today, when GU is dancing around 4670, none of you guys (with all my respect to your amalysis) can predict next 15 min move. Even casino gambling would be more profitable. So I decided to stay out of it till the situation will be more clear.
  • #111,056
  • Jan 13, 2009 10:47am Jan 13, 2009 10:47am
Quoting Komissar
Yes, I am scalping a liitle bit here and there. And 15min is good enough for me, 4H is a mojor trend, isn't it?
And today, when GU is dancing around 4670, none of you guys (with all my respect to your amalysis) can predict next 15 min move. Even casino gambling would be more profitable. So I decided to stay out of it till the situation will be more clear.
The candles tell you what she's going to do. The last 15m candle tells me she's going down again. It's all in the candles.
Just digging in the trenches like everyone else!
  • #111,057
  • Jan 13, 2009 10:48am Jan 13, 2009 10:48am
anyone have a 4h candle that closed 48 min ago that they could post?

Thank you!
Just digging in the trenches like everyone else!
  • #111,058
  • Jan 13, 2009 10:50am Jan 13, 2009 10:50am
Quoting Komissar
Yes, I am scalping a liitle bit here and there. And 15min is good enough for me, 4H is a mojor trend, isn't it?
And today, when GU is dancing around 4670, none of you guys (with all my respect to your amalysis) can predict next 15 min move. Even casino gambling would be more profitable. So I decided to stay out of it till the situation will be more clear.
4h, 1day. 1 week and 1 month candles are the trendiest. Even when scalping, use these time frames to establish the trend and the movement. People often ask, 'What is the trend?'. Well, take the example time frames mentioned above. If the graph starts in the top left and ends in the bottom right, it is trending down. If it starts in the bottom left and ends in the top right, it's trending up.

There are smart ways to scalp, therefore if one scalps, do it smartly. =)
Probability Professor
  • #111,059
  • Jan 13, 2009 10:52am Jan 13, 2009 10:52am
GU 4 hour Candle
Attached Image (click to enlarge)
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Probability Professor
  • #111,060
  • Jan 13, 2009 10:52am Jan 13, 2009 10:52am
Quoting eohater
I'm covered at +2, I'm expecting this to get taken out. My 4h is shaping up to be a nice turn though. I have a new candle opening in 18 minutes. I'll buy lower. As long as the wick holds on the current 4h candle, I'll buy at the bottom of the wick with tight SL. Oil prices are rising, Saudi has cut production today. Their trying to manipulate the price. My current 15m candle says she's going back down atm.
Yeah looks like it will get taken out, im gonna wait for 4500 if were lucky enough to see it, looks like good support there, my 4 hour candle only opened up just under an hour ago. Ive noticed the oil going up too and also Silver is going back up, i bought some early when it hit my price target of 10.500
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