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Cable Update (GBPUSD)

  • #112,161
  • Jan 16, 2009 8:50am Jan 16, 2009 8:50am
1.4900, 1.4800, 1.4700, 1.4600, Every round number is known as figure in trading. It tried to break 1.49 and bounced from there. More often than not if figure is broken but not the 90 number meaning 4890 than its still will trade above figure. breaks of 4880 or 20 pips below figure will almost always test 4840 or 40 pip drop. ON way up is figure is borker it normally will test 10 like 4910 or 5010 and that is why i place my stops above or below these false break out levels. Once this pair breaks figure on my trade i will bump my stop to entry of 4930 to take risk from account and expect continutaion but it comes back lose nothingt that is risk management and a break even is consdiered a winning trade.
  • #112,162
  • Jan 16, 2009 8:50am Jan 16, 2009 8:50am
Quoting Turtle
Thanks for giving back...........

Very helpful information!

HOLLA
I wonder how long the info. will be for free??............
  • #112,163
  • Jan 16, 2009 8:51am Jan 16, 2009 8:51am
Quoting AmeriTrini
I wonder how long the info. will be for free??............
on the same page, AmeriTrini!

well done on your long, btw...
  • #112,164
  • Jan 16, 2009 8:53am Jan 16, 2009 8:53am
Quoting gammase1
on the same page, AmeriTrini!

well done on your long, btw...
over 300 pips!!
  • #112,165
  • Jan 16, 2009 8:54am Jan 16, 2009 8:54am
Quoting zimdonks
short from 4951. appreciate the commmentary mate! keep it coming. im following your breakdown, very informative.

muchas gracias
You still in and what is your plan?
  • #112,166
  • Jan 16, 2009 8:56am Jan 16, 2009 8:56am
Quoting AmeriTrini
over 300 pips!!
nice one, deserved.

i took 100 pips on the long, but decided, in my infinite wisdom, that it was too risky to leave overnight...
  • #112,167
  • Jan 16, 2009 8:56am Jan 16, 2009 8:56am
Quoting AmeriTrini
I wonder how long the info. will be for free??............
If i have nothing to sell than what do i charge for or try to sell people? If you have an idea and want to be my manager let me know because i am free and do not want a commited responsiblity. very happy with my hybrid and never want to be commited to full time responsiblity. Like to float around and be independent.
  • #112,168
  • Jan 16, 2009 8:56am Jan 16, 2009 8:56am
Quoting Professor4x
1.4900, 1.4800, 1.4700, 1.4600, Every round number is known as figure in trading. It tried to break 1.49 and bounced from there. More often than not if figure is broken but not the 90 number meaning 4890 than its still will trade above figure. breaks of 4880 or 20 pips below figure will almost always test 4840 or 40 pip drop. ON way up is figure is borker it normally will test 10 like 4910 or 5010 and that is why i place my stops above or below these false break out levels....
Hi.. as a super newbie.. i am really appreciating all this advice... pls keep it coming !!! Thanks!
  • #112,169
  • Jan 16, 2009 8:57am Jan 16, 2009 8:57am
Quoting AmeriTrini
I wonder how long the info. will be for free??............
Indeed. Time will tell.
If there is ever any doubt then there is no doubt.
  • #112,170
  • Jan 16, 2009 8:58am Jan 16, 2009 8:58am
I don't have the analytical skills of a lot of traders in here, but here's what bothers me about the pound going lower. The e/g is down. The e/u is up. The g/u is up. It just looks like the pound is the strongest of the three at this time.
Hi, my name is Barry and you can keep your doctor...
  • #112,171
  • Jan 16, 2009 8:58am Jan 16, 2009 8:58am
Quoting gammase1
nice one, deserved.

i took 100 pips on the long, but decided, in my infinite wisdom, that it was too risky to leave overnight...
If you cut half position and bump stop to entry that normally works for bigger gains. With this market becasue of liquidity you can do that becasue you stop will be filled and the risk is off the account. Just an idea
  • #112,172
  • Jan 16, 2009 9:00am Jan 16, 2009 9:00am
Quoting cisco
I don't have the analytical skills of a lot of traders in here, but here's what bothers me about the pound going lower. The e/g is down. The e/u is up. The g/u is up. It just looks like the pound is the strongest of the three at this time.
The g/u is up and hitting Resistance - time to come down =)
  • #112,173
  • Jan 16, 2009 9:02am Jan 16, 2009 9:02am
Quoting cisco
I don't have the analytical skills of a lot of traders in here, but here's what bothers me about the pound going lower. The e/g is down. The e/u is up. The g/u is up. It just looks like the pound is the strongest of the three at this time.
The long out the chart time interval the more identifiable the trend. The daily chart will give you direcation for a week since its records data on day to day basis. If you look at your daily slow stoc's and us 5,5,5 pks as parameters you will notice it still has alot of room on 5 sma to issue reversal signal so trend is still south.
  • #112,174
  • Jan 16, 2009 9:03am Jan 16, 2009 9:03am
Quoting AmeriTrini
over 300 pips!!
Patience + Discipline - Greed = Success
  • #112,175
  • Jan 16, 2009 9:03am Jan 16, 2009 9:03am
If you been paying attention this whole move should make sense to you. That is why forex is most predictable market in world
  • #112,176
  • Jan 16, 2009 9:04am Jan 16, 2009 9:04am
Hey Infinity
Ive just let part of that trade run for next week
Really im out of the market right now.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4249536/Treasury-plans-bad-bank-to-buy-toxic-assets.html

Quoting Infinity
Nice entry you got down there..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,177
  • Jan 16, 2009 9:04am Jan 16, 2009 9:04am
Quoting Professor4x
1.4900, 1.4800, 1.4700, 1.4600, Every round number is known as figure in trading. It tried to break 1.49 and bounced from there. More often than not if figure is broken but not the 90 number meaning 4890 than its still will trade above figure. breaks of 4880 or 20 pips below figure will almost always test 4840 or 40 pip drop. ON way up is figure is borker it normally will test 10 like 4910 or 5010 and that is why i place my stops above or below these false break out levels. Once this pair breaks figure on my trade i will bump my stop to entry of...
Is this figured from the actual close of the candle or if price action hits these levels?
Please ask questions and share your experiences with us all!
  • #112,178
  • Jan 16, 2009 9:06am Jan 16, 2009 9:06am
Ohhh, the pound just made a plunge.
Well, all currencies currently bow before the dollar due to the good consumer sentiment from UoM...
  • #112,179
  • Jan 16, 2009 9:07am Jan 16, 2009 9:07am
just bumped stop to 4925 so its a winner and even though entry is 4930 if she break above figure again 1.49 i will take the 5 pip profit. if not and continues to slide than i make 130 pips either way good trade and no lose situation taget still at 1.48
  • #112,180
  • Jan 16, 2009 9:08am Jan 16, 2009 9:08am
Quoting bkg102665
Is this figured from the actual close of the candle or if price action hits these levels?
has nothing to do with candles or any technicals, figure is round price. 1.49, 1.48, 1.47
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