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Cable Update (GBPUSD)

  • #115,201
  • Jan 26, 2009 7:41pm Jan 26, 2009 7:41pm
short 4064..... 14 pp s/l
DireXiv Make it happen, no one else is going to do it for you...
  • #115,202
  • Jan 26, 2009 7:42pm Jan 26, 2009 7:42pm
Quoting koorb
Hey Infinity:

Where the cable is now trading are you just looking for PA and candle formations to determine a entry.
I use candlestick patterns to read price action which is to ultimately determine if we will likely see trend reversal or continuation. For entry, I prefer to use moving averages, trendlines/channels or previous areas of support/resistance.
Patience + Discipline - Greed = Success
  • #115,203
  • Jan 26, 2009 7:45pm Jan 26, 2009 7:45pm
Quoting Infinity
I use candlestick patterns to read price action which is to ultimately determine if we will likely see trend reversal or continuation. For entry, I prefer to use moving averages, trendlines/channels or previous areas of support/resistance.
Thanks Infinity
  • #115,204
  • Jan 26, 2009 7:47pm Jan 26, 2009 7:47pm
Quoting koorb
Thanks Infinity
Patience + Discipline - Greed = Success
  • #115,205
  • Jan 26, 2009 7:52pm Jan 26, 2009 7:52pm
s/l to +2

edit: taken out.. should have taken 30... now it's free to go down.. since i'm out
DireXiv Make it happen, no one else is going to do it for you...
  • #115,206
  • Jan 26, 2009 8:06pm Jan 26, 2009 8:06pm
waiting to have a long position. ..
  • #115,207
  • Jan 26, 2009 8:11pm Jan 26, 2009 8:11pm
Quoting uut
waiting to have a long position. ..

thats what i am seeing
  • #115,208
  • Jan 26, 2009 8:19pm Jan 26, 2009 8:19pm
lots of nice movements the past hour, bullish, with nice retracements! over 100+ pips so far and its not even London session yet
lowest draw down possible please.
  • #115,209
  • Jan 26, 2009 8:22pm Jan 26, 2009 8:22pm
Every touch of 4070 gets hammered down hard. Seems like someone is protecting stops.
  • #115,210
  • Jan 26, 2009 8:31pm Jan 26, 2009 8:31pm
bulls being relentless here.... BUT may be getting tired....

Quoting deuce
Every touch of 4070 gets hammered down hard. Seems like someone is protecting stops.
DireXiv Make it happen, no one else is going to do it for you...
  • #115,211
  • Jan 26, 2009 8:32pm Jan 26, 2009 8:32pm
Quoting DireXiv
short 4064..... 14 pp s/l


You are trading with a 14 pip stop loss? Please Please Please tell me that aint true
  • #115,212
  • Jan 26, 2009 8:34pm Jan 26, 2009 8:34pm
Quoting steelhead
You are trading with a 14 pip stop loss? Please Please Please tell me that aint true

What's ur average SL?
  • #115,213
  • Jan 26, 2009 8:34pm Jan 26, 2009 8:34pm
lol... it was a counter trend trade... double top on the m5... that was the risk I saw... only happens so often... sorry to offend. seems to be working well for me

Quoting steelhead
You are trading with a 14 pip stop loss? Please Please Please tell me that aint true
DireXiv Make it happen, no one else is going to do it for you...
  • #115,214
  • Jan 26, 2009 8:36pm Jan 26, 2009 8:36pm
varies per trade... try to keep it under 50 at almost all times.

Quoting Inzider
What's ur average SL?
DireXiv Make it happen, no one else is going to do it for you...
  • #115,215
  • Jan 26, 2009 8:36pm Jan 26, 2009 8:36pm
Quoting DireXiv
lol... it was a counter trend trade... double top on the m5... that was the risk I saw... only happens so often... sorry to offend. seems to be working well for me
25 pips for you...
  • #115,216
  • Jan 26, 2009 8:47pm Jan 26, 2009 8:47pm
Wow, this thing really won't break apart from the 1.40564 level!
lowest draw down possible please.
  • #115,217
  • Jan 26, 2009 9:01pm Jan 26, 2009 9:01pm
I hope its going back to 1.400 and less, short from 1.4262
  • #115,218
  • Jan 26, 2009 9:05pm Jan 26, 2009 9:05pm
Quoting Infinity
It was a clear bounce off the m15 50ema.. I was waiting for it...just closed a long for 110 pips.. looking for a new entry now..
Nice play bro! Same long I took, I'm still in mine though. I might not get to trade tomorrow during the US Session, I have to report for jury duty. Going to try and get dismissed. We'll see how that turns out.
Just digging in the trenches like everyone else!
  • #115,219
  • Jan 26, 2009 9:13pm Jan 26, 2009 9:13pm
Here's what I see now. 4080 is being strong resistance. Mind you it's also where the 4h 50ema is at. She was rejected once, went up there, rejected again, now going for a third time. Will this be the charm? I don't know. I'm long from 3942, profit is well protected. If I wasn't in a trade. I would be looking at my option of shorting the 4080 area or waiting for a pullback to go long into her. I wouldn't be surprised to see her slapped down to around 398x area for another push. Remember, yesterday's daily candle close was a bullish hammer. This doesn't guarantee the whole day will be bullish, but it does favor longs. I'm targeting 4200 to even 4350 area.

Trade well everyone!
EO
Just digging in the trenches like everyone else!
  • #115,220
  • Jan 26, 2009 9:13pm Jan 26, 2009 9:13pm
looks an awful lot like a flat bottom descending triangle on m5... should run if we get much of an up move.

inzider where is your s/l at?
DireXiv Make it happen, no one else is going to do it for you...
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Danil99