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Cable Update (GBPUSD)

  • #115,501
  • Jan 27, 2009 2:00pm Jan 27, 2009 2:00pm
Quoting Infinity
I am not taking the long off the m15 50 this time based on the thin volume and slow movements... I am still seeing possible shampoo on m15 and h1 so shorts look more favourable to me...Eu is also looking like a bearish pin atm but the daily closes will be important...
Nothing wrong with that, I'm still holding longs and like you said, the daily close will be crucial. I am looking at the retest of the daily wedge line after today's close. Daily pin on EURO will support us going down, but the candle we're brewing on the Pound would also support the retest and then fall. We'll see how she plays out.
Just digging in the trenches like everyone else!
  • #115,502
  • Jan 27, 2009 2:16pm Jan 27, 2009 2:16pm
price bouncing off m15 21ema also
  • #115,503
  • Jan 27, 2009 2:22pm Jan 27, 2009 2:22pm
Quoting joemiami
...
Now I think this is a possibility
  • #115,504
  • Jan 27, 2009 2:25pm Jan 27, 2009 2:25pm
Quoting eohater
Nothing wrong with that, I'm still holding longs and like you said, the daily close will be crucial. I am looking at the retest of the daily wedge line after today's close. Daily pin on EURO will support us going down, but the candle we're brewing on the Pound would also support the retest and then fall. We'll see how she plays out.
Seems it found some life off the m15 50....
Patience + Discipline - Greed = Success
  • #115,505
  • Jan 27, 2009 2:27pm Jan 27, 2009 2:27pm
Quoting Infinity
Seems it found some life off the m15 50....
It sure has. I should have added more soldiers to the final run. Oh well! I don't think we'll break today's high tomorrow, but I do see it going back up there for that final test of the bottom of the wedge and then, down periscope.
Just digging in the trenches like everyone else!
  • #115,506
  • Jan 27, 2009 2:29pm Jan 27, 2009 2:29pm
Quoting eohater
It sure has. I should have added more soldiers to the final run. Oh well! I don't think we'll break today's high tomorrow, but I do see it going back up there for that final test of the bottom of the wedge and then, down periscope.
definitely possible bro!
Patience + Discipline - Greed = Success
  • #115,507
  • Jan 27, 2009 2:31pm Jan 27, 2009 2:31pm
Quoting Infinity
definitely possible bro!
Another key that I'm looking for, and you and I talked about this this morning and that's having the daily close below the 10sma.
Just digging in the trenches like everyone else!
  • #115,508
  • Edited 2:44pm Jan 27, 2009 2:32pm | Edited 2:44pm
Quoting ZuZuFx
Why you are so hard on me , people ? By the way ....it's my monney , not yours !!! I was just asking what do you think is the trend !!!! Maybe it's hard for you to understand what i am going true....but is even hard for me to understand why all of you going nuts when i tell you what my possition is .....maybe is because you never afort to trade 500 K or what ? Sorry , don't meant to be rooth !!!
U have to understand that trading is about developing yourself, u picked a direction and u remain in it until it is made very clear that yur wrong...if yur unable to accept this fact then trading will make u broke completely and u will wish trading never existed cause it will be your downfall....

it looks to me that u are against the major trend and a trend can go on for years..i do understand what yur going through and i feel maybe right now it is all or nothing for u...but learn from it and dont do it again.

good luck and i hope u get out of this mess..i really do

i traded for ages...in trades where stop losses where huge and thought i knew what i was doing, i now realise i was guessing in disguise, learn about yourself and understand this game is about support and resistance if it holds or not...it will tell u the direction. To see it move away from u and continue to allow it to take yur money means the market as a hold on u and not the other way round....this is the first thing u need to find answers too, only then can u move on

market has no feeling, u will just stop when yur broke...anyways i will stop my rant now
  • #115,509
  • Jan 27, 2009 2:43pm Jan 27, 2009 2:43pm
My trade result today is very funy, 11 shorts and longs hit at profit lock 5 - 8 pips all, cause of waiting for TP eventhough several of them already reached about 30 pips ! Nope, just train my new system where I able to entry without waiting for the best level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #115,510
  • Jan 27, 2009 2:47pm Jan 27, 2009 2:47pm
Quoting eohater
GBP use to be very strong, but with the global turmoil we're in, the dollar has risen as the world's reserve currency. I do believe the dollar will get flushed as soon as the US declares we are out of the recession and back on high times.
I agree 100%
Probability Professor
  • #115,511
  • Jan 27, 2009 2:57pm Jan 27, 2009 2:57pm
My results are mixed today and nothing to brag about I am looking now at 4h chart will see how the day will end.As for the gentlemen that loosing money we all been there in the beginning and I can really understand you ,but remember one thing before you start trading learn money management and please put stops,that's the most important thing to learn .Good luck to you and consider the loss as a price of education
  • #115,512
  • Jan 27, 2009 3:01pm Jan 27, 2009 3:01pm
Infinity, your daily candle doesn't close for 30m right?
Just digging in the trenches like everyone else!
  • #115,513
  • Jan 27, 2009 3:04pm Jan 27, 2009 3:04pm
Quoting sofia101
My results are mixed today and nothing to brag about I am looking now at 4h chart will see how the day will end.As for the gentlemen that loosing money we all been there in the beginning and I can really understand you ,but remember one thing before you start trading learn money management and please put stops,that's the most important thing to learn .Good luck to you and consider the loss as a price of education
I think it's about time for that short trade you were looking for yesterday. Not at this level per say, but around 419x area maybe a little higher with SL on the other side of the bottom of the wedge.
Just digging in the trenches like everyone else!
  • #115,514
  • Jan 27, 2009 3:04pm Jan 27, 2009 3:04pm
Quoting eohater
Another key that I'm looking for, and you and I talked about this this morning and that's having the daily close below the 10sma.
Patience + Discipline - Greed = Success
  • #115,515
  • Jan 27, 2009 3:08pm Jan 27, 2009 3:08pm
Quoting eohater
I think it's about time for that short trade you were looking for yesterday. Not at this level per say, but around 419x area maybe a little higher with SL on the other side of the bottom of the wedge.
Yes I hope you are right lets see how the day ends
  • #115,516
  • Jan 27, 2009 3:11pm Jan 27, 2009 3:11pm
I know this is the cable thread, but the daily candle on the EURO looks like it's ready to take a thrashing. I don't trade the EURO, but I might take a trade on that one just for the giggles.
Just digging in the trenches like everyone else!
  • #115,517
  • Jan 27, 2009 3:15pm Jan 27, 2009 3:15pm
Maybe I see it on4h but on daily my system showing some more upside
  • #115,518
  • Jan 27, 2009 3:17pm Jan 27, 2009 3:17pm
Quoting sofia101
Maybe I see it on4h but on daily my system showing some more upside
Are you referencing the pound? I agree, we are going to get a bullish close today on the pound, now, the question is, can she break the bottom of the wedge or will she bounce off of it like she did earlier at 4244? This I don't know, so, I'll play the short off the bottom at this point. There are some saying the pound is headed for 1.46, they could be right as well. Either way, I'll trade what is presented and let PA lead the way.
Just digging in the trenches like everyone else!
  • #115,519
  • Jan 27, 2009 3:18pm Jan 27, 2009 3:18pm
Quoting eohater
I know this is the cable thread, but the daily candle on the EURO looks like it's ready to take a thrashing. I don't trade the EURO, but I might take a trade on that one just for the giggles.
I think its very relevent, cable would have a tougher job rallying if EU is heading down. Im expecting Eu to test support at the 1.3050 ish area. Might take a trade on it too
  • #115,520
  • Jan 27, 2009 3:18pm Jan 27, 2009 3:18pm
Quoting eohater
I know this is the cable thread, but the daily candle on the EURO looks like it's ready to take a thrashing. I don't trade the EURO, but I might take a trade on that one just for the giggles.
Have a look at the daily USD/JPY candle. If that's a H&S, then it could get real ugly for the dollar.
Hi, my name is Barry and you can keep your doctor...
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