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Cable Update (GBPUSD)

  • #120,241
  • Feb 13, 2009 4:50am Feb 13, 2009 4:50am
Quoting JammerJams
I agree with manize..take your longs..and tighten the SL or close them.
my recommendation if you have lots of pips already..then tighten the SL.
Set your SL just below the inner trendline

let the 4hr candle play itself out..and watch the trend breech..or bounce upward..will see..
Thanks, I have closed it bro. What I thinking now, another entry on next H4 open/close !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #120,242
  • Feb 13, 2009 4:51am Feb 13, 2009 4:51am
Quoting uut
anyone waiting to sell?
LOL kind of too late
  • #120,243
  • Feb 13, 2009 4:53am Feb 13, 2009 4:53am
Quoting sofia101
Well I am still short moved my stop loss

Well,...Im making a few pips here and there..but I am waiting for the main course meal...and that is the final test of this or whatever level it creates a solid resistence..and then take it down with SL moves downward....

Sofia..I am not to convinced that this may be the end of this fib level...it may shot up a little..will see..
but there is a nice 1 hr top wick forming..

the new york session is a "Crazy bunch ah Cowboys!" so you never know..
  • #120,244
  • Feb 13, 2009 4:57am Feb 13, 2009 4:57am
Quoting uut
anyone waiting to sell?
Only if it's below 4450 for me.
Thank You
  • #120,245
  • Feb 13, 2009 5:01am Feb 13, 2009 5:01am
Quoting JammerJams
I agree with manize..take your longs..and tighten the SL or close them.
my recommendation if you have lots of pips already..then tighten the SL.
Set your SL just below the inner trendline

let the 4hr candle play itself out..and watch the trend breech..or bounce upward..will see..
My 4H has just closed at 1.4529 - any advice?
  • #120,246
  • Feb 13, 2009 5:01am Feb 13, 2009 5:01am
Quoting sofia101
Well I am still short moved my stop loss
Hi Sofia

I'm new to this forum but have been watching for some days. Very impressed with your cool approach. Definitely think it is 80% the mind and 20% technique.
I know you are a slightly longer term trader so generally what is your s/l tolerance or size. I know this is a big topic but a brief reply would be OK
  • #120,247
  • Feb 13, 2009 5:02am Feb 13, 2009 5:02am
Quoting wormboy
Only if it's below 4450 for me.
I took the 20 pips south once it crossed the inner trend..and then got out..
but..for serious drop..we need to have:
1. 1 hr candles closing with second forming below..
2. a suuport level breeched... 4450 sounds good to me..
3. Stochs forming a nice cross over and drop below 70 to get in on a nice longduration SHORT...
  • #120,248
  • Feb 13, 2009 5:03am Feb 13, 2009 5:03am
nice, the hourly closed smack @ 4550. Let's see if the 4 hour candle can hold it off.
Thank You
  • #120,249
  • Feb 13, 2009 5:05am Feb 13, 2009 5:05am
Quoting Barny
Hi Sofia

I'm new to this forum but have been watching for some days. Very impressed with your cool approach. Definitely think it is 80% the mind and 20% technique.
I know you are a slightly longer term trader so generally what is your s/l tolerance or size. I know this is a big topic but a brief reply would be OK
It will depend on your acct.size mine is 150 because the volatility in the market
  • #120,250
  • Feb 13, 2009 5:09am Feb 13, 2009 5:09am
I got out at 50 pips wil it bounce off the 1.4520 and go bull.
to hit the 50% fibb again 1.4562 +/-

If it drops below 1.4520 it could go to 1.4461 fibb 38.2%
  • #120,251
  • Feb 13, 2009 5:11am Feb 13, 2009 5:11am
Quoting sofia101
LOL kind of too late
Sofia, small correction or turn head here? Don't tell me you not tell your secret again
  • #120,252
  • Feb 13, 2009 5:11am Feb 13, 2009 5:11am
Quoting JammerJams
I took the 20 pips south once it crossed the inner trend..and then got out..
but..for serious drop..we need to have:
1. 1 hr candles closing with second forming below..
2. a suuport level breeched... 4450 sounds good to me..
3. Stochs forming a nice cross over and drop below 70 to get in on a nice longduration SHORT...
I couldn't take any position right now mate, bit vague for me atm since the candles are playing in between the buffer. But since 4550 levels are not breached it looks promising for that serious drop. But I'll wait for the 4hr close. Just like you said mate, I won't count the chickens just yet
Thank You
  • #120,253
  • Edited 5:18am Feb 13, 2009 5:14am | Edited 5:18am
On the way Short...

I see new candle in H1 cannot drag MA weekly

Attached Image (click to enlarge)
Click to Enlarge Name: long.gif Size: 26 KB


BEP +1 right now.
  • #120,254
  • Feb 13, 2009 5:15am Feb 13, 2009 5:15am
Quoting Exciter135
Sofia, small correction or turn head here? Don't tell me you not tell your secret again
I am still short
  • #120,255
  • Feb 13, 2009 5:19am Feb 13, 2009 5:19am
Quoting sofia101
I am still short
Thanks
  • #120,256
  • Feb 13, 2009 5:21am Feb 13, 2009 5:21am
Quoting Barny
Hi Sofia

I'm new to this forum but have been watching for some days. Very impressed with your cool approach. Definitely think it is 80% the mind and 20% technique.
I know you are a slightly longer term trader so generally what is your s/l tolerance or size. I know this is a big topic but a brief reply would be OK
I know you are not asking me Barny..but there is a nice rule of thumb...

Lets use 100k acct.
1. Know your risk level..average start would be 2% of the account. Mine is set for 1% risk. so.. $1,000 for 1% is max I risk
2. Know the pip travel desired..mine varies..
so for 100 pip travel..the Lot size is 1.0 = $10 ($10x100= $1,000)
3. Know that your gain must be at least twice your risk..dont go in for less
4. example..profit chance sure trade...then i will drop pip risk and increase Lot.
2 Lot entry = SL 50 pip travel = ($20 x 50 = $1,000) same risk more profit if opportunity arrises.

hope this helped.
  • #120,257
  • Feb 13, 2009 5:23am Feb 13, 2009 5:23am
Quoting wormboy
I couldn't take any position right now mate, bit vague for me atm since the candles are playing in between the buffer. But since 4550 levels are not breached it looks promising for that serious drop. But I'll wait for the 4hr close. Just like you said mate, I won't count the chickens just yet
I agree...too vague..

If I were to be a betting man..its going to drop like a rock once its made its mind up to drop...but for now..all traders are readng indicators..and waiting for candle confirmation.
  • #120,258
  • Feb 13, 2009 5:30am Feb 13, 2009 5:30am
thats it,i think the cableisturning down now as it hit the 50% Fib on the hourlychart...
  • #120,259
  • Feb 13, 2009 5:31am Feb 13, 2009 5:31am
One thing is for sure though, if the drop continues all the way to the hole, I am going to take my virtual hat off to sofia & biax.
Thank You
  • #120,260
  • Feb 13, 2009 5:35am Feb 13, 2009 5:35am
Quoting wormboy
One thing is for sure though, if the drop continues all the way to the hole, I am going to take my virtual hat off to sofia & biax.
One thing for sure wormboy...some of these traders..like these two are cool as cucumbers..

I would not play cards against them. They act quickly and dont flinch.

I like my statements to show
win
win
win
win

I dont care the size as much as the win.....customers like to see that. they dont care the size...
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