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Cable Update (GBPUSD)

  • #121,161
  • Feb 17, 2009 4:02pm Feb 17, 2009 4:02pm
when? since 4am (EST)
why? it is bouncing off resistance at (4230-4250), I will post chart after groceries.
  • #121,162
  • Feb 17, 2009 4:06pm Feb 17, 2009 4:06pm
Quoting CableXpert
I promise I am not selling anything. I just want to get my system from 65% to 85% so I am here to exchange opinions. But as the weak human that I am I wanted to brag about my last achievement, wouldn't you?

anyways, as i mentioned before, I think cable will go to 4350
Glad to hear! And yes, I don't blame you for bragging. Trading, as your know, can be a lonely job and many that don't trade, don't have a clue about what we do.

I can see 4350, which is why my current position is covered +3 and partial profit to come off at 4215. As well, the daily close suggests she could be on the move northbound to cover the gap. Your 4350 area is an area that will be filled with short orders, mine included.

Again, welcome and please share often. If you need help on how to post charts, just ask.
Just digging in the trenches like everyone else!
  • #121,163
  • Feb 17, 2009 4:07pm Feb 17, 2009 4:07pm
Keeping strengths and weaknesses together, and comparing the charts, the general market direction of GBP doesn't seem to me to be altogether bearish. Having played a soft hedge, holding for days at a time, the generalization that I am into is that, if EUR/GBP is on the down, typically it is not because of the weakness of EUR, but more because of the strength of GBP. Checking the chart on GBP/JPY, as I am long here as well, it would seem a more clear bear then cable as of current.

With todays EUR sloping press, EUR/GBP held its own throughout the trade day, minimal movement in an easily defined motion, so I will assume that once again, the movement in favor of GBP is more because of it's strength.

Though I still have scalps throughout the day, I have played the hedge 3x total today (Still holding 1), and have taken pips on both sides, as well as allowing me to more carefully monitor my quick plays, it sure softens the chart spikes...EEEK

With the EUR headed to the south, I will hold GBP for the north, can make the best of both worlds.


Long story short...<-(heh),Long on GBP...Short on EUR
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,164
  • Feb 17, 2009 4:15pm Feb 17, 2009 4:15pm
this may be a bit off topic....does anyone know how to bookmark 'the last' page on the thread so that each time I click on the bookmark i come to the last page.

\
  • #121,165
  • Feb 17, 2009 4:17pm Feb 17, 2009 4:17pm
Quoting CableXpert
this may be a bit off topic....does anyone know how to bookmark 'the last' page on the thread so that each time I click on the bookmark i come to the last page.
You can't bookmark 'the last' page, but when you log on, you can choose your name in the top left of the page and it will show any new posts. Also, from here, you can find your last post and go there to see posts since you last posted.
Just digging in the trenches like everyone else!
  • #121,166
  • Feb 17, 2009 4:26pm Feb 17, 2009 4:26pm
All i can say from that lately little debate is that we are here a nice community of retail trader (any bank here?!?). Night after night posting analysis, making jokes on others, and arging whit a speculative view... No one will come here sell us some scam sh**! Hehe!



--------------

Nice expain about entry EO, thx for the precision.

---------------------

Quoting Magix
Keeping strengths and weaknesses together, and comparing the charts, the general market direction of GBP doesn't seem to me to be altogether bearish....
What about new crash on equities and dow getting to low?
  • #121,167
  • Feb 17, 2009 4:28pm Feb 17, 2009 4:28pm
Quoting CableXpert
this may be a bit off topic....does anyone know how to bookmark 'the last' page on the thread so that each time I click on the bookmark i come to the last page.
wellcome to the thread..
  • #121,168
  • Feb 17, 2009 4:36pm Feb 17, 2009 4:36pm
I see H4 chart, cable still find direction... but i think cable is UP trend...
Take Long Position at 1.4230
  • #121,169
  • Feb 17, 2009 4:39pm Feb 17, 2009 4:39pm
Quoting CableXpert
when? since 4am (EST)
why? it is bouncing off resistance at (4230-4250), I will post chart after groceries.
Hope you are wrong for at least until i catch few pip down

We will see my short is already cover.

Welcome aboard.
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  • #121,170
  • Feb 17, 2009 4:44pm Feb 17, 2009 4:44pm
Quoting Lejumeau
Hope you are wrong for at least until i catch few pip down

We will see my short is already cover.

Welcome aboard.
Hey mister Lejumeau!

How you find it to trade from those cloud, ikomuku or some, hear alot of asian trader are using this indic! You had good result on it? Share a little if you feel.
  • #121,171
  • Feb 17, 2009 4:44pm Feb 17, 2009 4:44pm
Partial profit on my short has been taken at 4220 and the rest is covered at +3.

I'm outta here for now.

Trade well everyone!
EO
Just digging in the trenches like everyone else!
  • #121,172
  • Feb 17, 2009 5:08pm Feb 17, 2009 5:08pm
Quoting 17121712
That's an interesting question. The price broke down below the shoulder line of that supposed H/S on the 4H but then the 7:30 bounce @190 was off that line again. My feeling is that if youre short from here you are probably looking for a proper breakout past those levels.

don't guide for a breakout lthat is seeing in minor charts, most of them are false. the formation looks better in 4H, so, is better to await for a break into this chart to confirm
  • #121,173
  • Feb 17, 2009 5:19pm Feb 17, 2009 5:19pm
Quoting CableXpert
this may be a bit off topic....does anyone know how to bookmark 'the last' page on the thread so that each time I click on the bookmark i come to the last page.

bookmark this
http://www.forexfactory.com/showthre...378&page=99999

also can I please ask what time do you use for your pivots? EST 5pm or midnight GMT?

but assuming you go for the last page you will probably miss this!
  • #121,174
  • Feb 17, 2009 5:37pm Feb 17, 2009 5:37pm
Good information:

http://www.ft.com/cms/s/0/bb986078-f...077b07658.html
Probability Professor
  • #121,175
  • Feb 17, 2009 5:40pm Feb 17, 2009 5:40pm
Quoting CableXpert
this may be a bit off topic....does anyone know how to bookmark 'the last' page on the thread so that each time I click on the bookmark i come to the last page.
Hey .. I see your reasoning about 4350ish .. I have that as a prior support level and todays R1 is at that level.

I, too, just started using pivots and s/r only, combined with fibs and took my $30 micro to $93 last week with 1k lots only! I would love to be able to apply the same discipline when I am older to a much larger amount of capital (I am still a student).

Congrats on your success thus far in FX. I watched a video from fxstreet.com about pivots and once I was told it's what the banks and institutional traders use, I was sold. It gives you the best idea for an are where price may pause, bounce or break.

Hope you stick around so we can compare analysis!
  • #121,176
  • Feb 17, 2009 5:47pm Feb 17, 2009 5:47pm
4320/50 ... chart does not contain my dalit pivots to avoid clutter.
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  • #121,177
  • Feb 17, 2009 5:47pm Feb 17, 2009 5:47pm
Quoting Inzider
Hey mister Lejumeau!

How you find it to trade from those cloud, ikomuku or some, hear alot of asian trader are using this indic! You had good result on it? Share a little if you feel.
Hi Inzider

I just start using this indicator but so far I found that is the best indicator among everything else, you have all what you need in this, trend support resistance, volatility, entry and exit, actualy 3 type of entry weak medium and strong signal.

it is design to keep you in the trend when you are in in this chart just few day ago you can see that I would easily close my position few time when you see the wipsaw on the price but the ichimoku ket me in the trade.

This video will show you the potential of this.
Inserted Video


This website is realy good every thing you need to learn about it
http://www.kumotrader.com/ichimoku_w...itle=Main_Page

It look complicate but it is realy simple to understand and use.

here an example of the signal few days ago.
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  • #121,178
  • Feb 17, 2009 5:48pm Feb 17, 2009 5:48pm
Have been short on cable since 1300gmt @ 1.4257. I think that the shampoo on the h4 is very attractive, but so that I dont get spooked out of the market I have set my s/l above the gap and above R1. Because s/l is large then lot size is small. Will also set another short order just before R1 with a tight s/l. There is a lot of opinion about cables next move and mine is that it will possibly return again to support in the current trend, thereby completing a beauty of a shampoo. But will try and cover myself in the short term. Then will be time go long big time

If only it was as easy as that.

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  • #121,179
  • Feb 17, 2009 5:49pm Feb 17, 2009 5:49pm
Quoting CableXpert
I have been trading my own account for 3 months (just cable) so far and I am up to 144k , I love forex. By the way my system is just 65% accurate but I risk 5% per trade.
It's always great to see someone spanking the market and their broker.
Nothing worth having is easy.
  • #121,180
  • Feb 17, 2009 6:00pm Feb 17, 2009 6:00pm
If you look at last nigth

see point A where you mention about the dead cat bounce well the cloud is a resistance area so that was giving me a good confirmation that the price migth not go across that big cloud and bounce back down.

then rigth now on point B we did actualy cross the cloud and if you notice the cloud are a lot lsmaller then the one last nigth why because the seller are driyng out.

and if the price start to climb up this migth be the begining of a trend since there is no cloud any more in front.

but since the cloud are weak it means it can cross easy on the down side as well.

so I'm waiting for the price to move to get in board.
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