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Cable Update (GBPUSD)

  • #121,481
  • Feb 18, 2009 11:11am Feb 18, 2009 11:11am
Dollar index falling nicely...hold those longss
  • #121,482
  • Feb 18, 2009 11:11am Feb 18, 2009 11:11am
EZ come, EZ go...hedged lot @ 1.4224...will see what the topside says...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,483
  • Feb 18, 2009 11:12am Feb 18, 2009 11:12am
Quoting fourxtrader
Following Abuawad's methodology with great interest.

From Abuawad's GBPUSD Daily Analysis chart for 2/18/09...
posted before the London open, there was a projected entry
level for a trigger off of a 4H close / open above 1.4265.

I had an 8:00 GMT London open at 1.4269 (IBFX) and 1.4275 (Alpari).

Am I being presumptuous or is my timing off?

[i][color=blue]Reading...
His strategy is difficult for me to understand.
  • #121,484
  • Feb 18, 2009 11:13am Feb 18, 2009 11:13am
Bloomberg said the rise in the dow just now is a result of short covering before obamas speech. My bias is still up toward 4275 but utimately the 4h 55ema.
  • #121,485
  • Feb 18, 2009 11:16am Feb 18, 2009 11:16am
Quoting jack.canadia
His strategy is difficult for me to understand.
Agree. I've got a post from earlier today asking for clarification on his strategy. Hopefully he will be kind enough to explain.
  • #121,486
  • Feb 18, 2009 11:18am Feb 18, 2009 11:18am
I've had some questions as to why I took the long at 4188 (BOTH TIMES), so here we go. Notice the candles circled in red. The first candle typically would tell me to go long on the opening of the next candle except for one thing. We were sitting on the 15m 35sma/50ema. So, patience has to kick in and wait for the next candle to form. If I missed the entry, I'll get another seat somewhere else. Notice the 2nd candle circled in red continued it's journey south. Now, once this candle closed, we had a clean movement through the 35sma/50ema. My system calls for a long back into the traffice with SL around 25-30 pips once the 35sma/50ema are cleared. Since the 2nd candle circled in red had a tail. I set a PO long at 4188 and got filled during the candle circled in blue and targeting to take half profit off at the 15m 50ema and set the rest at +3 once half my position was closed. This trade was completed. Now, moving to the candle circled in orange, HAMMER. This candle gave me the green light to go long. Same SL was tight, 15pips. I booked partial profit at 4230 and set the rest at +3. As well, I use the upper time frame charts, 1h and 4h.

Hope this isn't too confusing.

EO
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Just digging in the trenches like everyone else!
  • #121,487
  • Feb 18, 2009 11:19am Feb 18, 2009 11:19am
This week has been really exciting......!!!!=====>
Patience + Discipline - Greed = Success
  • #121,488
  • Feb 18, 2009 11:20am Feb 18, 2009 11:20am
Quoting Infinity
This week has been really exciting......!!!!=====>
What's up brother? I'd agree with you.
Just digging in the trenches like everyone else!
  • #121,489
  • Feb 18, 2009 11:22am Feb 18, 2009 11:22am
Quoting eohater
I've had some questions as to why I took the long at 4188 (BOTH TIMES), so here we go....
Thanks for taking the time to explain that.
  • #121,490
  • Feb 18, 2009 11:24am Feb 18, 2009 11:24am
Quoting eohater
What's up brother? I'd agree with you.
I'm good bro! This week has been all about scalps... I got some good pips since the start of the week but DAMN!!!
Patience + Discipline - Greed = Success
  • #121,491
  • Feb 18, 2009 11:30am Feb 18, 2009 11:30am
Quoting eohater
I've had some questions as to why I took the long at 4188 (BOTH TIMES), so here we go. Notice the candles circled in red. The first candle typically would tell me to go long on the opening of the next candle except for one thing. We were sitting on the 15m 35sma/50ema. So, patience has to kick in and wait for the next candle to form. If I missed the entry, I'll get another seat somewhere else. Notice the 2nd candle circled in red continued it's journey south. Now, once this candle closed, we had a clean movement through the 35sma/50ema. My system...
I went long because we were on the 50% retracement of the rally and also the positioning of the DOW at the time.
  • #121,492
  • Feb 18, 2009 11:30am Feb 18, 2009 11:30am
Quoting Infinity
I'm good bro! This week has been all about scalps... I got some good pips since the start of the week but DAMN!!!
I've been doing the same, 30-50 here and there. I don't think I've had a run over 50 all week yet. I'm not trading London this week. My ass is wore out and I have a cold, so I need to grab the sleep to trade the US Session.

I made some nice pippage on UJ on Sunday, but it ate me on Monday. Thankfully, my prior pippage made uup for the loss.
Just digging in the trenches like everyone else!
  • #121,493
  • Feb 18, 2009 11:34am Feb 18, 2009 11:34am
Off to lunch. Back in about an hour!
Just digging in the trenches like everyone else!
  • #121,494
  • Feb 18, 2009 11:37am Feb 18, 2009 11:37am
Forex Factory group is now on facebook. search Forex Factory.
Just Trade It
  • #121,495
  • Feb 18, 2009 11:39am Feb 18, 2009 11:39am
Quoting eohater
I've been doing the same, 30-50 here and there. I don't think I've had a run over 50 all week yet. I'm not trading London this week. My ass is wore out and I have a cold, so I need to grab the sleep to trade the US Session.

I made some nice pippage on UJ on Sunday, but it ate me on Monday. Thankfully, my prior pippage made uup for the loss.
I'm getting 20-50 per trade... gu only... I have'nt traded uj in about a year. I am not interested in London either, need sleep...
Patience + Discipline - Greed = Success
  • #121,496
  • Feb 18, 2009 11:41am Feb 18, 2009 11:41am
Quoting eohater
I've had some questions as to why I took the long at 4188 (BOTH TIMES), so here we go....
Good explanation, thanks.
  • #121,497
  • Feb 18, 2009 11:52am Feb 18, 2009 11:52am
Failed to the uppper trendline 3 times....
  • #121,498
  • Feb 18, 2009 12:08pm Feb 18, 2009 12:08pm
Quoting Inzider
Failed to the uppper trendline 3 times....
Im short at 4243 with stops at entry...
Going to make it big by age 21.
  • #121,499
  • Feb 18, 2009 12:12pm Feb 18, 2009 12:12pm
Quoting dstryr
Im short at 4243 with stops at entry...
Long from 4215 still.
  • #121,500
  • Feb 18, 2009 12:14pm Feb 18, 2009 12:14pm
Quoting jack.canadia
Long from 4215 still.
Dollar index made a lower low.
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