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Cable Update (GBPUSD)

  • #121,861
  • Feb 19, 2009 8:10am Feb 19, 2009 8:10am
Hi, this is my opinion
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  • #121,862
  • Feb 19, 2009 8:11am Feb 19, 2009 8:11am
Yes, It is high risk to short in the half hour before news. I am waiting for the NYSE open now. Positive sentiment is too high and may continue until the equities short squad point out that optimism is bull-- shit.

Quoting alfamichi
Alcando...long time no see...

are you saying,we were wrong going short?
Ride the Bulls bearback!
  • #121,863
  • Feb 19, 2009 8:13am Feb 19, 2009 8:13am
Sory for mistake I w to post in EUR/usd
  • #121,864
  • Feb 19, 2009 8:14am Feb 19, 2009 8:14am
Good morning ALL!!!!

+270 GBP/JPY

+220 GBP/USD

w00t!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,865
  • Feb 19, 2009 8:16am Feb 19, 2009 8:16am
Quoting Infinity
m15 gave good signals to long at 4250....The break, retest and holding of the h1 62ema also confirmed it...
thats true however looking at the dailly we had a pin and the high broke..so it was a very straight forward trade, less imformation but accurate..much easier me feels

small time frame is all about getting right support or restistance and if not able to ..gonna get kicked hard.

good job thou spotting it bro
  • #121,866
  • Feb 19, 2009 8:22am Feb 19, 2009 8:22am
So true Nav how you getting on with the James 16 material?


Quoting nAVIN2007
thats true however looking at the dailly we had a pin and the high broke..so it was a very straight forward trade, less imformation but accurate..much easier me feels
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #121,867
  • Feb 19, 2009 8:22am Feb 19, 2009 8:22am
Quoting nAVIN2007
nope nothing changed...still getting kicked

i dont know how u guys trade smaller time frames...i find it practically impossible to get right..
It's actually a lot easier that trying to predict a direction longer term. I think the mistake most traders make when trading very short term time frames is also looking for long runs in their short term trades. This prevents you from taking profits. It's a bit like saying are you a trader or investor. Doing both at the same time is dodgy. However YOU HAVE TO LISTEN TO NEWS IN REAL TIME
  • #121,868
  • Feb 19, 2009 8:23am Feb 19, 2009 8:23am
Quoting nAVIN2007
thats true however looking at the dailly we had a pin and the high broke..so it was a very straight forward trade, less imformation but accurate..much easier me feels

small time frame is all about getting right support or restistance and if not able to ..gonna get kicked hard.

good job thou spotting it bro
The main reason I trade off smaller tf is because I don't like big drawdown.. I look on the higher tf first and then look at my m15 and h1 for entry.
Patience + Discipline - Greed = Success
  • #121,869
  • Feb 19, 2009 8:24am Feb 19, 2009 8:24am
Dow futures are up 125....lets see if USD finally starts to gain a lil strength
  • #121,870
  • Feb 19, 2009 8:25am Feb 19, 2009 8:25am
I think it shows potential Daffy,but it would need to break and be tested to be real.Worth bearing in mind I think.:nerd:

Quoting daffy
Here's something interesting to look at on the daily sterling index. Does that look like an inverted head and shoulders forming ...? Based on that, I would be bullish on the pound until at least we hit the horizontal line going across.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #121,871
  • Feb 19, 2009 8:26am Feb 19, 2009 8:26am
Quoting alfamichi
for those of us that shorted @ 1.4341....are we save..with SL @ 1.4441
Probably not. Depends on your platform ask price.

I had a sell limit filled at 1.4425 w/ s/l up at 1.4475.

We'll see if 1.4445 is the top.


Dr. D.
  • #121,872
  • Feb 19, 2009 8:29am Feb 19, 2009 8:29am
Quoting gammase1
Same thing happened to me about a year ago, Navin. My then girlfriend was at my house when I was showing her my charting tools and explaining how top traders use certain indicators, along with detailed fundamental analysis, to source very profitable set ups - basically I was showing off in an attempt to impress her. I then placed a position, impressing her with the size(!), acting very relaxed about the whole process. Well, this cockiness costed me £500, as my master trade was stopped in in under 20 minutes!!!
yes i know, its ego and whenever u think yur right thats when the market jumps on u..i learned one thing thou, without mm this game is pointless unless u looking for pain
  • #121,873
  • Feb 19, 2009 8:30am Feb 19, 2009 8:30am
looks like its waiting for markets to open in U.S. to confirm Dow heading north....making way for nice drop in GBPUSD ..lets hope so
  • #121,874
  • Feb 19, 2009 8:32am Feb 19, 2009 8:32am
Quoting nAVIN2007
yes i know, its ego and whenever u think yur right thats when the market jumps on u..i learned one thing thou, without mm this game is pointless unless u looking for pain
An expensive education!!
  • #121,875
  • Feb 19, 2009 8:34am Feb 19, 2009 8:34am
Quoting Bones
So true Nav how you getting on with the James 16 material?
very good bro! maybe to good, i had great results and i droped my guard now the market is killing me, i thought take the material and try and do it on smaller time frame but the bounces and where i have the flips are not quite in sink...kinda experimental phase...

i went short trying to squeeze extra pips and market is sqeezing me
  • #121,876
  • Feb 19, 2009 8:35am Feb 19, 2009 8:35am
Quoting Infinity
The main reason I trade off smaller tf is because I don't like big drawdown.. I look on the higher tf first and then look at my m15 and h1 for entry.

i have to admit i havent been doing this...gonna start thou
  • #121,877
  • Feb 19, 2009 8:43am Feb 19, 2009 8:43am
Quoting Infinity
The main reason I trade off smaller tf is because I don't like big drawdown.. I look on the higher tf first and then look at my m15 and h1 for entry.

What's up brother? Did you get the ride to 4350? It was sweet! I wish I would have been awake to manage the trade to the top.
Just digging in the trenches like everyone else!
  • #121,878
  • Feb 19, 2009 8:46am Feb 19, 2009 8:46am
Quoting fourxtrader
Just closed a portion of my earlier long entry
from 1.4251 @ 1.4385 for 134 pips.

Moved the S/L up to 1.4351 just above the
R2 (1.4340) for a secure 100 pips. Target
still @ R3 (1.4419).

Have a pending buy stop at 1.4335 for another
long just under the R2 (tight 15 pip S/L) for a
ride back up to...

From 4 Hrs ago:

I didn't get that long from 1.4335 (missed it by 2 pips)
from just below the R2 so I missed the last leg up

now I'm in a short at 1.4425 and relaxed the S/L to 50 pips.

Now sitting right on R3 1.4419 (from my charts).

Watching for the next move and candle close on the hourly (and 4hr).

Dr. D.
  • #121,879
  • Feb 19, 2009 8:46am Feb 19, 2009 8:46am
Im guessing, but, Infinity has been trading longer than us,or just has good eye,5 min charts are no-no been there done it.
Daily tho scary at first you will always get big picture .....
Jim would turn in his grave ,lol




Quoting nAVIN2007
i have to admit i havent been doing this...gonna start thou
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #121,880
  • Feb 19, 2009 8:51am Feb 19, 2009 8:51am
Quoting Bones
Im guessing but Infinity has been trading longer than us,or just has good eye,5 min charts are no-no been there done it.
Daily tho scary at first you will always get big picture .....
Jim would turn in his grave ,lol
oh yes, nope im not going there, im just experimenting but when i go live i will trade 4hr up to me i saw this move up yesterday, jim is right affinity and EO have systems and have been trading a lot longer and there experience has developed them to this stage its definately not easier to trade of alone ( maybe impossible) but for refined entry it could be great..this is what im trying to develop
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