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Cable Update (GBPUSD)

  • #122,681
  • Feb 23, 2009 2:40am Feb 23, 2009 2:40am
i think thats it for me today
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  • #122,682
  • Feb 23, 2009 3:02am Feb 23, 2009 3:02am
Quoting Abuawad
i think thats it for me today
great 185 pips man
Twitter: @forexpokerpro
  • #122,683
  • Feb 23, 2009 3:13am Feb 23, 2009 3:13am
Quoting AJspeed
Hey guys and Gals,

Just in case nobody has caught this, we are at the Daily 61.8% Fib level from the 2-10-09 move down. That and being at the top of that Half Assed Wedge we may be in for a nice little short to around the 1.4100 level, ( Approx. 500 Pips )

Just my 2 cents

AJ
Morninhg, AJ
This is what I am confused every time.
Why did you started from 2-10? If you would started from 1-24, then it looks like retracement is finished, and she is getting up again?
I am still not clear where to start Fibs. Do you mind detail it a liitle for that particular moment?
Thanks
  • #122,684
  • Feb 23, 2009 3:17am Feb 23, 2009 3:17am
Quoting sofia101
Nothing major is happening I am going to sleep ,tired of scalping,good luck to all
...But i will be in the market now so expect MAJOR moves now.I have thousands in my account(but dont tell anyone bcos they are just cents) But u can also go to sleep....we will be awake to cath the pips....awake to tell the stories. I hope u like stories?
  • #122,685
  • Feb 23, 2009 3:18am Feb 23, 2009 3:18am
Buy 1.4600/10 Stop 1.4450 Target 1.49
Major pivots broken to upside showing huge momentum breaks for next two days of powerful up trend. Dont buck market go with her and be a buyer on dips. Use low gear and wait for market to come back to you if your entry is not precise. Expect fundy's to be dollar negitive to fuel the fire.
  • #122,686
  • Feb 23, 2009 3:36am Feb 23, 2009 3:36am
Prof, I think the highest it will go up to 1.4690 then it will go to south
  • #122,687
  • Feb 23, 2009 3:36am Feb 23, 2009 3:36am
Quoting Professor4x
Buy 1.4600/10 Stop 1.4450 Target 1.49
Major pivots broken to upside showing huge momentum breaks for next two days of powerful up trend. Dont buck market go with her and be a buyer on dips. Use low gear and wait for market to come back to you if your entry is not precise. Expect fundy's to be dollar negitive to fuel the fire.
Agree, but I bought at from 1.14545. And I allso hope GBP touch 1.5 in next month.
The market is always right, but it is not never wrong!!!
  • #122,688
  • Edited 4:07am Feb 23, 2009 3:39am | Edited 4:07am
Quoting Myman
Prof, I think the highest it will go up to 1.4690 then it will go to south
That's what makes a market "Difference of Opinion"
  • #122,689
  • Feb 23, 2009 3:40am Feb 23, 2009 3:40am
Quoting guardians
Agree, but I bought at from 1.14545. And I allso hope GBP touch 1.5 in next month.
Great entry and use stack to maximize profits. Excellent opportunity.
  • #122,690
  • Feb 23, 2009 3:44am Feb 23, 2009 3:44am
Quoting Professor4x
Great entry and use stack to maximize profits. Excellent opportunity.
Hello. Could you just clarify what 'stack' means exactly for those of us who don't know. Cheers
  • #122,691
  • Feb 23, 2009 3:45am Feb 23, 2009 3:45am
Scorpio did u enter the trade,i did at 4610
  • #122,692
  • Feb 23, 2009 3:48am Feb 23, 2009 3:48am
Quoting linleysound
Hello. Could you just clarify what 'stack' means exactly for those of us who don't know. Cheers
"stack" like a clock profit by stop loss over entry, but not close position. Untill the trend is really changed.
The market is always right, but it is not never wrong!!!
  • #122,693
  • Feb 23, 2009 3:51am Feb 23, 2009 3:51am
hi

we need cable to break 1.4665 at least to confirm up ... or we see a correct move
  • #122,694
  • Feb 23, 2009 3:52am Feb 23, 2009 3:52am
Quoting Professor4x
That's what makes a market "Differnce of Opinion"
....And this creates the fun in trading for many out here!http://www.forexfactory.com/images/icons/icon14.gif
  • #122,695
  • Feb 23, 2009 3:58am Feb 23, 2009 3:58am
Quoting deboooo2005
hi

we need cable to break 1.4665 at least to confirm up ... or we see a correct move
Agree, if not cable could return base again, tonight.
The market is always right, but it is not never wrong!!!
  • #122,696
  • Feb 23, 2009 4:04am Feb 23, 2009 4:04am
[quote=linleysound;2557986]Hello. Could you just clarify what 'stack' means exactly for those of us who don't know. Cheers[/q
A PYRAMID or STACK TRADE is similar to trend trade, while stacking at different break points, with 4:1 Leverage on entry, 2:1 Leverage on break point, and 1:1 Leverage, to create pyramid, while looking for a target. This trade requires good risk management, discipline, and patience, in order for market to hit target. It keeps your initial entry well below market, controlling your risk by adjusting stop to original entry which eliminates risk on that position and looks to maximize return for next directional break within trend channel. This trade reduces your downside to a minimum due to partial entry while at the same time maximizing your return and rewarding you for correct trend identified.[/font]

By doing this correctly it will keep your losses to only initial entry, until you realize break, and once that happens with the next stack you'll be keeping your entry price low enough below the trend line, to realize your next move and tolerate a wider trading range. One more break and you realize profit in excess of 6.9% per trade and reduce losses to only .8% per trade. If you can do this successfully, it is possible to make over 174% annually.

Pyramid Stacking, is purchasing another position to keep average entry well below market, adjusting stop to break even, expecting a further break to hit target. You just risk what was made already for larger gain.[/font]
  • #122,697
  • Feb 23, 2009 4:10am Feb 23, 2009 4:10am
Lets Bring Back Gaza..........oh Gaza Were Ar Thou?
  • #122,698
  • Feb 23, 2009 4:13am Feb 23, 2009 4:13am
Quoting deboooo2005
hi

we need cable to break 1.4665 at least to confirm up ... or we see a correct move
Agree with this, I have 1.4660 down as the 38.2 fib of the move from 8th - 23rd Jan
  • #122,699
  • Feb 23, 2009 4:16am Feb 23, 2009 4:16am
Quoting PipLand
Agree with this, I have 1.4660 down as the 38.2 fib of the move from 8th - 23rd Jan
Nothing goes straight up and have to tolerate equity swings. The trend is up but the market still has to trade. Hear this alot from newbies and you must tolerate drawdowns and equity swings to be a successful trader. Of course there has to be a retracement some where so pair can change hands for new foundation and next owner to make money.
  • #122,700
  • Feb 23, 2009 4:17am Feb 23, 2009 4:17am
Short entry at 1.4640 SL: 1.4700 TP 1.4430

taking this down...placing +BE at 1.4620 and lower...
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