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Cable Update (GBPUSD)

  • #123,101
  • Feb 24, 2009 9:52am Feb 24, 2009 9:52am
Quoting Infinity
We are twins!!
Yes we are!!
Just digging in the trenches like everyone else!
  • #123,102
  • Feb 24, 2009 9:52am Feb 24, 2009 9:52am
I'm tightening my sl, the hourly candle just bounced hard off the 50.0 fibs.
Thank You
  • #123,103
  • Feb 24, 2009 9:54am Feb 24, 2009 9:54am
Quoting eohater
Good job! I've closed half my position for 50, the rest is at +3.


I will close some too.
  • #123,104
  • Feb 24, 2009 9:54am Feb 24, 2009 9:54am
Quoting eohater
Good job bro!
Quoting manize
Nice analysis bro !
Patience + Discipline - Greed = Success
  • #123,105
  • Feb 24, 2009 9:55am Feb 24, 2009 9:55am
Quoting eohater
It is critical in deed bro. So critical, I've opened a long position at 4399. Let's see how she works out.
Nice move, are you still in? I just took a SELL at 1.4441, expecting a bounce back down of Support at 1.4448.
  • #123,106
  • Feb 24, 2009 9:57am Feb 24, 2009 9:57am
Quoting thirtypips
Nice move, are you still in? I just took a SELL at 1.4441, expecting a bounce back down of Support at 1.4448.
I'm still in, I've taken 50 off the table, the rest is at +3. I'm targeting 4500 area or the 15m 50ema
Just digging in the trenches like everyone else!
  • #123,107
  • Feb 24, 2009 10:03am Feb 24, 2009 10:03am
I did'nt like the close... I still have some on with stop at +2 but I may be stopped out before it goes up... If I get stopped out I will evaluate price action for reentry...
Patience + Discipline - Greed = Success
  • #123,108
  • Feb 24, 2009 10:06am Feb 24, 2009 10:06am
My 1 hr is undecisive but my 4hr closed 5 mins ago bearish
Attached Image (click to enlarge)
Click to Enlarge Name: bearish.gif Size: 50 KB
  • #123,109
  • Feb 24, 2009 10:06am Feb 24, 2009 10:06am
For those wondering why I took a long position. Notice the candle circled in green. I took the long entry off the following candle. SL was on the other side of the bottom wick of the candle circled in green. Took 50 pips off the table and moved the rest to +3. I willl take this setup everytime without hesitation.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 140 KB
Just digging in the trenches like everyone else!
  • #123,110
  • Feb 24, 2009 10:10am Feb 24, 2009 10:10am
My short closed +100 pips,
i a,m short again from 4420, tp 4320, sl 4550
  • #123,111
  • Feb 24, 2009 10:11am Feb 24, 2009 10:11am
Quoting PipLand
My 1 hr is undecisive but my 4hr closed 5 mins ago bearish
Correct, the 1h was an indecisive close. Your 4h bearish candle looks like my 4h candle that closes in 50m. If I should get taken out, I will evaluate another long entry.
Just digging in the trenches like everyone else!
  • #123,112
  • Feb 24, 2009 10:13am Feb 24, 2009 10:13am
Quoting eohater
For those wondering why I took a long position. Notice the candle circled in green. I took the long entry off the following candle. SL was on the other side of the bottom wick of the candle circled in green. Took 50 pips off the table and moved the rest to +3. I willl take this setup everytime without hesitation.
Patience + Discipline - Greed = Success
  • #123,113
  • Feb 24, 2009 10:14am Feb 24, 2009 10:14am
Quoting Infinity
I have a feeling the rest of my position is going to get gobbled up. It's come within 2 pips of my SL.
Just digging in the trenches like everyone else!
  • #123,114
  • Feb 24, 2009 10:15am Feb 24, 2009 10:15am
Quoting PipLand
My 1 hr is undecisive but my 4hr closed 5 mins ago bearish
It is bearish indeed but it did not close below the h4 50ema.. that is the area I was watching.... I am still in btw... price went to within a pip of my sl... may still take me out though....
Patience + Discipline - Greed = Success
  • #123,115
  • Feb 24, 2009 10:15am Feb 24, 2009 10:15am
Eo how you draw this suport and resistance lines on you chart.
Are they based on fibs pivots or somting else.

Thnx
  • #123,116
  • Feb 24, 2009 10:16am Feb 24, 2009 10:16am
Just closed my 1.4441 SELL @ 1.4403, a nice 38 pips.

Now looking for another Sell op if she bounces back up.
  • #123,117
  • Feb 24, 2009 10:17am Feb 24, 2009 10:17am
Quoting eohater
For those wondering why I took a long position. Notice the candle circled in green. I took the long entry off the following candle. SL was on the other side of the bottom wick of the candle circled in green. Took 50 pips off the table and moved the rest to +3. I willl take this setup everytime without hesitation.
Hi eohater

Was that level 1 support line on your chart drawn after the pin candle formed, or was it there before hand? Also, do you use fibs? Also thanks for explaining your setups, always very helpful.
  • #123,118
  • Feb 24, 2009 10:18am Feb 24, 2009 10:18am
Quoting brokerslo
Eo how you draw this suport and resistance lines on you chart.
Are they based on fibs pivots or somting else.

Thnx
The ones on my chart are drawn automatically by my software. I don't follow those like I do my MA's. They are close to where I would draw them, but I find that I would actually draw them higher or lower than my software.
Just digging in the trenches like everyone else!
  • #123,119
  • Feb 24, 2009 10:21am Feb 24, 2009 10:21am
Quoting pmn100
Hi eohater

Was that level 1 support line on your chart drawn after the pin candle formed, or was it there before hand? Also, do you use fibs? Also thanks for explaining your setups, always very helpful.
The support line moved after the close of the 15m hammer that I had circled on my chart. I don't use fibs, I'm studying them, but I'm not efficient with them.
Just digging in the trenches like everyone else!
  • #123,120
  • Feb 24, 2009 10:28am Feb 24, 2009 10:28am
Eohater what trading software do you use and what broker do you use
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