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Cable Update (GBPUSD)

  • #127,561
  • Mar 20, 2009 1:15pm Mar 20, 2009 1:15pm
Quoting rgitt05
Ok Tmac,

"Show me the money" as your state saying.

You come in here critcize other people on this board but show no contribution for the newbies and the board..Maybe you can help some lost traders in here how to trade...It may help you gain some respect...

i will say one thing, tmac is a friend and i can honestly 100% say he is very generous and supportive and is a trader where in my humble view up there with the very best in here if not the best, very few traders are consistant and have the ability to quadrouple an account in no time..he has tons of respect from the traders.

without his help id have given up long time..i just wanted to say this cause i totally disagree with the comment..

some guys in here have ability out of this world, and are extremely humble u would never know, he is one of them
  • #127,562
  • Mar 20, 2009 1:15pm Mar 20, 2009 1:15pm
Quoting uut
so people . . next week we will have a bearish trend, wont we?

i just feel it
Here's what I see and what I plan to do.

First off, today I wanted to buy near 4360 but we did not make it there.

Now to this chart.

Cable made a higher low (green label) but failed to make a higher high just recently and also double topped. We are getting bullish, but once we are clear of the top rectangular resistance zone, we have to be careful. Also, where we stalled was spot on the 161.8 extension, along with some other sources of resistance including a 50% retracement and a weekly M6 pivot.

The DOW fell a bit today, and I feel this rally has stalled and a pullback as far as 7000 is possible (50% and resistance). The dollar index looks way over sold as well.

My preference now is to buy around 4350 next week (daily 55 ema) and as low as 4240 (a 38.2 and 50 from two different fibs) and even the lower rectangular support zone. Price action will dictate where exactly I enter. This also is in anticipation that 1.4660 will be taken out and my first target will be 4830.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 49 KB
  • #127,563
  • Mar 20, 2009 1:20pm Mar 20, 2009 1:20pm
Quoting kimd
Pipland, I noticed that as well. Seems like a lot of rules are being broken this week.
Seems like the cable will catch up eventually (as I speak, oops write)
Yeah it might also have something to do with the renewed interest in gold silver and oil
  • #127,564
  • Mar 20, 2009 1:25pm Mar 20, 2009 1:25pm
ive been trading demo for months and been havng plenty of success today i got cheesed off and thought i need money, tried a live trade lost 100 pips in minutes...

this is a game where any1 can lose u only have to get it wrong and any1 can do this at anytime...its not a bearing on yur trading ability unless u consistantly wrong of course
  • #127,565
  • Mar 20, 2009 1:30pm Mar 20, 2009 1:30pm
Quoting nAVIN2007
ive been trading demo for months and been havng plenty of success today i got cheesed off and thought i need money, tried a live trade lost 100 pips in minutes...

this is a game where any1 can lose u only have to get it wrong and any1 can do this at anytime...its not a bearing on yur trading ability unless u consistantly wrong of course
You should be entering trades that require no more than a 30 pip SL.
  • #127,566
  • Mar 20, 2009 1:41pm Mar 20, 2009 1:41pm
Wow,

Today was great... first buy signal was @ 4434 (euro session) with a TP of the last HIGH which was 4588.. and WOW! Did it ever just bounce right off of that or what!

Shorted, took small gains, noticed it bounced off 4396 as support, 4504 as resistance..

Shorted @4504, went long @4396 (STRONG BUY AREAS) the next time around.. got up to almost resistance again.. closed my long order, put a tight SL above resistace (16 pips) and it consolidated for awhile and dropped another 60+ pips..

Man, today was awesome...
lowest draw down possible please.
  • #127,567
  • Mar 20, 2009 1:53pm Mar 20, 2009 1:53pm

Ready to visit 3900 again?
Thank You
  • #127,568
  • Mar 20, 2009 2:10pm Mar 20, 2009 2:10pm
I have to agree Nav,as usual well put.
Unfortunately ,although Abu has proved his ability to analysis his MM can only be described as reckless,
I can tell you I have done this many times myself in the past on my learning journey,,but never with someone else's money.
I do feel sorry for Chuckpumpkin.
Sorry Abu I have to be truthful.







Quoting nAVIN2007
i will say one thing, tmac is a friend and i can honestly 100% say he is very generous and supportive and is a trader where in my humble view up there with the very best in here if not the best, very few traders are consistant and have the ability to quadrouple an account in no time..he has tons of respect from the traders.

without his help id have given up long time..i just wanted to say this cause i totally disagree with the comment..

some guys in here have ability out of this world, and are extremely humble u would never know, he is one of...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,569
  • Mar 20, 2009 2:22pm Mar 20, 2009 2:22pm
Gbp/usd is heading for 1.2760 from here.
  • #127,570
  • Mar 20, 2009 2:40pm Mar 20, 2009 2:40pm
Quoting chimex
Gbp/usd is heading for 1.2760 from here.
And your reasoning behind this???????


HOLLA
  • #127,571
  • Mar 20, 2009 2:42pm Mar 20, 2009 2:42pm
I don't know Chuckpumpkin but I think he's an amateur. Without Abu I guess he would loose all his account. %95 of the beginners do so. This is trade and there is both loss and profit, it contains both risk and big rewards. What Abu should do is to analyse the other pairs like EURO/USD. I trade mainly cable but just focusing on cable charts and data is too dangerous.

Quoting Bones
I have to agree Nav,as usual well put.
Unfortunately ,although Abu has proved his ability to analysis his MM can only be described as reckless,
I can tell you I have done this many times myself in the past on my learning journey,,but never with someone else's money.
I do feel sorry for Chuckpumpkin.
Sorry Abu I have to be truthful.
  • #127,572
  • Mar 20, 2009 2:50pm Mar 20, 2009 2:50pm
Quoting Bones
I have to agree Nav,as usual well put.
Unfortunately ,although Abu has proved his ability to analysis his MM can only be described as reckless,
I can tell you I have done this many times myself in the past on my learning journey,,but never with someone else's money.
I do feel sorry for Chuckpumpkin.
Sorry Abu I have to be truthful.
I agree with you here Bones...
Patience + Discipline - Greed = Success
  • #127,573
  • Mar 20, 2009 3:58pm Mar 20, 2009 3:58pm
Quoting nAVIN2007
ive been trading demo for months and been havng plenty of success today i got cheesed off and thought i need money, tried a live trade lost 100 pips in minutes...

this is a game where any1 can lose u only have to get it wrong and any1 can do this at anytime...its not a bearing on yur trading ability unless u consistantly wrong of course
Nav
you just picked the wrong day, a huge run up,so needs a breather at least...
but i am sure you will make it back.....pop in Hussins thread once in a while...Tony picked up a few good trades...this week

baz
  • #127,574
  • Mar 20, 2009 3:58pm Mar 20, 2009 3:58pm
You are only giving a personally opinion...If Tmac is an elite trader and is very informative about forex, maybe he should share some of his wisdom on this board to help those newbies...This board moral is bashing everyone creditability and condeming those who are trying to contribute to this forum...


Quoting nAVIN2007
i will say one thing, tmac is a friend and i can honestly 100% say he is very generous and supportive and is a trader where in my humble view up there with the very best in here if not the best, very few traders are consistant and have the ability to quadrouple an account in no time..he has tons of respect from the traders.

without his help id have given up long time..i just wanted to say this cause i totally disagree with the comment..

some guys in here have ability out of this world, and are extremely humble u would never know, he is one...
[
  • #127,575
  • Edited Mar 21, 2009 1:23am Mar 20, 2009 4:28pm | Edited Mar 21, 2009 1:23am
Content removed.

"The lips of wisdom are closed, except to the ears of Understanding"
The Kybalion
  • #127,576
  • Mar 20, 2009 5:03pm Mar 20, 2009 5:03pm
I agree its always down to the individual investor ,not looking to blame but it it is a fact that the account has been traded outside safe limits.
I see many looking to sell but always ask why is it necessary when so much can be made individually????


Quoting fxdoc
People who come to a Public Forum to search.............

Blaming the other guy is unfairly escaping one' s own mistakes in the first place.

End of Story.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,577
  • Mar 20, 2009 5:04pm Mar 20, 2009 5:04pm
If you can really trade
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,578
  • Mar 20, 2009 5:08pm Mar 20, 2009 5:08pm
Take Hussin for example he would never ever try to sell you something.
A true gentleman who wants to help others
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,579
  • Mar 20, 2009 5:22pm Mar 20, 2009 5:22pm
better to be Simon Cowell rather than Pauler Abdul....

Quoting Bones
I have to agree Nav,as usual well put.
Unfortunately ,although Abu has proved his ability to analysis his MM can only be described as reckless,
I can tell you I have done this many times myself in the past on my learning journey,,but never with someone else's money.
I do feel sorry for Chuckpumpkin.
Sorry Abu I have to be truthful.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,580
  • Edited Mar 21, 2009 1:32am Mar 20, 2009 5:50pm | Edited Mar 21, 2009 1:32am
If you decide to jump from a bridge in a river and can't swim dont blame the water if you get into trouble.

Other content removed.

"The lips of wisdom are closed, except to the ears of Understanding"
The Kybalion
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