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Cable Update (GBPUSD)

  • #134,481
  • May 27, 2009 11:08pm May 27, 2009 11:08pm
Quoting kingindian
big drop...long from 5912
targetting 1600
sl 5870

stoch and rsi already over.
trend still up on h1,d1
already out....while it on 5942, i moved SL to 5930 and hit...its ok got some profit.
- Always pray on your trading - God know the best for everyone
  • #134,482
  • May 27, 2009 11:20pm May 27, 2009 11:20pm
Guys Trust me,.... i have been trading sucessfully for the past 3 years and the best way to trade successfully is by avoiding indicators. Just use the price... I know it sounds crude but thats the best way... forget all these indicators and fanciful charts... they lead to no wins but losses... Thats my advice for all... HAPPY TRADING
  • #134,483
  • May 27, 2009 11:22pm May 27, 2009 11:22pm
Quoting myteax
Guys Trust me,.... i have been trading sucessfully for the past 3 years and the best way to trade successfully is by avoiding indicators. Just use the price... I know it sounds crude but thats the best way... forget all these indicators and fanciful charts... they lead to no wins but losses... Thats my advice for all... HAPPY TRADING
care to elaborate on just using price?
Keep It Simple Stupid
  • #134,484
  • May 27, 2009 11:25pm May 27, 2009 11:25pm
Quoting myteax
Guys Trust me,.... i have been trading sucessfully for the past 3 years and the best way to trade successfully is by avoiding indicators. Just use the price... I know it sounds crude but thats the best way... forget all these indicators and fanciful charts... they lead to no wins but losses... Thats my advice for all... HAPPY TRADING
They wont learn until they want to learn, so if they want to use indicators let em, if they want to advance a couple of levels they`ll start using PA.

Airmos
simple....
  • #134,485
  • May 27, 2009 11:26pm May 27, 2009 11:26pm
Quoting Alastair
care to elaborate on just using price?

Learn Price action and also put more emphasis on support and resistance break out... thats the most important.
  • #134,486
  • May 27, 2009 11:28pm May 27, 2009 11:28pm
Quoting myteax
Guys Trust me,.... i have been trading sucessfully for the past 3 years and the best way to trade successfully is by avoiding indicators. Just use the price... I know it sounds crude but thats the best way... forget all these indicators and fanciful charts... they lead to no wins but losses... Thats my advice for all... HAPPY TRADING

Can you post your Price Action system plse.
Thnks
  • #134,487
  • May 27, 2009 11:28pm May 27, 2009 11:28pm
Quoting myteax
Guys Trust me,.... i have been trading sucessfully for the past 3 years and the best way to trade successfully is by avoiding indicators. Just use the price... I know it sounds crude but thats the best way... forget all these indicators and fanciful charts... they lead to no wins but losses... Thats my advice for all... HAPPY TRADING
Sure. Price moves up go long. Price moves down go short. Ride the profits, cut losses short ... So explain price action so others can move up a couple of notches.
  • #134,488
  • May 27, 2009 11:35pm May 27, 2009 11:35pm
Quoting myteax
Learn Price action and also put more emphasis on support and resistance break out... thats the most important.
ok ook ok, i had a really blond moment there!
PA sweet!
Keep It Simple Stupid
  • #134,489
  • May 27, 2009 11:35pm May 27, 2009 11:35pm
Quoting myteax
Learn Price action and also put more emphasis on support and resistance break out... thats the most important.
How do we know, at price it's true resistance and support?
  • #134,490
  • May 28, 2009 12:09am May 28, 2009 12:09am
Quoting biax
How do we know, at price it's true resistance and support?
Take a 1 hour chart.. the highest point of the hour is the resistant point of the next hourly bar same goes for the support point too...
  • #134,491
  • May 28, 2009 12:10am May 28, 2009 12:10am
Right now the price action is telling a short....
  • #134,492
  • May 28, 2009 12:17am May 28, 2009 12:17am
Quoting myteax
Take a 1 hour chart.. the highest point of the hour is the resistant point of the next hourly bar same goes for the support point too...
on candlesticks...are u saying from the spikes high/low of the last hour candle? That is your support resistance for the next?
  • #134,493
  • May 28, 2009 12:18am May 28, 2009 12:18am
Quoting 4xHero
on candlesticks...are u saying from the spikes high/low of the last hour candle? That is your support resistance for the next?
Abosolutely YES...
  • #134,494
  • May 28, 2009 12:21am May 28, 2009 12:21am
Quoting myteax
Right now the price action is telling a short....
I agree.
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  • #134,495
  • May 28, 2009 12:22am May 28, 2009 12:22am
Quoting myteax
Right now the price action is telling a short....
But your not explaining price action to others. How does price action tell you this?
  • #134,496
  • May 28, 2009 12:25am May 28, 2009 12:25am
morning all
  • #134,497
  • May 28, 2009 12:26am May 28, 2009 12:26am
Quoting myteax
Abosolutely YES...
more often than not the previous hourly candle hi/lo will only be broken by a few pips. Tight stops run great risks of being severely whipped if this way of defining S/R is used without due care.
TRADE FOR SWAP
  • #134,498
  • May 28, 2009 12:27am May 28, 2009 12:27am
Quoting free4440273
morning all

Good morning Free. Ready for some trading?
  • #134,499
  • May 28, 2009 12:27am May 28, 2009 12:27am
Quoting myteax
Right now the price action is telling a short....
  • #134,500
  • May 28, 2009 12:28am May 28, 2009 12:28am
Quoting Forexpreneur
Good morning Free. Ready for some trading?
Oh yes!!!
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