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Cable Update (GBPUSD)

  • #136,241
  • Jun 9, 2009 7:55am Jun 9, 2009 7:55am
Quoting Ges
Jack why from 85? isnt 6305 or 30 better?
that was just where i planned to short from .. hit BE once and now am short from 6288, and that stop is at BE .. im activipating a higher price but also anticipating not breaking 6300

6305 would be a very risky short entry
  • #136,242
  • Jun 9, 2009 7:58am Jun 9, 2009 7:58am
I short @ 6288 sl @6345 let see that i can get 11 pips back or not Jack
I short b/c u/j hit 100 hour MA lets see
but still risky b/c eur/gbp is going down to 68.8% @8500.

still wait for long around 6145
  • #136,243
  • Jun 9, 2009 8:00am Jun 9, 2009 8:00am
lol i guess i am the only one who is long
  • #136,244
  • Jun 9, 2009 8:10am Jun 9, 2009 8:10am
Long 1.6288 Sl 1.6180 TP. 1.66xx
  • #136,245
  • Jun 9, 2009 8:12am Jun 9, 2009 8:12am
Quoting deryworlds
Long 1.6288 Sl 1.6180 TP. 1.66xx
finally someone with balls.
this will get higher by tomorrow and thursday.
  • #136,246
  • Jun 9, 2009 8:27am Jun 9, 2009 8:27am
i beleive they will be correction to 6190 @ 6289
  • #136,247
  • Jun 9, 2009 8:28am Jun 9, 2009 8:28am
Quoting Bernanke_Sr
finally someone with balls.
this will get higher by tomorrow and thursday.
where are u long from .. i was from 6000
  • #136,248
  • Jun 9, 2009 8:29am Jun 9, 2009 8:29am
Quoting deryworlds
Long 1.6288 Sl 1.6180 TP. 1.66xx
why would you buy near resistance?
  • #136,249
  • Jun 9, 2009 8:30am Jun 9, 2009 8:30am
Quoting yahzeex
i beleive they will be correction to 6190 @ 6289
for me now top @ 6330 bottom 6145-80
  • #136,250
  • Jun 9, 2009 8:33am Jun 9, 2009 8:33am
Quoting Bernanke_Sr
finally someone with balls.
this will get higher by tomorrow and thursday.
im sorry but that 6288 long was a very stupid trade.. he bought from me, so thank you

i dont get how people buy after the market has gone up? it makes more sense to let the market sell off and then buy near support ... increases your chances to get a winning trade

he may get in profit but if he always trades like this i bet your he will get a margin call very soon
  • #136,251
  • Jun 9, 2009 8:44am Jun 9, 2009 8:44am
Quoting jack.canadia
im sorry but that 6288 long was a very stupid trade.. he bought from me, so thank you

i dont get how people buy after the market has gone up? it makes more sense to let the market sell off and then buy near support ... increases your chances to get a winning trade

he may get in profit but if he always trades like this i bet your he will get a margin call very soon
Well, his kinda trading's called breakout, yours countertrend or fades...and either one could be stupid at times...there're no generalizations possible...
Hear the music before the song is over ...
  • #136,252
  • Jun 9, 2009 8:45am Jun 9, 2009 8:45am
Quoting jack.canadia
where are u long from .. i was from 6000
i entered long at 1.6275.
if this hour can not go past above lets say 1.6290ish or something like that, than i will close my order and sell.
i can break even or loose 4-5 pips on my long order if the market turns south.
but than aiming a quick 20-25 pips going south.
  • #136,253
  • Jun 9, 2009 8:53am Jun 9, 2009 8:53am
Quoting jack.canadia
im sorry but that 6288 long was a very stupid trade.. he bought from me, so thank you

i dont get how people buy after the market has gone up? it makes more sense to let the market sell off and then buy near support ... increases your chances to get a winning trade

he may get in profit but if he always trades like this i bet your he will get a margin call very soon
I see what you mean..

What of the resistance you Mean Jack ? while I saw this Dynamic market
no One can be Sure !

Resistances1,6200 - 1,6340Supports1,6000 - 1,5800Long term chart
  • #136,254
  • Jun 9, 2009 8:53am Jun 9, 2009 8:53am
Quoting wormboy
lol, how is my empty chart difficult to interpret my friend?
it's been explained at the other thread btw, you'll have to read through it if you're interested
Cheers mate. I'll browse through the thread, backwards. Have a good night.
  • #136,255
  • Jun 9, 2009 8:57am Jun 9, 2009 8:57am
Quoting GlobalMacro
Well, his kinda trading's called breakout, yours countertrend or fades...and either one could be stupid at times...there're no generalizations possible...
In breakout trading, you let the break occur, and then buy the pullback to SUPPORT! Conservative entries are best for this method. Never anticipate a break .. you may get lucky, or even catch a false break. Let the market show you that the level was of some importance.

My style is fading after long runs and also trend trading, like my long last night at 6000.

He can trade how ever he pleases. Id just hate for other people in here that are newer to fall victim to non-conservative methods, hence why my trades have somewhat of a 15-20 pip SL and my SL is BE asap, to reduce risk and see no drawdown.
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  • #136,256
  • Jun 9, 2009 9:00am Jun 9, 2009 9:00am
Quoting jack.canadia
In breakout trading, you let the break occur, and then buy the pullback to SUPPORT! Conservative entries are best for this method. Never anticipate a break .. you may get lucky, or even catch a false break. Let the market show you that the level was of some importance.

My style is fading after long runs and also trend trading, like my long last night at 6000.

He can trade how ever he pleases. Id just hate for other people in here that are newer to fall victim to non-conservative methods, hence why my trades have somewhat of a 15-20 pip SL and...
I just realized I used that chart to get long last night. Patience is key.

A breakout 'clears' out all the sellers just above the level ..as they drive it down, many buyers await them at support, and this time arond with less sellers in the mix, price rises farther and faster.
  • #136,257
  • Jun 9, 2009 9:02am Jun 9, 2009 9:02am
closed my long at BE and shorted the pair aiming 1.6165 in the long run.
However i still believe the pair will hit high 1.6400s by tomorrow or thursday.
  • #136,258
  • Jun 9, 2009 9:07am Jun 9, 2009 9:07am
Quoting jack.canadia
In breakout trading, you let the break occur, and then buy the pullback to SUPPORT! Conservative entries are best for this method. Never anticipate a break .. you may get lucky, or even catch a false break. Let the market show you that the level was of some importance.

My style is fading after long runs and also trend trading, like my long last night at 6000.

He can trade how ever he pleases. Id just hate for other people in here that are newer to fall victim to non-conservative methods, hence why my trades have somewhat of a 15-20 pip SL and...

In markets, especially aggressive ones, one doesn't always have the luxury of pullbacks...so one DOES have to be aggressive to ride the move. Also pullbacks don't always guarantee a good entry. A case in point G/J today ...
Hear the music before the song is over ...
  • #136,259
  • Jun 9, 2009 9:10am Jun 9, 2009 9:10am
Quoting GlobalMacro
In markets, especially aggressive ones, one doesn't always have the luxury of pullbacks...so one DOES have to be aggressive to ride the move. Also pullbacks don't always guarantee a good entry. A case in point G/J today ...
G/J is called the beast for a reason .. E/J doesnt respect its technicals that much either

More liquid pairs like G/U and E/U are better .. I wont go near G/J and i wouldnt recommend any newbie in here does
  • #136,260
  • Jun 9, 2009 9:12am Jun 9, 2009 9:12am
Quoting GlobalMacro
In markets, especially aggressive ones, one doesn't always have the luxury of pullbacks...so one DOES have to be aggressive to ride the move. Also pullbacks don't always guarantee a good entry. A case in point G/J today ...
If the market doesnt pullback, so be it!

You dont need to trade every single day to be a winner at this.

Look we had two today already! Two in one day, what more can u ask for.
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