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Cable Update (GBPUSD)

  • #136,941
  • Jun 12, 2009 7:49am Jun 12, 2009 7:49am
Damn just woke up, missed some down moves....
I use 4h/day chart to trade / 15min/1h to enter.
5min was awsum too, but need times.

I would hold my short from 6550 , got out and went sleep so miss my tp target.

How you guys doing?
  • #136,942
  • Jun 12, 2009 7:51am Jun 12, 2009 7:51am
Hi bears, what are your targets for today? 63?
  • #136,943
  • Edited 7:53am Jun 12, 2009 7:51am | Edited 7:53am
Quoting forexlion
why are girls always so dumb, hey you guys should trade with 4 hour trends and not 5 min market noise.

 

  1. if your plan is to make money in forex then 4 hour chart
  2. if your plan is to waste time then 5 minute is best for you.

And not to forget me and wormboy go back a long way, so for god's sake listen to him atleast.

Great Advice Bro!
I tried every time frame even 1 minute. Now sticking with 4 hour time only. Sometimes check lower timeframes if the said trend in 4 hour started in other timeframes.

Trading only in 4 hour and it giving me confidence.
We can see the bigger picture simply..

BTW, made some pips on gbp and euro, now shorting aud...
ABCD..
  • #136,944
  • Jun 12, 2009 7:54am Jun 12, 2009 7:54am
Quoting 4cfx
Hi bears, what are your targets for today? 63?
6317 and it better be fast cause I need to go.....
Hear the music before the song is over ...
  • #136,945
  • Jun 12, 2009 7:55am Jun 12, 2009 7:55am
I think a quick turn back 6385/6400-6420 then go back down again.
I'' watch out US stocks.
  • #136,946
  • Jun 12, 2009 7:56am Jun 12, 2009 7:56am
Quoting Angelina
Damn just woke up, missed some down moves....
I use 4h/day chart to trade / 15min/1h to enter.
5min was awsum too, but need times.
I dont use lower timeframe for entry.
Mine entry and analysis is based on 4 hour.

If trades go wrong, I check lower timeframe to see whats happening.
ABCD..
  • #136,947
  • Jun 12, 2009 8:00am Jun 12, 2009 8:00am
It retesting 38.2% fibo lying on 1.6375.
From my point it need to go 1.6250 area..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 20 KB
ABCD..
  • #136,948
  • Jun 12, 2009 8:01am Jun 12, 2009 8:01am
Quoting GlobalMacro
6317 and it better be fast cause I need to go.....
Well, this much is clear, it DOES NOT want to be fast...
Hear the music before the song is over ...
  • #136,949
  • Jun 12, 2009 8:06am Jun 12, 2009 8:06am
do anyone know which book is good for currency ?
  • #136,950
  • Jun 12, 2009 8:11am Jun 12, 2009 8:11am
Quoting GlobalMacro
Well, this much is clear, it DOES NOT want to be fast...
It's pausing before another dive down I think....
  • #136,951
  • Jun 12, 2009 8:12am Jun 12, 2009 8:12am
Quoting pipster98
do anyone know which book is good for currency ?
let me know when you find something worth it, in 4 years i never found anything worth reading
  • #136,952
  • Jun 12, 2009 8:21am Jun 12, 2009 8:21am
lol thanks
  • #136,953
  • Jun 12, 2009 8:23am Jun 12, 2009 8:23am
Quoting 4cfx
It's pausing before another dive down I think....
Was almost there just by 15 tiny pips...
Hear the music before the song is over ...
  • #136,954
  • Jun 12, 2009 8:23am Jun 12, 2009 8:23am
http://www.forexfactory.com/nfs/cust...tar45086_4.gifforexlion http://www.forexfactory.com/images/s...ser_online.gif
Professional Fx Trader from India
Member Since Sep 2008
http://www.forexfactory.com/images/misc/10+kt.gif 3,788 Posts

http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by pipster98 http://www.forexfactory.com/images/buttons/viewpost.gif
do anyone know which book is good for currency ?

let me know when you find something worth it, in 4 years i never found anything worth reading


so how is your trading?
  • #136,955
  • Jun 12, 2009 8:28am Jun 12, 2009 8:28am
Quoting GlobalMacro
Was almost there just by 15 tiny pips...
This is exactly why it's so annoying to take shorts in a bull retracement.
Hear the music before the song is over ...
  • #136,956
  • Jun 12, 2009 8:30am Jun 12, 2009 8:30am
Quoting welshguy2000
Long after that 1H & 4H closes:

Entry: 1.6445
TP: 1.6638
SL: 1.6210

I will be posting a video of this trade tomorrow, please subscribe to my youtube channel to receive daily updates.

Cheers WG
I closed this trade yesterday at 1.6550 (+108 pips) I have just uploaded the video reviewing the entry / exit reasons:

Inserted Video


Please rate / comment on the video over on youtube, any questions you have please ask.

Have a good weekend all, its been a good week for pips +384 pips

Cheers WG
  • #136,957
  • Jun 12, 2009 8:34am Jun 12, 2009 8:34am
Quoting GlobalMacro
This is exactly why it's so annoying to take shorts in a bull retracement.
It's making an effort towards it now. Let's hope it's got enough juice.
  • #136,958
  • Edited 8:58am Jun 12, 2009 8:35am | Edited 8:58am
Quoting manize
Short from DP today (1.6518). Target DP day -1 (1.6357) !
Target was hit ! 1.6357 is a strong support, goes more down at least to 1.6209 (DP day -2) - 1.6218 (DP day -5 ), H1 & H4 should close below this support level. Otrherwise reversed up or moves flat !
Attached Image (click to enlarge)
Click to Enlarge Name: 120609a.gif Size: 66 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #136,959
  • Jun 12, 2009 8:49am Jun 12, 2009 8:49am
Quoting welshguy2000
I closed this trade yesterday at 1.6550 (+108 pips) I have just uploaded the video reviewing the entry / exit reasons:

http://www.youtube.com/watch?v=OnEBldtij7o

Please rate / comment on the video over on youtube, any questions you have please ask.
Just want to say thank you for the video. I've left my comment on youtube and hope to see the one on mm soon.
  • #136,960
  • Jun 12, 2009 8:59am Jun 12, 2009 8:59am
Short on the pound from 1.6508. Watch for 1.6337 level. It is the low of both today and yesterday.
You wont survive without preserving!!!
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