Cable Update (GBPUSD) | Page 7160 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #143,181
  • Jul 6, 2009 12:14pm Jul 6, 2009 12:14pm
Quoting jack.canadia
my advice .. dont use indicators. if you feel the need to use one, use MACD, thats it.

MACD ..?

I Think i need to learn many things
  • #143,182
  • Jul 6, 2009 12:17pm Jul 6, 2009 12:17pm
Quoting Mr.x
MACD ..?

I Think i need to learn many things
Actually. dont learn about any indicators, ok.

learn about support and resistance, and price action. uptrends, and downtrends.

ok

nothing else for now or u will lose money.
  • #143,183
  • Jul 6, 2009 12:18pm Jul 6, 2009 12:18pm
Quoting Mr.x
MACD ..?

I Think i need to learn many things
most of indicator are lagging... dont trust them too much.. including macd - moving average convergence divergence.. its just guidelines thou..
  • #143,184
  • Jul 6, 2009 12:19pm Jul 6, 2009 12:19pm
Jack , still holding that short ?
  • #143,185
  • Jul 6, 2009 12:20pm Jul 6, 2009 12:20pm
Quoting jack.canadia
Actually. dont learn about any indicators, ok.

learn about support and resistance, and price action. uptrends, and downtrends.

ok

nothing else for now or u will lose money.

I second or third this, No indicator is worth anything.

SMA's to help gauge the direction/trend as a guideline are okay, and Ranges drawn using Envelopes for me worth pretty good.

As already said, There just a guide nothing is perfect!!


Price action is KEY!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,186
  • Jul 6, 2009 12:21pm Jul 6, 2009 12:21pm
Quoting Mr.x
MACD ..?

I Think i need to learn many things
No you don't.
Just put your effort into managing risk. Most people are only concerned about the direction of the trade. Should be the other way round really.
Don't bother cluttering your chart with rubbish indicators. You will not go far with it, I can assure you.
But I think you've heard this a thousand times, so I think I'll just stop here.

Good luck sir.
Thank You
  • #143,187
  • Jul 6, 2009 12:22pm Jul 6, 2009 12:22pm
Quoting jack.canadia
Actually. dont learn about any indicators, ok.

learn about support and resistance, and price action. uptrends, and downtrends.

ok

nothing else for now or u will lose money.
Jack's right. Indicators are rubbish. Keep it simple.
  • #143,188
  • Jul 6, 2009 12:24pm Jul 6, 2009 12:24pm
for the moment where is the GBP heading to is it up or down?
  • #143,189
  • Jul 6, 2009 12:25pm Jul 6, 2009 12:25pm
Are we still in this range as the Daily candle looks like hammer and may close above 231!
  • #143,190
  • Jul 6, 2009 12:26pm Jul 6, 2009 12:26pm
Quoting roreki
Jack , still holding that short ?
6230 yes
  • #143,191
  • Jul 6, 2009 12:26pm Jul 6, 2009 12:26pm
X you've got to accept all trades entered are near enough 50/50. (60/40 at best with lots of skill )

Then its what you do after placing the trade which counts, don't let the market move against you AT ALL, if it is EXIT, but if it's going the right way then HOLD on tight for big enough profits to offset the losses.

Don't make it any more complicated than that!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,192
  • Jul 6, 2009 12:26pm Jul 6, 2009 12:26pm
Quoting alex1976
Are we still in this range as the Daily candle looks like hammer and may close above 231!
It broke the range.. seen on the 4h .. if it closes back in the range (on daily) then the break was false .. much like the spike to 6700.. we shall see
  • #143,193
  • Jul 6, 2009 12:28pm Jul 6, 2009 12:28pm
Quoting alex1976
Are we still in this range as the Daily candle looks like hammer and may close above 231!
321 u mean.. If that happens. It would mean that the breakdown was a false one. This would be very bullish and we could see it trading back up to 1.64+
  • #143,194
  • Jul 6, 2009 12:28pm Jul 6, 2009 12:28pm
Quoting Mr.x
for the moment where is the GBP heading to is it up or down?

The immediate direction is UP.

The longer the term you try to guess what it is the nearer you come back to 50/50 game.

But you can't predict when a nice move is going to happen, so you've got to be in it to win it and when a nice move happens hopefully your in on the right side and nice profits will be made.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,195
  • Jul 6, 2009 12:29pm Jul 6, 2009 12:29pm
damn i should have kept that damn long from 6115 lol..

two shorts now that i will cut off at 6300. for now im holding 6230 and 6265.
  • #143,196
  • Jul 6, 2009 12:31pm Jul 6, 2009 12:31pm
I am saying it may be time to short.
  • #143,197
  • Jul 6, 2009 12:31pm Jul 6, 2009 12:31pm
Quoting jack.canadia
damn i should have kept that damn long from 6115 lol..

two shorts now that i will cut off at 6300. for now im holding 6230 and 6265.
maybe i will short at 1.6280-1.6300
Hero Traders Live to see their Accounts Die!
  • #143,198
  • Jul 6, 2009 12:33pm Jul 6, 2009 12:33pm
Quoting akumelayu
say no to indicator
walauwehh... my brother...
  • #143,199
  • Jul 6, 2009 12:34pm Jul 6, 2009 12:34pm
Quoting jack.canadia
damn i should have kept that damn long from 6115 lol..

two shorts now that i will cut off at 6300. for now im holding 6230 and 6265.
i added one now @ 1.6263 ,, i think it will go down from there
  • #143,200
  • Jul 6, 2009 12:36pm Jul 6, 2009 12:36pm
Old support, a trendline and a fib or two in there depending on where u draw it from

last line of defence for mee
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 16 KB
214 traders viewing now, 1 is registered:
bblizardd