Don't get upset mate, but your reasons are rubbish. ...something sensible.
Better safe than sorry 
Cable Update (GBPUSD)
- #143,422
- Jul 6, 2009 11:55pm Jul 6, 2009 11:55pm
Long at 6200 as it is the 50% retracement of the upmove from yesterday's low to today's high..
Could be just for a scalp, who knows..
Got out of my short at 6200. we're just hanging here...
Now just waiting for 6200 to break either way. If we cross the Daily Pivot, in for a long too.
If we break 6180 on the downside going short again. we see soon
- #143,423
- Jul 6, 2009 11:59pm Jul 6, 2009 11:59pm
Hi Ipips! how's it going?
Got out of my short at 6200. we're just hanging here...
Now just waiting for 6200 to break either way. If we cross the Daily Pivot, in for a long too.
If we break 6180 on the downside going short again. we see soon
- #143,424
- Jul 7, 2009 12:01am Jul 7, 2009 12:01am
Hey mate, I'm doing good. Thanks! No clear direction on the cable. You're exactly right, those levels are where I am looking to get a clue where this thing is headed for the rest of the day. Right now could be just noise.
London just opened. we may get our answer shortly.
- #143,426
- Jul 7, 2009 12:12am Jul 7, 2009 12:12am
Hi Ipips thanks for your technical reason for your judgement to long, (evan though i curently don't agree) but a reason to consider none the less. reason why i don't favour is, 6200 is a nice round number which this is expected to stall a bit. Having the 50% there could also make it stronger suport. But not sure about relying on that alone S/R are eventualy broken and being so close to london open and the presure of the last 2 hourly candles, this can be smashed in a blink of an eye. Unless the brits have other ideas.
Hi Dillinger,
Thank you very much for the books you sent me. Only I cannot find the last one: Bukowski- anywhere in the Internet `cose don`t know the tittle of the book. Anyway, could you recommend a place where a can read more about Pivots points - how to read them?
Thank a lot
London Trader
Thank you very much for the books you sent me. Only I cannot find the last one: Bukowski- anywhere in the Internet `cose don`t know the tittle of the book. Anyway, could you recommend a place where a can read more about Pivots points - how to read them?
Thank a lot
London Trader
Hi Ipips! how's it going?
Got out of my short at 6200. we're just hanging here...
Now just waiting for 6200 to break either way. If we cross the Daily Pivot, in for a long too.
If we break 6180 on the downside going short again. we see soon
Discomfort and profit often stand side by side
- #143,431
- Jul 7, 2009 12:30am Jul 7, 2009 12:30am
- Joined Mar 2009 | Status: Getting closer to ...... | 1,787 Posts
- #143,432
- Jul 7, 2009 12:31am Jul 7, 2009 12:31am
WOW.
First off lets hope your joking around here. SeriouslY???
In the case that your not, I seriously hope you have now placed a SL
If not then I hope your ready to close out for a loss.
SUB 6100 is quite possible today. A new LL would need a good break of 6100 but after that there is no reason for the next support to be 6000 just on Pysch basis along.
If none of the above makes sense, and you did just go long for your reasoning then whoever gave you your vouch needs to take it back ASAP because that is a real pathetic reason to execute...
- #143,434
- Jul 7, 2009 12:35am Jul 7, 2009 12:35am
- | Joined May 2008 | Status: Ad Astra Per Aspera | 1,741 Posts
Verily, in every difficulties there is relief
- #143,437
- Jul 7, 2009 12:41am Jul 7, 2009 12:41am
- | Joined May 2008 | Status: Ad Astra Per Aspera | 1,741 Posts
Verily, in every difficulties there is relief
- #143,439
- Edited 12:59am Jul 7, 2009 12:43am | Edited 12:59am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Pssst...Hey Jack.....WB.....
http://www.forexfactory.com/showpost...stcount=143321
http://www.forexfactory.com/showpost...stcount=143325
Don't ya just LOVE waking up this way......
http://www.forexfactory.com/showpost...stcount=143321
http://www.forexfactory.com/showpost...stcount=143325
Don't ya just LOVE waking up this way......
Ghost Rider - WWTBMD?
- #143,440
- Jul 7, 2009 12:44am Jul 7, 2009 12:44am
Hi Dillinger,
Thank you very much for the books you sent me. Only I cannot find the last one: Bukowski- anywhere in the Internet `cose don`t know the tittle of the book. Anyway, could you recommend a place where a can read more about Pivots points - how to read them?
Thank a lot
London Trader
cheers!
sorry, I haven't checked mail since the weekend, but will resend.
The book is called "The Encyclopedia of Chart Patterns" by Thomas Bulkowski. It's a pretty big book. 1000 pages. but imho the best charting book I've read.
http://www.amazon.com/Encyclopedia-C.../dp/0471668265
BabyPips has a good introduction to learn Pivots. You might want to check these links as well. Excellent weekly analysis on all major pairs and solid training materials.
http://www.actionforex.com/
http://www.aboutcurrency.com/strategies/forextradingstrategies/forex_trading_strategies.shtml
http://stockcharts.com/school/doku.php?id=chart_school