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Cable Update (GBPUSD)

  • #144,921
  • Jul 9, 2009 3:40pm Jul 9, 2009 3:40pm
Quoting dobbie11
... But here is a little tip. When the hour candle closes, draw a line on the high and a line on the low. Wait for a clean break of at least 25 pips in either direction on the 5 min chart and there is ur direction
Just wanted to say thanks for one of the most concrete posts around. You and a very few others make this forum one of the best education tools around. And, had I followed this advice last night and not gone with the fundamentals and expectations which were pretty much unanimous by all thread participants, I would not have missed the ~300 pip ride up, not felt the impact to my account. (don't really want to calculate the exact # of pips, because, well, it hurts) Please don't stop posting constructive content like this.
  • #144,922
  • Jul 9, 2009 3:41pm Jul 9, 2009 3:41pm
flow with the waves, if the wave turns, turn with it, if it turns back, well then turn back!

Eventually the wave will start moving stronger and you will be there to ride it to fruition!
  • #144,923
  • Jul 9, 2009 3:50pm Jul 9, 2009 3:50pm
Quoting nAVIN2007
good thinking...we just dont know....hence the use of good mm incase we get it wrong

Exactly, good mm is critical.

Once you take your position and set your 1 or 2% (or whatever you use) stop, then set it and forget it!
  • #144,924
  • Jul 9, 2009 4:03pm Jul 9, 2009 4:03pm
just thought it would be an interesting reading

http://www.bloomberg.com/apps/news?p...olumnist_pesek
  • #144,925
  • Jul 9, 2009 4:27pm Jul 9, 2009 4:27pm
Quoting alexandru987
Well i have the teamplates from you so i`m calling it yours....

I`m not changing what already works.

I just added some of my own rules... and look at pivots and resistance suport so i don`t buy when it`s about to reach a pivot without waiting for a small retrace and so on...

But the system works great.... just make sure you are not the weak link by letting losses run longer or not setting sl to be after a few pips... even if it retraces and you hit be or +1 pips, there are plenty of times it won`t retrace and you will get 20-80 pips... ...

Good to hear some people are making money off my system

Seriously though put 2 charts up, the new settings and the old setting and see which you prefer the new settings are mind blowing better hit wise.

Sadly I was and still am the weak link, why I've kept developing the theme until, I'm really really super confident about it.

Cool and keep it up
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,926
  • Jul 9, 2009 4:32pm Jul 9, 2009 4:32pm
Quoting learntowin
Just see

USD is ruined and worrthless, that 's all for the reason to get long now
your right but Stg is in no better shape
  • #144,927
  • Jul 9, 2009 4:54pm Jul 9, 2009 4:54pm
Quoting Lejumeau
Here is what I think even if the last 2 week look quite chopy still 1.6380 seem to be the support area.

Now support when is broke become resistance, that is wy the price stop a that level today. since this previous support was holding quite many time it should become a pretty good resistance from now on.

So this is the first reason to have a good entry for short at this level.
Second a move a 400pip in a day for sure market get exhaust it need too retrace.
third reason the price on it up move failed short just about 40pip to hit the weekly...
I am with you ... on the short side.

DJ waffled around today but both DJ and s&P did not have hardly any bounce off major support levels.

The dollar index dipped into 80 region again and those buyers were there

GBP ONLY retraced 50 % of a move down from 6740 to 6590..and that 850 pip drop was in a matter of a fews days . Large drosp have impulsive up moves.

I am back to trading gj .. and loving it as she is volatile for day trading these days , today was crazy 300 pip day in the us session

Love the calls of 1.7000

If s&p breaks 875 forget even 1.6600 test , money will be moved from stocks to bonds .. that is the just the way it works

which is worse from a fundies perspective USD or GBP ? they are both as bad as each other.

why is g8 saying put MORE money into the economoy of recession is ending and why has the global index lost 9% in days if everything is so great ???

listen i have decided to post less .. there are a few good traders in here and the rest ...well ... lets just end there before someone gets upset

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Blogging daily now at www.volume.zone
  • #144,928
  • Jul 9, 2009 5:09pm Jul 9, 2009 5:09pm
Quoting malcolmb14
I am with you ... on the short side.

DJ waffled around today but both DJ and s&P did not have hardly any bounce off major support levels.

The dollar index dipped into 80 region again and those buyers were there

GBP ONLY retraced...
and the impulsive move up is based on what ...... that recession is over in the UK and the move up was due to the minutes of the bank of england.

Lol recession is over ... those same words that have been heard in the us for 6 weeks now . and now there are traders / analysts saying 6500 dj and g8 calling for more stimulus packages
Blogging daily now at www.volume.zone
  • #144,929
  • Jul 9, 2009 5:13pm Jul 9, 2009 5:13pm
Quoting malcolmb14
and the impulsive move up is based on what ...... that recession is over in the UK and the move up was due to the minutes of the bank of england.

Lol recession is over ... those same words that have been heard in the us for 6 weeks now . and now there are traders / analysts saying 6500 dj and g8 calling for more stimulus packages

The recession is over in the UK hooora that was rather quick.

So the 2 mates which lost there jobs last month, and the 3 companys I do work for on the brink of failing are ???

Don't believe it, there is worse too come in the UK we haven't solved anything so no way is the recession over.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,930
  • Jul 9, 2009 5:14pm Jul 9, 2009 5:14pm
Quoting malcolmb14
I am with you ... on the short side.

DJ waffled around today but both DJ and s&P did not have hardly any bounce off major support levels.

The dollar index dipped into 80 region again and those buyers were there

GBP ONLY retraced...
Malc, what defines a good trader?
  • #144,931
  • Jul 9, 2009 5:20pm Jul 9, 2009 5:20pm
Quoting malcolmb14
I am with you ... on the short side.

DJ waffled around today but both DJ and s&P did not have hardly any bounce off major support levels.

The dollar index dipped into 80 region again and those buyers were there

GBP ONLY retraced 50 % of a move down from 6740 to 6590..and that 850 pip drop was in a matter of a fews days . Large drosp have impulsive up moves.

I am back to trading gj .. and loving it as she is volatile for day trading these days , today was crazy 300 pip day in the us session

Love the calls of 1.7000

If s&p breaks 875...

you all pay to much attention to all this bs news crap. Charts folks its all in the charts.
  • #144,932
  • Jul 9, 2009 5:26pm Jul 9, 2009 5:26pm
Quoting yakutatjack
you all pay to much attention to all this bs news crap. Charts folks its all in the charts.

yeah most of the news is bs when it comes to fx.

Learn the language of candlesticks, and you can succeed.

Dont fill ya head with bs and over analysis and theories pulled out of the air.


Goodluck!!
  • #144,933
  • Edited 5:59pm Jul 9, 2009 5:40pm | Edited 5:59pm
Quoting Bull_Bear
Price has not made it back to 1.6275 yet, however I do have pending order there and also my TP for 1.6200 long.

Pending order is 1.6275.... SL 1.6330..... TP open
Yippie, a whole +20pips (+75pip on way up and -55pips to go down) in my sleep.... all good

Short @ 1.6335 .... SL 1.6410.... TP 1.6275

See you guys in the London Session
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #144,934
  • Jul 9, 2009 5:44pm Jul 9, 2009 5:44pm
Quoting malcolmb14
listen i have decided to post less .. there are a few good traders in here and the rest ...well ... lets just end there before someone gets upset

Attachment
Some people only read your posts... and some of the others... and pretty much ignore the bulk of the posts lately.

I read all of your posts as I am a slow learner on this VSA stuff, I gave it up for awhile and now back into it and determined to get a handle on it.

Cheers,

Mike.
  • #144,935
  • Jul 9, 2009 5:48pm Jul 9, 2009 5:48pm
if price can brake the darma pivot under 1.6331 it may start go down further
the yellow line you see is the darma pivot.
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  • #144,936
  • Jul 9, 2009 7:03pm Jul 9, 2009 7:03pm
Quoting alex1976
Malc, what defines a good trader?
I like the posters that post something of use right or wrong. There seems to be few posters that just want to have a go , call guys schmucks .. etc etc .

A good posters should have been a better term .. someone that puts it out there

Yes i said 2000 pip move coming in gbp .. do I still think yes I do nothing n the weekly chart tells me otherwise yet, dates were July 6th , july18th and aug 1 for the start of move down .

ES waffled around 877 today based on unemployment claims going down ??? hold on I just read that the unemployment was the highest in the US that it has been for many years !!!

usd just seems to be getitng accumulated off that 80 level in the dollar index.

anyway flipping back to gj .. she is my girl always has been for day trading
Blogging daily now at www.volume.zone
  • #144,937
  • Jul 9, 2009 7:10pm Jul 9, 2009 7:10pm
let it fall let if fall let it fall

nice to see green again lol..
  • #144,938
  • Jul 9, 2009 7:19pm Jul 9, 2009 7:19pm
let see how does one who bougth at 1.6200 will react when they see price coming back...
  • #144,939
  • Jul 9, 2009 7:23pm Jul 9, 2009 7:23pm
I dont know why but I have the sentiment I'm talking too myself
  • #144,940
  • Jul 9, 2009 7:36pm Jul 9, 2009 7:36pm
Quote
I dont know why but I have the sentiment I'm talking too myself

I'm here bro.... looks like we finally had the drop I've been waiting for
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