Agree but its a good idea to always minimise the risk where possible and that means going with the trend.
Cable Update (GBPUSD)
- #151,742
- Jul 28, 2009 12:45am Jul 28, 2009 12:45am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #151,743
- Jul 28, 2009 12:46am Jul 28, 2009 12:46am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #151,745
- Jul 28, 2009 12:49am Jul 28, 2009 12:49am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Agreed ,tho I like TLs,
Me too. I use them as confluence and a filter of sorts....
Ghost Rider - WWTBMD?
- #151,746
- Jul 28, 2009 12:50am Jul 28, 2009 12:50am
- Joined Apr 2007 | Status: USF Statistics | 2,248 Posts
You got to this first...LOL I added to my post, enough days of running flat and no TL will hold...LOL
Yes it is high risk. But you know my situation.
This is why side to side S/R is far stronger to me than TL's.
I prefer S/R to TLs myself..........
- #151,747
- Jul 28, 2009 12:51am Jul 28, 2009 12:51am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #151,748
- Jul 28, 2009 12:54am Jul 28, 2009 12:54am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
I aways look at all tf's and my bias is still L-O-N-G LOL.
- #151,749
- Jul 28, 2009 12:57am Jul 28, 2009 12:57am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Well I see the sell ,I really do but I would wait at this point,or keep it small,yesterdays high may just hold water
no risk no reward
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #151,750
- Jul 28, 2009 12:58am Jul 28, 2009 12:58am
I still hold my long 1.6507 and the S/L is BE. I hope that GU will fly like last end month and make a new high for this month.
Gu strong resistance at 1.6559..... if break.. possibility make new high...
Gu strong resistance at 1.6559..... if break.. possibility make new high...
- #151,751
- Jul 28, 2009 12:58am Jul 28, 2009 12:58am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
I prefer S/R to TLs myself..........
Ghost Rider - WWTBMD?
- #151,752
- Jul 28, 2009 12:59am Jul 28, 2009 12:59am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Chris,
I know your situation and I understand your point but If I was in your position I would be taking the lower risk option and staying with the major trend.
Another chart - sorry I know this is HS but interesting anyway.
Nice bull flag last night which gave 100 pips off a PPZ and its with the trend LOL.
Attachment
- #151,753
- Jul 28, 2009 1:01am Jul 28, 2009 1:01am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
The eur itself is flat ATM the $ is the driver
Tony, zoom out daily cad/lfx and draw trendline.
We see yesterday rising volume at this trendline, this is indication for breaking this trendline, because there is interest to move higher.
cad/lfx up = usd/lfx down. I mean much more down
The problem is the weak gbp/lfx, which is at support these days. If it turns bullish, we see gbp/usd jump
Until now gbp/usd has only one driver, but imagine it has two 
sorry no chart, IŽam at work.
- #151,754
- Jul 28, 2009 1:02am Jul 28, 2009 1:02am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Chris,
I know your situation and I understand your point but If I was in your position I would be taking the lower risk option and staying with the major trend.
Another chart - sorry I know this is HS but interesting anyway.
Nice bull flag last night which gave 100 pips off a PPZ and its with the trend LOL.
Attachment
If I could, don't you think I would? Don't you think that less risk would be far better to me? I may not be the sharpest tool in the box but "I" KNOW what I have to do.
Anyway, no more posting for me. I have to focus on what "I" have to do now...
Green pips everyone...
Ghost Rider - WWTBMD?
- #151,755
- Jul 28, 2009 1:05am Jul 28, 2009 1:05am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Totally agree pete I will look at the Cad ,I should be working too,lol
Tony, zoom out daily cad/lfx and draw trendline.
We see yesterday rising volume at this trendline, this is indication for breaking this trendline, because there is interest to move higher.
cad/lfx up = usd/lfx down. I mean much more down
The problem is the weak gbp/lfx, which is at support these days. If it turns bullish, we see gbp/usd jump
sorry no chart, IŽam at work.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #151,756
- Jul 28, 2009 1:08am Jul 28, 2009 1:08am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Well I see the sell ,I really do but I would wait at this point,or keep it small,yesterdays high may just hold water
- #151,758
- Jul 28, 2009 1:11am Jul 28, 2009 1:11am
- | Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts
Keep It Simple Stupid
- #151,759
- Jul 28, 2009 1:13am Jul 28, 2009 1:13am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
A better saying is keep your risk to minimum ,whatever your situation
no risk no reward
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #151,760
- Jul 28, 2009 1:16am Jul 28, 2009 1:16am
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
How's it goin' buddy
C'est la vie!
Hear the music before the song is over ...