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Cable Update (GBPUSD)

  • #153,261
  • Jul 30, 2009 9:35pm Jul 30, 2009 9:35pm
Quoting 5abi
I approve this message

The only questions I have are, do I load more shorts here, wait to see if it hits my 4H TL at 6535 or better yet, the 6550 level for another test?

But in the end, this puppy's going down IMHO
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Ghost Rider - WWTBMD?
  • #153,262
  • Jul 30, 2009 9:37pm Jul 30, 2009 9:37pm
I have orders at 6550. If it gets that fine, if it does not well fine then too. If I short it here, I cannot place a good stop. at 6550 I can get my stop at 6630.

Quoting albchr
The only questions I have are, do I load more shorts here, wait to see if it hits my 4H TL at 6535 or better yet, the 6550 level for another test?

But in the end, this puppy's going down IMHO
Its all in the mind.
  • #153,263
  • Jul 30, 2009 9:40pm Jul 30, 2009 9:40pm
Quoting Sunny66
Hello,
Question to you, is it going against your system to short above pivots.
Thanks
Sunny
yep
I didnt short after the openingof the darma i was short already this afternoon..
I was out by the time 5pm and then I misse to close my short so I stay short expecting the daily pivot to hold.
I should have close my short rigth at the darma and buy rigth a the darma and take profit first target the high of today and then second target the daily resitance 1

but since I was already short I told too myself I agree to let it go back to the high of today because I'M quit sure it will reverse back because we touch the second daily resistance today wich usualy we have a good potential of reverse.

But you are rigth I should follow my strategy I would be already in green if I did.. Now I only rely on the Pivot to hold resistance but if this dont hold I'm out..

but it dont look to good it is those day's...
  • #153,264
  • Jul 30, 2009 9:41pm Jul 30, 2009 9:41pm
Quoting 5abi
I have orders at 6550. If it gets that fine, if it does not well fine then too. If I short it here, I cannot place a good stop. at 6550 I can get my stop at 6630.
What would be your target?
  • #153,265
  • Jul 30, 2009 9:42pm Jul 30, 2009 9:42pm
Quoting 5abi
I have orders at 6550. If it gets that fine, if it does not well fine then too. If I short it here, I cannot place a good stop. at 6550 I can get my stop at 6630.
Yeah, the position I'm holding at 6520 is a small one. I'd like to get some sleep before London so I thought about a larger PO at 6550 but when I go big, I like to be around for it. I'm funny that way....lol
Ghost Rider - WWTBMD?
  • #153,266
  • Jul 30, 2009 9:43pm Jul 30, 2009 9:43pm
Quoting gebuzor
What would be your target?
same as my stop. 6470.
Its all in the mind.
  • #153,267
  • Jul 30, 2009 9:44pm Jul 30, 2009 9:44pm
yea those day that you see that your strategy is so damm good again and again so next time i will stick to it ..
  • #153,268
  • Jul 30, 2009 9:45pm Jul 30, 2009 9:45pm
Quoting Piece Of The Pie
Look at USD / JPY. USD is getting weaker and weaker.
Look in the USD/JPY thread I posted a H1 chart last night. USD/JPY broke out of a month long formation in last 20 hours and is just retracing to breakout zone.

USD bull on the horizon imo.
  • #153,269
  • Jul 30, 2009 9:46pm Jul 30, 2009 9:46pm
This thing is quite messy now... killing stop then south?!? Or real breakout after the load at 1.6250?!?.....

Last 4h high is lower, last 4h low low is lower.... i would find it very suprising to make a broadening pattern.... let's see...

Really confusing!
  • #153,270
  • Jul 30, 2009 9:46pm Jul 30, 2009 9:46pm
An excellent stop would be above the 7/23 Daily high at 1.6620 or so.

Ne

Quoting 5abi
I have orders at 6550. If it gets that fine, if it does not well fine then too. If I short it here, I cannot place a good stop. at 6550 I can get my stop at 6630.
  • #153,271
  • Jul 30, 2009 9:46pm Jul 30, 2009 9:46pm
Quoting Lejumeau
yep
I didnt short after the openingof the darma i was short already this afternoon..
I was out by the time 5pm and then I misse to close my short so I stay short expecting the daily pivot to hold.
I should have close my short rigth at the darma and buy rigth a the darma and take profit first target the high of today and then second target the daily resitance 1

but since I was already short I told too myself I agree to let it go back to the high of today because I'M quit sure it will reverse back because we touch the second daily resistance today...

this sytem seems to require alot of discipline to not second guess your system, this is in my opinion a big task.
  • #153,272
  • Jul 30, 2009 9:47pm Jul 30, 2009 9:47pm
Nevermind, I see you are looking for a better bargain. But 6620 would be a good shot.

Ne


Quoting Nene
An excellent stop would be above the 7/23 Daily high at 1.6620 or so.

Ne
  • #153,273
  • Jul 30, 2009 9:47pm Jul 30, 2009 9:47pm
but I only wanna risk 80 pips on this trade. by that math I only get upto 6598 ATM

Quoting Nene
An excellent stop would be above the 7/23 Daily high at 1.6620 or so.

Ne
Its all in the mind.
  • #153,274
  • Jul 30, 2009 9:50pm Jul 30, 2009 9:50pm
Quoting Sunny66
this sytem seems to require alot of discipline to not second guess your system, this is in my opinion a big task.
exactly we have to be flexible every minute and react acording to our strategy and do not have any opinion. This is one of best waren buffet trader said in an interview never have an opinion otherwise it will influence your trading decision on the direction of your opinion and not the direction of the market.
  • #153,275
  • Jul 30, 2009 9:51pm Jul 30, 2009 9:51pm
We already got a nice set of Bearish Tweezers on the 4 Hr and I am watching the 30 min for another.

Ne
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  • #153,276
  • Jul 30, 2009 9:52pm Jul 30, 2009 9:52pm
Hi Inzider long time no see
  • #153,277
  • Jul 30, 2009 9:52pm Jul 30, 2009 9:52pm
I got that and I understand, you got to stick with your strat.. But this trendline will be a tough nut to crack.

Ne

Quoting 5abi
but I only wanna risk 80 pips on this trade. by that math I only get upto 6598 ATM
  • #153,278
  • Jul 30, 2009 9:53pm Jul 30, 2009 9:53pm
Great point though warren buffet is no trader. They guy never sells. Man, he just does never sell. (ok he does but generally he just holds on to it)

Quoting Lejumeau
exactly we have to be flexible every minute and react acording to our strategy and do not have any opinion. This is one of best waren buffet trader said in an interview never have an opinion otherwise it will influence your trading decision on the direction of your opinion and not the direction of the market.
Its all in the mind.
  • #153,279
  • Jul 30, 2009 9:56pm Jul 30, 2009 9:56pm
Quoting Nene
I got that and I understand, you got to stick with your strat.. But this trendline will be a tough nut to crack.

Ne
....it won't crack...lol
Ghost Rider - WWTBMD?
  • #153,280
  • Jul 30, 2009 9:56pm Jul 30, 2009 9:56pm
Guys, I ain't so sure now if it's time to short Cable. The current charts of EU and Cable look bullish. Asian seems to be buying both pairs. It'd likely to remain bullish in London session.
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