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Cable Update (GBPUSD)

  • #164,781
  • Sep 10, 2009 10:33am Sep 10, 2009 10:33am
Quoting Bull_Bear
I'm outta here guys...

Trade Well
See ya bb, good job today
Thank You
  • #164,782
  • Sep 10, 2009 10:34am Sep 10, 2009 10:34am
Quoting weirdisaac
hope to see some charts from u....
they're posted on the other thread
Thank You
  • #164,783
  • Sep 10, 2009 10:34am Sep 10, 2009 10:34am
well another new high for today may b cable will kiss 1.6724 someday or not who knows anyway hope we can pick some pips on its way happy trading guys
Attached Image (click to enlarge)
Click to Enlarge Name: gu 10sept 2009.gif Size: 66 KB
  • #164,784
  • Sep 10, 2009 10:39am Sep 10, 2009 10:39am
Quoting forexter
well another new high for today may b cable will kiss 1.6724 someday or not who knows anyway hope we can pick some pips on its way happy trading guys
Man your chart hurts my eyes!
"Hate the sin, love the sinner." - Gandhi
  • #164,785
  • Sep 10, 2009 10:40am Sep 10, 2009 10:40am
Hi to all,

Last month BoE kept the same rate and cable with dragon had made a terrible dive during the month. This month, the rate is already the same, but first reaction of the market was to go north. Could any specialist explain this divergence please?
If you resist at heart attack, you will be rich from trading.
  • #164,786
  • Sep 10, 2009 10:42am Sep 10, 2009 10:42am
I'm staying out of the market until I have something a bit more clear.
No need to be giving my monies up to others right now.
Don't let the same dog bite you twice. -- Chuck Berry
  • #164,787
  • Sep 10, 2009 10:43am Sep 10, 2009 10:43am
Quoting wormboy
you sure as hell don't want to be asking me lol.
I got stopped out of my trade. Previous week's gain squared back to zero.
Guess I'll wait for another setup.
Wormboy, you are not going to go short? Seems as though the cable will retrace a bit.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #164,788
  • Sep 10, 2009 10:47am Sep 10, 2009 10:47am
Quoting TheGabriel
Man your chart hurts my eyes!
colorful chart for colorful day hehehe
  • #164,789
  • Sep 10, 2009 11:00am Sep 10, 2009 11:00am
This is the current 1hr chart in respect of obvious near-term imbalances of supply/demand and demand/supply, these previous swing hi and lo zones are joined by unbreeched fibs of swings up from 6320, 6453 and today's current 6480 low - current hifghs @ 6675 area. (The 6111-6675 is on 4hr chart now.)

Potential resistance to the upside above current highs now resides on the 4hr chart where there is the 61.8% of major 7044-6111 swing down @ 6684, and then a previous minor swing low zone extending 6886-6905, and inbetween these 2 potential resistance factors lies the 76.4% of the major 7044-6111 move @ 6823. Above here and the previous swing hi=previous resistance=potential resistance zone that co-exists on the 4hr and daily extends 7024-44.

The confluence of potential support/resistance factors on this 1hr and higher t/f's are where the high probability trading opportunities occurs and I shall, as usual be looking for high probability repeating oscillator divergence (regular and hidden)/extremes and band/channel deviation based set-ups on the t/f's below 1hr supported by a good price action candle to trigger entry. Where a confluence of set-ups occurs across the t/f's so much the better.

G/L

http://i32.tinypic.com/w82fjl.gif
ex member
  • #164,790
  • Sep 10, 2009 11:01am Sep 10, 2009 11:01am
I'm still in, I'll close on the retrace but the Cable will go up to 670 and more.
"Hate the sin, love the sinner." - Gandhi
  • #164,791
  • Sep 10, 2009 11:02am Sep 10, 2009 11:02am
Quoting XTrade
Wormboy, you are not going to go short? Seems as though the cable will retrace a bit.
Nope.
The plan was to long once daily close over 6600 or short if price close cleanly below 6600.
Looks like in a limbo right now, so I will wait for a confirmation. Won't be today tho.
Thank You
  • #164,792
  • Sep 10, 2009 11:03am Sep 10, 2009 11:03am
Quoting Ilovefx
Hi to all,

Last month BoE kept the same rate and cable with dragon had made a terrible dive during the month. This month, the rate is already the same, but first reaction of the market was to go north. Could any specialist explain this divergence please?
Whether the BOE would change the Bank Rate was not in question this month or last. See my post from earlier today, which may help explain the move in Cable witnessed today post the MPC decision.

http://www.forexfactory.com/showpost...stcount=164570
  • #164,793
  • Sep 10, 2009 11:05am Sep 10, 2009 11:05am
May I remind traders of the mark douglas's great advice:

The 5 Fundamental Truths of Trading:
1. Anything can happen.

2. You don’t need to know what is going to happen next to make money.

3. There is a random distribution between wins and losses for any given set of variables that define an edge.

4. An edge is nothing more than an indication of a higher probability of one thing happening over another.

5. Every moment in the market is unique.

Accept these...until you do you don't stand much chance...
The 7 Principles of Consistency:
1. I objectively identify my edges.

2. I predefine the risk of every trade.

3. I completely accept the risk or I am willing to let go of the trade.

4. I act on my edges without reservation or hesitation.

5. I pay myself as the market makes money available to me.

6. I continually monitor my susceptibility for making errors.

7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.


Great advice...ignored by too many
ex member
  • #164,794
  • Sep 10, 2009 11:05am Sep 10, 2009 11:05am
+177 pips on a 4 lot multi soft hedge on the EG dead cat bounce....

CHA CHING!

Gotta Honey Do list now, enjoy the day!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #164,795
  • Sep 10, 2009 11:06am Sep 10, 2009 11:06am
adeh....confuse
  • #164,796
  • Sep 10, 2009 11:15am Sep 10, 2009 11:15am
1.7 ..am here ..6450 come baby..first destination...check m15 atm and H4 will show something soon...go n watch the great movie soon...
Attached Image
  • #164,797
  • Sep 10, 2009 11:16am Sep 10, 2009 11:16am
Quoting wormboy
Don't know what you're on about.
This was my entry 43 hours ago:
http://www.forexfactory.com/showpost...postcount=2843

And so far it's only move 29pips against me. It's gonna need to move more than that to convince me.
And I don't scalp. So we are not on the same page trading methods are concerned.

Wormie, do you know what I am on about now?

Or did you soil your shorts when the train continued northbound!

Last 3 night Ive said to you the trains going north on any pullback and bingo 3 uk sessions in a row int has done so.
  • #164,798
  • Sep 10, 2009 11:20am Sep 10, 2009 11:20am
Silly trade.

Binary wave indi unwinding, but price does not follow. Not a good sign for me....

See you all tomorrow
  • #164,799
  • Sep 10, 2009 11:21am Sep 10, 2009 11:21am
Quoting grashid
1.7 ..am here ..6450 come baby..first destination...check m15 atm and H4 will show something soon...go n watch the great movie soon...
i like your style....
  • #164,800
  • Sep 10, 2009 11:22am Sep 10, 2009 11:22am
Quoting gammase1
Whether the BOE would change the Bank Rate was not in question this month or last. See my post from earlier today, which may help explain the move in Cable witnessed today post the MPC decision.

http://www.forexfactory.com/showpost...stcount=164570
Great thanks
If you resist at heart attack, you will be rich from trading.
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