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Cable Update (GBPUSD)

  • #165,001
  • Sep 11, 2009 6:56am Sep 11, 2009 6:56am
Quoting Bull_Bear
As long as trend and plan is intact. Try it for a dozen trades, stick to it and you'll see real returns on a win : lose ratio
yes i did that with the dragon and on demo and i saw a difference belief is so impt...good luck brother at least we on the same side
  • #165,002
  • Sep 11, 2009 6:57am Sep 11, 2009 6:57am
Quoting antic81
And now we have confirmation that I am, in fact, an idiot!

Many thanks!

haha!
hahha.. lol
Patience is the keyword here...
  • #165,003
  • Sep 11, 2009 6:58am Sep 11, 2009 6:58am
Quoting antic81
And now we have confirmation that I am, in fact, an idiot!

Many thanks!

haha!

dont worry we all get this confirmation, mostly
  • #165,004
  • Sep 11, 2009 7:01am Sep 11, 2009 7:01am
Quoting antic81
And now we have confirmation that I am, in fact, an idiot!

Many thanks!

haha!
see see i just got one as well...
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  • #165,005
  • Sep 11, 2009 7:01am Sep 11, 2009 7:01am
I like everyone else have no idea what price will do next, ie in the next 1min, 5mins, 1hr, day or week. All we have to go on to base our trading decisiosn is tech or fundie analysis or some other model/math based analysis...this much is known, hopefully accepted by traders and understood.

But I gotta say, and before I do I repeat that I have no axe to grind or directional biais, the analysis for shorting and holding for any extended target at this level or indeed lower is very thin...

From a tech standpoint,

1. arguaby there is an H&S pattern on the Weekly t/f...and today's highs would form the right shoulder of that dodgy H&S
2. there is a decsending potential resistance trend line on that weekly time frame...Todays's highs are a 1st test of that trend line and

Against the longer term short positions;

a. trend is obviously up 1hr - Weekly t/f
b. there is some fundie analysis to say that £ is lagging behind some other $ crosses in a current weak $ fundie scenario.
c. the H&S pattern on Daily t/f has failed with an upside breech of the right shoulder.

As someone has posted above, as long as you are happy with your own analysis that is all that counts and you should plan your trade-and trade your plan and this is good...but i still question the analysis even if £ does sell off from here.

To me holding a short atm from this or any level lower than the current market price is not a high probability play based on the tech analysis available.

As always, whatever happens will happen, and I wish you G/L.
ex member
  • #165,006
  • Sep 11, 2009 7:02am Sep 11, 2009 7:02am
Yip, having a nice cold one at the pub... I'm in Long @ 1.6713

[send from mobile]
  • #165,007
  • Sep 11, 2009 7:04am Sep 11, 2009 7:04am
Quoting bbmac
I like everyone else have no idea what price will do next, ie in the next 1min, 5mins, 1hr, day or week. All we have to go on to base our trading decisiosn is tech or fundie analysis or some other model/math based analysis...this much is known, hopefully accepted by traders and understood.

But I gotta say, and before I do I repeat that I have no axe to grind or directional biais, the analysis for shorting and holding for any extended target at this level or indeed lower is very thin...

From a tech standpoint,

1. arguaby there is an H&S pattern...
good luck to u too bbmac!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #165,008
  • Sep 11, 2009 7:08am Sep 11, 2009 7:08am
Quoting nAVIN2007
see see i just got one as well...
Ouch, sorry to here that bud, never mind, atleast you were in a trade, I have been sitting on the fence since yesterday, as your sig says, he who dares, wins!
  • #165,009
  • Sep 11, 2009 7:13am Sep 11, 2009 7:13am
Quoting antic81
Ouch, sorry to here that bud, never mind, atleast you were in a trade, I have been sitting on the fence since yesterday, as your sig says, he who dares, wins!
hopefully u will catch a seat soon
  • #165,010
  • Sep 11, 2009 7:17am Sep 11, 2009 7:17am
Quoting nAVIN2007
see see i just got one as well...

LOL...don't worry buddy. In this wishy washy "Range" we're stuck in, I'm beginning to think that no matter what position you have, if you can just hold it long enough, you'll win...
Ghost Rider - WWTBMD?
  • #165,011
  • Sep 11, 2009 7:23am Sep 11, 2009 7:23am
GBPUSD will retrace in the up channel now
u may take short trades
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THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #165,012
  • Sep 11, 2009 7:25am Sep 11, 2009 7:25am
Quoting albchr
LOL...don't worry buddy. In this wishy washy "Range" we're stuck in, I'm beginning to think that no matter what position you have, if you can just hold it long enough, you'll win...
blergh I bet you won't be saying that if you hadn't accidentally closed your short yesterday bro!
Thank You
  • #165,013
  • Sep 11, 2009 7:25am Sep 11, 2009 7:25am
Hey guys, anybody have any profits in today lazy day?

I'm on +1
-- There's no winner without lose --
  • #165,014
  • Sep 11, 2009 7:26am Sep 11, 2009 7:26am
Quoting albchr
LOL...don't worry buddy. In this wishy washy "Range" we're stuck in, I'm beginning to think that no matter what position you have, if you can just hold it long enough, you'll win...
i know what u mean
  • #165,015
  • Sep 11, 2009 7:26am Sep 11, 2009 7:26am
Quoting JamesCZ
Hey guys, anybody have any profits in today lazy day?

I'm on +1
not bad bro better than minus
  • #165,016
  • Sep 11, 2009 7:31am Sep 11, 2009 7:31am
Gotta love it when news is good for the $ and people start to sell it.
Don't let the same dog bite you twice. -- Chuck Berry
  • #165,017
  • Edited 7:45am Sep 11, 2009 7:34am | Edited 7:45am
Quoting wormboy
blergh I bet you won't be saying that if you hadn't accidentally closed your short yesterday bro!
For my money needs and the way I have to trade, you're absolutly right brother...

But if I could trade for "extra" play money like you? No big deal...
Ghost Rider - WWTBMD?
  • #165,018
  • Sep 11, 2009 7:34am Sep 11, 2009 7:34am
Quoting nAVIN2007
not bad bro better than minus
Yeah, but today I won't stick on my plan 20-30 pips per day. But this week was great, so I think I'll be satisfied. 102 pips mean 20 pips per day and it's ok for me. Hope next week will be at least same...
-- There's no winner without lose --
  • #165,019
  • Sep 11, 2009 7:37am Sep 11, 2009 7:37am
Almost 8 day in a row.... going up! This madness need to end! LOL

Short 1.6700 Sl 1.6746

Let's see!
Good trading all!
  • #165,020
  • Sep 11, 2009 7:40am Sep 11, 2009 7:40am
Sell
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