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Cable Update (GBPUSD)

  • #166,141
  • Sep 16, 2009 7:15am Sep 16, 2009 7:15am
well down she blows captn
  • #166,142
  • Sep 16, 2009 7:15am Sep 16, 2009 7:15am
Quoting JamesCZ
Yeah, cause I were in for 3 hours and didn't see this thing going down more...rising channel in 15m told me. Sometimes I told myself, that take a little lose is maybe bad idea...but it's my plan, rather take small lose, than the big one - and news are coming...so I didn't take it

i dont know if this will help..

remember in order for a rejection of a range or area...there needs to be a spike...so more often than not when u think its a breakout its just manipulation to take u the wrong direction...thats what i hate about forex u need a filter SL

if your trying to get pin point accuaracy..forget it..
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  • #166,143
  • Sep 16, 2009 7:15am Sep 16, 2009 7:15am
30 pip's profit out till after new's...tracy
  • #166,144
  • Sep 16, 2009 7:17am Sep 16, 2009 7:17am
Quoting nAVIN2007
i know that feeling...best to laugh bro otherwise this mofo will break u in half
I'm trying to tell myself, that it was just one trade and in fact this will be first day with minus profit in 14 days...it must have happened one day.
-- There's no winner without lose --
  • #166,145
  • Sep 16, 2009 7:18am Sep 16, 2009 7:18am
Both GU and GJ correction found resistance and didn't manage to break, long term trend to be continued in my opinion.

My shorts still in play.
"Hate the sin, love the sinner." - Gandhi
  • #166,146
  • Sep 16, 2009 7:19am Sep 16, 2009 7:19am
Quoting JamesCZ
I'm trying to tell myself, that it was just one trade and in fact this will be first day with minus profit in 14 days...it must have happened one day.
its forex buddy...welldone on progress
  • #166,147
  • Sep 16, 2009 7:19am Sep 16, 2009 7:19am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Ok, if you are not kidding. What happens when some currency is in downtrend?

We bet it will go to blah blah level before it's tanking etc..isn't it...
In our case, dollar is in downtrend. Hence all other currencies are UP from a while. Exception to cable which would have been @68 if king was quite :-)

I expect drop in dollar again soon/today.
IMO somone is collecting shorts from other curr before they start selling dollar again.
Let's see I could be worng. Most of us are, most of the times :-)




Quoting nAVIN2007
sorry i have to ask: why is there a slow dollar buying..im clueless man, sorry
  • #166,148
  • Sep 16, 2009 7:20am Sep 16, 2009 7:20am
Quoting eshrira
do u not work with fibs? if u would u would see exactly where it stalled at and ur stop could of been either above that 50%
I use fibs..but this time, my feelings just told me, take this lose, or this thing will run away to the sky and you'll have to take much bigger lose. I'm still doing this stupid mistakes, even if I'm trying to avoid them...
-- There's no winner without lose --
  • #166,149
  • Sep 16, 2009 7:21am Sep 16, 2009 7:21am
Quoting nAVIN2007
if your trying to get pin point accuaracy..forget it..
Not so sure about that buddy. My EJ trade draw down was 6 pips. The EU was 5. I'm not saying we can always be that tight but reading up on EO'S method has certainly made it better for me.

It's not like it's dead nuts all the time but if I can keep draw down and SL's to 30 or less, I call that pretty pin point in this business.
Ghost Rider - WWTBMD?
  • #166,150
  • Sep 16, 2009 7:22am Sep 16, 2009 7:22am
Quoting JamesCZ
I use fibs..but this time, my feelings just told me, take this lose, or this thing will run away to the sky and you'll have to take much bigger lose. I'm still doing this stupid mistakes, even if I'm trying to avoid them...

lol ok u gusy enjoy urself, keep trading based on feelings maybe you will get that feeling correct one day, why not just place a stop 10 pips abot that fib. it doesnt matter i wont argue thats why im never on these forums but now im just plain bored . happy trading and hope ur feelings will open the gates of pips to u
  • #166,151
  • Sep 16, 2009 7:23am Sep 16, 2009 7:23am
where we headed 520 or 450? for the news spike hmmm
  • #166,152
  • Sep 16, 2009 7:23am Sep 16, 2009 7:23am
Quoting nAVIN2007
its forex buddy...welldone on progress
Thank...I know it's not possible to be profitable each and every day in the week. I've made a mistake and I'll take a lesson from it...and next time, I'll be much more patient.
-- There's no winner without lose --
  • #166,153
  • Sep 16, 2009 7:24am Sep 16, 2009 7:24am
Quoting TheGabriel
Both GU and GJ correction found resistance and didn't manage to break, long term trend to be continued in my opinion.

My shorts still in play.
Spot on Gab
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #166,154
  • Sep 16, 2009 7:24am Sep 16, 2009 7:24am
Quoting albchr
Not so sure about that buddy. My EJ trade draw down was 6 pips. The EU was 5. I'm not saying we can always be that tight but reading up on EO'S method has certainly made it better for me.

It's not like it's dead nuts all the time but if I can keep draw down and SL's to 30 or less, I call that pretty pin point in this business.
i mean u cant expect to get it pin point SL wise...broker manipulation does happen, and stops do get hunted..but i do know what u mean
  • #166,155
  • Sep 16, 2009 7:26am Sep 16, 2009 7:26am
Quoting eshrira
lol ok u gusy enjoy urself, keep trading based on feelings maybe you will get that feeling correct one day, why not just place a stop 10 pips abot that fib. it doesnt matter i wont argue thats why im never on these forums but now im just plain bored . happy trading and hope ur feelings will open the gates of pips to u
I could place SL there, but I don't use them...why? Because thousands of times, it was hit and then price moved my way. So I use mental stops and trying to avoid loses...but sometimes, I make this stupid mistake - I'm just a man
Good luck to you as well
-- There's no winner without lose --
  • #166,156
  • Sep 16, 2009 7:26am Sep 16, 2009 7:26am
Quoting Bull_Bear
Spot on Gab
loving the target buddy...
  • #166,157
  • Sep 16, 2009 7:28am Sep 16, 2009 7:28am
Quoting nAVIN2007
loving the target buddy...
I will too, only when TP is hit
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #166,158
  • Sep 16, 2009 7:28am Sep 16, 2009 7:28am
Quoting Bull_Bear
Spot on Gab
Spot on with ya!
Don't let the same dog bite you twice. -- Chuck Berry
  • #166,159
  • Sep 16, 2009 7:30am Sep 16, 2009 7:30am
Good day to you all,

Attached my current view - numbered on the chart. I took my short last night as per previous posts @ 1.6489. Left it and went on trip. Could have, and SHOULD have banked a bit this morning, but was not around to do so.

What I see:

1) Price now touched and moved back from my Parallel trendline ( still bearish) as well as the confluence area of the 50% line of last week @ 1.6530/1
2) We also had the close price of 2 weeks ago @ 1.6520 as barrier.
3) This level is today's opening price @ 1.6485 ( I expect price to stall here and float a bit- should price purposefully break this level, I would like to aim for 1.6426 (4) - this is last month's 50% line.

I have the 1.6377 number as a possible close area for the day, should price not be manipulated otherwise.

Long will only be considered if the 1.6543 area is purposefully broken to the upside, as this is the 50% line of this week, and with it sits the upper level of the daily channel, by low @ 1.6541.
First target in that direction will then be 1.6581

Wish you all success

Good trading!
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  • #166,160
  • Sep 16, 2009 7:32am Sep 16, 2009 7:32am
Quoting JamesCZ
I could place SL there, but I don't use them...why? Because thousands of times, it was hit and then price moved my way. So I use mental stops and trying to avoid loses...but sometimes, I make this stupid mistake - I'm just a man
Good luck to you as well
I always use a SL/I learned once from news that couldn't be forseen!I believe it was last year when I think Iran or some Middle Eastern country decided to shoot off missiles.and wow did the markets move and quick!Made NFP look like a sissy!Missiles ended up being test shots!
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