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Cable Update (GBPUSD)

  • #167,321
  • Sep 20, 2009 9:31pm Sep 20, 2009 9:31pm
Quoting Que
I am curious on thoughts of my GU trade. First pic is why I made the trade a few days ago, second post is today. Do you guys think I should TP now, hold to see if my original TP is good, or do you think its going to run for the border?

Que

if you are willing to take a chance , as I now you are not a day trader , place stop at break even +50 .... there is a very high chance you got 300 pip pff top of 2000 pip down move.. see earlier posts
Blogging daily now at www.volume.zone
  • #167,322
  • Sep 20, 2009 9:51pm Sep 20, 2009 9:51pm
See attached.

This was my game plan. Maybe I am just in a weird mood, but today my confidence is not as high as it was last week...

Que
Attached Image (click to enlarge)
Click to Enlarge Name: 092009gu(weekly).gif Size: 18 KB
Que
  • #167,323
  • Sep 20, 2009 9:54pm Sep 20, 2009 9:54pm
Long GU, Long Dragon
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #167,324
  • Sep 20, 2009 9:58pm Sep 20, 2009 9:58pm
Quoting Que
See attached.

This was my game plan. Maybe I am just in a weird mood, but today my confidence is not as high as it was last week...

Que
check this out

start of move down that is all

Asia not on today no japan .. price waffling sideways

three targets for wave 3 ...1.5700 being my favourite then reatrce to 1.6100 zone then down

Attached Image (click to enlarge)
Click to Enlarge Name: chart646.png Size: 150 KB
Blogging daily now at www.volume.zone
  • #167,325
  • Sep 20, 2009 10:16pm Sep 20, 2009 10:16pm
I am going to have to trust your opinion here Malcolmb. First, I am not proficient in EW. I only know the basics, but not enough to verify your chart. Second, I do trust your opinion as I know for fact you are proficient at what you do.

I moved my stop to +50 pips (1% profit) and will let this run. This is where I have been hitting a wall the last year honestly. I let a trade go for just over a week. I am staring at 9% (450 pips) profit (100 pip initial stop @ 2% risk), and I get nervous. This is the area I am trying to work on and master before putting any more real money into this account.

If you read my post a few days back, you will know I am playing with the houses money, as my wife made me take out all of my initial investment about a year ago due to greedy and ultimately inconsistent trading habits. I have since turned the ~$300 into just over $1000. My issue is wanting to be consistent. The gains the last year were consistent, however the market was going in a single direction. It was very easy to predict. If I can remain consistent for the next 6 months (Durring sideways, and changing market conditions), I will feel comfortable putting in a couple thousand of my own money again.

All in all, even though I am playing with house money, I do not want to gamble. On top of that, i am trying to learn to be more confident in my 2 week - 4 week trades.

Que

Quoting malcolmb14
check this out

start of move down that is all

Asia not on today no japan .. price waffling sideways

three targets for wave 3 ...1.5700 being my favourite then reatrce to 1.6100 zone then down

Attachment
Que
  • #167,326
  • Sep 20, 2009 10:21pm Sep 20, 2009 10:21pm
Quoting Que
I am going to have to trust your opinion here Malcolmb. First, I am not proficient in EW. I only know the basics, but not enough to verify your chart. Second, I do trust your opinion as I know for fact you are proficient at what you do.

I moved my stop to +50 pips (1% profit) and will let this run. This is where I have been hitting a wall the last year honestly. I let a trade go for just over a week. I am staring at 9% (450 pips) profit (100 pip initial stop @ 2% risk), and I get nervous. This is the area I am trying to work on and master before...

I am just learning ew ... the targets have been based on fes that I have been using for several years

the 1.5800 is fe 100 of the 1-2-3 sell formation on daily
Blogging daily now at www.volume.zone
  • #167,327
  • Sep 20, 2009 11:00pm Sep 20, 2009 11:00pm
Looks like a bullish gartley could be forming on the 4 hr chart. I reckon we could test 1.6360 MM area then continue in its southward trend to 1.5970 where their is some strong yearly support.

May all your pips be
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart gbpusd bullish gartley.gif Size: 44 KB
Click to Enlarge Name: yrly support 1 d.gif Size: 24 KB
  • #167,328
  • Sep 20, 2009 11:35pm Sep 20, 2009 11:35pm
Too confusing for any entry at the moment. Managed to nick a few pips shorting GU, AU and GJ abt an hour ago. Gonna wait for London market to open. Good luck everyone
  • #167,329
  • Sep 21, 2009 1:26am Sep 21, 2009 1:26am
London open continues the selling off asian/overnight Hi with an early downside breec of the descending 1hr/4hr channel and the ascending daily potential support trend line?...

G/L

http://i34.tinypic.com/2ntp4.gif
ex member
  • #167,330
  • Sep 21, 2009 1:27am Sep 21, 2009 1:27am
I told you:
http://www.forexfactory.com/showpost...stcount=165184

Sorry bulls, that's your balls we just squeeeeeeeeeeeeeeeeezed
Attached Image (click to enlarge)
Click to Enlarge Name: guh4a.JPG Size: 81 KB
Thank You
  • #167,331
  • Sep 21, 2009 1:34am Sep 21, 2009 1:34am
The next potential support on 4hr t/f is the previous swing lo=previous support=potential support zone shown around the 6111 triple bottom;

G/L

http://i36.tinypic.com/29y157a.gif
ex member
  • #167,332
  • Sep 21, 2009 1:35am Sep 21, 2009 1:35am
Interesting. I have been short for over a week. However, you do realize it is a zero sum game right? Without buyers, sellers could not sell. Without sellers buyers could not buy. Thus taunting the people who just bought your product does not seem to be a wise use of time.

Secondly, I thought this forum was to promote growth, experience and an overall community that works together? I could be wrong here, but I did not think it was a competition amongst other posters.

To each his own though....

Que

Quoting wormboy
I told you:
http://www.forexfactory.com/showpost...stcount=165184

Sorry bulls, that's your balls we just squeeeeeeeeeeeeeeeeezed
Que
  • #167,333
  • Sep 21, 2009 1:36am Sep 21, 2009 1:36am
damn you'r alsome
  • #167,334
  • Sep 21, 2009 1:37am Sep 21, 2009 1:37am
The pattern & the trade:

1. http://www.forexfactory.com/showpost...postcount=2916
2. http://www.forexfactory.com/showpost...postcount=2929
3. http://www.forexfactory.com/showpost...postcount=2942
4. http://www.forexfactory.com/showpost...postcount=2966
5. http://www.forexfactory.com/showpost...postcount=2979
6. http://www.forexfactory.com/showpost...postcount=3009

H4 & one sided trade. I will keep proving you doubters wrong.

Okay no new trades for me this week till thursday. Eid Mubarak & catch you laters fellas
Thank You
  • #167,335
  • Sep 21, 2009 1:41am Sep 21, 2009 1:41am
Quoting Que
Interesting. I have been short for over a week. However, you do realize it is a zero sum game right? Without buyers, sellers could not sell. Without sellers buyers could not buy. Thus taunting the people who just bought your product does not seem to be a wise use of time.

Secondly, I thought this forum was to promote growth, experience and an overall community that works together? I could be wrong here, but I did not think it was a competition amongst other posters.

To each his own though....

Que
Zero sum? You don't say? lol
Whatever man, read my previous posts before trying to judge me. I have done my part sharing with others. This is just a friendly banter I'm having with some of my friends here. You don't have to comment something you know nothing about
Thank You
  • #167,336
  • Sep 21, 2009 1:41am Sep 21, 2009 1:41am
Quoting wormboy
The pattern & the trade:

1. http://www.forexfactory.com/showpost...postcount=2916
2. http://www.forexfactory.com/showpost...postcount=2929
3. http://www.forexfactory.com/showpost...postcount=2942
4. http://www.forexfactory.com/showpost...postcount=2966
5. http://www.forexfactory.com/showpost...postcount=2979
6. http://www.forexfactory.com/showpost...postcount=3009

H4 & one sided trade. I will keep proving...
  • #167,337
  • Sep 21, 2009 1:46am Sep 21, 2009 1:46am
I did not pass judgment upon you. I just posted an interpretation of your words as I saw them. However, I will continue to post my thoughts when I fell like doing so. Feel free to place me on your ignore list at any time.

Que

Quoting wormboy
Zero sum? You don't say? lol
Whatever man, read the my previous posts before trying to judge me. I have done my part sharing with others. This is just a friendly banter I'm having with some of my friends here. You don't have to comment something you know nothing about
Que
  • #167,338
  • Sep 21, 2009 1:47am Sep 21, 2009 1:47am
Quoting wormboy
Zero sum? You don't say? lol
Whatever man, read my previous posts before trying to judge me. I have done my part sharing with others. This is just a friendly banter I'm having with some of my friends here. You don't have to comment something you know nothing about

still in plan
  • #167,339
  • Sep 21, 2009 1:50am Sep 21, 2009 1:50am
Quoting bbmac
The next potential support on 4hr t/f is the previous swing lo=previous support=potential support zone shown around the 6111 triple bottom;

G/L

http://i36.tinypic.com/29y157a.gif
Taking a bounce at that potential support for a hi-probability long off the 1min bullish divergence based trigger .

How strong is this potential support? +30+ pip bounce so far.

http://i33.tinypic.com/2hx98oi.gif
ex member
  • #167,340
  • Sep 21, 2009 1:52am Sep 21, 2009 1:52am
Quoting bbmac
Taking a bounce at that potential support for a hi-probability long off the 1min bullish divergence based trigger .

How strong is this potential support? +30+ pip bounce so far.

http://i33.tinypic.com/2hx98oi.gif

excellent
the engulfing bullish 1 min candle was my trigger
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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