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Cable Update (GBPUSD)

  • #168,061
  • Sep 23, 2009 6:44am Sep 23, 2009 6:44am
Quoting gammase1
Hi BB,

I'm doing well, mate....
Thanks Pual your views always respected mate

Technically, cable is strong across the board. I'm currently holding long with TP eyed at 1.6500 and pulling the short trigger but I'm rethinking that now. I dare not counter cables strength when it's strong across the board, conversely when its weak.

I'm rethinking 1.6550 now as my TP and short reverse there too.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #168,062
  • Sep 23, 2009 6:48am Sep 23, 2009 6:48am
TP adjustment again....

http://www.forexfactory.com/showpost...stcount=167971

So.....

Cable 1.6361... SL.. 1.6280... TP 1.6550

EUR 1.4785...SL 1.4690... TP 1.4875

THAN reverse SHORT for both EUR & Cable
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #168,063
  • Sep 23, 2009 6:49am Sep 23, 2009 6:49am
Quoting Exciter135
Where did you short bro? I am short too, @.6421 and .6434. Will we wait until tomorrow for retracement?
Shorted at 1.6425 SL @ 1.6525 this just might be the last stand for bulls before we drop.
  • #168,064
  • Sep 23, 2009 6:50am Sep 23, 2009 6:50am
Quoting TauTrader
Good day to you,

Well done on your trades! Is it perhaps possible to post a chart or two? I would like to understand how you reason and conclude. Just out of interest...only if you are inclined to do so, that is.

Wish you ongoing success

Regards
It is hard to show in one single chart, but I have added the one that I was using as triggers. In watching the trade relations on the 4 majors, it is a fair assumption, in looking @ EU, that it looks toppy, where as GU, is sitting near bottom. EJ has taken flight, and GU, is just in the lift off stages.

Though I choose to mostly stick to a single play chart, when they sit on or at critical stages, it can leave me without a trade, and going off of mere assumption that you just follow the trend, doesn't always turn out so well.

When I seen the first day of what should be many days of red for EG, seeing that Cable had come close to my forecasted top, I was left scratching my head, do I short, do I assume the trend???

I know that the dragon hasn't come close to where it should, so was pretty sure on that long, I seen that EU is looking toppy and that GU has a lot of ground to make up, I know EJ is in a current daily uptrend, so, where to put the bets??

Looked at the hourly on EG, seen that though we had a possible and probable retrace, it sat in a 8 pip channel for several hours, not making much of a move, seeing that the MACD, OSMA were negative or weak at best, current Price was below the 24MA, and in a day of some down ticks for EG, it looked like a decent shot. I have gone wrong on these plays, but typically not so much that a day or so of hold would not get me back into money. Worth the shot, added the trade, a mere 20 mins before the chart spikes on the 4 pairs, and woke up to a 900 pip gain, a smoke break later, I was @ 1300, watched for my take profit line to get nailed and exited very happy. (Critical points market on the chart)

Not sure this is what you were looking for Tau, but I use the same indicators on all charts and timeframes to help me into scalps, and longer term plays.
Attached Image (click to enlarge)
Click to Enlarge Name: EG1hr.JPG Size: 94 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #168,065
  • Sep 23, 2009 6:55am Sep 23, 2009 6:55am
so what did I miss? other than GM's royal ass kissing?
Thank You
  • #168,066
  • Sep 23, 2009 6:57am Sep 23, 2009 6:57am
Quoting Magix

Not sure this is what you were looking for Tau, but I use the same indicators on all charts and timeframes to help me into scalps, and longer term plays.
Thank you for taking the time. Appreciated. All makes good sense.

Thank you again.

Regards
  • #168,067
  • Sep 23, 2009 7:00am Sep 23, 2009 7:00am
Quoting wormboy
so what did I miss? other than GM's royal ass kissing?
woit..bru bgun tdo ka??? still short? or want to add new short?
  • #168,068
  • Sep 23, 2009 7:02am Sep 23, 2009 7:02am
Quoting akumelayu
woit..bru bgun tdo ka??? still short? or want to add new short?
ya lar. just got up from sleep
still hold lar, i shorted @ 404, baru 30 pips down, no gabra gabra, man man lai hahahahahaha
Thank You
  • #168,069
  • Sep 23, 2009 7:03am Sep 23, 2009 7:03am
Quoting wormboy
so what did I miss? other than GM's royal ass kissing?
..... I'll be waiting for him to come back and give you a bit of lip too.... Nothing like the trash talk here.

Wots doing Wormie? I'm starting to fall in love with dragon
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #168,070
  • Sep 23, 2009 7:04am Sep 23, 2009 7:04am
Quoting TauTrader
Thank you for taking the time. Appreciated. All makes good sense.

Thank you again.

Regards
I am going to keep watch on this, of course the same triggers are present on the 4hr EG chart, and had counted on this being a multi-day play, just with a quick fall like this, I expect a bit of a retrace. I will look to enter again, if EG gets back to .9024, depending of course on the rest of the chart, but looks good for a long haul back to a 4hr support line, possible target zone between .8881-.8885.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #168,071
  • Sep 23, 2009 7:08am Sep 23, 2009 7:08am
Quoting Bull_Bear
..... I'll be waiting for him to come back and give you a bit of lip too.... Nothing like the trash talk here.

Wots doing Wormie? I starting to fall in love with dragon
bloody hell he put up the lyrics for a song for me yesterday! Owned him now lol
Doing okay bro, my last short position on dragon took a hit & I just shorted cable @404 before going to bed earlier. Woke up, saw the pair went a bit against me, I'll ride that one since this trade's stop is not that big. How are your trades coming?
Dragon is awesome yea? lol I told ya!
Thank You
  • #168,072
  • Sep 23, 2009 7:09am Sep 23, 2009 7:09am
Quoting wormboy
ya lar. just got up from sleep
still hold lar, i shorted @ 404, baru 30 pips down, no gabra gabra, man man lai hahahahahaha
whois grabra bro..hehehhe....ok je ni
  • #168,073
  • Sep 23, 2009 7:12am Sep 23, 2009 7:12am
whats up gang nice ,nice set up yesturday from bottom of range,
gonna go higher ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd d1 23 sept no5.gif Size: 17 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #168,074
  • Sep 23, 2009 7:14am Sep 23, 2009 7:14am
Quoting wormboy
bloody hell he put up the lyrics for a song for me yesterday! Owned him now lol
Doing okay bro, my last short position on dragon took a hit & I just shorted cable @404 before going to bed earlier. Woke up, saw the pair went a bit against me, I'll ride that one since this trade's stop is not that big. How are your trades coming?
Dragon is awesome yea? lol I told ya!
Yeah I saw that was a laugh....

My current trades.....

Cable 1.6361... SL.. 1.6280... TP 1.6550

EUR 1.4785...SL 1.4690... TP 1.4875

Dragon 149.05 ... SL 14795.. TP 150.70
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #168,075
  • Sep 23, 2009 7:17am Sep 23, 2009 7:17am
Quoting Bones
whats up gang nice ,nice set up yesturday from bottom of range,
gonna go higher ?
I second that Bones

How you doing mate? stayin on the green side?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #168,076
  • Sep 23, 2009 7:23am Sep 23, 2009 7:23am
Quoting Bones
whats up gang nice ,nice set up yesturday from bottom of range,
gonna go higher ?
Hey tone how's it going brother
Nice setup indeed. I was kicking myself for missing the retrace from 6165 bottom, had multiple long confirmation from my "lagging" H4 & H1.
Only thing left for me to do is reshort it back at the descending utl on the H4. Don't see it going any higher for now tbh.
How are your trades coming?
Thank You
  • #168,077
  • Sep 23, 2009 7:24am Sep 23, 2009 7:24am
How come I hear the GU south bound train coming?
Hope the US market wont spoil this already beutiful set up.
  • #168,078
  • Sep 23, 2009 7:24am Sep 23, 2009 7:24am
Im great bb having a nice time.

Bullish outside candle on H4 covering old consolidation ,$ retracing at mo but only one direction will be shown by end of day ?
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #168,079
  • Sep 23, 2009 7:25am Sep 23, 2009 7:25am
Quoting Bull_Bear
Yeah I saw that was a laugh....

My current trades.....

Cable 1.6361... SL.. 1.6280... TP 1.6550

EUR 1.4785...SL 1.4690... TP 1.4875

Dragon 149.05 ... SL 14795.. TP 150.70

Nice bro. But 6550? I'll take out your stop
Thank You
  • #168,080
  • Sep 23, 2009 7:28am Sep 23, 2009 7:28am
Trading not always great Wb ,since im in I hope your not right this time

We friends Wb always ....


Quoting wormboy
Hey tone how's it going brother
Nice setup indeed. I was kicking myself for missing the retrace from 6165 bottom, had multiple long confirmation from my "lagging" H4 & H1.
Only thing left for me to do is reshort it back at the descending utl on the H4. Don't see it going any higher for now tbh.
How are your trades coming?
On-site guru & also FF member's' psychiatrist, when not drinking tea
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