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Cable Update (GBPUSD)

  • #169,381
  • Sep 25, 2009 4:49am Sep 25, 2009 4:49am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Guys,

I posted this chart few days ago.

As per this, the cycle is complete. Also it's end of the week.
This weeks was mainly down move, next could be up, Ofcourse I could be wrong. This was based on 158.5xxish as 0% fib. So you can judge by adding more to the downside.

Feeling bit down today, to be honest, I am burned badly, very badly infact I am feeling ashamed to tell the amount I've lost.

Had few trades went into the wrong direction from last few days.

Despite trading from few years, I did classic mistake of ignoring the facts in front of my eyes.

However, I am not losing hope for now. Can only "hope" I do not make the same mistakes again.

I've heard stories of members with "strong will" on this forum who were burned badly and still had the guts to survive and make a come back, and are doing well now.

I salute you! You inspire people like me, who gets diverted.



Thanks
ams


Quoting ams
Hey Guys,

Let me put you to a test. I have attached a chart and I want all of you to look at it and let all of us know what do you think and why.

We might have different views and it would be good to know pros and cons.

Don't think I am someone who is a guru (not even born in technical analysis yet), just to have better understanding of how I am looking at things.

I would be a good time pass and some good brain exercise.


Thanks
ams
Attached Image (click to enlarge)
Click to Enlarge Name: 18909.jpg Size: 48 KB
  • #169,382
  • Sep 25, 2009 4:50am Sep 25, 2009 4:50am
Quoting wormboy

ok nanti aku belanja makan
aku tuntut..hahahhah....adeh aku dh mula merapu...sape phm,phm la..aku xreti sgt sepiking omputeh...
  • #169,383
  • Sep 25, 2009 4:52am Sep 25, 2009 4:52am
Quoting wormboy
spot on

it'll form a yummy double top if it gets there too
What's ur story mate... trading fibre nowadays?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #169,384
  • Sep 25, 2009 4:55am Sep 25, 2009 4:55am
Quoting ams
Hey Guys,

I posted this chart few days ago.

As per this, the cycle is complete. Also it's end of the week.
This weeks was mainly down move, next could be up, Ofcourse I could be wrong.

Feeling bit down today, to be honest, I am burned badly, very badly infact I am feeling ashamed to tell the amount I've lost.

Had few trades went into the wrong direction from last few days.

Despite trading from few years, I did classic mistake of ignoring the facts in front of my eyes.

However, I am not losing hope for now. Can only "hope" I do not make...

im sorry to hear this brother, i hate when good people lose money, anything that doesnt kill u can only make u stronger!! i wish u good fortune

i can understand why u went long, i think as a fundamentalist that can be a easy trap....they talk about recovery and we here.

sorry to hear u took a hit!
  • #169,385
  • Sep 25, 2009 4:56am Sep 25, 2009 4:56am
Quoting ams
Hey Guys,

I posted this chart few days ago.

As per this, the cycle is complete. Also it's end of the week.
This weeks was mainly down move, next could be up, Ofcourse I could be wrong.

Feeling bit down today, to be honest, I am burned badly, very badly infact I am feeling ashamed to tell the amount I've lost.

Had few trades went into the wrong direction from last few days.

Despite trading from few years, I did classic mistake of ignoring the facts in front of my eyes.

However, I am not losing hope for now. Can only "hope" I do not make...
Hi Ams...When you are already down, the only way is up. I guess almost all of us here have been burnt once or twice, or maybe be more. I also made a mistake yesterday on GU when it spiked up (obviously I went long) before it came crumbling down.

There will be many other opportunities mate...hopefully soon. Good luck!!
  • #169,386
  • Sep 25, 2009 4:58am Sep 25, 2009 4:58am
Quoting Bull_Bear
Looks good to me

Here's why I think 1.4750 for fibre..
Good day to you,

I have loaded a small short @ 1.4685, as price has not passed the weekly open @ 1.4705 at this point. Next short will be placed @ 1.4727, as this is the 50% line of this week. My SL will then be placed behind the high of last week @ 1.4765

Target open. I plan this one as a longer term trade...

Wish you success!
  • #169,387
  • Sep 25, 2009 4:58am Sep 25, 2009 4:58am
Quoting Wharfe
This will have to break out soon....


Hmm spooky, I just extended that utl from the wedge I posted back a bit, and it goes perfectly too the sept 11th high.....

http://i35.tinypic.com/2nb7d34.jpg

I am always amazed how these patterns appear.
  • #169,388
  • Sep 25, 2009 4:59am Sep 25, 2009 4:59am
Quoting ams
Hey Guys,

I posted this chart few days ago.

As per this, the cycle is complete. Also it's end of the week.
This weeks was mainly down move, next could be up, Ofcourse I could be wrong. This was based on 158.5xxish as 0% fib. So you can judge by adding more to the downside.

Feeling bit down today, to be honest, I am burned badly, very badly infact I am feeling ashamed to tell the amount I've lost.

Had few trades went into the wrong direction from last few days.

Despite trading from few years, I did classic mistake of ignoring the...
We've had our share of heated debates, AMS, which is good and healthy, and never anything personal.

But, on a personal level, I am very sorry to hear that you've had a bad week. You will come back from this setback, I am pretty sure of that. Anyone who has been in the market for any amount of time has had those kind of weeks that you describe, and will do again.

All the best, Paul
  • #169,389
  • Sep 25, 2009 4:59am Sep 25, 2009 4:59am
Quoting nAVIN2007
this one is just for u bro!!

big ass bear flag...

if u went long then the trendline is your problem right now

Nehhhh .. no problem.

Bear flag to you, tower bottom to me hehe. That reversal pattern had coincidentally formed on the 22nd - 26th May support. That subltl will alert me when to get off too.
I'm safe brother
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.JPG Size: 62 KB
Thank You
  • #169,390
  • Sep 25, 2009 5:02am Sep 25, 2009 5:02am
Quoting direct-trade
Is it a trap?

Market knows most went long at between here and 15950 ish, same for GBP/JPY.

Now, what would I do? I would look at the order book and decide if I wanted to capture the bottom of the market...

How to encourage more longs? Well, ascending triangle, 30% buy, 70/100% sells...again. Could be currently buying 30% for another off-load.

Most are convinced we are at a bottom, which is a good thing, means we can still off load slowly without panicing the market to quickly. Spike down to trigger Long Stops and accelerate to the downside...

SELL 14512 SL now to BE, price currently +60, lets see if we have enough momentume to break 14450
  • #169,391
  • Sep 25, 2009 5:04am Sep 25, 2009 5:04am
a tech analyst and fundie analyst walking past a tall building and they hear 'watch out' as some builders accidentally drop a scaffolding pole from the roof...Both look up and the techie jumps clear but the fundie doesn't move and is fatally injured by the pole as it hits him,..with his dying breath he answers the techie's question about why he didn't jump cear as they both had time to do so, and he answers 'I thought it would go back up.'

G/L
ex member
  • #169,392
  • Sep 25, 2009 5:04am Sep 25, 2009 5:04am
Quoting Bull_Bear
What's ur story mate... trading fibre nowadays?
lol not really. I do from time to time but nothing serious. But since we're on the lookie, might as well just
Thank You
  • #169,393
  • Sep 25, 2009 5:06am Sep 25, 2009 5:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Thanks for the consolation Nav!

Changing my attitude totally. Markets are not what they used to be before this crash.

They are much more clever and greedy now.

All I am focusing now is technicals. Act like a new trader always. Be alert, and stay out of major news.


ams





Quoting nAVIN2007
im sorry to hear this brother, i hate when good people lose money, anything that doesnt kill u can only make u stronger!! i wish u good fortune

i can understand why u went long, i think as a fundamentalist that can be a easy trap....they talk about recovery and we here.

sorry to hear u took a hit!
  • #169,394
  • Sep 25, 2009 5:07am Sep 25, 2009 5:07am
Just some "Million man Math" Here...

I took 12hr's & Day Chart pondering "All".
This Pair GBP/USD has done did her 23.6 "Retracement",
To the topside, W/Differing ballpark quotes of about
1.6041"ish"

-That's why no real buyers, into London above
that high of apx. 1.6038 "ish". -Maybe after US news?
Then she goes for 38.2

I think like Navin, if she breaks that "Inverted",
"Dallipidated" Head & Shoulders Chart on the 1hr.,
then there's more upside.
-But you're buying into a down trend.

-I'd be having
Rot in my shorts right now if i had them on, "in" the mkt.
Or a stop on my long if you got the stinky finger bottom.

Navin, Good Luck Buddy... "Keep Em On"!
I made my few pips and i'm done for today.
Unless something i see looks worthwile.
Good Luck,

Jeff !
I will work to Objectively Identify my Edges
  • #169,395
  • Sep 25, 2009 5:07am Sep 25, 2009 5:07am
Quoting ams
Hey Guys,

I posted this chart few days ago.....


I salute you! You inspire people like me, who gets diverted.

Thanks
ams
Hey buddy, I sure am sorry to hear this but you'll come back. I have no doubt. I made up a little saying many years ago I live my life by.

"When you're in the bottom of the hole, you'll never get out by looking down"

Keep the faith brother. If things are that low it's good news because there's no place to go but UP!!

My best wishes for your success my friend!
Ghost Rider - WWTBMD?
  • #169,396
  • Sep 25, 2009 5:07am Sep 25, 2009 5:07am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Thanks mate!

Hope is something I am never short of. Infact grateful to god that I am still in a job to bear this heavy loss.


ams



Quoting Alpha Hamste
Hi Ams...When you are already down, the only way is up. I guess almost all of us here have been burnt once or twice, or maybe be more. I also made a mistake yesterday on GU when it spiked up (obviously I went long) before it came crumbling down.

There will be many other opportunities mate...hopefully soon. Good luck!!
  • #169,397
  • Sep 25, 2009 5:09am Sep 25, 2009 5:09am
hi all

1.6125 is next target
  • #169,398
  • Sep 25, 2009 5:11am Sep 25, 2009 5:11am
Quoting TauTrader
Good day to you,

I have loaded a small short @ 1.4685, as price has not passed the weekly open @ 1.4705 at this point. Next short will be placed @ 1.4727, as this is the 50% line of this week. My SL will then be placed behind the high of last week @ 1.4765

Target open. I plan this one as a longer term trade...

Wish you success!
Hey Tau,

At was you working to a plan bro.... Fibre will tank next week I think. Today looks like give back across the board.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #169,399
  • Sep 25, 2009 5:12am Sep 25, 2009 5:12am
Quoting ams
Hey Guys ..
Happens to the best of us my friend. You have experience & knowledge. With a bit of self belief I'm pretty sure you'll get out of this fix.
Good luck & see you at the top
Thank You
  • #169,400
  • Sep 25, 2009 5:14am Sep 25, 2009 5:14am
Quoting wormboy
Nehhhh .. no problem.

Bear flag to you, tower bottom to me hehe. That reversal pattern had coincidentally formed on the 22nd - 26th May support. That subltl will alert me when to get off too.
I'm safe brother

nice....
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