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Cable Update (GBPUSD)

  • #169,841
  • Sep 27, 2009 8:48pm Sep 27, 2009 8:48pm
1.5766 is FE 1 of last ABCD on daily chart.

Good trade all!
  • #169,842
  • Sep 27, 2009 8:52pm Sep 27, 2009 8:52pm
Thanks Alpha, I agree! & appreciate it.

On the last 2 pins - now 3 (looking m5 ) she retraced up. I am skeptical of longs. I try to trade in the direction of the trend.

Trying to outsmart the trend has not resulted well for me.


Quoting Alpha Hamste
Xtrade...no regret at all. Someone once said the Forex is not your mother. Any trade that add to your equity is a good trade (for me). I am with you with not going to give back any pips.

We can always catch her again during retrace or during further down. Always account for variable change. G/L to you.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #169,843
  • Sep 27, 2009 8:52pm Sep 27, 2009 8:52pm
Quoting Que
Why do you keep going long? At least show me a chart :nerd:

I think 1.5800 will act as support now...

This is where I think retrace will happen. That being said, I would not trade it until I saw conformation.

Que

Agreed on the 5800 que.
Here's my trade:
http://www.forexfactory.com/showpost...postcount=3114

I got a very good price methinks ... i hope
2usd/pip trade allows the wide stop btw. Let's see how this goes.
Have a good one , see ya london
Thank You
  • #169,844
  • Sep 27, 2009 8:53pm Sep 27, 2009 8:53pm
  •  sloof
  • | Joined Apr 2009 | Status: Birejji (ビレッジ) ►FOREX◄ | 141 Posts
Is it just me or are you guys getting chills down your spine that this thing is about to explode!
  • #169,845
  • Sep 27, 2009 8:55pm Sep 27, 2009 8:55pm
Well played, I wish you luck on it as well.

Que

Quoting wormboy
Agreed on the 5800 que.
Here's my trade:
http://www.forexfactory.com/showpost...postcount=3114

I got a very good price methinks ... i hope
2usd/pip trade allows the wide stop btw. Let's see how this goes.
Have a good one , see ya london
Que
  • #169,846
  • Sep 27, 2009 8:55pm Sep 27, 2009 8:55pm
Quoting sloof
Is it just me or are you guys getting chills down your spine that this thing is about to explode!
Yes, Yes, I AM!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #169,847
  • Sep 27, 2009 8:56pm Sep 27, 2009 8:56pm
Que,

I did not take it that way, I know what you are saying.

I wanted to try to lock in as many pips as possible. then Short again on retrace. So far her last attempt on retrace has been beat down.

I was thinking 5800 would be decent support before retrace.

I learn from you guys on a daily basis and I appreciate pointing that out.
Thanks!

Quoting Que
I am sorry, I did not mean to imply anything negative about you. It was just weird seeing a great short, then you saying you think its going down, then closing it. I was just confused, thought you may have meant it was going up and had a mistype.

Que
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #169,848
  • Sep 27, 2009 8:57pm Sep 27, 2009 8:57pm
Quoting Que
Why do you keep going long? At least show me a chart :nerd:

I think 1.5800 will act as support now...

This is where I think retrace will happen. That being said, I would not trade it until I saw conformation.

Que
200 pip asia

1.5800 gives way 1.5500 then 1.5000. This gives way ....wall lets see what cooks at 1.5000 BUT I have fib extensions and ew set ups that take us to 1.2000...doubt we will get there
Blogging daily now at www.volume.zone
  • #169,849
  • Sep 27, 2009 8:58pm Sep 27, 2009 8:58pm
If we stay approximately where we are for the next 3 min, I would call that a long retrace conformation. However, I do not think it will break 1.5844.

Lets be honest though, I have a little bias, as I am in a substantial short at the moment, and my stop is at BE at 1.5947. So take y words with a grain of salt haha.

Que

Quoting Magix
Yes, Yes, I AM!
Que
  • #169,850
  • Sep 27, 2009 8:59pm Sep 27, 2009 8:59pm
Quoting sloof
Is it just me or are you guys getting chills down your spine that this thing is about to explode!
I have been shorting gj and gu all evening 600 pip session in asia. i have not had one of those for a long time

buyers on support .15800 scarce ....
Blogging daily now at www.volume.zone
  • #169,851
  • Sep 27, 2009 9:01pm Sep 27, 2009 9:01pm
you guys think 1.5770 is a good support.Its trying to braek 1.58 again
  • #169,852
  • Sep 27, 2009 9:03pm Sep 27, 2009 9:03pm
I want this thing to come up to 1.5844, not because I have a long (Broker will not allow counter trades, but I want to get in another position...

Que
Que
  • #169,853
  • Sep 27, 2009 9:03pm Sep 27, 2009 9:03pm
.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
  • #169,854
  • Sep 27, 2009 9:09pm Sep 27, 2009 9:09pm
its looks like having a hard time breaking 1.58
  • #169,855
  • Edited 9:10pm Sep 27, 2009 9:09pm | Edited 9:10pm
Quoting Que
I want this thing to come up to 1.5844, not because I have a long (Broker will not allow counter trades, but I want to get in another position...

Que
I am with you on that! She is indecisive as of yet.

Are you going long on the way up? I am tempted. But it is against a rule I have set for myself. A bit more conformation then maybe an attempt.

Hopefully slapping her with another short on exit. This could be slow and painful.

BTW, that is great that you are teaching your kids.
I wish I started learning / trading Forex years ago. But, now that I am here
I am hooked. Happy to be a part of Factory too.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #169,856
  • Sep 27, 2009 9:15pm Sep 27, 2009 9:15pm
Quoting Que
I want this thing to come up to 1.5844, not because I have a long (Broker will not allow counter trades, but I want to get in another position...

Que
Dear

What means Broker will not allow counter trades?

thanks.
  • #169,857
  • Sep 27, 2009 9:15pm Sep 27, 2009 9:15pm
No, my broker does not allow hedging. Meaning I must close my short to go long. Unfortunately, my short is a great price and very large compared to what I would be able to open at the top of the retrace (Has to do with money management). Thus I just have to watch it go up and get in a second short when I conformation for short again.

Yes, he is reading BabyPips.com right now. After that he will be reading the J16 chart thread while I teach him Money Management. Then he can start a demo account. If he does well (profitable for 3 consecutive months), and contributes to the community with posts, I will open him a mini account.

Thats some ways off, but at this time, his enthusiasm is off the charts.

Que

Quoting XTrade
I am with you on that! She is indecisive as of yet.

Are you going long on the way up? I am tempted. But it is against a rule I have set for myself. A bit more conformation then maybe an attempt.

Hopefully slapping her with another short on exit. This could be slow and painful.

BTW, that is great that you are teaching your kids.
I wish I started learning / trading Forex years ago. But, now that I am here
I am hooked. Happy to be a part of Factory too.
Que
  • #169,858
  • Sep 27, 2009 9:17pm Sep 27, 2009 9:17pm
Out on all, will wait for a couple hours, see if we touch bottom again.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #169,859
  • Sep 27, 2009 9:28pm Sep 27, 2009 9:28pm
Nor can I. This is a result of that NFA ruling correct? FIFO?

That's GREAT that he is enjoying it!

May I ask what charts you look at to set up the trades we are discussing?

In J16 He suggests using a daily or weekly chart as a newbie.
Any thought?

Quoting Que
No, my broker does not allow hedging. Meaning I must close my short to go long. ....

Yes, he is reading BabyPips.com right now. ....

Thats some ways off, but at this time, his enthusiasm is off the charts.
Que
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #169,860
  • Sep 27, 2009 9:31pm Sep 27, 2009 9:31pm
Quoting XTrade
Nor can I. This is a result of that NFA ruling correct? FIFO?

That's GREAT that he is enjoying it!

May I ask what charts you look at to set up the trades we are discussing?

In J16 He suggests using a daily or weekly chart as a newbie.
Any thought?
M/W/D/4h/1h are your chart for analysis (large view), 15/5/1 entry (short view).

If you want to spot long term trade or level, you are better looking at large Tf chart, then when near level drop to short ones to look at reaction of price at level.
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