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Cable Update (GBPUSD)

  • #170,301
  • Sep 29, 2009 12:10am Sep 29, 2009 12:10am
Quoting Bull_Bear
Wormie, gotta love when a plan comes together...

Wheres are you thinking of taking dragon off the table. I'm thinking 143.70 for now.
hey bb, loving it yea lol

For dragon I've taken half off the table yesterday @141.97
http://www.forexfactory.com/showpost...postcount=3136

The remaining position had been locked @141.55
Basically I've got nothing to lose, so I'm gonna let this remaining trade work and see if 145 level test is possible. If we can manage that, I'll keep holding till 146.5 -147 level to offload.
Thank You
  • #170,302
  • Sep 29, 2009 12:14am Sep 29, 2009 12:14am
Quoting XTrade
Hi Wormboy....
getting married to your positions and not booking profits is baaad trading , you should know when to use the magic word DIVORCE
  • #170,303
  • Sep 29, 2009 12:16am Sep 29, 2009 12:16am
Quoting wormboy
hey bb, loving it yea lol

For dragon I've taken half off the table yesterday @141.97
http://www.forexfactory.com/showpost...postcount=3136

The remaining position had been locked @141.55
Basically I've got nothing to lose, so I'm gonna let this remaining trade work and see if 145 level test is possible. If we can manage that, I'll keep holding till 146.5 -147 level to offload.
Keep an on 143.70 level..... Think I'll take a breather there, than look to ride her north again 142.00.

Catch later at the london session gotta run.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #170,304
  • Sep 29, 2009 12:18am Sep 29, 2009 12:18am
Quoting XTrade
Hi Wormboy.

The short is from .6351 I had 3 open lots

this is the trade

2 were closed earlier before breakout retrace 1 is open.

I held as of now and decided to tentatively close @ 400 pip TP.
7 Pips away from that now.

"From earlier post---
I ended 2 lots @ 5892 for 459 pips. 1 lot open hoping for further retracement to 5890 or lower from last break out.
This is my best trade to date!!! (Due to longer TF) And the fine people that post in this thread.
-----"...
Brother I trade the high tf as well & there are times when it's okay to expose yourself to risk like letting the trade make almost a complete uturn to your entry, providing the risk is small. But letting a short run from 63xx went all the way to 58xx to turn back to 6200 is bad business.
5950 is the immediate resistance. I suggest you have a trail set slightly above that level. If your stop gets triggered, screw it & be happy to walk away with 1200 pips. Heck you could even afford 1 lot countertrade above 5950 with a 200 pips stop & you'd still walk away with 1000 pips.
Be smart my friend
Thank You
  • #170,305
  • Edited 12:27am Sep 29, 2009 12:19am | Edited 12:27am
Thanks Wormboy & Forexlion.

I broke the habit of not letting them ride. the next step is finding a balance between the 2 or as you say divorce!!!

2 booked. 3rd lot to booked. Closed!

The intention was to exit old short on setup for ride up to 6200.
Not to let old trade ride to 6200 then add more shorts. If that makes sense!

This was a great trade for me. I am quite happy with results.

459 pips lot one
459 pips lot two
407 pips lot three

1318 pips total - 3 lots short cable from Thursday (last)
My best trade ever. to date.

THANK YOU GUYS!

I will be flat as of now and look for next setup.

Quoting forexlion
getting married to your positions and not booking profits is baaad trading , you should know when to use the magic word DIVORCE
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,306
  • Sep 29, 2009 12:27am Sep 29, 2009 12:27am
Quoting XTrade
Hi Wormboy.

The short is from .6351 I had 3 open lots

this is the trade

2 were closed earlier before breakout retrace 1 is open.

I held as of now and decided to tentatively close @ 400 pip TP.
7 Pips away from that now.

"From earlier post---
I ended 2 lots @ 5892 for 459 pips. 1 lot open hoping for further retracement to 5890 or lower from last break out.
This is my best trade to date!!! (Due to longer TF) And the fine people that post in this thread.
-----"...
That's impressive. More reason for me to gain confidence
in longer time frames.

Shouldn't you be fielding questions rather than asking....

Lead on my friend.

Dr. D.
  • #170,307
  • Sep 29, 2009 12:31am Sep 29, 2009 12:31am
Im thinking today the t/ps for g/u are at 6005 and 6075....i think an entry on 30m 75 sma or even 50 ema are great places....what u guys think...
  • #170,308
  • Edited 12:44am Sep 29, 2009 12:35am | Edited 12:44am
I am still fairly new to FX.

Btw, I owe a lot of this to guys like Wormboy And the other fine traders in this thread. (yourself included)
I have thanked the rest profusely already!

I was hooked since day one. Initially I thought the lower TF charts were the way to go. They are useful for shorter term trades and for entry as I have learned (setup).

This last trade has though single handedly wiped out any
other trades I have taken. Thus, I will now be looking to setup longer term trades. And make the smaller ones on a correlating pair perhaps fibre, I have been studying it.

Once the trade became profitable I was ok with leaving it be. It was hard not to close @ 5800. However I was looking lower.
Perhaps a setup on next retracement 6200 for short. Will have to see about LDN tonight .

Quoting fourxtrader
That's impressive. More reason for me to gain confidence
in longer time frames.

Shouldn't you be fielding questions rather than asking....

Lead on my friend.

Dr. D.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,309
  • Sep 29, 2009 12:48am Sep 29, 2009 12:48am
Quoting XTrade
Thanks Wormboy & Forexlion.

I broke the habit of not letting them ride. the next step is finding a balance between the 2 or as you say divorce!!!

2 booked. 3rd lot to booked. Closed!

The intention was to exit old short on setup for ride up to 6200.
Not to let old trade ride to 6200 then add more shorts. If that makes sense!

This was a great trade for me. I am quite happy with results.

459 pips lot one
459 pips lot two
407 pips lot three

1318 pips total - 3 lots short cable from Thursday (last)
[b]My best trade ever....
Excellent trading
Thank You
  • #170,310
  • Sep 29, 2009 1:07am Sep 29, 2009 1:07am
Guys, great trading to you all!

I will not make LDN tonight, (2:00am EST in NY) nor do I want to give back any pips!

Thanks again!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,311
  • Sep 29, 2009 1:20am Sep 29, 2009 1:20am
Is it time to short?
Anyway, got a lil' cheeky and place a short @ 1.5934, TP 1.5891. Let's see if it will be wiped out.
  • #170,312
  • Sep 29, 2009 1:25am Sep 29, 2009 1:25am
Quoting Alpha Hamste
Is it time to short?
Anyway, got a lil' cheeky and place a short @ 1.5934, TP 1.5891. Let's see if it will be wiped out.
not realy.. or... not YET.. not when the PA is just above the DPP..
BTW.. UK news are arround the corrner too.. just chill.. bro..
Attached Image (click to enlarge)
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  • #170,313
  • Sep 29, 2009 1:27am Sep 29, 2009 1:27am
Quoting Alpha Hamste
Is it time to short?
Anyway, got a lil' cheeky and place a short @ 1.5934, TP 1.5891. Let's see if it will be wiped out.
i had my short @ 1.5952 already booked 70% of the profit rest at BE+3 lets see what london will give us
  • #170,314
  • Sep 29, 2009 1:29am Sep 29, 2009 1:29am
Quoting Piters
not realy.. or... not YET.. not when the PA is just above the DPP..
BTW.. UK news are arround the corrner too.. just chill.. bro..
Roger that, slide the TP up...scratch that, closed my position now @ 1.5915. Thanks bro!!
  • #170,315
  • Sep 29, 2009 1:32am Sep 29, 2009 1:32am
Quoting Piters
not realy.. or... not YET.. not when the PA is just above the DPP..
BTW.. UK news are arround the corrner too.. just chill.. bro..
u are ryt bro. my tp is just above the DP. will eveluate as per the reaction there.

thanks for the info
  • #170,316
  • Sep 29, 2009 1:32am Sep 29, 2009 1:32am
Quoting beejay
i had my short @ 1.5952 already booked 70% of the profit rest at BE+3 lets see what london will give us
Oops...I guess I got cold feet LOL. UK news are drawing near, guess it pays to be careful. G/L!!
  • #170,317
  • Sep 29, 2009 2:05am Sep 29, 2009 2:05am
Quoting GlobalMacro
Price at its second attempt to break above friday's low
This level is heavily offered atm
Overall bearish momentum still intact
Pull-back offers good value for money

I am selling more here as well @ 1.5916
Good Morning,

Price continued to probe Monday's asian session drop O/N
but not enough strength to signal a reversal of the prevailing bearish momentum
Big picture still bearish

On The Wires:
Japanese Finance Minister says that CB Forex intervention remains a possibility.

Will be watching price development closely.
and continue to carry shorts for the time being.
Attached Image
Hear the music before the song is over ...
  • #170,318
  • Sep 29, 2009 2:21am Sep 29, 2009 2:21am
Quoting Magix
Looking to add longs @ 1.5858(ish).

Seems to be the trend line and the 23.8 on my fibs for this last move.

Will watch for direction, but I gotta good feeling bout this point.
Well, not entirely sure I like the rapid fall to these depths, but I loaded a couple @ 1.5865, guess we see how she does over the next few hrz...

Back to bed for me.

Night!

Just added a couple dragon longs @ 142.38 as well.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #170,319
  • Sep 29, 2009 2:26am Sep 29, 2009 2:26am
Quoting Piters
not realy.. or... not YET.. not when the PA is just above the DPP..
BTW.. UK news are arround the corrner too.. just chill.. bro..
DEATH SENTENCE

The current 1 hour candle is a death sentence for bulls
  • #170,320
  • Sep 29, 2009 2:28am Sep 29, 2009 2:28am
Quoting forexlion
DEATH SENTENCE

The current 1 hour candle is a death sentence for bulls
Sure, now ya chime in....

LOL

I think it is a safe entry, is according to my charts anyways.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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