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Cable Update (GBPUSD)

  • #174,041
  • Oct 8, 2009 2:50am Oct 8, 2009 2:50am
cable looks quite bullish atm
i will be waiting to reverse my long at the yellow area area of the H4 chart, which is:
1. the most significant previous high
2. neckline of the H&S
3. 50% retracement
4. crossing point of the 2 TLs
nice confluences to short imo
Attached Image (click to enlarge)
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  • #174,042
  • Oct 8, 2009 2:51am Oct 8, 2009 2:51am
Quoting crackberry
yea, i always wanted to say that dude,everytime i ignored him coincidently the trade that he advised is correct and that's what made him a douche bag. Every single time he's correct he gave me a hard time in the office and the house.



Thanks
Bro, you need to grow some balls, no offense intended. YOU are the one with the winning account. YOU are the one who is consistently profitable (assuming you are telling the truth).

When he stops blowing accounts and starts to make consistent profit he is allowed to give you a hard time. You need to tell him to get stuffed.
  • #174,043
  • Oct 8, 2009 2:52am Oct 8, 2009 2:52am
Quoting crackberry
yea, i always wanted to say that dude,everytime i ignored him coincidently the trade that he advised is correct and that's what made him a douche bag. Every single time he's correct he gave me a hard time in the office and the house.



Thanks
First of all, if you do not mind me asking, how old are you?

I would not be trading live money, but what I would is demo an account or I would be trading a few hundreds of dollars and just trade Micro lots, just to get your feet wet. But I get the feeling there is a little more to this story, because it would seem rather uncertain that someone who has been consistently unsuccessful for around 10 years, to force that upon someone else. Anyhow, if you are getting emotional in trading, then DON'T trade real cash, just demo it. Trading has to be a systematic approach. Consider that money spent when you make a trade, I do, and it has worked for ever since.
Trade Like a Robot make money Like a Bank
  • #174,044
  • Oct 8, 2009 2:54am Oct 8, 2009 2:54am
Hey Dude,
I agree with your sentiments.
We NEVER really know. I feel ther will be some retrace and took a fibre long now up 8 pips on that sentiment.

All my short term resistance levels for cable are broken.
Need rest.. Best of luck to you all.
See u at NY

edit to add. 6000 is a very important # to me

Quoting antic81
Morning all,

Looking at the 4Hr, we are very close to the high on the 6th October, touching the 38.2 Fib (1.6469 - 1.5777) at 1.6039,so it may be ready to poke through, or alternatively bounce solidly off and continue south, I think the last few days of uncertainty could well be a trend reversal, I am very tempted to go long here,
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #174,045
  • Oct 8, 2009 2:56am Oct 8, 2009 2:56am
Quoting raz
10 YEARS OF FAILURE!!!! I never knew there would parental abuse for Forex Trading. He definetly seems like the type of role model I would want mentoring me. At that point if he is failing that many years in a row, he should take the opposite trade on every decision he makes, that would probably render major success.
That's why, sometimes i just wanted to say that to my dad but it's hard to say right?because he is my parents. My father is a type of person who thinks the market would do like he say. Although i always talked to him that we should follow the trend. But i guess he's more likely a gambler not a trader.

Thanks for the advise
  • #174,046
  • Oct 8, 2009 2:58am Oct 8, 2009 2:58am
Quoting raz
First of all, if you do not mind me asking, how old are you?...
I am 22 years old, i have been trading options before and demo for almost 1 years before i am getting into this live account.

Everytime i am emotional i'd rather sleeping or do something else.
  • #174,047
  • Edited 3:11am Oct 8, 2009 3:00am | Edited 3:11am
Quoting XTrade
Hey Tau Trader,
hope all is well.
Happy trading to you! Would love to see your analysis on cable

edit. live and learn
i should have left one lot open. I cannot complain tho.
Good day to you,

Yip - hindsight.... Playing Monday fullback is always quite simple

If I left that full lot open - I would have banked another $ 600.00...But I did what I did at that time, because I needed to manage the current position.

Anyway, attached a H4 with some notes:

1) Price broke through this S/R level sitting @ 1.6046. Look at this level for a retrace back from the current level. May continue, or come back below.
2) To the upside, we have the high of last week sitting @ 1.6124. Apart from the 1.6100 round number - there is little in the way apart from the 1.6070 S/R.
3) Further up, we have the opening price of 2 weeks ago @ 1.6223
4) Above that, last month's open @ 1.6286

Below price, we see 1.6018/1.6020 S/R level

5) The monthly opening price @ 1.5980 will be a serious contender to try and prevent any further downside move. A good area to look for a bounce. This is the one I took this morning.
6) The weekly open of last week @ 1.5965 will form the bouble barrier with above to hold price.

Personally, I see price getting ranged between 1.6150 and 1.5980 during the morning to wait for further direction based on news.

Wish you all success

Regards
Attached Image (click to enlarge)
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  • #174,048
  • Oct 8, 2009 3:05am Oct 8, 2009 3:05am
Quoting bbmac
After yesterday's early london tweeezer bottom, making it a double bottom at the prev 1hr swing lo zone then later re-test making it a triple bottom and a bullish hammer up from that potential support, there really was no potential 4hr resistance until this prev sw hi zone price is currently in on that t/f extending 5999-6049 area.

I see a lot of entries on this thread that are simply not at potential supp/res when against obvious trend / bullishness/bearishness/evidence.

G/L
Nothing Wrong to be WRONG and even collect 15p on GU..

YES I made a call with short entry of the Upper TL. and yes, PA hit my SL with 15p.. Was a good try and a nice R:R too..
Calls or entries are different as the nature of those trades are, trend, counter, scalps, swings..

http://www.forexfactory.com/showpost...&postcount=119

but..

keep WINNERS to run, and cut the LOSERS is all about in this game...

My GY is still running UP, and we made a breakout here too..

[Chart]
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  • #174,049
  • Oct 8, 2009 3:08am Oct 8, 2009 3:08am
Quoting crackberry
Hey guys, i wanna share something that really bothering my mind. It's not about technical about GU but about my trading style.

I just trading live forex for almost a month after several months in demo. My dad has been trading for almost 10 years and keep blowing account everytime he put a capital on it. My father always put a pressure on me when i only go for 20-40 pips. My father and i have different account but he always push me to follow his trade, i would go for the trade if i got the same analysis on the chart but when i refused to take trade...
If hes blowing his account for the last 10 years than he's definitely doing something wrong. He needs to go back to basics and re-analyse his trading style..... Simple rules to follow are:

1. money management.
2. trading plan and stick to it!!!
3. enter trades on support / resistance, fibs
4. Don't get greedy, and chase the market
5. take away emotions as it's the biggest killer

If he practice the above in the last 10 years his trading skills will improve exponentially.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,050
  • Oct 8, 2009 3:09am Oct 8, 2009 3:09am
Quoting XTrade
Hey Dude,
I agree with your sentiments.
We NEVER really know. I feel ther will be some retrace and took a fibre long now up 8 pips on that sentiment.

All my short term resistance levels for cable are broken.
Need rest.. Best of luck to you all.
See u at NY

edit to add. 6000 is a very important # to me

Yeah I have a daily pivot point R1 at 1.6000, possible also phsycholigcal level, waiting for a possible retrace to 1.6041 before longing...that may not happen, we are sitting in a tight little channel on the 5 min chart, I may enter on the break of the resistance of 1.6070 level.

Just wondering if we are being set up for a massive bear move after the release of the BOE news...

Coming down nicely to my entry now...the closer it gets the more I will talk myself out of entering..I always end up doing that! lol!
  • #174,051
  • Oct 8, 2009 3:11am Oct 8, 2009 3:11am
Quoting Bull_Bear
Not till at least 1.6140 bro ...
I have been watching you for months. How do you deternine your calls? Are you a pure trendline trader? I seen some of yours go against but for the most you win. What style do you use? Please help. I wait to long to get in a trade and never maximize on the trade. I profit but very small compare to your trades.
90% LOSE, 10% WIN!!!!
  • #174,052
  • Oct 8, 2009 3:13am Oct 8, 2009 3:13am
The zone in the white square is a potential resistance confluence above current price. All eyes on Uk Boe/mpc rate and Qe info later n/c @ 0.5%/£175bn expected...but Qe is the one that could surprise...outside chance of a jump to £200bn

G/L

http://i34.tinypic.com/283ztx.gif
ex member
  • #174,053
  • Oct 8, 2009 3:13am Oct 8, 2009 3:13am
Quoting Piters
Nothing Wrong to be WRONG and even collect 15p on GU..

YES I made a call with short entry of the Upper TL. and yes, PA hit my SL with 15p.. Was a good try and a nice R:R too..
Calls or entries are different as the nature of those trades are, trend, counter, scalps, swings..

http://www.forexfactory.com/showpost...&postcount=119

but..

keep WINNERS to run, and cut the LOSERS is all about in this game...

My GY is still running UP, and we made a breakout here too..

[Chart]
Piters, nice ride on cable and dragon bro ... BEER MONEY this Friday
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #174,054
  • Oct 8, 2009 3:16am Oct 8, 2009 3:16am
Quoting Bull_Bear
Piters, nice ride on cable and dragon bro ... BEER MONEY this Friday
Thanks mate..

was a good run.. now I need to pick my gloves again to pick that GU spot...
  • #174,055
  • Oct 8, 2009 3:17am Oct 8, 2009 3:17am
Quoting Bull_Bear
If hes blowing his account for the last 10 years than he's definitely doing something wrong. He needs to go back to basics and re-analyse his trading style..... Simple rules to follow are:

1. money management.
2. trading plan and stick to it!!!
3. enter trades on support / resistance, fibs
4. Don't get greedy, and chase the market
5. take away emotions as it's the biggest killer

If he practice the above in the last 10 years his trading skills will improve exponentially.
yea i told him to back to basics but he ignored me. The biggest killer is emotion, i told him not to enter on the break out but he always ignored me. He never had a trading plan and always moving up his tp or SL. i am too tired to give him a good input because he always pushed me to do what he likes and i always back out when he pushed me but sometimes father and dad relation are too strong and give me a bad emotion. That's why i always stay out from the trade when he is pushing me

thanks for the advice BB
  • #174,056
  • Oct 8, 2009 3:18am Oct 8, 2009 3:18am
Quoting crackberry
I am 22 years old, i have been trading options before and demo for almost 1 years before i am getting into this live account.

Everytime i am emotional i'd rather sleeping or do something else.
hey there,

OMG!!!! this sounds like severe emotional abuse done thru forex trading....

find a job
move out as soon as you can
and if you still really wanna trade
do it on your own

All The Best To You!
Hear the music before the song is over ...
  • #174,057
  • Oct 8, 2009 3:20am Oct 8, 2009 3:20am
Actually I have re-addressed my entry and I have fibbed the move on the five minutes and will await the 50 retrace, currently bobbing around the 23.6...if I knew how to post my charts I would, but unfortunately I am not great at 'putering...haha!
  • #174,058
  • Oct 8, 2009 3:20am Oct 8, 2009 3:20am
the market will now go into tiny range ,cuz of news about BoE,i suggest u to sit on your hands and wait for the Bank , it may make same as AUD bank ... interesting
  • #174,059
  • Oct 8, 2009 3:23am Oct 8, 2009 3:23am
Quoting GlobalMacro
hey there,

OMG!!!! this sounds like severe emotional abuse done thru forex trading....

find a job
move out as soon as you can
and if you still really wanna trade
do it on your own

All The Best To You!
yea i love to trade dude, i think that's the best job for me right now, i am trying to learn every single day about forex. That's why i choose this path and always trying to ignore him.

thanks!
  • #174,060
  • Oct 8, 2009 3:24am Oct 8, 2009 3:24am
Hello Crackberry,

Some thoughts.

Part of growing up is rejecting your parents. A wise parent understands that and lets you do it. Others make it difficult and try to make their problems your problems. And when you won't take them, they can get angry with you and find fault with you, which seems to be what your father is doing.

Don't let anyone take your power away from you.

This problem of yours is probably less about trading than about you making a decision to stand on your own two feet and saying 'this is my life, this is how I'm going to live it'. Once you've done this, you'll probably find that the stress wil be removed from your live trading.

Alison




Quoting crackberry
Hey guys, i wanna share something that really bothering my mind. It's not about technical about GU but about my trading style.

I just trading live forex for almost a month after several months in demo. My dad has been trading for almost 10 years and keep blowing account everytime he put a capital on it. My father always put a pressure on me when i only go for 20-40 pips. My father and i have different account but he always push me to follow his trade, i would go for the trade if i got the same analysis on the chart but when i refused to take trade...
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