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Cable Update (GBPUSD)

  • #176,561
  • Oct 15, 2009 4:29am Oct 15, 2009 4:29am
Quoting Bull_Bear
perish the thought that i will ever laugh at you or your trades.
  • #176,562
  • Oct 15, 2009 4:32am Oct 15, 2009 4:32am
Quoting legacy
Agreed. Something that I learned by bitter experience.
The meat and potatoes trades with high pip value pay the bills just as good if not better than trying to predict the market, no need to predict when it's telling you ... Different strokes I suppose, as long as were all making green!!
  • #176,563
  • Oct 15, 2009 4:34am Oct 15, 2009 4:34am
Quoting Gainmoney
You mean u going to TP@ below 1.3600 :o ?? Are you kidding me?

Good chance he meant 1.6136!

Could be wrong though!
  • #176,564
  • Oct 15, 2009 4:35am Oct 15, 2009 4:35am
Quoting wormboy
Point taken.
Apologies for sounding like an asshole for the remarks to you earlier
However I have to correct your comments on me keep getting stopped out. For the record, I had only been stopped out failed attempt on eu so far ONCE. The details of that trade is in my trade journal. This is my second attempt & I am trying to build my short positions from what I see.
I am well aware that I am selling in an uptrend, not something that I usually do, but it is obvious that I do see a high probability setup for short else I won't be doing it...

bro i have to say i think that guy is wrong firstly we are not in an uptrend? we are in on mans land..we put in a lower low and higher hi on weekly..we probably in a diamond right now..Im with DT I placed a short as well again..(lol) 70 pips stop

but we are not in a uptrend..
  • #176,565
  • Oct 15, 2009 4:35am Oct 15, 2009 4:35am
Quoting forexlion
perish the thought that i will ever laugh at you or your trades.
If that is as close as a get from an apology from Lion than, I guess it will have to do...
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #176,566
  • Oct 15, 2009 4:36am Oct 15, 2009 4:36am
Someone mentioned earlier that it depends on what t/f's you are as to what the trend is and this is very true, For example.... I operate on a 1min trigger, 5min-intermediate and 30min trend t/f, so the fact that there is a downtrend on the daily is interesting but of no particular relevance (until we get to potential sbr areas on that (t/f) because my interemdiate and trend t/f trends are co-existant and also co-existant with the trend on the t/f's immediately higher than my own highest t/f, that of 30min..., ie the 1hr and now 4hr

My point is this, and as alluded to by others above, you can only trade what you see on your own t/f's, but be wary in paying too much attention to t/f's too far away from that of your own highest trend t/f.

BTW: this is a general comment, not directed at anyone, (before anyone gets upset, lol.)
ex member
  • #176,567
  • Oct 15, 2009 4:38am Oct 15, 2009 4:38am
Quoting beejay
hey guy, just because ur gambling came out ryt doesnt mean u are pro. u are just a gambler. i can bet it with u that those ur next prediction will be wrong. if u can lets bet????????/
you can lets bet, i do what my mind ask me to do,after that i take action. i posted my chart those who follow my trend,i got the signal early even when so many ppl are still selling.now the trend is out prices is above 200EMA and cable is on fire.my advice is that you should folllow me and let make the pips together.never trade against this trend becos is hot.......

what u see is what u get
  • #176,568
  • Oct 15, 2009 4:38am Oct 15, 2009 4:38am
Quoting Bull_Bear
If that is as close as a get from an apology from Lion than, I guess it will have to do...
Grrrrrrrrrrrr
  • #176,569
  • Oct 15, 2009 4:41am Oct 15, 2009 4:41am
Quoting nAVIN2007
bro i have to say i think that guy is wrong firstly we are not in an uptrend? we are in on mans land..we put in a lower low and higher hi on weekly..we probably in a diamond right now..Im with DT I placed a short as well again..(lol) 70 pips stop

but we are not in a uptrend..

mate, we are in an overall price action-peak/valley analysis uptrend to 4hr chart, and the daily chart has seen price go above the last LH of it's downtrend, so a warning that that downtrend may be in peril. The weekly chart from the HH @ 7044 has seen a HL then LH and L, with the monthly being in a downtrend re peak/valley analysis
ex member
  • #176,570
  • Oct 15, 2009 4:41am Oct 15, 2009 4:41am
Quoting forexlion
I am not going to short GU till it hits my end target of 1.6347

I will keep scalping 1 hour swings though
http://www.forexfactory.com/showpost...&postcount=543

next stop 1.6347
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 17 KB
  • #176,571
  • Oct 15, 2009 4:41am Oct 15, 2009 4:41am
For all of you guys... !!!

I my thought, all the position are right !!! It depend on your money management. So, if the market uptrend, the short one just wait until it down, etc.

So... there's no pro or beginner or something else, just keep trade and stay on course ! That's why I love this market.

With Patience and dicipline, the amazing thing will happen.
GL !
  • #176,572
  • Oct 15, 2009 4:42am Oct 15, 2009 4:42am
Quoting javajames
oups sorry bad chart
i'm sorry...but how did u draw your resistance line? it seems that it is very much so approaching resistance now on your chart.
  • #176,573
  • Oct 15, 2009 4:43am Oct 15, 2009 4:43am
I'm now short at 1.6215
  • #176,574
  • Oct 15, 2009 4:44am Oct 15, 2009 4:44am
Definately not a long term uptrend, check your dailys and weekys, this move is very impulsive and will be corrected, when? I don't know, but it will. Get your money while you can, because the short term trend will end soon enough.
  • #176,575
  • Oct 15, 2009 4:46am Oct 15, 2009 4:46am
Quoting wormboy
Point taken.
Apologies for sounding like an asshole for the remarks to you earlier
However I have to correct your comments on me keep getting stopped out. For the record, I had only been stopped out failed attempt on eu so far ONCE. The details of that trade is in my trade journal. This is my second attempt & I am trying to build my short positions from what I see.
I am well aware that I am selling in an uptrend, not something that I usually do, but it is obvious that I do see a high probability setup for short else I won't be doing it...
Hi Azim,
now that the slight misunderstanding is done with, i want to point out that i never ridiculed your trading,if it came across as such then perhaps there was some misunderstanding.
I agree with you wholeheartedly that if one follows a well defined plan, with a clear statistical edge then it doesn't matter if you are buying in a down move or selling a rally. As this buying and selling is part of a plan which over the long run will be profitable.
The market is so vast with so many participants employing many different methodologies, yet they all make money. The key is having a plan of action with a positive expectancy over the long run and having the fortitude to follow it. Sod what others might do or say.
Anyway i hope this week is a minor blip in your excellent method, I hope the week ends well and may you continue to prosper.
Best wishes.
  • #176,576
  • Oct 15, 2009 4:50am Oct 15, 2009 4:50am
Quoting DeadCowboy
Definately not a long term uptrend, check your dailys and weekys, this move is very impulsive and will be corrected, when? I don't know, but it will. Get your money while you can, because the short term trend will end soon enough.
This type of speculation whether it proves right or wrong is nonesense...read my post above, re peak/valley analysis, ie the way that the pro's guauge trend is Hh/Hl-uptrend, Ll/LH-downtrend...you can only trade what you see on the t/f's you are trading on, it is this type of speculation that falls into the 'trade what you think' instead of 'trade what you see' category that was referred to earlier.

G/L
ex member
  • #176,577
  • Oct 15, 2009 4:52am Oct 15, 2009 4:52am
Quoting forexlion
Okay, lets work on the next trade

Firstly, I must thank Piters for teaching me the FE technique which really worked my last trade.

We hit a fib level here

and the importance of this fib level is clear from this chart

and we moved a whole lot to get here, so we need to take some rest.

But,

hell the london session is about to begin and those boys need to clean ther hands too on this move !!!
Ok, the London boys came and cleaned their hands too in the running river

Next the US boys ........

.
  • #176,578
  • Oct 15, 2009 4:58am Oct 15, 2009 4:58am
Quoting bbmac
mate, we are in an overall price action-peak/valley analysis uptrend to 4hr chart, and the daily chart has seen price go above the last LH of it's downtrend, so a warning that that downtrend may be in peril. The weekly chart from the HH @ 7044 has seen a HL then LH and L, with the monthly being in a downtrend re peak/valley analysis

I hear u but its not that simple, it just means that we have plenty of bullish momentum..gotta take note of that
but on the weekly we right at the head n shoulder neckine..it could actually tank from here..but i aint holding my breath, come next week i will play realistic ranges..this one was a blow to say the least!!

thanks brother for the warnings
  • #176,579
  • Oct 15, 2009 4:59am Oct 15, 2009 4:59am
Quoting nAVIN2007
I hear u but its not that simple, it just means that we have plenty of bullish momentum..gotta take note of that
but on the weekly we right at the head n shoulder neckine..it could actually tank from here..but i aint holding my breath, come next week i will play realistic ranges..this one was a blow to say the least!!

thanks brother for the warnings
mate it's exactly that simple, but continued G/L
ex member
  • #176,580
  • Oct 15, 2009 5:01am Oct 15, 2009 5:01am
Trading with Support and Resistance with PA for your profit???
Definitely you guys need to visit and see trading room on Bank..

Mechanical Trading system rules!!!
PA S/R trader, your stop loss belong to us!!!
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