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Cable Update (GBPUSD)

  • #180,861
  • Nov 4, 2009 6:57pm Nov 4, 2009 6:57pm
Quoting Turveyd
Overall trend is still up, wait for a pull back or buying strength to get in Long only at this point.


Long near 6.510 ( and climbing ), Also on a break above 1.6563 also climbing.
except if we see a breakout below that level..
  • #180,862
  • Nov 4, 2009 7:02pm Nov 4, 2009 7:02pm
Quoting mloistianto
except if we see a breakout below that level..

Nasty pull back, coulda traded this to the Short side with a danger tight SL, hindsight hey!!

Low volume too risky, holding on the Long plan for some strength.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,863
  • Nov 4, 2009 7:02pm Nov 4, 2009 7:02pm
Chris, thanks for your input, many GREAT points here! There is sooo much to learn in FX. Every day is a learning experience.
No wonder why people lose.. They haven't even begun to try and they are live!
--As far as Dragon, Cable and Fibre, so far it seems to me this is a selling correction back to trendlines from before the news breakout. If we continue further... However, Old resistance may begin serving as support. Just my view. Things are getting interesting!
I t keeps erasing pat of my post - too long I guess

Quoting albchr
On just that one point. IMHO, if you're a quitter, you'll fail at anything and not just forex.
I also agree with your observation that many start trading without ever having "learned" to read a chart or as you say, perhaps never even looked at one. .......... I took a year of 18/7 non stop study and practice to learn what I know now and I still have SO much to learn. If I didn't "have" to start trading to survive, I'd be more than happy to have kept studying and demoing for another year or two before going live.
But as it is, this is now "on...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #180,864
  • Nov 4, 2009 7:06pm Nov 4, 2009 7:06pm
It fell.

Quoting Leche Mocha
6550 is getting close. Will it fall?
  • #180,865
  • Nov 4, 2009 7:06pm Nov 4, 2009 7:06pm
Quoting XTrade
Chris, thanks for your input, many GREAT points here!
There is sooo much to learn in FX. Every day is a learning experience.
No wonder why people lose.. They haven't even begun to try and they are live!
--As far as Dragon, Cable and Fibre, so far it seems to me this is a selling correction back to trendlines from before the news breakout. If we continue further... However, Old resistance may begin serving as support. Just my view. Things are getting interesting!

The key thing you have to learn is, that there really isn't much to learn, If the market is going up, Go Long on a pull back and vice versa and keep your SL tight your loses small and let your profit run.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,866
  • Nov 4, 2009 7:10pm Nov 4, 2009 7:10pm
Quoting Turveyd
Nasty pull back, coulda traded this to the Short side with a danger tight SL, hindsight hey!!

Low volume too risky, holding on the Long plan for some strength.
Yes yes.. I believe we are on the upside movement. like u said. but the steam is gone everytime we reach this level to 1.6600 and of course the bottom area too. let us see. if the long could hold on. btw, i'm still holding short right now. in green with small profit, could be wiped out anytime soon if it hit my SL.
  • #180,867
  • Nov 4, 2009 7:13pm Nov 4, 2009 7:13pm
Quoting mloistianto
Yes yes.. I believe we are on the upside movement. like u said. but the steam is gone everytime we reach this level to 1.6600 and of course the bottom area too. let us see. if the long could hold on. btw, i'm still holding short right now. in green with small profit, could be wiped out anytime soon if it hit my SL.

Toying with the idea of a long here, SL under 1.6500 and leaving it on over night to see what'll happen. ( risk 20, with a chance of making 100+ )

Good odds it'll bounce, my 1.6510 ( M1 1440sma ) came alot quicker than I expected.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,868
  • Nov 4, 2009 7:16pm Nov 4, 2009 7:16pm
I'm in, hold your short it'll rock
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,869
  • Nov 4, 2009 7:18pm Nov 4, 2009 7:18pm
Quoting Turveyd
Toying with the idea of a long here, SL under 1.6500 and leaving it on over night to see what'll happen. ( risk 20, with a chance of making 100+ )

Good odds it'll bounce, my 1.6510 ( M1 1440sma ) came alot quicker than I expected.
Yes2, see how the bear hits the bull soo hard.. we are above the TL now. and the support. THis will be interesting. adding a M1 1440sma, this point should be invincible. TL, SMA, and Support. Come break the level and move lower.. for my own sake..
  • #180,870
  • Nov 4, 2009 7:19pm Nov 4, 2009 7:19pm
Quoting Turveyd
I'm in, hold your short it'll rock
Now you are changing side? well2.. u deceive the bull..
  • #180,871
  • Nov 4, 2009 7:20pm Nov 4, 2009 7:20pm
Quoting mloistianto
Yes2, see how the bear hits the bull soo hard.. we are above the TL now. and the support. THis will be interesting. adding a M1 1440sma, this point should be invincible. TL, SMA, and Support. Come break the level and move lower.. for my own sake..

1440sma in trending markets has about a 75% success rate and as you can see can be used with 10SL's for 3x's the upside to downside
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,872
  • Nov 4, 2009 7:22pm Nov 4, 2009 7:22pm
Quoting mloistianto
Now you are changing side? well2.. u deceive the bull..

Just my luck, trades I stalk and execute perfectly 3seconds later break and crash down



Wussing it out +5 going to get some sleep and look for better plays tomorrow.


Consider it a confidence booster
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180,873
  • Nov 4, 2009 7:28pm Nov 4, 2009 7:28pm
my position:

sold at 6565

tp at 6464
  • #180,874
  • Nov 4, 2009 8:35pm Nov 4, 2009 8:35pm
We have hit support levels on Cable, Dragon and Fibre.

I am not convinced of shorts yet. Dragon trades are now 3 days old. 1/2 position closed @ news. This is tough, but I am trying. dragon 149.00 if breached I will re-evaluate.

Cable I am looking @ 6500 as support broken before was minor if not artificial. Cable is close to highs on daily. If dow breaks 10000 again, Gold stays above 1050 or rather breaks 1100!!! (WOW) new record highs this week.
(loving my bullion right now!)

USD should continue down and cable up. Just my thoughts as of now.
With FX, things change quickly, like a rip tide. so...
G/L all!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #180,875
  • Nov 4, 2009 8:51pm Nov 4, 2009 8:51pm
update
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  • #180,876
  • Nov 4, 2009 10:17pm Nov 4, 2009 10:17pm
Quoting Turveyd
Toying with the idea of a long here, SL under 1.6500 and leaving it on over night to see what'll happen. ( risk 20, with a chance of making 100+ )

Good odds it'll bounce, my 1.6510 ( M1 1440sma ) came alot quicker than I expected.
So why not adorn my ema charts with a tapestry
of colorful dotted lines to include the high range sma's:
120 / 240 / 360 / 540 / 720 / 1440. Turveyd would
be proud. Everything on a 1 min charts.

1440 = daily data, which now might serve as resistance.

Dr. D.
Attached Image
  • #180,877
  • Nov 4, 2009 10:24pm Nov 4, 2009 10:24pm
Quoting TexasforEX
This is a great week to long EG too

Me likey the double bottom and the doji.
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"Timing Is Everything. Really I Swear It Is"
  • #180,878
  • Nov 4, 2009 10:50pm Nov 4, 2009 10:50pm
I will be sideline and please new trader take care today is full of news.
http://www.forexfactory.com/
  • #180,879
  • Nov 4, 2009 11:50pm Nov 4, 2009 11:50pm
Quoting poortrader
The worst business ever. money leaves from your pocket like a water. Only big boys can earn because then know already where to move market.

5th and final account blown today.

Best wishes for you all guys. Now start looking newspaper for a job

Big boys will give you sometime but ultimately they will take everything and they keep making you stupid I have taken a decision now feeling very much tension free nothing left to give. In this business there is no double top there is no gartley there is no trendline these all make to make you fool. THey...
Look hard and you will find it . Pattern s are always there to guid you
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #180,880
  • Nov 4, 2009 11:54pm Nov 4, 2009 11:54pm
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