Cable Update (GBPUSD) | Page 9144 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #182,861
  • Nov 14, 2009 9:59am Nov 14, 2009 9:59am
Quoting djambazov84
what if those indicators give you a fake long reload and istead u find urself into climactic selling frenzy as suggested by those lower highs forming
also ur looking to relong close to weekly proven resistance which might have poorer chances of being in the money
I play shorter time frames and do not hold anything typically longer than a couple of hours, maybe longer with a stop loss set in profit if I catch a wild swing.

I look for trends on the longer time frames to help me with direction on the shorter, will scalp counter trend for a few here and there, but will still focus on what I interpret the trend to be.

I also don't play my charts with exceptions, or "what if's". On previous chart sets that I post, you can see that I have at all times when trading 4 time frames open, starting with the 1m, 5m, 15m, 30m. I toggle the 30 to the longer time frames watching for support lines and possible targets of resistance and try to stay out of play until I see breaks and holds.

Am I perfect? Nope.
Am I better than anybody else here? Does it matter?
Do I think everybody should play the same and off of the same charts? Nope.

This is just my chart as it relates to the weekly I had posted earlier.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,862
  • Nov 14, 2009 10:05am Nov 14, 2009 10:05am
Quoting Magix
I play shorter time frames and do not hold anything typically longer than a couple of hours, maybe longer with a stop loss set in profit if I catch a wild swing.

I look for trends on the longer time frames to help me with direction on the shorter, will scalp counter trend for a few here and there, but will still focus on what I interpret the trend to be.

I also don't play my charts with exceptions, or "what if's"....
this is my constructive rebuttal

http://www.forexfactory.com/showpost...&postcount=457
http://www.forexfactory.com/showpost...&postcount=479
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #182,863
  • Nov 14, 2009 10:08am Nov 14, 2009 10:08am
Quoting djambazov84
this is my constructive rebuttal

http://www.forexfactory.com/showpost...&postcount=457
http://www.forexfactory.com/showpost...&postcount=479
Absolutely...

And a completely fair reply as far as I am concerned.
This is a place to discuss trading, ideas and market direction, feel free to not agree, in the grand scheme of things, and because of the time frames that I play off of, even if my long term forecast is completely WHACK, I can still prosper.

Thanks for the reply.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,864
  • Nov 14, 2009 10:22am Nov 14, 2009 10:22am
ok this is out there and something i have been watching since July of this year

the 2007 top took 8 months to drop and we are forming almost the same pattern now

if infact this week completed the end of wave 2 right into resistance ( nice that it went 150 above just to lure in all the bulls ) , wave 3 ends at 1.4600 ish

AS I HAVE SAID BEFORE I GET ANY STUPID EMAILS FROM SWING TRADERS THAT CANNOT HAVE 300 PIP DRAW DOWN FOR 2000 PIPS REWARD , THIS WILL NOT HAPPEN TILL 2ND QUARTER IF NEXT YEAR . IF YOU ARE ONE OF THESE DO NOT BOTHER ME WITH DUMB PMS....

I am expecting a 40 to 50 % correction on the stock market ....thru to third quarter of next year

Attached Image (click to enlarge)
Click to Enlarge Name: chart1202.png Size: 121 KB
Blogging daily now at www.volume.zone
  • #182,865
  • Nov 14, 2009 10:55am Nov 14, 2009 10:55am
closed GU long before the weekend.
my plan? go with the price
Attached Image (click to enlarge)
Click to Enlarge Name: play5.gif Size: 21 KB
  • #182,866
  • Edited 11:24am Nov 14, 2009 11:14am | Edited 11:24am
Quoting fontu
Here is my gbpusd views :
Price from 1.6690/98 to 1.6666 & ready for inverted h& S in M5 tf to bull towards 1.6763/84 when again to try inverted h&S in H4 return to 1.6600. And from again to play Inverted h&S in H4 with daily to bull at 1.6992/7037.
Any thing can happen though or can play this way or that way the same or any H&S patterns but max. chances are in bull than bear apparently.
fontu
Nice work bro
My view since it fail close under 1.6520 on Thursday Then This will be my base for long.

PS:EGYPT will play now with Algeria If we win will play at World Cup 2010
We need to win 3 goals
  • #182,867
  • Nov 14, 2009 11:35am Nov 14, 2009 11:35am
Quoting egkid
Nice work bro
My view since it fail close under 1.6520 on Thursday Then This will be my base for long.

PS:EGYPT will play now with Algeria If we win will play at World Cup 2010
We need to win 3 goals
Thanks , hope your country play world cup 2010. result still not published , should be just started 12 min back,checked site .
http://www.fifa.com/worldcup/prelimi...345/index.html
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #182,868
  • Nov 14, 2009 2:09pm Nov 14, 2009 2:09pm
Quoting fontu
Thanks , hope your country play world cup 2010. result still not published , should be just started 12 min back,checked site .
http://www.fifa.com/worldcup/prelimi...345/index.html
fontu
We WIN 2/0
AMR ZAKI and EMAD METEAB 2 Goals
Attached Image
  • #182,869
  • Nov 14, 2009 2:50pm Nov 14, 2009 2:50pm
Quoting malcolmb14
ok this is out there and something i have been watching since July of this year

the 2007 top took 8 months to drop and we are forming almost the same pattern now

if infact this week completed the end of wave 2 right into resistance ( nice that it went 150 above just to lure in all the bulls )...
Hello bro
Next few days might be very good chance for sell with huge profit And i Agree with you also i see 1.6845 the top of this wave BUT I Have 2 question have no answer to them Yet:
1- Seems USA "FED" enjoy making US Index getting lower to improve export and industry and solve unemployment as they say,So Are they get enough of lower the index or will keep going??"

2-On Thursday the huge buy at 1.6520 I don't understand it!!

Thanks
EGkid
  • #182,870
  • Nov 14, 2009 3:09pm Nov 14, 2009 3:09pm
Quoting egkid
Hello bro
Next few days might be very good chance for sell with huge profit And i Agree with you also i see 1.6845 the top of this wave BUT I Have 2 question have no answer to them Yet:
1- Seems USA "FED" enjoy making US Index getting lower to improve export and industry and solve unemployment as they say,So Are they get enough of lower the index or will keep going??"

2-On Thursday the huge buy at 1.6520 I don't understand it!!

Thanks
EGkid
loads buying 1.6520 ... about same volume of selling top of channel 1.6700

pros are trading the channel

Attached Image (click to enlarge)
Click to Enlarge Name: chart1220.png Size: 228 KB
Blogging daily now at www.volume.zone
  • #182,871
  • Nov 14, 2009 3:50pm Nov 14, 2009 3:50pm
Quoting geocatalinfx
please can you tell me the site where i can see the COT ? i am interested for EURO/USD. thanks.

Hi, before you jump into an conclusion on your own trading COT, check this out... http://www.learningmarkets.com/index...art-three.html

COT charts,

http://www.cotpricecharts.com/commitmentscurrent/

(ED)
  • #182,872
  • Nov 14, 2009 3:57pm Nov 14, 2009 3:57pm
Quoting malcolmb14
loads buying 1.6520 ... about same volume of selling top of channel 1.6700

pros are trading the channel

Attachment

so are we
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #182,873
  • Nov 14, 2009 3:57pm Nov 14, 2009 3:57pm
Quoting grashid
Am flexible..

Monday open - London open will be my observtion and let see if i have an oppurunity to start my setting during that tf. Otherwise Monday NY or Tuesday (All time is base on Msia time).

Good luck for your bet.

Thanks buddy,
Always good to be flexible


I will only put on a lot today, waiting for CPI and Bank of england letter on tuesday... Adding if I am 100 points right or so...
  • #182,874
  • Nov 14, 2009 6:25pm Nov 14, 2009 6:25pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Sorry, I don't use or understand the 's*****ed' word in the title of your response to my questions.

Second, as I have a policy of not keeping open trades over the weekend, I closed all open positions last night, at a loss of 10 pips at .01 lots (just a small-time trader) so I'm not 's*******ed' as you put it, simply flat.

Point taken though about placing a buy order at the point I did, this was placed in the afternoon before cable retreated, and when I was looking for cable to test 1.6750 - ever been there before, thinking cable was going north when it was going south, or in your case where you thought it was going south and it hit the northbound express?

Thanks for your reply though.

Quoting malcolmb14
bought on a weekly doji at resistance ?

target based on symmetry as dj's is , 1.6460

Attachment
  • #182,875
  • Nov 14, 2009 6:54pm Nov 14, 2009 6:54pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Sorry Magix, I don't do casinos or gamble , so I was just posting my thoughts, but, as a junior member thought it might be best to post these as questions rather than say this is what I think.

I close all open orders on Friday night, whether in profit or loss as one aspect of my trading plan is to never leave trades open at the weekend, so I'm not a gambler or 'gap-hoper' who leaves a trade open all weekend 'hoping' to get a few pips out of a gap in my direction.

I'm looking forward to viewing a lot of 'for and against' posts and independent views as that's the best way to learn I guess, i.e. observe the different views on this forum, whilst trading one's own plan anyway.

I agree with you over the speculation re timeframes as I have allowed myself to be swayed by the speculation over timeframes and specific dates provided by some on this site in the past, and not placed trades even when I was largely certain cable would be going in my anticipated direction, because my anticipated direction was against the 'pros' on this thread's views.

I sat out most of last week too, but closed my last 2 open orders a few pips in the negative on Friday night to avoid any sudden shock at the Sunday opening so thanks for your advice re casinos, but, rest assured, I don't do casinos.

I'll be looking to Monday morning London's opening as always before placing my first trade of the week, in line with my trading plan, and here's to a successful trading week ahead.

Quoting Magix
IMO, Guessing the gap and weekend holds are done by the long termers, and a gamble for the rest. There are so many opportunities that will present throughout the week, if you want to gamble some funds over the weekend, why not hit the casino?

That's just me.

I think a lot of folk will agree that we have seen a short to consolidation area on the charts favoring a long position, but every play is up to the individual trader.

The weekly I have posted, with a few indies, shows more by way of support with targeted areas, and as momentum and trends...
  • #182,876
  • Nov 14, 2009 8:58pm Nov 14, 2009 8:58pm
GU H4
Attached Image (click to enlarge)
Click to Enlarge Name: guwh4.gif Size: 14 KB
  • #182,877
  • Nov 14, 2009 9:11pm Nov 14, 2009 9:11pm
Quoting malcolmb14
ok this is out there and something i have been watching since July of this year

the 2007 top took 8 months to drop and we are forming almost the same pattern now

if infact this week completed the end of wave 2 right into resistance ( nice that it went 150 above just to lure in all the bulls )...
got it, long for 2000 pips. stop loss 300 pips down
  • #182,878
  • Nov 14, 2009 9:18pm Nov 14, 2009 9:18pm
Quoting IbkA
Hi all

Here's my 'questions' on cable for next week seeing a visible cup and handle has formed on the weekly chart for a few weeks' now. (sorry for the arrows out of place on the chart!).

1....
fyi, cup and handle is an extremely strong bullish pattern, not a bearish sign
we just need to break the handle resistance and we go up more than 2000 pips like malcomb say.
  • #182,879
  • Nov 14, 2009 9:25pm Nov 14, 2009 9:25pm
Quoting malcolmb14
while we are all boasting how great we are ... this was easiest long of week

made over 40 % of my 6 figure account overnight

off to buy my porsche today
pathetic. more than 5 years trading and yet trading like a newbie
  • #182,880
  • Nov 14, 2009 9:26pm Nov 14, 2009 9:26pm
Quoting IbkA
Sorry Magix, I don't do casinos or gamble , so I was just posting my thoughts, but, as a junior member thought it might be best to post these as questions rather than say this is what I think.

I'll be looking to Monday morning London's opening as always before placing my first trade of the week, in line with my trading plan, and here's to a successful trading week ahead.
Yo Mango.

Don't be sorry for posting your opinions, this is a public thread and that's what this place is meant for. Just because I didn't agree with you doesn't mean that I am right in my analysis, nor that you are wrong, just means that we see different things based on our specific play styles.

Nobody has ever sent me a check for helping them prosper and I sures to hell haven't sent any rebates for people that said, "I did this because you said".

If you have disagreed with other posts in here and it has kept you out of what might have been a successful trade, that's the bright side of things, could have been a lot worse if you got into the popular vote on direction and lost a mitt full of money.

When all others are against you, I still believe that if you play your own way you will learn more from a loss than will from the score if you had played off somebody else's call, it would certainly stick in your head a lot more.

It does sound like you have some good thoughts and seem to be disciplined in your trading my friend. Wish you all the success that this market will offer you.

Trade well!!

M
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
343 traders viewing now, 3 are registered:
Ac2007bmw
,
Olu
,
meugampong