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Cable Update (GBPUSD)

  • #183,141
  • Nov 16, 2009 11:45am Nov 16, 2009 11:45am
Quoting nAVIN2007
falling wedge, bottom trendline and wave 5 complete..its in correction mode now hopefully
gold is out of control..making new highs
hey nav, you got a chart body? I can's see the wedge, what tf is it?
  • #183,142
  • Nov 16, 2009 11:46am Nov 16, 2009 11:46am
Quoting nAVIN2007
yes we all different just dont like trading small time frames, id rather enter once and leave it come 2 months later, thats where i want to be.

i hear yah thou...playing ranges like what we have is very profitable and i would have as well..if ony when i was live the first time i didnt lose so much, for me to long cable i have to be convienced..but now that time is changing, monthly close above 1.67...i will be long

happy trading to u ...glad u making pips
Nav...

The thing is, I don't play the shorter term time frames because I lack the ability to forecast off of the longer terms. I trade off of the shorter term because this is a style suited to the time that I can commit to market.

I miss a lot of trades, and typically will not hold while I am asleep nor over weekends, because I know that there will always be another trade waiting or setting up.

I think a big issue and I am going to be a little vague on this has been...

People get trapped into mob mentality. This thread is a perfect example. One of the issues that I have had with this is that the mob has been wrong, taking out a lot of others with it.

This is supposed to be a place to trade ideas, strategies, trends, compare trading and analysis, but for so long now, it has been a popularity contest.

I can see by the way that you still challenge me that you are either still touched by the mob, or perhaps a little taken at our last conversation.

Break free Nav, go back to being who you were, keeping with your analysis. Take back your independence, I know a lot of folk here miss you brother.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,143
  • Nov 16, 2009 11:49am Nov 16, 2009 11:49am
http://www.gravatar.com/avatar/a7a6a...6%3Fs%3D50&r=R
Bernanke says that the FED’S mandate is to pay attention to changes in the value of the dollar and to keep it strong.

Written by Chris Wilkinson
November 16, 2009 at 17:35 GMT

But nothing happening so far
  • #183,144
  • Nov 16, 2009 11:52am Nov 16, 2009 11:52am
Quoting Magix
Nav...

The thing is, I don't play the shorter term time frames because I lack the ability to forecast off of the longer terms....


Right ON
  • #183,145
  • Nov 16, 2009 11:53am Nov 16, 2009 11:53am
Quoting Stocky Monk
The daily setup is looking more bullish as the day progresses.I think we are heading to test the top of the daily trendline resistance shown on the attached chart. The pretty all round bad US data this afternoon is only going to help the cause..

Target area 1.6880 ish (chart 1)

The days market profile is developing into a normal bell shape distibution will a fairly large ledge formed at 1.6715 also a key area from the 11/11/09 market profile.
Our next test is the trendline resistance at 1.6765/63 (chart 4) also a big level on the MP from the...
SINGLE PRINTS between 1.6786 and 1.68 have been filled. chart 3 on previous post.
  • #183,146
  • Nov 16, 2009 11:55am Nov 16, 2009 11:55am
Quoting malcolmb14
daily .... 1.6467 target , then bounce ...maybe 1.6600 only

Attachment

9/10 for effort
1/10 for result

so wrong.

after low volume up day friday on markets I was AMAZED this morning how they pushed us stock markets to new highs

the power of goldman sachs ....
Blogging daily now at www.volume.zone
  • #183,147
  • Nov 16, 2009 11:58am Nov 16, 2009 11:58am
101 traders viewing this thread - that what it says at the bottom

10 of these post regularly ?

We have no idea what the majority view on the thread is - even if 10 come on and say long, the silent majoritry may be 100 shorters


Anyway nobody knows - how many were long through the big dip in the euro a few minutes ago and blew their s/l or account

These are my rules:
Dont leave a position on through the news
Only scalp with a tight s/l on friday mornings and never pm
Never over the weekend
Go with the trend when there is a big fall back
As soon as I have a nice profit, move the sl to b/e
Check the spread before I trade
Never trade when upset or sick

The rest is details and I reckon I can plod along using these rules with NO indicators at all...
  • #183,148
  • Nov 16, 2009 11:59am Nov 16, 2009 11:59am
Hi,
I think looking for short around 1.6800 - 1.6850
  • #183,149
  • Nov 16, 2009 11:59am Nov 16, 2009 11:59am
you get your nice car?


Quoting malcolmb14
9/10 for effort
1/10 for result

so wrong.

after low volume up day friday on markets I was AMAZED this morning how they pushed us stock markets to new highs

the power of goldman sachs ....
  • #183,150
  • Nov 16, 2009 12:01pm Nov 16, 2009 12:01pm
Quoting skerdi-meta
http://www.gravatar.com/avatar/a7a6a...6%3Fs%3D50&r=R
Bernanke says that the FED’S mandate is to pay attention to changes in the value of the dollar and to keep it strong.

[color=#5f5f5f]Written by [url="http://www.forexlive.com/author/chris-wilkinson/"][size=4][color=#2255aa]Chris...

Yeees, the almost forgotten Strong Dollar Policy. That’s the reason my chart us going up, up and up.
There are three kind of lies: lies, damned lies and statistics.
  • #183,151
  • Nov 16, 2009 12:01pm Nov 16, 2009 12:01pm
Quoting Magix
Nav...

The thing is, I don't play the shorter term time frames because I lack the ability to forecast off of the longer terms....
no bro honestly im not..i trade to improve and every week i give myself a new challenge..i dont trade to make money i trade to be great at it...my goal is long term

i want to achieve success in this to the highest level..i listen to nobody, i trade based on what i think ...now im at a stage where im developing and have confidence in my ability hence the bigger time frame

if u look back 2 months ago, i couldnt stick to a plan, now i have been in this trade 3 weeks and honestly its there in the background but isnt taking up any of my time or thought....thats where i need to be...i will continue to raise the bar.

i post less because i dont need a constant reminder of what price is doing..trading needs to be without emotion and one should never be influenced to take a trade, because u simply wont see it through. I also dont want to trade to be in a trade, displine i need...theres a million reason why i trade longer term but influence is not one of them
  • #183,152
  • Nov 16, 2009 12:02pm Nov 16, 2009 12:02pm
Quoting allserene
101 traders viewing this thread - that what it says at the bottom

10 of these post regularly ?

We have no idea what the majority view on the thread is - even if 10 come on and say long, the silent majoritry may be 100 shorters


Anyway nobody knows - how many were long through the big dip a few minutes ago and blew their s/l or account

These are my rules:
Dont leave a position on through the news
Only scalp with a tight s/l on friday mornings and never pm
Never over the weekend
Go with the trend when there is a big fall back...

I took a long on the bounce off the 200 EMA on the 1m chart. Have cashed out another 26 and will wait for things to simmer down some.

Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,153
  • Nov 16, 2009 12:06pm Nov 16, 2009 12:06pm
MAE, ALL!

Well we are here (+6800)... Now the question is how far will she go....
X-


Quoting XTrade
GOLD NEW RECORD HIGH - USD Tanking - FIBRE UP, UP, UP,

Cable beginning to follow... Should get interesting this week.

If this trend continues , perhaps Retracement on LDN open or NY then Hello 6800 and beyond. We'll see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #183,154
  • Nov 16, 2009 12:08pm Nov 16, 2009 12:08pm
Quoting Magix
I took a long on the bounce off the 200 EMA on the 1m chart. Have cashed out another 26 and will wait for things to simmer down some.

Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
1.6765/70 ? :nerd:1.6862 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #183,155
  • Edited 12:23pm Nov 16, 2009 12:09pm | Edited 12:23pm
Quoting nAVIN2007
no bro honestly im not..i trade to improve and every week i give myself a new challenge..i dont trade to make money i trade to be great at it...my goal is long term

i want to achieve success in this to the highest level..i listen to nobody, i trade based on what i think ...now im at a stage where im developing and have confidence in my ability hence the bigger time frame

if u look back 2 months ago, i couldnt stick to a plan, now i have been in this trade 3 weeks and honestly its there in the background but isnt taking up any of my time or...

Lessons I have learned.

Indicators that work on the shorter time frames seem to work much the same on the longer ones, the difference is the amount of movement, and the time of the hold. I would rather be wrong on a shorter time frame and lose a couple than wrong on a longer and lose a lot.

I try keep things simple instead of guessing, playing ranges on the charts based on direction dictated by the weekly charts and using the 4 hour as the trend that I am playing.

I still scalp. Idle hands are the devil's playground....I take some hits, I make some pips....it's all good to me.

The immediate trend is what seems to be beneficial when discussed in a thread of traders that are trading around the clock. As there are so many new to market, they are looking at getting their feet wet on a trade. Counter trading based on long charts has seen a lot of these lambs (myself included) led to slaughter.

I post the long terms, up to a 4hr maybe even a daily or weekly, but still believe it to be more beneficial to discuss and post charts for the immediate hour down to 1m chart.

There is no right way of trading, but there are more successful strategies. Still working on mine!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,156
  • Nov 16, 2009 12:10pm Nov 16, 2009 12:10pm
Quoting manize
1.6765/70 ? 1.6862 !
GO MAN GO!

Take this ride for what it's worth!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,157
  • Nov 16, 2009 12:11pm Nov 16, 2009 12:11pm
1.70 unstoppable

The value of my GBP shares +GBP cash deposits in USD is up 34% since april

A happy bunny indeed - think I will buy this new Porsche

Here is the photo:

http://www.kitchenspecialistswinches...oak_porch_.jpg
  • #183,158
  • Nov 16, 2009 12:19pm Nov 16, 2009 12:19pm
i'm takin small short at 6808 with sl 15. I think that cable is overbought in every time frame, will wait for a retrace back to 6745 and the go probably long
  • #183,159
  • Nov 16, 2009 12:21pm Nov 16, 2009 12:21pm
Quoting Magix
Lessons I have learned.

Indicators that work on the shorter time frames seem to work much the same on the longer ones, the difference is the amount of movement.

I try keep things simple instead of guessing, playing ranges on the charts based on direction dictated by the weekly charts and using the 4 hour as the trend that I am playing.

I still scalp....
we all different and each have different threshold of emotion, i am more comfotable taking a long term trade than a short term trade...like the spike we had on euro, someone would have been long..and spiked and saying "bloody market"

market will give opportunity to every1 ..with a sense of randomness
it all depends on the individual

jacko is one of the best traders along with irgok...they have held positions for years..they are highly successfull
can u name a single scalper which has reached the same status?

but like i said..each to there own..trade safe
  • #183,160
  • Nov 16, 2009 12:30pm Nov 16, 2009 12:30pm
Quoting nAVIN2007
jacko is one of the best traders along with irgok...they have held positions for years..they are highly successfull
can u name a single scalper which has reached the same status?

but like i said..each to there own..trade safe
I can barely remember the names of the regular posters in here, and take all stats with a grain of salt.

I wouldn't wish to take away from the other long term successful traders, but would like to offer that just because you can watch a chart go against you for several days or weeks doesn't make you great or even in contention, as far as I am concerned it barely qualifies as being a trader, and certainly does not dictate nor follow rules of effective money management.

If you are trading the range, safety range...and the trend goes against you...I still say cut your losses and wait for the next setup...and I will not make this specific to any time frame.

Have you thrown the OSMA and MACD, standard settings onto a chart to see if you see what I see?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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