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Cable Update (GBPUSD)

  • #183,441
  • Nov 17, 2009 10:57am Nov 17, 2009 10:57am
time to tighten stoploss. Should have taken it at 1.6756!

Quoting Wolftrader
maybe it will make another try at 1.6756 mark. Everything looks okay on 30M chart. Hoping that hour candle closes below 1.6779. 18 pips already.
Make a difference, Just don't hurt anyone on the way up!
  • #183,442
  • Nov 17, 2009 10:59am Nov 17, 2009 10:59am
There has only been 2 or 3 real decent trades today....If you have been fortunate enough to capitalise on this opps...bank your profit and run I would say....the market is undecided and is giving no real direction at the moment.. Trying to force a trade out of this price action will more than likely result in losses....No real decent trade opps at the moment and the market profile for the day is showing next to no decent levels to buy or sell of. Playing around in this small rangey side ways market is a first class ticket to a negative P&L.

bye all

Todays MP attached

2 good trade opportunities shown below
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  • #183,443
  • Nov 17, 2009 11:02am Nov 17, 2009 11:02am
Quoting kill56
update what u think guys
By the looks of the charts, it will go to the last high and bounce... Will it continue???
A. Finesse Williams Making Millions One Pip At A Time!
  • #183,444
  • Nov 17, 2009 11:03am Nov 17, 2009 11:03am
its alll about the dow up n down holding the hand of the doller playing games
  • #183,445
  • Nov 17, 2009 11:07am Nov 17, 2009 11:07am
out at 26 pips profit. I think Ill take it and run! Good trading all.
Make a difference, Just don't hurt anyone on the way up!
  • #183,446
  • Nov 17, 2009 11:07am Nov 17, 2009 11:07am
Quoting kill56
its alll about the dow up n down holding the hand of the doller playing games
All about the DOW or just an overall market correlation?

Assumption of this is much the same as saying that the sun rises because the rooster crows....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,447
  • Nov 17, 2009 11:07am Nov 17, 2009 11:07am
Finally i have also shorted.
  • #183,448
  • Nov 17, 2009 11:07am Nov 17, 2009 11:07am
Quoting aswilled
By the looks of the charts, it will go to the last high and bounce... Will it continue???

thanks bro
  • #183,449
  • Nov 17, 2009 11:08am Nov 17, 2009 11:08am
Welcome 1.6640/50...perhaps today will close below 6740 and ...mmm

Come on GU...just +137buck atm the worst ever trade so far this year..damm it.

Catch you guys later in asian....Take care
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  • #183,450
  • Nov 17, 2009 11:10am Nov 17, 2009 11:10am
Quoting Magix
All about the DOW or just an overall market correlation?

Assumption of this is much the same as saying that the sun rises because the rooster crows....

true 100% but we are having fun here bro
  • #183,451
  • Nov 17, 2009 11:12am Nov 17, 2009 11:12am
Quoting grashid
Welcome 1.6640/50...perhaps today will close below 6740 and ...mmm

Come on GU...just +137buck atm the worst ever trade so far this year..damm it.

Catch you guys later in asian....Take care
I'd be willing to bet that whatever position you take at this current moment, you will find yourself scratch even in 24 hours...I have a statistical probability forecast of 1.6729, from here where does it go??? Guess we will have to see if we get here first...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,452
  • Nov 17, 2009 11:13am Nov 17, 2009 11:13am
Quoting kill56
true 100% but we are having fun here bro
Just messing with ya brother...

Have fun, taking off fer a while...

I think come this time tomorrow, we will have a better sense of overall direction!!

Trade well!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,453
  • Nov 17, 2009 11:14am Nov 17, 2009 11:14am
Quote
out at 26 pips profit. I think Ill take it and run! Good trading all.

I agree. Price Action Analysis suggest bulls are not giving up so easily. I also have a small TP on my current short.
  • #183,454
  • Nov 17, 2009 11:17am Nov 17, 2009 11:17am
Quoting Magix
Just messing with ya brother...

Have fun, taking off fer a while...

I think come this time tomorrow, we will have a better sense of overall direction!!

Trade well!
i know bro u tooo but no direction yet
  • #183,455
  • Nov 17, 2009 11:25am Nov 17, 2009 11:25am
dow up doller down the market all up
  • #183,456
  • Nov 17, 2009 11:30am Nov 17, 2009 11:30am
Quoting Yngwie
Thats all for today... going to sleep now.. good luck guys.. just let it GU flowsss..

below list of my trade for today with total USD273 for today..
nice pips. i saw ur previous post. u used alot of fibo. other than fibo. are there any things u look out for?
  • #183,457
  • Edited 11:43am Nov 17, 2009 11:37am | Edited 11:43am
Quoting aswilled
Just got blackberry. With sprint. Don't know os. How do I find out and fix?
First check your operating system in your manual. If u dont have it(as most people) then check www.phonearena.com and search for your model. You will certainly see it. Most smart phones use Symbian OS.
Second, presently i know only MT4 platforms have a mini version for mobile phones. Some brokers like GFT who dont use MT4 also use this facility. When u confirm your os just talk 2 your broker.
  • #183,458
  • Nov 17, 2009 11:57am Nov 17, 2009 11:57am
I am still no short !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #183,459
  • Nov 17, 2009 11:57am Nov 17, 2009 11:57am
While I will look at a high and low, I like to view my charts as a line on close. That way if there are data spikes or anomaly trades or bad data I am less likely to consider or focus on them. For me, there is greater value with longer TF using line on close.

Based on the current price ("value"). When compared to historic closes...

Monthly - Long - It's value is higher than each and every close of the past 13 months.

Weekly - Long - value higher than each and every close over the past 54 weeks.

Daily - Long - value higher than past 90ish days of all closes.

4hr - Short - Value less than the each of the last 20 hrs of closes.

1 hr - Starts to loose clarity.

Because the 1hr looses clarity, for me, I see shorting at the 4hr Resistance and covering at support to be riskier than buying at support and selling at resistance. This would be for moderate term trades(hrs to days).

For long term trades (days to weeks), I see this as a pullback to a long term upward trend.

I don't set price targets because I don't know when a top is a top or a bottom is a bottom.

You can be in a positions for months or years based on monthly charts. Not my cup of tea, but for me, it helps to know where the most powerful of the trends (those I can get) are pointing.

Of course I am not vested in this opinion past the time I press "click" because the market is dynamic and it will change and I with it.

Have a great day.
BR

Quoting Magix
Must agree with you on the confusion thing....

Trading off of the monthly charts when we have been in channel for several months now is a difficult thing, and a gamble at best. The weekly can be helpful, but depending on your money managment, I believe the daily down are the best. Immediate terms can be played off of the 4h down to the 1m, depending on again, what you see in the charts.

Support and resistance - I see a gawd awful amount of lines drawn on charts that are little more then ambiguous at best...meaningless to the market. Now some...
  • #183,460
  • Nov 17, 2009 11:59am Nov 17, 2009 11:59am
USDCAD in at 1.05720 target adjustable 1.04360

GBPUSD in at 1.6795 target adjustable 1.6853, BE once we hit adjustable 1.6837

DONT COPY MY TRADES OR YOU DIE
When life gives you lemons, make lemonade
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