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cable short for gbpusd? 10 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting malcolmb14
dx i was expecting a reratrce to tets 76.5 to form wave 2 .. then wave 3 lift off to 85 ish , this has not happened yet ... may bei n the new year when market movements get back to normal
1-Was expecting the same but so far it keep go up
2-You got my pm
thanks for the compliment but i am 75% accurate at best , there are worse and there are better. Managing risk and be consistant is key in the fx game.

On the 2nd line i have been going on about the dx for 8 weeks now

http://www.forexfactory.com/showthre...35#post3173935

http://www.forexfactory.com/showpost...stcount=205824

http://www.forexfactory.com/showthre...72#post3176872

http://www.forexfactory.com/showpost...&postcount=903

those malco bashers on the weekend have not even commented on these posts ... saw this move a mile off and mentioned the trades before they happened , yes calls have been off like my Oct 26th call of 1.5800 by end of week but i have had the general bear bias for a while now.

I will not make trade calls perse .. like enter here , exit here . I do however make a few comments on markets as they progress.

Those that took note on me wittering on about the dx for the last 8 weeks would have made 900 pip euro and the real move is yet to come provided 76.5 level in DX holds and this three soldiers candl;e formation ( very bullish daily ) forms a wave 2. Wave 3 on the dollar index takes us to 85 ...wave 5 could complete in 90 and higher zone. IF this goes to top of long term channel dx could super cycle to 140....which sounds completely ridiculous right now , but with that volume and the basing for the last 8 weeks I would not be surprised.

In regards to getitng out of trade to early. Do not worry I do it every day.
Just set your targets that you want to meet. What are your yearly goals. Rome was not built in a day and nor will your account be. Today i took a loss on my day trading of 70 pips ... did it hurt .. sure it did. Will it effect my year performance , not at all . Is it frustruating to miss nice trades in eu and gu today ... sure it is .. will there be another trade just around the corner ? or course there will be.

So getting out of EU way back is frusutrating , but look at what your yearly goals are , make sure they are real .

Look at what you made .. not what you could have made. If i make an average of 250 pip per week every week I am happy. But there are hundreds and hundreds of pips i leave behind on this move or that move. What is the old saying ' a bird in hand is better than 2 in the bush'

For the traders that have been doing this for a while i can only speak for myself . GM , Mag and others can comment. I find instead of trading like a robot I let my mind take control . The charts say one thing and sometime my mind says other things. I guess i am still training myself to not think and just become one with the charts. There are days like this when charts and mind are in harmony and trading seems boring . Trading should be boring it means you are trading on auto pilot.

Quoting Baby-Trader
Thanks for your reply.
First, you are one of the greatest traders here.
Second, I want to ask you a question.
Why don't you think of this when it was at 1.5140?
from my very small experience I saw that thing is very toppy and I loaded one short @ 1.5134 & one @1.5087 & short GU @1.6646 & long USDCHF @1.0000.
and as anewbi I took my profits very very early @1.48 for EU on that US NFP day.
If I hold these trades for just 3 weeks do you know how much pips I failed to take? 2500+
but I still learn from all of you.
why we don't think of it when it at...
Blogging daily now at www.volume.zone
Quoting Baby-Trader
Direct Trade
GlobalMacro
Magix
Malcolmb
Wormboy
Yougi

by Alphabetic sort.

why don't discuss your trading techniques? and how do you prepare for setups and take confirmation on it and when & how to enter a trade and how & when to exit a trade.
I don't believe I make the ranks...I just get lucky once in a while.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
i was asked in Pm if I think this is going to 1.5700

My own personal thoughts is that it will go lower than this

monthly rounded top of sorts.

In order to get s/r levels I just plotted lines at the high and low of each monthly candle on the down move , a really neat little trick for those newbies out there that are just learning about s/r level

this gives us support level 1.57xx , 1.53xx . 1.50xx , 1.45xx , 1.4050 ,1.3155 , these are the battle lines. If one gives then in theory we move to the next one. Place stop 150 pip above the one we just broke.

Attachment
Blogging daily now at www.volume.zone
Attached Image (click to enlarge)
Click to Enlarge Name: gud02.gif Size: 21 KB


Quoting malcolmb14
i was asked in Pm if I think this is going to 1.5700

My own personal thoughts is that it will go lower than this

monthly rounded top of sorts.

In order to get s/r levels I just plotted lines at the high and low of each monthly candle on the down move , a really neat little trick for those newbies out there that are just learning about s/r level

this gives us support level 1.57xx , 1.53xx . 1.50xx , 1.45xx , 1.4050 ,1.3155 , these are the battle lines. If one gives then in theory we move to the next one. Place stop 150 pip above the one we...
Blogging daily now at www.volume.zone
I took sell g/u 1.6040, e/u 1.4275
Reasons:In my previous posts
GL ALL
Cya
I don't see the Swiss coming into the market impacting the upside.

By there past interventions and now the lack thereof, they have shown that they had an interest in EC and UC being higher. Once the dollar started reversing they had no need to push C down and have backed off. There is some evidence when you look at the recent fall in EC which for it was huge. Before the Swiss smelled blood at or about 1.5000 and were on it. At least at the moment, they are not to be found even at the 1.4900 price area.

When you add the nearly -100% correlation of UC to EU, the higher UC goes - the lower EU will.

BR


Quoting malcolmb14
i am praying for a nice little reatrce ...

they are even trying to hold it up over the xmas period saying some swiss bank will intervene

any intervention that is done now is for one reason only .... for them to stop intervening at 1.4400 , take profit as all retailers hit market into 1.4600 and then the swiss bank will sell it at a better value 1.4550 ish .

At the moment though i doubt it will get back to 1.4400.... man I was exoecting wave 2 on daily to form this week , caught me off guard when she dropped again this morning.
I thought it was just bs to hold the market up thru the xmas break

Quoting Big1red9
I don't see the Swiss coming into the market impacting the upside.

By there past interventions and now the lack thereof, they have shown that they had an interest in EC and UC being higher. Once the dollar started reversing they had no need to push C down and have backed off. There is some evidence when you look at the recent fall in EC which for it was huge. Before the Swiss smelled blood at or about 1.5000 and were on it. At least at the moment, they are not to be found even at the 1.4900 price area.

When you add the nearly -100% correlation...
Blogging daily now at www.volume.zone
We going up
Not trading, but heres the chart for my 1.6090 retrace area, showing the possible longside targets up to the hourly resistance range, currently showing about 1.6125...I think this is the area Mal was chatting too...
Attached Image (click to enlarge)
Click to Enlarge Name: toptgt.GIF Size: 74 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Any up move in UC will be a down move on EU.. posted this on EURUSD...

http://cdn.forexfactory.com/attachme...0&d=1261440015

Take care
BR


Quoting malcolmb14
I thought it was just bs to hold the market up thru the xmas break
Quoting Jemmy
6110..floating -10pips (Entry=6100 SL=6170 TP=5950)..
6060..profit taken..
Patience + Discipline =
Quoting Jemmy
sell cable @6126, SL=6385(weekly R1, TP=5720(weekly S3)
6060..floating +66pips, 340pips to go (entry=6126, SL=6385, TP=5720)
Patience + Discipline =
First resistance zone...M30
Attached Image (click to enlarge)
Click to Enlarge Name: m30res.GIF Size: 29 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting Magix
First resistance zone...M30
Now down again.

What next?
Support on the 15m...
Attached Image (click to enlarge)
Click to Enlarge Name: sup15.GIF Size: 29 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Long 1.6058 tp=1.6117 sl=1.6041
If everyone believes it, it will work.
i been working on a new system since last week, you can follow the system progress here:

http://www.myfxbook.com/members/maurice27/moe/9716
Resistance 2, 200EMA 5m chart.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting BiggerPips
i been working on a new system since last week, you can follow the system progress here:

http://www.myfxbook.com/members/maurice27/moe/9716
You've posted no details of your 'system' anywhere, so why post links here at all then? Frankly, if one couldn't make money in last week's clear and widely known GBPUSD direction, one shouldn't be in forex. Nor does 4 trades a system make. I know I speak for many who feel your posts lack any details, otherwise you're adding no value and current or eventual commercial intentions aren't permitted in this area of FF. Your posts currently are equivalent to telemarketing into our homes.
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