price now at 1.5960, now is a good time to start buying with s/l at 1.5726 and t/p at 1.6287. good luck on your shorts 
Cable Update (GBPUSD)
- #189,004
- Dec 22, 2009 5:33pm Dec 22, 2009 5:33pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Are you short GU right now or have you been on the sideline watching this down move all this time? I know you've been waiting for the retrace to 1.63 or 1.64 but it hasn't materialized. If GU decides to go straight to 1.57, will you still be just observing?
i gace up on waiting for retrace and am a day trader by nature ... so i will hop in and out of trades based on critical areas on my charts ( mostly todays and prior days value areas)
i have been in and out of the market 2 times today on gu , once of my GFT mobile trading platform for the iphone ( i am blown away by that application)
i typicaly only trade US sessions so missed the very peak at 6100 test
I do not post trades as am to damn busy trade eu , gu , gold and es
but here is a conversation i had with a buddy on skype that is a member of the forums/
[8:38:28 AM] ShawnO says: yeah hopefully we will get a nice retrace so i can get a good entry for a short..im mad i missed it last night big time. :@
[8:38:53 AM] malcolm britton says: 1.5970 / 1/5980
[8:39:01 AM] malcolm britton says: look for something there
[8:40:55 AM] malcolm britton says: gu 5 min
[8:41:01 AM] malcolm britton says: s/s 20 pip stop
Knowing where roughly i was looking for re-entry allowed me to place trade on an Iphone trading platform ... 1st time and it worked smoother than my regualr playform !!!
Blogging daily now at www.volume.zone
- #189,006
- Dec 22, 2009 5:36pm Dec 22, 2009 5:36pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
What about the theory that the pros buy into weakness and sell into strength (yes i stole that from you)??
also vsa is all about back ground....
Blogging daily now at www.volume.zone
- #189,008
- Dec 22, 2009 5:44pm Dec 22, 2009 5:44pm
Because its christmas , miracles happens 
Hi Dil
Sorry, I'm newer than most to Forex and have taken a break from trading over the holiday season just to observe what the market does over Xmas.
Could you say 'why' you agree now is a time to go long, despite the fact we're in an obvious downtrend now, and on the basis of the daily ADR, your stop could easily get taken out over the next 24 hours - just as 1.628 could be reached over the next 24 hours too; the question is, which of the two is more probable????
Would appreciate an answer.
i
- #189,010
- Dec 22, 2009 5:47pm Dec 22, 2009 5:47pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #189,011
- Dec 22, 2009 5:48pm Dec 22, 2009 5:48pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
price now at 1.5960, now is a good time to start buying with s/l at 1.5726 and t/p at 1.6287. good luck on your shorts
we are in the channel 6100 to 5747 . Pretty clear to me and simple.
why go making trade calls that make no sense at all right now ?. Not only that but your money management sucks. If you rally think risk is 1.5725 , then why not wait till down there to be making the long call , instead of placing stop down there and hoping for best. Your r/r right now is 1:1. You have to be right 50% of the time just to break even at end of year.
also we have had 4 red bars on daily .....no reversal at all in the makings and we dropped under major whole number 1.6000
you take this trade you will liekly lose 250 pip by Thursday. At this moment in time there is NOTHING on the charts that suggests an up move
Sorry to rant and this is an open public forum and everyone can trade their idea but please , at least back up your counter trend trade with a chart and reason why at least . I have tried explaining today with numerous charts why I think this will accelerate down. Your call is like ' hey let's jump in front of a bus and hope that is does not run us over'
Blogging daily now at www.volume.zone
- #189,012
- Dec 22, 2009 5:50pm Dec 22, 2009 5:50pm
Not sure traders know it's Xmas, and even if they do and despite it being Xmas, a miracle isn't guaranteed to happen - the last time we had such a 'miracle' i.e. a move from around this area to 1.629 (on 15th October), it wasn't Xmas, and another clear difference is we were in an uptrend then; we're now in a downtrend hence the question,' which is the most probable of the 2 targets i.e. 1.628 or 1.57x over the next few days?'
Not saying you're wrong, just asking questions as I always do...
i
Not saying you're wrong, just asking questions as I always do...
i
Because its christmas , miracles happens
- #189,013
- Dec 22, 2009 5:50pm Dec 22, 2009 5:50pm
price now at 1.5960, now is a good time to start buying with s/l at 1.5726 and t/p at 1.6287. good luck on your shorts
1.55 will be hit (mark that its below your stop
)Be it around the new year's
- #189,014
- Dec 22, 2009 5:54pm Dec 22, 2009 5:54pm
also we have had 4 red bars on daily .....no reversal at all in the makings and we dropped under major whole number 1.6000
...
I have tried explaining today with numerous charts why I think this will accelerate down. Your call is like ' hey let's jump in front of a bus and hope that is does not run us over'
Attachment
It will indeed accelerate...
1.55 coincides with USDX at 80, which marks the END of the March-November rally.
There are analysts even go far to predict a 2010-2012 downturn, which will take out ALL lows in the financial markets. (which i'm in the same boat, thinking to watch out)
- #189,015
- Dec 22, 2009 6:00pm Dec 22, 2009 6:00pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
ok we have a little up slope channel
support lower value area 1.5950
If this channel breaks to downside then move towards daily support levels 5870 / 5800 and 5750 , my 4 hour s.r lines is also picking up 5700 support from way back
support lower value area 1.5950
If this channel breaks to downside then move towards daily support levels 5870 / 5800 and 5750 , my 4 hour s.r lines is also picking up 5700 support from way back
Blogging daily now at www.volume.zone
- #189,016
- Dec 22, 2009 6:03pm Dec 22, 2009 6:03pm
- Joined Oct 2009 | Status: Trader | 1,342 Posts
Because its christmas , miracles happens
- #189,017
- Dec 22, 2009 6:08pm Dec 22, 2009 6:08pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
when you meet santa claus, ask him for GU retrace to 1.62
you never know in this crazy market time it may happen , but not till we get a solid 4 hour close back above 1.6050 zone.
Blogging daily now at www.volume.zone
