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Cable Update (GBPUSD)

  • #189,021
  • Dec 22, 2009 6:21pm Dec 22, 2009 6:21pm
Quoting dil
Lol i have long positions from 1.62 so im really mad now

OOOH,
dont marry your losing trades.
  • #189,022
  • Dec 22, 2009 6:24pm Dec 22, 2009 6:24pm
Quoting atheer1
Hello,

Reasons for my trade:
-Daily trend is down so I was looking for aretracement to sell.
-at the opening of Frankfurt cable started to move up,then makes a high at 1.60997.
-at this level it was barely touching BB upper limit.
-around this level it was making 50% retracement of the last day down move.
-there were other Rs to the up move namely H4 and R1.
-the price still below 50 MA which acts as a good R on 1h TF in a downtrend.
-Then when the price retraced a bit I took it short at 1.6091.
-when having all these Rs BB,50 fib,50MA,H4,R1 in...
good job.
keep it up.
want to hear from you.
See you @ frankfort session to pick the tops for the day.
  • #189,023
  • Dec 22, 2009 6:24pm Dec 22, 2009 6:24pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Above 1.6100 in my view, and on this note, it's bedtime.

And I agree with Malcomb, that since the probability of cable hitting 1.570 over the next 2 days is quite high, then why place an SL at 157x i.e. there should either be a call for 1.628 with a very tight SL of no more than 50 pips imho during this downtrend, or a more improbable SL of, say 1.5200 - by which time a margin call would have stopped most traders out I guess.

I'm looking for a retrace above 1.6100 before I consider buying 'on the demo!!!!'

Good night and good luck all.


Quoting malcolmb14
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.
  • #189,024
  • Dec 22, 2009 6:44pm Dec 22, 2009 6:44pm
Quoting dil
thinking same
  • #189,025
  • Dec 22, 2009 6:47pm Dec 22, 2009 6:47pm
Quoting Baby-Trader
good job.
keep it up.
want to hear from you.
See you @ frankfort session to pick the tops for the day.
Yes, over 90 percent of the time the top or bottom happens during Frankfurt, and I find it very funny to hear people everyday talk about the market taking off at that time. It has something to do with how the automated orders are entered before London opens. I 'll have to find that old post from a few years back.

Check out this chart from just the last 3 days. The blue is the 2 hours before london, notice how it is top or bottom of the london session. It happens day after day on the Cable.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 27 KB
  • #189,026
  • Dec 22, 2009 6:50pm Dec 22, 2009 6:50pm
Quoting malcolmb14
I hope this daily chart with the nice big fat blue line is clear enough for you

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...
lets see where we at by thursday then we talk, and please show some respect or do you need me to teach you some.
  • #189,027
  • Dec 22, 2009 6:53pm Dec 22, 2009 6:53pm
Quoting preneur
1.55 will be hit (mark that its below your stop )

Be it around the new year's
ok
  • #189,028
  • Dec 22, 2009 6:58pm Dec 22, 2009 6:58pm
Quoting sswilli99
Yes, over 90 percent of the time the top or bottom happens during Frankfurt, and I find it very funny to hear people everyday talk about the market taking off at that time. It has something to do with how the automated orders are entered before London opens. I 'll have to find that old post from a few years back.

Check out this chart from just the last 3 days. The blue is the 2 hours before london, notice how it is top or bottom of the london session. It happens day after day on the Cable.
good notice.
but the problem is how to know if is it top or bottom at that time.
I'm studying the charts hard to find a symmetrical mechanism to correlate things with each other.
  • #189,029
  • Dec 22, 2009 6:59pm Dec 22, 2009 6:59pm
Quoting BiggerPips
lets see where we at by thursday then we talk, and please show some respect or do you need me to teach you some.
Based on what you have that bias?
  • #189,030
  • Dec 22, 2009 7:03pm Dec 22, 2009 7:03pm
Quoting Baby-Trader
Based on what you have that bias?
Pretty sure he is just trolling and trying to get people to buy his "system" from him....
  • #189,031
  • Dec 22, 2009 7:10pm Dec 22, 2009 7:10pm
Guys doji on gbp/usd chart h1
  • #189,032
  • Dec 22, 2009 7:14pm Dec 22, 2009 7:14pm
Quoting dil
Guys doji on gbp/usd chart h1
and what does that it mean from your view?
  • #189,033
  • Dec 22, 2009 7:14pm Dec 22, 2009 7:14pm
Quoting sswilli99
Yes, over 90 percent of the time the top or bottom happens during Frankfurt, and I find it very funny to hear people everyday talk about the market taking off at that time. It has something to do with how the automated orders are entered before London opens. I 'll have to find that old post from a few years back.

Check out this chart from just the last 3 days. The blue is the 2 hours before london, notice how it is top or bottom of the london session. It happens day after day on the Cable.
Very interesting info about the 2H before the London open.
  • #189,034
  • Dec 22, 2009 7:15pm Dec 22, 2009 7:15pm
Quoting Baby-Trader
and what does that it mean from your view?
Going up to 1.6045 ~ channel up side and then down.
  • #189,035
  • Dec 22, 2009 7:15pm Dec 22, 2009 7:15pm
Quoting sswilli99
Yes, over 90 percent of the time the top or bottom happens during Frankfurt, and I find it very funny to hear people everyday talk about the market taking off at that time. It has something to do with how the automated orders are entered before London opens. I 'll have to find that old post from a few years back.

Check out this chart from just the last 3 days. The blue is the 2 hours before london, notice how it is top or bottom of the london session. It happens day after day on the Cable.
thats because they always (well almost always) push it up a bit before they knocker her down.. or visa versa..

I bet the same tonite upto 1.601x and then drop down into 1.58xx

guess just have to wait and see..

Cheers
  • #189,036
  • Edited 7:23pm Dec 22, 2009 7:21pm | Edited 7:23pm
Quoting Leche Mocha
Very interesting info about the 2H before the London open.
Here is the Quote from a couple of years ago, this is from another forum.
Quote
Originally Posted by jonnydenver69

You'd have to get up damm early.........see why i stick with just one major, every day i can pull 100 pips straight off, the reason for the V shape is to do with the quote driven system that they use.. before trading an auction is run called an opening call...they enter orders, but no automatic execution....then theres a matching period, the teh continous order book trading takes place. in the auction they can only enter a limit...

Quote
or market order....hence the v shape to serach the orders when the algorithim. is run.beacuse these are the only 2 alowed before the open, one specifies size and price the other is just size but no price, the market order can only be used at opening and closing auction. hence the move at the 16;00 london fix.....there you have it..
  • #189,037
  • Dec 22, 2009 7:25pm Dec 22, 2009 7:25pm
Quoting malcolmb14
that theory is correct ... here is dx weekly that I have been goingo n about for weeks now ....

also vsa is all about back ground....

Attachment
Buy into weakness & Sell into strenght

So as price is dropping, the pros are slowly buying?? whilst everyone else is getting ready to catch the south bound pip train.. only to find when price hits X.XXXX.. she derails? And the lighting express heads north.. haha

cheers
  • #189,038
  • Dec 22, 2009 7:27pm Dec 22, 2009 7:27pm
Quoting kasooi
Pretty sure he is just trolling and trying to get people to buy his "system" from him....
  • #189,039
  • Dec 22, 2009 7:47pm Dec 22, 2009 7:47pm
I think cable will retrace not far away above 6000..

Pending sell @6000 ; SL=6150 ; TP=open

I'll be back in 9 hours..
Patience + Discipline =
  • #189,040
  • Dec 22, 2009 7:50pm Dec 22, 2009 7:50pm
Quoting BiggerPips
lets see where we at by thursday then we talk, and please show some respect or do you need me to teach you some.

sorry no disrespect meant ...

just there a newbies in here that blindly follow others .. sadly they do. so if you are making , what you may consider a high risk trade due to counter trend trading then at least post a nice chart as to your thought process....

then at least when the newbies lose their money they know what not to do next time ...lol
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