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Cable Update (GBPUSD)

  • #189,881
  • Dec 29, 2009 12:41pm Dec 29, 2009 12:41pm
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #189,882
  • Dec 29, 2009 12:44pm Dec 29, 2009 12:44pm
Quoting malcolmb14
dx out of bull flag 1 hour as long as 78 holds....
I'm waiting to see 76 then i will BUY.
  • #189,883
  • Dec 29, 2009 1:03pm Dec 29, 2009 1:03pm
Quoting Baby-Trader
Bablo,
Exactly what I did.
And sure it helped me and exceeds my expectations.
but in my study I set my target to 1.5% daily of my equity instead of 100 pips per week.
This is my style. and I track my performance also bu using excel sheet.
we have 260 day trading per year.
try to calculate it if you make just 1.5% daily of your equity?
for examle 1000$--------------> 15$ first day.
Look at your equity at the end of year. wow.

Good luck every one.
Crunched some numbers and found that my weekly target translates to 10% compounded.

Bottom line is find your own sweet spot and comfort zone then add some patience and subtract greed. The result is very interesting.

Forex Trading for me is more of a challenge. Kind of a "Beet the System" feeling.

This post is not intended to be a gorilla like chest pounding rant. It is to remind the many people that are trading in thin markets that greed kills.

Key-Take Away Points:
Tortoise won the race. - Don't trade or the sake of trading
Greed Kill's - Small profits are far better than small losses
Plan your success - Put together a plan and follow it.
Never run after a trade - Trade setups are plentifull, don't rush.

Finally remember that Forex Trading is only a part of your life. Get away from your screen from time to time and experience the other parts of your life.
  • #189,884
  • Dec 29, 2009 1:05pm Dec 29, 2009 1:05pm
will GU gonna hit 1.5960?
  • #189,885
  • Dec 29, 2009 1:07pm Dec 29, 2009 1:07pm
I hope so. GL
  • #189,886
  • Dec 29, 2009 1:10pm Dec 29, 2009 1:10pm
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #189,887
  • Dec 29, 2009 1:15pm Dec 29, 2009 1:15pm
Quoting samdani786
I also expected it 3 days ago
see it
http://www.forexfactory.com/showthre...79#post3326779
  • #189,888
  • Dec 29, 2009 1:27pm Dec 29, 2009 1:27pm
Wow
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  • #189,889
  • Edited 1:41pm Dec 29, 2009 1:29pm | Edited 1:41pm
Quoting GlobalMacro
Bearish momentum subsided today
Cable tested former down TL around 1.5920 and bounced

As such I'm buying here @ 1.5955 ...just below yesterday's stopout level anticipating re-entry into prior range zone.


Merry Christmas!

Quick Update:

Cable fell abruptly thru 1.5900 and pulled back up just as abruptly indicating solid demand in this area

in the process weak longs were flushed out and hasty shorts suckered in

As long as this base remains in place and no sustained breakdown is in sight, I will have to assume that bears are trapped here

As such, I Will Continue To Carry My Long Position Set @ 1.5955 for the time being...
Hear the music before the song is over ...
  • #189,890
  • Dec 29, 2009 1:32pm Dec 29, 2009 1:32pm
Just entered another long @ 1.5908
  • #189,891
  • Dec 29, 2009 1:36pm Dec 29, 2009 1:36pm
Quoting egkid
Hello bro
I think you missed my few previous posts that is why you didn't answer me.
Any way i like to remind you of this
http://www.forexfactory.com/showthre...31#post3319131

And maybe this
http://www.forexfactory.com/showthre...64#post3322664
hi egkid,

as I already told you last time around you asked: I don't use moving averages so I cannot comment on those....
Hear the music before the song is over ...
  • #189,892
  • Dec 29, 2009 1:40pm Dec 29, 2009 1:40pm
From chart previously posted...Entry on the 5m as we closed below 24SMA...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,893
  • Dec 29, 2009 1:48pm Dec 29, 2009 1:48pm
Quoting GlobalMacro
Quick Update:

Cable fell abruptly thru 1.5900 and pulled back up just as abruptly indicating solid demand in this area

in the process weak longs were flushed out and hasty shorts suckered in

As long as this base remains in place and no sustained breakdown is in sight, I will have to assume that bears are trapped here

As such, I Will Continue To Carry My Long Position Set @ 1.5955 for the time being...
What do you reckon is the lowest low to cancel your bullish momentum ? or what do you think is the solid SL for carrying long ?

Thanks.
  • #189,894
  • Dec 29, 2009 1:48pm Dec 29, 2009 1:48pm
Quoting egkid
I'm waiting to see 76 then i will BUY.
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Blogging daily now at www.volume.zone
  • #189,895
  • Dec 29, 2009 1:52pm Dec 29, 2009 1:52pm
GM that 1.5950 zone was strong support .... we blasted thru it , came back up to test from underneath and had high volume reversal on 5 min

just thought I would show you this in case of any use to you

also yesterdays low value area is 1.5992 , we are quiet a bit below that now.

I bet there we a bunch of shorts sweating when gu was moving up and took profit just under support .... hence the buying action

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Quoting GlobalMacro
Quick Update:

Cable fell abruptly thru 1.5900 and pulled back up just as abruptly indicating solid demand in this area

in the process weak longs were flushed out and hasty shorts suckered in

As long as this base remains in place and no sustained breakdown is in sight, I will have to assume that bears are trapped here

As such, I Will Continue To Carry My Long Position Set @ 1.5955 for the time being...
Blogging daily now at www.volume.zone
  • #189,896
  • Dec 29, 2009 1:59pm Dec 29, 2009 1:59pm
this post is by magix.

As a small suggestion...watch the 15m chart for entries and use the 24SMA. IF price closes above 24SMA you probably don't want to be holding a short...If price closes below the 24SMA, you don't want to be holding a long.



can some one explain me this. 15m i think is a 15 minute chart 24sma i guess means 24 day simple moving average also what does 200ema means and what do we look in it. u guys talk about 4h chart. i use forex solutions and the have minutes, 1 hour and daily charts so how can i make 4h chart. thanks.
  • #189,897
  • Dec 29, 2009 2:08pm Dec 29, 2009 2:08pm
Quoting Nomi1
this post is by magix.

As a small suggestion...watch the 15m chart for entries and use the 24SMA. IF price closes above 24SMA you probably don't want to be holding a short...If price closes below the 24SMA, you don't want to be holding a long.



can some one explain me this....
Find the FXsolutions meta4 charts, if you are using the GTS pro, it is very limited in what it will allow you to see...you cannot have anything over a 200EMA, as well as it doesn't have a 4hr chart....

SMA is simple moving average.
EMA is exponential moving average.

Click the link below, listed as Method to my Madness...

This is a walk through of the areas and indicators I use...feel free to ask questions about this trading system in the thread.



Hope this helps
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,898
  • Dec 29, 2009 2:08pm Dec 29, 2009 2:08pm
Quoting Fng
What do you reckon is the lowest low to cancel your bullish momentum ? or what do you think is the solid SL for carrying long ?

Thanks.
To me it would be totally sufficient if bears could demonstrate their ability to keep the price below 1.5900 on a sustained basis.
Hear the music before the song is over ...
  • #189,899
  • Dec 29, 2009 2:14pm Dec 29, 2009 2:14pm
Quoting malcolmb14
GM that 1.5950 zone was strong support .... we blasted thru it , came back up to test from underneath and had high volume reversal on 5 min

just thought I would show you this in case of any use to you

also yesterdays low value area is 1.5992 , we are quiet a bit below that now.

I bet there we a bunch of shorts sweating when gu was moving up and took profit just under support .... hence the buying action

Attachment
Hi Malcolmb,

5 min is too low a TF for me, having said that though...the breakout (false as of now IMO) was very sharp...but all of a sudden selloff just evaporated...as long as bears cannot sustain further selling, this is to me nothing more than a knee-jerk reaction to some random news hitting the market...

bears at this point do have a real chance to show what they're made of, otherwise a very nasty Short Squeeze will be the only logical response...

Cheers
Hear the music before the song is over ...
  • #189,900
  • Dec 29, 2009 2:19pm Dec 29, 2009 2:19pm
thanx magix.
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