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Cable Update (GBPUSD)

  • #190,481
  • Jan 4, 2010 2:08am Jan 4, 2010 2:08am
Quoting c2v4l
I went to your blog. YOu mentioned that you trade naked. Do you really don't use anything? Even fibo? Or candlestick pattern?

Oh. And nice trade btw.
I just don't use forex indicator. Fibo yes
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #190,482
  • Jan 4, 2010 2:10am Jan 4, 2010 2:10am
Quoting Yngwie
I just don't use forex indicator. Fibo yes
161.8 fib on the hour chart, should see a bounce down now, but may be small.
  • #190,483
  • Jan 4, 2010 2:12am Jan 4, 2010 2:12am
Quoting Ctic
Good bounce spot, closed out 1.61052, +40 pips. not bad for 30 minutes of work. waiting for confirmation for continued up movement
Good job man! I'm still short and missed my opportunity to close my 2 shorts...hopefully will go down again after the news..What do you think?

zz
Jacko's turtle
  • #190,484
  • Jan 4, 2010 2:14am Jan 4, 2010 2:14am
Quoting Ctic
Just entered long @ 1.60652
thank you very much. my tp is 1.6240
  • #190,485
  • Jan 4, 2010 2:15am Jan 4, 2010 2:15am
Quoting zumzum
Good job man! I'm still short and missed my opportunity to close my 2 shorts...hopefully will go down again after the news..What do you think?

zz
It is a good possibility, I do think it should start coming down right now for a little bit. Waiting for confirmation. I do believe that this is long term down trend so may see it.
  • #190,486
  • Jan 4, 2010 2:27am Jan 4, 2010 2:27am
Quoting Ctic
proz how are your trades doing? I will give you some advice. Before you start laughing at a professional trader why don't you learn how to trade. In the meantime, why don't you take my advice?
Never Ever Give Up!
  • #190,487
  • Jan 4, 2010 2:41am Jan 4, 2010 2:41am
Quoting zumzum
Good job man! I'm still short and missed my opportunity to close my 2 shorts...hopefully will go down again after the news..What do you think?

zz
ZumZum,

We did get that bounce down that I was talking about but it wasn't much. It may still but be careful. G/U pair likes turning around on the 38.2 fib lines so it could go up a bit more before it comes down, but even then may not bet back to the bottom of where it was. I have closed all my trades waiting for confirmation for the next move.
  • #190,488
  • Jan 4, 2010 2:46am Jan 4, 2010 2:46am
Quoting Cobra
Hello buddy,

I'm not laughing to mean anything, why can't i laugh with no reason?
  • #190,489
  • Jan 4, 2010 2:47am Jan 4, 2010 2:47am
Quoting Ctic
ZumZum,

We did get that bounce down that I was talking about but it wasn't much. It may still but be careful. G/U pair likes turning around on the 38.2 fib lines so it could go up a bit more before it comes down, but even then may not bet back to the bottom of where it was. I have closed all my trades waiting for confirmation for the next move.
Ok, I'll watch it...and I'm not sure neither...Let's see and pray...lol
Jacko's turtle
  • #190,490
  • Jan 4, 2010 2:49am Jan 4, 2010 2:49am
I think it might have a chance of reversal at the purple trendline in my screenshot here(sorry its messy lol)... it just nearly hit and reversed, and it is based off todays earlier high, so it could be significant.

Don't think I am gonna place a trade on it though, just think it might end up being a bunch of reversal bounces possibly.

But my mind may just be seeing things which don't exist as well
Attached Image
  • #190,491
  • Jan 4, 2010 3:00am Jan 4, 2010 3:00am
Quoting proz
Hello buddy,

I'm not laughing to mean anything, why can't i laugh with no reason?
I do say you can laugh with no reason. It was just weird that you quoted my long trade at the bottm with a big red hour candle. I mean with my relatively small number of posts I made in this forum it appeared that you just figured I was full of crap. But now that we are 100 pips higher than that point you are laughing for no reason.

Bottom line:

The fibs are no laughing matter. They will save your ass, make your ass and protect your ass. As soon as you betray them, they will take your ass.
  • #190,492
  • Jan 4, 2010 3:09am Jan 4, 2010 3:09am
Went long at 1.6074. +90 now
I'm still laughing at this trade
  • #190,493
  • Jan 4, 2010 3:12am Jan 4, 2010 3:12am
Quoting Trillionaire
Went long at 1.0674. +90 now
I'm still laughing at this trade
Good job Trillionaire.

I got in and out of trades and wound up +102 pips. Not a bad day's work and the day isn't over yet...
  • #190,494
  • Jan 4, 2010 3:18am Jan 4, 2010 3:18am
News is coming in ~10min.

gbp is apparently supposed to be doing pretty badly this year according to the papers haha
  • #190,495
  • Jan 4, 2010 3:22am Jan 4, 2010 3:22am
AB=CD

Attached Image (click to enlarge)
Click to Enlarge Name: gbp1h.gif Size: 32 KB
It's Easy To Get In;.. It's Hard To Get Out
  • #190,496
  • Jan 4, 2010 3:22am Jan 4, 2010 3:22am
Quoting Ctic
Good job Trillionaire.

I got in and out of trades and wound up +102 pips. Not a bad day's work and the day isn't over yet...

Thanks ctic, manage 50 from 6116, and 1 more order still open set SL at 6158.
  • #190,497
  • Jan 4, 2010 3:23am Jan 4, 2010 3:23am
Quoting kasooi
News is coming in ~10min.

gbp is apparently supposed to be doing pretty badly this year according to the papers haha
Although news events does not effect the overall scheme of things, I do think since we are hanging out at the 161.8 on the 15M chart the news event will either do absolutly nothing or the price may regress and go back down for a little bit. Time will tell.
  • #190,498
  • Jan 4, 2010 3:32am Jan 4, 2010 3:32am
Good MAE Everyone...

Wishing everyone the very best for a healthy, happy and prosperous New Year!
Ghost Rider - WWTBMD?
  • #190,499
  • Jan 4, 2010 3:39am Jan 4, 2010 3:39am
Quoting Mr.C
Couple scenarios in my head on GU:

1. If the price reaches the upper blue TL : sell with ~20 pips SL and reverse.
2. If it doesn't reach the blue line: sell when the red TL is broken. Again ~20 pips SL and reverse.

Most optimistic scenario: both shorts.

Risk per trade no more than 1%.

TP ~ 1.6046 (DIV).
The 2nd scenario worked out nicely. As the market opened with a gap towards my TP, waited till the price filled it back and jumped in with my short at 1.6149. SL 20 pips. Moved SL at the break even before going to bed and was wiped out as my TP hasn't been hit by 10 pips and the price went up.

Quoting vincy balboa
Okay I really Give reply very few but 20pips is very Low SL in My Opinion For GU move more then 60 pips in a Minute and in tick 12pips .. so if you said 20pips SL you were be very Lucky guy to find right entry Every time , as there is So Fake OUT, And Some time on Double or Triple Top or Bottom .. Market Pair's Give 60 or 70 pips normal Move in Those Trend Analysis, but if you have en eyes on 1 minute an conclusion on tick size so may be that is going to be Good Entry for your 20pips SL, But I like the 20 pips SL to 106 pips TARGET.. indeed this...
Thanks for your opinion. As you can see the tight SL did its job well.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_100104_m30.gif Size: 10 KB
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #190,500
  • Jan 4, 2010 3:42am Jan 4, 2010 3:42am
+120pips

at about 1.6193 Price is at the 78% retrace, and R1 pivot
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