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Cable Update (GBPUSD)

  • #191,421
  • Jan 7, 2010 11:10pm Jan 7, 2010 11:10pm
300 pips against you...a pro?

lol

Money management?

lol

>>shakes head<<

Still chuckling over this one. This room has had a lotta pros. HAD being the operative word.

Professional plumbers, carpenters, sailors, and other hopeful pros. All went BUST.

Buwahahahahaha....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #191,422
  • Jan 7, 2010 11:12pm Jan 7, 2010 11:12pm
Quoting joemiami
Im short from 9492.....looking good so far
another 4hrs price rejection. GU is gonna tank soon i hope so. still keeping my trade anyway until my system says otherwise
  • #191,423
  • Jan 7, 2010 11:14pm Jan 7, 2010 11:14pm
Happy New Year to you, haven't seen you in here since last year.

C.
  • #191,424
  • Jan 7, 2010 11:20pm Jan 7, 2010 11:20pm
Quoting beejay
another 4hrs price rejection. GU is gonna tank soon i hope so. still keeping my trade anyway until my system says otherwise
As soon as it breaks below upward channel...we are really in business
Attached Image (click to enlarge)
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  • #191,425
  • Jan 7, 2010 11:23pm Jan 7, 2010 11:23pm
Quoting adie1976
I wanna enter the long entry but the 5960 200MA is so heavily break

and it might be down too so, i just wait
Good idea on waiting.

Only one way to play this right now but you have to be experienced to do it right.

Place a hedge at the middle of the channel. Typically when it breaks out of a channel like this it fakes one way and then back the other. This is what the fibs would tell you. Once target fib is hit exit profit trade and ride back down the other way. Can also place trade in at target for reversal.

However, I have seen where it doesn't fake out. Stop losses have to be placed on both sides above targets. So that it doesn't take you out both ways. Once it passes you set sl at be after calculating loss for one that was stopped out.

Hope this makes sense. Don't try it unless you know what you are doing....
  • #191,426
  • Jan 7, 2010 11:23pm Jan 7, 2010 11:23pm
H2 chart
Attached Image (click to enlarge)
Click to Enlarge Name: H2.png Size: 50 KB
  • #191,427
  • Jan 7, 2010 11:27pm Jan 7, 2010 11:27pm
Glad confirmation on the long took...

+32 closed on a quickie....

2 lots, 32 total.
Attached Image (click to enlarge)
Click to Enlarge Name: long1.GIF Size: 3 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #191,428
  • Jan 7, 2010 11:30pm Jan 7, 2010 11:30pm
I took a long 1.5928 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #191,429
  • Jan 7, 2010 11:30pm Jan 7, 2010 11:30pm
Quoting Ctic
Good idea on waiting.

Only one way to play this right now but you have to be experienced to do it right.

Place a hedge at the middle of the channel. Typically when it breaks out of a channel like this it fakes one way and then back the other. This is what the fibs would tell you. Once target fib is hit exit profit trade and ride back down the other way. Can also place trade in at target for reversal.

However, I have seen where it doesn't fake out. Stop losses have to be placed on both sides above targets. So that it doesn't take you out...
Many Thanks Mate
Guide me please
  • #191,430
  • Jan 7, 2010 11:32pm Jan 7, 2010 11:32pm
Well, that does it for me, Entered a 2nd long down on 1.5933 out with both positions at 1.5952. Could play the range game, but also had a nice trade just into Asian session, so really I can take tomorrow off. Don't know if I have enough will power to be at home and not to trade though .

Got out mainly because my 50SMA moved between my 100 adn 200 SMA's which for me means no trade direction and so I am done.

It has been a few years since I hung out here. Lots of new faces. Hope to see you guys around some.

:nerd:
"Keep your eyes on the helpers" - Mr. Rogers
  • #191,431
  • Jan 7, 2010 11:33pm Jan 7, 2010 11:33pm
OK + 20 pips ! I don't dare short at low level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #191,432
  • Jan 7, 2010 11:34pm Jan 7, 2010 11:34pm
Quoting Magix
Glad confirmation on the long took...

+32 closed on a quickie....

2 lots, 32 total.
Jeeesh...almost identical trades....great job
"Keep your eyes on the helpers" - Mr. Rogers
  • #191,433
  • Jan 7, 2010 11:37pm Jan 7, 2010 11:37pm
Quoting damonl
Jeeesh...almost identical trades....great job
I had it too, got out at top of channel though.
  • #191,434
  • Jan 7, 2010 11:38pm Jan 7, 2010 11:38pm
And one more quickie for another doz. Closed.
Attached Image (click to enlarge)
Click to Enlarge Name: long3.GIF Size: 4 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #191,435
  • Jan 7, 2010 11:39pm Jan 7, 2010 11:39pm
why don't pay time for trade to play?
still waiting 1.5990
  • #191,436
  • Jan 7, 2010 11:39pm Jan 7, 2010 11:39pm
Quoting Ctic
I had it too, got out at top of channel though.
Theres that 200EMA on the 15m....

Who knows if we gunna break?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #191,437
  • Jan 7, 2010 11:44pm Jan 7, 2010 11:44pm
Quoting Magix
Theres that 200EMA on the 15m....

Who knows if we gunna break?
I will probably go short here in a little bit. coming up on the reversal fib.
  • #191,438
  • Jan 7, 2010 11:46pm Jan 7, 2010 11:46pm
Quoting Baby-Trader
why don't pay time for trade to play?
I understand the meaning of each one of the words you said here, but when you put them together like this, I have no idea what you are saying....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #191,439
  • Jan 7, 2010 11:48pm Jan 7, 2010 11:48pm
Quoting Ctic
I will probably go short here in a little bit. coming up on the reversal fib.

Yes I have a pending sell in at the 50. I figure in the next 15-30 minutes it will trigger.
  • #191,440
  • Jan 7, 2010 11:51pm Jan 7, 2010 11:51pm
Quoting Ctic
I will probably go short here in a little bit. coming up on the reversal fib.
I am a long way away from confirmation to short side here....

IF we do confirm, I prolly be tucked deeply into a sleep by then, so will see what you guys have left me for the morrow...

Will hang out for a little bit, see if there is any more damage I can do.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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