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Cable Update (GBPUSD)

  • #201,481
  • Feb 24, 2010 5:19am Feb 24, 2010 5:19am
Quoting handipips
where in a downtrend, we should hit 1.6287 by the end of the week.
  • #201,482
  • Feb 24, 2010 5:20am Feb 24, 2010 5:20am
Quoting nAVIN2007
yeah possible..i was thinking same thing yesterday but when i saw the 2 doji on weekly i expect this some b**tch to try and take out stops..this one is long term could be in it for 2 months
Bro, don't expect.
  • #201,483
  • Feb 24, 2010 5:24am Feb 24, 2010 5:24am
The Chart I sent before.
http://cdn.forexfactory.com/attachme...1&d=1267004137

and here is the update
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 29 KB
  • #201,484
  • Feb 24, 2010 5:36am Feb 24, 2010 5:36am
Let's wait for new home sales data, seeing from beginning of the month US dominate with some good data left buyer aside.
Will buyer get a chance to enter the market, or good data will allow seller continue the riding.

Have a good trading
  • #201,485
  • Edited 6:02am Feb 24, 2010 5:49am | Edited 6:02am
Trading is about energy. Direction of the market isn't always picked by more sellers or more buyers the way we think. Sometimes one side wins by default due to the other just standing aside. I said this yesterday, but I would be weary of selling because if you look at the monthly chart we're at a 50% retrace level of the March 09 to August 09 up move. The market bias is clearly down but a lot of large money may be weary to jump in due to the retracement level.

Large traders are notorious trend followers and may view this exact point as a place of caution. So there just may not be enough sellers to take price lower, which by default may give the market to the bulls until it gets to a level they feel like jumping back in. The higher the time frame the bigger the energy. Levels on monthly and weekly charts completely overpower short term support and resistance.

I say be very careful. I've attached a chart showing the monthly level. Take a look at the 38% fib level I highlighted. Then go into your daily chart and look at that reaction on a daily level. Market was in a clear down trend but that monthly level is powerful and caused a huge rally. We have to keep this in mind as we trade daily. Just food for thought, sorry about the long post.
Attached Image (click to enlarge)
Click to Enlarge Name: monthly gbpusd.gif Size: 19 KB
  • #201,486
  • Feb 24, 2010 5:49am Feb 24, 2010 5:49am
LOL.
No one is negative.
don't envy me.
Attached Image (click to enlarge)
Click to Enlarge Name: positions.JPG Size: 27 KB
  • #201,487
  • Feb 24, 2010 5:53am Feb 24, 2010 5:53am
Quoting Baby-Trader
Bro, don't expect.
this is the thing with trading what is important is knowing that market is capable of anything and prepare yourself for market for the worst..i know what u mean and its a thin line

for me..what is important is belief in analysis, when u trust yourself trading can become quite a different game..i hear u thou..

how is you and yur trading coming along brother?

u see i expect it to do the thing against my position to stop out shorts..i have a stop loss in place if it hit then, my bad got it wrong..LOL
  • #201,488
  • Feb 24, 2010 5:59am Feb 24, 2010 5:59am
Quoting Baby-Trader
LOL.
No one is negative.
don't envy me.
Damn those are some good numbers.
  • #201,489
  • Feb 24, 2010 6:01am Feb 24, 2010 6:01am
Quoting nAVIN2007
this is the thing with trading what is important is knowing that market is capable of anything and prepare yourself for market for the worst..i know what u mean and its a thin line

for me..what is important is belief in analysis, when u trust yourself trading can become quite a different game..i hear u thou..

how is you and yur trading coming along brother?

u see i expect it to do the thing against my position to stop out shorts..i have a stop loss in place if it hit then, my bad got it wrong..LOL
Hi My bro,
I'm doing very well my bro.
Just following my charts with a very small risk.
and only and only trade what I see.
I stopped to say I expect or I think.
I just trade the PA.
It was a very long way to come to this point.

If you have some time please visit the thread in my signature.
you will see how I enhanced my trading techniques and chart reading.

last week I made over +400 in just one day with low risk.

is it by Luck, I don't know.
I just do my best in this game.

Thanks for your comments and Good Luck & Happy Pips.

I think you didn't see this scree before.
http://cdn.forexfactory.com/attachme...1&d=1266331963
  • #201,490
  • Feb 24, 2010 6:06am Feb 24, 2010 6:06am
Quoting mwafrika
Damn those are some good numbers.
Can we see ur open positions?
  • #201,491
  • Feb 24, 2010 6:07am Feb 24, 2010 6:07am
this Image above with 12000$ I used a technique for scalping. and override a trade over another trade profits.

I have done this only once on my life.
  • #201,492
  • Feb 24, 2010 6:07am Feb 24, 2010 6:07am
What the hell is with all this bro crap? lmao.

On a trading note; is the Bennake speech likely to cause volatility? I haven't experienced trading when he's testified before.
{Promotion Removed}
  • #201,493
  • Feb 24, 2010 6:08am Feb 24, 2010 6:08am
Quoting bonus76
Can we see ur open positions?
there are already open.
Look at the image.
  • #201,494
  • Feb 24, 2010 6:14am Feb 24, 2010 6:14am
Quoting Baby-Trader
there are already open.
Look at the image.
I am impressed with ur results. U r definitely a bear.
  • #201,495
  • Feb 24, 2010 6:15am Feb 24, 2010 6:15am
Quoting bonus76
I am impressed with ur results. U r definitely a bear.
No I'm Not.
I only follow my charts. this is the key.

Good Luck Bro.
  • #201,496
  • Feb 24, 2010 6:15am Feb 24, 2010 6:15am
Quoting Baby-Trader
Hi My bro,
I'm doing very well my bro.
Nice work
And I was sweating @50usd/pip lol
How many % of your equity are you risking currently BT?
Thank You
  • #201,497
  • Feb 24, 2010 6:18am Feb 24, 2010 6:18am
Quoting PipSqueeze
What the hell is with all this bro crap? lmao.

On a trading note; is the Bennake speech likely to cause volatility? I haven't experienced trading when he's testified before.
He's not called helicopter ben for nothing .... bro
Thank You
  • #201,498
  • Feb 24, 2010 6:19am Feb 24, 2010 6:19am
Quoting wormboy
Nice work
And I was sweating @50usd/pip lol
How many % of your equity are you risking currently BT?
This will tell you my account size bro
anyway, I'm safe. don't mind.
but there is another rule (Hi Risk Hi Reward.) like you.(Following trend is not the only way to trade.)
  • #201,499
  • Feb 24, 2010 6:20am Feb 24, 2010 6:20am
Quoting Baby-Trader
This will tell you my account size bro
anyway, I'm safe. don't mind.
but there is another rule (Hi Risk Hi Reward.) like you.(Following trend is not the only way to trade.)
Hi Baby-Trader?
I was wondering, is that a demo acct? If not, that is very high risk. Correct?
  • #201,500
  • Feb 24, 2010 6:25am Feb 24, 2010 6:25am
Quoting Baby-Trader
This will tell you my account size bro
anyway, I'm safe. don't mind.
but there is another rule (Hi Risk Hi Reward.) like you.(Following trend is not the only way to trade.)

i guess what azim is after and me as well..what % risk were u placing to achieve those results, very impressive u can answer in terms of margin ie 5-10% or whatever. It gives an idea of your strength u see..that is why i ask
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