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Cable Update (GBPUSD)

  • #205,261
  • Mar 11, 2010 4:45pm Mar 11, 2010 4:45pm
Quoting digger1
So in 3 months of trading you have a rough average of 12 pips a day , think just about any scalper does 2-3 times tht a day , so guys figure out if your going per trade , per day or what
Pips are useful, but it's the value per pip x number of pips that count in comparison to the account size.

12 pips per day is good, and great if it were $100 per pip.
Probability Professor
  • #205,262
  • Mar 11, 2010 4:46pm Mar 11, 2010 4:46pm
Pipland, direct trade, malcolmb thanks!! I closed my long , because of my uncertainity , lost 10 pips by that so far
  • #205,263
  • Mar 11, 2010 4:49pm Mar 11, 2010 4:49pm
Quoting malcolmb14
1.5195 next 24 hours .. take that to the bank

Good to see you Mal, you still trading E/U mostly these days?
  • #205,264
  • Mar 11, 2010 4:50pm Mar 11, 2010 4:50pm
Quoting cinex
Pipland, direct trade, malcolmb thanks!! I closed my long , because of my uncertainity , lost 10 pips by that so far
1.50 area is the area to watch, because price is above it it is likely to be bullish..when price goes down towards 1.50..look for PA to support direction..i see up especially after today dailly..use 4hr to confirm (pin or bullish engulf or something)
  • #205,265
  • Mar 11, 2010 4:51pm Mar 11, 2010 4:51pm
Quoting malcolmb14
1.5195 next 24 hours .. take that to the bank
I would agree with that.
Probability Professor
  • #205,266
  • Mar 11, 2010 5:00pm Mar 11, 2010 5:00pm
Quoting Galation
I would agree with that.
weekly open in tht area , very realistic
  • #205,267
  • Mar 11, 2010 5:01pm Mar 11, 2010 5:01pm
Quoting Galation
Pips are useful, but it's the value per pip x number of pips that count in comparison to the account size.

12 pips per day is good, and great if it were $100 per pip.
Excellent point you brought up there, measuring Profit/loss as a percentage of account instead of pips is the way to go.
  • #205,268
  • Mar 11, 2010 5:05pm Mar 11, 2010 5:05pm
daily closed a complete morning star. looks like 4400 is gonna be far fetched.
will look to buy dips from here on. Good luck
Attached Image (click to enlarge)
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Thank You
  • #205,269
  • Mar 11, 2010 5:07pm Mar 11, 2010 5:07pm
Quoting wormboy
daily closed a complete morning star. looks like 4400 is gonna be far fetched.
will look to buy dips from here on. Good luck
put your kung fu to it wormie lol
  • #205,270
  • Mar 11, 2010 5:08pm Mar 11, 2010 5:08pm
Quoting direct-trade
Could chop around for the next day or so, but daily is looking like a strong bullish reversal to me, Candle closes in 25 mins, so shouldn't see too much difference from the chart.

Holding Long

Well thats my Daily closed 5 minutes ago. I remain Long as this looks like a strong bullish reversal to me, but please, it's what i see...follow your own charts.

I am holding Long G/j, G/u and E/U, tomorrow should be an interesting finish to the week.
Attached Image (click to enlarge)
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  • #205,271
  • Mar 11, 2010 5:08pm Mar 11, 2010 5:08pm
Quoting wormboy
daily closed a complete morning star. looks like 4400 is gonna be far fetched.
will look to buy dips from here on. Good luck
I Agree
  • #205,272
  • Mar 11, 2010 5:09pm Mar 11, 2010 5:09pm
During the American session cable has formed parts [iv] of (3) and [v] of (3) (the latter is forming at the moment of posting). It means our scenario is still actual and we can await soon the retracement wave (4).

As Asian session is starting now, I think we won’t see any volatile moves till the beggining of European session.

After the retracement takes its place, buy orders can be opened with stops below 1.492 (the bottom of wave (3) ).

The charts describing the current scenario are attached to the section "gbpusd" in the signature link.
  • #205,273
  • Mar 11, 2010 5:09pm Mar 11, 2010 5:09pm
Quoting wormboy
daily closed a complete morning star. looks like 4400 is gonna be far fetched.
will look to buy dips from here on. Good luck
Sorry WB, didn't see your post before posting mine...sure looks good though doesn't it Would like to see a break out of the weekly pin tomorrow.
  • #205,274
  • Mar 11, 2010 5:19pm Mar 11, 2010 5:19pm
Quoting wormboy
daily closed a complete morning star. looks like 4400 is gonna be far fetched.
will look to buy dips from here on. Good luck

boom !
the preciseness and memory of the market is so astounding that it completely debunks the "random walk" myth theory, which some conspiracy junkies like myself included lol ! actually strongly believe to be taught as early as in late high school and all throughout college in basic economics classes by academics pushed by large cartel interests in order to be able to have an enormous country of sheep...u cant beat the market, its so random a monkey can make same results with random picks...its such blatant bullshit...look at the candles with their relative volumes, look at the geometric precise patterns happening on front of ur very eyes, obvious swing highs and lows, fibs(discounts as Malcolmb likes to call them)

need i enumerate more
if this seems to be the big boys` alphabet i`m more than willing to learn the language, even absolutely naked tape trading with 1-2 silly ass trendlines can be hugely profitable

p.s. WB missed ur sane analysis what do u think of eu targets
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #205,275
  • Mar 11, 2010 5:20pm Mar 11, 2010 5:20pm
Quoting forexlion
I Agree
And as I have been saying...5400 - 5600 here we come. Will reasses if/when we reach there
  • #205,276
  • Mar 11, 2010 5:21pm Mar 11, 2010 5:21pm
Who removed the recent posts of the bickering between Magix and nAVIN2007? I was rather enjoying that pissing contest between the two. Grow up gentlemen! This is an open public forum and everyone is entitled to their opinion. We are here to share thoughts, ideas and to have fun. I enjoy constructive input that people put into this forum, which many read, but let's not get into a slanging match that just creates negativity. Remember wheat... chaff. Don't waste time over it and put your energy into making a nice earning for yourself. Don't boast, be humble. I will get of my high stool now and go back into my corner.
  • #205,277
  • Mar 11, 2010 5:23pm Mar 11, 2010 5:23pm
Quoting direct-trade
Sorry WB, didn't see your post before posting mine...sure looks good though doesn't it Would like to see a break out of the weekly pin tomorrow.
no problem dt
yes, looks very good I agree. Break of 5175 would pave the way imho. Good luck with your trades!
Thank You
  • #205,278
  • Mar 11, 2010 5:24pm Mar 11, 2010 5:24pm
Quoting bbakker
Who removed the recent posts of the bickering between Magix and nAVIN2007? I was rather enjoying that pissing contest between the two. Grow up gentlemen! This is an open public forum and everyone is entitled to their opinion. We are here to share thoughts, ideas and to have fun. I enjoy constructive input that people put into this forum, which many read, but let's not get into a slanging match that just creates negativity. Remember wheat... chaff. Don't waste time over it and put your energy into making a nice earning for yourself. Don't boast,...
De Bakker bakt weer een lekker krentebrood

LOL
  • #205,279
  • Mar 11, 2010 5:26pm Mar 11, 2010 5:26pm
Quoting at2au
De Bakker bakt weer een lekker krentebrood

LOL
  • #205,280
  • Mar 11, 2010 5:27pm Mar 11, 2010 5:27pm
Quoting direct-trade
Hi Ben Bernanke, welcome to the forum. My name is Gordon Brown and I also have a long history of success. My friend George S told me you where looking to learn on the forum so I thought I might as well too.

I have told BoE to raise interest rates to 5.0% in a surprise move, as we don't like to be one step behind the Fed moves. Remember I sold you a few tonnes of our gold reserves a few years ago for a special knock down price of $300/Oz?, any chance you can lend me a few tonnes back for old times sake? I've got a few bill to pay....

Cheers...
Lol.. Just name the amount you need and I will make sure my Reserve Bank cuts you a check.

Ben
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