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Cable Update (GBPUSD)

  • #216,721
  • Apr 13, 2010 7:59am Apr 13, 2010 7:59am
Quoting cloggie
Holding on to a short are we?
Unfortunately

Havent closed it yet though, seems to be struggling to make headway today.

Typical act of impatience and too much clutter on my chart again. Stripping it back to nothing later and starting again.

Now back to watching the pips disappear....
Back to basics, it has to be for me!
  • #216,722
  • Apr 13, 2010 8:01am Apr 13, 2010 8:01am
Quoting terunaku
why does cable seems hasitate to go up ?
resistance.
close above & the rise to 5500 will be quick.
Attached Image (click to enlarge)
Click to Enlarge Name: gum5.gif Size: 24 KB
Thank You
  • #216,723
  • Apr 13, 2010 8:01am Apr 13, 2010 8:01am
Quoting cloggie
once 5431 goes 5460 is next.
any pos sir...
i flat now...
just waiting your call...
super baby newbie hare...
Revesal Trader
  • #216,724
  • Apr 13, 2010 8:02am Apr 13, 2010 8:02am
Quoting BadTradingFi
I wish it would to be honest, but why do you say that?
bcoz i m short at 5420
may be cable goes to 5460 btu it willl come down soon
  • #216,725
  • Apr 13, 2010 8:02am Apr 13, 2010 8:02am
Quoting BadTradingFi
Unfortunately

Havent closed it yet though, seems to be struggling to make headway today.

Typical act of impatience and too much clutter on my chart again. Stripping it back to nothing later and starting again.

No back to watching the pips disappear....

I went through a whole spiel here about the fib retrace on the M5, which touched nicely to the pip on the 38.2 retrace with a target of 546 and you decided to ignore the whole thing... I even posted a chart.

Why do I bother sometimes... just kidding. We'll get to the days high of 546 shortly and that may be your chance of a retrace.
  • #216,726
  • Apr 13, 2010 8:03am Apr 13, 2010 8:03am
Quoting kill56
hey bro how are u
Got pain ! How about your post title status ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #216,727
  • Apr 13, 2010 8:04am Apr 13, 2010 8:04am
Quoting mygoldenpips
any pos sir...
i flat now...
just waiting your call...
super baby newbie hare...
Yeah I took the retrace to 38.2 entered at 5412 target 546
  • #216,728
  • Apr 13, 2010 8:06am Apr 13, 2010 8:06am
Quoting manize
Got pain ! How about your post title status ?
i am enjoying the ride sorry for u pain
  • #216,729
  • Apr 13, 2010 8:06am Apr 13, 2010 8:06am
Quoting cloggie
Yeah I took the retrace to 38.2 entered at 5412 target 546

tq sir...
i pollow...
Revesal Trader
  • #216,730
  • Apr 13, 2010 8:07am Apr 13, 2010 8:07am
Quoting mygoldenpips
tq sir...
i pollow...

May be a bit late to jump on a train once it left the station....
  • #216,731
  • Apr 13, 2010 8:07am Apr 13, 2010 8:07am
Quoting bbmac
Although original hammer didn't trigger there followed 2 x IPB candles and a bullish engulf so in on close of that bullish engulf with targets per box shown...will exit at the tweezer hi if struggling, stop under the hammer

G/L
The tweezer tops sucumber on 15min and target area met...hi another probability/low risk trading opp

G/L
Attached Image
ex member
  • #216,732
  • Apr 13, 2010 8:10am Apr 13, 2010 8:10am
Quoting kill56
i am enjoying the ride sorry for u pain
Close long 1.5450. I hope down trend then !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #216,733
  • Apr 13, 2010 8:10am Apr 13, 2010 8:10am
i duno but it feels like this upmovement is getting close to an end if it goes down i think it will be in fairly straight line. but i could be wrong of course.

Its just there is no resiliency in this up move it struggles every step of the way... but time will tell
  • #216,734
  • Apr 13, 2010 8:11am Apr 13, 2010 8:11am
Quoting cloggie
I went through a whole spiel here about the fib retrace on the M5, which touched nicely to the pip on the 38.2 retrace with a target of 546 and you decided to ignore the whole thing...

Why do I bother sometimes... just kidding. We'll get to the days high of 546 shortly and that may be your chance of a retrace.
It's entirely my fault, too many distractions today and made an impulsive move (AGAIN) which was costly. No more trading while trying to do other things and chart is messy, and without first reading all your posts properly!

I WILL make positive headway, I will read a lot more later too now my printer is working again!

MT4, check, some nice indicators and plug ins, check, ability to use them, nope....
Back to basics, it has to be for me!
  • #216,735
  • Apr 13, 2010 8:12am Apr 13, 2010 8:12am
Quoting 4xStar
I found this rather cool ADR iindicator for MT4 (attached)

Hey sensei-san, hajimemashite
hey,,thks 4xStar...I'll take a look at the indie.....
  • #216,736
  • Apr 13, 2010 8:13am Apr 13, 2010 8:13am
For more conservative traders.

Based upon todays low at 336. 80% of yesterdays 14 day Average True Range (116) gives us 452. Yesterday this was at 368 level which ended up being 17 pips off the low for the day
  • #216,737
  • Apr 13, 2010 8:14am Apr 13, 2010 8:14am
Quoting manize
Close long 1.5450. I hope down trend then !
15460 is the max for today but u will nevr know she is crazy best of luck bro
  • #216,738
  • Apr 13, 2010 8:14am Apr 13, 2010 8:14am
Quoting BadTradingFi
It's entirely my fault, too many distractions today and made an impulsive move (AGAIN) which was costly. No more trading while trying to do other things and chart is messy, and without first reading all your posts properly!

I WILL make positive headway, I will read a lot more later too now my printer is working again!

MT4, check, some nice indicators and plug ins, check, ability to use them, nope....

I am just giving you a hard time BT, however there have been some really good posts from lots of guys here explaining different technical reasons for longs varied from volume based to fibs, to chart patterns to EW and there has not been a single well researched and documented post for a short. You can draw your own conclusions from that, but lots of us put a lot of effort into bringing this thread to a high standard. Don't just follow one poster, me included, try to learn from all the guys here and see what part of their method suits you.

We have had the odd one putting his entire account on a short at 54 with a TP of 531 so you are not the only one caught out on this one.
  • #216,739
  • Apr 13, 2010 8:15am Apr 13, 2010 8:15am
Quoting aneel
bcoz i m short at 5420
may be cable goes to 5460 btu it willl come down soon
lol. you follow my logic, pure force of will.

well, if it's of any help, it never works for me, unless i get on a train journey near the start, i manage to jump on at the end looking the wrong way, doh!
Back to basics, it has to be for me!
  • #216,740
  • Apr 13, 2010 8:23am Apr 13, 2010 8:23am
Quoting BadTradingFi
lol. you follow my logic, pure force of will.

well, if it's of any help, it never works for me, unless i get on a train journey near the start, i manage to jump on at the end looking the wrong way, doh!
I think we have all been there and felt exactly the same way at some stage in our trading lives. I have been trading for about a year now and it is only now that I am feeling like I am recognising the signals for getting in and out of trades and understanding when to take a profit.

Today as an example I banged on all morning about holding my long until 1.5422. I took profit at 1.5395 through lack of patience and where did it end up............. above 1.5422.

I don't believe anyone will ever be able to pick out all the highs and lows, so don't beat yourself up about it.
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