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Cable Update (GBPUSD)

  • #218,441
  • Apr 16, 2010 3:01am Apr 16, 2010 3:01am
No problem, (just a site I grabbed off the internet - not sure about thier other analysis - but the pattern is clear- for reference purposes)

For further completion I will look to take out 5525
it takes time though & patience is important for those that trade lower tf yet look @ higher for reference.


Quoting pawpaw1000
why short cloggs? You reckon we will at least go to pivot point before resuming downward???
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #218,442
  • Apr 16, 2010 3:06am Apr 16, 2010 3:06am
Out at 424 for 21 pips. Should have stayed in a little longer I guess, but 21 pips is my day's money, so will watch and wait for another entry now.
  • #218,443
  • Apr 16, 2010 3:07am Apr 16, 2010 3:07am
Quoting XTrade
No problem, (just a site I grabbed off the internet - not sure about thier other analysis - but the pattern is clear- for reference purposes)

For further completion I will look to take out 5525
it takes time though & patience is important for those that trade lower tf yet look @ higher for reference.
if we break pivot then we looking at 55000...

Just a question, does the gartley in your experience give a reliable signal and also where do you reckon it projects price, or doesnt it really.... Perhaps to atleast higher than A?
@pawpaw1000 on Twitter
  • #218,444
  • Apr 16, 2010 3:09am Apr 16, 2010 3:09am
What a day...

I am such a Greedy person...
Losses -30pips to GREED......

So my short profits from +40pips become +10pips because of StopLoss..
And gotten a 15pips in long just now....

Hmmm.. Need to find ways to control my Greed.....
Smile Chankl78
  • #218,445
  • Apr 16, 2010 3:09am Apr 16, 2010 3:09am
any suggestions for TP for my long from 5409
  • #218,446
  • Apr 16, 2010 3:11am Apr 16, 2010 3:11am
Quoting xPrav
any suggestions for TP for my long from 5409
5460 is still possible -- but it's your money!
  • #218,447
  • Apr 16, 2010 3:11am Apr 16, 2010 3:11am
Quoting xPrav
any suggestions for TP for my long from 5409
I'm watching pp at 5456 and then 5500...
@pawpaw1000 on Twitter
  • #218,448
  • Apr 16, 2010 3:12am Apr 16, 2010 3:12am
Quoting free4440273
5460 is still possible -- but it's your money!
why only 5460? why not to top of channel? (5490?)
@pawpaw1000 on Twitter
  • #218,449
  • Apr 16, 2010 3:13am Apr 16, 2010 3:13am
Quoting pawpaw1000
I'm watching pp at 5456 and then 5500...
imo @ 5545

is there any better option then trailing stop?
  • #218,450
  • Apr 16, 2010 3:14am Apr 16, 2010 3:14am
Quoting xPrav
imo @ 5545

is there any better option then trailing stop?
close half at tp and then move s/l to be...
@pawpaw1000 on Twitter
  • #218,451
  • Apr 16, 2010 3:14am Apr 16, 2010 3:14am
Higher than 1.5455 and next tp is 1.5500
Bounces off 1.5440-1.5450 and target is 1.5400 at least

Will see but my biais is on the downside right now
COT: The precious data ignored
  • #218,452
  • Apr 16, 2010 3:17am Apr 16, 2010 3:17am
Quoting kuroro001
Higher than 1.5455 and next tp is 1.5500
Bounces off 1.5440-1.5450 and target is 1.5400 at least

Will see but my biais is on the downside right now
any reason for being south biased?

was looking at the charts and think 5550 is the turning point...

EDIT: I did a very noob thing and promise not to do again but I entered a HUGE long at 5405 and rode half, tp and then rode other half to where we are now. Was just to get my account to a decent level again. I KNOW I SHOULDNT but using this account to learn and dont want to have to restock it. was at 375, starting with 400 after 5 weeks and am now at 415 again...
@pawpaw1000 on Twitter
  • #218,453
  • Apr 16, 2010 3:17am Apr 16, 2010 3:17am
Quoting wormboy
the technical analysis fallacy see how your thought process is interfering with your decision making?
It's not what you believe that counts brother. It's what's printed on the charts.
So true!!!
  • #218,454
  • Apr 16, 2010 3:17am Apr 16, 2010 3:17am
It is most reliable when it happens around support and resistance areas as it has here.
Yes the pattern would suggest price takes out the high point @ A - at least. This would be above 5525. Always use discretion and caution though. Fridays can be unpredictable.

So far it has yielded 45 - 50 pips on lowest entry.


Quoting pawpaw1000
if we break pivot then we looking at 55000...

Just a question, does the gartley in your experience give a reliable signal and also where do you reckon it projects price, or doesnt it really.... Perhaps to atleast higher than A?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #218,455
  • Apr 16, 2010 3:18am Apr 16, 2010 3:18am
Short 1.5445
SL 1.5515
Target open
Don't be a hero. Don't have an ego. Always question yourself
  • #218,456
  • Apr 16, 2010 3:19am Apr 16, 2010 3:19am
....this is what I am see-ing on 1hr atm, break and clear of this previous swing hi zone and it's only fibs till the descending trend line and above ??

G/L
Attached Image (click to enlarge)
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ex member
  • #218,457
  • Apr 16, 2010 3:20am Apr 16, 2010 3:20am
Quoting chankl78
What a day...

I am such a Greedy person...
Losses -30pips to GREED......

So my short profits from +40pips become +10pips because of StopLoss..
And gotten a 15pips in long just now....

Hmmm.. Need to find ways to control my Greed.....
Greed is a killer, it's bent my account over a barrel and made it squeal like a pig.

Yesterday I had a nice profit on a short around 10am but held out for more, ended up closing the short for a loss.

Thankfully I fixed things by entering a long at the right time and ended up covering the short losses and making more. This long got up to 15495 and started wavering, I spent 10 minutes debating what to do, go for more or leave it. I closed it just after 4pm, took my profit and watched it go a bit higher, then drop again.

If you are in for the long haul, dont worry. If you are going day by day, take it when you think it's running out of steam, dont get greedy.

It's better to have 50 pips and regret not getting the extra 5 than getting -30 pips (or worse) and kicking yourself for not getting back out with something.

EDIT: Small adjustment to that, you can get lucky on occasions, it's happened to me and saved my @ss, but it just makes you sweat! Patience is a VERY VERY important tool here, however sheer force of will for things to come good rarely makes a difference.
Back to basics, it has to be for me!
  • #218,458
  • Apr 16, 2010 3:25am Apr 16, 2010 3:25am
salam hi alll

nice and green morning all in all great

greeny to all foool pips to the foools
  • #218,459
  • Apr 16, 2010 3:26am Apr 16, 2010 3:26am
Quoting free4440273
long 5388
exit 5450
  • #218,460
  • Apr 16, 2010 3:26am Apr 16, 2010 3:26am
Quoting pawpaw1000
any reason for being south biased?

was looking at the charts and think 5550 is the turning point...

EDIT: I did a very noob thing and promise not to do again but I entered a HUGE long at 5405 and rode half, tp and then rode other half to where we are now. Was just to get my account to a decent level again. I KNOW I SHOULDNT but using this account to learn and dont want to have to restock it. was at 375, starting with 400 after 5 weeks and am now at 415 again...
Yes...based on price action and swings
COT: The precious data ignored
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