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Cable Update (GBPUSD)

  • #219,321
  • Apr 19, 2010 10:44am Apr 19, 2010 10:44am
Closed my longs for now. Flat Cable.
  • #219,322
  • Apr 19, 2010 10:45am Apr 19, 2010 10:45am
Market is about to go nowhere. I think we might get doji on daily closed..
  • #219,323
  • Apr 19, 2010 10:46am Apr 19, 2010 10:46am
Quoting The Magician
Sold at 5281. Bit risky with that gap there just begging to be closed, but I'm hoping for a reasonable retrace first.
so you a bull then until gap closes? How about we go to 5000 and then you can take price up to close gap?

I'm not an expert on gaps although I did here someone posting that 90% of gaps on cable get closed within 24 hrs or something of the sort...

Makes one a bit nervous to be short but WOW! what a bounce from the 38.2 fibo, cant deny that piece of a signal...

Below DP now and looking to S1 now..
@pawpaw1000 on Twitter
  • #219,324
  • Apr 19, 2010 10:47am Apr 19, 2010 10:47am
I just wonder how you fine pivot point.. its monday right..
tell me more.. i'm interesting how you fine every line there..

thanks..
Quoting kill56
look at this cart its -1gmt
just follow the trend...
  • #219,325
  • Apr 19, 2010 10:48am Apr 19, 2010 10:48am
Quoting 4xStar
That was informative....
Expect nothing less! I am LMAO, NOT!
  • #219,326
  • Apr 19, 2010 10:49am Apr 19, 2010 10:49am
will the dow gave up about 50pips oil is fooked up dixy above 81.00

u got the rest lets see if this holds
  • #219,327
  • Apr 19, 2010 10:51am Apr 19, 2010 10:51am
Quoting masterlie
I just wonder how you fine pivot point.. its monday right..
tell me more.. i'm interesting how you fine every line there..

thanks..
Pivot is easy, go to any forex website and they will tell you, try forexpros.com

for the fibo, go to the h1 or h4 and draw a fib retracement from 55211 down to 5184...

The rest I think are ma's and ema's...

you been a member since 2008 and still struggling with this? or you trying to say kill got a killer chart
@pawpaw1000 on Twitter
  • #219,328
  • Apr 19, 2010 10:51am Apr 19, 2010 10:51am
Quoting pawpaw1000
so you a bull then until gap closes? How about we go to 5000 and then you can take price up to close gap?

I'm not an expert on gaps although I did here someone posting that 90% of gaps on cable get closed within 24 hrs or something of the sort...

Makes one a bit nervous to be short but WOW! what a bounce from the 38.2 fibo, cant deny that piece of a signal...

Below DP now and looking to S1 now..
ha! Not particularly. Haven't been paying attention today, I've been busy, so I'm just scalping a bit now. I expect the gap to close at some point soon though.

Jeez, UK economy couldn't look much more grim now these elections turning into a farce. Herd mentality leading to a Lib-Dem craze. Hung parliament/more Labour on the cards unless people grow some sense and vote Tory. Volcano shuts down airspace ... we're having a rough ride. This should be an interesting currency pair over next few months - isn't it always ?

13 pips up on that cheeky short, will be out soon I think.
  • #219,329
  • Apr 19, 2010 10:52am Apr 19, 2010 10:52am
Quoting masterlie
I just wonder how you fine pivot point.. its monday right..
tell me more.. i'm interesting how you fine every line there..

thanks..
its all about fib and sup&res the lines are there if one of these lines is broken then the next target is the one above or below
  • #219,330
  • Apr 19, 2010 10:53am Apr 19, 2010 10:53am
the line in the sand is 15260's
  • #219,331
  • Apr 19, 2010 10:54am Apr 19, 2010 10:54am
Quoting The Magician
Sold at 5281. Bit risky with that gap there just begging to be closed, but I'm hoping for a reasonable retrace first.
Closed my short at 5262 for 19 pips. That'll do for a five minute trade - not greedy. Went in heavy too. Woop.
  • #219,332
  • Apr 19, 2010 10:54am Apr 19, 2010 10:54am
Quoting The Magician
ha! Not particularly. Haven't been paying attention today, I've been busy, so I'm just scalping a bit now. I expect the gap to close at some point soon though.

Jeez, UK economy couldn't look much more grim now these elections turning into a farce. Herd mentality leading to a Lib-Dem craze. Hung parliament/more Labour on the cards unless people grow some sense and vote Tory. Volcano shuts down airspace ... we're having a rough ride. This should be an interesting currency pair over next few months - isn't it always ?

13 pips up on that cheeky...
I'd hold onto it a lil longer... Look at the 4h candle... Crazy... at least to 5184 again...
Attached Image (click to enlarge)
Click to Enlarge Name: WOW.png Size: 70 KB
@pawpaw1000 on Twitter
  • #219,333
  • Apr 19, 2010 10:57am Apr 19, 2010 10:57am
Quoting kill56
the line in the sand is 15260's
will add below there just upto 15200 and then scale out again to my current lot size... you in kill??? or you hitting and running again???
@pawpaw1000 on Twitter
  • #219,334
  • Apr 19, 2010 10:57am Apr 19, 2010 10:57am
Quoting pawpaw1000
I'd hold onto it a lil longer... Look at the 4h candle... Crazy... at least to 5184 again...
Now this is my problemo! I've got to the point where I win more trades than I lose, BUT I take those trades out so damn quick. 20 pips and I'm happy, ha! Need to hold them longer

At what point do you move your SL to BE? See, on most trades I've tried to hold for longer e.g. 100+ I move my SL to BE after about 25-30 pips and get spiked out. How far do you let it go before moving your SL?
  • #219,335
  • Apr 19, 2010 10:57am Apr 19, 2010 10:57am
Good. I have decided to hold my short too. atleast till 5227. not a significant level but that will make my balance a well rounded figure lol

I move SL to BE after 30 pips.
  • #219,336
  • Apr 19, 2010 11:00am Apr 19, 2010 11:00am
room plz download this its realy great

http://www.filecrop.com/28885633/index.html

i cant upload the file its too big
  • #219,337
  • Apr 19, 2010 11:00am Apr 19, 2010 11:00am
hahahaha...

anyway... great drawing bro.. for today..

Quoting pawpaw1000
Pivot is easy, go to any forex website and they will tell you, try forexpros.com

for the fibo, go to the h1 or h4 and draw a fib retracement from 55211 down to 5184...

The rest I think are ma's and ema's...

you been a member since 2008 and still struggling with this? or you trying to say kill got a killer chart
just follow the trend...
  • #219,338
  • Apr 19, 2010 11:01am Apr 19, 2010 11:01am
Quoting The Magician
Now this is my problemo! I've got to the point where I win more trades than I lose, BUT I take those trades out so damn quick. 20 pips and I'm happy, ha! Need to hold them longer

At what point do you move your SL to BE? See, on most trades I've tried to hold for longer e.g. 100+ I move my SL to BE after about 25-30 pips and get spiked out. How far do you let it go before moving your SL?
well, I'm into letting my trades ride, I think it is very important as if you dont, even a 90% win ratio could still lose you money as you cut your wins short but let your losses run to s/l...

I'd say choose the next resistance level and let it run to there, see how PA reacts and make a decision... Like now, 4h looks great for short and we should see 5200 at least IF we break the 60 level here...

Nice greens but gotta let them run. if it breaks 60 I wouldve closed half my position and moved my stop to just above 60... if 5200 is reached, close all???
@pawpaw1000 on Twitter
  • #219,339
  • Apr 19, 2010 11:01am Apr 19, 2010 11:01am
I'm done guys -- shorted the Dow too! Catch u later cable!

Take care all!
  • #219,340
  • Apr 19, 2010 11:02am Apr 19, 2010 11:02am
Quoting masterlie
hahahaha...

anyway... great drawing bro.. for today..
what are you on about? what do you use to decide entry and exits and how PA will act?
@pawpaw1000 on Twitter
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