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Cable Update (GBPUSD)

  • #223,141
  • Apr 30, 2010 10:58am Apr 30, 2010 10:58am
Quoting wormboy
hehe saja cuba tolong

slow day, just 2 trades bro. you?
it's a marvelous day.. got more than 4 pairs traded and closed everything already.. ~300 pips collected, done for the day..
  • #223,142
  • Apr 30, 2010 10:59am Apr 30, 2010 10:59am
Quoting pawpaw1000
thanks wormy, was thinking it would work best with the trend...

You still gonna trade more today? seems like volume is dropping badly..
you're welcome mate.

nope, no trades. I am just wasting time right now .. browsing the threads .. watching porn ...
Thank You
  • #223,143
  • Apr 30, 2010 11:01am Apr 30, 2010 11:01am
Quoting wormboy
selling for 10-20 pips over an m5 pattern when the higher tf just produced a bullish reversal is extremely high risk. You might get away with it, most of the time you won't. Since the htf just closed a bullish reversal, if you have to use the m5 trigger, look to buy dip instead of selling into a buying pressure.
Absolutely spot on, I would rather wait to buy on dips and follow the trend rather than giving away my moolahs cheaply.
  • #223,144
  • Apr 30, 2010 11:02am Apr 30, 2010 11:02am
Quoting wormboy
I am giving him a chance .. and my time of day. It's because when you're new, it's easy to start making stupid trades that ends up becoming habitual. And believe me, it's not easy to shake those bad habits off.
He only needs to tell me to shut it & I will leave him alone
Your advice is always appreciated, you know that!
  • #223,145
  • Apr 30, 2010 11:03am Apr 30, 2010 11:03am
My view if you can and have short in play, i have 3 shorts targeting 1.5131 and then a confirmation to follow in 4hrs would take me down. If 1.5160 doesn't hold in few days to come, then daily confirmation would see us within few weeks get to 1.4750. This are all speculations, so I expect care in trading and taking decisions, unable to attach charts, my internet is slow. Would find appropriate time to attach and support this views..... chao
  • #223,146
  • Apr 30, 2010 11:06am Apr 30, 2010 11:06am
PA seems dead now. I have collected my winnings and I am going home. Have a great weekend and hopefully I will get that spreadsheet done during the weekend. Have a good one!
  • #223,147
  • Apr 30, 2010 11:07am Apr 30, 2010 11:07am
Quoting wormboy
you're welcome mate.

nope, no trades. I am just wasting time right now .. browsing the threads .. watching porn ...
Wormie, sorry to bother you. What do you think of GJ? weekly pattern really bothers me.. currently I'm bullish for that pair..

Tanya pdgn je bro, harap blh berikan skit info.. TQ.
  • #223,148
  • Apr 30, 2010 11:09am Apr 30, 2010 11:09am
Quoting Najee
Dah sampai tahap ketegag dah ni...
ketegaq bulu
Thank You
  • #223,149
  • Edited 1:00pm Apr 30, 2010 11:14am | Edited 1:00pm
My entry point is 1.5310 and 1.5265, unable to attache pic to support this. Sorry for the mistake, I have a train 100-150pips to catch b4 close 2 day
  • #223,150
  • Apr 30, 2010 11:16am Apr 30, 2010 11:16am
Quoting fendi
My view if you can and have short in play, i have 3 shorts targeting 1.5131 and then a confirmation to follow in 4hrs would take me down. If 1.5160 doesn't hold in few days to come, then daily confirmation would see us within few weeks get to 1.4750. This are all speculations, so I expect care in trading and taking decisions, unable to attach charts, my internet is slow. Would find appropriate time to attach and support this views..... chao
Things would have to turn decidely bearish for sub 1.5 to occur ... remember that the UK is in election mode, and optimism reigns supreme for a change. There aren't likely any rating agency hits to occur before May 6, and Brown is doing his best to keep news positive, with the strings he controls. From a VSA perspective, dips/lows are being bought, so I'd bet that until May 6, we don't see any major lows. And if Brown doesn't win, I'd expect sterling to rally, esp. so if there is no hung parliament. There should be post-election optimism too, so mid-term expectations for sterling negativity are low. Sometimes a mixture of TA and fundamentals can help with the outlook. All IMHO of course.
  • #223,151
  • Apr 30, 2010 11:20am Apr 30, 2010 11:20am
The idea whit scalping is that you only trade in the way that you have a lower low or higher high on 5 min. Take entry at S/R or around 50% of last move.

When you see that price can't extend anymore for an ABCD, then you expect a gartley reversal (wait last high/ low broke to change direction, and beware of any next hig/low that can reverse price again since major pressure still and it could only be a correction).

This way you always are in the way of the momentum.

Good trade all!
"Fly Kite Fly!"
  • #223,152
  • Apr 30, 2010 11:21am Apr 30, 2010 11:21am
Quoting A-speculator
Wormie, sorry to bother you. What do you think of GJ? weekly pattern really bothers me.. currently I'm bullish for that pair..

Tanya pdgn je bro, harap blh berikan skit info.. TQ.

No prob bro

Still bullish imho. I don't pay much attention to the W1 tbh.
I've been buying since yesterday & If it's not for the weekend, aku dah bedal long dah. Maybe next week kot.
Attached Image (click to enlarge)
Click to Enlarge Name: gy1.gif Size: 29 KB
Thank You
  • #223,153
  • Apr 30, 2010 11:23am Apr 30, 2010 11:23am
Hey wormie,

I still cant believe there are some out there who are trading off the 5 min and calling it boss. Its why I left. But its nice to know there is someone out there who is sane.


Quoting wormboy
h1 piercing pattern, m5 engulfer carries no weight over htf.
some people never learn
  • #223,154
  • Apr 30, 2010 11:23am Apr 30, 2010 11:23am
okay tido. hari ni anniversary. malam aneka ragam

gnite & have a great weekend!
Thank You
  • #223,155
  • Apr 30, 2010 11:27am Apr 30, 2010 11:27am
One last hurrah and I'm out of here. Long at 5386. 15-20pips good enuf.
  • #223,156
  • Apr 30, 2010 11:32am Apr 30, 2010 11:32am
Quoting wormboy
No prob bro

Still bullish imho. I don't pay much attention to the W1 tbh.
I've been buying since yesterday & If it's not for the weekend, aku dah bedal long dah. Maybe next week kot.
ermm.. apa pun aku rasa we are in a range la bro.. tgk 4h aku tu..

Apa pun aku dah close pos aku.. limit kat price yg aku tanda tu..

Have a great weekend.
Attached Image (click to enlarge)
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  • #223,157
  • Apr 30, 2010 11:33am Apr 30, 2010 11:33am
Quoting Nene
Hey wormie,

I still cant believe there are some out there who are trading off the 5 min and calling it boss. Its why I left. But its nice to know there is someone out there who is sane.
It depends on what type of trader you are and what type of trade you are making. If you are scalping you are not going to look at the higher timeframes now are you, although keeping the bigger picture in mind always helps with your decision making. The piercing 1h candlestick formation was just about forming when he went in for a short scalp.

He never called it boss either. He is a newbie in Forex and it is the likes of Wormie who are actually offering to help people that makes this thread! I can't see you offering any words of wisdom.
  • #223,158
  • Apr 30, 2010 11:34am Apr 30, 2010 11:34am
Quoting Nene
Hey wormie,

I still cant believe there are some out there who are trading off the 5 min and calling it boss. Its why I left. But its nice to know there is someone out there who is sane.
there's still a few left here who are still sane..

Welcome back bro..
  • #223,159
  • Apr 30, 2010 12:00pm Apr 30, 2010 12:00pm
Quoting wormboy
h1 piercing pattern, m5 engulfer carries no weight over htf.
some people never learn
For further information on bullish piercing candlestick patterns, please visit the following site -

http://stockcharts.com/school/doku.p...estick_bullish_

http://stockcharts.com/school/doku.p...estick_pattern_

Have a nice weekend!
  • #223,160
  • Apr 30, 2010 12:16pm Apr 30, 2010 12:16pm
Quoting Nene
Hey wormie,

I still cant believe there are some out there who are trading off the 5 min and calling it boss. Its why I left. But its nice to know there is someone out there who is sane.
Nobody is doing that... I was commenting on a possible scalping strategy using engulfing 5m bars... 10 - 15 pips each time...
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