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Cable Update (GBPUSD)

  • #225,881
  • May 12, 2010 3:24am May 12, 2010 3:24am
Quoting javapips
Sell.
Ok, but why just now? A few minutes before news?
  • #225,882
  • May 12, 2010 3:26am May 12, 2010 3:26am
Quoting cloggie
Took my 90 of the London open and did not want to be greedy, she is taking another stab at that 5003 as we speak.

Time for some more coffee
What was your entry point if you dont mind me asking.

I got in around the same time only to see it drop (i.e. I AS USUAL got my entry point wrong), but stuck with it as everything was pointing up. I've moved SL to +70 now with a trailing stop to see if it goes higher.

I seem to get the direction right, but my entry points are always a little off so often see it reverse before continuing almost exactly when I jump in. Maybe I should do 1/2 lots and add to it later?!
Back to basics, it has to be for me!
  • #225,883
  • May 12, 2010 3:28am May 12, 2010 3:28am
Quoting BadTradingFi
What was your entry point if you dont mind me asking.

I got in around the same time only to see it drop (i.e. I AS USUAL got my entry point wrong), but stuck with it as everything was pointing up. I've moved SL to +70 now with a trailing stop to see if it goes higher.

I seem to get the direction right, but my entry points are always a little off so often see it reverse before continuing almost exactly when I jump in. Maybe I should do 1/2 lots and add to it later?!
I got in at the London open once PA was clearly bullish and got out at the resistance of H4, scaling in and out is a trading style I use often. Don't be too upset with your entry, you are up 70 pips. Just watch the unemployment figures due out in 3 minutes. I missed the last 24 pips, but don't really care, got my fill on a good run with solid entry and exit.
  • #225,884
  • May 12, 2010 3:28am May 12, 2010 3:28am
Quoting digger1
excellent kill, as long as it works for you man and gets you the greenie lol, this chart shows a nice big picture of price action so far , price spent most of its time since rollover below the open , we had the nice push up to test the open then the drop down usually pretty easy to follow when the mkt is slow , if we are trading above the open you usually get the retest and a nice little push up . Its not talked about much but the open price really is the line in the sand most days worth paying attention too at the very least you catch a few nice...
What time should be used as the open time in CEST Central European Summer Time? Right now I'm using where the last candle closes at 11 pm.
  • #225,885
  • May 12, 2010 3:28am May 12, 2010 3:28am
Quoting forexlion
never stand infront of a charging bull

True got stopped @ 5010, was worth a shot tho.

Now let`s see when we can try to short it again.
  • #225,886
  • May 12, 2010 3:32am May 12, 2010 3:32am
Quoting alexandru987
True got stopped @ 5010, was worth a shot tho.

Now let`s see when we can try to short it again.

Any trade with only a 15 pip SL on Cable is not going to have a great chance right from the start.
  • #225,887
  • May 12, 2010 3:33am May 12, 2010 3:33am
Quoting cloggie
I got in at the London open once PA was clearly bullish and got out at the resistance of H4, scaling in and out is a trading style I use often. Don't be too upset with your entry, you are up 70 pips. Just watch the unemployment figures due out in 3 minutes. I missed the last 24 pips, but don't really care, got my fill on a good run with solid entry and exit.
Thanks. Yes, I just moved SL and figured I'd had a good run anyway, if I got more then so be it, but happy with it as is.

Seems to be struggling at the moment with 15027 (161.8 fib I have of todays midnight -> low), next target possibly 15052 if figures are good.

Ah, SL just kicked, never mind
Back to basics, it has to be for me!
  • #225,888
  • May 12, 2010 3:33am May 12, 2010 3:33am
no break no shack
Attached Image (click to enlarge)
Click to Enlarge Name: 15m cable n.gif Size: 18 KB
  • #225,889
  • May 12, 2010 3:36am May 12, 2010 3:36am
Quoting cloggie
Any trade with only a 15 pip SL on Cable is not going to have a great chance right from the start.
How big do you normally keep your SL? I used to put a 20 pip SL on and found I was often getting spiked out. Now I normally put a SL between 35-40 and getting more success.
  • #225,890
  • May 12, 2010 3:36am May 12, 2010 3:36am
Quoting cloggie
Any trade with only a 15 pip SL on Cable is not going to have a great chance right from the start.
i trade with a 5 pip SL and always get it

entry is the key
  • #225,891
  • May 12, 2010 3:37am May 12, 2010 3:37am
Buy

1.5002.. SL 1.4900.. TP 1.5120
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #225,892
  • May 12, 2010 3:38am May 12, 2010 3:38am
Quoting forexlion
i trade with a 5 pip SL and always get it

entry is the key

Ha! Entry is indeed the key, however, when you don't have the Third Eye a wide stop loss helps
  • #225,893
  • May 12, 2010 3:39am May 12, 2010 3:39am
Quoting forexlion
I will not post this again anywhere

I am sharing this indicator for the first time, so pass it on to your friends and kill56

hi, Lion, can not open this indicator, not MQ4 or EX4 file. thanks. you are always doing good job. just love your indicators
  • #225,894
  • May 12, 2010 3:40am May 12, 2010 3:40am
Quoting forexlion
i trade with a 5 pip SL and always get it

entry is the key

2.5 sl is better
  • #225,895
  • May 12, 2010 3:40am May 12, 2010 3:40am
Quoting The Magician
Ha! Entry is indeed the key, however, when you don't have the Third Leg a wide stop loss helps
  • #225,896
  • May 12, 2010 3:41am May 12, 2010 3:41am
I've got my eye on 5250, expect to see it move up to daily sloping resistance. Just took another long out at 5002. Wish I hadn't closed my long earlier but hey ho, that's the game!
  • #225,897
  • May 12, 2010 3:41am May 12, 2010 3:41am
Quoting Bull_Bear
Buy

1.5002.. SL 1.4900.. TP 1.5120
Heres the chart
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 115 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #225,898
  • May 12, 2010 3:41am May 12, 2010 3:41am
Quoting kill56
2.5 sl is better

I rarely use a SL or TP when daytrading.
  • #225,899
  • May 12, 2010 3:41am May 12, 2010 3:41am
Quoting michaelwen
hi, Lion, can not open this indicator, not MQ4 or EX4 file. thanks. you are always doing good job. just love your indicators

if u add it right u will find it in custom indi
  • #225,900
  • May 12, 2010 3:42am May 12, 2010 3:42am
Quoting kill56
2.5 sl is better
Quoting michaelwen
hi, Lion, can not open this indicator, not MQ4 or EX4 file. thanks. you are always doing good job. just love your indicators
Lord Kill

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