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Cable Update (GBPUSD)

  • #233,401
  • Jun 23, 2010 10:27am Jun 23, 2010 10:27am
Quoting USD-Bear
Long @ 1.49 let's see if it is a scalp or something else.....
My guess is that it'll bounce on the 1.4860 before breaking 1.4950.
  • #233,402
  • Jun 23, 2010 10:51am Jun 23, 2010 10:51am
Quoting USD-Bear
Long @ 1.49 let's see if it is a scalp or something else.....
SL @ BE
Don't be a hero. Don't have an ego. Always question yourself
  • #233,403
  • Jun 23, 2010 10:52am Jun 23, 2010 10:52am
Quoting USD-Bear
SL @ BE
GOOD CALL!
  • #233,404
  • Jun 23, 2010 10:58am Jun 23, 2010 10:58am
going to touch 1.4950 and then big drop
  • #233,405
  • Jun 23, 2010 11:07am Jun 23, 2010 11:07am
Quoting peyman
going to touch 1.4950 and then big drop
not sure, read ams message, I tend to agree he just worded it better then I can.... If and only if we break 1.50 descisively daily/weekly/monthly bear trend could turn as a whole, not saying it will but worth to take in consideration....
Don't be a hero. Don't have an ego. Always question yourself
  • #233,406
  • Jun 23, 2010 11:16am Jun 23, 2010 11:16am
no change
  • #233,407
  • Jun 23, 2010 11:17am Jun 23, 2010 11:17am
Quoting cloggie
no change
what is next then?

Ub
  • #233,408
  • Jun 23, 2010 11:17am Jun 23, 2010 11:17am
Hoenig still the only dissenter. No change there either, same wording, inflation likely to be subdued, economic recovery is progressing, pace likely to be moderate for some time, gradual return to higher levels of commodities use, housing starts to remain at subdued levels.
  • #233,409
  • Jun 23, 2010 11:19am Jun 23, 2010 11:19am
Quoting forexlion
this thread is more about insulting others than actual trading, many newbies get insulted in here for nothing
So why dont you just leave? But no, dont you need a place to con other people into believe your fake trades?

I haven't see any newbie getting insulted in here, although I have seen you getting insulted many times by many 'seniors' and 'juniors' alike.
  • #233,410
  • Jun 23, 2010 11:27am Jun 23, 2010 11:27am
Quoting mdiz2
I have been reading this thread fo about 2 weeks now and I appreciate that you don't spend your time talking shit about everyone and you do show consistant tradeing profits. I have been learning forex fo 8 months now and hope to get to the point of trading full time. Would you mind sharing your method or the indicators you use. I have been trying many things on a micro account trying to find what works best for me. I have looked at many of the systems from the forex factory. Most don't apeal to me as something I could really get my head around and...
Well i use a few strategies. One of them is based on 1hr and 5min time frame which is the one i will post here.

Chart setup indicators:7ema, 13ema, MACD (12,26,9). Always look for you most recent swing to draw your fibonacci retracement.

For short trades: 7ema needs to be below 13ema on the 1 hour time frame, MACD should be crossed to the downside, wait for the price to retrace to at least 38% or close to it on 1 hour chart. Now you go to your 5mins chart for your entry. Wait until the Macd histogram forms a new blue bar below the zero line and enter short on the close of that bar to make sure the histogram stays below the zero line.

Do the opposite for long trades. Now this is just one of the strategies i use and only the best setups at the right time. Here is a trade i took from this strategy that i happened to post here last week.
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  • #233,411
  • Jun 23, 2010 11:32am Jun 23, 2010 11:32am
Quoting wireash
forex trader4 like i said k.i.s.s. thanks for your comment i can learn more from your one post than from last 20 pages off this blog
by the way like your trades
Thank you
  • #233,412
  • Jun 23, 2010 11:33am Jun 23, 2010 11:33am
Long GBPUSD @ 1.49475 (2 positions)
エンジョイライフ！
  • #233,413
  • Edited 11:48am Jun 23, 2010 11:34am | Edited 11:48am
Quoting cloggie
We have found ourselves in a bit of no-mans land, key here is 4909 for a move to 4965 and 4886 for a move to 4814. We had a bit of a surge/bounce on the LC, give it 50 mins for the NY boys to clear it up a bit better for us. I still would not long this bounce though until we have a clearer break of the range. Typical summer afternoon trading, things tend to slow down a bit this time of the day.

The range breakout played out beautifully, a break followed by a test and a stop at 4965 all pretty much to the pip. Took my profit of the table, let it settle here before any further move.
  • #233,414
  • Jun 23, 2010 11:50am Jun 23, 2010 11:50am
Quoting cloggie
The range breakout played out beautifully, pretty much to the pip. Took my profit of the table, let it settle here before any further move.
What's funny is i actually spotted that move and i entered, but then really considered the time we are trading in, so i decided to exit out of it to be on the safe side. Yea i turned out to be right again and the pair did go up, which i missed on the move, but as i always say it's better to be out in which my reason is the time of day and volume, than take a loss.
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  • #233,415
  • Jun 23, 2010 11:51am Jun 23, 2010 11:51am
Quoting Forextrader4
What's funny is i actually spotted that move and i entered, but then really considered the time we are trading in, so i decided to exit out of it to be on the safe side. Yea i turned out to be right again and the pair did go up, which i missed on the move, but as i always say it's better to be out in which my reason is the time of day and volume, than take a loss.

There are plenty of times where a currency moves without me if I can't be convinced or find an entry that suits my trading style, like you say live to trade another day. There is no way you can or even should trade every pip.
  • #233,416
  • Jun 23, 2010 11:53am Jun 23, 2010 11:53am
Quoting cloggie
There are plenty of times where a currency moves without me if I can't be convinced or find an entry that suits my trading style, like you say live to trade another day. There is no way you can or even should trade every pip.
Amen to that.
  • #233,417
  • Jun 23, 2010 11:54am Jun 23, 2010 11:54am
nice 4hr setting
Attached Image
GELORE
  • #233,418
  • Jun 23, 2010 11:55am Jun 23, 2010 11:55am
Quoting musani
nice 4hr setting

If you draw it from that swing low on the 5th, you can see there is a bit more room left. Also draw an inside trendline of that low of the 25th. Now you have the whole picture. Based on those TL's we are looking at 50460
  • #233,419
  • Jun 23, 2010 11:57am Jun 23, 2010 11:57am
patience is a virtue..1.50 here we come!!!
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  • #233,420
  • Jun 23, 2010 12:02pm Jun 23, 2010 12:02pm
Quoting Forextrader4
Well i use a few strategies. One of them is based on 1hr and 5min time frame which is the one i will post here.

Chart setup indicators:7ema, 13ema, MACD (12,26,9). Always look for you most recent swing to draw your fibonacci retracement.

For short trades: 7ema needs to be below 13ema on the 1 hour time frame, MACD should be crossed to the downside, wait for the price to retrace to at least 38% or close to it on 1 hour chart. Now you go to your 5mins chart for your entry. Wait until the Macd histogram forms a new blue bar below the zero line...
Thank you for sharing your successful strategy to the rest of us on this thread and also showing us screenshots of your actual trades

This is quite refreshing as I haven't come across a trader on here who has posted screenshots of his actual completed trades on a regular basis like you have done in the last two weeks.

For that homie, you can have your 1st vouch, as it seems you are an experienced trader of three years who has his trading plan, sticks to it and makes regular profits.

Keep up your excellent work as you are a credit to this thread.

Maybe you should start your own thread to explain in further detail your other strategies that you use, so that others who are interested can follow you. This thread is just too noisy and your posts can easily get drowned out!
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