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Cable Update (GBPUSD)

  • #237,801
  • Jul 13, 2010 10:13pm Jul 13, 2010 10:13pm
Quoting iCarumba
Shall we look for short again? price almost hit major weekly resistance.

I will be, but the number is around 5300, or 5260-5300 depending on which TF you look at.
  • #237,802
  • Jul 13, 2010 10:29pm Jul 13, 2010 10:29pm
Quoting stevefx
I will be, but the number is around 5300, or 5260-5300 depending on which TF you look at.
Only 1 TF that I am looking at, and it's more for a take profit then an all out reversal...picking tops n bottoms is a dangerous game....but here is the number, giver take a few from different brokers that I am looking at...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,803
  • Jul 13, 2010 10:49pm Jul 13, 2010 10:49pm
GBP ready to above 5242? Testing last week highest?
hemm should I wait for GU open price above 5242 then I long? let see
  • #237,804
  • Jul 13, 2010 10:52pm Jul 13, 2010 10:52pm
Quoting Magix
Only 1 TF that I am looking at, and it's more for a take profit then an all out reversal...picking tops n bottoms is a dangerous game....but here is the number, giver take a few from different brokers that I am looking at...
Thanks for that. All trading is dangerous or not dangerous depending on how you respect your MM. If you go in for a precise position, then you can keep short stops. Small risk to large reward with good MM is not very dangerous IMHO. Anyway, I've found trendline trading to be generally more lucrative than trading from the middle.
  • #237,805
  • Jul 13, 2010 10:55pm Jul 13, 2010 10:55pm
Quoting stevefx
Thanks for that. All trading is dangerous or not dangerous depending on how you respect your MM. If you go in for a precise position, then you can keep short stops. Small risk to large reward with good MM is not very dangerous IMHO. Anyway, I've found trendline trading to be generally more lucrative than trading from the middle.
Typically, I have mostly thought of trendline traders as people that used to draw with fecal matter on their bedroom walls through crib slats...and never got over the rush.

But maybe that's just cuz there are a lot of other good ways to trade too...that require less guessing...

Anywaaaaaaaaaaaaaaaays.......

If it works for ya...keep on keeping on!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,806
  • Jul 13, 2010 10:58pm Jul 13, 2010 10:58pm
Quoting Magix
Typically, I have mostly thought of trendline traders as people that used to draw with fecal matter on their bedroom walls through crib slats...and never got over the rush.

But maybe that's just cuz there are a lot of other good ways to trade too...that require less guessing...

Anywaaaaaaaaaaaaaaaays.......

If it works for ya...keep on keeping on!

Right, thanks, thats gross. I'm aware that there are plenty of ways to trade, and for myself, prefer to remain tolerant to all of them. But err, you too, keep on and all that.
  • #237,807
  • Jul 13, 2010 10:59pm Jul 13, 2010 10:59pm
Quoting Magix
Typically, I have mostly thought of trendline traders as people that used to draw with fecal matter on their bedroom walls through crib slats...and never got over the rush.

But maybe that's just cuz there are a lot of other good ways to trade too...that require less guessing...

Anywaaaaaaaaaaaaaaaays.......

If it works for ya...keep on keeping on!

morning
have to run to my work, New daily candle open pofffffff still no signal for my long term view
What u r position ?
  • #237,808
  • Jul 13, 2010 11:05pm Jul 13, 2010 11:05pm
Quoting stevefx
Right, thanks, thats gross. I'm aware that there are plenty of ways to trade, and for myself, prefer to remain tolerant to all of them. But err, you too, keep on and all that.
It's nothing personal....

Just a lot of what I see people posting and playing...

Goes like this...IF I draw a line on my chart, the price probably won't cross it, that is where I will take my position....

Next post typically looks like this....

Oh shit!
Stopped out, but, I have another line I drew on my chart, I will look to take a position here!

Which of course is usually followed by another post that looks a lot like this...

OH SHIT!
STOPPED OUT AGAIN...IF I draw one more line, price is bound to not cross it...

Maybe it's just me, or maybe it's a lot of the people that post that here that just don't get the concept. I am sure there are successful traders that use only trend-lines....

As far as tolerant...I don't care how people decide to take positions in the market...not like they are trading my money. The charts that are so beyond comprehension and out of whack...damn right I'm gunna comment, but as far as the rest...whatever.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,809
  • Jul 13, 2010 11:06pm Jul 13, 2010 11:06pm
Hey Magix, can you generally explain how you trade? are you just looking for trend continuations?

thanks.

Quoting Magix
Typically, I have mostly thought of trendline traders as people that used to draw with fecal matter on their bedroom walls through crib slats...and never got over the rush.

But maybe that's just cuz there are a lot of other good ways to trade too...that require less guessing...

Anywaaaaaaaaaaaaaaaays.......

If it works for ya...keep on keeping on!

  • #237,810
  • Jul 13, 2010 11:09pm Jul 13, 2010 11:09pm
Quoting egkid
morning
have to run to my work, New daily candle open pofffffff still no signal for my long term view
What u r position ?
Holding longs from 1.5099...have hedged a couple of quickies and got my profit locked.

Only 2 left on the table holding, so can afford to hold these until I see reason not to.

Looking for exit approx 1.5290.

From there, well, I guess I gotta wait n see....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,811
  • Jul 13, 2010 11:13pm Jul 13, 2010 11:13pm
Quoting Magix
It's nothing personal....

Just a lot of what I see people posting and playing...

Goes like this...IF I draw a line on my chart, the price probably won't cross it, that is where I will take my position....

Next post typically looks like this....

Oh shit!
Stopped out, but, I have another line I drew on my chart, I will look to take a position here!

Which of course is usually followed by another post that looks a lot like this...

OH SHIT!
STOPPED OUT AGAIN...IF I draw one more line, price is bound to not cross it...

Maybe it's just me,...
Sure, well as far as TL trading goes, I don't base my trades soley on TLs. My posting the Daily was not so much-here's a UTL go short, but, I missed the fact that it wasn't touched I better get out of my short (based on my divergence signals and 100% fibo retrace), and since this whole thing looks topish anyway, get in or start considering after the TL has been touched. For something, not a thousand pips. Thats more the story. Anywho, peace.
  • #237,812
  • Jul 13, 2010 11:18pm Jul 13, 2010 11:18pm
Quoting okie
GBP ready to above 5242? Testing last week highest?
hemm should I wait for GU open price above 5242 then I long? let see
See the Magixs chart above ! D1 / 200 ema ( around 1.5290) seems like a very strong resistance ! Too risky take a long at that level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #237,813
  • Jul 13, 2010 11:29pm Jul 13, 2010 11:29pm
Quoting Uncharted
Hey Magix, can you generally explain how you trade? are you just looking for trend continuations?

thanks.
Sure can my friend, and welcome to the FACTORY!

I got a thread that goes through a little bit about how I play and the way I see market, price action and triggers for trades.

http://www.forexfactory.com/showthread.php?t=208103

Stop by, have a look. I got pictures, and indicators and a few templates for you to have a look at.

As that other fella was saying...there are several ways to trade, you just have to find what makes the most sense to you.

Best of luck!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,814
  • Jul 13, 2010 11:33pm Jul 13, 2010 11:33pm
Quoting manize
See the Magixs chart above ! D1 / 200 ema ( around 1.5290) seems like a very strong resistance ! Too risky take a long at that level !

Thanks a lot for the advice. Will keep on eyes on it...
  • #237,815
  • Jul 13, 2010 11:49pm Jul 13, 2010 11:49pm

Tuesday, July 13, 2010 21:01:43
(UK) According to PricewaterhouseCooper's Economic Outlook report, UK property prices may take 10 years to recover - London Telegraph
- Notes there is a strong possibility that housing prices may continue to fall for the next years.

  • #237,816
  • Jul 13, 2010 11:58pm Jul 13, 2010 11:58pm
Will do, thank you.

Quoting Magix
Sure can my friend, and welcome to the FACTORY!

I got a thread that goes through a little bit about how I play and the way I see market, price action and triggers for trades.

http://www.forexfactory.com/showthread.php?t=208103

Stop by, have a look. I got pictures, and indicators and a few templates for you to have a look at.

As that other fella was saying...there are several ways to trade, you just have to find what makes the most sense to you.

Best of luck!

  • #237,817
  • Jul 14, 2010 12:55am Jul 14, 2010 12:55am

Tuesday, July 13, 2010 22:53:30
(UK) UK's public sector debt may be £4 trillion higher in new study - Telegraph (update)
  • #237,818
  • Jul 14, 2010 12:55am Jul 14, 2010 12:55am

Tuesday, July 13, 2010 22:30:56
(UK) PIMCO's Gross: Optimistic about Britian's bonds after budget cuts and sovereign debt issues in other countires make them less attractive - The Guardian
- This is a drastic change in PIMCO's previous comments about British bonds, warning that government gilts were resting "on a bed of nitroglycerin"
  • #237,819
  • Jul 14, 2010 12:58am Jul 14, 2010 12:58am
Quoting Magix
Sure can my friend, and welcome to the FACTORY!

I got a thread that goes through a little bit about how I play and the way I see market, price action and triggers for trades.

http://www.forexfactory.com/showthread.php?t=208103

Stop by, have a look. I got pictures, and indicators and a few templates for you to have a look at.

As that other fella was saying...there are several ways to trade, you just have to find what makes the most sense to you.

Best of luck!

That's the best welcome post to the Factory I've seen in years.
  • #237,820
  • Jul 14, 2010 1:40am Jul 14, 2010 1:40am
Quoting Magix
Typically, I have mostly thought of trendline traders as people that used to draw with fecal matter on their bedroom walls through crib slats...and never got over the rush.

But maybe that's just cuz there are a lot of other good ways to trade too...that require less guessing...

Anywaaaaaaaaaaaaaaaays.......

If it works for ya...keep on keeping on!

But they look so pretty. I can change the colour and make some dotted and some dashed. I can make some thicker and some thinner. The more pretty the more money I make....right?
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