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Cable Update (GBPUSD)

  • #238,881
  • Jul 16, 2010 10:16am Jul 16, 2010 10:16am
Quoting USD-Bear
Don't think that's a valid H&S, I think in forex very few are.....
that's probably because you're buying.

It's valid mate. But good luck to you!
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Thank You
  • #238,882
  • Jul 16, 2010 10:17am Jul 16, 2010 10:17am
Quoting USD-Bear
No told you I missed the daily break-out so your assumption is not correct.
Piercing I see often in the heat of the move appears often all M5 bars there after where respected.
But current PA doesn't look good for me, SL almost reached, lets see....

Your daily break has nothing to do with the lTL you drew on the chart, it broke for the first time and you decided to countertrend your TL, what is the point then of putting up a nice wedge only to ignore it when she gets broken?

I expected a stop here about an hour ago so you may have a chance yet.
  • #238,883
  • Jul 16, 2010 10:20am Jul 16, 2010 10:20am
Quoting wormboy
kill my brother, pass the pipe

here u go bro see u @f 23.6
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  • #238,884
  • Jul 16, 2010 10:22am Jul 16, 2010 10:22am
Quoting cloggie
It just seems odd that you were I assume long on all the rejections of the TL and the one time it gets pierced you counter the move.

Below is the same M30 I used all day yesterday and posted several times for my longs and still use today for the shorts.

man thats a dam H&S on u m30 and it did break the darn leg
  • #238,885
  • Jul 16, 2010 10:23am Jul 16, 2010 10:23am
Quoting cloggie
Your daily break has nothing to do with the lTL you drew on the chart, it broke for the first time and you decided to countertrend your TL, what is the point then of putting up a nice wedge only to ignore it when she gets broken?

I expected a stop here about an hour ago so you may have a chance yet.
hehe, Come cloggs, let's keep it cool ;-)

Hows everyone doing? good to see the thread is still flourishing... I've just had 4 weeks holiday and got 1 left but will trade the mornings next week.

Good to be back and hope I haven't forgotten all I've learnt! I'm gonna keep going until I make a success of it...
@pawpaw1000 on Twitter
  • #238,886
  • Jul 16, 2010 10:24am Jul 16, 2010 10:24am
Quoting Honored
Yes i am countertrending here, actually i will at around 1.5444 just coz i got the ballz to do it and also a big account lol well here are the reasons.

1. R3 is right there at around 1.5444
2. MML indi has the +1/8 bar
3. This area is a congestion zone
4. By the time it gets there it should be NY close or atleast close to it
5. H1 trendline hits right there at 1.5440
6. EU is not going up/ USDX is not going down at this time, its just GU moving up, sounds fishy. it wants to do a 200+ pip range just like EU did today
and we are going into asian...

Glad to see you back cloggie. I am still holding my short from 1.5444 after the heavy rejection on m5 at 1.5470. Already 130 pips up. So i picked up the top pretty good P.S. Not every trader is the same.
  • #238,887
  • Jul 16, 2010 10:24am Jul 16, 2010 10:24am
hello guys
i really dont care about some people said yesterday, about noob idiots, and whatever...
i just want to show my point, and you should understand, because you are the best.
http://clip2net.com/page/m0/6839168

as I said, we need a retraced of AT LEAST, 38,2%

so, we sell highs, with this target... if make new high, just sell again... of course isnt so simple... we have to see another things to do that and very important, manage our margin


we are going to hit 38,2% and im having a good profit

of course, i could went long yesterday and make MORE AND MORE MONEY, but im new and im learning... and im happy doing my trades without need anyone saying what i have to do...

I appreciate all the help i received, mainly for kills help...

I'm just posting this, because we have to respect eachother, as people, as trader and their opinions... I really dont care about u said yesterday, but this shits take out your credibility... as a sucefull trader, you should be a person that respects other people.

good weekend for all
green pips
  • #238,888
  • Jul 16, 2010 10:25am Jul 16, 2010 10:25am
Quoting kill56
man thats a dam H&S on u m30 and it did break the darn leg
Today had some really good and classic textbook tales for the bears.

HnS
H4 bearish engulfing
Rejection of H4 SR (my ass level)
divergence on several lagging momentum indicators
break of the lTL on the hourly
Bearish engulfing on M30
Fast MA on H1
failure of the DP

And I can't see anything supporting the bulls yet.
  • #238,889
  • Jul 16, 2010 10:27am Jul 16, 2010 10:27am
the link is with error
here the chart
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  • #238,890
  • Jul 16, 2010 10:29am Jul 16, 2010 10:29am
Quoting wormboy
that's probably because you're buying.

It's valid mate. But good luck to you!

no bro its not valid this one is valid if u dont like answer to the middle
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  • #238,891
  • Jul 16, 2010 10:30am Jul 16, 2010 10:30am
Quoting pawpaw1000
hehe, Come cloggs, let's keep it cool ;-)

Hows everyone doing? good to see the thread is still flourishing... I've just had 4 weeks holiday and got 1 left but will trade the mornings next week.

Good to be back and hope I haven't forgotten all I've learnt! I'm gonna keep going until I make a success of it...

Welcome back buddy. I just got to the point yesterday after a week and over 100 posts ( I stopped counting at 100) of noobs picking the tops while we moved up over 500 pips and still everybody and their brother were trying to pick the reversal points.
  • #238,892
  • Jul 16, 2010 10:30am Jul 16, 2010 10:30am
Quoting cloggie
Your daily break has nothing to do with the lTL you drew on the chart, it broke for the first time and you decided to countertrend your TL, what is the point then of putting up a nice wedge only to ignore it when she gets broken?

I expected a stop here about an hour ago so you may have a chance yet.
It has everything to do with it, if I miss a major trend break on daily I will wait for an expectable level to join the trend.
That 1.5330 level was the first meaningful retrace which could enable this.
And as I said false breaks in the heat of the move are seen often, M5 bars there after indicated that it could be a false break.
Don't be a hero. Don't have an ego. Always question yourself
  • #238,893
  • Jul 16, 2010 10:30am Jul 16, 2010 10:30am
Continue to my plan ,Add buy 1.5305

PS:"Don't follow me follow ur chart"
  • #238,894
  • Jul 16, 2010 10:30am Jul 16, 2010 10:30am
First time in over a year I've been on this thread.....sad to see it's the same old s*** with different players...people masturbating over their multi-coloured 5min charts....squabbling egos...absurd longterm predictions usually based on whether price happens to be going up or down at that particular moment in time.....

Good luck to the few folk still actually making regular profits on live accounts....may everyone else RIP...
  • #238,895
  • Jul 16, 2010 10:31am Jul 16, 2010 10:31am
GBP,USD
PATTERN 5-0
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  • #238,896
  • Jul 16, 2010 10:33am Jul 16, 2010 10:33am
Quoting pawpaw1000
hehe, Come cloggs, let's keep it cool ;-)

Hows everyone doing? good to see the thread is still flourishing... I've just had 4 weeks holiday and got 1 left but will trade the mornings next week.

Good to be back and hope I haven't forgotten all I've learnt! I'm gonna keep going until I make a success of it...

welcome back mate how u been
  • #238,897
  • Jul 16, 2010 10:40am Jul 16, 2010 10:40am
Quoting kill56
welcome back mate how u been
GREAT! have just been partying and travelling... watched a bit of swc and been really lazy! done absolutely NO training and I have a fitness test in 10 days. AIAIAI... anyhow. Cloggs, You know us noobs mate, you've seen with me that I need to get hit on the head before listening.

To be fair the market has rallied very nicely and I'd like to think I would've gotten with the trend after a couple of ooh aah moments or days... hehe.

Hope you've been making them big bucks, will get back with you next week. Any special news I should know about guys? Euro still buggered and Us data still underperforming looking like a second dip?
@pawpaw1000 on Twitter
  • #238,898
  • Jul 16, 2010 10:42am Jul 16, 2010 10:42am
Quoting baruch
the link is with error
here the chart
Am I wrong or have you let one of your sells go over 200 pips against you?
  • #238,899
  • Jul 16, 2010 10:44am Jul 16, 2010 10:44am
Quoting cloggie
Welcome back buddy. I just got to the point yesterday after a week and over 100 posts ( I stopped counting at 100) of noobs picking the tops while we moved up over 500 pips and still everybody and their brother were trying to pick the reversal points.
Hi Cloggie. Yesterday I got a bit miffed about people being called "idiots" just cos their trading style is different/opposite to yours. You are right and we have moved up 500 pips. In that time I cleared 400 pip profit for myself based on seeing where the daily ranges go entering and averaging my trades.

You book trades with stop losses so some of them lose and you write off the loss and wait for your next entry.

I probably do accept that my strategy is more risky than yours but it works for me. I do not do this full time, I have a day job and don't always have the charts to hand.

Just need to accept that we have different strategies but just cos yours is different doesnt make me an idiot.

Lets just speak in civilised tongues and there will be no need for people to take umbridge with each other
  • #238,900
  • Jul 16, 2010 10:45am Jul 16, 2010 10:45am
Quoting mdiz2
Am I wrong or have you let one of your sells go over 200 pips against you?

What, you surprised? He has a go at me for calling the top pickers muppets and then he posts a chart showing us all a trade over 300 pips in the red because of his top picking.
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