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Cable Update (GBPUSD)

  • #240,641
  • Jul 23, 2010 8:41am Jul 23, 2010 8:41am
hi! i bought at 5365, sl 25 pips and tp 5445!
Volatility was expected, because bank stress tests can be quite bad and then all will fall down, will be risk off day.
bought only half of usual position size
Positive GDP should leave focus on upside
  • #240,642
  • Jul 23, 2010 8:42am Jul 23, 2010 8:42am
Quoting zoreli
I am thinking of buying the cable if the 1.5370 area holds on hourly chart. Any thoughts?
I thought you wanted to end your week in profit? Patience and wait for the river.... Your talking to the wrong guy about bottom and top picking without clear reversal signals... I think Cloggie has a list of people who could help you with that.... lol

Nice Euro trade bud!
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,643
  • Jul 23, 2010 8:44am Jul 23, 2010 8:44am
Quoting Bull_Bear
KISS mate, don't over complicate
That is what I have been doing.. simplifying

But added a bunch of 4 hour charts, got trade direction plotted, etc.. never even looked at a 1HR chart today....
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,644
  • Jul 23, 2010 8:44am Jul 23, 2010 8:44am
Interesting EJ
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #240,645
  • Jul 23, 2010 8:46am Jul 23, 2010 8:46am
Quoting damonl
I thought you wanted to end your week in profit? Patience and wait for the river.... Your talking to the wrong guy about bottom and top picking without clear reversal signals... I think Cloggie has a list of people who could help you with that.... lol

Nice Euro trade bud!
It was just an idea man ....Later I switch on daily chart, and guess what...price is touching 200 EMA right on this level...

So I am off and out for today. Have a nice weekend to all.
  • #240,646
  • Jul 23, 2010 8:51am Jul 23, 2010 8:51am
Quoting zoreli
It was just an idea man ....Later I switch on daily chart, and guess what...price is touching 200 EMA right on this level...

So I am off and out for today. Have a nice weekend to all.
Yeah.. just full of myself today I guess and dishin' some crap today. Have a good one!
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,647
  • Jul 23, 2010 8:53am Jul 23, 2010 8:53am
Lady Sterling: "Now .. where was I before I was so RUDELY interrupted by that stupid rumor...."
******************* I'd rather make money than be right.
  • #240,648
  • Jul 23, 2010 8:56am Jul 23, 2010 8:56am
Off to see SugarLand at an outdoor concert this weekend. I will try to keep you guys in mind while I am watching Jennifer Nettles show off the best voice in music today, but... Don't Hold Your Breaths!!!

Inserted Video
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,649
  • Jul 23, 2010 8:57am Jul 23, 2010 8:57am
Quoting damonl
I thought you wanted to end your week in profit? Patience and wait for the river.... Your talking to the wrong guy about bottom and top picking without clear reversal signals... I think Cloggie has a list of people who could help you with that.... lol

Nice Euro trade bud!
hey bro where can I find good information on reverse signals etc...? Im still a newbie and struggled a few months ago and obviously did very badly - lack of patience! anyway Im back in - only small stuff so this week I made 200 bucks and last week 700, which isnt much but Im only trading 50 cents and 1 dollar

anyway at the moment Im relying alot on the information here and off friends, then looking at my own charts and pivots (sometimes trend lines - although they dont look very good LOL) and making my own decision whether I think its worth it or not - but the point is, I want to be able to do it all myself and spot all these things reverse signals etc etc.. does this just come through practice or can I read and learn alot of this too?

thanks
"Millionaires don't use astrology, billionaires do"
  • #240,650
  • Jul 23, 2010 9:04am Jul 23, 2010 9:04am
Closed the trade
92264770 | 2010.07.23 13:24 | sell | 2.00 | gbpusdm | 1.53630 | 0.00000 | 1.53020 | 2010.07.23 14:02 | 1.53576 | 10.80

The pair is seen resistive to the Ichimoku line, it is called Kijun Sen line (hover mouse on the line and it said the name, LOL)

Will stay out this freaky-Friday and stay green for the week...
Am I too early getting out of the trade?

The RSI is getting softer (curvy) so that I'm staying out of any Shorts at the moment...


Quoting HowieTrader
Let's see if the pair can still dive a little bit more today...
Short @ 1.53630
TP @ 1.53028 (Will close the trade manually if necessary)
SL @ 1.54448 (Near today's high)

The RSI is still pointing down, deep down now... Any comments?
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  • #240,651
  • Jul 23, 2010 9:04am Jul 23, 2010 9:04am
Quoting forex_growth
hey bro where can I find good information on reverse signals etc...?
You know, there is such thing we call "internet". Do a search. Buy a book.
  • #240,652
  • Jul 23, 2010 9:05am Jul 23, 2010 9:05am
Quoting forex_growth
hey bro where can I find good information on reverse signals etc...? Im still a newbie and struggled a few months ago and obviously did very badly - lack of patience! anyway Im back in - only small stuff so this week I made 200 bucks and last week 700, which isnt much but Im only trading 50 cents and 1 dollar

anyway at the moment Im relying alot on the information here and off friends, then looking at my own charts and pivots (sometimes trend lines - although they dont look very good LOL) and making my own decision whether I think its worth...
Best thing is to google reversal patterns and jump in....
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,653
  • Jul 23, 2010 9:07am Jul 23, 2010 9:07am
Quoting xenu
You know, there is such thing we call "internet". Do a search. Buy a book.
The smart thing to do would be to ask on a targeted forum as to find advice from a person who would have done lots of hours of research before hand. That is what he has done, give him a break.
Probability Professor
  • #240,654
  • Jul 23, 2010 9:09am Jul 23, 2010 9:09am
Quoting Magix
Interesting EJ
Indeed...it made my day. I sold on the touch of HH UTL. Would really like to see it going through DP...it could be a mess!! As a long term trade price testing lower TL of the chanell would be great.
What do you think about it pal? Next week stuff anyway.
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  • #240,655
  • Jul 23, 2010 9:09am Jul 23, 2010 9:09am
Quoting Galation
The smart thing to do would be to ask on a targeted forum as to find advice from a person who would have done lots of hours of research before hand. That is what he has done, give him a break.
But if you use the search feature on the targeted forum and put in 'reversal signals' you'll find lots of previous posts where people have discussed that ... so experienced traders who already give generously of their time to help newbies don't have to post & re-post and re-re-post the same information dozens of times....
******************* I'd rather make money than be right.
  • #240,656
  • Jul 23, 2010 9:10am Jul 23, 2010 9:10am
Agreed... Spent most of my time reading online article (maybe some ebooks, was not sure it is legal or not...)

Anyway, I know some websites that are quite resourceful, but anyone know if it is OK to promote other websites inside the forum? I'm not getting banned for those action if it is not OK...

Quoting damonl
Best thing is to google reversal patterns and jump in....
  • #240,657
  • Jul 23, 2010 9:10am Jul 23, 2010 9:10am
Quoting xenu
You know, there is such thing we call "internet". Do a search. Buy a book.
thanks bro youre right... hmmmm why didnt I think of that...?! or maybe its cus I read a forum full of good experienced traders who have been there and done it and know whats good to read and whats not good to read... If a med student ever asked me a similar question, I'd say you know theres too much to learn and impossible to learn it all.. so concentrate on this and that and you'll do well!

but then again I like to help people.. its called karma!
"Millionaires don't use astrology, billionaires do"
  • #240,658
  • Jul 23, 2010 9:12am Jul 23, 2010 9:12am
beauty thanks guys - good point on searching forum!
"Millionaires don't use astrology, billionaires do"
  • #240,659
  • Jul 23, 2010 9:15am Jul 23, 2010 9:15am
Quoting forex_growth
or maybe its cus I read a forum full of good experienced traders who have been there and done it and know whats good to read and whats not good to read...
OK, that's cool, so, do you see answer here, on this topic?
  • #240,660
  • Jul 23, 2010 9:15am Jul 23, 2010 9:15am
Quoting HowieTrader

The RSI is getting softer (curvy) so that I'm staying out of any Shorts at the moment...
Excellent analysis of RSI. Often people ignore this.
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