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Cable Update (GBPUSD)

  • #240,941
  • Jul 26, 2010 10:49am Jul 26, 2010 10:49am
Quoting digger1
yes indeed , a good start to the week

Here's one for the CT's again of the R1
  • #240,942
  • Jul 26, 2010 10:53am Jul 26, 2010 10:53am
Quoting cloggie
Here's one for the CT's again of the R1
yea , atm I would definitly let it pass , we have only done 114 pips today so plenty of room somewhere , seems most of the big boys would deem it easier topside than bottom side , stranger things have happened tho, ha ha,
  • #240,943
  • Jul 26, 2010 10:53am Jul 26, 2010 10:53am
Quoting digger1
yea , atm I would definitly let it pass , we have only done 114 pips today so plenty of room somewhere , seems most of the big boys would deem it easier topside than bottom side , stranger things have happened tho, ha ha

I haven't taken a single trade yet to the downside and this PA is not going to change my mind. The big boys are still buying the dips, I just follow them fat dumb and happy. Today I have bought the dips of the supports (72 and 81, like stated hours ago, don't want some muppet to accuse me of taking his trades.....) in the morning and the TL in the afternoon. Even this latest move here is supported of the TL on M30, shorting this is still wishful thinking.
  • #240,944
  • Jul 26, 2010 10:55am Jul 26, 2010 10:55am
In case of this is true.. then now it's time to short with tight stoploss
  • #240,945
  • Jul 26, 2010 10:58am Jul 26, 2010 10:58am
Quoting cloggie
I haven't taken a single trade yet to the downside and this PA is not going to change my mind. The big boys are still buying the dips, I just follow them fat dumb and happy.
had one sht trade from near the top just back down to the averages , tht was it. Other than tht buy buy buy lol
  • #240,946
  • Jul 26, 2010 11:01am Jul 26, 2010 11:01am
Quoting digger1
had one sht trade from near the top just back down to the averages , tht was it. Other than tht buy buy buy lol

We've had a few here trying to pick the tops, scalpers notwithstanding, and ending up with lice like 4x would say.
  • #240,947
  • Jul 26, 2010 11:03am Jul 26, 2010 11:03am
Quoting cloggie
I haven't taken a single trade yet to the downside and this PA is not going to change my mind. The big boys are still buying the dips, I just follow them fat dumb and happy. Today I have bought the dips of the supports (72 and 81, like stated hours ago, don't want some muppet to accuse me of taking his trades.....) in the morning and the TL in the afternoon. Even this latest move here is supported of the TL on M30, shorting this is still wishful thinking.
Hi
R u one of the big boys or have connection with them?
  • #240,948
  • Jul 26, 2010 11:14am Jul 26, 2010 11:14am
Quoting Bitstream
Some nights are just not meant for trading...! I know this post adds no value whatsoever to this thread... just venting out some steam from this directionless nite... Good luck too all who can trade this sort of market
don't despair, you are not alone mate. Sometimes when the markets are like this I find it better to move to a bigger timeframe or just switch pairs rather than smack your head against the desk. If I could scalp well that would also be a good option but I prefer to focus on improving my reading of PA.

On the last 4h hour candle I have a bearish pin from s/r zone and possible evening star formation which could indicate reversal.
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  • #240,949
  • Jul 26, 2010 11:15am Jul 26, 2010 11:15am
Quoting Martingale
In case of this is true.. then now it's time to short with tight stoploss
So far so good.
  • #240,950
  • Jul 26, 2010 11:17am Jul 26, 2010 11:17am
Quoting Martingale
So far so good.
I'm also in the same train, wich is your target?
  • #240,951
  • Jul 26, 2010 11:23am Jul 26, 2010 11:23am
Quoting maurofx
I'm also in the same train, wich is your target?
projection from the top of the head... which falls exactly on the daily pivot: 1.537. what about you? good luck!
  • #240,952
  • Jul 26, 2010 11:24am Jul 26, 2010 11:24am
Quoting cloggie
We've had a few here trying to pick the tops, scalpers notwithstanding, and ending up with lice like 4x would say.
Hey, I thought I was the only one who dared pick the top!? You scared off all the other noobs from doing it!
  • #240,953
  • Jul 26, 2010 11:28am Jul 26, 2010 11:28am
Quoting uksnowman
don't despair, you are not alone mate. Sometimes when the markets are like this I find it better to move to a bigger timeframe or just switch pairs rather than smack your head against the desk. If I could scalp well that would also be a good option but I prefer to focus on improving my reading of PA.

On the last 4h hour candle I have a bearish pin from s/r zone and possible evening star formation which could indicate reversal.
Yeah I should have moved to a higher timeframe... Was on a 5 min chart with a 1 min for entry... My charts were not suited to this sorta market. Total, 30 pip loss... throwing in the towel, enuff banging my head against the wall tontie! Good Luck!
  • #240,954
  • Jul 26, 2010 11:28am Jul 26, 2010 11:28am
Quoting Martingale
projection from the top of the head... which falls exactly on the daily pivot: 1.537. what about you? good luck!
Was asking cause I got none, I ussually close trades mannually. I got: 5450 and 5430 as preset TP areas based on fibos and previous price bounces.
EURGBP broke previous highs, all we need is a little help with a bounce of EURUSD and we'll have our tg, at least my money is on that idea.
Let's see how we go. G/L for both of us!
  • #240,955
  • Jul 26, 2010 11:28am Jul 26, 2010 11:28am
Quoting AnonYmos
Hey, I thought I was the only one who dared pick the top!? You scared off all the other noobs from doing it!
from what I got is a noob (http://www.urbandictionary.com/define.php?term=noobs) I prefer to be called newbie (although I have been trading for couple years now)
  • #240,956
  • Jul 26, 2010 11:31am Jul 26, 2010 11:31am
Quoting maurofx
Was asking cause I got none, I ussually close trades mannually. I got: 5450 and 5430 as preset TP areas based on fibos and previous price bounces.
EURGBP broke previous highs, all we need is a little help with a bounce of EURUSD and we'll have our tg, at least my money is on that idea.
Let's see how we go. G/L for both of us!
I see! Although I am not expecting too much support from EURUSD.. since I see a fibo extension 1.618 right on 1.314 and I see the Chinese traders really excited on moving the EUR up there... let's see ;-) ! hey! r u italian?
  • #240,957
  • Jul 26, 2010 11:33am Jul 26, 2010 11:33am
Quoting Martingale
from what I got is a noob (http://www.urbandictionary.com/define.php?term=noobs) I prefer to be called newbie (although I have been trading for couple years now)
didn't mean you, bro. and as for myself - well, I don't really care.
  • #240,958
  • Jul 26, 2010 11:36am Jul 26, 2010 11:36am
Quoting Martingale
I see! Although I am not expecting too much support from EURUSD.. since I see a fibo extension 1.618 right on 1.314 and I see the Chinese traders really excited on moving the EUR up there... let's see ;-) ! hey! r u italian?
No querido, Argentino!! Felicitaciones por la copa, Y OLE!!! Hope we can finish the trading day celebrating our short trade!! Abrazo!!!
  • #240,959
  • Jul 26, 2010 11:36am Jul 26, 2010 11:36am
Quoting AnonYmos
didn't mean you, bro. and as for myself - well, I don't really care.
no worries man we r both here to trade and make cash
  • #240,960
  • Jul 26, 2010 11:42am Jul 26, 2010 11:42am
Quoting cloggie
I haven't taken a single trade yet to the downside and this PA is not going to change my mind.
I agree with that. It's second month on bulls, why should someone go short if nothing yet suppports it? Even months may pass until we'll see signal for bears.
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