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Cable Update (GBPUSD)

  • #243,161
  • Aug 4, 2010 10:34am Aug 4, 2010 10:34am
Quoting kaspopsicle
Can someone please help me to post a chart .i think i have something quite exiting on one of my systems. Could explain it in terms of emas but would be so much better if i could post the chart.

Safe it somewhere, post reply and click on attachment, browse, double click your chart and hit upload. Job done.
  • #243,162
  • Aug 4, 2010 10:37am Aug 4, 2010 10:37am
honestly watching price action moves and dip tempting long...but i shall wait for it its coming back in the channel and then wait for i test then...longggg
Quoting cloggie
5755 would be my target and 5820 was never support on the daily.
We cannot direct the winds but we can adjust our sail.
  • #243,163
  • Aug 4, 2010 10:38am Aug 4, 2010 10:38am
Quoting cloggie
Just about here would make perfect sense.
absolutely....actually market had finished its rally monday-early tuesday...then we had the upthrust...combine that with the 1.60 key and NFP...that makes for a nasty 100-pip poisonous brew with another 50 pips cushion on either side...

so jobbing the range continues I guess for now...
Hear the music before the song is over ...
  • #243,164
  • Aug 4, 2010 10:38am Aug 4, 2010 10:38am
Quoting posterboy
honestly watching price action moves and dip tempting long...but i shall wait for it its coming back in the channel and then wait for i test then...longggg

If all retail traders would just wait for a confirmation of direction we would all make a killing and the brokers would have to think of something else to rip us of.

There are just too many retailers that continue to jump the gun because they are too scared to give up a few pips and end up on the wrong side of the trade a majority of times.
  • #243,165
  • Aug 4, 2010 10:38am Aug 4, 2010 10:38am
Quoting cloggie
5550 as an initial, because it coincides with the weekly.
Quoting cloggie
It is Tuesday's low.


I have Tues low at 5441.
******************* I'd rather make money than be right.
  • #243,166
  • Aug 4, 2010 10:39am Aug 4, 2010 10:39am
short 1.5888
20 pip stop
  • #243,167
  • Aug 4, 2010 10:40am Aug 4, 2010 10:40am
Quoting 4xStar
I have Tues low at 5441.

because you don't use a broker that uses the London times. You probably got some dodgy US broker. 70% of the volume is around London, that's what I use. Just use your hourly to find the London range, no big deal.
  • #243,168
  • Aug 4, 2010 10:41am Aug 4, 2010 10:41am
Good day all. i am new to this forum and a noob at that too! i have been reading your posts generally especially on eur/usd and gbp/usd and i must say i am learning quite a lot from you guys.

Cloggie how long did it take you to build up this level of expertise? any books i can read to learn much about understanding and trading price action....like you described the gbp/usd trade on friday 30th july2010?

best regards
  • #243,169
  • Aug 4, 2010 10:42am Aug 4, 2010 10:42am
cloogie fruit is ripe iam jumping in my long ......catch some pips


Quoting cloggie
If all retail traders would just wait for a confirmation of direction we would all make a killing and the brokers would have to think of something else to rip us of.

There are just too many retailers that continue to jump the gun because they are too scared to give up a few pips and end up on the wrong side of the trade a majority of times.
We cannot direct the winds but we can adjust our sail.
  • #243,170
  • Aug 4, 2010 10:43am Aug 4, 2010 10:43am
Quoting cloggie
because you don't use a broker that uses the London times. You probably got some dodgy US broker. 70% of the volume is around London, that's what I use.
So you are saying there can be a 100 pip difference between brokers? I also have Alpari UK for Meta 4 (as backup) and it agrees with my forex.com MT4.
******************* I'd rather make money than be right.
  • #243,171
  • Aug 4, 2010 10:43am Aug 4, 2010 10:43am
Quoting 4xStar
So you are saying there can be a 100 pip difference between brokers? I also have Alpari UK for Meta 4 (as backup) and it agrees with my forex.com MT4.

It all depends what the day's cutoff is. I am talking rubbish, it is Friday's I was looking at an old fib line. The low is 55506, the first LL on the daily that failed.
  • #243,172
  • Aug 4, 2010 10:46am Aug 4, 2010 10:46am
Quoting lechidi
Good day all. i am new to this forum and a noob at that too! i have been reading your posts generally especially on eur/usd and gbp/usd and i must say i am learning quite a lot from you guys.

Cloggie how long did it take you to build up this level of expertise? any books i can read to learn much about understanding and trading price action....like you described the gbp/usd trade on friday 30th july2010?

best regards

I work with some guys on the side and always tell them it takes 10,000 hours to get the hang of it. I am probably not far of.
  • #243,173
  • Aug 4, 2010 10:48am Aug 4, 2010 10:48am
is it a good time to go for long cloggie as its bounced back and crossed 1.58900
  • #243,174
  • Aug 4, 2010 10:50am Aug 4, 2010 10:50am
Quoting chitindu
is it a good time to go for long cloggie as its bounced back and crossed 1.58900

We still haven't broken the top of the earlier range yet, so your trade is in anticipation of it going. You'll be happy if it does and will get stopped if it doesn't. 50/50 trade, not a ratio I like.
  • #243,175
  • Aug 4, 2010 10:51am Aug 4, 2010 10:51am
i thought the top of the earlier range was 1.58900, please could u correct me
  • #243,176
  • Aug 4, 2010 10:52am Aug 4, 2010 10:52am
Quoting chitindu
i thought the top of the earlier range was 1.58900, please could u correct me

You're 11 pips too early. I would rather forfeit those 11 pips knowing that my direction is confirmed and bag the 50 pips or so rather then anticipating the move and keep getting stopped by fake 'n shakes.

Stop trading what you think and expect and trade what you see confirmed in the price.
  • #243,177
  • Aug 4, 2010 10:52am Aug 4, 2010 10:52am
Quoting cloggie
It all depends what the day's cutoff is. I am talking rubbish, it is Friday's I was looking at an old fib line. The low is 55506, the first LL on the daily that failed.
That is good ... I thought I might be losing my mind
******************* I'd rather make money than be right.
  • #243,178
  • Aug 4, 2010 10:53am Aug 4, 2010 10:53am
Oh OK,If breaks below 15864 and holds..short through round number,through 15819, 15803 to 15775.. them i'll learn how to post a chart.
All systems of divination, like music itself,work through patterns.
  • #243,179
  • Aug 4, 2010 10:53am Aug 4, 2010 10:53am
Quoting 4xStar
That is good ... I thought I might be losing my mind

I was, posting too much again and ignoring my screens.
  • #243,180
  • Aug 4, 2010 10:54am Aug 4, 2010 10:54am
Quoting honeybhi
I expect
Once again, when you say that - you are wrong.
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