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Cable Update (GBPUSD)

  • #245,601
  • Aug 13, 2010 7:29am Aug 13, 2010 7:29am
Quoting AdrianHNV
HOW?????

On same account or different ones????
When i come back from work i enter an obvious trade. But i don,t rely on it to much because it is to obvious and i get myself mentally ready to enter double size reverse. Still ready to reverse reverse. When i get sum profit i may close all negative and positive with sum positive
  • #245,602
  • Aug 13, 2010 7:35am Aug 13, 2010 7:35am
Quoting DhaoS
I don't really understand why there is so much bears on there...
What i'm missing :o?
400 pips & 3 birds
Thank You
  • #245,603
  • Aug 13, 2010 7:40am Aug 13, 2010 7:40am
Quoting bbakker
1.5550 is the lower end of the demand zone also better known as resistance. If you are going to sell, you can sell on the breakout of the zone at 1.5540 or on the ltl on h4, but personally I would not do that. I would wait for it drop to the next demand zone, retrace back to the supply zone and then go short, but this is just me and it is in my trading plan! If you want to know demand/supply zones, please check my previous posts for the link.

Some people trade breakouts, but breakouts can easily turn into fakeouts. There is enough demand at the...
this market is on the low of the week....i think it is going north today...
i am long from 55982...
  • #245,604
  • Aug 13, 2010 7:40am Aug 13, 2010 7:40am
Quoting meromar
When i come back from work i enter an obvious trade. But i don,t rely on it to much because it is to obvious and i get myself mentally ready to enter double size reverse. Still ready to reverse reverse. When i get sum profit i may close all negative and positive with sum positive
You are working on defying the known forex outcome of more than 90% traders loose. I know one guy doing all the TA and entering the trade in opposite direction...huh...too many things to learn for me
  • #245,605
  • Aug 13, 2010 7:44am Aug 13, 2010 7:44am
I read on Mni just before release that there was talk of sovereign demand at 5570 so when the 15min gave some 'wicky' candles at a potential HL after the 1hr had closed as pinbar it seemed a good long for a few pips scalp after data was out....
http://www.easy-upload.net/fichiers/...0813144221.gif
ex member
  • #245,606
  • Aug 13, 2010 7:46am Aug 13, 2010 7:46am
Quoting bbmac
are 15min candles giving an advanced clue to news reaction on knee-jerk + ?? Time will tell...2mins

mmmm....with the Europen morning's low at the confluence of yesterdays low and the 5575 level and in a high volume doji, follwed ~an hour later by a higher low it did rather suggest a move north, with the resistance ~Wednesdays low of 5611 as a nice place to bank some pips.....
Trading Levels with WRBs
  • #245,607
  • Aug 13, 2010 7:50am Aug 13, 2010 7:50am
Quoting 4xStar
Agree .. if I looked for reasons NOT to enter a trade I would probably never trade .. and we are traders after all.. gotta accept the risk.
I think a better strategy is to always know what would make you EXIT a trade once you have made the decision to enter .. and then respect that.
My biggest problem in the past was entering a trade & thinking 'if it does so-and-so I will get out" .. but then the soandso happened and I found (or invented!) another justification to stay in. What was supposed to be a scalp turned into a longer term hold .. with...


Plan your trade and then trade to your plan. How many times do you hear that on here? It is because it is so true. If you don't have a trading plan, you will keep changing your mind and that is fatal! I remember one of Cloggie's old posts which is the typical thought process of a trader with no plan!

http://www.forexfactory.com/showthre...ck#post3786428

I can hear newbies reading this who don't have a trading plan, saying it is all in my head, I know my plan, I know what I am doing. To answer that I would say that your mind will and does play tricks on you. Get it down on paper and keep referring to it until that plan becomes second nature!

Search FF for "trading plan" and you will find a great template.... well what are you waiting for...
  • #245,608
  • Aug 13, 2010 7:50am Aug 13, 2010 7:50am
yeh re post above...that previous 1hr swing lo zone = potential sbr is where price may find some supply...1hr screenshot below...price puilled back to top of 5min channel and has found fresh demand there....and there is a HL now on 15min...will book profit around here though ahead of that potential sbr on 1hr.

G/L

http://www.easy-upload.net/fichiers/z.2010813144913.gif
ex member
  • #245,609
  • Aug 13, 2010 7:52am Aug 13, 2010 7:52am
Done for week. G/L with rest of session...

http://www.easy-upload.net/fichiers/z.2010813145157.gif
ex member
  • #245,610
  • Aug 13, 2010 7:54am Aug 13, 2010 7:54am
Quoting mpurdy1973
this market is on the low of the week....i think it is going north today...
i am long from 55982...
You are near a demand zone, so a long from here is not a bad thing. 1.5650 should be your 1st target, which is the start of the next supply zone and the bears will be coming out again in this zone. Whoever wins the battle will determine which direction we will go in.

Again for me the R/R ratio is not there on GU. EU for me and still not reached my 1st target, but hey I am not going to lose any sleep over it.

Good luck with your trade!
  • #245,611
  • Aug 13, 2010 7:55am Aug 13, 2010 7:55am
Quoting wormboy
hi sailor,

i see it. if current hour's candle closes bullish matching 50% or more to the previous bear candle than maybe it'll be a good idea to clear. Else, I think shorts are still ok.
Thanks, now 50% reach but we are below the DP for both pair (for this moment i keep my short).
Trade with the momentum
  • #245,612
  • Aug 13, 2010 7:58am Aug 13, 2010 7:58am
Quoting bbmac
yeh re post above...that previous 1hr swing lo zone = potential sbr is where price may find some supply...1hr screenshot below...price puilled back to top of 5min channel and has found fresh demand there....and there is a HL now on 15min...will book profit around here though ahead of that potential sbr on 1hr.

G/L

http://www.easy-upload.net/fichiers/z.2010813144913.gif
would you mind sharing your mq4 indicator?
  • #245,613
  • Aug 13, 2010 7:58am Aug 13, 2010 7:58am
Quoting bbmac
Done for week. G/L with rest of session...

http://www.easy-upload.net/fichiers/z.2010813145157.gif
you missed the overhead res mac. pretty tight. could go either way imo
Attached Image (click to enlarge)
Click to Enlarge Name: g5.gif Size: 19 KB
Thank You
  • #245,614
  • Aug 13, 2010 8:01am Aug 13, 2010 8:01am
Quoting mpurdy1973
would you mind sharing your mq4 indicator?
on that screenshot the only mq4 indicator I use is the fib tool standard on the line studies toolbox of the MT4 charting. The trend lines and coloured zones are added and updated manually as appropriate again using the rectangle and trend lines tool in the line studies toolbox of the MT4 charting.

G/L
ex member
  • #245,615
  • Aug 13, 2010 8:02am Aug 13, 2010 8:02am
Quoting wormboy
you missed the overhead res mac. pretty tight. could go either way imo
You're not wrong there Wormie!

BTW, those LFX charts you posted yesterday. I tried to find them in Sigtrader (LiteForex) demo account and can't see the wood for the trees. Where have they hidden the little buggers, or do you need a live account for these LFX feeds/charts???
  • #245,616
  • Aug 13, 2010 8:03am Aug 13, 2010 8:03am
Quoting wormboy
you missed the overhead res mac. pretty tight. could go either way imo
Had it covered mate, see post above yours, '...that previous 1hr swing lo zone = potential sbr is where price may find some supply...' I had it marked on 1hr t/f as potential sbr...exited accordinbly for +11pips only...Thanx.
ex member
  • #245,617
  • Aug 13, 2010 8:04am Aug 13, 2010 8:04am
Quoting mpurdy1973
this market is on the low of the week....i think it is going north today...
i am long from 55982...

i flat now (got out with at .7 pip + )
  • #245,618
  • Aug 13, 2010 8:07am Aug 13, 2010 8:07am
Quoting mpurdy1973
i flat now (got out with at .7 pip + )
Was that in your plan then?
  • #245,619
  • Aug 13, 2010 8:08am Aug 13, 2010 8:08am
Quoting bbakker
You're not wrong there Wormie!

BTW, those LFX charts you posted yesterday. I tried to find them in Sigtrader (LiteForex) demo account and can't see the wood for the trees. Where have they hidden the little buggers, or do you need a live account for these LFX feeds/charts???
I had LiteForex demo & they were there .. did you try
View>>Market Watch then right click and Show All
******************* I'd rather make money than be right.
  • #245,620
  • Aug 13, 2010 8:08am Aug 13, 2010 8:08am
Quoting bbakker
You're not wrong there Wormie!

BTW, those LFX charts you posted yesterday. I tried to find them in Sigtrader (LiteForex) demo account and can't see the wood for the trees. Where have they hidden the little buggers, or do you need a live account for these LFX feeds/charts???
nah.
go to marketwatch, right click on the area & click "show all".
They'll appear with a bunch of other goodies
Thank You
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