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Cable Update (GBPUSD)

  • #245,981
  • Aug 16, 2010 8:20am Aug 16, 2010 8:20am
AnonYmos where did you enter this trade is it after as cloggie suggests that once price breaks out of the box wait for the restest than enter long is that what you did so you entered around 1.5596?



Quoting AnonYmos
Nice trade based on Cloggie's box method. Even if it's only a visualization, I really find it helpful. Thanks for teaching me this one, bro!
  • #245,982
  • Aug 16, 2010 8:20am Aug 16, 2010 8:20am
Quoting joemiami
She headed back down boys, hell is calling

short at 5658
Well what goes up usually comes back down..........................
  • #245,983
  • Aug 16, 2010 8:24am Aug 16, 2010 8:24am
No one can accuse this market as being

A one trick pony
  • #245,984
  • Aug 16, 2010 8:25am Aug 16, 2010 8:25am
Hi I think this would be an excellent place to short based on the down channel on the H4 and and M15 hitting the top of the channel. For comments please. Cloggie it would be great if you could comment if you have a second! Thanks
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Attached Image
  • #245,985
  • Aug 16, 2010 8:30am Aug 16, 2010 8:30am
Quoting Pickensrulz
After 15613, there is 15649, 15663 and 15678. I'll admit defeat about 15680....
Good to see that 15680 has the mojo working.

Am I being too forward if I say that we just saw the weekly high?
  • #245,986
  • Aug 16, 2010 8:31am Aug 16, 2010 8:31am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
crappy market..I might be out with some dosh and cancel my poition instead of nothing if it goes below 1561xxx.





Quoting ams
Almost there @157
  • #245,987
  • Aug 16, 2010 8:35am Aug 16, 2010 8:35am
Quoting kdx
AnonYmos where did you enter this trade is it after as cloggie suggests that once price breaks out of the box wait for the restest than enter long is that what you did so you entered around 1.5596?
Entered at the vertical line, i.e. after the pullback to the box. However, keep in mind that according to Cloggie in many instances the first breakout is a fake. I ignored that here (for no particular reason).
  • #245,988
  • Aug 16, 2010 8:39am Aug 16, 2010 8:39am
Quoting Pickensrulz
Good to see that 15680 has the mojo working.

Am I being too forward if I say that we just saw the weekly high?
Hey bro, you oughta know that we love calling tops here! Oh, and it's only Monday ...
  • #245,989
  • Aug 16, 2010 8:42am Aug 16, 2010 8:42am
What a whipsaw we've just experienced...

Hope none of you guys got whipped in the last move...
  • #245,990
  • Aug 16, 2010 8:43am Aug 16, 2010 8:43am
Quoting AnonYmos
Nice trade based on Cloggie's box method. Even if it's only a visualization, I really find it helpful. Thanks for teaching me this one, bro!
Are there any threads that describe this method?
  • #245,991
  • Aug 16, 2010 8:44am Aug 16, 2010 8:44am
Quoting AnonYmos
Hey bro, you oughta know that we love calling tops here! Oh, and it's only Monday ...
I guess my humor was missed by some.

GL
  • #245,992
  • Aug 16, 2010 8:44am Aug 16, 2010 8:44am
Thanks for that anonymos, should have seen the buy from your chart where you have the vertical line. Cloggie if you are around would you not have been concerned that the daily pivot was just above and also that you had a LTL above also?

Great way got to say...
  • #245,993
  • Aug 16, 2010 8:47am Aug 16, 2010 8:47am
Quoting HowieTrader
What a whipsaw we've just experienced...

Hope none of you guys got whipped in the last move...
Nope actually doesn't bother me which way it goes........

I only trade what I can see, not what I think I can see
  • #245,994
  • Aug 16, 2010 8:51am Aug 16, 2010 8:51am
Quoting Pickensrulz
I guess my humor was missed by some.

GL
absolutely not, bro!
  • #245,995
  • Aug 16, 2010 8:55am Aug 16, 2010 8:55am
Quoting Bitstream
Are there any threads that describe this method?
no thread but check out the attachment. A nice visitor to this thread here (apologies, forgot your name) made the effort to summarize the communication which explains it.
Attached File(s)
File Type: doc Cloggie-4x-Conversation07-30-10.doc   25 KB | 371 downloads
  • #245,996
  • Aug 16, 2010 8:59am Aug 16, 2010 8:59am
Quoting Bitstream
Hi I think this would be an excellent place to short based on the down channel on the H4 and and M15 hitting the top of the channel. For comments please. Cloggie it would be great if you could comment if you have a second! Thanks
I don't think now is the right time to pick tops imho. I have been using this 4h chart for a few weeks and we have only just retraced to the medium term (up) trendline which can be seen even more clearly on daily chart.

The current 4h candle is about to close as a bullish engulfing so I would rather wait for 1.5815 area before shorting and instead buy dips until we get up there and see if there is any confirmation for shorts.

It has been a lot easier to make money with longs today than with shorts, put it that way.
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  • #245,997
  • Aug 16, 2010 8:59am Aug 16, 2010 8:59am
Quoting AnonYmos
no thread but check out the attachment. A nice visitor to this thread here (apologies, forgot your name) made the effort to summarize the communication which explains it.
Hi AnonYmos,
Thanks for taking the effort to summarise it Reading it now with much interest!
  • #245,998
  • Aug 16, 2010 9:10am Aug 16, 2010 9:10am
Quoting uksnowman
I don't think now is the right time to pick tops imho. I have been using this 4h chart for a few weeks and we have only just retraced to the medium term (up) trendline which can be seen even more clearly on daily chart.

The current 4h candle is about to close as a bullish engulfing so I would rather wait for 1.5815 area before shorting and instead buy dips until we get up there and see if there is any confirmation for shorts.

It has been a lot easier to make money with longs today than with shorts, put it that way.
Good call on the longs Snowman. The high probable trade would be to look for Longs or stand aside until price is stable in its chosen direction.
  • #245,999
  • Aug 16, 2010 9:21am Aug 16, 2010 9:21am
Quoting forexlion
i was contemplating on whether to trail this pos with a trailing stop

but finally decided to leave a stop @ BE and let it run

less headache


http://img90.imageshack.us/img90/5499/92744506.gif

my max target levels for this week

i will get out @ 5850

but if it decides to bounce off 5750 then 5750 it will be

http://img839.imageshack.us/img839/4796/16158360.gif
  • #246,000
  • Aug 16, 2010 9:22am Aug 16, 2010 9:22am
Another beautiful example for Cloggie's box trades. Missed the entry which, imho, would have been at where the arrow is. Closed half of my pos at the 2d vertical line tho, thereby secured 40 pips and moved sl to entry. So nothing to worry about.
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