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Cable Update (GBPUSD)

  • #246,281
  • Aug 17, 2010 12:25pm Aug 17, 2010 12:25pm
Quoting wormboy
yup, nice buildup to the shorts once price bounced hard at the w1 pvp.
be nice if we get to test the monthly pvp in a day or two

later matt, take care
Hey wormy...

Found I'm not getting time to play the m15 so have been doing h4 this week. Having better results. Got in at 1.5672 on the short side but am watching carefully now. Will move s/l to BE and then see what happens. Wanting to ride this one down but seems like we are at support and anything can happen. In the longer term, I am really short the Dollar but riding it as I see it and as it happens...

Good luck and btw, hows trading been? Still coining it ;-)
@pawpaw1000 on Twitter
  • #246,282
  • Aug 17, 2010 12:31pm Aug 17, 2010 12:31pm
Quoting wormboy
just a head's up mate. price is sitting at the neckline. Once the support goes, there will be no longs for quite a while I reckon.
Have a good one.
Yeah been watching that h&s for quite a while. Big ones usually don't take off. Long off the top of the right shoulder are pretty good as well.
  • #246,283
  • Aug 17, 2010 12:34pm Aug 17, 2010 12:34pm
Quoting kaspopsicle
hi, i'm 11 months old. can only scalp cos dont have the money for big SL. Thanks to the amazing people on this thread/forum i feel that i'm making progress. Today i have done +68 /-28 ..is anyone interested in telling me whether this is good progress or not., this is the ratio that i'm achieving most days now.Untill recently(6 weeks ago) i was breaking even at best.Occassionly BIG profit but averaged out by consistent loss. This is a serious question !!!
Also i would like to say that if i were in a position to vouch ,the following ,in no particular...
I think this is a great day.

Success in forex only comes with consistency. Once you can gain daily, no matter what size or amount, you have something to build on.

A daily strategy.
It can be all too easy to watch life walk by you and gains turn into losses by trying to squeeze every last pip out of market day. There are times to trade and times to sit on your hands, these can only be defined by you. Consistency will help you take what you are making and turn it into what you need to be making by an adjustment to lot size. Find your daily target on the pip side of things, and work until you have reached your goal. In doing this you will not only grow your account but will grow your confidence as well.

Reward yourself by taking some time out to smell the roses. What good is all of the success in the world if you are not able to share yourself with those around you?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #246,284
  • Aug 17, 2010 12:52pm Aug 17, 2010 12:52pm
Quoting pawpaw1000
Hey wormy...

Found I'm not getting time to play the m15 so have been doing h4 this week. Having better results. Got in at 1.5672 on the short side but am watching carefully now. Will move s/l to BE and then see what happens. Wanting to ride this one down but seems like we are at support and anything can happen. In the longer term, I am really short the Dollar but riding it as I see it and as it happens...

Good luck and btw, hows trading been? Still coining it ;-)
hi pawpaw

same here, been busy with other things this week I am not able to scalp etc. I've only placed 2 trades this week so far. One cable short is still running, taken off the htf. Yes price again at support which also happens to be the h&s neckline which is forming.

Trading's okay. Hope you're doing well

Good luck.
Thank You
  • #246,285
  • Aug 17, 2010 12:56pm Aug 17, 2010 12:56pm
Quoting trending
Yeah been watching that h&s for quite a while. Big ones usually don't take off. Long off the top of the right shoulder are pretty good as well.
No, the big ones are very rare & they take time to form. Once price is below the neckline, the fall will be spectacular.

Here's an example of a "big one"

1. http://www.forexfactory.com/showpost...stcount=224087
2. http://cdn.forexfactory.com/attachme...6&d=1273217273
Thank You
  • #246,286
  • Aug 17, 2010 1:03pm Aug 17, 2010 1:03pm
Quoting wormboy
No, the big ones are very rare & they take time to form. Once price is below the neckline, the fall will be spectacular.

Here's an example of a "big one"

1. http://www.forexfactory.com/showpost...stcount=224087
2. http://cdn.forexfactory.com/attachme...6&d=1273217273
Many thanks for sharing, with us NewBees
  • #246,287
  • Aug 17, 2010 1:05pm Aug 17, 2010 1:05pm
Be interesting to see if Cable breaks this trendline and the 5550 level.

Attached Image (click to enlarge)
Click to Enlarge Name: cable4hr.gif Size: 25 KB
Are you treadstone?
  • #246,288
  • Aug 17, 2010 1:07pm Aug 17, 2010 1:07pm
Quoting AdrianHNV
Many thanks for sharing, with us NewBees
you're welcome mate. The current H&S is still forming & is not valid yet. Price still has to close below the neckline to be valid. But judging by the bearish W1 & D1 patterns, it's hard to see how this neckline not giving way tbh. Just keep an eye on the break when it happens.

Have a good one. Later fellas.
Thank You
  • #246,289
  • Aug 17, 2010 1:09pm Aug 17, 2010 1:09pm
Quoting Jason Bourne
Be interesting to see if Cable breaks this trendline and the 5550 level.

Attachment
yes but i've bought @ 1.5566 with a high RRR & low SL
and a sell stop @ 1.5520 !
  • #246,290
  • Aug 17, 2010 1:18pm Aug 17, 2010 1:18pm
Bee is buzzzzzzzingoff for the day, got my pips, now happy.

Have put another 'short' on for the overnight drop, with a much smaller $ PIP VALUE though just in case she turns.............. and of course a much smaller S/L as well

Bee good all have fun, don't forget to take time off to smell the flowers
  • #246,291
  • Aug 17, 2010 1:19pm Aug 17, 2010 1:19pm
Quoting wormboy
hi pawpaw

same here, been busy with other things this week I am not able to scalp etc. I've only placed 2 trades this week so far. One cable short is still running, taken off the htf. Yes price again at support which also happens to be the h&s neckline which is forming.

Trading's okay. Hope you're doing well

Good luck.
got in at top of the right shoulder as I sold just below my resistance level, Good RR and worked out. up 110 so far, watching the neck line and 1.5550 Might close there and get back in 2moro LO...
@pawpaw1000 on Twitter
  • #246,292
  • Aug 17, 2010 1:20pm Aug 17, 2010 1:20pm
She is doing her thing.
1.5562

Its getting hot!
http://s.plurielles.fr/mmdia/i/05/7/...c_1370.jpg?v=1
"Flip that coin!"
  • #246,293
  • Aug 17, 2010 1:22pm Aug 17, 2010 1:22pm
just my view........


comments appreciated ......


have a nice day/night



pipgame
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1gu h1.gif Size: 34 KB
Click to Enlarge Name: 2gu h1.gif Size: 27 KB
  • #246,294
  • Aug 17, 2010 1:25pm Aug 17, 2010 1:25pm
Quoting kaspopsicle
Glad to hear the financial world is known to you.i'm sure the're happy too.
Sooooooooooooooo... a brain to pick on fundymental?
You are fortunate in having some background.
i sell Fish ... good with people ,hopeless at the brainy stuff.
That's nice Kas...I love the sea and everything in it...especially fish, scampi...LOL...you name it...
Maybe I should take some time off doing what you do...I am sure that would be a great relaxing experience for me...
Hear the music before the song is over ...
  • #246,295
  • Aug 17, 2010 1:28pm Aug 17, 2010 1:28pm
Quoting pipgame
just my view........


comments appreciated ......


have a nice day/night



pipgame
Hey boys, Agree with you all that we are propably looking south but don't reckon Asia is going to break us down. The boys are going to take us a bit more up, maybe 40 - 70 pips before the big drop 2moro. I've closed my position for 104 pips. Enjoy the evening session, or morning if you are in Asia ;-)
@pawpaw1000 on Twitter
  • #246,296
  • Aug 17, 2010 1:35pm Aug 17, 2010 1:35pm
Quoting pawpaw1000
Hey boys, Agree with you all that we are propably looking south but don't reckon Asia is going to break us down. The boys are going to take us a bit more up, maybe 40 - 70 pips before the big drop 2moro. I've closed my position for 104 pips. Enjoy the evening session, or morning if you are in Asia ;-)


we are at the same time zone........ I also expect drop down tomorrow
  • #246,297
  • Aug 17, 2010 1:38pm Aug 17, 2010 1:38pm
Quoting pipgame


we are at the same time zone........ I also expect drop down tomorrow
see ya for LO then ;-) oh, can't! got training, but will catch ya at around 12 is, maybe put in a cheeky one before LO if RR is looking good!

ciau
@pawpaw1000 on Twitter
  • #246,298
  • Aug 17, 2010 1:40pm Aug 17, 2010 1:40pm
@ 4xStar,

do you see any similarity between where we are now and that 1.5900 level last week?
Hear the music before the song is over ...
  • #246,299
  • Aug 17, 2010 2:01pm Aug 17, 2010 2:01pm
evening guys, is there any reason why the pound dropped today? Euro has barely dropped, so why has pound dropped, considering a few days ago we were thinking its done its retracement and will be back to 1.6000 or at least 1.57...
  • #246,300
  • Aug 17, 2010 2:17pm Aug 17, 2010 2:17pm
Quoting Magix
I think this is a great day.

Success in forex only comes with consistency....
This will be framed as my Desiderada. You are so good, Magix, to us newts. I feel like going for a good splash around now. Thankyou. All good to you and family.
All systems of divination, like music itself,work through patterns.
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