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Cable Update (GBPUSD)

  • #247,301
  • Aug 19, 2010 3:44pm Aug 19, 2010 3:44pm
Quoting TauTrader
Good day to you,

I believe congratulations to be in order. Very well done. Now just repeat what you have achieved, next week again. Focus - apply your mind. Anything is indeed possible.

Stick to your gameplan without fail. And sooner, rather than later:

http://a.imageshack.us/img413/5127/hubbahubba.gif
Congrats!

Regards

Thanks Tau, really appreciate it! Its mostly because of you guys and especially cloggs who took me under his wing...

see at LO
@pawpaw1000 on Twitter
  • #247,302
  • Aug 19, 2010 3:45pm Aug 19, 2010 3:45pm
Quoting USD-Bear
Obvious movement is towards 1.5510
I'm seeing some relative strength GBP versus USD
Latest up move of USD compared to earlier g/u relations would lead to expect GU around 1.5530 but it currently is 1.5595
USD-Index indicates renewed weakness, that being the case I think the obvious will not presented, we will go north and eventually breaking 1.57
Going long @ 1.5595 SL @ 1.549 and target open
My first plan was aiming for 1.5420, but to be honnest yesterday reaction at 1.5510 did change my feeling about it. I was bearish now I'm flat. But seems that over time bulls are prooving their point at 50% corretion.

I willl leave this friday go since I'm out of a decent plan, but if I feel like gambling whit a small lot, bulls are teasing me right now....

Side line for me now!
Wish you luck on this one!

Later!
"Flip that coin!"
  • #247,303
  • Aug 19, 2010 3:45pm Aug 19, 2010 3:45pm
Quoting Scipionz
Its all about diciplne (having a plan, respect it) and creates habits (experience).

A pro is nothing more then a consistant winner in/over time.
Witch not mean he's always a winner/every day.

Wish you the best!
Thanks mate! was looking for a story of someone who was working, learnt forex and became pro after how many ever years...

Anyone know?

But thanks, I had a real break through this week and really feel enlightened!

See you all at LO
@pawpaw1000 on Twitter
  • #247,304
  • Aug 19, 2010 3:46pm Aug 19, 2010 3:46pm
Quoting Nate04
According to the my chart, the compression is wound up tighter than an 8 day clock currently... I believe your right, it can't stay that way much longer. Now its just a matter of waiting for the break.
yes, of course the break may not be what we expect and we could just wander in and out of this range. Lots of emotion in the market at the moment, so think it will break one way or the other. personally i wont trade the break, i will wait for a break and hopefully a retrace will allow me to get a good entry near the breakout zone. im always wary of false breaks, so if it breaks and strarts retracing right away i will be suspicious and would look to go in the opposite direction.

A pin bar after a retrace on the 1hr, 4hr or daily would be my entry trigger.

will likely be drafting a new plan over the weekend after the market does more weird and wonderful things....
  • #247,305
  • Aug 19, 2010 3:58pm Aug 19, 2010 3:58pm
Quoting pawpaw1000
Thanks mate! was looking for a story of someone who was working, learnt forex and became pro after how many ever years...

Anyone know?

But thanks, I had a real break through this week and really feel enlightened!

See you all at LO
Well I wont say I am exemple but I was working in a direct brokerage firm/bank and been fired for giving a tips to a investor. So I took my last chek and insurance and started learn fx.

Lot of pain, lot of doubts. Then after time I did found my way of doing things instead of listening to others. Sure basic is basic, but you need to create you habits, your visions of it and what you want from it.

It took me around 4 to 5 years to get consistant profit out if it.

Now I don't doubt a second about my futur. I know that all I have to do, is keep my head cold and clear, make a plan, and react accordingly to it facing price action.

Aiming for only 2% a day even less, stress ain't that bad whit time.

Take care!
"Flip that coin!"
  • #247,306
  • Aug 19, 2010 4:42pm Aug 19, 2010 4:42pm
hi people

I am looking for some people to do a website project to help people trade. By help I mean group trade calls and mentoring. This is not a commercial project so there is no profit, I just have a sponsor for the design, hosting and running cost so no profit but pure education in forex.

So if you have successful trading knowledge and willing to help out please contact me.

Again, this is not a commercial thing so do not ask for money or payments from the users of the project because this is free all the way round.

Adrian
  • #247,307
  • Edited 5:31pm Aug 19, 2010 5:17pm | Edited 5:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu_m15_190810.jpg Size: 118 KB


A little bit more successful on GU today and I got a nice little short just outside the supply zone marked off and I am still in it, playing the range which seems to be turning into a wedge on the h4. Got filled nicely to the pip and cashed in my first runner on an auto tp of 3:1 at 1.5604. Next tp @1.5525 and a third runner which I will use to build a position for the next leg down. Of course, we could be going back up again

Good luck with your trades people. Peace out

P.S. I have moved my SL just above the orange line above entry @1.5676
  • #247,308
  • Aug 19, 2010 7:19pm Aug 19, 2010 7:19pm
Those are the one we like! No drawdown!
Nice trade!

Quoting bbakker
Attachment

A little bit more successful on GU today and I got a nice little short just outside the supply zone marked off and I am still in it, playing the range which seems to be turning into a wedge on the h4. Got filled nicely to the pip and cashed in my first runner on an auto tp of 3:1 at 1.5604. Next tp @1.5525 and a third runner which I will use to build a position for the next leg down. Of course, we could be going back up again

Good luck with your trades people. Peace out

P.S. I have moved my SL just above...
"Flip that coin!"
  • #247,309
  • Aug 19, 2010 7:46pm Aug 19, 2010 7:46pm
Quoting Scipionz
Those are the one we like! No drawdown!
Nice trade!
They're the best
  • #247,310
  • Aug 19, 2010 8:32pm Aug 19, 2010 8:32pm
August 12th:Originally Posted by Duce http://cdn.forexfactory.com/images/buttons/viewpost.gif
we were here for 4 days last time. http://cdn.forexfactory.com/images/s...yim/sleepy.gif


Quoting bbakker
Someone looked then!

Don't forget to read the small print, where it says "past performance is no guide to future performance" LOL!
7 days now...and counting.....
Si vis pacem, para bellum.
  • #247,311
  • Aug 19, 2010 9:01pm Aug 19, 2010 9:01pm
Quoting Duce
August 12th:Originally Posted by Duce http://cdn.forexfactory.com/images/buttons/viewpost.gif
we were here for 4 days last time. http://cdn.forexfactory.com/images/s...yim/sleepy.gif

7 days now...and counting.....
LOL! Freaky Friday tomorrow though, no news but options expiring. Maybe that will give it a kick to continue its move down.
  • #247,312
  • Aug 19, 2010 11:00pm Aug 19, 2010 11:00pm
Good morning ppl, hope u have a great day.
  • #247,313
  • Aug 19, 2010 11:09pm Aug 19, 2010 11:09pm
Good day to you,

For those looking at boxes - the following 3 are of importance in terms of levels. I have numbered and referenced:

1) Recent high @ 1.5696 and recent low @ 1.5507 as the outside area. Watch these for fake-outs, as we have important levels just outside each of these as well. Above the recent highest high, there is the wednesday high @ 1.5685 - similarely, below the recent lowest low, there is the wednesday low @ 1.5496.

2) Narrowing down, the top of the box named (2) - is formed by the weekly open @ 1.5606. The bottom represented by the same recent low @ 1.5507.

3) Narrowing down some more, the current little range is protected on the sides by Wednesday close @ 1.5594 on the topside, and the low of last week @ 1.5559 at the bottom.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 36 KB
  • #247,314
  • Aug 19, 2010 11:17pm Aug 19, 2010 11:17pm
dedicated to Tau

Inserted Video
  • #247,315
  • Aug 19, 2010 11:27pm Aug 19, 2010 11:27pm
Good day to you,

Zooming out a little bit more, you will see the range clearly.

1) Top of the bigger range formed by the Monthly open @ 1.5709 and bottom by the Wednesday low @ 1.5493

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 28 KB
  • #247,316
  • Aug 19, 2010 11:34pm Aug 19, 2010 11:34pm
Quoting TauTrader
Good day to you,

Zooming out a little bit more, you will see the range clearly.

1) Top of the bigger range formed by the Monthly open @ 1.5709 and bottom by the Wednesday low @ 1.5493

Regards
Hey man i sound pretty stupid already, can you just explain to me wht the box method is about, really i dont want to use it but i am getting baffeld by it, is it a breakout or are you looking for S&R to identify possible double tops and bottoms???
Because both of them are supported by the comments i see, i really just want to know wht they are talking about haha

Thanks.
  • #247,317
  • Aug 19, 2010 11:35pm Aug 19, 2010 11:35pm
Quoting forexlion
dedicated to Tau

http://www.youtube.com/watch?v=NtcOh22JtgA
Good day to you,

Somehow, I do not think that Tau ( in your context) is a good thing? But we go back to a previous discussion...

Tau - in Tswana - means lion. So - again, it seems we are the same.http://a.imageshack.us/img576/6291/talking.gif

Now do not make me come after you!http://a.imageshack.us/img830/2559/50856991.gif

Wish you all the best

Regards
  • #247,318
  • Aug 19, 2010 11:44pm Aug 19, 2010 11:44pm
Quoting CoffeeDrinke
Hey man i sound pretty stupid already, can you just explain to me wht the box method is about, really i dont want to use it but i am getting baffeld by it, is it a breakout or are you looking for S&R to identify possible double tops and bottoms???
Because both of them are supported by the comments i see, i really just want to know wht they are talking about haha

Thanks.
Good day to you,

It is not a method, per se - some traders use these "boxes" to draw focus on certain areas of support and resistance / or range. Just a visual aid to show areas of interest in terms of possible breakout.

Cloggie has suggested that this method can be applied to assist in focussing on areas of interest - whilst learning PA.

Go to 4xStar's posts - she has compiled an information sheet about this - there you will find all the answers.

All the best

Regards
  • #247,319
  • Aug 19, 2010 11:45pm Aug 19, 2010 11:45pm
Trapped in the range, might well enjoy the pips.

Targeting the H4 200EMA on this current play as it seems to be support. From here, I guess best to just see if London wants to challange the H1 200EMA again.

Hulls long term and short term are saying we are still in the slide, but until I see a bust either way...Ima gunna play the quick cash.

Great observation on the 200s by the Lion...Keep on keeping on brother!

Blue lines was the H4 and longer term trend channel...if we leak back in this, might be a great time to drop your shorts!
Attached Image (click to enlarge)
Click to Enlarge Name: range.jpg Size: 93 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #247,320
  • Aug 19, 2010 11:48pm Aug 19, 2010 11:48pm
Quoting TauTrader
Good day to you,

It is not a method, per se - some traders use these "boxes" to draw focus on certain areas of support and resistance / or range. Just a visual aid to show areas of interest in terms of possible breakout.
mooi man, so basically if i just draw S&R at tops and bottoms ill have the 'box', thts all i wanted to know ty man.

Irony was the thinking behind this box idea, inside or outside the box???
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