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Cable Update (GBPUSD)

  • #247,601
  • Aug 20, 2010 7:47am Aug 20, 2010 7:47am
Quoting Piotr1
It is hard to find better place to go short (IMHO)
You got that one right!
******************* I'd rather make money than be right.
  • #247,602
  • Aug 20, 2010 7:47am Aug 20, 2010 7:47am
Hey, the 3 inside down at 15min worked again! Thanks Cloggie and Wormie.

Hope I'm getting it right.
  • #247,603
  • Aug 20, 2010 7:47am Aug 20, 2010 7:47am
got in short at 55000 with small lot and got s/l to be already!

not taking any chances with her today but she is tempting in her lil red number today...

STOPPED AT BE...>>>
@pawpaw1000 on Twitter
  • #247,604
  • Aug 20, 2010 7:49am Aug 20, 2010 7:49am
Quoting trending
Hey, the 3 inside down at 15min worked again! Thanks Cloggie and Wormie.

Hope I'm getting it right.
hows that? you talking about the 3 inside bars before the drop?

Is that a trading signal or pattern rather?
@pawpaw1000 on Twitter
  • #247,605
  • Aug 20, 2010 7:50am Aug 20, 2010 7:50am
Quoting ikdenk
Instead of a stoploss you open a trade in the opposite direction. You need a non-US broker.

This will give you time to ponder/act. Your loss is limited.

You add to the trades in the direction of the price action, either the original direction or the new one. Only two options!

A hedge EA would help, with profit set at BE or a small gain.

There are many more variations and patience helps, but instant losses and brokers chasing stop losses can be avoided.
Oh .. I see. I thought you might have meant buying the UCad to hedge the GU, that sort of thing. Yeah, in US probably need 2 separate accounts, many people have those. Problem is if you don't manage it properly you could get whipsawed both ways...
******************* I'd rather make money than be right.
  • #247,606
  • Aug 20, 2010 7:51am Aug 20, 2010 7:51am
The pair is still in downtrend channel in 4H TF... I think, short is wiser at the moment, and I am looking for a good entry for short to join the channel..
In the second thought, if the pair can manage to shoot 1.5540, I can always change my mind and enter long instead...

Sentiment: Bearish
Signal: 4H TF : Downtrend Channel, BB, RSI
  • #247,607
  • Aug 20, 2010 7:52am Aug 20, 2010 7:52am
Quoting AdrianHNV
Well we Bees have too let you Lions get a few pips each day otherwise you wouldn't come out too play
got out green before she dumper her .........again
  • #247,608
  • Aug 20, 2010 7:54am Aug 20, 2010 7:54am
Quoting HowieTrader
The pair is still in downtrend channel in 4H TF... I think, short is wiser at the moment, and I am looking for a good entry for short to join the channel..
In the second thought, if the pair can manage to shoot 1.5540, I can always change my mind and enter long instead...

Sentiment: Bearish
Signal: 4H TF : Downtrend Channel, BB, RSI
Its forming a H&S on lower TF. I'll take it on break and target S2 but the TLs underneath are a concern.
  • #247,609
  • Aug 20, 2010 7:55am Aug 20, 2010 7:55am
Quoting ikdenk
Instead of a stoploss you open a trade in the opposite direction. You need a non-US broker.

This will give you time to ponder/act. Your loss is limited.

You add to the trades in the direction of the price action, either the original direction or the new one. Only two options!

A hedge EA would help, with profit set at BE or a small gain.

There are many more variations and patience helps, but instant losses and brokers chasing stop losses can be avoided.

Now why would you do that? Pay double the spread and commissions because you are not sure where it is going? Hedging a correlated currency or commodity I can accept but opening two trades in opposite direction on the same pair is not hedging.
  • #247,610
  • Aug 20, 2010 7:55am Aug 20, 2010 7:55am
Quoting 4xStar
Oh .. I see. I thought you might have meant buying the UCad to hedge the GU, that sort of thing. Yeah, in US probably need 2 separate accounts, many people have those. Problem is if you don't manage it properly you could get whipsawed both ways...

I don't know why but I can do hedging on FXDD.
  • #247,611
  • Aug 20, 2010 7:55am Aug 20, 2010 7:55am
Quoting joemiami
...... going long at 5555

5 min bullish bars showing strong volume
hi,

kindly advise me on how to use the volume indicator to make judgements of market strength and/or direction. thanks
  • #247,612
  • Aug 20, 2010 7:57am Aug 20, 2010 7:57am
Quoting lechidi
hi,

kindly advise me on how to use the volume indicator to make judgements of market strength and/or direction. thanks

You can't in FX, there is no centralised market, only in futures.
  • #247,613
  • Aug 20, 2010 7:57am Aug 20, 2010 7:57am
Its fun sitting here watchning if the 4H candle will close above or below 200 EMA. If over I guess we could go up again.

/Jonas
  • #247,614
  • Aug 20, 2010 8:00am Aug 20, 2010 8:00am
And now to the question. Have we really broken this support if the close is above? Isn't that a fake in that case?
  • #247,615
  • Aug 20, 2010 8:00am Aug 20, 2010 8:00am
Quoting LostMyShirt
Anybody going long from here?? I like the PA.. My entry 1.5525... Risking 25 pips and taking small lots..
Stopped out of this trade.. Lost $53 on that... Entered long again at 1.5497... Still think there is enough strength in this pair to move up from here..

Moderators are holding my posting?? because I am new, I guess
  • #247,616
  • Aug 20, 2010 8:03am Aug 20, 2010 8:03am
Quoting forexlion
got out green before she dumper her .........again

Good stuff.............. Maybe you made enough to buy one of those 'shorts' you need!!!!!!!!!!!
  • #247,617
  • Aug 20, 2010 8:05am Aug 20, 2010 8:05am
Quoting ikdenk
Instead of a stoploss you open a trade in the opposite direction. You need a non-US broker.

This will give you time to ponder/act. Your loss is limited.

You add to the trades in the direction of the price action, either the original direction or the new one. Only two options!

A hedge EA would help, with profit set at BE or a small gain.

There are many more variations and patience helps, but instant losses and brokers chasing stop losses can be avoided.

What is the difference if you just close your position with stop loss and go double on your next entry?
  • #247,618
  • Aug 20, 2010 8:07am Aug 20, 2010 8:07am
Quoting Piotr1
What is the difference if you just close your position with stop loss and go double on your next entry?

That's Martingale, just gambling and not trading. It just blows up your account in a more spectacular fashion.
  • #247,619
  • Aug 20, 2010 8:08am Aug 20, 2010 8:08am
Quoting Piotr1
What is the difference if you just close your position with stop loss and go double on your next entry?
You loose money fast... Ive tried... Done all the mistakes...
  • #247,620
  • Aug 20, 2010 8:08am Aug 20, 2010 8:08am
Quoting cloggie
Now why would you do that? Pay double the spread and commissions because you are not sure where it is going? Hedging a correlated currency or commodity I can accept but opening two trades in opposite direction on the same pair is not hedging.
It is only for us mere mortals, that do not know how to trade (yet), but are trying to learn from you and some others here.

I don't like paying spread, but a stoploss is terminal.

We need all the tools we can muster to beat the brokers/market.

Het allerbeste en bedankt voor al je advies.
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