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Cable Update (GBPUSD)

  • #248,921
  • Aug 26, 2010 5:45am Aug 26, 2010 5:45am
Quoting ams
I am hoping, targetting atleast 5620 for today if we don't retest 546xx, let see.. Break of 552xx will lead the way.



ta
ams
patience is the key

if 5522 holds, we will definitely get 5997. I am just waiting for a clearer entry.

plus I made only 30 posts so far, no harm in reading them, to get an idea on what my previous trade was and why I took it.
  • #248,922
  • Aug 26, 2010 5:48am Aug 26, 2010 5:48am
Quoting hindustani
patience is the key
I agree.

Quote
if 5522 holds, we will definitely get 5997. I am just waiting for a clearer entry.

You sure about that?

That is bold statement.

If 1.5522 holds how long will it take to get to 1.60?
  • #248,923
  • Aug 26, 2010 5:52am Aug 26, 2010 5:52am
Quoting Astroman
I agree.



You sure about that?

That is bold statement.

If 1.5522 holds how long will it take to get to 1.60?
Nothing in forex is predictable....... Nothing at all, except it may go or or it may go down
  • #248,924
  • Aug 26, 2010 5:54am Aug 26, 2010 5:54am
Quoting Astroman
I agree.



You sure about that?

That is bold statement.

If 1.5522 holds how long will it take to get to 1.60?
few things here, one as I posted earlier we are still in daily down trend, I consider this as merely a retrace; two is that if 5522 holds then we could head up to 5997, but if it does not hold, then we are going back to 5380

so its all about what cable has in store for us now, i am just waitng for the 4 hour over bought situation to clear up a bit
  • #248,925
  • Aug 26, 2010 5:56am Aug 26, 2010 5:56am
Quoting AdrianHNV
Nothing in forex is predictable....... Nothing at all, except it may go or or it may go down
one thing about forex is very predictable, and it always has been that way ........ it moves
  • #248,926
  • Aug 26, 2010 5:57am Aug 26, 2010 5:57am
Quoting hindustani
few things here, one as I posted earlier we are still in daily down trend, I consider this as merely a retrace; two is that if 5522 holds then we could head up to 5997, but if it does not hold, then we are going back to 5380

so its all about what cable has in store for us now, i am just waitng for the 4 hour over bought situation to clear up a bit
look at daily bro..short short what...make it simple...

good luck

g
  • #248,927
  • Aug 26, 2010 5:57am Aug 26, 2010 5:57am
trying short here 1.5530
16 pip stop
  • #248,928
  • Aug 26, 2010 5:59am Aug 26, 2010 5:59am
Quoting grashid
look at daily bro..short short what...make it simple...

good luck

g
interesting view, can you explain better brother
  • #248,929
  • Aug 26, 2010 6:05am Aug 26, 2010 6:05am
Hello all,

I've been lurking here for a while and finally felt the need to post a reply to someone today but didn't feel that was appropriate until I had introduced myself and been allowed entrance to the asylum.

I've been trading for 3 years, working on putting in my 10,000 hours as Cloggie refers to it. The first 2 years were a rollercoaster experience that will be familiar to many - a rollercoaster that takes you to exciting highs but always delivers you back down to where you got on, minus your entry fee of course. I paid for the ride a few times.

I've been consistently profitable the last 6 months or so. I trade using a mixture of S/R, trendlines, fibs and Elliot wave. I have never used an indicator successfully, not even MA. I did, for laughs, setup Docs excellently bizarre compression EMA scheme and I'm sure this has a lot to be said for it, if I knew how to use it.

I might post some of my analysis for critical destruction in due course, if I feel brave enough.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #248,930
  • Aug 26, 2010 6:06am Aug 26, 2010 6:06am
Quoting AdrianHNV
Nothing in forex is predictable....... Nothing at all, except it may go or or it may go down
Or it may do neither...
Enter Signature
  • #248,931
  • Aug 26, 2010 6:08am Aug 26, 2010 6:08am
alright, daily candle has long wick, but my stochastic is up...

so any bright ideas?
Enter Signature
  • #248,932
  • Aug 26, 2010 6:10am Aug 26, 2010 6:10am
Quoting subterfuge
trying short here 1.5530
16 pip stop
out here for +20
  • #248,933
  • Aug 26, 2010 6:10am Aug 26, 2010 6:10am
Quoting vosterfxandy
alright, daily candle has long wick, but my stochastic is up...

so any bright ideas?
yes, do what you feel is best for you, be your own guide.
  • #248,934
  • Aug 26, 2010 6:11am Aug 26, 2010 6:11am
Quoting vosterfxandy
alright, daily candle has long wick, but my stochastic is up...

so any bright ideas?
From what I see on my Daily candle ...I would not necessarily ignore it but I wouldn't enter a trade based on that alone.
  • #248,935
  • Aug 26, 2010 6:13am Aug 26, 2010 6:13am
A simple explanation for those who trade 'Cable'

http://www.forexfactory.com/news.php...91#post3978524

Well worth reading, me thinks............
  • #248,936
  • Aug 26, 2010 6:14am Aug 26, 2010 6:14am
Quoting hindustani
yes, do what you feel is best for you, be your own guide.
i don't think the market cares for one's feelings. It doesn't give a shit.
Enter Signature
  • #248,937
  • Aug 26, 2010 6:14am Aug 26, 2010 6:14am
Quoting Astroman
From what I see on my Daily candle ...I would not necessarily ignore it but I wouldn't enter a trade based on that alone.
yeah exactly, and this is the dilemma at hand.
Enter Signature
  • #248,938
  • Aug 26, 2010 6:15am Aug 26, 2010 6:15am
Quoting subterfuge
out here for +20
Congrats sometimes little profit is better than loooong no profit..
  • #248,939
  • Aug 26, 2010 6:16am Aug 26, 2010 6:16am
Quoting vosterfxandy
alright, daily candle has long wick, but my stochastic is up...

so any bright ideas?
This is just personal opinion based on experience. I would trust the candle wick more than the stochastic. Usually what I have seen is that the stochastic turns to conform with the direction implied by the wick.
  • #248,940
  • Aug 26, 2010 6:21am Aug 26, 2010 6:21am
Quoting vosterfxandy
i don't think the market cares for one's feelings. It doesn't give a shit.
why do you need shit when you can collect pips ? anyways my point was do what your chart tells you to do, that works better
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