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Cable Update (GBPUSD)

  • #249,041
  • Aug 26, 2010 1:46pm Aug 26, 2010 1:46pm
Cloggie, Adrian - thank you very much
  • #249,042
  • Aug 26, 2010 2:13pm Aug 26, 2010 2:13pm
Quoting mouse09
Cloggie, Adrian - thank you very much
Your very welcome
  • #249,043
  • Aug 26, 2010 2:31pm Aug 26, 2010 2:31pm
Evening.
Worthy to take on it a long?Or wait?
  • #249,044
  • Aug 26, 2010 2:33pm Aug 26, 2010 2:33pm
Correction getting the edge here guys. All bets are off on shorts if you ask me.

Jim
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  • #249,045
  • Aug 26, 2010 2:40pm Aug 26, 2010 2:40pm
I see it clearly then according to these, that worthy long now?
  • #249,046
  • Aug 26, 2010 2:40pm Aug 26, 2010 2:40pm
The simplest solution IMO is to have multiple trades, 3 is ideal. Take quick profits on first one, deeper profits on second & let the 3rd one run.
3 trades together should total the risk amount you now use for a single trade.
This way you almost always make something, worst case break even on 2 trades and best case you enjoy the full ride on 1/3 position.

BBaker is trading this way now & he likes it.


Quoting mouse09
Guys, help me please..

For example, yesterday I set my order for example: buy

When I woke up in the morning, I have seen some + pips at this order.
And I said myself: "it's better to wait my t/p than take some + pips"

After 4-8 hours I discovered that my order was in big minus..


SO, a question:

how do you think: whether I followed my plan or I just wanted to be right?
******************* I'd rather make money than be right.
  • #249,047
  • Aug 26, 2010 2:53pm Aug 26, 2010 2:53pm
Quoting cloggie
Today was not the easiest of days to trade, but you stuck to your plan and that is just as important as making money. You would have been equally upset if you would have closed your trade for a few pips and missed 200 in the process.

Now you know at least that your plan did not work and you try to figure out why not.
Hey Cloggs,

Today was a terrible trading day in my opinion but hey, I'm sure there are experts who made alot of cash today...

Quick question cloggs, what do you see happening here? I'll show mine if you show yours?

I see on H4 that we didn't take out the last swing high which means stil lower Highs. At the same time I see we are struggling to go higher even though we are in the range of last week which should give us a nice road to my top of about 5680, but we didn't go...

I reckon there is still alot of selling pressure but we are at a crossroads and only PA can show the way now.

Or does the magic Cloggy have something up his sleeve

Hope you had a good day mate!

EDIT: Like to add that the lower TF are looking bullish with h1 looking to close engulfing bull and h1 bouncing nicely of 25ma

AND DOLLAR TAKING A BEATING DROPPING BELOW 83!!! Might look long from my support at 5510

AND Asia has been very active of lately!
@pawpaw1000 on Twitter
  • #249,048
  • Aug 26, 2010 3:00pm Aug 26, 2010 3:00pm
Quoting Mészike
Evening.
Worthy to take on it a long?Or wait?
i m not looking any long from here buddy !
  • #249,049
  • Aug 26, 2010 3:51pm Aug 26, 2010 3:51pm
Long @ 1.5529
SL @ 1.536
Target open

H1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #249,050
  • Aug 26, 2010 3:55pm Aug 26, 2010 3:55pm
Quoting USD-Bear
Long @ 1.5529
SL @ 1.536
Target open

H1:
Attachment
USD-Bear - Quick question for you... Are you basing your long entry on the resistance at R2 and that we didn't break the most recent swing-low? Your SL is pretty low... is there something else that you're looking at as well?

Thanks for the heads up.
What we obtain too cheap, we esteem too lightly.
  • #249,051
  • Aug 26, 2010 3:55pm Aug 26, 2010 3:55pm
Quoting USD-Bear
Long @ 1.5529
SL @ 1.536
Target open

H1:
Attachment
just entered the same trade!

5529
sl 5496
t/p 5680

USDINX dropping, plus all the other things I said above...

Asia is very active lately so am banking on a nice move up...
@pawpaw1000 on Twitter
  • #249,052
  • Edited 4:32pm Aug 26, 2010 4:08pm | Edited 4:32pm
Quoting Capn79
USD-Bear - Quick question for you... Are you basing your long entry on the resistance at R2 and that we didn't break the most recent swing-low? Your SL is pretty low... is there something else that you're looking at as well?

Thanks for the heads up.
For in case he has left, he usually trades longer term so his s/l will be large but his t/p might be at 5800 or something along those lines...

Btw bear, what are your reasons for entering? I am seeing higher highs and lows on the H1 which seems to be one of the reasons you entered. I put my s/l below the last swing low as I think if we do go below that we are headed to the lows and maybe lower... Therefore no use in me putting more pips at risk...

EDIT: Seems like USDINX might go to 82.00 as I see this as the next support... ALSO h&s on h5...
@pawpaw1000 on Twitter
  • #249,053
  • Aug 26, 2010 4:18pm Aug 26, 2010 4:18pm
Quoting fxoxford
look like im on my way, still long at 1.5390, t/p 1.5715, s/l 1.5300. good luck to all
update on this trade, close have my position at 1.5578, still holding long at 1.5390, s/l at BE, t/p still at 1.5715 at the moment.
  • #249,054
  • Aug 26, 2010 4:19pm Aug 26, 2010 4:19pm
Quoting fxoxford
update on this trade, close have my position at 1.5578, still holding long at 1.5390, s/l at BE, t/p still at 1.5715 at the moment.
any insights as to what is going on here at the moment?

I've given my analyses but want to compare
@pawpaw1000 on Twitter
  • #249,055
  • Aug 26, 2010 4:21pm Aug 26, 2010 4:21pm
Quoting Capn79
USD-Bear - Quick question for you... Are you basing your long entry on the resistance at R2 and that we didn't break the most recent swing-low? Your SL is pretty low... is there something else that you're looking at as well?

Thanks for the heads up.
No there are a few fundamental arguments:
1. I think the world starts to recognize that a strong currency (USD) attached to the weakest economy with the lowest intrest rates can't hold on forever just by the "reserve currency" argument.
2. Yen is used more an alternative.
3. Although most currencies are also weak, GB imo uses right policy and is able to react on developments (a fact eurozone is not).

On the technical side:
1. The story around USD-Index (see previous messages)
2. PA (see my chart)
3. The move from 1.4230 to 1.60 not a coincidence, we've got a healthy retrace from that building a stronger base

The low SL coinsides my high confidence, this is a long term position (nothing for daytraders) and I hope to stay in it for a very long time. The SL level covers all support levels which are relevant for me (mainly the yellow lines). My view wouldn't change with a 100 pip down move.
Don't be a hero. Don't have an ego. Always question yourself
  • #249,056
  • Aug 26, 2010 4:39pm Aug 26, 2010 4:39pm
With this P/A that may be pushing it. I will stick with 5620 area to finish the week.

Jim

Quoting pawpaw1000
just entered the same trade!

5529
sl 5496
t/p 5680

USDINX dropping, plus all the other things I said above...

Asia is very active lately so am banking on a nice move up...
  • #249,057
  • Aug 26, 2010 4:45pm Aug 26, 2010 4:45pm
getting ready for this nice down move
  • #249,058
  • Aug 26, 2010 4:47pm Aug 26, 2010 4:47pm
Quoting alex1976
getting ready for this nice down move
Explain
  • #249,059
  • Aug 26, 2010 4:49pm Aug 26, 2010 4:49pm
Quoting Nene
With this P/A that may be pushing it. I will stick with 5620 area to finish the week.

Jim
Thanks jim...

I agree with you but for now the most important is my s/l... If my trade makes it to LO i will reassess then... for now I am thinking we could see 5660 - 5680 by 2moro evening...

thanks again,

jacques

PS at this rate it doesn't seem like it will make it but we'll see...
@pawpaw1000 on Twitter
  • #249,060
  • Aug 26, 2010 4:54pm Aug 26, 2010 4:54pm
Quoting pawpaw1000
any insights as to what is going on here at the moment?

I've given my analyses but want to compare
yeah, the market sucks at the moment lol, this is why im a swing trader don't have to be in front of my computer to watch this BS. good luck to all
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