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Cable Update (GBPUSD)

  • #250,061
  • Aug 31, 2010 7:20am Aug 31, 2010 7:20am
Here's USDX update. Are we trapped?
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #250,062
  • Aug 31, 2010 7:21am Aug 31, 2010 7:21am
Quoting TommyPips
The previous 2 candles on the 15 min chart were approx 20 pips each. To me this suggests further downward momentum.

Just my thoughts - could be wrong. It's struggling to meet higher prices.

I'm only looking candle patterns and price.

I want to go short again....lol

Reluctant to burn fingers though as I'm still learning !!
Patience is a virtue, especially in Forex trading! Set your price entry through your chart analysis and if it doesn't reach entry, don't jump in.

Yes, this does mean sometimes I miss trades and nearly missed the trade on GU as initially it was 3 pips short of my chosen entry before dropping, but it came back later in the day and filled my order, just like I planned it.

http://www.forexfactory.com/showthre...89#post3977889

There are other times I will have missed it and off it goes in the direction I thought it would. However, I am not going to beat myself up because I missed a great trade by 2 or 3 pips and off it went to make 200 pips. There are always plenty of opportunities that will present itself to us traders every day. Move on, don't reflect on "what ifs" and "buts" because it is history. The opportunity has gone and if I were to jump in it would NOT meet my strict rules for entry that I have set in my Trading Plan and therefore I would not be following my plan if I were to jump in!

Time for some lunch and a bit of shopping. See you all later!
  • #250,063
  • Aug 31, 2010 7:24am Aug 31, 2010 7:24am
Quoting ikdenk
Horses for courses.

I am a gridtrader, only take losses when absolutely necessary. Not afraid to take them though: closed two losing audusd trades today to provide you with liquidity, lol!

There is a place for hedging, nothing is black and white here.

Het allerbeste voor je valutahandel!
  • #250,064
  • Aug 31, 2010 7:32am Aug 31, 2010 7:32am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
updated
http://cdn.forexfactory.com/attachme...1&d=1283237877 http://cdn.forexfactory.com/attachme...1&d=1283237877
Target met
Attached Image (click to enlarge)
Click to Enlarge Name: target met.jpg Size: 73 KB
  • #250,065
  • Aug 31, 2010 7:35am Aug 31, 2010 7:35am
Quoting bbakker
Patience is a virtue, especially in Forex trading! Set your price entry through your chart analysis and if it doesn't reach entry, don't jump in.

Yes, this does mean sometimes I miss trades and nearly missed the trade on GU as initially it was 3 pips short of my chosen entry before dropping, but it came back later in the day and filled my order, just like I planned it.

http://www.forexfactory.com/showthre...89#post3977889

!

Time for some lunch and a bit of shopping. See you all later!
I love it when a plan comes together!

Enjoy your lunch BB.
  • #250,066
  • Aug 31, 2010 7:42am Aug 31, 2010 7:42am
any one have the idea y gold is going mad ???
  • #250,067
  • Aug 31, 2010 7:48am Aug 31, 2010 7:48am
Quoting pawpaw1000
well boys, I might be superstitious or stupid but I don't feel comfortable with this move and won't be jumping on the train with you boys... I really wish I had gotten on just after LO but wasn't here!

Not gonna get good RR from this point down... Will see if I can catch something this evening after London Close...
of course not a good RR if you open a fresh short position here...a different story if you were short higher up...
however I would equally caution going long here.
Hear the music before the song is over ...
  • #250,068
  • Aug 31, 2010 7:52am Aug 31, 2010 7:52am
Bear trap?!?
  • #250,069
  • Aug 31, 2010 7:56am Aug 31, 2010 7:56am
Last 2 bars on 4h USDX makes tweezers on top and been sold agressively at the end keeping it well into down channel! Wide wick.... closing in 3.5 min.
"Flip that coin!"
  • #250,070
  • Aug 31, 2010 8:19am Aug 31, 2010 8:19am
Quoting Scipionz
Last 2 bars on 4h USDX makes tweezers on top and been sold agressively at the end keeping it well into down channel! Wide wick.... closing in 3.5 min.
Where do you guys get your live USDX charts from ??
  • #250,071
  • Aug 31, 2010 8:24am Aug 31, 2010 8:24am
Quoting GlobalMacro
USDX is only 11.9% GBP...

something to think about!

......Nevertheless it seems to have a direct inverse correlation; try super-imposing a dx chart to a cable chart of the same tf.
  • #250,072
  • Aug 31, 2010 8:25am Aug 31, 2010 8:25am
Let buying from 5383
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #250,073
  • Aug 31, 2010 8:26am Aug 31, 2010 8:26am
Quoting zameer
any one have the idea y gold is going mad ???
Gold going up in dour economic times when the currency printing presses are working overtime means flight to safety. Gold is not going mad at all, it is just working its way up again to reach the all-time high.

It has been on a steady incline since the end of July and nearing the all-time high at 1265. I would not like to go long on this when it is near its all-time high, but considering the current economic conditions, I would not be surprised if it broke through the highs.
  • #250,074
  • Aug 31, 2010 8:39am Aug 31, 2010 8:39am
Quoting Dayboy001
Where do you guys get your live USDX charts from ??
http://www.liteforex.org/fr/?uid=900...FZJ95QodW0AUmw

Look into LFX symbol.
Later!
"Flip that coin!"
  • #250,075
  • Aug 31, 2010 8:41am Aug 31, 2010 8:41am
Quoting Precap2
Are we trapped?
Not as trapped as the Chile miners.
  • #250,076
  • Aug 31, 2010 8:41am Aug 31, 2010 8:41am
Quoting TommyPips
I love it when a plan comes together!
Heh, you seen the latest A-Team film?
  • #250,077
  • Aug 31, 2010 8:44am Aug 31, 2010 8:44am
Quoting bbakker
Gold going up in dour economic times when the currency printing presses are working overtime means flight to safety. Gold is not going mad at all, it is just working its way up again to reach the all-time high.

It has been on a steady incline since the end of July and nearing the all-time high at 1265. I would not like to go long on this when it is near its all-time high, but considering the current economic conditions, I would not be surprised if it broke through the highs.
any idea about its next resistance level ???
  • #250,078
  • Aug 31, 2010 8:44am Aug 31, 2010 8:44am
Quoting witsnpips
Heh, you seen the latest A-Team film?
No, not yet. Have you?.....lol
  • #250,079
  • Aug 31, 2010 8:51am Aug 31, 2010 8:51am
Quoting zameer
any idea about its next resistance level ???
I have 1247.40 on my chart and a drop from where we are at now is possible.

Next supply zone is 1265.10-1261.10 (Drilled down to h1) and a drop from there is possible.

It is also possible that the continual buying of gold will send it to new heights.

Anything is possible!
  • #250,080
  • Aug 31, 2010 8:57am Aug 31, 2010 8:57am
Quoting bbakker
I have 1247.40 on my chart and a drop from where we are at now is possible.

Next supply zone is 1265.10-1261.10 (Drilled down to h1) and a drop from there is possible.

It is also possible that the continual buying of gold will send it to new heights.

Anything is possible!
you drilld down to 1h and i climbd up to 1h to look for demand zone hahaha
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