on the hourly chart (i havent got a 4hr chart so have no idea what that loooks like) iv got a descending channel which means 1.53 seems more probable to be tested, unless cable breaks free of the channel and goes on to test 1.56, but it has been in this channel since the 11th august now. Can anyone put up a 4hr chart as i havent got access to it and am relying on the daily and hourly chart currently
Cable Update (GBPUSD)
- #251,703
- Sep 8, 2010 4:22pm Sep 8, 2010 4:22pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #251,704
- Sep 8, 2010 4:26pm Sep 8, 2010 4:26pm
So what are your reasons for buying? Maybe that way we can help you...
Thinking you are new at this and see a up move in eu and gbp with a little retrace and think "Now is the time to buy!" ?
Stop loss is where? Take profit? These are all things you need to think of before entering a trade...
my reason for buying was based on H4 , but i dont know how to put a pic on this..
thats exactly between my two shorts
I don't really know mate... moving my s/l on m15 to every swing high... Know we have resistance at 2710 and then lower down not sure...
Looks like we bouncing a bit now but we will see what happens... Might make lower lows
- #251,706
- Edited 4:35pm Sep 8, 2010 4:34pm | Edited 4:35pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
Ask 6 traders and you will get 7 different opinions , ask 6 economists/strategists/bankers etc and you will get 17 different opinions
Maybe Cable will be the new safe haven currency after the collapse of the USD and the Euro...that will be on October 16 ,2017 BTW, after the 3rd revaluation of Chinese $ that replaced both the Yen and the USD in 2014
All systems of divination, like music itself,work through patterns.
- #251,707
- Sep 8, 2010 4:37pm Sep 8, 2010 4:37pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
I too short from 2720 Got my take profit at 2640
Not gonna move s/l as If Im wrong, just take the be
@pawpaw1000 on Twitter
- #251,708
- Sep 8, 2010 4:46pm Sep 8, 2010 4:46pm
why not let SL be at 12765 WR 1..just curious:
You a little tip tip about Asians,behaviour..
or adjust it According to PA
just
You a little tip tip about Asians,behaviour..
or adjust it According to PA
just
s/l old friend? all my shorts are at BE... one at 46 and the other at 33...
Not gonna move s/l as If Im wrong, just take the be
We cannot direct the winds but we can adjust our sail.
- #251,710
- Sep 8, 2010 5:00pm Sep 8, 2010 5:00pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #251,711
- Sep 8, 2010 5:02pm Sep 8, 2010 5:02pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
thank you. im new ,thats true..
my reason for buying was based on H4 , but i dont know how to put a pic on this..
Fibre has alot of bad fundamentals and will propably see lower lows before going up....
Guess at the end of the day it depends on your TF...
@pawpaw1000 on Twitter
- #251,713
- Sep 8, 2010 5:04pm Sep 8, 2010 5:04pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #251,715
- Sep 8, 2010 5:10pm Sep 8, 2010 5:10pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #251,716
- Sep 8, 2010 5:11pm Sep 8, 2010 5:11pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #251,717
- Sep 8, 2010 5:13pm Sep 8, 2010 5:13pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #251,718
- Sep 8, 2010 5:42pm Sep 8, 2010 5:42pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
After working more then 40 years as a certified financial analyst I have my own views and some of them can't be explained without the necessary experience.
If the chart I presented did not gave enough information why 1.555 could be an interesting level to go long for me, it could be fruitful to ask me where this level is based on instead of telling me it has no sense and telling me I'm talking from my ass.
Good morning all,
I find it most intriguing to participate in this forum.
Knowledge can be accumulated by listening to each other and finding your own way.
Through the hidden messages of Magix and some responses (he's on my hidden list) I see he is pursuing his crusade, let him he's just a kid thinking everything what doesn't fit in his fixed trading rules is bad.
Are you this guy?
A little insight here....
This fella refused to short in a 300 pip zone, or so he claims because he knew the trend was long, but also knew that there was going to be a 300 pip draw down. POSITIVE there was going to be one, and waited. Waited for 300 pips to fall and started to look for longs....
He Drew an AMAZING trend line. It was one of the most beautiful trend lines I have ever seen. Gave all the right reasons for why market would or could or should retrace right to that trend line, but refused to short into it....Now, when market had found some daily support, it was then, a cool 500 pips off top, he found his way into a short trade and guess what? Yeah, got stopped out
40 years as a certified financial advisor and look at the trades this guy posts...
Plan failed, closed longs @ 1.536 with losses
Thanks for your concerns, I wouldn't call current price "in the middle of the road" though...
Damn stopped @ 1.5500 I'm taking the sideline for some time, too flabbergasted by recent moves.....
Now, seriously, we all know that there are guys full of shit on any forum...but this guy is seemingly driving the bus.
Don't get all offended by my words here (dude still has me on ignore), just keep this in mind, there are several ways to skin a cat, but is this the type of fella that you need to follow into your trading career?
As you spend some time walking the halls here at the Forex Factory, have an idea of what you are reading and where it is coming from. Take the trades based on what you see on your charts, not what guys like this post. IF for some reason you are unsure, sit back and relax. Maybe you aren't making any money, but you aren't losing any either.
Take the time. Watch for what seems right. Commit some time to your understanding of the markets. After that, it doesn't hurt to ask a few questions from the nice folk here and when you open yourself up to positing, maybe it will allow others to share in your insight.
Good luck on the evening here.
Enjoy your time at the factory. I know I do.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #251,720
- Sep 8, 2010 5:47pm Sep 8, 2010 5:47pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
