As I suspected, a long was on the cards. Now I wait for PA to tell me when to exit:
http://img841.imageshack.us/img841/4441/chart2b.png
http://img841.imageshack.us/img841/4441/chart2b.png
Cable Update (GBPUSD)
- #251,943
- Sep 9, 2010 10:24am Sep 9, 2010 10:24am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
- #251,944
- Sep 9, 2010 10:24am Sep 9, 2010 10:24am
Thank you both!
I do hope my light bulb flickers and begins to shine very brightly soon.
I have actually done well today. I think I'll stay flat now in case I lose todays profit.
- #251,945
- Sep 9, 2010 10:35am Sep 9, 2010 10:35am
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
A chart helps those who can read it.
- #251,946
- Sep 9, 2010 10:46am Sep 9, 2010 10:46am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
4Xstar
When you do the river trade and it breaks out of the box near the daily pivot ... do you still take it?
In this last case, I didn't take the trade since my bias is short, I preferred to wait until it 'topped out' around the 5470 area.
In retrospect, I could have played it both ways for more pips, so that means I need more practice.
*******************
I'd rather make money than be right.
- #251,947
- Sep 9, 2010 10:51am Sep 9, 2010 10:51am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #251,949
- Sep 9, 2010 10:51am Sep 9, 2010 10:51am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
Bearish engulfing candle forming on the 60 min, if it finishes like that, will hold my short.
BTW, the first short I took earlier on (chart posted) was at 5442, 3 positions, collected 10 pips on 1 and stopped out at b/e on last 2.
Then missed a really good long opportunity because I kept looking for a new short setup. I still have to learn that when a trade ends, erase the mental slate of any bias as to direction & just let the chart speak.
BTW, the first short I took earlier on (chart posted) was at 5442, 3 positions, collected 10 pips on 1 and stopped out at b/e on last 2.
Then missed a really good long opportunity because I kept looking for a new short setup. I still have to learn that when a trade ends, erase the mental slate of any bias as to direction & just let the chart speak.
*******************
I'd rather make money than be right.
- #251,950
- Sep 9, 2010 10:54am Sep 9, 2010 10:54am
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
Hear the music before the song is over ...
- #251,952
- Sep 9, 2010 11:00am Sep 9, 2010 11:00am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
That's a good question & I guess it depends on other circumstances .. if the break is a continuation or a reversal, also strength of move & breaking candle shape on 5 & 15 min. But certainly more caution is necessary, unless it is breaking away from the DP in which case there is more probability.
In this last case, I didn't take the trade since my bias is short, I preferred to wait until it 'topped out' around the 5470 area.
In retrospect, I could have played it both ways for more pips, so that means I need more practice.
ps this is the most entertaining thread . . . . .
- #251,953
- Sep 9, 2010 11:03am Sep 9, 2010 11:03am
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Bearish engulfing candle forming on the 60 min, if it finishes like that, will hold my short.
BTW, the first short I took earlier on (chart posted) was at 5442, 3 positions, collected 10 pips on 1 and stopped out at b/e on last 2.
Then missed a really good long opportunity because I kept looking for a new short setup. I still have to learn that when a trade ends, erase the mental slate of any bias as to direction & just let the chart speak.
I have a support for the interm on my 1m chart...and of course, top side resistance is still the 200 EMA on the H4.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #251,955
- Sep 9, 2010 11:29am Sep 9, 2010 11:29am
There isnt any need 4 all this, everyone needs to know the limit, ppl are in here to either assist one another or something, but when you dont get ot right insult comes, what about the number of times u get it right. there is no perfect master in fx.........
you aint no english comedian, with a profile pic like that
- #251,956
- Sep 9, 2010 11:47am Sep 9, 2010 11:47am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #251,957
- Sep 9, 2010 11:50am Sep 9, 2010 11:50am
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
Hear the music before the song is over ...
- #251,959
- Sep 9, 2010 12:04pm Sep 9, 2010 12:04pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
G2G
s/l to -9pips at 5408 (got 5412 as top of range) and got tp at 5470...
Lets see who wins, bulls or bears?
NAH... put s/l to be and up 20 pips... free trade so let's just see...
OFF TO EAT AGAIN
Hit my tp to the pip! Nice...
How'd you do cloggs? you hang in with 1/3 for the pay?
Let's see whats up now...
@pawpaw1000 on Twitter
- #251,960
- Sep 9, 2010 12:09pm Sep 9, 2010 12:09pm
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
Hear the music before the song is over ...