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Cable Update (GBPUSD)

  • #252,301
  • Sep 10, 2010 9:34am Sep 10, 2010 9:34am
Are we waiting for Obama to speak? Does anyone know what time that is scheduled?

Double bottom forming on the M15?
  • #252,302
  • Sep 10, 2010 9:38am Sep 10, 2010 9:38am
Quoting Delite
Are we waiting for Obama to speak? Does anyone know what time that is scheduled?

Double bottom forming on the M15?
scheduled for 11am...
  • #252,303
  • Sep 10, 2010 9:39am Sep 10, 2010 9:39am
Quoting joemiami
scheduled for 11am...

Thanks!
  • #252,304
  • Sep 10, 2010 9:39am Sep 10, 2010 9:39am
Quoting Delite
Are we waiting for Obama to speak? Does anyone know what time that is scheduled?

Double bottom forming on the M15?
time to add more long ... c ya next week guys...

happy weekend
not euphoria follower
  • #252,305
  • Sep 10, 2010 9:40am Sep 10, 2010 9:40am
....has been the best since 2nd week august when i hit such a wall i thought several times of giving up. Thanks to Cloggie and everyone i feel sure i am geting back on target., i'm finally getting to grips with the time patterns of trading intraday and anticipating consolidation. Very much appreciated.
(Am also up 12% so far.)
All systems of divination, like music itself,work through patterns.
  • #252,306
  • Sep 10, 2010 9:42am Sep 10, 2010 9:42am
Quoting kaspopsicle
....has been the best since 2nd week august when i hit such a wall i thought several times of giving up. Thanks to Cloggie and everyone i feel sure i am geting back on target., i'm finally getting to grips with the time patterns of trading intraday and anticipating consolidation. Very much appreciated.
(Am also up 12% so far.)

Well done! I think everyone hits that wall a number of times, before things start to come together. It sound as if there are a number of us who have made real progress this week.

Have a great weekend!
  • #252,307
  • Sep 10, 2010 9:43am Sep 10, 2010 9:43am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting cloggie
The only way to be consistent in this business is to make sure you live to trade another day, another week, another month, another year. Capital preservation is often overlooked as part of most traders MM. Having no trade on actually is a trade.

Perfect, mate!
  • #252,308
  • Sep 10, 2010 9:47am Sep 10, 2010 9:47am
Quoting cloggie
Well as anticipated that is forming nicely and she is actually tightening up a bit more to 5380-5396

Range is still valid, we had a flat bottom on the 5 but the bullish engulfing on the 15 was not valid, now having the top of the range holding on the back of that doji on the 5, I am still flat and not biased either way.

Price is telling me we have a bit more ranging to do here. The PA I am watching now is this bar on the 5 following on from that doji and to see what the 15 is doing. Still expecting 5380 to hold though.
  • #252,309
  • Sep 10, 2010 9:47am Sep 10, 2010 9:47am
Cloggie I love your style. I'm new and your posts actually make me think rather than follow blindly like a sheep.

I'll be honest, i've made huge losses but thats been due to my own stupidity - trying to run before i can walk - but i KNOW this is the game i want to be in to win

Thanks
  • #252,310
  • Sep 10, 2010 9:48am Sep 10, 2010 9:48am
Quoting Delite
Well done! I think everyone hits that wall a number of times, before things start to come together. It sound as if there are a number of us who have made real progress this week.

Have a great weekend!
Thanks Delite, and a great one to you too.
All systems of divination, like music itself,work through patterns.
  • #252,311
  • Sep 10, 2010 9:48am Sep 10, 2010 9:48am
Quoting bbakker
Wow! Nice going. There is nothing wrong with increasing your exposure (4%) by increasing your lot size, so long you are comfortable with it. 4% is too much for my liking at this stage.

Another way of doing it is by keeping the same exposure, but you can double the lot size and half the SL size.

For example, if you normally open 2 lots with 20 pip SL, you can keep the same exposure by doubling it to 4 lots with 10 pip SL. You just need to ensure your entry is bang on! It also allows you to play with the trade more as you have more lots to work...
jip BB...

Thats what I reckon I'm gonna start doing...

Loving life mate, just had the depressing experience of having to escort my ex from my flat

but hey, I've always got forex
@pawpaw1000 on Twitter
  • #252,312
  • Sep 10, 2010 9:49am Sep 10, 2010 9:49am
position summary:

cable : short @ 1.5432
ftse : short @ 5492
dow(ym): short @10428
Hear the music before the song is over ...
  • #252,313
  • Sep 10, 2010 9:56am Sep 10, 2010 9:56am
Quoting cloggie
Range is still valid, we had a flat bottom on the 5 but the bullish engulfing on the 15 was not valid, now having the top of the range holding on the back of that doji on the 5, I am still flat and not biased either way.

Price is telling me we have a bit more ranging to do here. The PA I am watching now is this bar on the 5 following on from that doji and to see what the 15 is doing. Still expecting 5380 to hold though.
what would have made the engulfing valid? next candle need to continue long? Surely we will see s&P end at 1100 again so we should continue down...

What you seeing, know you said flat but sure you could fathom a guess?
@pawpaw1000 on Twitter
  • #252,314
  • Sep 10, 2010 9:56am Sep 10, 2010 9:56am
Quoting pawpaw1000
jip BB...

Thats what I reckon I'm gonna start doing...

Loving life mate, just had the depressing experience of having to escort my ex from my flat

but hey, I've always got forex

Sorry to hear about the GF, instead of monkeying with your lotsize and SL, just keep doing what you are doing and increase the lotsize naturally once the balance increases, no point trying to fix something that isn't broke.
  • #252,315
  • Sep 10, 2010 9:57am Sep 10, 2010 9:57am
Quoting pawpaw1000
what would have made the engulfing valid?

The engulfing missed the bottom by about 1/2 pip. A guess? range and a break up. News nothwithstanding. lots of long wicks to the bottom and the upper part of the range on the M5 is getting more tests, then the bottom. But that is just a guess.........

I am not a gambler so I don't trade my guesses, just waiting for a solid confirmation of a break or a proper valid price pattern.
  • #252,316
  • Sep 10, 2010 9:59am Sep 10, 2010 9:59am
Quoting cloggie
The engulfing missed the bottom by about 1/2 pip. A guess? range and a break up. News nothwithstanding.
Hehe... you see that m5 curling don't you

EDIT: fibre going up and so I am also now (other reasons aside) taken a small scalp long... s/l just below range, looking for 12 pips...
@pawpaw1000 on Twitter
  • #252,317
  • Sep 10, 2010 10:02am Sep 10, 2010 10:02am
Quoting pawpaw1000
Hehe... you see that m5 curling don't you

EDIT: fibre going up and so I am also now (other reasons aside) taken a small scalp long... s/l just below range, looking for 12 pips...

Fibre will be stopped by 2725 so it can form another range from the DP to 2725, which is going to tighten to 2714-2725 for a while. The range is close to the London DP (2705) though, so it may want to test that if 2714 gives way.
  • #252,318
  • Sep 10, 2010 10:07am Sep 10, 2010 10:07am
Quoting cloggie
Fibre will be stopped by 2725 so it can form another range from the DP to 2725, which is going to tighten to 2714-2725 for a while. The range is close to the London DP (2705) though, so it may want to test that if 2714 gives way.
jip, just got stopped for 4 pips...

oh well, on to the next one...
@pawpaw1000 on Twitter
  • #252,319
  • Sep 10, 2010 10:12am Sep 10, 2010 10:12am
Quoting pawpaw1000
jip, just got stopped for 4 pips...

oh well, on to the next one...

I am still flat on both, waiting for a direction that has a proper confirmation. Let's see some profit taking on the LC for a quick 20-30 pips or so.
  • #252,320
  • Sep 10, 2010 10:13am Sep 10, 2010 10:13am
Okay, that's me out for the day. Its like watching paint dry!

Thanks again for everyone's terrific contributions and I hope you all have a great weekend.
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