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Cable Update (GBPUSD)

  • #257,441
  • Sep 30, 2010 9:51am Sep 30, 2010 9:51am
Quoting nAVIN2007
i honestly i dont how u can enter a position..and stick to it with this crazyness..but i understand it gives opportunity but how many in here will actually make money..i bet 95% for sure will lose

I just break it down into manageable levels and filter out the noise, I look for roughly 30 pip brackets that are very tradeable. Price never moves in a straight line, but Cable does tend to move in 30 pip spurts, finding the direction and levels of interest makes trading pretty easy.

For me that is easy, I spend the whole day behind the screens, for you with a full time job position trading suits you better, if you would spend the day looking at price then you would see clarity within the mess also.

Break it down into chunks and trade the bits. On the same token, I can't scalp to safe my life, I keep trying it and end up paying more on commision then I net on profits.

I just let the price find a level, confirm the direction and look for the next level, rinse and repeat.
  • #257,442
  • Sep 30, 2010 9:54am Sep 30, 2010 9:54am
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Attached Image
not euphoria follower
  • #257,443
  • Sep 30, 2010 9:54am Sep 30, 2010 9:54am
1min H&S??
  • #257,444
  • Sep 30, 2010 9:55am Sep 30, 2010 9:55am
Quoting cloggie
Minor at 5730 is holding her back so far. Covered all, let' see what happens, that was a nice run from 5838.

D@rn, looks like I will be leaving those last 12 pips on the table, shame, need to appraise my methodology can't have that.

Edit: 5716 is the next trigger level, keep an eye on EG 8667 also.

Thanks, that makes sense. I guess I need to work on identifying the trigger levels and making a plan rather than jumping in and getting burnt
  • #257,445
  • Sep 30, 2010 9:55am Sep 30, 2010 9:55am
Quoting cloggie
I just break it down into manageable levels and filter out the noise, I look for roughly 30 pip brackets that are very tradeable. Price never moves in a straight line, but Cable does tend to move in 30 pip spurts, finding the direction and levels of interest makes trading pretty easy.

For me that is easy, I spend the whole day behind the screens, for you with a full time job position trading suits you better, if you would spend the day looking at price then you would see clarity within the mess also.

Break it down into chunks and trade the bits....
good advise..

if this closes bullish then i believe it still up!
I suppose i should be thankfull im in this mess considering i bought and they initally became resistances..
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  • #257,446
  • Sep 30, 2010 9:56am Sep 30, 2010 9:56am
Quoting Sammie
Thanks, that makes sense. I guess I need to work on identifying the trigger levels and making a plan rather than jumping in and getting burnt

That is the key, you need to find your edge, find your levels and trade the price reaction to them. Find a way to filter out the noise.

Identify the levels where price consolidates and trade the direction of the subsequent move, find the next level, see how price reacts, then either stay in or get out.
  • #257,447
  • Sep 30, 2010 9:57am Sep 30, 2010 9:57am
Cable just kissed the lower uptrend line of the uptrend channel. If you jumped into the bear camp on this move you got duped!
check out my blog: forexmademillionaire dot com
  • #257,448
  • Sep 30, 2010 9:59am Sep 30, 2010 9:59am
Quoting cloggie
Trigger levels to me are levels of direction, if it goes, I'll get back in my short, if it holds I will buy.

If 8667 holds on EG, then 5716 will be my trigger for a long, 5747 will confirm that with a target of initially 5777

Oh what a beauty, like taking candy of a baby. That is now close to 200 pips I have called here live before the fact. Not boasting, just wanted to shut up the commercial spammers that keep coming in here to ridicule our little community.

There are some great traders here, you know who you are.
  • #257,449
  • Sep 30, 2010 10:00am Sep 30, 2010 10:00am
Quoting Geppy
Cable just kissed the lower uptrend line of the uptrend channel. If you jumped into the bear camp on this move you got duped!
straight forward stuff bro!..it hit my buy..that why i never exit cause i knew my position are supports
Attached Image (click to enlarge)
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  • #257,450
  • Sep 30, 2010 10:02am Sep 30, 2010 10:02am
Next 5747 and 5716 again. 5744 will be the interim trigger again. If 5744 holds, we are looking at 5808. EG 8667 is still the key.

Just trade the PA rejections of each and every level. One at a time.

The perfect textbook train would be 5747-5716-5747-5777-5808.

If 5744 holds then the train will be 5747-5777-5808.
  • #257,451
  • Sep 30, 2010 10:11am Sep 30, 2010 10:11am
now fiber turn... lol
Verily, in every difficulties there is relief
  • #257,452
  • Sep 30, 2010 10:11am Sep 30, 2010 10:11am
Quoting cloggie

The perfect textbook train would be 5747-5716-5747-5777-5808.
.

Check one and two. 5716 needs to hold now for a return to 5747. If 5716 gives 5686 will be the next key.
  • #257,453
  • Sep 30, 2010 10:13am Sep 30, 2010 10:13am
Quoting primzvicious
now fiber turn... lol
Well I can't complain.

Quoting Bull_Bear
Sell cable 1.5820 SL 1.5930 TP 1.5650

Sell EUR 1.3672 SL 1.3735 TP 1.3550
CAble TP adjusted to 1.5670
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #257,454
  • Sep 30, 2010 10:14am Sep 30, 2010 10:14am
Quoting cloggie
Check one and two. 5716 needs to hold now for a return to 5747
Cloggie

Are you using the M1 for these late trade entry and exit points?
  • #257,455
  • Sep 30, 2010 10:15am Sep 30, 2010 10:15am
Quoting Delite
Cloggie

Are you using the M1 for these late trade entry and exit points?

M15. M1 is noise for me, bbmac is the M1 specialist here.
  • #257,456
  • Sep 30, 2010 10:15am Sep 30, 2010 10:15am
Quoting Bull_Bear
Well I can't complain.



Fantastic trading Q well done. The parabolic sar on the daily has just broken through to the downside. This baby is going down down down.
You've got to be IN IT to WIN IT!
  • #257,457
  • Sep 30, 2010 10:15am Sep 30, 2010 10:15am
Quoting nAVIN2007
straight forward stuff bro!..it hit my buy..that why i never exit cause i knew my position are supports
I hope that is demo acc becouse your tehnique is totaly bad for me ...I tell you this becouse you open many orders in same way,and if is that live acc one day you will loose all balance..
"Buy on fear, sell on greed !!!
  • #257,458
  • Sep 30, 2010 10:16am Sep 30, 2010 10:16am
Quoting cloggie
Check one and two. 5716 needs to hold now for a return to 5747. If 5716 gives 5686 will be the next key.

Need to rework the train now 5716 went.

This is just a short little play by play on how I see levels in Cable and how I trade the PA surrounding them.
  • #257,459
  • Sep 30, 2010 10:17am Sep 30, 2010 10:17am
Quoting Petar_Serbia
I hope that is demo acc becouse your tehnique is totaly bad for me ...I tell you this becouse you open many orders in same way,and if is that live acc one day you will loose all balance..

Navin is too humble to answer this himself, he is a position trader holding trades for weeks and months on end. So far this year he has a 100% winning ratio.

Not a strategy I would use, but he is making money with it. And it is not a demo account.
  • #257,460
  • Sep 30, 2010 10:18am Sep 30, 2010 10:18am
Quoting Ifty
Fantastic trading Q well done. The parabolic sar on the daily has just broken through to the downside. This baby is going down down down.
Ifty bro, how you been?

Long time no see bud. You riding her too?
Veni, Vidi, Vici (We came, we saw, we conquered)
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