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Cable Update (GBPUSD)

  • #257,921
  • Oct 1, 2010 9:37am Oct 1, 2010 9:37am
Quoting PipChick
I dont mean to step on any toes here but cloggs, you need to get a grip. Its not necessary to rip people up who participate on an open forum the way you do. Sorry if I insult you, not intended for that purpose.

But it is guys like him who state here that he will not short because price is above the 200 ema that misleads the "newer" traders here when clearly price has moved down 70 pips from the high against this guys' blanket statement of using the ema as a directional aid.

He is telling scalpers to use a 50 pip stop, he has a go at a poster here for missing out a seperator, and then he tells all here that there is no short because price is above the 200 ema.

But you know what, I don't really care and the muppets can go ahead and run the asylum. A waste of my time and effort.
  • #257,922
  • Oct 1, 2010 9:37am Oct 1, 2010 9:37am
Hi Cloggie

Your levels have proved pretty useful today.I've got them plotted on my 5M and 15M charts, names Fenchurch,Marylebone,Kings Cross and Liverpool Street

I couldn't see any clear Fibs or H/Ls you took them off so I'm guessing you took Daily R1 at 1.5868 and stepped down in 30 pip chunks.

I didn't short the last break below08 because the 15M Stoch was moving up from OS and the 5M was in the OS.As market was rangeing I'm happy with the Stoch readings on those TF plus it was just before a Major new release.

Was happy to GL on the break back above so that was a nice 30 pips or so when it stopped at Marylebone !

Thanks for the advice and direction yesterday.

V
  • #257,923
  • Oct 1, 2010 9:37am Oct 1, 2010 9:37am
Quoting TheArcher
u mean the circled ?


..

no..the bit i highlighted..3 bars having same low
  • #257,924
  • Oct 1, 2010 9:40am Oct 1, 2010 9:40am
Quoting cloggie
But it is guys like him who state here that he will not short because price is above the 200 ema that misleads the "newer" traders here when clearly price has moved down 70 pips from the high against this guys' blanket statement of using the ema as a directional aid.

He is telling scalpers to use a 50 pip stop, he has a go at a poster here for missing out a seperator, and then he tells all here that there is no short because price is above the 200 ema.
I believe that he was just saying how he views or sees the mkt just like the rest of us do. Thats what we do in a forum. I think you may be a little too harsh at times when people are trying to do their best. It isnt easy for people to expose themselves and put their views out there for the world to see.
  • #257,925
  • Oct 1, 2010 9:41am Oct 1, 2010 9:41am
Quoting cloggie

He is telling scalpers to use a 50 pip stop, he has a go at a poster here for missing out a seperator, and then he tells all here that there is no short because price is above the 200 ema.
I didn't know that guy was a scalper,sorry-thats why I said it depends what you're doing,and I didnt "have a go" at anyone for missing a seperator-I thought he made a typo,which he did and was just trying to clarify.Cloggie,I have learned loads from what you post and respect a lot of what you say,but let me say this-I do not ridicule people
  • #257,926
  • Oct 1, 2010 9:41am Oct 1, 2010 9:41am
Quoting cloggie
But it is guys like him who state here that he will not short because price is above the 200 ema that misleads the "newer" traders here when clearly price has moved down 70 pips from the high against this guys' blanket statement of using the ema as a directional aid.

He is telling scalpers to use a 50 pip stop, he has a go at a poster here for missing out a seperator, and then he tells all here that there is no short because price is above the 200 ema.
Honestly, if people here can't think for themselves and take things they read here with a grain of salt... they have no business trading.

Instead of ripping people apart with your own opinion of if they're right or wrong it would be much more productive to simply post once in awhile how people shouldn't follow other traders blindly. That's not why anyone should be here.

If someone is blindly following another's calls I would hope they at least have the sense to do it on a demo account and learn from those calls before going live with a strategy. If they don't, I don't feel sorry for them.
check out my blog: forexmademillionaire dot com
  • #257,927
  • Oct 1, 2010 9:42am Oct 1, 2010 9:42am
Quoting Geppy
So I was right that we remain bullish and the trend really wasn't broken at all yesterday despite so many traders here hoping on the bear bandwagon....
need to understand support and resistance in depth to see this market for what it is..my take n t s pvusly mnthly prnted bar ws a red hering..but again time will prove this
  • #257,928
  • Oct 1, 2010 9:42am Oct 1, 2010 9:42am
interesting , ya ?

will it form one more Diamond ?

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  • #257,929
  • Oct 1, 2010 9:42am Oct 1, 2010 9:42am
Quoting Geppy
Honestly, if people here can't think for themselves and take things they read here with a grain of salt... they have no business trading....
Agree Geppy. Also, there is another forum for noobs, I dont believe this is a noob forum.
  • #257,930
  • Oct 1, 2010 9:43am Oct 1, 2010 9:43am
I'm going out see you monday
  • #257,931
  • Oct 1, 2010 9:45am Oct 1, 2010 9:45am
Quoting chazzle
I'm going out see you monday
Nice trading today chazzle. Have a good weekend.
  • #257,932
  • Oct 1, 2010 9:45am Oct 1, 2010 9:45am
Quoting Magix
Well, target or next period of possible resistance....

Another look at the same chart...

As price continues to move up, we would have to assume that the trend is still intact, that as long as we are above the same fast EMA that we now have a new mid support in our slow EMA...

So, looking at yesterdays line of rejection, that would be our next area of major resistance, and past that is the top of the same channel identifier, too high up to show.

Again, if we keep above fast EMA, we continue our long trend, if we fall below fast EMA, we...

hi Magix, yesterday break 200 SMA 1 hour, why you didn't say "SELL" in this pull back?
I will be the number one Manager.
  • #257,933
  • Oct 1, 2010 9:46am Oct 1, 2010 9:46am
Im outta here too.Have a good weekend all.
  • #257,934
  • Oct 1, 2010 9:51am Oct 1, 2010 9:51am
Quoting nAVIN2007
no..the bit i highlighted..3 bars having same low

oops , sorry meant this one ... ?



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  • #257,935
  • Oct 1, 2010 9:52am Oct 1, 2010 9:52am
Quoting javapips
hi Magix, yesterday break 200 SMA 1 hour, why you didn't say "SELL" in this pull back?
Welcome back JP...

Why didn't I give a trade call in the forum?

That wasn't what I was trying to do jav. I been casually surfing the factory this week and only been around my trade station for a couple of hours. To sit and hover and offer trade advice or trade calls isn't of my nature and not what I was trying to accomplish.

I took a few minutes time to try and give a little explanation to follow up another traders idea of trading, using a very simplified method. When I was asked a follow up question, I gave a follow up answer.

That's it...

As the saying goes, Give a man a fish, he can eat for the day. Teach that man to fish he can eat for a lifetime.

Or

Give a man a match, he can be warm for the moment. Lite that man on fire and he will be warm for the rest of his life!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #257,936
  • Oct 1, 2010 9:54am Oct 1, 2010 9:54am
price move 30++ in range up and down...try to scalp a little
  • #257,937
  • Oct 1, 2010 10:02am Oct 1, 2010 10:02am
Quoting TheArcher
oops , sorry meant this one ... ?



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  • #257,938
  • Oct 1, 2010 10:11am Oct 1, 2010 10:11am
Hey Cloggie i was curious when do you usually start your trading day?
  • #257,939
  • Oct 1, 2010 10:12am Oct 1, 2010 10:12am
Just back at desk after a few hours, finished session earlier...see price has consolidated / pulled back further off the current 5873 high...trying to stage a recovery...fibs drawn to that 5873 hi from yesterday's 5668 lo and todays 5703 low...unbreeched ones plotted on 1hr chart below

G/L
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ex member
  • #257,940
  • Oct 1, 2010 10:13am Oct 1, 2010 10:13am
Quoting Magix

Give a man a match, he can be warm for the moment. Lite that man on fire and he will be warm for the rest of his life!

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