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Cable Update (GBPUSD)

  • #258,001
  • Oct 1, 2010 3:26pm Oct 1, 2010 3:26pm
Quoting egkid
Market Close so, This close
A- Bullish
B- Bearish
C-Sideline till things b more clear

Pick up ur choice lol
Got to be blind to call this a bearish trend. Just broke a bullflag, but will keep an eye on the underside tl of the diamond.
  • #258,002
  • Oct 1, 2010 4:01pm Oct 1, 2010 4:01pm
Hi Guys, FYI GU has just closed at 1.5817 (10pm GMT). Hope you all have a great weekend.
You've got to be IN IT to WIN IT!
  • #258,003
  • Oct 1, 2010 4:13pm Oct 1, 2010 4:13pm
Quoting malcolmb14
A been buying dips and will continue

Last 2 days look like shake out of weak longs ... if that is the case then up up and away.

But then again if you want an easy life with less whipsaw just buy au or eu
You're not wrong there
  • #258,004
  • Oct 1, 2010 4:29pm Oct 1, 2010 4:29pm
Quoting cloggie
And that is exactly the kind of posts I was referring to in my post above. See the chart above, there was a great 400+ pip short while price was above the 200 ema.

It is blanket statements like that and trolls agreeing with it that keeps 90% of the traders here from reaching any level of success in this business.

Like I said, the muppets are running the asylum and are all agreeing with each other driving down the road to failure.

What is the main reason that most retailers fail on this thread? Because they follow the loudmouth failures...
Cloggie, From next sunday I am going to follow your trades from here. Please count me in as your student. I am in the USA.
Bomi
  • #258,005
  • Oct 1, 2010 4:31pm Oct 1, 2010 4:31pm
Quoting Geppy
A person blindly clicking buy or sell and then placing their target and stop... well, that's just ridiculous (but that doesn't mean it couldn't potentially work also). I don't think anyone in here does that and that's not what I was recommending. I'd be surprised if anyone else took my post to suggest that.
I think you will be surprised by the number of people who actually do that. Inevitably they don't last very long in this game.
  • #258,006
  • Oct 1, 2010 4:51pm Oct 1, 2010 4:51pm
http://www.forexfactory.com/showthread.php?t=242390
Sorry for posting in this tread.Cloggie just if you have a time...please continue your posts in your opened tread.It is very interesting to read your posts.
  • #258,007
  • Oct 1, 2010 5:00pm Oct 1, 2010 5:00pm
week ended with a hangman...i still believe in bear cause so far about to make a lower hi on daily vs 1.5990...
if i`m wrong sl size is expendable for potential reward from here
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.jpg Size: 112 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #258,008
  • Oct 1, 2010 6:01pm Oct 1, 2010 6:01pm
Anyone recognize this~?
Does it looks like a valid head and shoulders to you~?
http://img291.imageshack.us/img291/4538/70323276.jpg
  • #258,009
  • Oct 1, 2010 6:43pm Oct 1, 2010 6:43pm
Quoting chazzle
I'm going out see you monday
You know I use Magix's system and I am beginning to run from the 200EMA. It's like a dog in an invisible fenced yard. You don't know why but stay away... far away ... go the other way!!! Don't matter what time frame
  • #258,010
  • Oct 1, 2010 7:32pm Oct 1, 2010 7:32pm
Quoting cloggie
And that is exactly the kind of posts I was referring to in my post above. See the chart above, there was a great 400+ pip short while price was above the 200 ema.

Like I said, the muppets are running the asylum and are all agreeing with each other driving down the road to failure.

Idiot blanket statements not to short when price is above the 200 ema would have kept you from bagging 400 pips and instead would have only netted you about 10.

.
Still talking s*it about me then Cloggie?

I explained full well my strategy for the short,the time frame (00:00 - to NY session BST) in a trade like this I would think it pretty obvious that a 200 ema on the 15m was not as important as using it for scalping.

I explained that I would get out beyond 70% of the retrace if the trade went against me.That happened but price came down a bit so I got out then.

I stated on the thread exactly when "I was going into scalp mode" again,isn't it obvious that a 200ema 15m would be more important in that kind of strategy?

Oh no,apparently I make blanket statements about the 200ema or stops or whatever which could be bad advice for newer traders.I thought this wasn't a thread for noobs Cloggie?I thought you told them to go to babypips Cloggie?

I made a couple of comments to other people today,both times you jumped to the wrong conclusions and accuse me of ridiculing people.You actually said this.Both times you were wrong-if you don't believe me,you can go back and read it yourself.

I put all my trade ideas down and explained them as I made them.I posted trades as I made them,and they came out good and all you can do is lie about me.

Maybe its because you shorted when 15808 was broken looking for the 15770s thinking it was the more "likely" (your word not mine)and lost whereas I went long and won because,guess why?I didn't want to short below the 200ema 15m when 15780 was a strong support level.Something which again I EXPLAINED AT THE TIME.

How is that a blanket statement Cloggie?Please tell me.

The sad thing is,I was really enjoying your posts and learning a lot-as I'm sure others here are too.

Thanks for wasting my time in having to defend myself against such a load of rubbish that you have posted about me.
  • #258,011
  • Oct 1, 2010 7:51pm Oct 1, 2010 7:51pm
If 1.5710 broken , The price will move as picture shown
FINAL TARGET 1.5545
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 32 KB
  • #258,012
  • Oct 1, 2010 8:20pm Oct 1, 2010 8:20pm
Quoting cloggie
See the chart above, there was a great 400+ pip short while price was above the 200 ema....

Learn to trade first before agreeing with the other muppets here.
Hey,muppet, thats a 1HR chart-I spent all day trading off a 15M one as I probably posted several times today
  • #258,013
  • Oct 2, 2010 12:30am Oct 2, 2010 12:30am
Quoting AllyB
You know I use Magix's system and I am beginning to run from the 200EMA. It's like a dog in an invisible fenced yard. You don't know why but stay away... far away ... go the other way!!! Don't matter what time frame
that's dangerous for newbie ................ !!!!!!!!!!!!!!!!!!!!!
not euphoria follower
  • #258,014
  • Oct 2, 2010 12:31am Oct 2, 2010 12:31am
Quoting amirhabibi
If 1.5710 broken , The price will move as picture shown
FINAL TARGET 1.5545
just check monthly candle and daily candle.... u will see
not euphoria follower
  • #258,015
  • Oct 2, 2010 12:54am Oct 2, 2010 12:54am
Quoting egkid
1-I'm not counter trend only trade with it, so no sell for me.
2-everything is possible but as u said not expected break yesterday high and to know where r we drew fib from yesterday high to low u will see something interesting.
3- E/u above 1.3750 entering hot area of R

4- today close Very important i think it will g/u @ 1.5890 ,1.5825, 1.5795
Catch u later
Trade safe
Good call, I feel bad for the traders who got in at .7774 to short.
  • #258,016
  • Oct 2, 2010 1:11am Oct 2, 2010 1:11am
Quoting chazzle
Hey,muppet, thats a 1HR chart-I spent all day trading off a 15M one as I probably posted several times today
Cheer up pal, your call up is a good r/r setup but tight sl should be ok.
Cloggie also have his point too since price above MA so the trend is up as normal call.Here the tube for 2 of you enjoy and happy weekend
Inserted Video
  • #258,017
  • Oct 2, 2010 2:03am Oct 2, 2010 2:03am
When I see posts on this thread stating that cable will go to 1.42 or 1.68 or to whatever long-term target, it brings a smile to my face, as for most part these posters are adamant that price will get there.

When I first started trading, I thought every time I placed a trade it would go to the moon and set me up with some big profits because there seems to be unlimited potential for profit (and loss!). How wrong I was and how right the market is.

I think one of the keys to successful trading is to learn how to achieve and maintain a state of objectivity. If you get stuck in a blinkered way of thinking rather than entertaining all possibilities, I believe it will be detrimental to your trading.

I am not saying that setting long-term targets is a bad thing, especially if you only work of the higher timeframes, just be prepared that it might not happen and manage your trades accordingly. Remember that nobody on here is right, only the market is right. If the market proves me wrong then I will gracefully accept defeat.

I wish you success with your trading and have a great weekend!
  • #258,018
  • Oct 2, 2010 2:46am Oct 2, 2010 2:46am
Quoting ICONyound
This is really good information to anyone.
Easier said than done!

A really good thread about trading psychology I recommend you read is at http://www.forexfactory.com/showthread.php?t=216213

It is a short thread and unfortunately died but well worth a read.
  • #258,019
  • Oct 2, 2010 3:31am Oct 2, 2010 3:31am
Quoting bbakker
When I see posts on this thread stating that...
Quoting ICONyound
This is really good information to anyone.
My comment & The lesson
Every one use different TF to trade and it's not wrong to say that we will go 1.40 or 1.70 BUT when i see /Feel something wrong @ some point and my plan not goes as i planed Stop, Wait, Review and maybe Lock ur profit. Not insist to go on with my plan. Market do what ever it want AND there is always another chance.

The 3 sequence u may notice when start forex
1- losing >> because insist to reach ur TP no matter what
2- make profit and then lose it>> Insist to dance to only one rhythm with ur self not listening to market rhythm
3- make profit and keep it >> first step to success u listen , dance, flexible
4- professional Dancer as i call it >> Creator and have a vision

I wrote above see/feel and i know many will come up say hey no emotional u will lose!! Yes right but wait after long time trader will get sense of the market.
The rhythm of it when music change u will feel it , Listen then start to move with new rhythm that what i mean. After enough time in market u will know what i mean.

Hope that help and all above my own view and i could b wrong but Hey after all It's Free thread
  • #258,020
  • Oct 2, 2010 4:36am Oct 2, 2010 4:36am
Quoting needyourwish
Anyone recognize this~?
Does it looks like a valid head and shoulders to you~?
http://img291.imageshack.us/img291/4538/70323276.jpg

dude u have no idea what a head and shoulder is..right cannot be higher than left..u have a much lower shouder down on the left..look at yur chart again
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