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Cable Update (GBPUSD)

  • #264,141
  • Nov 11, 2010 6:47am Nov 11, 2010 6:47am
Quoting baggermatsch
i dont know your trading plan, but a R:R 3:1 20 pips SL and 60 pips TP (.6160) at such strong resistance dont look bad to me

but stick with you plan as long as you are successful!
long from 1.6105
S/L @ B/E
1/2 already closed @ 1.6145

so free riding at the moment on cable !!

taking a hit on fibre though
  • #264,142
  • Nov 11, 2010 7:09am Nov 11, 2010 7:09am
I confess I am surprised that the cable is still above 1.61 considering the beating everywhere else :o
  • #264,143
  • Nov 11, 2010 7:11am Nov 11, 2010 7:11am
Euro possibly found support 13660
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  • #264,144
  • Nov 11, 2010 7:14am Nov 11, 2010 7:14am
Quoting AdrianHNV
Sure will bee a lot of people getting caught out in both directions today if they try and use 'tight SL'....... Personally I have mine set at about 5 times the usual size...... Don't want to get spiked, ,,,,,,,, some might enjoy it but not me
i guess all the wicks i see today is stop hunting in a ranging market....bank holidays and all. still its good to have scalped with emergrncy stops set far away while trading the narrowing range on 15m chart....hahaha
  • #264,145
  • Nov 11, 2010 7:18am Nov 11, 2010 7:18am
Euro...nice hammer M15 and no candle closing below yesterdays low- going long 13680 open objective with about a 50 stop
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  • #264,146
  • Nov 11, 2010 7:38am Nov 11, 2010 7:38am
Gu has been itching to head north all day but thanks to Eu it has been pulled back and forth. Still holding longs but it would have been a lots easier just hitting the short button on EU!!
  • #264,147
  • Nov 11, 2010 7:42am Nov 11, 2010 7:42am
Quoting AdrianHNV
I predict today's high at 1.6213 which was Monday High....

Not trading to it too much just a little trade, just a thought of mine
i doubt there is enuf liquidity today to achieve that. bank hols and all...
  • #264,148
  • Nov 11, 2010 8:05am Nov 11, 2010 8:05am
Quoting lechidi
i doubt there is enuf liquidity today to achieve that. bank hols and all...
i wonder 1.6160 or 1.6100...mmmm
  • #264,149
  • Nov 11, 2010 8:11am Nov 11, 2010 8:11am
Quoting lechidi
i guess all the wicks i see today is stop hunting in a ranging market....bank holidays and all. still its good to have scalped with emergrncy stops set far away while trading the narrowing range on 15m chart....hahaha
Yeah! Am i wrong or have all those odd wicks been going on for a while?
All systems of divination, like music itself,work through patterns.
  • #264,150
  • Nov 11, 2010 8:14am Nov 11, 2010 8:14am
GU is in a process to go down....its just held by EG being sold off.
H1 shows some kind of distribution phase. Fake upside break being heavily sold off.
Im shorting rallies for 1,6000-
COT: The precious data ignored
  • #264,151
  • Nov 11, 2010 8:22am Nov 11, 2010 8:22am
Quoting kuroro001
GU is in a process to go down....its just held by EG being sold off.
H1 shows some kind of distribution phase. Fake upside break being heavily sold off.
Im shorting rallies for 1,6000-
sterling is bullish overall tho.
cable is stuck below the w1 pvp. once it close above it, might want to rethink about selling.

Good luck
Thank You
  • #264,152
  • Nov 11, 2010 8:30am Nov 11, 2010 8:30am
Quoting pawpaw1000
M30 gave me a bullish engulfing but I saw trouble for the bears on m15 when the wicks at the bottom started getting long. Then waited to see what happens at 3700 and jumped in

PS I got 3730 as being crucial!
if only forex was this easy daily...? why are you guys bothering with longer term calls on a day when the banks are on hols and a clear range has since been established btw 1.6160 and 1.6120...plus/minus. have picked out a total of 60 pips today just scalping that range and for me the newest newbie on the train, that is awesome!!!!!
  • #264,153
  • Nov 11, 2010 8:31am Nov 11, 2010 8:31am
Quoting wormboy
sterling is bullish overall tho.
cable is stuck below the w1 pvp. once it close above it, might want to rethink about selling.

Good luck
Yes its a counter trend trade. But H1 is drawing some patterns i like to short.
For the pivot... on what tf you look for a close above/below ? If the weekly candle close above it ?

Thank and good luck to you as well mate
COT: The precious data ignored
  • #264,154
  • Nov 11, 2010 8:38am Nov 11, 2010 8:38am
Quoting kaspopsicle
Yeah! Am i wrong or have all those odd wicks been going on for a while?
they sure have been nibbling away at conservative stops. but those who have scalped the range with proper MM (not being too greedy with lo tsize) enabling them keep their stops far away have had a sweet day! i would know!! i only wonder what the gurus here would have scooped today if nimble noob me could have scooped out 60pips...
  • #264,155
  • Nov 11, 2010 8:39am Nov 11, 2010 8:39am
Quoting lechidi
they sure have been nibbling away at conservative stops. but those who have scalped the range with proper MM (not being too greedy with lo tsize) enabling them keep their stops far away have had a sweet day! i would know!! i only wonder what the gurus here would have scooped today if nimble noob me could have scooped out 60pips...
tho risk reward ratio was generally not heeded today...lol
  • #264,156
  • Nov 11, 2010 8:42am Nov 11, 2010 8:42am
Quoting Mr.Elliott
i wonder 1.6160 or 1.6100...mmmm
thats the range scalper have been having a field day with. its tempting to think it could fill it average daily range for thursdays today but it a temptation i am not letting into my vision bcos of the bank hols.....if it does happen eventually, so be it. i am now just watching and learning from you guys from the sideline...GL
  • #264,157
  • Nov 11, 2010 8:48am Nov 11, 2010 8:48am
You guys aren't seriously trading this shit are you?

LOL.

Hey, I am the die hard scalper too, but with London Closing bells about to chime...If you are into something, I'd be looking for an exit.

The following 12 hours will be about as interesting as watching paint dry, and if you find yourself on the wrong side of the trend, you will be held hostage, most likely in a position you might not be able to escape profitably...

Just my dos centavos....

The 15M chart tells the tales of support and resistance. Topside shroud as resistance, 15m 200EMA as support. This is the only chart I have short chart on, and with the 15m 200EMA being the target and support, not so sure I would wanna get caught holding onto shorts on or around this line...not today anyways.

Enjoy the day guys!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,158
  • Nov 11, 2010 8:49am Nov 11, 2010 8:49am
Quoting kuroro001
Yes its a counter trend trade. But H1 is drawing some patterns i like to short.
For the pivot... on what tf you look for a close above/below ? If the weekly candle close above it ?

Thank and good luck to you as well mate
sorry, guess we're not looking at the same thing. you're trading it from the ltf.

i'm trading it off the H6 mate, already holding long since yesterday. Wasn't around the whole day since it's a nothing day with the holidays like magix mentioned. Anyway the pivot breakout will also be taken from the H6.
Here's the chart:
1. http://www.forexfactory.com/showpost...stcount=264043

Good luck
Thank You
  • #264,159
  • Nov 11, 2010 9:12am Nov 11, 2010 9:12am
Quoting lechidi
thats the range scalper have been having a field day with. its tempting to think it could fill it average daily range for thursdays today but it a temptation i am not letting into my vision bcos of the bank hols.....if it does happen eventually, so be it. i am now just watching and learning from you guys from the sideline...GL
i'm just too lazy to scalph...nowdays...too stress for me....day trades and swing trades are more convenient as i have a fulltime job too...
  • #264,160
  • Nov 11, 2010 9:20am Nov 11, 2010 9:20am
Quoting lechidi
they sure have been nibbling away at conservative stops. but those who have scalped the range with proper MM (not being too greedy with lo tsize) enabling them keep their stops far away have had a sweet day! i would know!! i only wonder what the gurus here would have scooped today if nimble noob me could have scooped out 60pips...
Missed your earlier posts ..other stuff taking my time... did you post your trades here at the time that you entered them?...The gurus here help everyone who listens to make more.They even help the ones who dont listen...i'm a newbie, i just listen...most of the time. I only ever enter a trade with a seriously considered stop and never one "5 times the size " on a small range. Other way round for me ..most i've ever used as a stop is 60 when entering a considered trade at medium range. Each to their own mm. imo. G/L.
All systems of divination, like music itself,work through patterns.
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