Cable Update (GBPUSD)

Dly R1 pivot and 76.4% 5647-5483 1hr swing @ 5606/07

G/L

Current near-term 1hr screenshot as below:

G/L

http://www.easy-upload.net/fichiers/z.201012195621.gif

Hi Guys

Just thought I'd pop by as I haven't been on here for a while.

Looking at the list of posters I see it's dropped off dramatically.

Is that because there were too many "experts" dissing the newbies?

Price pullsback off 5606/07 to the previous 1hr/5min swing hi zone (potential rbs) where fresh demand comes in and the pullback is supported, 5min t/f below shows it, but still some supply at or around the current daily hi at that area, this remains the upside obstacle atm.

G/L

Hi,

could be that, could be coming to y/e, could be experienced ones sick of newbies Lol, admittedly though certain seemingly experienced traders here have been very vocal and ego-centric in the past. here and continue to be elsewhere..dismissing all but their own view....could also be that € has the better atr at the moment and smaller spread erosion. In truth probably a combination of all of the above. For mew it passes the time between set-ups and the act of posting keeps my 'itchy' fingers occupied whilst in a trade to give it time to work out - a terrible habit of mine not letting them run to full potential. Lol

G/L

Newbies only ever get help around here. There have been a number of b@~sh~tt*s who have quite rightly been dissed.

I think what happens is thats ome dismiss things that they haven't been able to get to work for them...as 'it doesn't work' period. Generally when you hear this it means the poster can't / hasn't to get it to work for them not that it can't work...there are so many ways to get a trading edge in this business and I know from my own experience that I do something day in day out that others have said cannot possibly be done and that the lower t/f's are all noise, only 4hr + counts etc...

Of course you gotta find your own way and decide who is wworth listening too, and who is not. A little humility from some more experienced thread participants would also go a long way..but hey that's only one guy's opinion.

G/L

Bullish data for the pound !

My long is looking good........

Some one got that better than forecast/lst month's Uk Manuf pmi data early- lol !! [58 -vs- 54.8]

Nice 1min bull thrust b/o off the 5min pinbar just before it, following the pullback...Ahead a previous 1hr/4hr swing hi and previous 4hr/daily swing lo zone...price currently around the 23.6% of 6093-5483.

G/L

http://www.easy-upload.net/fichiers/...1012110475.gif

Good to see some movement. I'm interested to see if price can break 1.5650. If not I'll be looking to short

Finishing trading session here with a final look at current near-term 1hr screenshot. Might pop back in this London pm to see what I missed.

G/L

http://www.easy-upload.net/fichiers/z.2010121105033.gif

Morning Kas

How are you and the nags getting on Making loads of money yet or still waiting for someone to tell you where to get into a trade and when to get out

Not many too learn from here, except for a few like 'mac' who genuinely seems to care about others. The vast majority of the big 'V's though are still running with funny money......or whatever

I think what happens is thats ome dismiss things that they haven't been able to get to work for them...as 'it doesn't work' period. Generally when you hear this it means the poster can't / hasn't to get it to work for them not that it can't work...there are so many ways to get a trading edge in this business and I know from my own experience that I do something day in day out that others have said cannot possibly be done and that the lower t/f's are all noise, only 4hr + counts etc...

Of course you gotta find your own way and decide who is wworth listening too, and who is not. A little humility from some more experienced thread participants would also go a long way..but hey that's only one guy's opinion.

G/L

BBmac... enjoy your analysis and appreciate you're attitude.. some good people on FF .. yeah some out and out idiots in places, but also some genuine vet and newb traders who are here with good intentions regardless of ability.

As regards doing things differently. everyone should be respected.. end of! What works for one doesnt always work for another and vice versa,(if we all did things by the same book and were the same people, the telephone directory would be pretty baffling) but some of the puffed up chest talk on here sometimes really is quite sad. Not sure what people get from that, hiding behind a username and avatar, boasting and posting as if they own the joint, trying to gain some kind of power/kudos on a public forum... i mean whats that all about seriously lol!!


With that in mind.. A bloke gets on a plane in Manchester for London because he doesnt like the the timetable for the trains, likes the speed and turbulence and a bloke gets on a train in Southampton for London because he is risk adverse to flying and likes the slower train. Both arrive in London at different times from different directions via different modes of transport.. what's important here is not the inevitable "who got there first...who won with a better edge and took the booty!" scenario. The important part is that they both found a way of getting there.

took a while, but a little bit of recovery overnight for me from last week thank goodness. looking for short at some point today

my take..
daily still up and bouncing off a potential point of confluence of TL's
1 hour in the kumo edging to break out to upside


p.s cant post chart as got ridiculous amounts of buy/sells plastered on them as testing other methods... you would need bifocals after viewing

gl

Good to see you. Thanks for putting all that into words . Absolutely agree.
Good luck today,and for the rest of this week..

hey popsi.. wish you all the best.. hope NFP treats you well and then santa of course..

NFP' s always good fun isnt it? I'm still looking to see what i'm gonna do today. I'm thinking if we get a 5 min candle break and hold above the 50 i'll go up , if not i'll go down. Only scalping ..thats all i ever do.

good to see a plan in action.. hope they are all winners for you..

p.s i scalp now and then but more on demo to try things out than anything.. how do you determine your rr on scalping or do you play it by ear on PA? .. i assume it takes a very disciplined mind to bail when scalping if price turns?

re NFP.. i am trying with this method to eradicate news fundi's etc.. if a trigger is met i fire.. on the rare occasions thus far i am still in trades when big news is out i just ride it, sometimes news spikes go for ya sometimes they don't

gl

neg. divergence forming on 5 min ...going short at 5632 ......have stop at swing high of 5648

thanks for the chart joemiami..

gonna join you short @ 15627 sl 15700 looking for 1:1 but will manage tp ongoing.

p.s i am not an experienced trader.. please do not follow even if the urge comes lol!

I play it by ear in terms of rr. i usually look for trades with sufficient momentum to carry me through the spread and into profit using a 20 pip stop. I sometimes edit the stop up to 30 or 40 depending on my faith in the trade. I frequently get out of a trade -15 to -20. I frequetly get out of a trade at +2-10 pips. Not good i hear you thinking. I constantly keep a track on my daily average and my level of confidence. Too much good stuff i close shop. Too much bad stuff i close shop.
I love news trading because of the increased surge in volume...such a buzz.
P.M me anytime Nab.
Good Luck
ps I'll be looking to go south if we get a 5min candle close below 15617