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Cable Update (GBPUSD)

  • #266,801
  • Dec 16, 2010 10:26am Dec 16, 2010 10:26am
Quoting bbakker
And got left with a wooden leg for all his troubles, when trouble seemed so far away! See ya!



Sharp as a razor
  • #266,802
  • Dec 16, 2010 10:38am Dec 16, 2010 10:38am
Quoting bbakker
And got left with a wooden leg for all his troubles, when trouble seemed so far away! See ya!
Women and money go apart
  • #266,803
  • Dec 16, 2010 11:00am Dec 16, 2010 11:00am
Quoting Nene
.....any real correction. But I am carefull around the holidays.
Careful around the holidays?

Well there Jimbo, is that why you closed off all of your other dogshit trades from the Absolute top and pinnacle of this weekly candle and only hold 1?

A quick review of your cable 101 shows that you had several positions from the top of the week, and now only hold one...if you are so bull minded, why did you close all your other losers?


Seriously?

Chart 1, posted on Neners thread HERE.
Chart 2, His current holdings...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nene1.gif Size: 27 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,804
  • Dec 16, 2010 11:12am Dec 16, 2010 11:12am
Quoting TauTrader
Okie, dokie

Back to business.

Closed UJ shorts. +32. ( 2 positions) Entered short GU @ 1.5612.

Regards
Mr. TT I'm very sorry if this is out of date, I'm impressed with your trade and trying to follow your logic about entry point. and came up with this question: On yesterday rally, did you or would you enter your trade at this point (white shape)?
Thank you in advance.

Regards,
Attached Image (click to enlarge)
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  • #266,805
  • Dec 16, 2010 11:16am Dec 16, 2010 11:16am
Quoting Magix
Careful around the holidays?

Well there Jimbo, is that why you closed off all of your other dogshit trades from the Absolute top and pinnacle of this weekly candle and only hold 1?

A quick review of your cable 101 shows that you had several positions from the top of the week, and now only hold one...if you are so bull minded, why did you close all your other losers?


Seriously?

Chart 1, posted on Neners thread HERE.
Chart 2, His current holdings...
ouch.one has to ask why no sl?
  • #266,806
  • Dec 16, 2010 11:17am Dec 16, 2010 11:17am
Quoting Magix
Careful around the holidays?

Well there Jimbo, is that why you closed off all of your other dogshit trades from the Absolute top and pinnacle of this weekly candle and only hold 1?
I was mistaken...

Jimbo didn't close all of his trades except for 1...He closed all of his trades and bought again...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,807
  • Dec 16, 2010 11:24am Dec 16, 2010 11:24am
Quoting Ineedpips9
ouch.one has to ask why no sl?
Nene is a dough-nut delivery boy who trades dimes off of a daily chart.

If he stuck to what he knows, like road maps and how to fix flat bicycle tires he would most likely be a lot better off...

Trading isn't for everybody, and Nene happens to be one of them.

It is alright to compare data and charts and talk through what some may understand or misunderstand, but I would no sooner follow him into a trade based on his charts then I would follow him into a bathroom stall...

Some of that bullshit has to be leaked out to keep him from exploding.

I as well as others have tried to caution new traders about following Nene and his analysis...and when he continues to post tripe like this, I must continue to hopefully serve as the voice of reason.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,808
  • Dec 16, 2010 11:35am Dec 16, 2010 11:35am
Quoting Magix
Nene is a dough-nut delivery boy who trades dimes off of a daily chart.

If he stuck to what he knows, like road maps and how to fix flat bicycle tires he would most likely be a lot better off...

Trading isn't for everybody, and Nene happens to be one of them.

It is alright to compare data and charts and talk through what some may understand or misunderstand, but I would no sooner follow him into a trade based on his charts then I would follow him into a bathroom stall...

Some of that bullshit has to be leaked out to keep him from exploding....
so i've noticed.funny how whenever someone has something negative to say about you magix, the one thing they never say is that your charts and analysis are wrong. This seems to be apparent in this thread and the fibre thread from what I've witnessed.Wierd.

as for the recent conversation in the fibre thread.I actually burst out laughing while reading it.Had I been reading it while it was actually happening instead of checking the charts I would have mentioned the fact that it doesn't matter really about the voucher count.I don't have any and don't really care about them.What matters is insight.Go back and back test what traders are saying and see what the results are, then make your own judgements.I know for a fact that your charts aren't just a bunch of supercool indicators, the things have meaning.Owell. Different strokes.Keep the greenies in your account my friend.
  • #266,809
  • Dec 16, 2010 11:37am Dec 16, 2010 11:37am
Quoting gsantri
Mr. TT I'm very sorry if this is out of date, I'm impressed with your trade and trying to follow your logic about entry point. and came up with this question: On yesterday rally, did you or would you enter your trade at this point (white shape)?
Thank you in advance.

Regards,
Good day to you,

My reasoning for entering the trade a couple of days ago, was based on a set of rules. Price was coming out of a major Daily resistance area and certain conditions were met.

The area you have marked, could have been a good entry point - yes, as it was a rejection of last week's opening price @ 1.5758, (key level) as well as a rejection of the 50% line of last week @ 1.5757.

I can not comment on the trendlines / guidelines you have on your chart, as I do not know how these came about.

It is a good idea to mark levels on your chart - like weekly opening prices, Daily opening prices, monthly opening prices, daily highs and lows, weekly highs and lows etc. You will be surprised how many times these come into play as we go.

I hope this answers your question

Regards and all the best
  • #266,810
  • Dec 16, 2010 11:44am Dec 16, 2010 11:44am
Quoting Ineedpips9
so i've noticed.funny how whenever someone has something negative to say about you magix, the one thing they never say is that your charts and analysis are wrong. This seems to be apparent in this thread and the fibre thread from what I've witnessed.Wierd.

as for the recent conversation in the fibre thread.I actually burst out laughing while reading it.
That guy was amusing...but I must admit, I was the one that threw the first punch on that one...he was just hammering on some people that really don't need or deserve his brand of shenanigans...

I can take the heat..I just can't believe the wuss ignored me after only 3 replies. Sheesh, he needs about 150cc's of "Man the Fawk Up", if he wants to continue on in this place...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,811
  • Dec 16, 2010 11:45am Dec 16, 2010 11:45am
action building on the 5M chart. Lets see if she pushes through and confirms. If so, this thing could get REALLY ugly tonight.
If she gets around the 5580-5575 area this thing might be headed waaay down.Or, because of the time of year/week, could be feeling crazy. who knows.Stay safe.
  • #266,812
  • Dec 16, 2010 11:50am Dec 16, 2010 11:50am
Quoting Ineedpips9
action building on the 5M chart. Lets see if she pushes through and confirms. If so, this thing could get REALLY ugly tonight.
If she gets around the 5580-5575 area this thing might be headed waaay down.Or, because of the time of year/week, could be feeling crazy. who knows.Stay safe.
I think we might find the answers in the M30 chart...

We are closing above daily open, though not strong. A touch back on the hulls could trigger the back fill for volume on the chart and bring us back into the M30 resistance zone...

Sherpa 30?
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,813
  • Dec 16, 2010 11:56am Dec 16, 2010 11:56am
Quoting Magix
That guy was amusing...but I must admit, I was the one that threw the first punch on that one...he was just hammering on some people that really don't need or deserve his brand of shenanigans...

I can take the heat..I just can't believe the wuss ignored me after only 3 replies. Sheesh, he needs about 150cc's of "Man the Fawk Up", if he wants to continue on in this place...
I totally understand.When you're new to this forex thing trying to figure things out this forum can be REALLY intimidating.You don't know what to do or who to ask and when you have someone putting down or picking on every single post you make, you really can take it hard.I know my first couple of questions were really the definition of a newbie(i.e. why is it called cable?). In settings like this, people like you are really needed.Even if you didn't post about your own trading strategies or opinions, just to have someone who can keep some sort of order is good.I noticed a while back you or someone like an admin you contacted actually removed someone and there posts because it just wasn't needed.That's really reasurring for traders like me.

Anyways, if this thing doesn't play out on the 5M I will probably just wait until late London close/NY open and then next week.No need to risk it. One of the traders in the book I'm reading now keeps saying "It's actually easy to make money, the hard part is not loosing it."
  • #266,814
  • Dec 16, 2010 11:57am Dec 16, 2010 11:57am
Quoting TauTrader
Good day to you..

I can not comment on the trendlines / guidelines you have on your chart, as I do not know how these came about..

I hope this answers your question

Regards and all the best
Yes it helps me a lot. Thank you.
If not troubling you, please comment about the trendlines, here I zoom out the chart.

Regards
Attached Image (click to enlarge)
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  • #266,815
  • Dec 16, 2010 12:09pm Dec 16, 2010 12:09pm
Quoting Magix
I think we might find the answers in the M30 chart...

We are closing above daily open, though not strong. A touch back on the hulls could trigger the back fill for volume on the chart and bring us back into the M30 resistance zone...

Sherpa 30?
for sure the overall trend (which I still do take off the 30M) is still giving me the feeling of heading north.But I was looking to see where to load up on using the 1M and 5M charts.At the time it was going through a mini dip and seemed as though it wanted to test the 200ma again. I've been taking little 5 and 10 pip runs off of these since this mourning so I had completely forgotten about overall outlook.
But your definetly right. Sherpa is coming up on the 30. She's probably headed towards kissing the 5735 area.
  • #266,816
  • Dec 16, 2010 12:16pm Dec 16, 2010 12:16pm
Quoting gsantri
Yes it helps me a lot. Thank you.
If not troubling you, please comment about the trendlines, here I zoom out the chart.

Regards
Good day to you,

Your trendlines seem fine. The light pink upper trenline is a weak trendline, though. Trendlines can be extremely subjective and one can find them all over the place - normally drawn to fit ones biased view.

Two rules you can apply on trendlines -

1) Always start your trendline at a fractal high or low
2) Should touch at least 3 points. 2 will not do. 4 is even better.

Maybe some of the other traders can expand.

Regards
  • #266,817
  • Dec 16, 2010 12:24pm Dec 16, 2010 12:24pm
Quoting Ineedpips9
for sure the overall trend (which I still do take off the 30M) is still giving me the feeling of heading north.But I was looking to see where to load up on using the 1M and 5M charts.At the time it was going through a mini dip and seemed as though it wanted to test the 200ma again. I've been taking little 5 and 10 pip runs off of these since this mourning so I had completely forgotten about overall outlook.
But your definetly right. Sherpa is coming up on the 30. She's probably headed towards kissing the 5735 area.
Sherpa 60 seems most probable as it will be the complete chart fill area.

5m is currently showing support and positive on the day...

Unless we see an all out mass Exodus on in the next 90 mins, it would seem that any trigger off the 20 would be another step in the the fill area. Watch price at roll over and as long as we stay above we might be onto something....
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,818
  • Dec 16, 2010 12:29pm Dec 16, 2010 12:29pm
Quoting Magix
Sherpa 60 seems most probable as it will be the complete chart fill area.

5m is currently showing support and positive on the day...

Unless we see an all out mass Exodus on in the next 90 mins, it would seem that any trigger off the 20 would be another step in the the fill area. Watch price at roll over and as long as we stay above we might be onto something....
gotcha. yea I'm done with the 5-10 pip plays off the 200ma on the smaller tf's.
  • #266,819
  • Dec 16, 2010 12:32pm Dec 16, 2010 12:32pm
Quoting Ineedpips9
gotcha. yea I'm done with the 5-10 pip plays off the 200ma on the smaller tf's.
Divide and conquer...

Drop your daily plays in and 5-10 a few...As you full well know, they all add up my friend.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #266,820
  • Dec 16, 2010 12:37pm Dec 16, 2010 12:37pm
Quoting TauTrader
Good day to you,

Your trendlines seem fine. The light pink upper trenline is a weak trendline, though. Trendlines can be extremely subjective and one can find them all over the place - normally drawn to fit ones biased view.

Two rules you can apply on trendlines -

1) Always start your trendline at a fractal high or low
2) Should touch at least 3 points. 2 will not do. 4 is even better.

Maybe some of the other traders can expand.

Regards
Seems that you read my mind.
2 rules you mention surely will convinced me about the power of the trend lines.

Thank you very much Mr.TT all I can say is best of luck for you.

Regards
gsantri
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