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Cable Update (GBPUSD)

  • #267,701
  • Dec 30, 2010 6:36am Dec 30, 2010 6:36am
Quoting chazzle
Best way sometimes Ctic ...
Very true... I used to sit here and watch all my trades all the time. Now I do my analysis, place the trade (or OCO) set the stops, and go about life. I found that watching a trade go against me pisses me off, so I may as well not watch. If it hits my stops I say well screwed that one up. If it doesn't, I missed all the aggrevation of it going against me. I get to just see the green pips.

I don't like being married to the charts anymore.
  • #267,702
  • Dec 30, 2010 6:37am Dec 30, 2010 6:37am
Quoting beginnerluck
I am waiting for 5450 for my last trade of the year. Happy New Year, everyone!
To go short or long?? and why 5450?? that is like dead center of the sideways channel.. Could go either way from there..
  • #267,703
  • Dec 30, 2010 7:38am Dec 30, 2010 7:38am
I'm betting on Inverted H&S on H4 and I'm in from 15415
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  • #267,704
  • Dec 30, 2010 8:23am Dec 30, 2010 8:23am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 15 KB


my support and resistance trade levels

-----------

gann swing

.
  • #267,705
  • Dec 30, 2010 9:15am Dec 30, 2010 9:15am
Quoting chazzle
I'm betting on Inverted H&S on H4 and I'm in from 15415
I slapped another 50% on this trade @ 15445 bringing the average to 15425 - the stop is below today's low @ 15390 (35 pips) and the final target is 15515 (90 pips) so RR is @ 1:2.5
  • #267,706
  • Dec 30, 2010 9:30am Dec 30, 2010 9:30am
euro will follow also
I will be the number one Manager.
  • #267,707
  • Dec 30, 2010 9:44am Dec 30, 2010 9:44am
hope all is well
  • #267,708
  • Dec 30, 2010 9:44am Dec 30, 2010 9:44am
The dollar weakened broadly on Thursday hitting a 7-week low against the Yen, a 28-year low against the Australian dollar and an all time low against the Swiss Franc. While the dollar might not be the most attractive currency because of the persisting QE by the Fed other currencies where seen gaining against the greenback. The Euro is still not the most favourable currency though either as euro zone debt issues are mitigating the currencies gains and diverting investors focus to more stable economies as the Yen, the Franc and also the Aussie.

The dollar slipped as low as 81.28 Yen, and is seen getting closer to its 15-year low of 80.21 hit in November. As thin trading volumes because of New Year’s holiday tend to exaggerate currency moves it is possible for the pair to reach its post-war low of 79.75 hit back in 1995 and even breach it. Information on US initial jobless claims expected in later these days can give an additional hit of the country’s recovery.
{Promotion Removed}
  • #267,709
  • Dec 30, 2010 9:45am Dec 30, 2010 9:45am
Quoting chazzle
I slapped another 50% on this trade @ 15445 bringing the average to 15425 - the stop is below today's low @ 15390 (35 pips) and the final target is 15515 (90 pips) so RR is @ 1:2.5
and thats how you go from 50 up to 35 down in less than 45 minutes ... god I'm good
  • #267,710
  • Dec 30, 2010 9:48am Dec 30, 2010 9:48am
Quoting chazzle
I slapped another 50% on this trade @ 15445 bringing the average to 15425 - the stop is below today's low @ 15390 (35 pips) and the final target is 15515 (90 pips) so RR is @ 1:2.5
I hope your OK bro. I cannot trust this SOB so that's the reason for simply watching and not trading. It looked quite bullish but then moved south rapidly. I don't know if you use it but i would definately recommend using the stochastics on IG market platform. You bought when the stochastics on the 15 minute was in the overbought area after which it dropped heavily. I'm sure it will make a huge difference GL.
You've got to be IN IT to WIN IT!
  • #267,711
  • Dec 30, 2010 9:56am Dec 30, 2010 9:56am
Quoting Ifty
I hope your OK bro. I cannot trust this SOB so that's the reason for simply watching and not trading. It looked quite bullish but then moved south rapidly. I don't know if you use it but i would definately recommend using the stochastics on IG market platform. You bought when the stochastics on the 15 minute was in the overbought area after which it dropped heavily. I'm sure it will make a huge difference GL.
I'm fine Ifty , no worries Bro - somehow I'm still up over the last couple of weeks trading.I may just take you up on your advice re. stochastics
  • #267,712
  • Dec 30, 2010 10:00am Dec 30, 2010 10:00am
Quoting chazzle
I'm fine Ifty , no worries Bro - somehow I'm still up over the last couple of weeks trading.I may just take you up on your advice re. stochastics
have a lot of respect for your stainless steel balls but hopefully the stochastics and/or RSI will make them even stronger .
You've got to be IN IT to WIN IT!
  • #267,713
  • Dec 30, 2010 10:05am Dec 30, 2010 10:05am
Quoting chazzle
and thats how you go from 50 up to 35 down in less than 45 minutes ... god I'm good
Sorry to hear Chad. I have found in my experience that when its in a sideways channel at a major spot like this is that it goes from top wall to bottom wall. Engulfing candles, indicators etc. does not mean crap. Hence why you play wall to wall until it breaks.

You will get them back. Take care

C.
  • #267,714
  • Dec 30, 2010 10:06am Dec 30, 2010 10:06am
Quoting Ifty
have a lot of respect for your stainless steel balls
Attached Image
  • #267,715
  • Dec 30, 2010 10:08am Dec 30, 2010 10:08am
[quote=chazzle;4275287]

BTW make sure you use the settings 14,3,3. Let me know what you think after a few days of trying it out. I'm sure you will see the pattern up and down.
You've got to be IN IT to WIN IT!
  • #267,716
  • Dec 30, 2010 10:09am Dec 30, 2010 10:09am
Quoting Ctic
Moved sl to 5500.. Done trading for the year now... will just ride this one out.
Moved so to 5460. Green no matter what now.
  • #267,717
  • Dec 30, 2010 10:10am Dec 30, 2010 10:10am
[quote=Ifty;4275295]
Quoting chazzle


BTW make sure you use the settings 14,3,3. Let me know what you think after a few days of trying it out. I'm sure you will see the pattern up and down.
will give it a crack
  • #267,718
  • Dec 30, 2010 10:14am Dec 30, 2010 10:14am
Quoting Ctic
You will get them back. Take care

C.
Thanks C
  • #267,719
  • Dec 30, 2010 10:29am Dec 30, 2010 10:29am
Quoting Ctic
Went short@ 5504 put in 55 pip sl
Don’t want to be greedy. Closed trade @ 5377 for +127. Out for the year unless my OCO orders trigger.

Take care everyone and trade safe.

C.
  • #267,720
  • Dec 30, 2010 11:18am Dec 30, 2010 11:18am
Quoting Ctic
Very true... I used to sit here and watch all my trades all the time. Now I do my analysis, place the trade (or OCO) set the stops, and go about life. I found that watching a trade go against me pisses me off, so I may as well not watch. If it hits my stops I say well screwed that one up. If it doesn't, I missed all the aggrevation of it going against me. I get to just see the green pips.

I don't like being married to the charts anymore.
Story of my life. If you look back to some of my posts over the year you'll see this was a huge problem for me. If I sat and watched a 15-20 pip move against me I would let emotions get to me and close the trade, thinking I'm cutting my losses short.Then, about an hour or so later I would see the pa move to where I thought it was originally going.I know just check the charts early mourning (usually around 6 during a regular day,not like now during the holidays) and because the volatility is so high there are usually around 4-5 setups within two hours on cable and fibre alone.I place my trades,eat,shower, and just before I leave for campus check the charts again. If I have no less than one loss I check for another setup.With cable,fibre,dragon, and now the aussie and new zealand vs. the dollar there are usually 1-3 setups forming so I place them and I'm out the door. I'm glad I have classes now because it forces me to stop watching.This is why I haven't been able to post on the forum as often as before.But because I have alot of computer science classes now I can check my charts and the forum when I get to campus.

Anyways,this last move down just gave me my daily fixing of two 15-pip cable trades.As we are approaching yesterday's low,I'm gonna sit on the sidelines.If she breaks through 5361 I will pay attention to see if plays with the 200ma on the 1m and 5m charts. If she confirms on these tf, north might be where the light is.

Just my 2 cents.Gotta go into town to return my toshiba laptop.For some reason the battery keeps wobbling.Be back this afternoon.
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