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Cable Update (GBPUSD)

  • #269,341
  • Jan 20, 2011 11:58am Jan 20, 2011 11:58am
Quoting mrmat
The 1.588 level seems like a crucial point, needs to reverse here to keep downtrend intact IMO... Lets see how it plays out

The 382 Fib is right above here..
keepin downtrend intact? which downtrend? : p
Hero calls followed by margin calls...
  • #269,342
  • Jan 20, 2011 12:06pm Jan 20, 2011 12:06pm
Quoting PhAnTi'
keepin downtrend intact? which downtrend? : p
good day to you.

Gorgive me, but you were trading lower for a couple of days - no?

Have you shifted your thought?

Regards
  • #269,343
  • Jan 20, 2011 12:14pm Jan 20, 2011 12:14pm
Quoting TauTrader
Well done.

You seem to be consistent in your approach and your gains. May you prosper.

all the best

regards
Thanks mate - just got to remember not to get overconfident and give it back
  • #269,344
  • Jan 20, 2011 12:16pm Jan 20, 2011 12:16pm
Quoting iqyu5an
repeated ? nobody knows, imho

rgds,iqyu

daily tf
That's a tempting chart, long term trade hmm.. someday

Thanks Bro, am done for the day.
See u all tomorrow. G/L.

Regards,
GS
  • #269,345
  • Jan 20, 2011 12:21pm Jan 20, 2011 12:21pm
  •  mrmat
  • | Joined Sep 2010 | Status: One day I shall leave the temple | 131 Posts
The fundamental Case for GBP weakness is pretty good IMO. The Bank of England has a difficult choice before them. High inflation calls for higher rates, but with their economy slowing and about to get a boot to the face with the Austerity measures and public layoffs, they really cant raise rates (especially considering that most Brits are on floating rate mortgages). If i were in their shoes I would just endure a bit of inflation, lesser of two evils.
  • #269,346
  • Jan 20, 2011 12:24pm Jan 20, 2011 12:24pm
Good day to you,

My opinion

regards
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  • #269,347
  • Jan 20, 2011 12:56pm Jan 20, 2011 12:56pm
Good day to you,

Took some leave after my early short call on GU. Common knowledge. It is forming now, as we speak - but I must have lured a few members into following my comments - costing them. For this, I am truly sorry.

BUT - spending some time analizing my mental state, and analyzing the charts, the following:

* you have more than enough time to position yourself. Especially on the 15min and higher charts. PA wants you to enter ASAP - because you do not want to miss the move. Let me tell you - I have watched 10V traders on EU thread today, entering extremes. The market is designed to do this to us. Wait for the right time. CRUCIAL.

* How often do you find yourself entering a position to be stopped out - and then price goes your way? PLENTY. Same scenario as above... Wait patiently for the entry... this bugger is designed to mess with you. Know it.Embrace it. Trade it.

*Go study price bars - know what the average bar contains on the timeframe you trade. Extremes will often offer a lovely counter trade,

* Do not drink and trade - it messes you up.

This is me - out

Regards
  • #269,348
  • Jan 20, 2011 1:08pm Jan 20, 2011 1:08pm
Oh - and all you lurkers at the bottom...

Come on in. Join the thread - speak up...

Introduce yourself. Ask questions. Post your damned charts!

Come on, Dudes and Dudetts -

Let us make this a place of learning.
  • #269,349
  • Jan 20, 2011 1:18pm Jan 20, 2011 1:18pm
Quoting TauTrader
Oh - and all you lurkers at the bottom...

Come on in. Join the thread - speak up...

Introduce yourself. Ask questions. Post your damned charts!

Come on, Dudes and Dudetts -

Let us make this a place of learning.
Ive been trading currency for about 3 years now, yet I do not feel I have the knowledge to start offering my opinion. I was up 27% for the month, and yet here I find myself in a very difficult trade...

Why? because i broke my own rules that have served me well... I didnt place a stop loss. to many times I found that my SL was triggered with the price changing direction shortly after.

As I write this I see another PA up and I expect further UP action. Ive survived because Ive shaved my trade to avoid getting a margin call. I could have closed it all for about a 40% loss, but instead ill be looking at a 10% loss, an acceptable loss considering my moronic choice to not put a SL in the first place.

I learn most from my mistakes, but I choose not to have other people learn from the same mistakes. Mistakes cost money.

My single biggest flaw.. greed. Im getting better at it, waiting patiently for all the pieces to fall together, unfortunately for me I only waited for some of the pieces this trade. Sometimes though, all the pieces are there and it still goes the wrong way.
  • #269,350
  • Jan 20, 2011 1:18pm Jan 20, 2011 1:18pm
15925 is the fity!
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  • #269,351
  • Jan 20, 2011 1:21pm Jan 20, 2011 1:21pm
Quoting TauTrader
Oh - and all you lurkers at the bottom...

Come on in. Join the thread - speak up...

Introduce yourself. Ask questions. Post your damned charts!

Come on, Dudes and Dudetts -

Let us make this a place of learning.
What is the indicator you use with the dots?
  • #269,352
  • Jan 20, 2011 1:32pm Jan 20, 2011 1:32pm
Quoting TauTrader
Oh - and all you lurkers at the bottom...

Come on in. Join the thread - speak up...

Introduce yourself. Ask questions. Post your damned charts!

Come on, Dudes and Dudetts -

Let us make this a place of learning.
Ok,TT, I'll introduce myself, been lurking at the bottom for nearly a year now, about time I did I suppose, reading,watching & trying to learn.
Glad more of the senoir tradres are returning...slowly.
Have been in demo most of last year & ready to go live...I think

Julie
  • #269,353
  • Jan 20, 2011 1:34pm Jan 20, 2011 1:34pm
Quoting Hawki trader
Ok,TT, I'll introduce myself, been lurking at the bottom for nearly a year now, about time I did I suppose, reading,watching & trying to learn.
Glad more of the senoir tradres are returning...slowly.
Have been in demo most of last year & ready to go live...I think

Julie
Good luck to you and many green pips.
  • #269,354
  • Jan 20, 2011 1:38pm Jan 20, 2011 1:38pm
Quoting chazzle
15925 is the fity!
couldn't wait for the fity so short 15907
  • #269,355
  • Jan 20, 2011 1:43pm Jan 20, 2011 1:43pm
Quoting chazzle
couldn't wait for the fity so short 15907
Are you shorting on anything besides the 50 fibo? When I first started trading I tried using the fibo, but found it to be unreliable, so much in fact I dont even put it on my charts.
  • #269,356
  • Jan 20, 2011 1:48pm Jan 20, 2011 1:48pm
Quoting Exsilium
Are you shorting on anything besides the 50 fibo? When I first started trading I tried using the fibo, but found it to be unreliable, so much in fact I dont even put it on my charts.
Nah - probably wouldn't have gone in if I didn't see some decent resistance
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  • #269,357
  • Jan 20, 2011 2:00pm Jan 20, 2011 2:00pm
Quoting TexasforEX
Hello-

This is normally not a good time to trade but this retracement is an excellent place to enter a short to hold until London fix tomorrow....
I added it to my chart and I see that in the first week of Jan it was all over it, over it, under it... no clear direction. This dip under is like the dips under 2 weeks ago it would seem to me.

I suppose for the record I should state my goal of 16100. The break of 16000 imho is strongly indicative of bullish momentum.
  • #269,358
  • Jan 20, 2011 2:01pm Jan 20, 2011 2:01pm
long is back in play, im going long, good luck to all
  • #269,359
  • Jan 20, 2011 2:03pm Jan 20, 2011 2:03pm
Quoting Exsilium
I added it to my chart and I see that in the first week of Jan it was all over it, over it, under it... no clear direction. This dip under is like the dips under 2 weeks ago it would seem to me.
LOL. It is a close over/under which filters one of those spikes. Second, it broke above below TWO times.

If you can't use it than don't. My God, this is the response I get for sharing a true gem.

It is no wonder that alot of the real pros that have earned their stripes refuse to post anymore or truly use FF for entertainment value only.
"Timing Is Everything. Really I Swear It Is"
  • #269,360
  • Jan 20, 2011 2:03pm Jan 20, 2011 2:03pm
Quoting Exsilium
Ive been trading currency for about 3 years now, yet I do not feel I have the knowledge to start offering my opinion. I was up 27% for the month, and yet here I find myself in a very difficult trade...

Why? because i broke my own rules that have served me well... I didnt place a stop loss. to many times I found that my SL was triggered with the price changing direction shortly after.

As I write this I see another PA up and I expect further UP action. Ive survived because Ive shaved my trade to avoid getting a margin call. I could have closed...
Good day to you,

Welcome!

Thank you for posting. You will not believe this, but most of the traders here, or in any other thread - remain inconsistent.

They are just too smart. Thowing the worst at you. If there is one thing you must learn, is to be patient. All you need is 20 pips per day. GU moves 130 to 180 pips per day. You just need to capture 20. Take your time...

It is there for the taking. Trust me.

Please keep on sharing

Regards to you
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