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Cable Update (GBPUSD)

  • #271,421
  • Feb 9, 2011 7:32am Feb 9, 2011 7:32am
Quoting USD-Bear
thanks Schoey,
could you explore a little on your expected Dow-drop?
Yes the last time we had a corection May 6th last year we are already lower than this on the volatility charts I have a position (short) with stop above the high.

I trade GBP/USD as my favoured pr and when/if we have a correction I will be holding all shorts on the cable may not happen for a week or so maybe tomorrow but something I am checking daily
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  • #271,422
  • Feb 9, 2011 7:38am Feb 9, 2011 7:38am
Quoting 45Condor
Speaking of breaks, it is now lunch, and I have little to show for a morning in front of the screens, so may call it a day. I tend to give back any small profits taken in the London session - assuming I am scalping for the day - or, if I don't trade the US session, I see nice movements that I miss. Can't win, really...
it's amazing how many times I've hit the buy or sell button and then realised that I'm standing in front of the train instead of getting on it...

I get run over much less now...
I treat every loss as a lesson i have just paid for...
I evaluate it for mistakes...identify areas for improvement and move on... in preparation for the next...

all of the traders that I have followed confess to doing long apprenticeships...and many many hours of unpaid work and self
evaluation...before coming to terms with it...

I figure why should I be any different... stick with it...
  • #271,423
  • Feb 9, 2011 7:38am Feb 9, 2011 7:38am
My reluctance with any of the indices is the current manipulation that is occurring. Basically, if anything does go, the whole stack of cards that our political and financial masters have stacked could come tumbling down, and that will serve no-one, least of all themselves, and so I am not sure any great fall will be allowed to happen.

To much fundamental concerns to note, but the interaction as of late between the US, Europe and China would suggest that all three are trying to balance things out as best they can.

Sure, it may come crashing, but then we are all buggered!

Dawlish - used to visit the Warren as a small boy. Bet the place has change since then. Ahem... plus 30 years or so since last I was there.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,424
  • Feb 9, 2011 7:42am Feb 9, 2011 7:42am
...absolutely. My semesters have been long and expensive. Still, glad that I put the time in, and now feel comfortable during the lessons. Lessons that will always present new problems. Pff, this course will never end.


Quoting Cobby
it's amazing how many times I've hit the buy or sell button and then realised that I'm standing in front of the train instead of getting on it...

I get run over much less now...
I treat every loss as a lesson i have just paid for...
I evaluate it for mistakes...identify areas for improvement and move on... in preparation for the next...

all of the traders that I have followed confess to doing long apprenticeships...and many many hours of unpaid work and self
evaluation...before coming to terms with it...

I figure why should I be any...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,425
  • Feb 9, 2011 7:43am Feb 9, 2011 7:43am
Quoting 45Condor
My reluctance with any of the indices is the current manipulation that is occurring. Basically, if anything does go, the whole stack of cards that our political and financial masters have stacked could come tumbling down, and that will serve no-one, least of all themselves, and so I am not sure any great fall will be allowed to happen.

To much fundamental concerns to note, but the interaction as of late between the US, Europe and China would suggest that all three are trying to balance things out as best they can.

Sure, it may come crashing, but...
Yes i'm just accross the road from the warren take the dog down everyday!
  • #271,426
  • Feb 9, 2011 7:47am Feb 9, 2011 7:47am
Ah, memories come flooding back. Shorts and crap plimsolls. Stupid vests, Grandfather's dog, fishing for Mackerel, one-arm bandit machines on Teignmouth pier... I'm filling up here, need to grab a tissue.

Quoting Schoey
Yes i'm just accross the road from the warren take the dog down everyday!
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,427
  • Feb 9, 2011 8:06am Feb 9, 2011 8:06am
Quoting fourxtrader
With so many UK members here:

The Betrayal Of Great Britain
http://www.bizzyblog.com/2011/02/08/...al-of-britain/

Dr. D.
Thanx for this link.
Just the right sort of quick fix on business news that i need.
On desktop filed " rapid headache cure".
kx
All systems of divination, like music itself,work through patterns.
  • #271,428
  • Feb 9, 2011 8:06am Feb 9, 2011 8:06am
Hello every one, can some help me with the understanding of PA, and confluence setups please? Is this a possible good setup for the USDCHF??

Thanks
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  • #271,429
  • Feb 9, 2011 8:28am Feb 9, 2011 8:28am
Quoting 45Condor
Ah, memories come flooding back. Shorts and crap plimsolls. Stupid vests, Grandfather's dog, fishing for Mackerel, one-arm bandit machines on Teignmouth pier... I'm filling up here, need to grab a tissue.
Flimsy Plimies...full of sand. Those one armed bandits putting muscles in your arms...and only three choices .. cherries, gold or luck.
Much the same these days, pass the tissues over.
All systems of divination, like music itself,work through patterns.
  • #271,430
  • Feb 9, 2011 8:45am Feb 9, 2011 8:45am
What will U expected for this weekend on Cable Projection further after Bernankee Testify today
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  • #271,431
  • Feb 9, 2011 8:50am Feb 9, 2011 8:50am
Quoting deryworlds
What will U expected for this weekend on Cable Projection further after Bernankee Testify today
Abolutely nothing 'till BOE rate anouncement tomorrow.
All systems of divination, like music itself,work through patterns.
  • #271,432
  • Feb 9, 2011 9:03am Feb 9, 2011 9:03am


Quoting kaspopsicle
Flimsy Plimies...full of sand. Those one armed bandits putting muscles in your arms...and only three choices .. cherries, gold or luck.
Much the same these days, pass the tissues over.

Hmm, noted yesterday that the 1.3713 for EU may be top, just hit, and will see where we go from here. If this had been morning push, would be shorting now.

Cable stopped at +1
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,433
  • Feb 9, 2011 9:05am Feb 9, 2011 9:05am
1.6095 top for Cable?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,434
  • Feb 9, 2011 9:08am Feb 9, 2011 9:08am
Erm... maybe a touch more, for both.

Excuse the posts today, PA not easy, so just filling the time.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,435
  • Feb 9, 2011 9:13am Feb 9, 2011 9:13am
hi again sorry to intervene here

just looking at the analysis wrote today by all the traders here and I agree with most of them.

what I don't agree is that today we have to trade
all the moves made today were made by the sharks.look at the last up move...I mean I had my longs that I closed for 60 pips now but still my small money could not lift the price that much

so....except for those up and down moves we only had some sideways and little candles.

not a good market to jump into....I had mine opened at the 5days low ...same as yesterday 1.6033...
  • #271,436
  • Feb 9, 2011 9:17am Feb 9, 2011 9:17am
Quoting 45Condor
Classic Guppy profile in the chart on my previous post.

As fourxtrader states, there is certainly no right or wrong MA collection, and different perspectives require different strategies.
I should reword by inserting this....

Originally Posted by fourxtrader http://www.forexfactory.com/images/buttons/viewpost.gif
[Remember, in trading, there are no 'wrong' MAs, only 'wrong' TFs
in a given chart set-up.]

"... no 'wrong' MAs, only 'wrong' TFs selected for your chosen MAs
in a given chart set-up."

Do you strictly stick to the Guppy profile of 12 lines (3-15 and 30-60)
for your EMA spread?

I've compared your 1H and it's a close equivalent when I pull up the
lower tfs (15M ~ 30M) with my widened deviation of 9 lines (6-144).

Which support our agreement that there are 'no wrong' MAs. Find the
correct tfs to match the current strategy and prevailing market condition.

Good stuff...

Dr. D.
  • #271,437
  • Feb 9, 2011 9:21am Feb 9, 2011 9:21am
Absolutely agree, this is not a market to take anything other than small lot scalps, should one be inclined to trade such pitiful PA.

However, I wish I had paid attention to the 15min pin earlier - was munching on a chicken sandwich - as that was a fairly obvious turning point for Cable.

Ah well, no losses today, so will invest the 1pip made wisely... a 2005 vintage Bordeaux, probably.

Quoting redbeben
hi again sorry to intervene here

just looking at the analysis wrote today by all the traders here and I agree with most of them.

what I don't agree is that today we have to trade
all the moves made today were made by the sharks.look at the last up move...I mean I had my longs that I closed for 60 pips now but still my small money could not lift the price that much

so....except for those up and down moves we only had some sideways and little candles.

not a good market to jump into....I had mine opened at the 5days low...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,438
  • Feb 9, 2011 9:21am Feb 9, 2011 9:21am
Quoting redbeben
hi again sorry to intervene here

just looking at the analysis wrote today by all the traders here and I agree with most of them.

what I don't agree is that today we have to trade
all the moves made today were made by the sharks.look at the last up move...I mean I had my longs that I closed for 60 pips now but still my small money could not lift the price that much

so....except for those up and down moves we only had some sideways and little candles.

not a good market to jump into....I had mine opened at the 5days low ...same as...
Agreed but baby they cancel the South For Today perhaps Friday
  • #271,439
  • Feb 9, 2011 9:23am Feb 9, 2011 9:23am
didn't expect cable to make such a much....
  • #271,440
  • Feb 9, 2011 9:28am Feb 9, 2011 9:28am
Quoting 45Condor
Absolutely agree, this is not a market to take anything other than small lot scalps, should one be inclined to trade such pitiful PA...
I would hardly call the daily range of 90 pips reached so far a market good for scalping only. I managed to leverage my entry down to 1.6045 so I do not complain, indeed.
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