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Cable Update (GBPUSD)

  • #272,801
  • Feb 23, 2011 9:57pm Feb 23, 2011 9:57pm
Quoting CoffeeDrinke
It seems you believe in the action, reaction theory, i do not trade it that way, as i confuse myself hehe, but i do believe it has its place.
Nice chart.

So whts your view on your chart, following the theory seeing as it supported on the bottem band, it should somewhere along the top find resistance so it broke top trendline/band(whtever) so you buy the pullback there or you waiting for a break below again with retrace then selling??
Because there is big resistance on that chart.

Thanks.
Yes. It is reaction I guess.

And that is exactly what I do most of the time.
But as you could see. It can be very tricky. And I have to be very fast.

Here is what I need to trade this Forex:
Attached Image
  • #272,802
  • Feb 23, 2011 10:08pm Feb 23, 2011 10:08pm
Quoting FerociousHit
Yes. It is reaction I guess.

And that is exactly what I do most of the time.
But as you could see. It can be very tricky. And I have to be very fast.

Here is what I need to trade this Forex:
LOL thats a great remote, though i think i would be tempted not to play games with that guy .
  • #272,803
  • Feb 23, 2011 10:13pm Feb 23, 2011 10:13pm
Thank you.

I am now Long @ 6215 for a little while.

What do you think?
  • #272,804
  • Feb 23, 2011 10:20pm Feb 23, 2011 10:20pm
Quoting FerociousHit
Thank you.

I am now Long @ 6215 for a little while.

What do you think?
Well where price is now im not looking at longs(not part of my plan) but to get in at 6215 is a pretty good price, well anticipated, hopefully it goes to take your TP.
GL.
  • #272,805
  • Feb 23, 2011 10:24pm Feb 23, 2011 10:24pm
Quoting CoffeeDrinke
Well where price is now im not looking at longs(not part of my plan) but to get in at 6215 is a pretty good price, well anticipated, hopefully it goes to take your TP.
GL.
Its of my opinion that if this current 15min candle closes IB but then closes down or as a doji and next bar breaks, then its a very good sign for your long.
Though im still not looking at longing.
But yet again, gl Mr. brave
  • #272,806
  • Feb 23, 2011 11:17pm Feb 23, 2011 11:17pm
Quoting CoffeeDrinke
Its of my opinion that if this current 15min candle closes IB but then closes down or as a doji and next bar breaks, then its a very good sign for your long.
Though im still not looking at longing.
But yet again, gl Mr. brave
Well, my entry was over reactionary.

I forgot to factor in the human element, and psychology of 6200.

Patience, is what I still need more of.

Still feeling Long here. I am holding on to my position.
Hope it pans out.
  • #272,807
  • Feb 23, 2011 11:37pm Feb 23, 2011 11:37pm
Quoting FerociousHit
Well, my entry was over reactionary.

I forgot to factor in the human element, and psychology of 6200.

Patience, is what I still need more of.

Still feeling Long here. I am holding on to my position.
Hope it pans out.
Yip maby alittle, well ok if this current bar closes pin(fakey) then im buying on close, so if it goes against me then hehe, then confort you in the fact we both lose heheehehe .
Yip patience sucks but it also sucks losing so i prefer patience hehe.
  • #272,808
  • Feb 23, 2011 11:44pm Feb 23, 2011 11:44pm
Quoting FerociousHit
Well, my entry was over reactionary.

I forgot to factor in the human element, and psychology of 6200.

Patience, is what I still need more of.

Still feeling Long here. I am holding on to my position.
Hope it pans out.
ouch really hammerd against you now wow
  • #272,809
  • Feb 23, 2011 11:49pm Feb 23, 2011 11:49pm
Quoting CoffeeDrinke
ouch really hammerd against you now wow
I am being whipped, and taught a lesson..
into submission and humility.

Huge draw-down right now. Sweating and cursing this one.

This better cycle back up, or I'm toasted immaculate.
  • #272,810
  • Feb 23, 2011 11:49pm Feb 23, 2011 11:49pm
closed sell order GBP/USD position 2 at 1,6164
  • #272,811
  • Feb 23, 2011 11:59pm Feb 23, 2011 11:59pm
I'm on 'The Rack'.
Attached Image
  • #272,812
  • Feb 24, 2011 12:00am Feb 24, 2011 12:00am
Quoting FerociousHit
I am being whipped, and taught a lesson..
into submission and humility.

Huge draw-down right now. Sweating and cursing this one.

This better cycle back up, or I'm toasted immaculate.
Damn it should but thats nasty draw down that you got there, you could of exited at break even.
This is wht i use if the trade looks bad, let me just clear my chart.

This works mainly coz the areas i use is S&R but ok i trust you bought on support i didnt check, but ok you see it touchd 6215 which you bought, then made pin it broke its low and then made up candle and the next candles close cleared those lows so it broke it, so its chopping alittle and indicating bearishness there, so your wisest option was to close the trade at breakeven.
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  • #272,813
  • Feb 24, 2011 12:04am Feb 24, 2011 12:04am
Opening the chart too late today. I was looking at possible support for this pair? Anyone have the same idea as me?
  • #272,814
  • Feb 24, 2011 12:11am Feb 24, 2011 12:11am
Sell Limit @ 1.6180
Target 1.5978...
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #272,815
  • Feb 24, 2011 12:17am Feb 24, 2011 12:17am
G/M

Daily S1 pivot and the 1hr ascending trend line is the current daily lo after the drop...Some 'minor' Uk data at 11am gmt. Drop likely caught a few longs out ?

G/L
Attached Image
ex member
  • #272,816
  • Feb 24, 2011 12:23am Feb 24, 2011 12:23am
Not shown on 1hr chart above and within the range shown on it are ; Under the current lo the 50% ' s of the 5963 anmd 5985 moves up to yesterday's 6275 hi...@ 6129 and 6119 respectively. G/L
ex member
  • #272,817
  • Feb 24, 2011 12:24am Feb 24, 2011 12:24am
morning guys...looking for scalps here or there
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  • #272,818
  • Feb 24, 2011 12:27am Feb 24, 2011 12:27am
Quoting chazzle
morning guys...looking for scalps here or there

1min led the way on the pullback with the regular bullish divergence.

G/L
Attached Image
ex member
  • #272,819
  • Feb 24, 2011 12:29am Feb 24, 2011 12:29am
Quoting CoffeeDrinke
Damn it should but thats nasty draw down that you got there, you could of exited at break even.
This is wht i use if the trade looks bad, let me just clear my chart.

This works mainly coz the areas i use is S&R but ok i trust you bought on support i didnt check, but ok you see it touchd 6215 which you bought, then made pin it broke its low and then made up candle and the next candles close cleared those lows so it broke it, so its chopping alittle and indicating bearishness there, so your wisest option was to close the trade at breakeven.
You are so right. I should have closed break even.

But I got captivated by each new lower level.
And It's hard to trust the oscillators anymore.

Sometimes I just stare blankly at the screen and watch my equity go down. I do nothing, I just stare at the screen in shock.

Now my equity is down 15% in 15 minutes.

Ohhh boy...
  • #272,820
  • Feb 24, 2011 12:38am Feb 24, 2011 12:38am
Quoting bbmac

G/L
thanks BB - hope you're well , I took the short- a little below the line and out for a few
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