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Cable Update (GBPUSD)
- #273,341
- Mar 2, 2011 7:00am Mar 2, 2011 7:00am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #273,342
- Mar 2, 2011 7:03am Mar 2, 2011 7:03am
i agree one thing: durin NY session a lot of stops are triggered! yesterday also my short @6320 scaring me to get again the position. Next year maybe i will be in Melbourne so i will trade on asia session
the idea you are speakin about i dont understand very well..... have you got a picture to show better what you mean, please?
Apology English is my third Language..
Example
Today scenario,
after announcement of CONSTRUCTION PMI, 6298formed.
The highest lets say 6300; today lowest 6220 (different 80pips)
Price b4 the sudden BULL was 6260 ( increased 40 to 6300).
i open positon at 6280 expecting 6296(5mins bar showed bearish, w 2 bars).
after i opened position about <15mins it goes 6291(11pips),
and falled back to 6270. according to M5 6270 is the support for the Bull, triple bottom created on M5. SL 6250
From here u realized 30pips updown for about 55mins.
due to my greedyness 1 aimed for 16pips, i closed position in >1hour time.
Issue that i awared during this transaction were
EUROPE PPI which give positive news, strongly support me.
and Hourly Bar, during asia timing Hourly Bar love to close HIGH(i am buying), very FREAK to me. i just followed the tradision...
i closed @6295(not 6296) cause it keep me waiting at 6295 for 1mins(15mins show extreme uptrend), i lost my patience.. i dont enjoy updownupdown...
2mins later, it gave extra 20, what to do?
but nothing regret i still considered stick to my plan.
- #273,343
- Mar 2, 2011 7:08am Mar 2, 2011 7:08am
picked short 6314 target 6275.... but i really dont like it
here are the issue u considered, US OPEN, BEARISH should come in...
so why not aim for MORE..
in the same time u wanted to ridge the WAVE of ADP non Farm employment, dont u agreed.
- #273,344
- Mar 2, 2011 7:11am Mar 2, 2011 7:11am
M15, M30 Supporting u, which means u are doing the right thing, Fibo 23.6 is 25pips from the top, if u dont mind SMALL PROFIT.
here are the issue u considered, US OPEN, BEARISH should come in...
so why not aim for MORE..
in the same time u wanted to ridge the WAVE of ADP non Farm employment, dont u agreed.
- #273,346
- Mar 2, 2011 7:20am Mar 2, 2011 7:20am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
with more and more more......
90% of traders use TA, indicators and prediction
- #273,349
- Mar 2, 2011 7:27am Mar 2, 2011 7:27am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
Apology English is my third Language..
Example
Today scenario,
after announcement of CONSTRUCTION PMI, 6298formed.
The highest lets say 6300; today lowest 6220 (different 80pips)
Price b4 the sudden BULL was 6260 ( increased 40 to 6300).
i open positon at 6280 expecting 6296(5mins bar showed bearish, w 2 bars).
after i opened position about <15mins it goes 6291(11pips),
and falled back to 6270. according to M5 6270 is the support for the Bull, triple bottom created on M5. SL 6250
From here u realized 30pips updown for about 55mins.
due to...
uhm...
today i saw something like this in the picture.
lines n fibos are there since yesterday or monday after ny session.
price found buyers 6220 as expected
what was not expected was the stright breake of 6250.
then after breakin also 50% fibofan crashed against main resist 6300.
thats why it had to sit down in 6270 (support + 50% fibofan)
there i added longs till 6310
90% of traders use TA, indicators and prediction
- #273,350
- Mar 2, 2011 7:31am Mar 2, 2011 7:31am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
i hope u regret of not capturing many many pips, with POSITIVE US NEWS that rarely positve important news these 10days....
Booo
n we are very near a buy area.
better close n get these 30pips profits then im in front of pc
today already a lot of pips of profits.
will get again other position in few quarters
90% of traders use TA, indicators and prediction
- #273,351
- Mar 2, 2011 7:36am Mar 2, 2011 7:36am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
So between now and Thursday morning when the Services PMI numbers are released at 09:30 (GMT), I see sideway action, probably between 1.6220-1.6350. When the numbers are released watch the price action to see where price is heading. The trend is up, but we are in overbought territory and we have hit weekly supply. Saying that the indicators can stay in overbought (or oversold) territory for a long time, especially on the higher timeframes! Targets for any longs would be 1.6450, but it does look like a bigger retrace is imminent.
- #273,352
- Mar 2, 2011 7:36am Mar 2, 2011 7:36am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
i know what u mean ..for me that needs to print a bit higher a close above 1.6350..then im only looking for dips..i think it kinda in a critical place hence the very tight stop..theres some conflunce here also usd it practically knocked out..lol
Thank You 
- #273,353
- Mar 2, 2011 7:36am Mar 2, 2011 7:36am
Apology English is my third Language..
Example
Today scenario,
after announcement of CONSTRUCTION PMI, 6298formed.
The highest lets say 6300; today lowest 6220 (different 80pips)
Price b4 the sudden BULL was 6260 ( increased 40 to 6300).
i open positon at 6280 expecting 6296(5mins bar showed bearish, w 2 bars).
after i opened position about <15mins it goes 6291(11pips),
and falled back to 6270. according to M5 6270 is the support for the Bull, triple bottom created on M5. SL 6250
From here u realized 30pips updown for about 55mins.
due to my...
SUPER RISKY, DO NOT TRY IT @ HOME!
- #273,354
- Mar 2, 2011 7:38am Mar 2, 2011 7:38am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
I'd be looking 16280 for a long scalp (support/ema20 m15/DP)
very very great!
90% of traders use TA, indicators and prediction
- #273,355
- Mar 2, 2011 7:39am Mar 2, 2011 7:39am
According to CURRENT price it falled 40pips from the top and retrace 22pips now. total 7mins. SCALP In extreme Shortime.
SUPER RISKY, DO NOT TRY IT @ HOME!
May consider resell at6300
i do not enter havent DInner.
BEST OF LUCK
- #273,356
- Mar 2, 2011 7:39am Mar 2, 2011 7:39am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
According to CURRENT price it falled 40pips from the top and retrace 22pips now. total 7mins. SCALP In extreme Shortime.
SUPER RISKY, DO NOT TRY IT @ HOME!
Thank You
- #273,358
- Mar 2, 2011 7:43am Mar 2, 2011 7:43am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
bulls are making me angry!
i was waitin 6260.........
i was waitin 6260.........
90% of traders use TA, indicators and prediction
- #273,359
- Mar 2, 2011 7:44am Mar 2, 2011 7:44am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction
- #273,360
- Mar 2, 2011 7:46am Mar 2, 2011 7:46am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
bulls are making me angry!
i was waitin 6260.........
Thank You