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Cable Update (GBPUSD)

  • #273,841
  • Mar 10, 2011 8:01am Mar 10, 2011 8:01am
Quoting javapips
LOL that was me 1 year ago..,SL 10 pips and target always bigger than 100 pips..,
i don't know if that strategy is good or not, but mostly that will cause so many small lose, and some big win (that probably could cover all lose or atleast equal..,)
just becareful with over trade sir...
in that strategy i always get trap with this stupid math:

60 pips= 3%
if i could compress my SL to 10 pips only, so i could have 6 open possition... i think that simple math sound stupid right now..,cos with that i always end with 10 pips x 6 =60 pips...
Absolutely JP! That is why I scale out of my trades at sensible levels. I am not all-in, all-out. I am all-in, scale-out. You have to take profit off the table when they present themselves to you.

I used to have 10-15 trades per day, now it is more like 5-10 trades per week. I am slowly learning 'to let go'!
  • #273,842
  • Mar 10, 2011 8:14am Mar 10, 2011 8:14am
Long GU @ 1.60804
SL 1.606
TP 38.2 or 50% fib will be watching PA.

Comment: Aiming a bounce, probably a fakeout and don't think we'll close below last week's weekly low at 1.6071.
Make it rain baby
  • #273,843
  • Mar 10, 2011 8:15am Mar 10, 2011 8:15am
anybody buying, t/p hit on my short, i am now long at 1.6073, s/l 1.6050, t/p 1.6173
  • #273,844
  • Mar 10, 2011 8:18am Mar 10, 2011 8:18am
Quoting PoundTrader
anybody buying, t/p hit on my short, i am now long at 1.6073, s/l 1.6050, t/p 1.6173
if it breaks a new low expect further push down.
  • #273,845
  • Mar 10, 2011 8:20am Mar 10, 2011 8:20am
Quoting PoundTrader
if it breaks a new low expect further push down.
if it brakes the 1.6055 it has to go to 1.6030

normally it should go up to 1.6240 now and if it brakes to 1.6340

I am long since 1.6140 TP 1.6340...so you are not the only one out there..we can hold hands if you wish
  • #273,846
  • Mar 10, 2011 8:27am Mar 10, 2011 8:27am
I'm long from 1.612 I think I'm going to close my position. I see too much downward bias compared to aussie and euro
  • #273,847
  • Mar 10, 2011 8:39am Mar 10, 2011 8:39am
Quoting tommystery
I'm long from 1.612 I think I'm going to close my position. I see too much downward bias compared to aussie and euro
Position closed at 1.6085
  • #273,848
  • Mar 10, 2011 8:40am Mar 10, 2011 8:40am
Quoting PoundTrader
anybody buying, t/p hit on my short, i am now long at 1.6073, s/l 1.6050, t/p 1.6173
This is what I am looking at -

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 50 KB
  • #273,849
  • Mar 10, 2011 9:22am Mar 10, 2011 9:22am
i am still holding my short since yesterday from 1.61670,first take profit is at 1.6050 and i will let the rest run.i have attached my 4 hrs and daily cable charts.all de best to you guys.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd trade 10032011 fxpro 4hrs.gif Size: 30 KB
Click to Enlarge Name: gbpusd trade 10032011 fxpro daily.gif Size: 34 KB
  • #273,850
  • Mar 10, 2011 9:36am Mar 10, 2011 9:36am
Quoting bjpumping
i am still holding my short since yesterday from 1.61670,first take profit is at 1.6050 and i will let the rest run.i have attached my 4 hrs and daily cable charts.all de best to you guys.
Nice
  • #273,851
  • Mar 10, 2011 9:51am Mar 10, 2011 9:51am
GBP getting chopped to bits thanks to mervyn king.
  • #273,852
  • Edited 10:20am Mar 10, 2011 10:05am | Edited 10:20am
i'm in buy,
SL 100 pips,
target 1.64 (what else? ),
chart i already post it last week..


BTW this my 1000 post..,hehehehe...,i feel give nothing since my first post.. so sorry..
I will be the number one Manager.
  • #273,853
  • Mar 10, 2011 10:53am Mar 10, 2011 10:53am
hi all
today went away after BOE data and came back now

i read some posts....
about th SL i would say my little experience:
500-1000 pips stops is a non sense for me. -500 pips would have been a +500 in reverse mode.
same as on a 10 pips stops, coz a lot of time worst mistake is get inot a position 100% sure won't get a push of 10-20 pips then go in your way.
i saw this happenin maybe tens of times.
then depends on everyone's system: if you are sure of the position you can enter again after the 10 pips stop. but after a stop i think every one is 50% no more sure of the position

so i prefere enter the position where i would get 20 pips stop loss but let stop loss 70 pips. if something goes badly wrong i can hedge or i can close manually. yesterday i was short oil 105.65 stop loss 105.80. i got the stop then i was no more sure of the position n i waited. my target was 100.00. if some one ask me i will post the history of that position.

last thing. im long @6040 stop loss 5940
90% of traders use TA, indicators and prediction
  • #273,854
  • Mar 10, 2011 11:09am Mar 10, 2011 11:09am
Quoting javapips
i'm in buy,
SL 100 pips,
target 1.64 (what else? ),
chart i already post it last week..


BTW this my 1000 post..,hehehehe...,i feel give nothing since my first post.. so sorry..
target 1.64.....
you keep thinkin it is possible from here?
me too im long 6040 stop loss 5940 but target 6140
but looks like that kind of position i will close @0 % after seen it near the stop loss
90% of traders use TA, indicators and prediction
  • #273,855
  • Mar 10, 2011 11:28am Mar 10, 2011 11:28am
buy,tp 1.6120.pending order sell 1.6110 with target 1.5990 base on h4 sma200 bullish rejection.price may bounce back around 1.5980 sma50 on daily chart.
patient is my attitude, rushing is a dog
  • #273,856
  • Mar 10, 2011 11:36am Mar 10, 2011 11:36am
Quoting _BBKing_
target 1.64.....
you keep thinkin it is possible from here?
me too im long 6040 stop loss 5940 but target 6140
but looks like that kind of position i will close @0 % after seen it near the stop loss

OK
i have a bad feeling.
i closed long position
im settin buy limits @6010 n @5970

both stopping @5935
90% of traders use TA, indicators and prediction
  • #273,857
  • Mar 10, 2011 11:42am Mar 10, 2011 11:42am
after that long bearish candle on 4h, it might go down till 1.5960
there I might buy.
  • #273,858
  • Mar 10, 2011 11:50am Mar 10, 2011 11:50am
Quoting Abouelzelouf
after that long bearish candle on 4h, it might go down till 1.5960
there I might buy.
yes i think similar
what changed my mind is simply a feeling lookin h1 chart
has been bought 6070-6080 near
but after this another slip to 6035 without signs of recover.
there is no bulls here.

better wait after 19.00 gmt n see data
my orders 6015 n 5970 are very small
will add if i see signs of bulls comin in
90% of traders use TA, indicators and prediction
  • #273,859
  • Mar 10, 2011 12:16pm Mar 10, 2011 12:16pm
Depends on which TF you are following. Here's the current daily.
The pattern of penetrations of price through the energy levels
of EMAs has been broken as it now has dropped below the white
(36 EMA). So, will this signal the reversal if the daily candle closes
below this level? Judgement call.

Dr. D.
Attached Image
  • #273,860
  • Mar 10, 2011 12:17pm Mar 10, 2011 12:17pm
Here's a similar pattern seen months earlier on the daily
where the price retraced down to similar EMA levels before
dropping through the white 36 EMA. Did this signal a trend
reversal? Judgement call.

Dr. D.
Attached Image
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