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Cable Update (GBPUSD)

  • #274,821
  • Mar 28, 2011 2:50am Mar 28, 2011 2:50am
Quoting ndsouz
Gone Long 10lots @ 1.5990 SL - 1.5939 TP- Open
You sir, are insane. Or extremely wealthy
  • #274,822
  • Mar 28, 2011 2:59am Mar 28, 2011 2:59am
Quoting bman204
You sir, are insane. Or extremely wealthy
the last time he did something like this he said he made 20k in one day working with 20 lots...meaning some 100 pips on the move.
the next move he had was a 0.1 lot move

so...in my opinion he is pretty sure about a up move he just don't want to share with us where did he see this signal )
  • #274,823
  • Mar 28, 2011 3:03am Mar 28, 2011 3:03am
Never seen such a symmetric mountain/jelly/head & shoulders wotever . . (4hr chart)
Shame I wasn't trading last week . . 400 pips in a matter of days!! But where now? It's gone thru the fib 0% . . are we all waiting for the rebound??
  • #274,824
  • Mar 28, 2011 3:11am Mar 28, 2011 3:11am
Quoting bman204
You sir, are insane. Or extremely wealthy

or on a demo..and neither

have a good one guys bak back around 2-3pm for live commentary
  • #274,825
  • Mar 28, 2011 3:34am Mar 28, 2011 3:34am
Quoting redbeben
the last time he did something like this he said he made 20k in one day working with 20 lots...meaning some 100 pips on the move.
the next move he had was a 0.1 lot move

so...in my opinion he is pretty sure about a up move he just don't want to share with us where did he see this signal )
hi ndsouz.
Attached Image
  • #274,826
  • Mar 28, 2011 3:47am Mar 28, 2011 3:47am
Weekly told me to buy, might be a bit premature but housing rates in the US are expected to have a second drop so looks a nice buy.
  • #274,827
  • Mar 28, 2011 3:49am Mar 28, 2011 3:49am
Quoting redbeben
the last time he did something like this he said he made 20k in one day working with 20 lots...meaning some 100 pips on the move.
the next move he had was a 0.1 lot move

so...in my opinion he is pretty sure about a up move he just don't want to share with us where did he see this signal )
There's no such thing as SURE in forex. hope you know that. I just took the long trade as i think its come towards support area, unless it breaks below 1.5950 and down to my stoploss and below 1.5900. I think it should probably go up to the 1.60xx range.. which i anticipate.
To Your Success!!
  • #274,828
  • Edited 5:58am Mar 28, 2011 3:50am | Edited 5:58am
Quoting kaspopsicle
Talking correlation cable and usdchf reminded me of this post.
Thanks for putting this up , Kas - some good stuff to learn from in the ol' dudes posts

I update a couple of charts here USDCHF H4 - where we see this rejection of 9230 - Now we can see the inverse correlation to Cable breaking down as both pairs are headed south for the time being ...

... and EURGBP W1 - where we can see the pair continuing it's breakout of the wedge to the upside after making a doji in last weeks candle ...

All the best
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  • #274,829
  • Mar 28, 2011 3:50am Mar 28, 2011 3:50am
we are in middle of the psychology move and drama here better wait n see until us market open....
be patient, self-belief and discipline... stay focus...
  • #274,830
  • Mar 28, 2011 3:53am Mar 28, 2011 3:53am
Quoting bman204
You sir, are insane. Or extremely wealthy
heheh.. no bro .yes i am insane but not wealthy. my account is just 100,000 and if i want to target a 100,000 gain by the end of april. i got to like trade 10lots and do 1k pips for that.

im just a small dot in the market, wealthy traders probably have 10Million to 100million big accounts , probably trading minimum of 1000-10,000 lots at a time.

I know a guy who makes 250,000 a day trading forex.. thats what u call wealthy
To Your Success!!
  • #274,831
  • Mar 28, 2011 3:58am Mar 28, 2011 3:58am
Quoting bbakker
Looks like Posen won't be re-elected.

http://imarketnews.com/?q=node/28407

I am long from right down at the bottom of the demand zone (1.5963) and just bagged TP1... TP2 is at 1.6030.

I am looking to go short around 1.6060-1.6090.

Have a great day trading!
Oh dear... the bears are in full swing! Didn't make TP2, but I did move that SL to BE.

I think the next nice area for a long is around 1.5780ish with a SL below 1.5750. I can't see much between here and 1.5780 for any longs!

Correction: There is also a long around 1.5825ish
  • #274,832
  • Mar 28, 2011 3:59am Mar 28, 2011 3:59am
Quoting ndsouz
heheh.. no bro .yes i am insane but not wealthy. my account is just 100,000 and if i want to target a 100,000 gain by the end of april. i got to like trade 10lots and do 1k pips for that.

im just a small dot in the market, wealthy traders probably have 10Million to 100million big accounts , probably trading minimum of 1000-10,000 lots at a time.

I know a guy who makes 250,000 a day trading forex.. thats what u call wealthy
Did you get out of that long or are you still holding it?
  • #274,833
  • Mar 28, 2011 4:01am Mar 28, 2011 4:01am
Quoting bbakker
Did you get out of that long or are you still holding it?
Still holding.. increased my stops though to 1.5899.
To Your Success!!
  • #274,834
  • Mar 28, 2011 4:02am Mar 28, 2011 4:02am
Any longs now is just gambling,but if you want to go long less exposure than when trading with the trend.
  • #274,835
  • Mar 28, 2011 4:09am Mar 28, 2011 4:09am
ok ok now....it might go to 1.583X area as a last stop
but I don't know right now

my longs are still open with TP 1.64 so I can sit and wait for now
  • #274,836
  • Mar 28, 2011 4:18am Mar 28, 2011 4:18am
Quoting redbeben
ok ok now....it might go to 1.583X area as a last stop
but I don't know right now

my longs are still open with TP 1.64 so I can sit and wait for now
USD-index on the 1hour hasnt shown any signs of bullishness, infact its still bearish. But the problem is of britishpound-index on 1hour its terribly bearish right now, it just needs to get bullish again we should be on 1.6 hopefully...fingers crossed
To Your Success!!
  • #274,837
  • Mar 28, 2011 4:23am Mar 28, 2011 4:23am
i been short since 1.5984 with t/p at 1.5850
  • #274,838
  • Mar 28, 2011 4:28am Mar 28, 2011 4:28am
Quoting ndsouz
USD-index on the 1hour hasnt shown any signs of bullishness, infact its still bearish. But the problem is of britishpound-index on 1hour its terribly bearish right now, it just needs to get bullish again we should be on 1.6 hopefully...fingers crossed
ok here is what I see....I don't know how to look at the other index but I do use ichi and it tells me this

On W we are bullish and we have a perfect intersection on that.Kumo's are crossed and future kumo is bull,Cs above price line,and we have a nice galleon formed by the bear kumo and RSI did not touch the 70 level yet

This will normally take the GU up up up for some hundreds if not thousands of pips.Previous moves like this took it sometimes for even 2000 pips up.

the only bad thing now is the flat KS attracting the price as wel as the flat kumo.

this way the price might hit the 1.583X area where the flat KS is and bounce from that one.

This one could be it as stochs on W show us a continuation of the downtreand 'till that point.

the first TP on longs should be 1.64 as a mid term target and later where the EMA 200 will meet the price and then the sky at 1.66-1.70 and above.

this is how I see it at this early hour...and again I might be wrong as there are still 200 pips to go down for GJ and only then a bull move on that pair (I correlate them)

so what ever will be will be

I just hope your SL will not be touched.
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  • #274,839
  • Mar 28, 2011 4:38am Mar 28, 2011 4:38am
As we know last friday was awesome. Move from 1.6090 Breakout from london open was trigger the trend to reach support price at 1.6000. Yes i won, but because last friday is my 1st entry after almot 8 month silent from market without any blocking price so i was quite nervous while my position below 10 pips. .

Here i post my chart for daily trend by using Elliott wave prediction. Some how if i analyze back the previous trend for last week, GBPUSD was move 450 pip without any big retracement. By using this case most of trader will expect the truly pull back from bottom. But until now i did not see any reversal sign. Hence i expect it could be break more lower until next support at 1.5905.
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Artist lead and hacks ask for a show of hands.
  • #274,840
  • Mar 28, 2011 4:45am Mar 28, 2011 4:45am
Quoting ndsouz
Still holding.. increased my stops though to 1.5899.
I assume that when it gets close to 1.5899 you will increase those stops again. I can assure you that over the long-term, this is a losing strategy!

BTW, I am short now on a retest of breaking the demand zone -

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Have a nice day watching that long of yours go deeper in the red!
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