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Cable Update (GBPUSD)

  • #276,481
  • Apr 14, 2011 6:35pm Apr 14, 2011 6:35pm
Projection shows we'll be topping out in 28hrs 4560 that puts us into the weekend? Short there target 4260 But will have to look at it hard because the end of these runs are crazy to work out. And then a new cycle will begin and will take me ages to see what it is. But right now I'm showing Resistance at 4510 down to support at 4455 and rising wedge up to Friday close.
Founder of Sutherland Wave Principle
  • #276,482
  • Apr 14, 2011 7:18pm Apr 14, 2011 7:18pm
Quoting sphinx8
I keep reading every single post "non-stop" for the past 2 weeks..... and..... hard to say what to conclude....
some say next week we will hit 1.67 and others 1.59.... hmmmm?
is there really a way to "predict".... no offense but after all the major changes in post 2008 I lost all my believes about trading and stocks as being some sort of nice "white coat science" following some reasonable fundamentals - it is just one hell of a casino, gamble and insiders...
Welcome, and it's good to express your thoughts, but I am concerned if you think it's a casino and like gambling.

I'm not exactly sure what 'white coat science' might be, but it sounds like a statement regarding pure technicals?

Regardless, if you feel it's like a casino and gambling, I think you should stop trading until you can feel some level of confidence in whatever system you might be following; looking to others who say it's going 400 pips north or 400 south, means you're looking for a signal service, without any eye to getting out at a certain point if you/they are wrong. You need to find and practice a system that you have proved works for you - traders use combinations of many very unique systems, but can come to similar conclusions. You need to find the one that works for you, and if you like, and perhaps use the reasoning given by the 1.59 or 1.67 camp to supplement your bias and thought process.

Both of those parties who are guessing 1.59 or 1.67 can be profitable, either on a partial move, or by validation that one is wrong, seeing/confirming/acknowledging the pair is going in the opposite direction, and recovering/rejigging their plan to take advantage of that new information. We all make mistakes, but getting out early, and money management will limit one's losses, and increase profitability.
  • #276,483
  • Apr 14, 2011 7:40pm Apr 14, 2011 7:40pm
Well said? I am new to this but what you said made good sence to me. Thanks - keep it up!
  • #276,484
  • Apr 14, 2011 7:41pm Apr 14, 2011 7:41pm
I'm long... last week candle did make a new high on a candle with large momentum. the pair is trending on a upward channel so no reason for me to go short. target 1.6775 region last high from 2009
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  • #276,485
  • Apr 14, 2011 9:18pm Apr 14, 2011 9:18pm
Quoting TauTrader
Good day to you,

Short entered - 1.6348 - SL 1.6380 area.

Regards
Closing this silly attempt for -4

Regards
  • #276,486
  • Apr 14, 2011 9:58pm Apr 14, 2011 9:58pm
Quoting TauTrader
Closing this silly attempt for -4
Oh No! It was actually a good trade - after I made my forum submission a few hours ago, I realized you had come to the same conclusion to short as did I!

Unfortunately looks like Murphy's Law got in the mix here --- I think within a few minutes of you closing for a loss, the short would have worked out: was at 633 a moment ago, and I think eventually heading lower - DPP and prev high at 63088 still calling IMO. Good news is that it seems that top TL from my H1 chart is still holding and the rise up to saw both spot sellers and a less evident amount of sellers on 6B futures. Glad it was only 4 pips - you'll easily get that back on your next trade. Still think we're visiting some downside, just hard to predict how far before the true London PA takes hold.
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  • #276,487
  • Apr 14, 2011 10:29pm Apr 14, 2011 10:29pm
Quoting Beljevina
Oh No! It was actually a good trade - after I made my forum submission a few hours ago, I realized you had come to the same conclusion to short as did I!

Unfortunately looks like Murphy's Law got in the mix here --- I think within a few minutes of you closing for a loss, the short would have worked out: was at 633 a moment ago, and I think eventually heading lower - DPP and prev high at 63088 still calling IMO. Good news is that it seems that top TL from my H1 chart is still holding and the rise up to saw both spot sellers and a less evident amount...
Good day to you,

You are probably right. My entry was not ideal - and that made me nervous. So - better to rather pull the trade as there will be plenty others to come. I had an initial target of 1.6310 - 1.6320.

I normally expect price to move in my direction within minutes after entry, as I wait patiently to get the best possible entries - the fact that price stalled on me - also confirmed that I sold in a less-than-ideal spot ( by my rules).

I am currently in two minds about the area we are finding ourselves in - so it will be scalping with caution.

Nice chart posted, good comments made. I thank you for that.

All the best to you for the sessions ahead.

Warm regards
  • #276,488
  • Apr 14, 2011 10:42pm Apr 14, 2011 10:42pm
Hopefully it can break this pivot and head south.
  • #276,489
  • Apr 15, 2011 12:49am Apr 15, 2011 12:49am
Quoting ferndog
Hopefully it can break this pivot and head south.
  • #276,490
  • Apr 15, 2011 1:13am Apr 15, 2011 1:13am
Good morning, I think south
  • #276,491
  • Apr 15, 2011 1:13am Apr 15, 2011 1:13am
good morning/evening/night

me.... im still long
stops below yesterday's demand area near 6300
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #276,492
  • Apr 15, 2011 1:19am Apr 15, 2011 1:19am
Quoting _BBKing_
good morning/evening/night

me.... im still long
stops below yesterday's demand area near 6300

i identify buy area on blu rectangle.
white dotted lines are daily fibo channels
if today price won't go n close below 6300 i expect up above 6385.
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #276,493
  • Apr 15, 2011 1:22am Apr 15, 2011 1:22am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Finally I see some familiar names coming back to the forum , I know who you are if you remember who I am


Glad if we could ensure to group together with the like minded and ignore the one's we do not want (u know who I mean)

Let's give it a go shall we.

ta
ams
  • #276,494
  • Apr 15, 2011 1:29am Apr 15, 2011 1:29am
Quoting ams
Finally I see some familiar names coming back to the forum , I know who you are if you remember who I am


Glad if we could ensure to group together with the like minded and ignore the one's we do not want (u know who I mean)

Let's give it a go shall we.

ta
ams
hi,
sorry if i ask... you say this exactly after my posts..... am i the one to be ignored?
90% of traders use TA, indicators and prediction
  • #276,495
  • Apr 15, 2011 1:33am Apr 15, 2011 1:33am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
No Matey, sorry if you feel that way....not you at all

The one's I am refering too Vilas perhaps know much better and others who are/were traumatized by them.

Guys presently on this forum / you guys are bunch of good folks!

ta
ams




Quoting _BBKing_
hi,
sorry if i ask... you say this exactly after my posts..... am i the one to be ignored?
  • #276,496
  • Apr 15, 2011 1:34am Apr 15, 2011 1:34am
[quote=TauTrader;4546697]Good day to you,

You are probably right. My entry was not ideal - and that made me nervous. So - better to rather pull the trade as there will be plenty others to come. I had an initial target of 1.6310 - 1.6320.

Good afternoon Tau Trader:

Figures that makes me as a junior trader was amazed to you. How do you find these numbers? I have much to learn from you ..... Thank you for your analysis

Best Regard
  • #276,497
  • Apr 15, 2011 1:38am Apr 15, 2011 1:38am
Quoting ams
No Matey, sorry if you feel that way....not you at all

The one's I am refering too Vilas perhaps know much better and others who are/were traumatized by them.

Guys presently on this forum / you guys are bunch of good folks!

ta
ams

thanks
90% of traders use TA, indicators and prediction
  • #276,498
  • Apr 15, 2011 1:41am Apr 15, 2011 1:41am
Quoting Beljevina
Oh No! It was actually a good trade - after I made my forum submission a few hours ago, I realized you had come to the same conclusion to short as did I!

Unfortunately looks like Murphy's Law got in the mix here --- I think within a few minutes of you closing for a loss, the short would have worked out: was at 633 a moment ago, and I think eventually heading lower - DPP and prev high at 63088 still calling IMO. Good news is that it seems that top TL from my H1 chart is still holding and the rise up to saw both spot sellers and a less evident amount...
good morning,
rarely i used volume indicators, but i notice on your chart a good one.
can i find it some where?
i would like to try it, looks very helpful
90% of traders use TA, indicators and prediction
  • #276,499
  • Apr 15, 2011 1:45am Apr 15, 2011 1:45am
Quoting Beljevina
Welcome, and it's good to express your thoughts, but I am concerned if you think it's a casino and like gambling.

I'm not exactly sure what 'white coat science' might be, but it sounds like a statement regarding pure technicals?

Regardless, if you feel it's like a casino and gambling, I think you should stop trading until you can feel some level of confidence in whatever system you might be following; looking to others who say it's going 400 pips north or 400 south, means you're looking for a signal service, without any eye to getting out at a...
well exactly,as you say either one can be right either if it is 1.59 or 1.67.... or you could say it is 50/50... but you call this a system or science? is not the "system" just something to "comfort-support" ones decision ? please do not get this personal or that I'm judging someone here, not at all, just a very very broad thinking here while the market is lazy
PS. and yes I have my 'system' I stick to , I do not trade based on forums
  • #276,500
  • Apr 15, 2011 1:47am Apr 15, 2011 1:47am
i dont like a lot this fast back from 6345.
if it repeats now i will close my long...
90% of traders use TA, indicators and prediction
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