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Cable Update (GBPUSD)

  • #277,021
  • Apr 20, 2011 7:18am Apr 20, 2011 7:18am
good stuff going on
  • #277,022
  • Apr 20, 2011 7:19am Apr 20, 2011 7:19am
Quoting _BBKing_

done 6410 while writing ...
im +22 on a long open in 6390!!!!!!! ihihihiihihihi
good job my friend, now i can go get something to eat, be back later, will post if any new trades set-up comes
  • #277,023
  • Apr 20, 2011 7:21am Apr 20, 2011 7:21am
Quoting PoundTrader
good job my friend, now i can go get something to eat, be back later, will post if any new trades set-up comes

have a good meal!
one day maybe i will learn how can you go on a trade without a chart
90% of traders use TA, indicators and prediction
  • #277,024
  • Apr 20, 2011 7:30am Apr 20, 2011 7:30am
man i lost my shirt to cable today, a combo of over-levarage and no stop loss, how stupid am i...have been watching it in horror today, now its clear to me that this is a long, where do u think cable will pullback to, if at all
  • #277,025
  • Apr 20, 2011 7:32am Apr 20, 2011 7:32am
Quoting PoundTrader
good job my friend, now i can go get something to eat, be back later, will post if any new trades set-up comes
Hi PT ! Your TP is hit. Now what ? Puzzling PA. Cable due for a rest but ...second wind possible to 6460. What you think ?
  • #277,026
  • Apr 20, 2011 7:35am Apr 20, 2011 7:35am
Quoting _BBKing_

done 6410 while writing ...
im +22 on a long open in 6390!!!!!!! ihihihiihihihi
Hi BBK. That was a great finesse. Now whither ? This PA has me confused.
Wish you Pips.
  • #277,027
  • Apr 20, 2011 7:38am Apr 20, 2011 7:38am
Good day guys, just go back from outside. Feel very refreshed now. USD totally sucks today. Anyone got hurt today? hope that you all WIN
  • #277,028
  • Apr 20, 2011 7:38am Apr 20, 2011 7:38am
cable triple top here???? just asking if someone wants to short here
  • #277,029
  • Apr 20, 2011 7:39am Apr 20, 2011 7:39am
Quoting vilas
Hi BBK. That was a great finesse. Now whither ? This PA has me confused.
Wish you Pips.
im a bit confused too now.
i want to see if holds the 6400 in consolidation.
usdollar no moving yet
90% of traders use TA, indicators and prediction
  • #277,030
  • Apr 20, 2011 7:41am Apr 20, 2011 7:41am
Quoting reg
cable triple top here???? just asking if someone wants to short here
i would let daily close before thinkin on a triple top....
90% of traders use TA, indicators and prediction
  • #277,031
  • Apr 20, 2011 7:43am Apr 20, 2011 7:43am
ok tks for your view!
  • #277,032
  • Apr 20, 2011 7:43am Apr 20, 2011 7:43am
Quoting _BBKing_
have a good meal!
one day maybe i will learn how can you go on a trade without a chart
5yrs never use a chart, heck i never look at one , just price action and a few tricks and i get my trade set ups
  • #277,033
  • Apr 20, 2011 7:47am Apr 20, 2011 7:47am
Quoting monkey@forex
man i lost my shirt to cable today, a combo of over-levarage and no stop loss, how stupid am i...have been watching it in horror today, now its clear to me that this is a long, where do u think cable will pullback to, if at all
Monkey mate, no s/l is crazy. Money management is absolutely the key to being successful in forex, especially if you are day trading. Can't tell you how many times I've made some pips here and there, been up for the week than absolutely smashed myself because I wasn't brave or clever enough to close a trade when it was in a losing position.

Remember there is no shame in having a losing trade...no one is 100% correct...if they say they are 80% correct they are probably lying.

As for pullbacks / retraces / reversals, you're going to have to figure that one for yourself...Poundtrader has been calling the levels pretty well.

My tip - try and find a chart which shows the USD, there are plenty available on the internet. The DIXY has been tanking for the last 2 days. It hit 76.00 on Monday afternoon and is now at 74.55. Quite apart from what your charts show, there is no way you should have been thinking Cable would short with the dollar falling so badly.

Anyhoo, keep on keeping on. It's important to learn from mistakes, brush yourself off and get back into the swing of things. Good luck.
  • #277,034
  • Apr 20, 2011 7:51am Apr 20, 2011 7:51am
Well, it did get to 1.64 after all . . .
  • #277,035
  • Apr 20, 2011 7:53am Apr 20, 2011 7:53am
this 6420 (near) looks very strong.
i go for a walk n a rest.
maybe when i will come back something will be more clear...
90% of traders use TA, indicators and prediction
  • #277,036
  • Apr 20, 2011 8:03am Apr 20, 2011 8:03am
Will the channel hold?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h 4-20-2011.jpg Size: 138 KB
  • #277,037
  • Apr 20, 2011 8:05am Apr 20, 2011 8:05am
gbpusd is starting down side 1.6200
Quoting ProfZarkov
Well, it did get to 1.64 after all . . .
  • #277,038
  • Apr 20, 2011 8:07am Apr 20, 2011 8:07am
[quote=Magic Hat;4559386]My tip - try and find a chart which shows the USD, there are plenty available on the internet. The DIXY has been tanking for the last 2 days. It hit 76.00 on Monday afternoon and is now at 74.55.quote]

Ok further to the above email, the last h1 candle on the DIXY closed as a lovely bull hammer. It might suggest that the USD is trying to get out of it's slump.

Look at the m30 doji on your cable charts and the fact we are at 1.642X which is a line of resistance.

There's a couple of indicators which might suggest it is time for a pullback.

Remember - the usual trading day has London setting direction, New York setting the high and then filling the range until Asia starts again.
  • #277,039
  • Apr 20, 2011 8:11am Apr 20, 2011 8:11am
Got some pips from scalp, I can get more but I am quite tired so I'll rest while watching.
  • #277,040
  • Apr 20, 2011 8:19am Apr 20, 2011 8:19am
Quoting 4xtom
Will the channel hold?
My chart is showing if it breaks down here, we are going to 1.6380.

Anyone agree?>?
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