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Cable Update (GBPUSD)

  • #285,721
  • Edited 9:11pm Aug 4, 2011 4:03am | Edited 9:11pm
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  • #285,722
  • Aug 4, 2011 4:55am Aug 4, 2011 4:55am
Oh thats going to REALLY help my treatment! I escaped from my cell and i go on to find my stop was only taken out by a few pips, and then price spiked back down to where my TP would have been!!!!!! Thats just fucking awesome! Theyre going to have to double my meds now. Im not seeing daylight for a lllonnnnnnggggg time...
  • #285,723
  • Aug 4, 2011 5:07am Aug 4, 2011 5:07am
Quoting Jazznos
Oh thats going to REALLY help my treatment! I escaped from my cell and i go on to find my stop was only taken out by a few pips, and then price spiked back down to where my TP would have been!!!!!! Thats just fucking awesome! Theyre going to have to double my meds now. Im not seeing daylight for a lllonnnnnnggggg time...
that sucks mate. Don't get too angry and enter stupid impulsive revenge trades, but you know that anyway.
Don't get mad, get even!
  • #285,724
  • Aug 4, 2011 5:15am Aug 4, 2011 5:15am
Quoting stulic
that sucks mate. Don't get too angry and enter stupid impulsive revenge trades, but you know that anyway.
LOL dont worry I wont, I have only myself to blame. I think Ive entered at a high and set a lower SL than usual thinking its enough and get taken out. if id followed my normal MM rule i would have been fine. Contradictory principles seem to cause a lot of issues for me lately (eg here, reduce risk, but if you do, youre acutally increasing it!) so my discipline has slipped badly as ive taken losses and emotions come into play... all textbook stuff! Better have tomorrow off though, getting a bit gun-shy now... GL all!
  • #285,725
  • Aug 4, 2011 7:47am Aug 4, 2011 7:47am
Gu socks atimes
Keep the Lights on then you can catch the rise from the dark.
  • #285,726
  • Aug 4, 2011 8:00am Aug 4, 2011 8:00am
hello all
today i was not here for trading....
im very sad not to have shorted yesterday near 6430!

anyway i was reading previous posts, looks like today price went crazy!
huge moves in JPY pairs n crosse....
huge move in gold...

@jazznos: im sorry for what happened to you. i got same shit more times in the past! my advice: stop trading now, relax, drink a beer, sleep and come back on charts saturday/sunday when markets are closed and try to understand IF n WHAT you could have done to avoid that loss! last time it happened to me i got 1 no trading week.... but then i understood where i was wrong!

about GU is going up n down challenging strong daily levels. i will try to switch on m1-m5-m15 charts n pick some scalps of 10-20-30 pips max.
i have no nerves for this kind of moves
90% of traders use TA, indicators and prediction
  • #285,727
  • Aug 4, 2011 8:05am Aug 4, 2011 8:05am
Quoting _BBKing_
hello all
today i was not here for trading....
im very sad not to have shorted yesterday near 6430!

anyway i was reading previous posts, looks like today price went crazy!
huge moves in JPY pairs n crosse....
huge move in gold...

@jazznos: im sorry for what happened to you. i got same shit more times in the past! my advice: stop trading now, relax, drink a beer, sleep and come back on charts saturday/sunday when markets are closed and try to understand IF n WHAT you could have done to avoid that loss! last time it happened...
really did miss some of your affirmative post that makes me sometime Hold for lasting pips taking on my scalping acct. After your study now just drop a post on market situation. so some of us can check if to hold.
Keep the Lights on then you can catch the rise from the dark.
  • #285,728
  • Aug 4, 2011 8:07am Aug 4, 2011 8:07am
Quoting nAVIN2007
i didnt expect pound strength to go up..it gone up same pace as usd, cable would have tanked otherwise, makes me thing, what the hell is going on today
bro, i hope those shorts near 6230 are small ones.
my daily study say 61's still possible but who knows when?

i would like to have your nerves to hold such a position
90% of traders use TA, indicators and prediction
  • #285,729
  • Aug 4, 2011 8:16am Aug 4, 2011 8:16am
Quoting ricmaj
Gu socks atimes
say again?
Don't get mad, get even!
  • #285,730
  • Aug 4, 2011 8:19am Aug 4, 2011 8:19am
Quoting ricmaj
really did miss some of your affirmative post that makes me sometime Hold for lasting pips taking on my scalping acct. After your study now just drop a post on market situation. so some of us can check if to hold.
im looking now at charts....
there is a bit mixed data in hourly timeframes.
90% of traders use TA, indicators and prediction
  • #285,731
  • Aug 4, 2011 8:22am Aug 4, 2011 8:22am
this is 1st thing i notice in h4
H&S possible on closing below 6250 better 6230...

macd divergence helped the move from 64's
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4_1.gif Size: 29 KB
90% of traders use TA, indicators and prediction
  • #285,732
  • Aug 4, 2011 8:28am Aug 4, 2011 8:28am
anyway as we know, H&S is not 100% confirmed until strong closing candle below neckline.

so, if that area won't be broken we could see a multiple bottom in 6230-50 area....
90% of traders use TA, indicators and prediction
  • #285,733
  • Aug 4, 2011 8:32am Aug 4, 2011 8:32am
Quoting _BBKing_
this is 1st thing i notice in h4
H&S possible on closing below 6250 better 6230...

macd divergence helped the move from 64's
there are MovAverage full open in upward.

first first thing price need to close candles below ema60(green) then below ema200(white)
only when all of them will be confirmed crossing down... this thing will go down! i see same thing in m1-m5 TF every day!

until all emas are going up, price can go down, but will recover up! like did today... gosh
90% of traders use TA, indicators and prediction
  • #285,734
  • Aug 4, 2011 8:39am Aug 4, 2011 8:39am
this is 'similar' pattern when price came from 67's
at least explain better what i mean.

sincerely i wouldn't be surprised to find price in 65 area before a strong move to 61's........
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4_2.gif Size: 35 KB
90% of traders use TA, indicators and prediction
  • #285,735
  • Aug 4, 2011 9:38am Aug 4, 2011 9:38am
I will long 6270 TP 1.6370 then short.
  • #285,736
  • Aug 4, 2011 10:12am Aug 4, 2011 10:12am
Personally I am Added Short @ 1.6270 SL 4%
(Dont Follow me,I Traded Based on my own chart analysis)
  • #285,737
  • Aug 4, 2011 10:33am Aug 4, 2011 10:33am
Bulls eye! Well, actually more like bears eye. (sorry bad joke)

As I anticipated, price hit target area and continue to follow the blue channel.

If bulls continue (which may not happen today), price should go down towards 6150-70 area.

But, looking at how messy the day has been, price will most probably move sideways for 1 or 2 days (testing the pink line). If the blue channel continues to stand true, we will see a down movement to 6150-70 in on monday, tuesday or even wednesday. During this sideways movement, be extra careful if you decide to trade.

It all depends. Good luck all!

Attached Image (click to enlarge)
Click to Enlarge Name: scenario 8.JPG Size: 70 KB
  • #285,738
  • Edited 9:11pm Aug 4, 2011 10:45am | Edited 9:11pm
I see that we need break 1.6260 to continue south @ 1.60xx
The Formation Looks Bearish For me
  • #285,739
  • Aug 4, 2011 11:27am Aug 4, 2011 11:27am
i will check for a buy into the blue rectangle range 6230-6260.
can happen some take profit n some demand into this area,
only for a scalp of 15-30 pips quick move and stops out of the rectangle

then will wait to see price n candles h1 n h4 closing

opa is bearish..
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.gif Size: 28 KB
90% of traders use TA, indicators and prediction
  • #285,740
  • Aug 4, 2011 11:35am Aug 4, 2011 11:35am
Quoting delorean
Bulls eye! Well, actually more like bears eye. (sorry bad joke)

As I anticipated, price hit target area and continue to follow the blue channel.

If bulls continue (which may not happen today), price should go down towards 6150-70 area.

But, looking at how messy the day has been, price will most probably move sideways for 1 or 2 days (testing the pink line). If the blue channel continues to stand true, we will see a down movement to 6150-70 in on monday, tuesday or even wednesday. During this sideways movement, be extra careful if you decide...
hello,
dont forget tomorrow is 1st friday of new month....
check calendar
today n tomorrow stops will be eaten below here or above there
90% of traders use TA, indicators and prediction
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