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Cable Update (GBPUSD)

  • #287,341
  • Aug 26, 2011 10:44am Aug 26, 2011 10:44am
Quoting sinchan
Alhamdulillah hirabbil Alamin.. Now I am Done

one position buy on 1.6223
and another one open position buy on 1.6270

Now Time to take a rest no more trade
well done!

me came late... 6250
my broker closed by best buy @6220 due to trailing stops too tight.
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  • #287,342
  • Aug 26, 2011 10:45am Aug 26, 2011 10:45am
ok!
finally understood: i go too much stressed by taking a position near extremes.
from now on, i will take them with smaller lots, then add on the move.

hope this will help also others who find difficult to take a position sometimes!
90% of traders use TA, indicators and prediction
  • #287,343
  • Aug 26, 2011 10:46am Aug 26, 2011 10:46am
Quoting nAVIN2007
Attached Image
90% of traders use TA, indicators and prediction
  • #287,344
  • Aug 26, 2011 10:51am Aug 26, 2011 10:51am
GU 1.64
EU 1.45

...areas...

before day ends?

possible?
90% of traders use TA, indicators and prediction
  • #287,345
  • Aug 26, 2011 10:52am Aug 26, 2011 10:52am
Quoting _BBKing_
Im glad you managed to catch the bull run. Enjoy the ride while it last.
  • #287,346
  • Aug 26, 2011 10:54am Aug 26, 2011 10:54am
Today is a crazy day! And a annoying one, waiting for this 4 houre candle to form to make my move!
  • #287,347
  • Aug 26, 2011 10:56am Aug 26, 2011 10:56am
Quoting _BBKing_
GU 1.64
EU 1.45

...areas...

before day ends?

possible?
im long in both i feel EU has a chance of flirting with 1.45

i am skeptical about gu reaching 1.64 though not sure how much upside there is left in it but i'd love to be wrong
  • #287,348
  • Aug 26, 2011 11:00am Aug 26, 2011 11:00am
Quoting _BBKing_
GU 1.64
EU 1.45

...areas...

before day ends?

possible?
Possible.

IMHO, I think it will not touch 6400 today. Possibly retrace @6370-6390
  • #287,349
  • Aug 26, 2011 11:02am Aug 26, 2011 11:02am
work in progress chart.
anyway shows a lot of interesting things
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.jpg Size: 122 KB
90% of traders use TA, indicators and prediction
  • #287,350
  • Aug 26, 2011 11:07am Aug 26, 2011 11:07am
Quoting delorean
Possible.

IMHO, I think it will not touch 6400 today. Possibly retrace @6370-6390

yes true!

also 6340 showing resistance
90% of traders use TA, indicators and prediction
  • #287,351
  • Aug 26, 2011 11:10am Aug 26, 2011 11:10am
ok 6337 enough

i close 2/3 position here + 84 pips

remaining i let it go alone
90% of traders use TA, indicators and prediction
  • #287,352
  • Aug 26, 2011 11:13am Aug 26, 2011 11:13am
closed 1 of my 2 positions at 6339 for 70 pips too. manually managing my 2nd position, will probably close it at the first serious sign of a retrace to the downside
  • #287,353
  • Aug 26, 2011 11:17am Aug 26, 2011 11:17am
Quoting delorean
GBPUSD Analysis for week 29/8-2/9

Right on target! As expected, price will fall to 6280-6320 support.

If the short term trend line (sky blue) continues to hold and if price breaks 6320-6370, we can expect price to bounce up to 6720-6820 area within this 1-2 weeks. However, since market made a big move the past 2 days (and also since its friday), the bull run may not start until monday. But who knows, this is forex, anything can happen.

Watch out for previous major turning point @ 6570-6620 for a possible major retracement....
My analysis was pretty much the same...
Choose your destiny!!
  • #287,354
  • Aug 26, 2011 11:18am Aug 26, 2011 11:18am
Quoting _BBKing_
yes true!

also 6340 showing resistance
Yup.

I hope you keep that long @6220 till 6700. That would be a nice $$$

Im glad that GU manage to pull back above 6270. If not, I will have to throw away my previous analysis.
  • #287,355
  • Aug 26, 2011 11:23am Aug 26, 2011 11:23am
Quoting _BBKing_
well done!

me came late... 6250
my broker closed by best buy @6220 due to trailing stops too tight.
Thanks Bro.. Well Done 4 U too
  • #287,356
  • Aug 26, 2011 11:24am Aug 26, 2011 11:24am
GU ransacking its way through 6340, i may have been wrong suggesting it wont hit 6400
  • #287,357
  • Aug 26, 2011 11:24am Aug 26, 2011 11:24am
Quoting richkidx
My analysis was pretty much the same...
Great! At least im not alone

Now, since today has been crazy, MAYBE monday and tuesday will be quiet. We will see
  • #287,358
  • Aug 26, 2011 11:27am Aug 26, 2011 11:27am
Quoting delorean
Yup.

I hope you keep that long @6220 till 6700. That would be a nice $$$

Im glad that GU manage to pull back above 6270. If not, I will have to throw away my previous analysis.
no tgt for the moment on that 1/3 position
that 6280-6300 also possible start of new week

im planning to add if good setup appears on a move near 6300.
can be a bottom of a nice swing!

a bit early to predict now, setup not complete in hourly chart.
time will tell
90% of traders use TA, indicators and prediction
  • #287,359
  • Aug 26, 2011 11:31am Aug 26, 2011 11:31am
What U Do Need to make an open Position:

1. Candle Stick Analysis
2. Trend Line, S& R Lines
3. Money Management
4. Time Frame

Important: Please do not use any indicator although RSI, MACD or etc this indicator used to trapped us, if the RSI show the over bought position but the market still want to go long then what the matter with the RSI..??

Before make an entry have a look first in the bigger TF such as daily and 4H..

Then start make the trend Line and S&R Lines..

continued with the candle stick analysis if the candle stick show us the signal to jump in the market..

But For sure market is not a friendly environment so that is why we do need to have the money management, when we jump in the extreme point for reversal moves especially based on daily or 4H TF the market used to swap the area first that is why we do need to jump in with the small position first, if the market start to move a long with our prediction then we add more quantity , if the market didnt move a long with our prediction then we only lost a small amount of money .. in this way also we can set our stop loss much wider not too tight..

Hopefully will be useful
  • #287,360
  • Aug 26, 2011 11:34am Aug 26, 2011 11:34am
...
Attached Image (click to enlarge)
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