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Cable Update (GBPUSD)

  • #288,721
  • Sep 15, 2011 6:04am Sep 15, 2011 6:04am
Quoting _BBKing_
hourly
i agree on 1.59 important level.
if happens today for some reasons we could see rejection.

there i find ema200 kissing sma200 in h1
when this happen it attract price for a possible reversal happening soon in that TF

i dont expect a straight move!
Good day, can i ask you what are those mofu levels?
Is it median of above and bellow levels?
  • #288,722
  • Sep 15, 2011 6:21am Sep 15, 2011 6:21am
Please lets not make this like the EUR thread please.

I tend to reference Weekly and Monthly to trade the daily for long term trades.

But daily for me is the 15 min.

In forex I am always learning and am always interested is positive criticism.

But for the me the simplest system works for me. Anyway happy pipping everyone.
  • #288,723
  • Sep 15, 2011 6:25am Sep 15, 2011 6:25am
Quoting specul8
Please lets not make this like the EUR thread please.
...
What do you mean? This thread is no comparison to the EU thread.
  • #288,724
  • Sep 15, 2011 6:30am Sep 15, 2011 6:30am
Quoting bbakker
What do you mean? This thread is no comparison to the EU thread.
Agreed lets keep it that way. :-)

Can not take all the arguing. Let just trade guys and if we can have a laugh a long the way all the better.
  • #288,725
  • Sep 15, 2011 6:31am Sep 15, 2011 6:31am
Quoting bbakker
What do you mean? This thread is no comparison to the EU thread.
lol yes ... what the fuck do you mean like the eur thread.
Some of these guys here bitch around like a bunch of skirts, can't take criticism whatnot.
Listen, some of us here been around this thread for many years before the lot of you & the way it goes around here, we do criticize each other all the time, that can only make you better. If you're all for polishing turds & holding hands you will not learn anything.

Kindly put me on ignore if you don't like how I say things around here.
Thank You
  • #288,726
  • Sep 15, 2011 6:35am Sep 15, 2011 6:35am
Quoting wormboy
lol yes ... what the fuck do you mean like the eur thread.
Some of these guys here bitch around like a bunch of skirts, can't take criticism whatnot.
Listen, some of us here been around this thread for many years before the lot of you & the way it goes around here, we do criticize each other all the time, that can only make you better. If you're all for polishing turds & holding hands you will not learn anything.

Kindly put me on ignore if you don't like how I say things around here.
Ignored
  • #288,727
  • Sep 15, 2011 6:39am Sep 15, 2011 6:39am
Quoting bbakker
Nav... sorry to ask such a pertinent question, but if we are in a range, why did you buy at the top or did you think we were going to break the range north a couple of weeks back?

Anyway, here is something that you might not like, but I know ovaforty will

Attachment

P.S. We practically went to 1.42 when they last crossed (89ema over the 200sma) crossed and they don't cross often. I still think we are overdue a retracement, but I favour a bit lower from here... maybe only a couple of hundred pips. Who knows... let's see...

u see brian ..why i buy?

i dont know if u have access to quarterly charts..but the last quarter printed a bearish pin..so i knew a fall would happen, likely but the pin high was above 1.67 and the low was 1.59

so i thought price could test 1.67 and then fall..or the pin may not trigger at all as its at 1.59 (the low)..so what to do, I assumed the pin would fail (NF report) and bought toward 1.67 knowing that even if the pin triggered the range start at 1.57 and the pin would have done its job in theory assuming i know what im doing.
The decision was also based on that chart u seen from me for GU strength

I felt direction was up and traded buying as we fell..the problem for me with the pin is where do u get out and didnt want to get caught, i wasnt even sure it would trigger..(trust issue)
1.59 in itself it a damn good support, 1.58 produced a touch and moved price to 1.66..was risky play i felt if i didnt get out in time..now with hindsight i regret it..cause the move down was smooth

hope it makes sense what im writing
  • #288,728
  • Sep 15, 2011 6:42am Sep 15, 2011 6:42am
Now, I can claim that I've been long been short the whole week taking every single pips out of those whipsaws, would it matter? NO. Why? Because it's after the fact.
If you say you've been long ALL week, what difference would it make? You wouldn't have made a killing, matter of fact you'll either be stopped out at the 5700 test or you'll still be holding some drawdowns as price is still below the weekly open. So you bought all week, means you bought all the way down, doesn't sound like a sterling trade concept does it? Every day since Monday the daily closed with a lower low & a lower high & yet you lot talk about every single 50 pips jump like it is 500.
If you expect to be counted around here & have the more seasoned traders engage with you in a respectful manner at least make an effort to present your trade setups with charts with some mention to your planned entries, exits & risk involved. If you don't care about conversing with the better traders & expect to fool the noobs, then I guarantee you I will stop you.
Thank You
  • #288,729
  • Sep 15, 2011 6:49am Sep 15, 2011 6:49am
Quoting Flatfish
Yep closed my long at the 11am fix just now and am scalping it short now risky- but pattern this week seems to be buy at the euro open and sell at the fix- has worked well so far this week- but don't taqke my word for gospel.
If you look back we don't post after the fact, and do give reasons why we enter the trade. trading involves taking both directions, sometimes we will agree sometimes not MM the key.
  • #288,730
  • Sep 15, 2011 6:50am Sep 15, 2011 6:50am
Back to trading.

I had taken the counter trade by buying 2 lots @5817 with emergency stop placed @5690 & tp placed @5950. The reason for the long taken is that the i/d bias had flipped bullish as the hourly closed cleanly above the daily open price.
Price is however facing some resistance at the previous day high which coincidentally is also around the same resistance level we've been seeing all week. I will add to my trade position if price close above the previous day high & I will look to cut my loss if price closes back below the day open.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.gif Size: 21 KB
Thank You
  • #288,731
  • Sep 15, 2011 6:51am Sep 15, 2011 6:51am
Bullish (Red) channel within Bearish (Blue) channel .
Attached Image (click to enlarge)
Click to Enlarge Name: chart.26gif.gif Size: 31 KB
  • #288,732
  • Sep 15, 2011 6:54am Sep 15, 2011 6:54am
Quoting bbakker
Ignored
why you ....
Attached Image
Thank You
  • #288,733
  • Sep 15, 2011 6:54am Sep 15, 2011 6:54am
Just remember GU loves to fake hence all wicks all over the charts, but here is my take on it. I will be looking for longs in the areas marked on my chart.

Attached Image (click to enlarge)
Click to Enlarge Name: 110915_GU_m15.png Size: 77 KB


Remember, this is just me and my analysis. Have a great day trading. Over and out for today!
  • #288,734
  • Sep 15, 2011 6:55am Sep 15, 2011 6:55am
Quoting Hgslv
Good day, can i ask you what are those mofu levels?
Is it median of above and bellow levels?
hello,
sure!
it is 0.44 n 0.56 level of fibonacci (44% n 56%)
i found it some months ago in EU thread

helpful for what it is: a 'fibonacci level'
Attached Image
90% of traders use TA, indicators and prediction
  • #288,735
  • Sep 15, 2011 6:55am Sep 15, 2011 6:55am
Quoting wormboy
why you ....
LOL
  • #288,736
  • Sep 15, 2011 6:57am Sep 15, 2011 6:57am
Quoting bbakker
Just remember GU loves to fake hence all wicks all over the charts, but here is my take on it. I will be looking for longs in the areas marked on my chart.

Attachment

Remember, this is just me and my analysis. Have a great day trading. Over and out for today!
similiar setup here
im out of it coz this morning woke up damn late...
i hope to get an entry for today

update: the blue line is better seen in h4 chart!
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 41 KB
90% of traders use TA, indicators and prediction
  • #288,737
  • Sep 15, 2011 7:01am Sep 15, 2011 7:01am
for example i did not drawn the upward channel posted already by 2-3 members here
reason: i didn't notice it yet!

let's work all together guys!
every one every day (...) get a mistake!
90% of traders use TA, indicators and prediction
  • #288,738
  • Sep 15, 2011 7:01am Sep 15, 2011 7:01am
Quoting _BBKing_
similiar setup here
im out of it coz this morning woke up damn late...
i hope to get an entry for today

update: the blue line is better seen in h4 chart!
Quoting nAVIN2007
it might go down if it reaches 1.5830-50 area..channel top on 4hr bro
if it crosses this i have no problem with my trade..it shaping up beautifully

1.59 needs to cross..very impt
  • #288,739
  • Sep 15, 2011 7:02am Sep 15, 2011 7:02am
Quoting bbakker

Remember, this is just me and my analysis. Have a great day trading. Over and out for today!
Thank you! I can respect those who make an effort or two in presenting their setups with clarity instead of oh "we're going up here", "we're going down here because my rice bowl sez so" & all that bollocks. Doesn't matter if one is right or wrong, at least make an effort to justify the trade taken.

Have a good day Brian cheers
Thank You
  • #288,740
  • Sep 15, 2011 7:02am Sep 15, 2011 7:02am
Quoting nAVIN2007
u see brian ..why i buy?

i dont know if u have access to quarterly charts..but the last quarter printed a bearish pin..so i knew a fall would happen, likely but the pin high was above 1.67 and the low was 1.59

so i thought price could test 1.67 and then fall..or the pin may not trigger at all as its at 1.59 (the low)..so what to do, I assumed the pin would fail (NF report) and bought toward 1.67 knowing that even if the pin triggered the range start at 1.57 and the pin would have done its job in theory assuming i know what im doing.
The decision...
Makes perfect sense Nav, but the market caught you out this time round. Will you be adding to a long at this level?
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