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Cable Update (GBPUSD)

  • #288,841
  • Sep 15, 2011 2:32pm Sep 15, 2011 2:32pm
Quoting ovaforty
i place my trades as close to support or resistance with a stop outside the recent range. You can see on the previous cable chart that the stop is sitting outside the range. If i get stopped for a small loss, then so be it. Losses are a part of Forex trading.
Hello,

May I know how much you risk % per trade usually mate?


Thanks
If there was easy money lying around,no one would be forcing it into your
  • #288,842
  • Sep 15, 2011 2:41pm Sep 15, 2011 2:41pm
Quoting FXMindset
Hello,

May I know how much you risk % per trade usually mate?


Thanks
Depends on the situation. I use small lot sizes normally.
  • #288,843
  • Sep 15, 2011 2:48pm Sep 15, 2011 2:48pm
Quoting ovaforty
Depends on the situation. I use small lot sizes normally.
Thanks Yo Bro
If there was easy money lying around,no one would be forcing it into your
  • #288,844
  • Sep 15, 2011 6:38pm Sep 15, 2011 6:38pm
adjusted the fibo in m15
Quoting iqyu5an
m5
Attached Image (click to enlarge)
Click to Enlarge Name: m15.gif Size: 23 KB
not euphoria follower
  • #288,845
  • Sep 15, 2011 6:44pm Sep 15, 2011 6:44pm
Quoting ovaforty
i place my trades as close as reasonably possible to support or resistance with a stop outside the recent range. You can see on the previous cable chart that the stop is sitting outside the range. If i get stopped for a small loss, then so be it. Losses are a part of Forex trading.
Thanks Friend
  • #288,846
  • Sep 15, 2011 6:59pm Sep 15, 2011 6:59pm
I have a question for you guys.

Is this a morning star reversal pattern on the daily chart?
Attached Image (click to enlarge)
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  • #288,847
  • Sep 15, 2011 7:32pm Sep 15, 2011 7:32pm
Gbp/Usd Buy at 1.5700/05, 1.5560/65, 1.5590/95, sell at 1.5890/95, 1.5935/40, 1.6005/10

Gbp/Usd This pair is on daily downtrend, retracement at 1.5805/10 break is to 1.5890/00, a base above here would set this pair on daily uptrend, while low price level is at 1.5610/20

*ovaforty- Yesterday daily candle close means a bullish possible reversal but must base above 1.5890/00 to confirm an uptrend start
  • #288,848
  • Sep 15, 2011 7:51pm Sep 15, 2011 7:51pm
Quoting TheMoneMaker
Gbp/Usd Buy at 1.5700/05, 1.5560/65, 1.5590/95, sell at 1.5890/95, 1.5935/40, 1.6005/10

Gbp/Usd This pair is on daily downtrend, retracement at 1.5805/10 break is to 1.5890/00, a base above here would set this pair on daily uptrend, while low price level is at 1.5610/20

*ovaforty- Yesterday daily candle close means a bullish possible reversal but must base above 1.5890/00 to confirm an uptrend start
thanx bro, I agree totally with your forecast.
  • #288,849
  • Sep 15, 2011 8:08pm Sep 15, 2011 8:08pm
H1
Quoting iqyu5an
adjusted the fibo in m15
Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 23 KB
not euphoria follower
  • #288,850
  • Sep 15, 2011 11:13pm Sep 15, 2011 11:13pm
M3

if 5808-5810 not hit in 1 hour from now, wanna try a short at 5810-5820 ( in next 2 hours before london open ) ONLY if clear rejection around 5825-5830 or any higher level above 5810

cheers....

attention : LOW TF >> many noise and friday
Attached Image (click to enlarge)
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not euphoria follower
  • #288,851
  • Edited 3:16am Sep 16, 2011 12:38am | Edited 3:16am
Right now calling 1.5720 a short term support wouldn't be a bad idea, judging from last night's flood of USD based loans and slight return of risk appetite on new positive sentiment, building long position now is somewhat less riskier than few days ago.

Medium term target 1.6000 if God loves me. Stop loss will be set just below 1.5720. Fingers crossed.
  • #288,852
  • Sep 16, 2011 12:49am Sep 16, 2011 12:49am
M3 - little rejection at 5816 in 1 hours 15 minutes before london open

Quoting iqyu5an
M3

if 5808-5810 not hit in 1 hour from now, wanna try a short at 5810-5820 ( in next 2 hours before london open ) ONLY if clear rejection around 5825-5830 or any higher level above 5810

cheers....

attention : LOW TF >> many noise and friday
not euphoria follower
  • #288,853
  • Edited 1:50am Sep 16, 2011 1:33am | Edited 1:50am
targeting 15 fibo line ( close or set trailing stop by 20 pip )
m15


Quoting iqyu5an
M3 - little rejection at 5816 in 1 hours 15 minutes before london open
Attached Image (click to enlarge)
Click to Enlarge Name: m15.gif Size: 37 KB
not euphoria follower
  • #288,854
  • Sep 16, 2011 1:59am Sep 16, 2011 1:59am
hmm ....close at 15 fibo line for 5 % return
let she dancing first for now ..... for another setup at the bottom

bottom projection : http://www.forexfactory.com/attachme...4&d=1316135289
probability : 99 % wrong ( still learning )
Quoting iqyu5an
targeting 15 fibo line ( close or set trailing stop by 20 pip )
m15
not euphoria follower
  • #288,855
  • Sep 16, 2011 2:16am Sep 16, 2011 2:16am
G/M

Fractal swing lo then created on the dailly t/f as a result of yesterday's daily candle close...the pullback from 5705 finding supply @ 5867 (the previous 1hr swing hi zone co-existant with previous daily swing lo [previous support] zone....Price now challenging 61.8% 5705-5867/76.4% 5730-5867/the 1hr ascending trend line..

G/L
Attached Image (click to enlarge)
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ex member
  • #288,856
  • Sep 16, 2011 2:31am Sep 16, 2011 2:31am
Based on prev posting at http://www.forexfactory.com/attachme...4&d=1316135289, the green fibo line projected that there will be "bottom" at 4 or 5 hours before london open. well now...london opened already, but the PA only few pips above projected bottom. based on theory ( scfm ), if the target not hit at the given period...sometimes we should focus at the next period... for the given fibo line ( un hit target )

let see what gonna happen..... i dont know either but there is something written on the theory

cheers...
not euphoria follower
  • #288,857
  • Sep 16, 2011 2:41am Sep 16, 2011 2:41am
on eyed ...
Quoting iqyu5an
Adjust the fibo after price back to 85 level ...

waiting PA back to 5759 - 5774 ( or 5767 ) to add long after get rejection at the lower level ( whatever it is ) OR waiting for short at 5825-5850 ( after get rejection at higher level [ prev weekly low ] ) ?

bull and bear give profit .... no fighting

cheers
from paris van java

***
1H


Quoting iqyu5an
Based on prev posting at http://www.forexfactory.com/attachme...4&d=1316135289, the green fibo line projected that there will be "bottom" at 4 or 5 hours before london open. well now...london opened already, but the PA only few pips above projected bottom. based on theory ( scfm ), if the target not hit at the given period...sometimes we should focus at the next period... for the given fibo line ( un hit target )

let see what gonna...
not euphoria follower
  • #288,858
  • Sep 16, 2011 3:00am Sep 16, 2011 3:00am
Very hard to get to excited about the current pa looks like a choppy session. I will try to buy around 1.5730 area which has the S1 in that area as well as 4hr bottom bollie band, but keeping a stop around 1.5690. Not expecting a large move on cable today so trying to buy a bottom for a test of the high.
Attached Image (click to enlarge)
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  • #288,859
  • Sep 16, 2011 3:14am Sep 16, 2011 3:14am
Quoting wormboy
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...
And I closed this trade & took my 50 pips loss. The downtrend is still intact, I won't waste my time holding on to this counter.

Good luck
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Thank You
  • #288,860
  • Sep 16, 2011 3:17am Sep 16, 2011 3:17am
Quoting bbmac
G/M

Fractal swing lo then created on the dailly t/f as a result of yesterday's daily candle close...the pullback from 5705 finding supply @ 5867 (the previous 1hr swing hi zone co-existant with previous daily swing lo [previous support] zone....Price now challenging 61.8% 5705-5867/76.4% 5730-5867/the 1hr ascending trend line..

G/L
Good to see you back, bbmac.
Gone to a better place
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