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Cable Update (GBPUSD)

  • #292,981
  • Nov 21, 2011 3:32pm Nov 21, 2011 3:32pm
Actually, stuff it, I lowered my SL to 5610. I don't have a lot of counter trend trade experience, and win or lose, I probably won't do it again unless I see obvious MACD divergence on at least the 15 min chart after a trend line break. Decent bullish divergence on the 5 min chart though, so still hope. I bit reckless, but only this once, (new rule written in going forward).
Come with me if you want to live....
  • #292,982
  • Nov 21, 2011 3:33pm Nov 21, 2011 3:33pm
Quoting Ill-b-back
Yep, I agree, I have found it a bit soft, but hey, maybe they are worried that if everyone put in the same SL people may go fishing. My SL is below the 61.8 retrace of the up move that broke my 15min trendline, so it is small, but a logical place in my book. If I had to make it larger, I wouldn't do the trade as the R/R ratio would suck particularly for a counter trend move. I made 370 pips on the cable and other pairs adding nearly 20% to my account today which I am very pleased about, so I won't hang myself if I lose 33 pips here. I feel we have...
The problem is..the big banks that control the price to the pip really don't care about any of that, or immediate news (unless its big)..they can't take the price down unless the majority are bullish..if they did they would lose billions to all the traders..since they control the price perfectly (unless u think they're honest lol) they will sucker the majority into their way of thinking..and they will..i'm sure most don't believe this..thats cool.
entry - 1.29250 s/l 200 pips
  • #292,983
  • Nov 21, 2011 3:35pm Nov 21, 2011 3:35pm
Quoting normfx
The problem is..the big banks that control the price to the pip really don't care about any of that, or immediate news (unless its big)..they can't take the price down unless the majority are bullish..if they did they would lose billions to all the traders..since they control the price perfectly (unless u think they're honest lol) they will sucker the majority into their way of thinking..and they will..i'm sure most don't believe this..thats cool.
I don't use static s/r either, mainly just trendline and a couple of MA's and fib levels
Come with me if you want to live....
  • #292,984
  • Nov 21, 2011 3:37pm Nov 21, 2011 3:37pm
Daily Wrap - USD: The US dollar index slowly but surely continues to move up. It was a pretty volatile in the fo... http://t.co/7JD0NIsy
  • #292,985
  • Nov 21, 2011 3:38pm Nov 21, 2011 3:38pm
Heading out now, good luck with our longs
Come with me if you want to live....
  • #292,986
  • Nov 21, 2011 4:42pm Nov 21, 2011 4:42pm
longs are in play, look for price to hit 1.5753 area.
  • #292,987
  • Nov 21, 2011 5:02pm Nov 21, 2011 5:02pm
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  • #292,988
  • Nov 21, 2011 5:06pm Nov 21, 2011 5:06pm
Quoting redsword11
Attachment

u really are a brilliant trader..great insight and vision, thread is lucky for u to share yur charts
  • #292,989
  • Nov 21, 2011 5:13pm Nov 21, 2011 5:13pm
Hey Navin,

'Great to see you in here buddy,
-Although it's been "me" that's been M.i.a. !

Hope your trading's been doing well.
-It's seems since last you've matured (i hope as i),
leap's & bounds after applying "Douglas" to your trading...

Work your edges, done- "Finite"!
Anyway, 'Hope all is well over the Water-
Wishing the Best,
Terrapin Pipper,

Jeff
I will work to Objectively Identify my Edges
  • #292,990
  • Nov 21, 2011 5:22pm Nov 21, 2011 5:22pm
Quoting nAVIN2007
u really are a brilliant trader..great insight and vision, thread is lucky for u to share yur charts


thanks and best regards
  • #292,991
  • Nov 21, 2011 7:33pm Nov 21, 2011 7:33pm
My daily technical view.

When the technical met fundamental, I don't want to mess around.
.
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  • #292,992
  • Nov 21, 2011 7:54pm Nov 21, 2011 7:54pm
As we can see for the chart,GU is attempting to retest back it Yesterday Low.If it able to break below,we might expect a Down Trend.

However,if the market able to break Daily Pivot and stay Above for a while there,we might expect an Up Trend and touch few important key Level:

1) around 1.5732 (1st Resistance)
2) Pshyco Level,1.5800 (2nd Resistance)
3) Monthly Pivot

Let's wait and see.


Twinsummit
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Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #292,993
  • Nov 21, 2011 10:47pm Nov 21, 2011 10:47pm
Quoting TauTrader
Good day to you,

Will not be able to focus on trading for the next 2 to 3 days. Other engagements. But wanted to post my view for the next week. I believe we will see another little move up from the current levels to possibly test levels just over 1.58xx -maybe mid 1.58xx.

From there, I could see GU dropping with a stong push lower to clear stops sitting at last week's lows and to get fresh shorts onboard ( from traders waiting for that low support to break down before joining)

That would become an area of strong interest for me to find a...
Good day to you,

Just quickly popping in before I run off again. GU - in my view - not ready to long yet. Although a test of the low of last week @ 1.5689 area is not out of the question, I am expecting a further leg down with 1.5490 not too strange a target.

But leaving her alone for now.

I did however place a short on EU this morning @ 1.3499 to get to the lower 1.34xx - so will see.
  • #292,994
  • Nov 21, 2011 10:54pm Nov 21, 2011 10:54pm
Quoting PoundTrader
wasnt you buying every 50 pip drop something like that
Good day to you,

In last week, that was my stategy when we were appoaching a test of a trend line far higher up on my weekly chart. I did come back to say the trade failed.

Just read my last few posts.

All the best
  • #292,995
  • Nov 22, 2011 1:42am Nov 22, 2011 1:42am
big pips
  • #292,996
  • Nov 22, 2011 2:33am Nov 22, 2011 2:33am
Hi all

Cable going to test area between 1.5709 to 1.5721 if it could pass target will be 1.5814
  • #292,997
  • Nov 22, 2011 4:52am Nov 22, 2011 4:52am
Quoting redsword11
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possible outcome
  • #292,998
  • Nov 22, 2011 5:50am Nov 22, 2011 5:50am
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scalp
  • #292,999
  • Nov 22, 2011 6:03am Nov 22, 2011 6:03am
Quoting redsword11
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scalp


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out most
  • #293,000
  • Nov 22, 2011 7:25am Nov 22, 2011 7:25am
Quoting redsword11
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out most

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