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Cable Update (GBPUSD)

  • #294,881
  • Dec 16, 2011 2:05am Dec 16, 2011 2:05am
Quoting Mamamia
hi,im new here..
any suggestions?

wait the 5540-70 area to be cleared for that kind of trade.
bit too early now, price can easy go in 54 area again and go very near your stop.
be careful!
90% of traders use TA, indicators and prediction
  • #294,882
  • Dec 16, 2011 2:07am Dec 16, 2011 2:07am
Quoting PoundTrader
out the for the week, be back trading next week.
have a good weekend!
90% of traders use TA, indicators and prediction
  • #294,883
  • Dec 16, 2011 2:09am Dec 16, 2011 2:09am
Quoting PoundTrader
out the for the week, be back trading next week.
But theres about 100 more pips to be made today. Have fun.
Come with me if you want to live....
  • #294,884
  • Dec 16, 2011 2:15am Dec 16, 2011 2:15am
nervous for draghi speech in a few minutes
anybody think his speech today will cause an uproar
  • #294,885
  • Dec 16, 2011 2:16am Dec 16, 2011 2:16am
Quoting Ill-b-back
Target 5490, where I will be looking at price action for a buy off the 50% retrace and lower trendline point targetting 5585

typical rising wendge in h1 bouncing in good level 5540.
building kind of bear flag.

a fail in 5490 and next is 5460-75.
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90% of traders use TA, indicators and prediction
  • #294,886
  • Dec 16, 2011 2:18am Dec 16, 2011 2:18am
Attached Image (click to enlarge)
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Gone to a better place
  • #294,887
  • Dec 16, 2011 2:23am Dec 16, 2011 2:23am
price lost daily opening level.
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90% of traders use TA, indicators and prediction
  • #294,888
  • Dec 16, 2011 2:33am Dec 16, 2011 2:33am
I think we might be having a little play with 1.5500
Gone to a better place
  • #294,889
  • Dec 16, 2011 2:55am Dec 16, 2011 2:55am
USDX pulling back now.

USD/CHF posted a bearish engulfing bar yesterday off .9500.

I'm short USD using NZD and CHF. I also have a small GBP trade.
Gone to a better place
  • #294,890
  • Dec 16, 2011 2:57am Dec 16, 2011 2:57am
These are my last trades this year. Have a great holiday everyone.
Gone to a better place
  • #294,891
  • Dec 16, 2011 3:25am Dec 16, 2011 3:25am
Quoting smikester
These are my last trades this year. Have a great holiday everyone.
You too
  • #294,892
  • Dec 16, 2011 3:46am Dec 16, 2011 3:46am
Quoting smikester
These are my last trades this year. Have a great holiday everyone.
have a good holiday
90% of traders use TA, indicators and prediction
  • #294,893
  • Dec 16, 2011 3:59am Dec 16, 2011 3:59am
Quoting _BBKing_
typical rising wendge in h1 bouncing in good level 5540.
building kind of bear flag.

a fail in 5490 and next is 5460-75.
Yes I agree, looks like a good set up for trend continuance. I have made my money down to my target, placed 4 trades for 25 pips back up and added 15% to account. Will watch things closely now.
Come with me if you want to live....
  • #294,894
  • Dec 16, 2011 4:10am Dec 16, 2011 4:10am
Im just curious, if trendlines are not too important, why are so many people here and elsewhere using them?
Come with me if you want to live....
  • #294,895
  • Dec 16, 2011 4:29am Dec 16, 2011 4:29am
Quoting Ill-b-back
Im just curious, if trendlines are not too important, why are so many people here and elsewhere using them?
oh no! they are important!!!!
what i said earlier is that it's the price who moves into lines and sup/dem areas, so better look at what is doing price. so if it is moving up or down and how much strong is the move, and mostly beahviour
a line/area is there and you cant know if or when price will reach it.
and we also can't know if there is a line before price reaches it for the second touch. usually TL are corresponding to supply/demand areas, where price action already gave signs of a move in the past.

so: they are very important! but price is definetly first thing to read!
90% of traders use TA, indicators and prediction
  • #294,896
  • Dec 16, 2011 4:39am Dec 16, 2011 4:39am
Quoting Ill-b-back
Im just curious, if trendlines are not too important, why are so many people here and elsewhere using them?

trendlines in my experience are very important purely cause they reduce the risk in the trade...its gives the first indication quickest change in direction ,edge u could ask for..

but are secondary in priority against support/resistance (horizontal) in my experience..the trick is not the trendlines as such but a certain geometry that it offers to be the real deal

and spotting this is the trick..hence why most people use them but not to major success.. imho
  • #294,897
  • Dec 16, 2011 4:46am Dec 16, 2011 4:46am
Quoting _BBKing_
have a good weekend!
  • #294,898
  • Dec 16, 2011 4:47am Dec 16, 2011 4:47am
Quoting Ill-b-back
But theres about 100 more pips to be made today. Have fun.
greed is good only when its control
  • #294,899
  • Dec 16, 2011 4:47am Dec 16, 2011 4:47am
Is 5550 the best you can do? Come on, get some Balls and drive this piece of garbage the britt"s call currency, to the moon!
  • #294,900
  • Dec 16, 2011 5:07am Dec 16, 2011 5:07am
Sell..
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