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Cable Update (GBPUSD)

  • #296,561
  • Jan 3, 2012 5:08pm Jan 3, 2012 5:08pm
Quoting bbakker
lol
i missed that post!
sorry
90% of traders use TA, indicators and prediction
  • #296,562
  • Jan 3, 2012 5:13pm Jan 3, 2012 5:13pm
Attached Image
90% of traders use TA, indicators and prediction
  • #296,563
  • Jan 3, 2012 5:17pm Jan 3, 2012 5:17pm
Quoting _BBKing_
lol

DP looks in a nice demand zone. If price stays above DP it will remain bullish.

This guy has the right idea!

Quoting bullzeye

Attachment
  • #296,564
  • Jan 3, 2012 5:21pm Jan 3, 2012 5:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
90% of traders use TA, indicators and prediction
  • #296,565
  • Jan 3, 2012 5:28pm Jan 3, 2012 5:28pm
Quoting _BBKing_
ok my dream is ended.
gave those 6 pips to market....
90% of traders use TA, indicators and prediction
  • #296,566
  • Jan 3, 2012 5:28pm Jan 3, 2012 5:28pm
Quoting _BBKing_
i think it will go to about ~5550 area mate..
  • #296,567
  • Jan 3, 2012 5:30pm Jan 3, 2012 5:30pm
i now go with my plan.

lets see if goes near 5625 and PA there.
90% of traders use TA, indicators and prediction
  • #296,568
  • Jan 3, 2012 5:32pm Jan 3, 2012 5:32pm
Quoting A-speculator
i think it will go to about ~5550 area mate..
as 5550 is about 38% of the retracement, i didn't put the h4 fibo, but if you take the low to the high of this current rally, you can see where the price i'm talking about.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 38 KB
  • #296,569
  • Jan 3, 2012 5:40pm Jan 3, 2012 5:40pm
Quoting A-speculator
as 5550 is about 38% of the retracement, i didn't put the h4 fibo, but if you take the low to the high of this current rally, you can see where the price i'm talking about.
Looks cool, how often are u right?
  • #296,570
  • Jan 3, 2012 5:40pm Jan 3, 2012 5:40pm
Quoting _BBKing_
ok my dream is ended.
gave those 6 pips to market....
6 unnecessary pips! You were focusing on the huge R/R ratio earlier as per your post here -

Quoting _BBKing_
my long looks like going good.
unbelievable!

im risking 5.5 pips for a 90 pips target.
Focus more on the actual trade, and less on the profit, pips or R/R targets. Don't get me wrong, targets are important, but one also needs to be flexible, look at the bigger picture and follow price. Easier said than done, granted, and can take years of practice.

It's like learning to play the piano. Everybody can play a couple of notes, but in order to become the best concert pianest, it takes years of practice and dedication. There are no shortcuts!
  • #296,571
  • Jan 3, 2012 5:44pm Jan 3, 2012 5:44pm
Quoting Pooks
Looks cool, how often are u right?
i don't know mate, never really counted..

anyway, my stoploss is above the fractal..
  • #296,572
  • Jan 3, 2012 5:47pm Jan 3, 2012 5:47pm
Quoting A-speculator
i don't know mate, never really counted..

anyway, my stoploss is above the fractal..
yeah, I am slight bearish too.. I get volume data, although its not real volume, just really tick quantity.. anyways it appears the volume today was lower than it was at the resistance we are at now back on the 20th thru 28th.. so maybe it holds and reverses.
  • #296,573
  • Jan 3, 2012 5:49pm Jan 3, 2012 5:49pm
Quoting Pooks
yeah, I am slight bearish too.. I get volume data, although its not real volume, just really tick quantity.. anyways it appears the volume today was lower than it was at the resistance we are at now back on the 27th and 28th.. so maybe it holds and reverses.
if it's reverse, it will only be a pullback since daily already suggest bullish sentiment is back,

so i'm trading this pullback as hit and run positions.
  • #296,574
  • Jan 3, 2012 5:50pm Jan 3, 2012 5:50pm
Quoting A-speculator
as 5550 is about 38% of the retracement, i didn't put the h4 fibo, but if you take the low to the high of this current rally, you can see where the price i'm talking about.
Did you run out of room on your chart for the fibo

Too much stuff on it for obscuring price my liking, but this is your chart and I have my charts.

We are all different when it comes to our charts, some like lots of indicators, other prefer none. It doesn't matter what the chart looks like, what is important is that it gives us the right signals to enter and exit a trade.
  • #296,575
  • Jan 3, 2012 5:53pm Jan 3, 2012 5:53pm
Quoting bbakker
6 unnecessary pips! You were focusing on the huge R/R ratio earlier as per your post here -



Focus more on the actual trade, and less on the profit, pips or R/R targets. Don't get me wrong, targets are important, but one also needs to be flexible, look at the bigger picture and follow price. Easier said than done, granted, and can take years of practice.

It's like learning to play the piano. Everybody can play a couple of notes, but in order to become the best concert pianest, it takes years of practice and dedication. There are no shortcuts!...
P.S. Here is a nice thread about the 10,000 hours rule - http://www.forexfactory.com/showthread.php?t=334407

Have a great week! See you soon!
  • #296,576
  • Jan 3, 2012 5:54pm Jan 3, 2012 5:54pm
Quoting bbakker
Did you run out of room on your chart for the fibo

Too much stuff on it for obscuring price my liking, but this is your chart and I have my charts.

We are all different when it comes to our charts, some like lots of indicators, other prefer none. It doesn't matter what the chart looks like, what is important is that it gives us the right signals to enter and exit a trade.
i agree that PA is the best way to trade, and i use indicators as the gauge to the market, i'm not using them as my trading signals.

without indicators, it's like flying an airplane without gauges, lol.. you know what i mean, right?
  • #296,577
  • Jan 3, 2012 5:54pm Jan 3, 2012 5:54pm
Quoting bbakker
Did you run out of room on your chart for the fibo

Too much stuff on it for obscuring price my liking, but this is your chart and I have my charts.

We are all different when it comes to our charts, some like lots of indicators, other prefer none. It doesn't matter what the chart looks like, what is important is that it gives us the right signals to enter and exit a trade.
LOL I've had some bad charts myself lol.. sometimes I spend hours just debating where to put an indicator, on the chart covering it up, or in a sub-window.. and than which one... its like Tom and Jerry when he has a angel cat on one shoulder and an evil cat on the other.
  • #296,578
  • Jan 3, 2012 6:05pm Jan 3, 2012 6:05pm
Quoting A-speculator
i agree that PA is the best way to trade, and i use indicators as the gauge to the market, i'm not using them as my trading signals.

without indicators, it's like flying an airplane without gauges, lol.. you know what i mean, right?
Again and this is just me personally, I find that indicators can give me too many conflicting signals, so I use them infrequently, but nonetheless, I have a few (MAs, trendlines, CCI, Fib, BB) that I use for confluence. The monthly and weekly charts tell me if we are flying high or low.
  • #296,579
  • Edited 7:35pm Jan 3, 2012 7:18pm | Edited 7:35pm
execuse me, can i joint this forum?
i just jointed ff yesterday...
i am an indonesian trader...
i only analyze GBPUSD...

http://postimage.org/image/ojkvjyryn/
ma daily just out of sd+1 bb weekly, that means weekly on the trending condition, so i'll try to find buy position on lower bb 8h or lower bb daily....
cmiiw...


regard
cg
forex... like it, trade it and manage it... get your profit...!!!
  • #296,580
  • Jan 3, 2012 8:07pm Jan 3, 2012 8:07pm
I am skeptical at this point of making new highs. It seems we are in a daily bearish TL, with longer bear than bull candles and a recent new recent low. Good recent data apparently,but is that enough?)
Come with me if you want to live....
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