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Cable Update (GBPUSD)

  • #303,861
  • Mar 15, 2012 5:29am Mar 15, 2012 5:29am
Quoting smikester
Yes you are right. 1.57 is right in the way. I should shut up. I'm just messing about really as I have made my pips this week and today doesn't look good for my strategy. I should shut up. Too much coffee.

See....what I meant.........
I don't trust any move - when you have profit...take it.
  • #303,862
  • Mar 15, 2012 5:29am Mar 15, 2012 5:29am
Quoting UbuFamily
produced twice a month 1stMarch to 15thMarch 2012...
totally scalper...totally cable only..& totally SHORT...
and yup I do have a long name..

Attachment

win vs lose
Attachment
sorry i had to hide the profit..
Cheers
Nice Curve, may i share one of my account performance??
https://www.myfxbook.com/portfolio/f...-adryfx/260406
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,863
  • Mar 15, 2012 5:29am Mar 15, 2012 5:29am
Quoting Ill-b-back
This hour?
I hate this as I usually just sit at charts to see how a strong profitable trade is travelling. I don't like sitting hear eating dinner watching PA.

My thinking if I just wanted to take things easier was to wait for a weekly close above 57 and strong resistance/support, off the current 50 retrace (5613 or so) then buy dips up past 5990.
I'm thinking if we close above 57 this day/week that would become a strong base again?
It just feels like it should and fits with the fib.
And above a favourite ema on the 4hour and daily.
Plan...
hi mate, i notice that you're using the stop order, i think it's not a good idea to use stop order as a method of trading since usually it's placed on the support/resistance. i think it's better to use the limit order.. hope you're not offended by this.. just my opinion..
  • #303,864
  • Mar 15, 2012 5:35am Mar 15, 2012 5:35am
reversed my position and currently long @ 5645.. a test position of the support as you all may have noticed it already..
  • #303,865
  • Mar 15, 2012 5:39am Mar 15, 2012 5:39am
only 37% of it's 20 day atr travelled so far today, 53% of 20 week atr so far this week.

If current daily lo area is not a short trem support then the previous 1hr swing hi to 5676 and 38.2% of the move down from 5746 to today's current lo may be a short term resistance ?

All a bit muddled atm inbetween those

G/L
ex member
  • #303,866
  • Mar 15, 2012 5:49am Mar 15, 2012 5:49am
Quoting bguguen
Nice Curve, may i share one of my account performance??
https://www.myfxbook.com/portfolio/f...-adryfx/260406

I saw your account...how can I register in it? It seems interesting and complete details...LOL and u forget to hide your money..anyway it's up to u right...and I realized your leverage are very very small....u must be shocking dead if u saw my lot sizes...its very very huge!! I think i'm not afraid of dying here LOL just kidding...but mine are really huge...just imagine your total balance are 3 times of mine but my lot size are 500 times bigger than u...crazy huh..
I trade to live
  • #303,867
  • Mar 15, 2012 5:49am Mar 15, 2012 5:49am
Quoting bbmac
but does anyone else get this ? Lol !
L
No. It's just you. Chinese women are targetting you.
Gone to a better place
  • #303,868
  • Mar 15, 2012 5:50am Mar 15, 2012 5:50am
market is testing peoples patience and shaking the sh*t of the bus

for which direction god only knows
  • #303,869
  • Mar 15, 2012 5:52am Mar 15, 2012 5:52am
It seems that 5650 level will hold, that leaves this pair to penetrate 5700. as bguguen says, waiting for that to happen can be quite painful .
Attached Image
  • #303,870
  • Mar 15, 2012 5:54am Mar 15, 2012 5:54am
Quoting UbuFamily
I saw your account...how can I register in it? It seems interesting and complete details...LOL and u forget to hide your money..anyway it's up to u right...and I realized your leverage are very very small....u must be shocking dead if u saw my lot sizes...its very very huge!! I think i'm not afraid of dying here LOL just kidding...but mine are really huge...just imagine your total balance are 3 times of mine but my lot size are 500 times bigger than u...crazy huh..
Well im not shy to show my account size... besides im 19 and atleast i have a mind to invest rather than spend away the 3k usd i could come up with...
3k usd is already a lot of money for someone like me who doesnt have a job and living by my father's expenses for the time being... trying my best to grow this account and perhaps one day itll start providing for my family....
but i am aware a lot of people here are a lot richer than i am, but i think the important thing to see if the account is growing or not is actually the Percentage Gain over time.... if it gains... great!
if not.. well then you're chewing up your capital regardless of the amount you invest...

BTW in forex its A LOT HARDER to trade with 1000 usd rather than an account with 100000 usd... simply because 0.01 margin requirement is somewhat proportionately larger on a 1000 usd than in a 100000 usd account...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,871
  • Mar 15, 2012 5:54am Mar 15, 2012 5:54am
I'm hoping so - they are the future ! Didn't nostradamus say so - or something like that ! I like to stay 'ahead of the curve.'

G/L

Quoting smikester
No. It's just you. Chinese women are targetting you.
ex member
  • #303,872
  • Mar 15, 2012 5:55am Mar 15, 2012 5:55am
Quoting nAVIN2007
market is testing peoples patience and shaking the sh*t of the bus

for which direction god only knows
now I know that GOD is also a currency trader............
I trade to live
  • #303,873
  • Mar 15, 2012 5:57am Mar 15, 2012 5:57am
Tell me how anyone is getting a signal on a small time frame.........this is called chop you up sewy
Attached Image (click to enlarge)
Click to Enlarge Name: Pound.png Size: 41 KB
I don't trust any move - when you have profit...take it.
  • #303,874
  • Mar 15, 2012 6:00am Mar 15, 2012 6:00am
This choppy market is great on the smaller t/f's - classic divergence plays etc and not against a strong trend - top and bottom of ranges etc... 15min and below particularly 5min and below can be very productive...but for anyone trying to take a longer term position when the market is clearly telling us that it is currently undecided about future near-term direction - possibly not so -unless they have a wide stop/are lucky or both !

G/L

Quoting Faller
Tell me how anyone is getting a signal on a small time frame.........this is called chop you up sewy
ex member
  • #303,875
  • Mar 15, 2012 6:03am Mar 15, 2012 6:03am
Quoting A-speculator
hi mate, i notice that you're using the stop order, i think it's not a good idea to use stop order as a method of trading since usually it's placed on the support/resistance. i think it's better to use the limit order.. hope you're not offended by this.. just my opinion..
Hey mate not offended at all, in fact I said just the same thing to bguegen a few pages back about my own post. I don't like stop orders at all, I prefer peaks and troughs and limits.
I just didn't want to miss the train and descending channel break, but I think I will cancel them as this was on my mind also due to current price indecision despite strong bearish pressure from last week PA and daily bearish MACD Divergence. I get the feeling if it were going to go down, it probably should have by now.
Strange bullish action late last week also got me thinking something was up (pardon the pun).

I don't think I will be trading this week. I do get the feeling there are going to be a lot of decent short term daily swing trades coming up though, as was the case in NOV, DEC and FEB, particularly if we head north again.

Thanks a lot for making my day/week easier
Come with me if you want to live....
  • #303,876
  • Mar 15, 2012 6:07am Mar 15, 2012 6:07am
Quoting Ill-b-back
This hour?
I hate this as I usually just sit at charts to see how a strong profitable trade is travelling. I don't like sitting hear eating dinner watching PA.

My thinking if I just wanted to take things easier was to wait for a weekly close above 57 and strong resistance/support, off the current 50 retrace (5613 or so) then buy dips up past 5990.
I'm thinking if we close above 57 this day/week that would become a strong base again?
It just feels like it should and fits with the fib.
And above a favourite ema on the 4hour and daily.
Plan...
I think the tell was the daily close below 1.5650 on Monday. Tuesday was a bit bullish, though. Longer term longs should be very careful - and if it drops, longer term longs will close fast, so it'll drop like a rock.

Someone was on about trombone formations earlier... I think they mean megaphone. It's a classic topping out expanding triangle, but we need to revisit 1.6 or 1.61 to validate that pattern as I believe it should have 3 touches at the top - basically where the bulls take profit and give up. It also validates as an Elliot wave formation fwiw.
Gone to a better place
  • #303,877
  • Mar 15, 2012 6:08am Mar 15, 2012 6:08am
Quoting UbuFamily
produced twice a month 1stMarch to 15thMarch 2012...
totally scalper...totally cable only..& totally SHORT...
and yup I do have a long name..

Attachment

win vs lose
Attachment
sorry i had to hide the profit..
Cheers
What do you mean by produced twice per month. Please excuse my ignorance
Come with me if you want to live....
  • #303,878
  • Mar 15, 2012 6:09am Mar 15, 2012 6:09am
Ooops. Here's the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd120315d1.gif Size: 31 KB
Gone to a better place
  • #303,879
  • Mar 15, 2012 6:13am Mar 15, 2012 6:13am
Quoting Ill-b-back
Hey mate not offended at all, in fact I said just the same thing to bguegen a few pages back about my own post. I don't like stop orders at all, I prefer peaks and troughs and limits.
I just didn't want to miss the train and descending channel break, but I think I will cancel them as this was on my mind also due to current price indecision despite strong bearish pressure from last week PA and daily bearish MACD Divergence. I get the feeling if it were going to go down, it probably should have by now.
Strange bullish action late last week also got...
yups, since we currently seeing quite a pullback in swissy and eurgbp, which will bring more upside to fiber, perhaps we might have a pullback also in cable.. i'm not suggesting anything here but there's an old saying that if you're unsure, better stop trading.. but i'll take chances to long after TPed at 5645.. if that's area breaks, i'm gonna call it a week.. don't chase the price mate, always remember that, better to have missed the train rather than to be in the wrong train..
  • #303,880
  • Mar 15, 2012 6:14am Mar 15, 2012 6:14am
Quoting smikester
I think the tell was the daily close below 1.5650 on Monday. Tuesday was a bit bullish, though. Longer term longs should be very careful - and if it drops, longer term longs will close fast, so it'll drop like a rock.

Someone was on about trombone formations earlier... I think they mean megaphone. It's a classic topping out expanding triangle, but we need to revisit 1.6 or 1.61 to validate that pattern as I believe it should have 3 touches at the top - basically where the bulls take profit and give up. It also validates as an Elliot...
5633 or so if wantig to get in early?
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade44gif.gif Size: 14 KB
Come with me if you want to live....
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