Cable Update (GBPUSD) | Page 15216 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #304,301
  • Mar 20, 2012 3:39pm Mar 20, 2012 3:39pm
Quoting Ill-b-back
I'm not saying we are necessarily going south long term, but the daily 200sma may require more consolidation, so maybe down-up. Who knows?
I see that u already quite good at judging the time factor of the price.. well done mate. For me, as long as the price does not violate the downtrend, it will go down.. 1st indication are the down move in aussie and kiwi.. later we will see fiber and eventually cable will follow.. imho.
  • #304,302
  • Mar 20, 2012 3:48pm Mar 20, 2012 3:48pm
Quoting A-speculator
I see that u already quite good at judging the time factor of the price.. well done mate. For me, as long as the price does not violate the downtrend, it will go down.. 1st indication are the down move in aussie and kiwi.. later we will see fiber and eventually cable will follow.. imho.

I don't trust any move - when you have profit...take it.
  • #304,303
  • Mar 20, 2012 3:52pm Mar 20, 2012 3:52pm
Quoting A-speculator
I see that u already quite good at judging the time factor of the price.. well done mate. For me, as long as the price does not violate the downtrend, it will go down.. 1st indication are the down move in aussie and kiwi.. later we will see fiber and eventually cable will follow.. imho.
Hey Speculator how's things? I turn a blind eye to other pairs, it confuses me. If she goes north, buy stop will catch it but pa looks bearish, anyway. If she grabs my buy stop then heads south again, well, you know the drill
Come with me if you want to live....
  • #304,304
  • Mar 20, 2012 3:55pm Mar 20, 2012 3:55pm
Quoting A-speculator
I see that u already quite good at judging the time factor of the price.. well done mate. For me, as long as the price does not violate the downtrend, it will go down.. 1st indication are the down move in aussie and kiwi.. later we will see fiber and eventually cable will follow.. imho.
Oh man, I swear there is something wrong with my eyes. I thought I read" as long as it doesn't violate the uptrend, it will go up. Sheesh, something amiss here.
Come with me if you want to live....
  • #304,305
  • Mar 20, 2012 3:59pm Mar 20, 2012 3:59pm
Quoting A-speculator
I see that u already quite good at judging the time factor of the price.. well done mate. For me, as long as the price does not violate the downtrend, it will go down.. 1st indication are the down move in aussie and kiwi.. later we will see fiber and eventually cable will follow.. imho.
Thank by the way, sorry
Come with me if you want to live....
  • #304,306
  • Mar 20, 2012 4:22pm Mar 20, 2012 4:22pm
Quoting Ill-b-back
Hey Speculator how's things? I turn a blind eye to other pairs, it confuses me. If she goes north, buy stop will catch it but pa looks bearish, anyway. If she grabs my buy stop then heads south again, well, you know the drill
I'm doing fine, thanks for asking.

Why are u using buy stop as your risk limitation? is it buy stop order for you stop loss or are u using it as a hedge mechanism? to be frank, i think to hedge is not a very good idea, better to use stop loss and get out of the market as soon as you got it wrong so that your mind is clear and the next trading decision will prevent you from trying to get "revenge" from the market. I always remember (quoted from a book which i already forgot what tittle it is), that do not enter the market (make a trading decision) as soon as you been stopped out or after taking profits..

Good Luck.
  • #304,307
  • Mar 20, 2012 4:24pm Mar 20, 2012 4:24pm
Quoting A-speculator
I'm doing fine, thanks for asking.

Why are u using buy stop as your risk limitation? is it buy stop order for you stop loss or are u using it as a hedge mechanism? to be frank, i think to hedge is not a very good idea, better to use stop loss and get out of the market as soon as you got it wrong so that your mind is clear and the next trading decision will prevent you from trying to get "revenge" from the market. I always remember (quoted from a book which i already forgot what tittle it is), that do not enter the market (make a trading decision)...
What i mean by taking profit is the profit that is taken by valid technical reasons eg. at fibo level/s&r level etc.. and not taking profit due to fear or greed..
  • #304,308
  • Mar 20, 2012 4:28pm Mar 20, 2012 4:28pm
IF this thing is in a diamond, it may yet spike up 30 pips or so to form a higher "right shoulder" or whatever the eqivalent is in a diamond.
  • #304,309
  • Mar 20, 2012 4:35pm Mar 20, 2012 4:35pm
Something to watch......


http://www.cnbc.com/id/46776908
I don't trust any move - when you have profit...take it.
  • #304,310
  • Mar 20, 2012 5:17pm Mar 20, 2012 5:17pm
Quoting A-speculator
I'm doing fine, thanks for asking.

Why are u using buy stop as your risk limitation? is it buy stop order for you stop loss or are u using it as a hedge mechanism? to be frank, i think to hedge is not a very good idea, better to use stop loss and get out of the market as soon as you got it wrong so that your mind is clear and the next trading decision will prevent you from trying to get "revenge" from the market. I always remember (quoted from a book which i already forgot what tittle it is), that do not enter the market (make a trading decision)...
Hi bro, I was waiting for you to ask me this exact question after our history last week. My system is actually entirely mechanical but with a solid technical foundation. It is custom built. It is not always right but doesn't need to be. I instinctively dislike stop orders particularly for this spikey pair and never really used them much. However, I have been forced to start my account over again with 500 after house repairs and I thought I would try them out to turn losses into wins or Break Evens. My system is very accurate in telling me where to put SL, by that I mean price will very rarely ever go up to hit it then come back down. After observing PA at my SL in the past showing it would keep going, I still resisted using stop orders because risking too much money. So now I have the opportunity to test it while account is small. I am conservative with trade size also. It is partly revenge trading but it also feels to me 50 percent just testing my system integrity.
Come with me if you want to live....
  • #304,311
  • Mar 20, 2012 5:26pm Mar 20, 2012 5:26pm
Quoting Mpt
IF this thing is in a diamond, it may yet spike up 30 pips or so to form a higher "right shoulder" or whatever the eqivalent is in a diamond.
Just like the spike down we got last week which I played with?
Come with me if you want to live....
  • #304,312
  • Mar 20, 2012 5:35pm Mar 20, 2012 5:35pm
Quoting Ill-b-back
Just like the spike down we got last week which I played with?
Well, I really don't know. It looks to me that it's still forming the pattern, but you won't know the overall width and height until it's over. Sorry to sound vague, but it's still not clear.

There's one thing to consider though. Cable has now had an open and close above the daily 200 SMA. Significant? No idea.
  • #304,313
  • Mar 20, 2012 5:40pm Mar 20, 2012 5:40pm
Quoting Ill-b-back
Hi bro, I was waiting for you to ask me this exact question after our history last week. My system is actually entirely mechanical but with a solid technical foundation. It is custom built. It is not always right but doesn't need to be. I instinctively dislike stop orders particularly for this spikey pair and never really used them much. However, I have been forced to start my account over again with 500 after house repairs and I thought I would try them out to turn losses into wins or Break Evens. My system is very accurate in telling me where...
perhaps it's just me (the old-school dude) who never gets the hang of hedging positioning. But i do hedge you know but not in the same currency/instrument. By what i mean by hedging is i do have several other position which was entered in different time relative to my other positions.

i think, best is i should not comment in how you trade, right? everyone has their own different styles of trading and what works for me maybe doesn't work with others. Enjoy your pips mate..
  • #304,314
  • Mar 20, 2012 5:45pm Mar 20, 2012 5:45pm
Quoting Ill-b-back
Hi bro, I was waiting for you to ask me this exact question after our history last week. My system is actually entirely mechanical but with a solid technical foundation. It is custom built. It is not always right but doesn't need to be. I instinctively dislike stop orders particularly for this spikey pair and never really used them much. However, I have been forced to start my account over again with 500 after house repairs and I thought I would try them out to turn losses into wins or Break Evens. My system is very accurate in telling me where...
Hey that's kinds like my situation!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,315
  • Mar 20, 2012 5:50pm Mar 20, 2012 5:50pm
Quoting Mpt
Well, I really don't know. It looks to me that it's still forming the pattern, but you won't know the overall width and height until it's over. Sorry to sound vague, but it's still not clear.

There's one thing to consider though. Cable has now had an open and close above the daily 200 SMA. Significant? No idea.
i think i mentioned last week that for cable to break more to the downside, we need more momentum since the support that holding the price is a cluster support and i do mentioned that for that to happen, the price need to go up so that it will be very attempting to the sellers.

If you see how the price pattern in daily and weekly, we're still have not violated the overall downtrend and at about the 5900 price level is the cluster resistance of the price range (1.6 is to be the ultimate resistance which i think very unlikely the price will move to that price but being not to underestimate the price let's just take into account the 1.6 level).

Asian session normally is when the market make its correction so let's see how the price pattern from the euro and london session until the US session.
  • #304,316
  • Mar 20, 2012 5:58pm Mar 20, 2012 5:58pm
PA in the last few mins reminds of how the EUR moves during the London session!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,317
  • Mar 20, 2012 6:04pm Mar 20, 2012 6:04pm
Quoting A-speculator
perhaps it's just me (the old-school dude) who never gets the hang of hedging positioning. But i do hedge you know but not in the same currency/instrument. By what i mean by hedging is i do have several other position which was entered in different time relative to my other positions.

i think, best is i should not comment in how you trade, right? everyone has their own different styles of trading and what works for me maybe doesn't work with others. Enjoy your pips mate..
I'm not sure on the exact definition of hedging, but my sell SL is the same price as my buy stop, so I am not carrying 2 opposing trades together. I am flexible and have carried long and shorts together until I get a clear signal of direction but not on this occassional. I agree with trading styles comment, we don't see what the other sees unless they choose to reveal it
Come with me if you want to live....
  • #304,318
  • Mar 20, 2012 6:16pm Mar 20, 2012 6:16pm
Quoting A-speculator
perhaps it's just me (the old-school dude) who never gets the hang of hedging positioning. But i do hedge you know but not in the same currency/instrument. By what i mean by hedging is i do have several other position which was entered in different time relative to my other positions.

i think, best is i should not comment in how you trade, right? everyone has their own different styles of trading and what works for me maybe doesn't work with others. Enjoy your pips mate..
You to mate
Come with me if you want to live....
  • #304,319
  • Mar 20, 2012 6:33pm Mar 20, 2012 6:33pm
Quoting Ill-b-back
You to mate
i have a modest target per week of at least 10% profit per week mate.. i don't go very aggressive nowadays, trying to enjoy sometime beside doing trading 24/5..

i believe that the more exposure you have in the market, the more chances you're ought to be wrong.. i don't know about you, but i think 10% per week is enough, not to mention if you have it compounded for a year..
  • #304,320
  • Mar 20, 2012 6:35pm Mar 20, 2012 6:35pm
I have been watching the 1/10 of a second chart and I am concerned about the price action I see.......can anyone help with that?
I don't trust any move - when you have profit...take it.
255 traders viewing now, 2 are registered:
tehboy
,
Santana2815