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Cable Update (GBPUSD)

  • #304,761
  • Mar 22, 2012 5:57pm Mar 22, 2012 5:57pm
Quoting baherhosni
Oh if I just can tell you how much there is not much "ass" left for the hedging to bite hehe. The idea is to start the wave small and build on it at S/R levels like you stated. After all these are where potential reversals or even retracements occur. with the help good math, and blessing from God, I should be able to manage to close these positions in profit. I don't calculate my success in profitable pips. I strive to get the profit in safe lot sizes (money management) and the proper TPs that would make me able to close a cluster of my...
well, i normally only take one side of a trade, i follow the major intraday trend so i don't do long 5 mins and then short the other 15mins.. etc. Anyway, everyone has their own styles.. you do what you think best for you, what works for you may not works for me.

From what i see, the ultimate target in the terms of daily analysis for bearish is 5360 after the price taken out 5600. So, holding long at about 5800 level to me seems a bit off..

Daily here means that it will get to that point in a few weeks since a week only have 5 candles.
  • #304,762
  • Mar 22, 2012 6:01pm Mar 22, 2012 6:01pm
Bahersnoni :
I agree with A-speculator opinion, i was in your position, it will be safe as long as cable swing arround your position, just beware with long trend ..... all planned green pips may be will not be come true...u should manage lot size properly, know when to close to minimize your risk, good luck!!!
  • #304,763
  • Mar 22, 2012 6:05pm Mar 22, 2012 6:05pm
while i was chatting with baherhosni, my PO triggered at 5820, seems like we have quite a support at about 5750 area where two fibo collide each other. Because of we are very close to that area, the price of interest imho to me is the 5660 level.

Please excuse me of my messy chart. it's the ichimoku that made it looks messy.. lol.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 37 KB
  • #304,764
  • Mar 22, 2012 6:10pm Mar 22, 2012 6:10pm
Quoting A-speculator
well, i normally only take one side of a trade, i follow the major intraday trend so i don't do long 5 mins and then short the other 15mins.. etc. Anyway, everyone has their own styles.. you do what you think best for you, what works for you may not works for me.

From what i see, the ultimate target in the terms of daily analysis for bearish is 5360 after the price taken out 5600. So, holding long at about 5800 level to me seems a bit off..

Daily here means that it will get to that point in a few weeks since a week only have 5 candles.
Well, yes.. from your strategy's point of view that would seem "very" off not just a bit, but trust me when I tell you that it works great from my strategy's point of view. And there are hundreds of strategies out there. right?

And to be frank I am testing this strategy on a small live account as you may figure out from the Trade Explorer. So, this is in fact just a final test of the strategy which was developed and being tested between me and another two friends who trade this pair as well. And if it passes the final tests, I have hopes that this small fund will soon turn to be my primary live account. In fact I am testing it on kiwi too but still on demo.

Anyway, Just like you kindly stated, the important thing is that we all get more money in your balance than what you started with. And be happy.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,765
  • Mar 22, 2012 6:11pm Mar 22, 2012 6:11pm
The animal get tired , everyone in here revenge.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #304,766
  • Mar 22, 2012 6:13pm Mar 22, 2012 6:13pm
Quoting baherhosni
I guess it reflected on the PA on the spot. But you know how it is during Asia, there is not much volume and momentum to break through walls very easily.

Asians can surprise you....and this is not a racists comment or anything....I mean the Asian session......I have seen them move and shake.
I don't trust any move - when you have profit...take it.
  • #304,767
  • Mar 22, 2012 6:23pm Mar 22, 2012 6:23pm
my consideration for the entry is:

i see that swissy found support at 9130 and fiber at about the resistance at the low 3200 price level. if that s&r level is respected, we will have a move in cable, my 2 cents. both is also my entry price.

I have undecided opnion in eurgbp, meaning that i can't decide atm how the pair will react towards the movement of both fiber and cable.
  • #304,768
  • Mar 22, 2012 6:27pm Mar 22, 2012 6:27pm
Get jiggy......gold shaking around with silver......Euro is jumping.....oil a little jittery......

the market is nervous.....
I don't trust any move - when you have profit...take it.
  • #304,769
  • Mar 22, 2012 6:35pm Mar 22, 2012 6:35pm
Quoting Faller
Get jiggy......gold shaking around with silver......Euro is jumping.....oil a little jittery......

the market is nervous.....
Quoting A-speculator
my consideration for the entry is:

i see that swissy found support at 9130 and fiber at about the resistance at the low 3200 price level. if that s&r level is respected, we will have a move in cable, my 2 cents. both is also my entry price.

I have undecided opnion in eurgbp, meaning that i can't decide atm how the pair will react towards the movement of both fiber and cable.
You both are really good at this. I am actaully trying hard to learn from you both and many other on this fine thread.

Thanks
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,770
  • Mar 22, 2012 6:37pm Mar 22, 2012 6:37pm
Quoting 45Condor
You mean, like, another move down to the 23.6 FE, and if it breaks this time, the 38.2 FE...hey, I ain't saying owt, just looking.
I really don't mean to ruffle any feathers Condor (pardon the pun), but I'm curious how your upper TL above price is legitimate. It seems to me the line is being repositioned further northwards with price as shown by reluctance to include the mild spike before the *%#+ really hit the market fan at the top in '07 in the TL positioning. Even ignoring this, why could not the weekly "head" peak be a part of the TL, meaning it has now been broken north? If you draw a line connecting the two peaks of '07, price shows the line has been broken, retested and has been heading generally north ever since. ( I posted a chart yesterday showing my line which has a parallel opposite line showing a clear channel that has been broken). It is nAVs actually but it made sense to me. Thx very much for your time. It seems we share some general views on gold also. Sorry, am on phone do cannot repost chart.
Come with me if you want to live....
  • #304,771
  • Mar 22, 2012 6:39pm Mar 22, 2012 6:39pm
Quoting A-speculator
my consideration for the entry is:

i see that swissy found support at 9130 and fiber at about the resistance at the low 3200 price level. if that s&r level is respected, we will have a move in cable, my 2 cents. both is also my entry price.

I have undecided opnion in eurgbp, meaning that i can't decide atm how the pair will react towards the movement of both fiber and cable.
i think we will see movement in a few hours time basing on the 1h candles.. oh well, it's asian isn't it?
  • #304,772
  • Mar 22, 2012 6:51pm Mar 22, 2012 6:51pm
Quoting baherhosni
You both are really good at this. I am actaully trying hard to learn from you both and many other on this fine thread.

Thanks
since we are in asean session, i think i want to share with you my current research.

TA has not interest me anymore. I've been using TA for the past 7 years. what TA can do is to actually tell you the price factor of the market only.

Lately, i found out that we can also analyze the time factor of the price, meaning that we can predict when the reversal will happen or when will the start of a bullish or bearish trend by pretty accurate percentage. this can be done by using numerous statistical methods but one that catches my interest is to use astrology as the method of predicting the time factor. So, atm i am studying financial astrology in predicting the time factor of the price.
  • #304,773
  • Mar 22, 2012 6:58pm Mar 22, 2012 6:58pm
Quoting A-speculator
since we are in asean session, i think i want to share with you my current research.

TA has not interest me anymore. I've been using TA for the past 7 years. what TA can do is to actually tell you the price factor of the market only.

Lately, i found out that we can also analyze the time factor of the price, meaning that we can predict when the reversal will happen or when will the start of a bullish or bearish trend by pretty accurate percentage. this can be done by using numerous statistical methods but one that catches my interest is to use...

I guess anything is possible......we have ot keep our minds open.....there is more to this world then we can see with our eyes.

Faller...
I don't trust any move - when you have profit...take it.
  • #304,774
  • Mar 22, 2012 7:01pm Mar 22, 2012 7:01pm
oil making daily lows.....russell and nq pushing lows of the night......

there was some bad data out last night and I really do not think we got the response that we thought.......once the market has time to digest that data which was so so so terrible......many market participants probably did not want to believe the data..............I have read that the numbers were actually worse then what they published not to cause a panic......in time I think we will see the appropriate move in the markets....
I don't trust any move - when you have profit...take it.
  • #304,775
  • Mar 22, 2012 7:06pm Mar 22, 2012 7:06pm
Quoting A-speculator
since we are in asean session, i think i want to share with you my current research.

TA has not interest me anymore. I've been using TA for the past 7 years. what TA can do is to actually tell you the price factor of the market only.

Lately, i found out that we can also analyze the time factor of the price, meaning that we can predict when the reversal will happen or when will the start of a bullish or bearish trend by pretty accurate percentage. this can be done by using numerous statistical methods but one that catches my interest is to...
Wow.. amazingly interesting.. And yes Faller, I guess we do need to keep an open mind!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,776
  • Mar 22, 2012 7:10pm Mar 22, 2012 7:10pm
Quoting Faller
oil making daily lows.....russell and nq pushing lows of the night......

there was some bad data out last night and I really do not think we got the response that we thought.......once the market has time to digest that data which was so so so terrible......many market participants probably did not want to believe the data..............I have read that the numbers were actually worse then what they published not to cause a panic......in time I think we will see the appropriate move in the markets....
well, there a lot activities can happen in the market, taking profits, execution of the stop orders, the bears and the bulls.. i don't expect the price will move down in a straight line.. we will get to 5600 level eventually.. but not in the straight line. As we has advance very well upside, this time i think we might break that 5600 level and the next price that interest me is the 5360 which is the fibo extension of last wave down in daily..
  • #304,777
  • Mar 22, 2012 7:15pm Mar 22, 2012 7:15pm
I think this thing is going to continue down until we get to 1.5650 level, pull back a bit, and possibly test a lower low.

Euro zone is in the shitter, and as much as some people like to think GBP is isolated from the EZ, it isn't.

Price is pulling back quite a bit after these moves from everyone trying to buy the bottom. These people are just going to get flattened by banks if they stick in these trades, IMO.

We're also stuck at/behind 1.5820 which is a very established resistance level. My thought is that price is going to swing past Asian high, maybe 1.5835/40
and head down.

As always, take everything I say with a grain of salt, just my view on the situation.
  • #304,778
  • Mar 22, 2012 7:21pm Mar 22, 2012 7:21pm
This hesitant bearish action looks very similar to the run down from 5990. Bearish overall but buying action to limit the fall.
Come with me if you want to live....
  • #304,779
  • Mar 22, 2012 7:24pm Mar 22, 2012 7:24pm
Quoting C5fx
I think this thing is going to continue down until we get to 1.5650 level, pull back a bit, and possibly test a lower low.

Euro zone is in the shitter, and as much as some people like to think GBP is isolated from the EZ, it isn't.

Price is pulling back quite a bit after these moves from everyone trying to buy the bottom. These people are just going to get flattened by banks if they stick in these trades, IMO.

We're also stuck at/behind 1.5820 which is a very established resistance level. My thought is that price is going to swing past Asian...
initially i also have my PO at 5840 level since that is the price where it's stall so long.. but after taken few other considerations, i lowered it to 5820 but i still think that 5840 is the best possible entry for short. My consideration of the price might not been able to get to 5840 is due to the fact that both the fiber and swissy has reached their s&r level..
  • #304,780
  • Mar 22, 2012 7:27pm Mar 22, 2012 7:27pm
Quoting Ill-b-back
This hesitant bearish action looks very similar to the run down from 5990. Bearish overall but buying action to limit the fall.

How's it going my friend? You trading active or just watching and waiting for an entry?

Hope the sun is out where you are - today it was sunny and 32 C where I live.....beauty day.....normal temps are just 10 C for this time of day!
I don't trust any move - when you have profit...take it.
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