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Cable Update (GBPUSD)

  • #304,821
  • Mar 23, 2012 2:53am Mar 23, 2012 2:53am
Quoting antgal23
frankie fakey anyone?

has to be a run on the sls of the many shorts
if you're wanted to short, still too soon in deciding the entry price imho.. let the price run for a while
  • #304,822
  • Mar 23, 2012 2:55am Mar 23, 2012 2:55am
No more Short for me...momentum has changed...try to close it at Enter or min loss...than probably long
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  • #304,823
  • Mar 23, 2012 2:56am Mar 23, 2012 2:56am
Quoting A-speculator
lol.. this the real war of terrorism.. lol.

actually this is life, if it is too easy, where's the challenge? this is why stops really a useful tool in trading, been saved by it many many times...
hehe true.

my problem is that i was looking to enter a long in GU or EU today, but hell, how can one get into this kind of move? at least i didn't have reason to do. luckily there were also no good reasons for short.
price is going to print a weekly + daily bullish. nothing else.
just few hours ago i told a friend was strongly possible a bullish move today!
uff, i missed the train :-(
90% of traders use TA, indicators and prediction
  • #304,824
  • Mar 23, 2012 2:57am Mar 23, 2012 2:57am
my short triggered y'day at 1.5890 but i think it might go to 1.5700 today so still in it - i think the market is short but big guns did a run on weak retailers surprise surprise

also, i never open a position 30 mins b4 or after London so ill not be adding if i do for another 33 min s
  • #304,825
  • Mar 23, 2012 2:59am Mar 23, 2012 2:59am
Quoting abdul_halim
Test...
long before london session
SL 1.5770
TP : open
update
TP close manually
Good Luck!
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  • #304,826
  • Mar 23, 2012 2:59am Mar 23, 2012 2:59am
Quoting _BBKing_
hehe true.

my problem is that i was looking to enter a long in GU or EU today, but hell, how can one get into this kind of move? at least i didn't have reason to do. luckily there were also no good reasons for short.
price is going to print a weekly + daily bullish. nothing else.
just few hours ago i told a friend was strongly possible a bullish move today!
uff, i missed the train :-(
yeah, it's ok i think to miss one or two train a week. better than to be hit by a train eh.. lol.

i can't say that i am bullish, as i see we have deceleration in price in daily TF.. but i'll let it run for a bit before deciding an entry point.. weekly, we might have a doji, i think.. not bullish yet to me..
  • #304,827
  • Mar 23, 2012 3:13am Mar 23, 2012 3:13am
Quoting antgal23
my short triggered y'day at 1.5890 but i think it might go to 1.5700 today so still in it - i think the market is short but big guns did a run on weak retailers surprise surprise

also, i never open a position 30 mins b4 or after London so ill not be adding if i do for another 33 min s
you've it all on the table yesterday but didn't take it eh.. you've been control by you're greed you know.. it's a clear 4h support level at 5750-5800 which is the area i TP all my positions yesterday..

try to overcome your greed mate..
  • #304,828
  • Mar 23, 2012 3:14am Mar 23, 2012 3:14am
Recent fundamentals showing down + weekly down + and of the month and quarter next week. Of course it doesn't mean that price can't go in opposite direction for a few hundred pips more..

It seems that in times when analysis looks to obvious and to good to be true - it is better to set considerably large stop loss limits for position trades.
69
  • #304,829
  • Mar 23, 2012 3:18am Mar 23, 2012 3:18am
Quoting Likerty
Recent fundamentals showing down + weekly down + and of the month and quarter next week. Of course it doesn't mean that price can't go in opposite direction for a few hundred pips more..

It seems that in times when analysis looks to obvious and to good to be true - it is better to set considerably large stop loss limits for position trades.
try not to set large stop loss.. try to place your order very near to the s&r level, by doing so, you will amaze by how much low you can set your sl level.. the downside is you might miss a few trades.. compared to losing a few trades than losing money in the market.. which one do you want?
  • #304,830
  • Mar 23, 2012 3:18am Mar 23, 2012 3:18am
Just a for interest chart of a failure of the head and shoulders, admittedly not the neatest formation in any case. Market jitters this week with rumours abounding:

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Well worth studying the price action around the lines.
Gone to a better place
  • #304,831
  • Mar 23, 2012 3:23am Mar 23, 2012 3:23am
Quoting A-speculator
try not to set large stop loss.. try to place your order very near to the s&r level, by doing so, you will amaze by how much low you can set your sl level.. the downside is you might miss a few trades.. compared to losing a few trades than losing money in the market.. which want do you want?
But in other way - there is always another s&r level further away and more away it is - more stronger it is too.

What is better - to take few 50 pip losses or to have one 150 pip sl that has never been triggered? At least for me it worked that way (for long term trades).
69
  • #304,832
  • Mar 23, 2012 3:25am Mar 23, 2012 3:25am
I wasnt at home to take action on the trade - not sure if I would have tbh - its not b/cuz of greed - its more like I see it going to 1.57 and thats it

if im wrong no big deal - im at BE

Quoting A-speculator
you've it all on the table yesterday but didn't take it eh.. you've been control by you're greed you know.. it's a clear 4h support level at 5750-5800 which is the area i TP all my positions yesterday..

try to overcome your greed mate..
  • #304,833
  • Mar 23, 2012 3:34am Mar 23, 2012 3:34am
Quoting Likerty
But in other way - there is always another s&r level further away and more away it is - more stronger it is too.

What is better - to take few 50 pip losses or to have one 150 pip sl that has never been triggered? At least for me it worked that way (for long term trades).
both is not good.. market can eat your margin by two way: 1) bit by bit which is call as piranha effect, lol 2) in one large sum, shark effect.. lol.

i don't do 50 pips sl.. like today, my entry is 5820 sl 5830, the reason i choose 5830 is because it is just above the 4h high. by placing your entry at the best level, you cannot be at the wrong direction every time.. if you always in the wrong direction, then you have to check with your TA..

as we speak, i see good level to enter fiber at 3270 with stop at 3290 which is just above the high of 4h candle. it is a risky trade but i think worth a test. just my 2 cents..
  • #304,834
  • Mar 23, 2012 3:46am Mar 23, 2012 3:46am
Quoting A-speculator
both is not good.. market can eat your margin by two way: 1) bit by bit which is call as piranha effect, lol 2) in one large sum, shark effect.. lol.

i don't do 50 pips sl.. like today, my entry is 5820 sl 5830, the reason i choose 5830 is because it is just above the 4h high. by placing your entry at the best level, you cannot be at the wrong direction every time.. if you always in the wrong direction, then you have to check with your TA..

as we speak, i see good level to enter fiber at 3270 with stop at 3290 which is the high of 4h candle....
You right of course - best way to trade is with best possible r:r ratio but it is more tricky some times then TA it self.
The point from witch I wrote firstly was that people trading on m15 tf's shouldn't consider fundamentals too much as it can and will turn against them as it happened today..
69
  • #304,835
  • Mar 23, 2012 3:55am Mar 23, 2012 3:55am
Quoting Likerty
You right of course - best way to trade is with best possible r:r ratio but it is more tricky some times then TA it self.
The point from witch I wrote firstly was that people trading on m15 tf's shouldn't consider fundamentals too much as it can and will turn against them as it happened today..
another thing is you have to keep in mind.. it is easier to cover small pips lost than to recover a large one.. always remember that and try to position the best price in trading.. by that means, you have to give up 15mins chart. if you encounter a high probability trade, but asking you to place very large stop loss due to the last swing high/low is very far, then move on.. there's always next time..
  • #304,836
  • Mar 23, 2012 3:55am Mar 23, 2012 3:55am
Faltering here. Wonder if we will make yesterday's high?
Gone to a better place
  • #304,837
  • Mar 23, 2012 4:00am Mar 23, 2012 4:00am
Quoting smikester
Faltering here. Wonder if we will make yesterday's high?
i would say ... "of course it will!"
problem is answering the question about "when it will!"
i mean, will it be taken with tis h1 candle or with next one?
90% of traders use TA, indicators and prediction
  • #304,838
  • Mar 23, 2012 4:01am Mar 23, 2012 4:01am
Quoting smikester
Faltering here. Wonder if we will make yesterday's high?
maybe it can, perhaps less one pip than yesterday's high..
  • #304,839
  • Mar 23, 2012 4:02am Mar 23, 2012 4:02am
Quoting A-speculator
maybe it can, perhaps less one pip than yesterday's high..
i'm just joking that mate.. line in the sand is 5880. if it can closed above that in 4h than maybe it can make to yesterday's high.. imho.
  • #304,840
  • Mar 23, 2012 4:06am Mar 23, 2012 4:06am
Quoting _BBKing_
i would say ... "of course it will!"
problem is answering the question about "when it will!"
i mean, will it be taken with tis h1 candle or with next one?
ops sorry!
mistake!!!
my bad.....

i'm not looking yesterday's high, my eyes are in 5920 and 5990 lines.

5920 looks pretty sure IMO with this strong bull running. let's see if news in 30 minutes will give last push or will give reasons for a relax.

but overall be careful if looking for shorts, this thing could also go print near 5940-5980. ok, also tank down again into lower 58's but.... mmmm 5885 while writing!
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