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Cable Update (GBPUSD)

  • #309,241
  • Apr 21, 2012 3:53am Apr 21, 2012 3:53am
Quoting Tsar
Congrat for your Analyze

As you knew, I'm not LONG term Trader, Bro.
Only SCALPer & sometimes SHORT Term with my Little Capital, to make Green Pips. Btw... I really enjoyed

still not there bro, yet..but its looking promising..thank u
we learn from each other everyday..have a great weekend bro!
  • #309,242
  • Apr 21, 2012 3:58am Apr 21, 2012 3:58am
Quoting nAVIN2007
still not there bro, yet..but its looking promising..thank u
we learn from each other everyday..have a great weekend bro!
Yup... will be there later, require the process time, Bro.

Happy Great Weekend too
Always looking the GREAT, never left GOOD Point...
  • #309,243
  • Apr 21, 2012 4:13am Apr 21, 2012 4:13am
IMF picks Australia as the top performing economy in the developed world over the next 2 years , oh man, makes us proud. Reality though? who knows..., probably full of it.
Come with me if you want to live....
  • #309,244
  • Apr 21, 2012 4:37am Apr 21, 2012 4:37am
Quoting Ill-b-back
IMF picks Australia as the top performing economy in the developed world over the next 2 years , oh man, makes us proud. Reality though? who knows..., probably full of it.

what positions do u have my man?
u trading well..where faller i hope he didnt over position size, he was very bearish to the point - perhaps wanting to convince himself

hope he is good..in bbq
  • #309,245
  • Apr 21, 2012 4:51am Apr 21, 2012 4:51am
waiting
Attached Image (click to enlarge)
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not euphoria follower
  • #309,246
  • Apr 21, 2012 5:03am Apr 21, 2012 5:03am
Quoting nAVIN2007
what positions do u have my man?
u trading well..where faller i hope he didnt over position size, he was very bearish to the point - perhaps wanting to convince himself

hope he is good..in bbq
I'm sure Faller is ok, he is very careful trader, uses PA and momentum well so I doubt he is in hot water. I'm hedged from around 59 area and waiting for a reversal signal. To be honest man trading for me has been tough this month, but in front and waiting to offload the hedge. Just being patient dude. You used 16 or 4 month chart for your analysis last year??
Come with me if you want to live....
  • #309,247
  • Edited 5:16am Apr 21, 2012 5:05am | Edited 5:16am
Quoting Ill-b-back
I'm sure Faller is ok, he is very careful trader, uses PA and momentum well so I doubt he is in hot water. I'm hedged from around 59 area and waiting for a reversal signal. To be honest man trading for me has been tough this month, but in front and waiting to offload the hedge. Just being patient dude. You used 16 or 4 month chart for your analysis last year??

i used all of them..but 16 month chart is what made me think bulls have a chance..it was the chart i was able to read and make a decision with any weight, ofcourse to trade such a time, u need to be pretty sure

all else were a mess to understand to be honest, why u ask?

this quarter we likely to see 1.65 imho
  • #309,248
  • Apr 21, 2012 5:19am Apr 21, 2012 5:19am
hopefully...
http://www.forexfactory.com/attachme...6&d=1334205407
Quoting nAVIN2007
i used all of them..but 16 month chart is what made me think bulls have a chance..it was the chart i was able to read and make a decision with any weight, ofcourse to trade such a time, u need to be pretty sure

all else were a mess to understand to be honest, why u ask?

this quarter we likely to see 1.65 imho
not euphoria follower
  • #309,249
  • Apr 21, 2012 5:21am Apr 21, 2012 5:21am
Quoting nAVIN2007
i used all of them..but 16 month chart is what made me think bulls have a chance..it was the chart i was able to read and make a decision with any weight, ofcourse to trade such a time, u need to be pretty sure

all else were a mess to understand to be honest, why u ask?

this quarter we likely to see 1.65 imho
I had just never heard of a 16 month chart before, that's 1 1/3 years man, that is serious TF, you had to expect drawdown surely? What broker do you use? I can only go upto monthly, would love to see other timeframes also to help with analysi when as you say, all else is a mess. Cheers bro, you are very good at tech analysis, I like seeing your precision when posting, makes a cluster fcuk make sense, not easy to do
Come with me if you want to live....
  • #309,250
  • Apr 21, 2012 5:27am Apr 21, 2012 5:27am
Quoting nAVIN2007
chart
Thanks nav thats good news for me... if it tests support at that 1.95650 as you pointed out.... i should get out of GBPNZD fine possibly even with some profit since the target the bot has is 1.9627 which is roughly 80 pips down from here...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #309,251
  • Apr 21, 2012 5:28am Apr 21, 2012 5:28am
Quoting Ill-b-back
I had just never heard of a 16 month chart before, that's 1 1/3 years man, that is serious TF, you had to expect drawdown surely? What broker do you use? I can only go upto monthly, would love to see other timeframes also to help with analysi when as you say, all else is a mess. Cheers bro, you are very good at tech analysis, I like seeing your precision when posting, makes a cluster fcuk make sense, not easy to do

u have to use period converters to get bigger time frames or sign up too:-
http://www.prorealtime.com/en/

main thing is trusting your analysis..that can only come from positive results- like i said im interesting in developing myself all round..patience was the thing that i needed to develop..well hopefully this has stretched that ..i honestly have no idea how long i have been in the trade but i can say im more patient now

hopefully as a day trader i can knock a few sixes
Quoting bguguen
Thanks nav thats good news for me... if it tests support at that 1.95650 as you pointed out.... i should get out of GBPNZD fine possibly even with some profit since the target the bot has is 1.9627 which is roughly 80 pips down from here...
always welcome bud
  • #309,252
  • Apr 21, 2012 5:32am Apr 21, 2012 5:32am
Quoting iqyu5an
hopefully...
http://www.forexfactory.com/attachme...6&d=1334205407

yes we are on same page
  • #309,253
  • Apr 21, 2012 5:35am Apr 21, 2012 5:35am
Quoting nAVIN2007
u have to use period converters to get bigger time frames or sign up too:-
http://www.prorealtime.com/en/

main thing is trusting your analysis..that can only come from positive results- like i said im interesting in developing myself all round..patience was the thing that i needed to develop..well hopefully this has stretched that ..i honestly have no idea how long i have been in the trade but i can say im more patient now

hopefully as a day trader i can knock a few sixes


always welcome bud
BTW congrats to your analysis 1.65 on GBPUSD looks possible now...though watch out i got 2 resisting downwards trendline... one drawn on the weekly chart from the high of 2011 24/04 Resistance area 1.63
and well 1.65 being the last resistance for obvious reasons... i suppose you got the same trendline as i do on that one....
Also another thing to watch out... i realized this weeks been pretty heavy on the GBPUSD buy side without much of a retracement which got me suspecting that its big boys manipulating with a low liquidity since i realized its just the first week back from easter holidays, some hedgefunds might be away from the currency market because this week was not a normal PA.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #309,254
  • Apr 21, 2012 5:38am Apr 21, 2012 5:38am
Quoting nAVIN2007
u have to use period converters to get bigger time frames or sign up too:-
http://www.prorealtime.com/en/

main thing is trusting your analysis..that can only come from positive results- like i said im interesting in developing myself all round..patience was the thing that i needed to develop..well hopefully this has stretched that ..i honestly have no idea how long i have been in the trade but i can say im more patient now

hopefully as a day trader i can knock a few sixes


always welcome bud
Doesn't your platform tell you the trade entry date?
Come with me if you want to live....
  • #309,255
  • Apr 21, 2012 6:08am Apr 21, 2012 6:08am
Quoting nAVIN2007
yes we are on same page
Are you telling me you saw this confluence happening last year sometime when you entered your trade bro??? or am i off with the pixies??
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade54gif.gif Size: 12 KB
Come with me if you want to live....
  • #309,256
  • Apr 21, 2012 6:14am Apr 21, 2012 6:14am
Early night.
Adios zz
Come with me if you want to live....
  • #309,257
  • Apr 21, 2012 6:40am Apr 21, 2012 6:40am
hello
im just want to ask u about gbpusd
im short from 1.6065
its now 1.6130
did u advice me to hedge ?
or maybe its back to me ?
any way thx sir [/quote]

a question i received in private message. unfortunally it seems i cannot reply message - i dont know why, but i cant send message
so hope the pal to see my answer here. if my advice is wrong please correct me.


Hi pal, why dont you ask in the forum? Its ok for me, no problem, but more opinions are better than one...

Anyway at this pair i am short at 1,6145. there are good reasons to be short at this level (trendline, 4h rsi over 75. So no I wouldn't hedge at that level which is price now (~16130). I would add another short position around 16040/50 in the asian sension and because this pair is very bullish i would say exit point is 16070 (02 april high)
But it may retrace also to 16020, is not out of game that option.

but its all about leverage. if you are overleverage you dont have the control of your trade and you might dont handle to wait and so to quit this pair earlier, so to be safe, maybe 161 or even higher
to make it clear to you how your leverage is important for your strategy i tell you because i am not overleverage i dont have stop loss on that pair.

anyway be calm, keep in mind that pair is overbought close to resistance but with bullish trend so best option is to scalp it to add a position you can handle to risk, and get out safe at 161 or 16070 or 16020 if you have the guts to go so far. over 16180 you might close you positions even i think thats extreme level to move (without any retracement)

Goodluck pal, carefull with your leverage.
There shall be no QE3
  • #309,258
  • Apr 21, 2012 6:48am Apr 21, 2012 6:48am
If I was short (I'm not - I ended the week flat) I would have my stop above 6165 and probably above that 61.8% fib just above @ 6167 as detailed below.

True to say it was all looking a bit 'overbought' at the Hi - whatever that actually means !?

Potential resistance factors above closing price: (incl Monday's daily and new Weekly Pivots.)

6136-65 prev Wkly/Daily sw hi zone incl 6148 = Friday Hi, and 6164= 76.4% 6454-5234 and Monthly R1 @/around
6167 61.8% 6746-5234 and Daily R1 @/around
6213 Daily R2 @/around
6240-79 prev minor Daily sw lo zone (non immed) incl 6241 = Weekly R1 @/around, and 6275= 85.4% 6454-5234
6289 76.4% 6617-5234
6316 Monthly R2 @/around
6324 Daily R3 @/around
6335-40 Weekly descending trend line on present Daily candle (Monday)
6360 Weekly R2 @/around
6388 76.4% 6746-5234
6415 85.4% 6617-5234
6420-53 prev Daily sw hi zone incl 6435=Daily R4 @/around
6524 85.4% 6746-5234
6550-73 prev Daily sw hi zone
6560-70 Weekly descending trend line on present Daily candle (Monday)
6580-6617 prev Weekly/Daily sw hi zone incl 6597 = Monthly R3 @/around
ex member
  • #309,259
  • Edited 7:36am Apr 21, 2012 7:25am | Edited 7:36am
Quoting Ill-b-back
Are you telling me you saw this confluence happening last year sometime when you entered your trade bro??? or am i off with the pixies??

i trade using many indicator to forecast price..ofcourse i didnt (u off with the pixies 10k %)..i just have my limit setup on a 16 month time frame..this way if im wrong..im completely wrong..u have to find your own way to analyse and feel comfortable

after a while, like i have said to u b4 u will realise why indicators are usefull and why it works, in term of market forecasting..then u will realise u dont need them cause they tell something without understanding..but needed for confirmation signals if that makes any sense..lol

Understand why they work is key

anyways it doesnt matter..what does is price going there or not everything else is a waste of time and i want to see meh target
trading is about making a decision and having the nuts to face up to the responsibility of taking such an action..plan and simple
  • #309,260
  • Apr 21, 2012 9:51am Apr 21, 2012 9:51am
i dont think it will go over 16180, but if it goes g/u might be in very strong momentum and it might go higher and then do any retracement. so it is up to you to choose to close positions at that level.
but at my point of view it wont go 90% before make a retracement at least to 161 that you can close your positions with small losses and then forget and look your next moves.

keep in mind that this pair has broken hard a strong resistance and is bullish, so shorters must be careful.

hedging is not a strategy it works good for me, so i dont advice it as you asked me.
There shall be no QE3
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