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Cable Update (GBPUSD)

  • #310,941
  • May 2, 2012 6:09am May 2, 2012 6:09am
Quoting bbmac
I said they won the battle at yesterday's low - not the war ! Lol

G/L
  • #310,942
  • May 2, 2012 6:19am May 2, 2012 6:19am
we meet some supports here ,and US time will gives result .
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #310,943
  • Edited 6:48am May 2, 2012 6:22am | Edited 6:48am
Quoting A-speculator
oh my.. i'm sorry to see that mate. i never expect you to go that aggressive..

dont worry ..i have locked in a loss which im comfortable with..only issue is swap fees..

the problem is its a falling wedge..so i really not sure if 1.60 will hold the f%%$k
  • #310,944
  • May 2, 2012 6:48am May 2, 2012 6:48am
Quoting nAVIN2007
dont worry ..i have locked in a loss which im comfortable with..only issue is swap fees..
dude... how are u?
I don't want a job, i want money!
  • #310,945
  • May 2, 2012 7:06am May 2, 2012 7:06am
Quoting dario1002
dude... how are u?

not to bad bro..just getting ready for work..been in this damn trade far to long..looking for exit method..i have a stop target on short around 1.6030 level hoping for a bounce up..even to get meh out..

hope u good bro...how are u?
  • #310,946
  • May 2, 2012 7:12am May 2, 2012 7:12am
Quoting nAVIN2007
dont worry ..i have locked in a loss which im comfortable with..only issue is swap fees..

the problem is its a falling wedge..so i really not sure if 1.60 will hold the f%%$k
well, personally i don't prefer locking/hedging positions, i'm better off taking small loss rather than locking the positions since it can be a pain in the ass to open the lock.

secondly, look at fibre chart, as you can see, the drop is quite significant and it's not impossible for cable to follow fiber step, maybe we might get breakout on the daily asc trendline this time (the red TL), who knows, right?.. just be very careful on longs for the time being.

the price that will invalidate uptrend imho is 5900 for cable, which can be said as the line in the sand that will flip the bias back towards significant bearish view towards the breakout of 5800..

well, that is my speculation only, price will justified the view.
Attached Image(s) (click to enlarge)
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  • #310,947
  • May 2, 2012 7:16am May 2, 2012 7:16am
Quoting nAVIN2007
not to bad bro..just getting ready for work..been in this damn trade far to long..looking for exit method..i have a stop target on short around 1.6030 level hoping for a bounce up..even to get meh out..

hope u good bro...how are u?

i'm good.... april has been a difficult month

u out of the long?????? really?
I don't want a job, i want money!
  • #310,948
  • May 2, 2012 7:18am May 2, 2012 7:18am
ADP Prints at 119K vs expected 170K
  • #310,949
  • May 2, 2012 7:19am May 2, 2012 7:19am
Hi, I thought it was going to break 1.6285 , some other members on here - say it will breach 1.6320.

I was being careful, because of the probability of it hitting above 1.6450, - it was going like a train, and i didnt want to blow my account.
I kissed goodbye to $2k on this mf already, - shorting too soon.

Is it really going to short now? in your opinion; -
(1 week ago i though - wait - until 1.6300 to 1.645 - then short at x100 .)

Thanks for replies guys,
(and your previous honest remarks)
  • #310,950
  • May 2, 2012 7:37am May 2, 2012 7:37am
Quoting Vikingbarde
Hi, I thought it was going to break 1.6285 , some other members on here - say it will breach 1.6320.

I was being careful, because of the probability of it hitting above 1.6450, - it was going like a train, and i didnt want to blow my account.
I kissed goodbye to $2k on this mf already, - shorting too soon.

Is it really going to short now? in your opinion; -
(1 week ago i though - wait - until 1.6300 to 1.645 - then short at x100 .)

Thanks for replies guys,
(and your previous honest remarks)
you are asking others opinion on your trade decision rather than posting your analysis so others can help you improve..

i'm sorry mate, i think you're not ready yet.. try to develop your own system and understanding of the market.. for the time being just trade on demo until you can get at least 3 months closed on profit - the reason is so that you can improve your trading skills and later on you can work out on the emotional side.

this is not an easy journey my friend. that is just a friendly reminder.
  • #310,951
  • May 2, 2012 7:41am May 2, 2012 7:41am
Hi, I thought it was going to break 1.6285 , some other members on here - say it will breach 1.6320.

I was being careful, because of the probability of it hitting above 1.6450, - it was going like a train, and i didnt want to blow my account.
I kissed goodbye to $2k on this mf already, - shorting too soon.

Is it really going to short now? in your opinion; -
(1 week ago i though - wait - until 1.6300 to 1.645 - then short at x100 .)

Thanks for replies guys,
(and your previous honest remarks)
VB
  • #310,952
  • May 2, 2012 7:47am May 2, 2012 7:47am
Quoting A-speculator
you are asking others opinion on your trade decision rather than posting your analysis so others can help you improve..

i'm sorry mate, i think you're not ready yet.. try to develop your own system and understanding of the market.. for the time being just trade on demo until you can get at least 3 months closed on profit - the reason is so that you can improve your trading skills and later on you can work out on the emotional side.

this is not an easy journey my friend. that is just a friendly reminder.
I'm not sure he heard you.
Come with me if you want to live....
  • #310,953
  • May 2, 2012 7:49am May 2, 2012 7:49am
Quoting Ill-b-back
I'm not sure he heard you.
it's ok mate..
  • #310,954
  • May 2, 2012 7:56am May 2, 2012 7:56am
well, since it's nothing to do atm, rather than just to wait for any kind of reversal to add to my positions, i think i'm gonna continue with my research.

i wish everybody here success.

later guys.
  • #310,955
  • May 2, 2012 7:57am May 2, 2012 7:57am
Yes Yes

Quoting Bones
down
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #310,956
  • May 2, 2012 8:01am May 2, 2012 8:01am
Hi thanks for the reply.
True, I can't create charts like these other guys yet.
I haven't mastered Fibonacci, - calculating next location etc.
Am currently using / testing GMACD, Ultra Trend,
seperately -TrendLord with sweetspots and superprofit, - programs i got on this Forum, - althought didnt come with any info.

I found with gmacd - main trend m15 - m4 say down, - in few minutes it can change to opposite, - perhaps im using wrong timeframe?

i'm testing a robot "forex cash magnet robot" - just 2 days so far - tiny profit so far.
I have to test "forex autopilot robot" - i got a free copy - it won't seem to load with the other robot running at the same time on same chart - so will test next week.

I have an add on - its for US Non Farm Payroll "Robot" - it auto creates 5 trades each way 5 minutes before weekly "payroll" report, with stop loss set to 5-10 pips, - so whichever way it goes !
Question - do you know any broker where you can preset stop loss to this low? - i'm with etoro - and minimum stop loss is 26 or 28 pips.
Want to try it?

Thanks
VB
  • #310,957
  • May 2, 2012 8:01am May 2, 2012 8:01am
Definitley not always right Nav as you know


Quoting nAVIN2007
i like being on the same page as u
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #310,958
  • May 2, 2012 8:05am May 2, 2012 8:05am
I wrote the post and clicked send, forexfactory said, - can't access the system, as server is too busy; ( or similar) .. so i got my post back and pressed "send again"
didnt realise it had posted sucessfully.
sorry..
  • #310,959
  • May 2, 2012 8:10am May 2, 2012 8:10am
Quoting Vikingbarde
Hi thanks for the reply.
True, I can't create charts like these other guys yet.
I haven't mastered Fibonacci, - calculating next location etc.
Am currently using / testing GMACD, Ultra Trend,
seperately -TrendLord with sweetspots and superprofit, - programs i got on this Forum, - althought didnt come with any info.

I found with gmacd - main trend m15 - m4 say down, - in few minutes it can change to opposite, - perhaps im using wrong timeframe?

i'm testing a robot "forex cash magnet robot" - just 2 days so far - tiny profit so far.
I have...
from your answer, i really think you're not ready trading live.

the reason is:

1) Indicator is just an instrument which suppose to help you in your decision making and it should not be your decision making tools meaning that you have to study price action/candlesticks/bar chart to master the market.

2) quit using robots/EA since if they can make money with it, why they sell it to you and if you think the programs are far superior than us (human) why wall street still need us to trade? think about it.

3) there's several legitimate broker out there that allow you to do just that. mbtrading is one of them but the leverage is low. the uk devision offers 1:100 only and that broker does not have deal desk.

hope that answers your questions.
  • #310,960
  • May 2, 2012 8:11am May 2, 2012 8:11am
realise i hadnt fully answered the post.
I check online sites for technical analysis, and compare; daily, monthly, etc.
I use
DukasCopy daily and tech analysis
ForexPros
dailyfx.com
forexcycle.com

I'm quite interested in Dukascopy tech analysis - 1-3 months forcast.

Is possible you an recommend any better?
thanks
VB
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