Cable Update (GBPUSD) | Page 15572 | 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)

  • #311,421
  • May 4, 2012 4:52am May 4, 2012 4:52am
Quoting bbmac
I don't think I can predict it at all with any accuracy, I just trade the set-ups that are part of my edge. The question probably relates thougn to whether it is possible to see farther out re time scale ? Again I think it is impossible to predict a market - all you can do is have an edge and play the edge - howsoever it is derived (technically, fundamentally or another type of analysis) None of us can know what is going to happen next and if that is the case - then it must be harder to know what is going to happen farther out ?

G/L
I think u can predict to some extent ..theres definitely a language which can see translated by some..but u need the mindset that is is not predictable so u dont suffer from the loss..

the minute u think u can forecast the market is when market will finish u..through yur own very actions..so its a protective measure to think u cant..
take bguguen as an example..he seemed to think everything in trading is moved in sink with fundamentals..so he trades blindly because he is convienced pound will fall..no protective measure seen in his trading..if u dont protect youself market will screw u..cause anything can happen..

and at the same time:- (paradox) if u dont believe u can forecast the market u will never be able to hold a trade..so i do believe it is about finding a balance and this balance comes from yur mindset adjustment.."in thinking anything can happen"..which is why u say what u say tom
thats what i think anyway
  • #311,422
  • May 4, 2012 4:58am May 4, 2012 4:58am
I am holding shorts still on reverse ,target 1.6090
  • #311,423
  • May 4, 2012 5:00am May 4, 2012 5:00am
Mate, there's a glaring contradiction in your post ! There is no douby=t that some think they can - and prediction is the bnasis of their belief but analysis has no predictive powers it simply provides you with an edge that is all. An edge is just as follows:

A Trading Edge is a repeating circumstance or set of circumstances (ie a set-up or combination of set-ups) that suggest a greater probability of one thing happening over another, based on historical precedent. Additionally and/or alternatively; if the edge does not suggest a greater probability of one thing happening over another, then based on historical precedent, it suggests that more gain is available when it succeeds than when it fails, sufficient to realise a net gain over any given sample.

Look at the following 2 statements - one is an edge one is a prediction

1. I am going long here based on a pre-identified support zone and on the 5min repeating bullish divergence set-up

2. I am going long here because I think the market will go up.

There was a guy in this thread yesterday who quote '...stongly believed...' cable would break thru this support zone - he was short on this belief and he stopped out for a loss....

G/L

Quoting nAVIN2007
I think u can predict to some extent ..theres definitely a language which can see translated by some..but u need the mindset that is is not predictable so u dont suffer from the loss..

the minute u think u can forecast the market is when market will finish u..through yur own very actions..so its a protective measure to think u cant..

thats what i think anyway
ex member
  • #311,424
  • May 4, 2012 5:04am May 4, 2012 5:04am
Quoting bbmac
Mate, there's a glaring contradiction in your post ! There is no douby=t that some think they can - and prediction is the bnasis of their belief but analysis has no predictive powers it simply provides you with an edge that is all. An edge is just as follows:

[i][font=Verdana]A Trading Edge is a repeating circumstance or set of circumstances (ie a set-up or combination of set-ups) that suggest a greater probability of one thing happening over another, based on historical precedent. Additionally and/or alternatively; if the edge does not suggest...
perhaps predict is to strong a word..i hear what yur typing..yur right its all about probability
but there are times that i do actually feel i know where it is going..lol (am confused..lol)
  • #311,425
  • May 4, 2012 5:19am May 4, 2012 5:19am
Price is near support zone at the moment. This is still bullish as long as price does not CLOSE below 1.6145.
Attached Image (click to enlarge)
Click to Enlarge Name: 04-05-2012 11-13-46.jpg Size: 241 KB
  • #311,426
  • May 4, 2012 5:20am May 4, 2012 5:20am
I wount be too shocked if the big boys decide to visit 1.6150 before shooting for the stars cause lots of very juicy sell entries reside there. Its sure going to be a bloodbath!
The only way not to think about money is to have a great deal of it
  • #311,427
  • May 4, 2012 5:26am May 4, 2012 5:26am
somebody end my misery, market better move when NFP comes out http://im-smiley.com/imgs/violent/violent039.gif
  • #311,428
  • May 4, 2012 5:33am May 4, 2012 5:33am
2 way traffic in this 1hr range between ye3sterday's lo and hi...classic bearish hidden div play that then sees a classic regular bullish div play up from the support zone - 5min

The bears might be losing patience ? but continual visits to the support zone will consume the demand so each visit is a greater probability of a downside break - or so that's the theory.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 119 KB
ex member
  • #311,429
  • May 4, 2012 5:42am May 4, 2012 5:42am
Quoting nAVIN2007
u need to exit ..yur gonna blow yur account..its too bullish
Already talked to my advisor, got an exit plan in place already even if it means a bit of loss...
but the exit plan involves a bit of a retracement but god knows where and when im gona get it....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #311,430
  • May 4, 2012 5:44am May 4, 2012 5:44am
Quoting bguguen
Already talked to my advisor, got an exit plan in place already even if it means a bit of loss...
but the exit plan involves a bit of a retracement but god knows where and when im gona get it....
thanks god..cause honestly dont think its coming back down..its too damn bullish..at least u seeking advise

might and probably will react here..if this isnt the top then it aint coming back
Attached Image (click to enlarge)
Click to Enlarge Name: cable11.jpg Size: 84 KB
  • #311,431
  • Edited 6:00am May 4, 2012 5:48am | Edited 6:00am
Quoting nAVIN2007
thanks god..cause honestly dont think its coming back down..its too damn bullish..at least u seeking advise

might and probably will react here
i know it looks very bullish but heres what im seeing... GBPNZD broke above the top of the bollinger band in the weekly... the last time GBPNZD closed above a the top of the bollinger band in weekly chart, gave a Major bear move the next week...
so im hoping this is the case, sending GBPNZD back to 2.0000 and beyond.... not sure if its gona get to 1.9625 but any move down would be nice... and im willing to start over again.... but not with 4000 USD left in the account.... maybe form 7000 usd if possible...
im seriously hoping NFP today would send GBPNZD falling to its knees on GBP weakness...

Put up a bollinger band indicator period 20 int he weekly chart and see its behaviour... you'd understand what i mean...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #311,432
  • May 4, 2012 5:49am May 4, 2012 5:49am
Quoting PoundTrader
somebody end my misery, market better move when NFP comes out http://im-smiley.com/imgs/violent/violent039.gif
ya. seriously i am also pissed off. holding two shorts since yesterday morning. I think it is waiting for this data to rally or fall.
  • #311,433
  • May 4, 2012 5:51am May 4, 2012 5:51am
anyone gonna hold a position (s) on this pairing thru NFP ?
---------------------------------

Breaking here - Will be back for 1/2 hr + round NFP

G/L
ex member
  • #311,434
  • May 4, 2012 5:55am May 4, 2012 5:55am
Quoting bguguen
i know it looks very bullish but heres what im seeing... GBPNZD broke above the top of the bollinger band in the weekly... the last time GBPNZD closed above a the top of the bollinger band in weekly chart, gave a Major bear move the next week...
so im hoping this is the case, sending GBPNZD back to 2.0000 and beyond.... not sure if its gona get to 1.9625 but any move down would be nice... and im willing to start over again.... but not with 4000 USD left in the account.... maybe form 7000 usd if possible...
im seriously hoping NFP today would send...

to me indicator mean nothing bud..absolute sweet FA
the index is bullish and it will take something to stop it

nfp is yur only option..usd has been rising like a mofo all morning..i wish u luck

the good news for u is its up at resistance ..hopefully for u it can reverse here..see the chart i posted
  • #311,435
  • May 4, 2012 5:56am May 4, 2012 5:56am
Quoting bbmac
anyone gonna hold a position (s) on this pairing thru NFP ?
---------------------------------

Breaking here - Will be back for 1/2 hr + round NFP

G/L
I am holding my shorts for NFP. donno think it will zoom today. today's data should put a lid on that fucking QE3 crowd. after every bad data they want QE.

beggars
  • #311,436
  • May 4, 2012 6:00am May 4, 2012 6:00am
dont know about u guys but its looking like a bull flag to meh..tony have a look at this one bud..its a whooper
Attached Image (click to enlarge)
Click to Enlarge Name: cable11.jpg Size: 97 KB
  • #311,437
  • May 4, 2012 6:02am May 4, 2012 6:02am
Quoting nAVIN2007
to me indicator mean nothing bud..absolute sweet FA
the index is bullish and it will take something to stop it

nfp is yur only option..usd has been rising like a mofo all morning..i wish u luck

the good news for u is its up at resistance ..hopefully for u it can reverse here..see the chart i posted
thanks navin, seeing your eagerness to help me out makes me slightly depressed, not because of my trading but more to which how i acted like an ass to you before....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #311,438
  • May 4, 2012 6:03am May 4, 2012 6:03am
Quoting nAVIN2007
dont know about u guys but its looking like a bull flag to meh..tony have a look at this one bud..its a whooper

nav u were talking abt bguyen look at the longs u have on gbp/ud. if today's data comes good u are also gone bcoz then u will not see 1.63 for a long tome to come and I mean long.
  • #311,439
  • May 4, 2012 6:12am May 4, 2012 6:12am
Quoting bguguen
thanks navin, seeing your eagerness to help me out makes me slightly depressed, not because of my trading but more to which how i acted like an ass to you before....

dont worry my man i never take anything personal..u will get out of this so long as that resistance is resistance..read what i wrote about u..and think how can i change things..u will be a great trader dont be dis-heartened

just dont add to yur position by trying to short..how u will deal with this trade will make u or break u..see it as a turning point
  • #311,440
  • May 4, 2012 6:13am May 4, 2012 6:13am
Quoting Nachiket
nav u were talking abt bguyen look at the longs u have on gbp/ud. if today's data comes good u are also gone bcoz then u will not see 1.63 for a long tome to come and I mean long.
I base my trades on long term projections and use mm..

like mr T say "eat meh dust"

just kidding bro!!
1,238 traders viewing now