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Cable Update (GBPUSD)

  • #316,501
  • Jun 15, 2012 8:48am Jun 15, 2012 8:48am
Good day to you,

Have been reflecting quickly. Some people may say that I change my mind more than a female ( no disrespect)

BUT - I am again changing my mind... I guess this is what the market does to one in the current conditions... I just had a look at the weekly.

I posted to Bones a while ago that I believe it to be 55% bullish and 45% bearish. I think it is STRONG BULLS.

OK - so whilst typing - this thing took off. What I meant to say - was that I think there is a stong sign for bulls for the coming weeks.

You will not believe me - I entered long @ 1.5578 before starting this post.

Anyway - will post a chart ( i know) with my reasoning once I have gathered enough courage that the people here will not laugh at my christmas tree chart. Redbeben - you can now vouch for me and take it back immediately. I did the same.

Regards
  • #316,502
  • Jun 15, 2012 8:53am Jun 15, 2012 8:53am
waiting and still flat ...

friday, greece etc etc grrrrrrrrrrrrrrrrrghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Quoting iqyu5an
http://www.forexfactory.com/attachme...1&d=1339688839
Attached Image (click to enlarge)
Click to Enlarge Name: pvj490.gif Size: 17 KB
not euphoria follower
  • #316,503
  • Jun 15, 2012 8:54am Jun 15, 2012 8:54am
Quoting PoundTrader
i went long at 1.5542, s/l 1.5500, t/p 1.5620
to bad my s/l got taken out before my t/p got hit, i hate when that happen.
  • #316,504
  • Jun 15, 2012 8:56am Jun 15, 2012 8:56am
Quoting Makavelli7
Its now clearer that cable has no plans of breaching 1.5600 today so im moving my limit order from 1.5700 to 1.5800.
Oh no! damn cable had to come and crash the party today was hoping the Mo..fo.. would leave the 1.5600 level alone today for a 1.5800 target on monday. Changing limits back to 1.5700
The only way not to think about money is to have a great deal of it
  • #316,505
  • Jun 15, 2012 8:58am Jun 15, 2012 8:58am
Quoting PoundTrader
to bad my s/l got taken out before my t/p got hit, i hate when that happen.
know how you feel... :-D
  • #316,506
  • Jun 15, 2012 9:06am Jun 15, 2012 9:06am
entering bottom area of PRZ
Quoting iqyu5an
waiting and still flat ...

friday, greece etc etc grrrrrrrrrrrrrrrrrghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
not euphoria follower
  • #316,507
  • Jun 15, 2012 9:09am Jun 15, 2012 9:09am
by my own risk
Quoting iqyu5an
entering bottom area of PRZ
Attached Image (click to enlarge)
Click to Enlarge Name: pvj491.gif Size: 15 KB
not euphoria follower
  • #316,508
  • Jun 15, 2012 9:14am Jun 15, 2012 9:14am
Good day to you,

Ok - herewith my chart...

You will see that potential uptrend is marked at number 1. This in itself is not a decision maker. More a "tendency". It only carries 10% weight with me.

The areas marked number 2 is more significant. It gives me the USD strength vs a basket of currencies. It measures the following pairs:

USDCHF
USDJPY
USDCAD
AUDUSD
EURUSD
GBPUSD
NZDUSD

Through this, it attemps to indicate weakness areas in the underlying trend. But again, subjective.

Couple this with the old true and trusted CCI. You get the number 3's. The CCI is combined with the T3 moving average to smooth it out a bit.

Entering on the weekly I do not believe to come without drawdown.

So - may go into the red often and for a lot.

But I am going to trade the current setup and will add where fit.

I may be on the sideline for a while. It will be interesting to follow...

all the best
Attached Image (click to enlarge)
Click to Enlarge Name: weekly assumpion.jpg Size: 168 KB
  • #316,509
  • Jun 15, 2012 9:17am Jun 15, 2012 9:17am
Quoting tinkerbelle
know how you feel... :-D
don't happen a lot thats why i never look at where i should of set my s/l, most time im right so shit just happens
  • #316,510
  • Jun 15, 2012 9:17am Jun 15, 2012 9:17am
Quoting iqyu5an
by my own risk
did you think about the 38.2% fib @ 1.56622? Maybe it would be a safer position to short
this crazy gbp could go higher to that level
  • #316,511
  • Jun 15, 2012 9:19am Jun 15, 2012 9:19am
PRZ = potential reverse "zone" .... never know the exact level in that zone buddy ...
and i wrote earlier .... bottom area ... she could go to mid and top area of PRZ also ...imho


Quoting iqyu5an
entering bottom area of PRZ
Quoting mka_78
did you think about the 38.2% fib @ 1.56622? Maybe it would be a safer position to short
this crazy gbp could go higher to that level
not euphoria follower
  • #316,512
  • Jun 15, 2012 9:23am Jun 15, 2012 9:23am
this move is a total insanity!!

from 1 side i'm very happy that i was not in charts during the fact.
on the other side i'm very angry, because price touched exactly 5640 that was my target in all longs i had during this week.

cruel market.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_15 Mins_snapshot.jpg Size: 62 KB
90% of traders use TA, indicators and prediction
  • #316,513
  • Jun 15, 2012 9:25am Jun 15, 2012 9:25am
let me moon the market, here take that
  • #316,514
  • Jun 15, 2012 9:25am Jun 15, 2012 9:25am
scalp the trend dude ... hit , run and fun

Quoting _BBKing_
this move is a total insanity!!

from 1 side i'm very happy that i was not in charts during the fact.
on the other side i'm very angry, because price touched exactly 5640 that was my target in all longs i had during this week.

cruel market.
not euphoria follower
  • #316,515
  • Jun 15, 2012 9:29am Jun 15, 2012 9:29am
Quoting TauTrader
Good day to you,

Have been reflecting quickly. Some people may say that I change my mind more than a female ( no disrespect)

BUT - I am again changing my mind... I guess this is what the market does to one in the current conditions... I just had a look at the weekly.

I posted to Bones a while ago that I believe it to be 55% bullish and 45% bearish. I think it is STRONG BULLS.

OK - so whilst typing - this thing took off. What I meant to say - was that I think there is a stong sign for bulls for the coming weeks.

You will not believe...
Hi there,

No probs,if I vouch for somebody I don't take it back.If I have one opinion about one person I don't change it...so if I vouch I vouch as I see something that is wright

I really don't care about the vouches,I have no such ego,I only come here when I have time to check if I am the only person seeing the things different....and I am not I found at least 4-5 traders that see the same things,including you...so that's enough for me.

Have a nice weekend.

p.s. changing your mind is good,market cannot predict you so sharks cannot chase your trades
  • #316,516
  • Jun 15, 2012 9:34am Jun 15, 2012 9:34am
Quoting TauTrader
Good day to you,

Ok - herewith my chart...

You will see that potential uptrend is marked at number 1. This in itself is not a decision maker. More a "tendency". It only carries 10% weight with me.

The areas marked number 2 is more significant. It gives me the USD strength vs a basket of currencies. It measures the following pairs:

USDCHF
USDJPY
USDCAD
AUDUSD
EURUSD
GBPUSD
NZDUSD

Through this, it attemps to indicate weakness areas in the underlying trend. But again, subjective.

Couple this with the old true and trusted CCI. You get...
interesting!
if that correlation indicator will be proven again right, this thing is going up a lot.
good luck with your trade.
i call me out till greece is done.
90% of traders use TA, indicators and prediction
  • #316,517
  • Jun 15, 2012 9:36am Jun 15, 2012 9:36am
Quoting iqyu5an
scalp the trend dude ... hit , run and fun
yes true but price is way too much nervous, i'm unable to hold a trade in these conditions. last 2-3 days is like trading during NFP.
ok, i can afford 1 NFP per month. but this is enough for my nerves

today for what i see in charts, we had 3-4 KILLER V TURN in price!
i also closed a demo long which had SL 5460 TGT 5660. LOL
90% of traders use TA, indicators and prediction
  • #316,518
  • Jun 15, 2012 9:38am Jun 15, 2012 9:38am
Quoting redbeben
Hi there,

No probs,if I vouch for somebody I don't take it back.If I have one opinion about one person I don't change it...so if I vouch I vouch as I see something that is wright

I really don't care about the vouches,I have no such ego,I only come here when I have time to check if I am the only person seeing the things different....and I am not I found at least 4-5 traders that see the same things,including you...so that's enough for me.

Have a nice weekend.

p.s. changing your mind is good,market cannot predict you so sharks cannot...
good day to you, Sir

you have shown me someting. I leant a lesson today.

For that, I thank you.

Highest regards
  • #316,519
  • Edited 10:02am Jun 15, 2012 9:43am | Edited 10:02am
Quoting bbakker
Nah... just tired of the same old bullshit on FF. I have a look every so often and to no surprise it hasn't changed a bit.

Shorts target is ~1.53 based on the weekly chart. This is an area I am looking to buy for a swing trade... not earlier.

Best wishes with your trading and over and out for another few months... lol
~1.58 is the place where I will be selling again based on the daily chart and 50% fib retrace from the weekly swing high to the swing low at 1.5267 + daily 200 ema is here. DIX will be ~81 when we get here, a place to buy $ again.

Best to close all positions before market close unless they are 100's of pips away in profit.

Good luck and bye.
  • #316,520
  • Jun 15, 2012 9:54am Jun 15, 2012 9:54am
Quoting _BBKing_
interesting!
if that correlation indicator will be proven again right, this thing is going up a lot.
good luck with your trade.
i call me out till greece is done.
Good day to you,

yip -

I can only trade the bed I have made...

This setup has served me well over the past month or so. Still needs a manual finger to pull the trigger - but so far it seems ok.

I know half a month is nothing to prove a system's worth - but it is encouraging - none-the-less.

Let us follow and see if this trade works out by August / September ( Where is my friend NAV - give him a run for his money)

I attach the winning ratio. Just over 80% so far. 99 trades. Good equity curve. Drawdown less than 5% - I think OK?

All the best.

Regards
Attached Image (click to enlarge)
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