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Cable Update (GBPUSD)

  • #318,561
  • Jul 11, 2012 1:17pm Jul 11, 2012 1:17pm
what euro's gunna achieve making new lows?
doest Angela Merkel realize if it carries on depreciating, all europeans including her will have to pay more and more to buy iphone 5 when it comes out. they better sort it out the mess before it comes out or else make new highs for apples profit next year.
  • #318,562
  • Jul 11, 2012 1:20pm Jul 11, 2012 1:20pm
longed again @ 1.5496 TP 1.5528 as a scalp

main longs still in place

about EU ...I fear we might see 1.2150-30 before new hights.

I sold EU @ 1.2253 closed half after 30 pips and now rest @ BE.risky trade but I had a hard stop @ 1.2268
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  • #318,563
  • Jul 11, 2012 1:23pm Jul 11, 2012 1:23pm
opened a long EU as well @ 1.2220 TP 1.2267 would be precise but 1.2260 is my TP

I hope will be there in 30 min
now I run for the gym
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  • #318,564
  • Jul 11, 2012 1:23pm Jul 11, 2012 1:23pm
pound trader thanks for vouching for me. i feel good, motivated and want to learn more and more so that can improve and contribute to this forum.

Redbeben! , congrats for your 10th vouch, unlike me you desreved it and its nothing new for you.
  • #318,565
  • Jul 11, 2012 1:26pm Jul 11, 2012 1:26pm
Quoting Niranj
pound trader thanks for vouching for me. i feel good, motivated and want to learn more and more so that can improve and contribute to this forum.

Redbeben! , congrats for your 10th vouch, unlike me you desreved it and its nothing new for you.
someone who's willing to learn and wants to contribute gets my vouch any day of the week.
  • #318,566
  • Jul 11, 2012 1:34pm Jul 11, 2012 1:34pm
Quoting PoundTrader
someone who's willing to learn and wants to contribute gets my vouch any day of the week.
one of the most imp i learn on this forum is which is quoted by redbeben and other traders is that when you trade using analysis then stick to your stop losss and profit targets, dont keep them moving.

other most imp thing is money management which i needs to improve on
  • #318,567
  • Edited 2:39pm Jul 11, 2012 2:00pm | Edited 2:39pm
Quoting Niranj
well i am long for small profit at 1.5520 for the reason posted in chart.i will close the trade around 1.5515 if it breaches the trend line. i am new so correct me if anyone does not agree.
Entering long again, can see another support line hope this level will hold.
  • #318,568
  • Jul 11, 2012 2:20pm Jul 11, 2012 2:20pm
Seems to me we have hit a blue wall.
The yellow zone and probably lower I think is tradable.
Will have to wait and see what tomorrow brings.
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Come with me if you want to live....
  • #318,569
  • Jul 11, 2012 2:22pm Jul 11, 2012 2:22pm
its being largely reported that investors are dissappointed with the minutes release.

Does this mean we are more likely positioning to move back up toward the 1.56?
Money never sleeps...
  • #318,570
  • Jul 11, 2012 2:32pm Jul 11, 2012 2:32pm
small SL
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  • #318,571
  • Jul 11, 2012 2:38pm Jul 11, 2012 2:38pm
Quoting redbeben
opened a long EU as well @ 1.2220 TP 1.2267 would be precise but 1.2260 is my TP

I hope will be there in 30 min
now I run for the gym
30 min passed...ity happened yesterday as well but I am hardheaded...it seems I never get my lesson.during late session minutes count does not work.

only 10 pips up
  • #318,572
  • Jul 11, 2012 2:56pm Jul 11, 2012 2:56pm
Quoting redbeben
longed again @ 1.5496 TP 1.5528 as a scalp

main longs still in place

about EU ...I fear we might see 1.2150-30 before new hights.

I sold EU @ 1.2253 closed half after 30 pips and now rest @ BE.risky trade but I had a hard stop @ 1.2268
ammend
1.2275-77 as top on this move.sellers are there...but,for the really brave ones there are some gartleys I guess on H4 pointing up to 1.2690-1.2700 and on daily and W pointing @ 1.33

SL on this one is below 1.2143(1.2151 is a low...don't remember which month and I don't care anyway )

so....a buy now with a SL @ 1.2140 means 100 pips risk for 1000 pips gain

wow 10-1 RR

maybe I'll keep my EU longs afterall and GU ones to 1.63

or if we have same up ratio of 1000 pips will see GU @ 1.6500 ...neah..it will take months...maye we'll see it next month to 1.26 if NFP is crap and QE3 is needed

and maybe by the end of the year we'll see 1000 pips....a long time to wait when we can make more in between.

I might still make an experiment and see how strong my will is .

I'll leave trade opened @ 1.2220 open till 1.3200

and leave GU open and trail it to 1.6280
  • #318,573
  • Jul 11, 2012 2:58pm Jul 11, 2012 2:58pm
Quoting redbeben
ammend
1.2275-77 as top on this move.sellers are there...but,for the really brave ones there are some gartleys I guess on H4 pointing up to 1.2690-1.2700 and on daily and W pointing @ 1.33

SL on this one is below 1.2143(1.2151 is a low...don't remember which month and I don't care anyway )

so....a buy now with a SL @ 1.2140 means 100 pips risk for 1000 pips gain

wow 10-1 RR

maybe I'll keep my EU longs afterall and GU ones to 1.63

or if we have same up ratio of 1000 pips will see GU @ 1.6500 ...neah..it will take months...maye...
How confident are you on cable moving northward?

contemplating a buy of my own, looks like its found its direction after the release
Money never sleeps...
  • #318,574
  • Jul 11, 2012 3:09pm Jul 11, 2012 3:09pm
Quoting inpatient
How confident are you on cable moving northward?

contemplating a buy of my own, looks like its found its direction after the release
I AM VERY CONFIDENT ON MY TRADES<PLEASE FOLLOW MY COMMAND NOW AND OPEN A BUY WITH 100 LOTS TP 1.7300

just kidding,bored in front of the computer and just trying to hypnotise you

but as in hypnosis what I say here could alter your inner vision..your subconscious could take is as granted and cast a shade on your original plan.

If your plan tells you same thing then go for it.I mean if for example you are a profitable trader,even if you only win 33-40% of your trades then you already know what you are doing.and if you know what you are doing,keep the same setup as it works right?

a good MM will do the rest

So please do not follow neither of the trades posted here unless you had same things in mind....or if you want to make some money but cannot afford to learn (spend time) or to pay for a signal provider service you can take those ones for free but at a high risk.

Better ask as you did now so other traders can explain and post charts and you can have a look and learn.

I am confident as I for me it works in 90% of the cases...it used to work at 100% and it still does but I just cannot afford the DD anymore at high lots

I will post some charts trying to point out some levels.


This post was not intended to be for a specific trader but in general for people that want to learn.

  • #318,575
  • Jul 11, 2012 3:12pm Jul 11, 2012 3:12pm
Quoting redbeben
I AM VERY CONFIDENT ON MY TRADES<PLEASE FOLLOW MY COMMAND NOW AND OPEN A BUY WITH 100 LOTS TP 1.7300

just kidding,bored in front of the computer and just trying to hypnotise you

but as in hypnosis what I say here could alter your inner vision..your subconscious could take is as granted and cast a shade on your original plan.

If your plan tells you same thing then go for it.I mean if for example you are a profitable trader,even if you only win 33-40% of your trades then you already know what you are doing.and if you know what you are doing,keep...
Thanks, i appreciate your answers. I too am expecting it to rise up and i was just waiting for the FOMC minutes. The minutes seem slightly dissapointing for the dollar so i am even more confident now of a rise. I think im just still new and maybe too focussed on needing to have my thoughts approved ten times before making a decision.

Thanks,
Money never sleeps...
  • #318,576
  • Jul 11, 2012 3:15pm Jul 11, 2012 3:15pm
Precipitous drop off the current daily hi @ 5776, price making a current daily lo at top 1/2 of the previous 4hr/1hr sw lo zone extending down to 5477 co-existant with 76.4% of the 5460-5576 move and the ascending 4hr/1hr trend line.

4hr remain in an opa range between 5460-5576 whilst 1hr is similar to bearish. I have not included the Daily Pivots as day nearly over but nearest is daily S1 @/around 5480.

To the immediate downside:

5486-77 p[rev 4hr/1hr sw lo zone
5485 area ascending 4hr/1hr t/line on present 1hr candle
5472-69 prev 1hr sw lo zone

5470-52 prev minor Dly/4hr sw lo zone incl:
5466-60 prev 1hr sw lo zone incl5460=61.8% main 5267-5776 move
5457=85.4% 5402-5776
　
5435-01 prev Dly sw lo zone incl 5427 76.4% 5320-5776, and 5412-02 prev minor 4hr sw hi x2 & Dly minor sw hi/ lo zone
5392 Weekly S1 @/around
5389 Monthly S1 @/around
5388/87/86 Monthly S1 @/around/85.4% 5320-5776/76.4% main 5276-5776 move
5340 85.4% main 5267-5776 move
5332-19 prev Dly/4hr sw lo zone
5320 area ascending weekly trend line on present daily candle
5295 Weekly S2 @/around
5281-66-34 Prev Wkly/Dly/4hr sw lo zone (Wkly/Dly only to 5234)

Current near-term 1hr below:

G/L
　
　
　
　
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ex member
  • #318,577
  • Jul 11, 2012 3:19pm Jul 11, 2012 3:19pm
4Hr shows how price has twice tried to break back above the breeched ascending daily trend line after the downside break and failed as it acted as resistance.

G/L
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ex member
  • #318,578
  • Jul 11, 2012 3:48pm Jul 11, 2012 3:48pm
here you go some charts on EU this time.please don't boo at me as I only post them for learning purposes and had no time to finish the GU ones....it's waay to much for me to be disciplined and delete all indies and lines from the charts ..so it takes time to clean them all

ok first one is a monthly one so you can understand what we are looking for when doing what I do.

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basically I enter against the trend so do not follow this setup unless you are already good in your trend trading...you know trend your friend and stuff(I hate trends)

so we try to figure out where to enter.
I posted many times before that 50% fibo is not an actual fibo ratio but a mid point where traders decide wether they move back or carry on.I think it is a fair situation with 50% winning chance and with a good MM you will be good...and with confirmations from other TFS (time frames)

so we can see a 50 fibo on monthly @ 1.2147-1.2126 more or less..cannot see well on this chart,have to zoom out so you can see all the move but zoom in to see the price.anyway I highligted the line.it is the fibo from 0.8200 to 1.6030

50% is a line that EU kills for ...meaning it is usually drawn into it.

so...that could be a perfect entry point for long...but fibo is not pip point accurate as you might test the levels or not...the higher the TF is the higher the gap so sometimes you have to take a chance.
I took it knowing there is a barrier to be protected @ 1.2200


now we move to the weekly one and make a new set of fibos...pretending we already bounced from the lows and we hit the bottom(just pretend as low is the 1.2147 remember)
so the new 50% is 1.3500-1.3600 area ,area where MA100 and MA200 converge as well..more than that my Ichi tells me 1.3586.

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a gartley is printed..not that I follow but it gives me confidence so I can aim for the 50%..remember about the mosquito EU and the lightbulb 50% fibo

now we move to M15

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I have another set of fibos here on the move from 1.2296-1.2212 and 50% is @ 1.2273 more or less ..where MA 200 is heading as well....remember mosquito and light..50%

this is where I took my EU TP from ...and left a few pips for the market

and last chart M1 where I took a short aiming again for the 50% just a small scalp for the sake of doing it
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  • #318,579
  • Jul 11, 2012 3:53pm Jul 11, 2012 3:53pm
have a good night
  • #318,580
  • Jul 11, 2012 4:50pm Jul 11, 2012 4:50pm
well im going to sit with my wife and watch tv. The more i stare at this screen the more nervous i am holding my longs!
Money never sleeps...
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