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Cable Update (GBPUSD)

  • #322,881
  • Aug 28, 2012 8:03am Aug 28, 2012 8:03am
Quoting inpatient
i see this testing the 1.59 high of last week over the next few days, i am long, then i am short when the hopes of QE3 are dampened on Friday
Hoping for a dip (on this hourly candle) to 5813-5817 to long again with target of 5850, although it may be a bit late in the day for another big move upwards
  • #322,882
  • Aug 28, 2012 8:08am Aug 28, 2012 8:08am
theres 2 possibilities

1) weekly is in a bear flag which has broken to topside false breakout, but i dont think this is possible..that it would fall this low

or the bottom is formed and the some bitch is going up..

one or the other
  • #322,883
  • Aug 28, 2012 8:10am Aug 28, 2012 8:10am
classic 'congestion 2nd b/o' play at the pullback lo - on the daily, ie 1st b/o is false - pulls back and re-tests b/o zone and gives a hi-probability long opp. How true is the 2nd b/o ?

G/L
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ex member
  • #322,884
  • Aug 28, 2012 8:41am Aug 28, 2012 8:41am
Quoting mloistianto
agree with albchr.. closing long reverse to short.
I hope not based on me. I've been holding this short for almost 6 hours now...LOL

The only good thing I can say about it as of now is....the Indexes "may" be starting to turn in our favor.
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Ghost Rider - WWTBMD?
  • #322,885
  • Aug 28, 2012 9:03am Aug 28, 2012 9:03am
Quoting bbmac
classic 'congestion 2nd b/o' play at the pullback lo - on the daily, ie 1st b/o is false - pulls back and re-tests b/o zone and gives a hi-probability long opp. How true is the 2nd b/o ?

G/L
yes this is exactly what im seeing..weekly triangle breakout and retest!! ..nice chart tom
  • #322,886
  • Aug 28, 2012 9:04am Aug 28, 2012 9:04am
Quoting nAVIN2007
dont need stick - need eyes, we going up
He he I know bro.
Just thought maybe useful to have a tool that can show us something we can't see.

But I see we going up.

But it's still fubar in my book, don't see a move like this much that's all, it looks kind weird on the daily and even 4 hr a bit.

Just odd, but that's what fake money (even rumour does eh?)

Probably looks perfectly normal on the 16 month chart though, just a blip, if that.

Back to sleep now, all the best mate
Come with me if you want to live....
  • #322,887
  • Aug 28, 2012 9:09am Aug 28, 2012 9:09am
Fear.. the biggest obstacle I have yet to overcome. Fear to lose my hard earned profits generated earlier that day... Yes, I closed the damm trades atfer they were 1 pip into profit lol. Follow the damm rules next time. Sounds so simple.

http://i49.tinypic.com/23m33up.jpg
  • #322,888
  • Aug 28, 2012 9:16am Aug 28, 2012 9:16am
Quoting Robertk
Fear.. the biggest obstacle I have yet to overcome. Fear to lose my hard earned profits generated earlier that day... Yes, I closed the damm trades atfer they were 1 pip into profit lol. Follow the damm rules next time. Sounds so simple.

http://i49.tinypic.com/23m33up.jpg
yes it does..but actually it incredibly tough to do..u simply have to find a way not to have fear..otherwise its impossible i think
  • #322,889
  • Aug 28, 2012 9:21am Aug 28, 2012 9:21am
Quoting nAVIN2007
yes it does..but actually it incredibly tough to do..u simply have to find a way not to have fear..otherwise its impossible i think
A way to avoid fear is when you KNOW you that your system is generating small consistent profits over time. I think this will trigger me to have more confidence which results in letting winners run.

Its that first step that is so damm hard to overcome. Sorry for being a bit offtopic here by the way.
  • #322,890
  • Aug 28, 2012 9:36am Aug 28, 2012 9:36am
Quoting Robertk
A way to avoid fear is when you KNOW you that your system is generating small consistent profits over time. I think this will trigger me to have more confidence which results in letting winners run.

Its that first step that is so damm hard to overcome. Sorry for being a bit offtopic here by the way.
For your pondering :

"Being a successful trader also takes courage; the courage to try, the courage to fail, the courage to succeed, and the courage to keep going when the going gets tough" - Michael Marcus

"Win or lose, everybody gets what they want out of the markets. Some people seem to like to lose, so they win by losing." - Ed Seykota

"We have to be willing to face the truth about ourselves so we can confront the truth outside ourselves." - Marc Douglas

"A consistent man believes in destiny, a capricious man in chance." - Disraeli

"Our doubts are our traitors, And make us lose the good we oft might win by fearing to attempt" - Shakespeare
  • #322,891
  • Aug 28, 2012 9:37am Aug 28, 2012 9:37am
Quoting Robertk
A way to avoid fear is when you KNOW you that your system is generating small consistent profits over time. I think this will trigger me to have more confidence which results in letting winners run.

Its that first step that is so damm hard to overcome. Sorry for being a bit offtopic here by the way.

yes u are right..u have to believe..if u believe then u stay positive and fear cant affect u..and this can only come from a positive equity curve


but the trick is to not care so much, eliminate emotion means no barriers..this is the optimum place to be in whilst trading..
  • #322,892
  • Aug 28, 2012 9:51am Aug 28, 2012 9:51am
Cheers for the advice and wise quotes. I'll get there eventually. No other option. I simply will not allow it.
  • #322,893
  • Aug 28, 2012 10:26am Aug 28, 2012 10:26am
is it me or has the market seriously become very slow moving?
  • #322,894
  • Aug 28, 2012 10:31am Aug 28, 2012 10:31am
Quoting fxghost
Could be. Everybody is on board in eur/usd though.
They are getting on. Now previous high of 1.5911 has to be taken out.
  • #322,895
  • Aug 28, 2012 10:39am Aug 28, 2012 10:39am
sell now ?

1.5800-5795 and below ?
  • #322,896
  • Aug 28, 2012 11:18am Aug 28, 2012 11:18am
Yeah this slow market is tough, gives you more time to worry about your trades (like now with my longs) its great when the momentum is carrying you along but now? Have to step away from the screen for a while.

Still holding longs looking for 1.585 at least
Money never sleeps...
  • #322,897
  • Aug 28, 2012 11:20am Aug 28, 2012 11:20am
suppose the reason for my concern is i think the lack of QE3 this friday will see maybe 100 pips south. Todays data has given more optimism for it happening but in reality it will take more to make the fed act.
Money never sleeps...
  • #322,898
  • Aug 28, 2012 11:40am Aug 28, 2012 11:40am
Quoting inpatient
Yeah this slow market is tough, gives you more time to worry about your trades (like now with my longs) its great when the momentum is carrying you along but now? Have to step away from the screen for a while.

Still holding longs looking for 1.585 at least
bro u keep this up..u going to have to change yur nick to patient
  • #322,899
  • Aug 28, 2012 12:50pm Aug 28, 2012 12:50pm
Forgot to set a trailing on this position. TP got missed by 0.1 pip... Ouch!

http://i49.tinypic.com/hv1ixk.jpg
  • #322,900
  • Aug 28, 2012 1:35pm Aug 28, 2012 1:35pm
1.5790 area
Please do not vouch for me.
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