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Cable Update (GBPUSD)

  • #328,301
  • Oct 25, 2012 9:36am Oct 25, 2012 9:36am
i say up

EU also divergence. possible break
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  • #328,302
  • Oct 25, 2012 9:40am Oct 25, 2012 9:40am
Quoting walkman
i say up

EU also divergence. possible break
You should have bought at the bottom of this small range, you have had plenty of time to do it
  • #328,303
  • Oct 25, 2012 9:42am Oct 25, 2012 9:42am
Quoting bbakker
Look at the other GBP pairs fly!
Ewww so its the crosses fucking around...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,304
  • Oct 25, 2012 9:47am Oct 25, 2012 9:47am
Looks to me a pretty STRONG and VALID resistance to me...
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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,305
  • Oct 25, 2012 9:47am Oct 25, 2012 9:47am
Quoting fxtyrant
Ewww so its the crosses fucking around...
and if GU can't break this resistance eventually the crosses will find resistance and/or supply and then your wish should be granted!
  • #328,306
  • Oct 25, 2012 9:48am Oct 25, 2012 9:48am
Quoting walkman
i say up

EU also divergence. possible break
I SAY EU UP AND GBP DOWN... WHY?? i think i posted a chart about how EURGBP is about to meet Support??

you be the judge... if that Blue EMA acts well as a support.. we can see EURGBP back up to that RED EMA 200
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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,307
  • Oct 25, 2012 9:50am Oct 25, 2012 9:50am
express elevator to hell!! GOING DOWN!!
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To Your Success!!
  • #328,308
  • Oct 25, 2012 9:53am Oct 25, 2012 9:53am
Good day,

First off - my sincerest apology for my rant yesterday. Uncalled for - sort of.

Second - took a loss this morning on GU. See earlier posts for entry and SL.

I have not touched GU today.

Have traded EU with good result. Snapshot chart available - should anyone like to see proof.

Expecting a revisit @ 1.2983 in the near future. So building long again.

All the best
  • #328,309
  • Oct 25, 2012 10:05am Oct 25, 2012 10:05am
Quoting fxtyrant
I SAY EU UP AND GBP DOWN... WHY?? i think i posted a chart about how EURGBP is about to meet Support??

you be the judge... if that Blue EMA acts well as a support.. we can see EURGBP back up to that RED EMA 200
Attachment
This is the hour which I think we will break this tight range. I am short from 1.6139 but with a tight stop loss of 10 pips. I hope it doesn't fake north and takes my SL... lol
  • #328,310
  • Oct 25, 2012 10:18am Oct 25, 2012 10:18am
Quoting bbakker
This is the hour which I think we will break this tight range. I am short from 1.6139 but with a tight stop loss of 10 pips. I hope it doesn't fake north and takes my SL... lol
i know this will sound stupid, before I started using stop loss, I did not lose any money

AUD/USD dropped down, only after taking my tight stop loss....I should be in profit now. Historically I would be
  • #328,311
  • Oct 25, 2012 10:20am Oct 25, 2012 10:20am
Quoting bbakker
This is the hour which I think we will break this tight range. I am short from 1.6139 but with a tight stop loss of 10 pips. I hope it doesn't fake north and takes my SL... lol
Abo defo the worst pair to trade today after it had made the move to the current consolidation zone with the GDP news release... it has been like watching paint dry!
  • #328,312
  • Oct 25, 2012 10:22am Oct 25, 2012 10:22am
looks like this train is southbound
  • #328,313
  • Oct 25, 2012 10:25am Oct 25, 2012 10:25am
Quoting Raftron
i know this will sound stupid, before I started using stop loss, I did not lose any money

AUD/USD dropped down, only after taking my tight stop loss....I should be in profit now. Historically I would be
But I bet when you didn't have a stop loss, you had fairly big drawdowns?

Sometimes it is good to place a tight stop loss (i.e. when trading the lower timeframes) and other times it should be wider (20-50 pips) if trading the higher timeframes. It really is a matter of which timeframe you are trading from that depends on how tight the SL should be. Also the larger the stop loss, the larger the TP should be. Nothing wrong with risk/reward of 1:1, so long you average wins is more than 50%, but ideally it should be around 80%. Otherwise 1:2 or more should be the target.

Did you review the losing trade, understand why it took your SL and then moved in the right direction and how you will address that in your future trading?
  • #328,314
  • Oct 25, 2012 10:25am Oct 25, 2012 10:25am
Quoting alex1976
looks like this train is southbound
meh... well done :nerd:
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,315
  • Oct 25, 2012 10:26am Oct 25, 2012 10:26am
Quoting bbakker
This is the hour which I think we will break this tight range. I am short from 1.6139 but with a tight stop loss of 10 pips. I hope it doesn't fake north and takes my SL... lol
Finally! First stop @ 1.6110
  • #328,316
  • Oct 25, 2012 10:27am Oct 25, 2012 10:27am
Quoting bbakker
Very true... the path of least resistance is down!
yes sir!

if it retraces less than 30 pips then it still got room for 12/15 pips up
Learning Requires Failure
  • #328,317
  • Oct 25, 2012 10:29am Oct 25, 2012 10:29am
Quoting bbakker
But I bet when you didn't have a stop loss, you had fairly big drawdowns?

Sometimes it is good to place a tight stop loss (i.e. when trading the lower timeframes) and other times it should be wider (20-50 pips) if trading the higher timeframes. It really is a matter of which timeframe you are trading from that depends on how tight the SL should be. Also the larger the stop loss, the larger the TP should be. Nothing wrong with risk/reward of 1:1, so long you average wins is more than 50%, but ideally it should be around 80%. Otherwise 1:2 or more...

Thank you

I think my stop loss was too tight. I placed pending order below fibo's 50% and support line which was quickly broken on USD news. Suddenly price bounced back up and because the spread with my broker is massive on this pair, my stop loss was hit, by only few pips.

I guess I did nothing wrong expect too tight stop loss.

I would be 50 pips in profit now....
  • #328,318
  • Oct 25, 2012 10:32am Oct 25, 2012 10:32am
Quoting alex1976
looks like this train is southbound
hopefuly one of these that do not stop for loooong time
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  • #328,319
  • Oct 25, 2012 10:32am Oct 25, 2012 10:32am
Quoting fxtyrant
on such Good US news... the american arent stupid to move it now.... too expensive for them to move anything right now when UK and europe are still online... also UK having lunch....
so im expecting if any move to happen it'll be After NEW York's lunchtime...
dont you realize... the biggest move on the EURUSD and GBPUSD.. always happens when UK/EU and US are alone by themselves in the market?? the 4 or so hours during EU/UK's Morning.... and the 4 Hours During US's Afternoon session....
Oh shit... its like i know.... i mean... I dunno...
i just think i know...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,320
  • Oct 25, 2012 10:34am Oct 25, 2012 10:34am
sharp pull back today and retest of prev supply line heading up

USDOLLAR
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Learning Requires Failure
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