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Cable Update (GBPUSD)

  • #328,741
  • Oct 31, 2012 12:19pm Oct 31, 2012 12:19pm
Quoting walkman
I wait something like this
I didn't wait

http://gyazo.com/0c028558b48e0137d83b4e59c96cfd9e
  • #328,742
  • Oct 31, 2012 12:32pm Oct 31, 2012 12:32pm
Quoting bbakker
I didn't wait

http://gyazo.com/0c028558b48e0137d83b4e59c96cfd9e
we will see
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  • #328,743
  • Oct 31, 2012 12:42pm Oct 31, 2012 12:42pm
Quoting walkman
we will see
ES (S&P 500) is getting a boost after NY lunch... let's hope EU follows!
  • #328,744
  • Oct 31, 2012 12:48pm Oct 31, 2012 12:48pm
Quoting bbakker
ES (S&P 500) is getting a boost after NY lunch... let's hope EU follows!
i hope so.

gu reacted good in trend line eu waiting

i think some traders waiting h1 close
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  • #328,745
  • Oct 31, 2012 1:14pm Oct 31, 2012 1:14pm
Quoting walkman
i hope so.

gu reacted good in trend line eu waiting

i think some traders waiting h1 close
55 is holding for now.. could be a slow one!
  • #328,746
  • Oct 31, 2012 1:47pm Oct 31, 2012 1:47pm
Quoting bbakker
55 is holding for now.. could be a slow one!
today already second time when i posted trade setup but executed incorrect.

i entered to early.

I'm in complete agony. Because i can't trade today according my own strategy.

Tomorrow not trading and not siting in FF but reading about trading psychology, and trading execution.

1. pic make analysis
2. pic posted trade setup
3. pic entered to early and lost
4. pic BUT ANALYSIS WAS RIGHT ANT SETUP CORRECT. JUST ENTERED TO EARLY
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  • #328,747
  • Edited 2:06pm Oct 31, 2012 1:53pm | Edited 2:06pm
Quoting walkman
today already second time when i posted trade setup but executed incorrect.

i entered to early.

I'm in complete agony. Because i can't trade today according my own strategy.

Tomorrow not trading and not siting in FF but reading about trading psychology, and trading execution.

1. pic make analysis
2. pic posted trade setup
3. pic entered to early and lost
4. pic BUT ANALYSIS WAS RIGHT ANT SETUP CORRECT. JUST ENTERED TO EARLY


55 is a key level for bulls, so I'm still in as it didn't hit my SL. Look at my chart again and you will find the key levels played out today on EU. Notice how they're 20 pips apart! GU plays to 30 pips.

To stop from entering too early, do your analysis and then set your order. Then wait for price to hit! You can never be too early then as long as you identified the support or resistance correctly
  • #328,748
  • Oct 31, 2012 2:17pm Oct 31, 2012 2:17pm
Quoting bbakker


55 is a key level for bulls, so I'm still in as it didn't hit my SL. Look at my chart again and you will find the key levels played out today on EU. Notice how they're 20 pips apart! GU plays to 30 pips.

To stop from entering too early, do your analysis and then set your order. Then wait for price to hit! You can never be too early then as long as you identified the support or resistance correctly


it didn't hit my SL also... so will see
  • #328,749
  • Oct 31, 2012 2:58pm Oct 31, 2012 2:58pm
Watching 6155 at London
Come with me if you want to live....
  • #328,750
  • Oct 31, 2012 3:00pm Oct 31, 2012 3:00pm
Quoting Ill-b-back
Watching 6155 at London
With any hope/luck/forex weed
Come with me if you want to live....
  • #328,751
  • Oct 31, 2012 3:04pm Oct 31, 2012 3:04pm
Anyone any opinion on this high market pre election then a sell off once election is done??
Come with me if you want to live....
  • #328,752
  • Oct 31, 2012 3:08pm Oct 31, 2012 3:08pm
Quoting Ill-b-back
With any hope/luck/forex weed
The only way not to think about money is to have a great deal of it
  • #328,753
  • Oct 31, 2012 3:12pm Oct 31, 2012 3:12pm
Quoting Makavelli7
He he, I knew you would be lurking.
Come with me if you want to live....
  • #328,754
  • Oct 31, 2012 3:13pm Oct 31, 2012 3:13pm
Quoting Makavelli7
Doesn't take much to "smoke" you out so to speak...
Come with me if you want to live....
  • #328,755
  • Oct 31, 2012 3:31pm Oct 31, 2012 3:31pm
Quoting walkman


it didn't hit my SL also... so will see
It has now... Oh well!
  • #328,756
  • Oct 31, 2012 8:07pm Oct 31, 2012 8:07pm
hi

Attached is my chart what do you guys think
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  • #328,757
  • Oct 31, 2012 9:34pm Oct 31, 2012 9:34pm
Took long @6128 with target around 6160.
When Scalpers win, I lose and Vice varsa...
  • #328,758
  • Oct 31, 2012 9:47pm Oct 31, 2012 9:47pm
Quoting bbakker
We have no control over the market, so nothing wrong with a little hope. The trouble starts when price turns against you and you don't have a SL in place, the charts are clearly telling you otherwise, but you 'hope' that it turns again in your favourable direction. Some even throw more money at it by averaging their losers, Nachiket being one of them. Nothing wrong with scaling into a trade, but when it isn't planned and you throw more trades onto the chart, 'hoping' price will turn, it really is a recipe for disaster. Usually these people don't...
small correction: I don't average. I took loses on my shorts last month. basically got trapped from 1.59 to 1.61 rally.
  • #328,759
  • Edited 10:18pm Oct 31, 2012 10:14pm | Edited 10:18pm
Good day,

Just thought I would post my current thoughts - it's to keep me honest and also for you to comment - should you so choose. But these are just thoughts.

One scenario I see:

The recent low formed on 23 October (marked 1) @ around 1.591x is not the last of it. It's not a key low. That still has to come - eventually.

I also like to believe that we still need to go a little bit higher still from the current 1.6120/30 level to possibly test 1.6160/1.6180 area at the top of the current channel I have on the chart ( marked 2)

Should the channel hold and we form fractal resistance there - we may start the leg down to eventually pass the recent low. BUT - we could also form a new high first - surpassing the older fractal high above 1.631x first before we go down to take out 1.591x...

So - not saying much actually - just thinking out loud.

I'm cutting my shorts here for -6 pips in total.

I'm going to wait a bit...

Regards
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  • #328,760
  • Oct 31, 2012 10:28pm Oct 31, 2012 10:28pm
Looking at the longer term channel - we are at a key area.

Do we trade back down from here - or break and run north - based on some distorted bullish flag type pattern backed by a channel break?

Typical area to position prior to major news releases - point of most uncertainty.

Regards
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