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Cable Update (GBPUSD)

  • #329,101
  • Nov 5, 2012 6:18am Nov 5, 2012 6:18am
Btw, since cable retested 1.60, I have been short @1.5997, and I don't see anything stopping it before 1.5915-ish. Reserve the right to chicken out at any point though.

Such a collapse might bring EG tracking back up to retest the support line broken during this last week, to 8025, from where I would short.
  • #329,102
  • Nov 5, 2012 6:55am Nov 5, 2012 6:55am
Quoting bbmac
Stop hunting exists but I don't mean this in a conspiratorial - they are after me/my stop sense. You will hear a lot of traders talking about stop hunts that they often blame for being stopped out of what was either a bad trade anyway, or a good trade with a poor stop placement (both can amount to the same thing.) Traders place their stops in pretty obvious places and as such they can act as pools of liquidity. For eg traders buying expecting price to rise may place their stop under a level of support - so if that level of support...
Yes, I see what you mean - they simply aim for the liquidity. So the trick is to place your stop at a point beyond which the momentum of triggered stops 'runs out', because they become too thin on the ground to actually move the price.

Of course, professional traders with large stops would know this, and already place their stops beyond reach, wouldn't they? So the stop-hunting wouldn't work? Or would carry on indefinitely?

At this point, my brain starts to hurt...
  • #329,103
  • Nov 5, 2012 8:21am Nov 5, 2012 8:21am
Quoting Typeface
Btw, since cable retested 1.60, I have been short @1.5997, and I don't see anything stopping it before 1.5915-ish. Reserve the right to chicken out at any point though.
News at 15.00 should resolve this either way...
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  • #329,104
  • Nov 5, 2012 9:12am Nov 5, 2012 9:12am
tomorrow we attack the low with a bit of luck
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  • #329,105
  • Nov 5, 2012 9:14am Nov 5, 2012 9:14am
Quoting Typeface
News at 15.00 should resolve this either way...
  • #329,106
  • Nov 5, 2012 9:15am Nov 5, 2012 9:15am
Quoting nAVIN2007
007

is there any probability technically that we go back to 6140 or higher atm???
Learning Requires Failure
  • #329,107
  • Nov 5, 2012 9:17am Nov 5, 2012 9:17am
Quoting Typeface
Yes, I see what you mean - they simply aim for the liquidity. So the trick is to place your stop at a point beyond which the momentum of triggered stops 'runs out', because they become too thin on the ground to actually move the price.

Of course, professional traders with large stops would know this, and already place their stops beyond reach, wouldn't they? So the stop-hunting wouldn't work? Or would carry on indefinitely?

At this point, my brain starts to hurt...

professional player have the order books..it easier for them to know where to place stops..u have to be better than them..this is why very few make money the odds are against u..
stop hunting isnt a myth IMHO because this is zero sum..it has to exist..and thats the point of the order book, imagine getting the order book..u simply trade to where the majority of the stops are..its this simply..and also it can cost as month as 2k a month
  • #329,108
  • Nov 5, 2012 9:19am Nov 5, 2012 9:19am
Quoting tirmizi
007

is there any probability technically that we go back to 6140 or higher atm???
i doubt it money penny
today was a chance..tomorrow i reckon the chance is practically impossible unless we fail to break the low after an attempt
  • #329,109
  • Nov 5, 2012 9:38am Nov 5, 2012 9:38am
Quoting nAVIN2007
i doubt it money penny
today was a chance..tomorrow i reckon the chance is practically impossible unless we fail to break the low after an attempt
you made me sad



in next 36/48 hours is it possible to cross 6300???
Learning Requires Failure
  • #329,110
  • Nov 5, 2012 9:41am Nov 5, 2012 9:41am
Attention !!!
Important NEWS in HERE http://ruforum.mt5.com/images/smilies/ochki.gif
Always looking the GREAT, never left GOOD Point...
  • #329,111
  • Nov 5, 2012 11:14am Nov 5, 2012 11:14am
Quoting tirmizi
you made me sad



in next 36/48 hours is it possible to cross 6300???

only if u get high..did u buy or something?
  • #329,112
  • Nov 5, 2012 9:59pm Nov 5, 2012 9:59pm
Quoting nAVIN2007
only if u get high..did u buy or something?
Why he no short?? Btw i exited my shorted, looking to reload if i get a chance at 1.60
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,113
  • Nov 5, 2012 10:18pm Nov 5, 2012 10:18pm
it looks like the cable is raising now.But i dont want to as i have a big short position.will the pair fall down?? i am really confused now.There is a support at 1.5910 but price didnt go there.
  • #329,114
  • Nov 5, 2012 10:31pm Nov 5, 2012 10:31pm
Quoting zoomfire
it looks like the cable is raising now.But i dont want to as i have a big short position.will the pair fall down?? i am really confused now.There is a support at 1.5910 but price didnt go there.
The cable is raising now maybe just trick market. Please wait until 4-5 hour again. the cable "maybe" tank to 1590x with bank trade.

i also hope fall down now
even better than mama
  • #329,115
  • Nov 5, 2012 11:14pm Nov 5, 2012 11:14pm
http://www.pic4ever.com/images/kaffeetrinker_2.gif
  • #329,116
  • Nov 6, 2012 12:03am Nov 6, 2012 12:03am
Quoting zoomfire
it looks like the cable is raising now.But i dont want to as i have a big short position.will the pair fall down?? i am really confused now.There is a support at 1.5910 but price didnt go there.
still bearish..

major support at 1.5805 and 1.5775

btw..i just started my stats here..
http://www.forexfactory.com/forexisbiz
  • #329,117
  • Nov 6, 2012 1:54am Nov 6, 2012 1:54am
Quoting forexisbiz
still bearish..

major support at 1.5805 and 1.5775

btw..i just started my stats here..
http://www.forexfactory.com/forexisbiz
How do you find that number, and how do you know it is major?
deep RoT is essential for everlasting happyness
  • #329,118
  • Nov 6, 2012 2:07am Nov 6, 2012 2:07am
Quoting zoomfire
it looks like the cable is raising now.But i dont want to as i have a big short position.will the pair fall down?? i am really confused now.There is a support at 1.5910 but price didnt go there.
I did have two medium positions as well, final TP @ 15850. Good luck zoonfire
  • #329,119
  • Nov 6, 2012 2:11am Nov 6, 2012 2:11am
pound$ is showing some signs to initially go to my first tgt 6052/53 and then 6140 and higher
Learning Requires Failure
  • #329,120
  • Nov 6, 2012 2:11am Nov 6, 2012 2:11am
i see res zone starting from 6060 to 6075 if prices clear that zone then we are good to go to 6140 and higher
Learning Requires Failure
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