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Cable Update (GBPUSD)

  • #331,361
  • Nov 30, 2012 10:13am Nov 30, 2012 10:13am
damn this pair is giving me headache today, up, down, up, down, now what, up down down up it's damn chaos, god save us!
  • #331,362
  • Nov 30, 2012 10:13am Nov 30, 2012 10:13am
Quoting TauTrader
to the extremes we go, my friend..

Not gonna watch the tennis.. going to take the wife for a dance party.First sushi.. it's Friday.

1.6044 set as cancel. 1.5984 set as TP.

I hate this sh*t...

regards
Last post..

The current PA is a "screw with your brain" session.

I'm sorry. Bullshit.

See Monday. All success

Regards
  • #331,363
  • Nov 30, 2012 10:14am Nov 30, 2012 10:14am
Quoting TauTrader
Last post..

The current PA is a "screw with your brain" session.

I'm sorry. Bullshit.

See Monday. All success

Regards
have a good weekend!
  • #331,364
  • Nov 30, 2012 12:09pm Nov 30, 2012 12:09pm
I will be a buyer on this but not at the moment. Will want to wait till Monday.
Looking at the 4hours

-Trend indicators and chart pattern are pointing up .
-Wave Indicators (short time trend) are pointing down and hence the pair is experiencing a temporary down correction while the pair not yet oversold.
-Will just monitor later on and buy when I get indication the correction is over
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  • #331,365
  • Nov 30, 2012 12:09pm Nov 30, 2012 12:09pm
i want to forget about this week, been very frustrating
  • #331,366
  • Nov 30, 2012 3:05pm Nov 30, 2012 3:05pm
Quoting alex1976
i want to forget about this week, been very frustrating

i hear u..man this week has been crazy..i can honestly say thanks god i swing trade..if i kept entering im sure id have lost a fortune..its been ping pong to the highest degree
  • #331,367
  • Nov 30, 2012 3:44pm Nov 30, 2012 3:44pm
Quoting nAVIN2007
i hear u..man this week has been crazy..i can honestly say thanks god i swing trade..if i kept entering im sure id have lost a fortune..its been ping pong to the highest degree

hourly and daily are almost nothing in terms of range, weekly has become like the new daily, lol

Anyhow, a good trader must know how to adapt the the changing conditions of the market.

I made the mistake this week of making a few impulsive trades cause i got stopped out early this week on my long trade. I should have sat on the sidelines but instead i felt the need to redeem myself and I got back in long on Wednesday after that hammer candle but again got stopped out with a 30 pip stop loss.

I feel upset man going into the weekend but another lesson and loss can't but help try make one a better trader.

What do you make of this weekly candle, or would you say it lacks true conviction to trade off of?
  • #331,368
  • Nov 30, 2012 3:53pm Nov 30, 2012 3:53pm
Quoting Ill-b-back
Yes, I still get sucked into protective trading and taking early profits at times, particularly in these situations.

Market making bluff, double bluff, and still 2 high impact news trading days to come

It's the stuff of legends
Thanks man. Your inputs kept reminding me to keep an eye on Monthly, Weekly and Daily close and not do any more impulsive trading. I'm still holding my shorts.

Last few hours price has been bouncing right in the middle of high 1.6062 and low of 1.5988 (range 1.6020 - 1.6030). Let's see where it closes. I'm waiting for it to close weekly (which according to my broker will start Monday Asia session 0 hrs GMT) below 1.6014. I was hoping for a daily close below 1.5985 but seems like price bounced off that point earlier today but might close as a bear candle making a high above recent prices.

To me, it looks bearish but not confirmed until daily close below 1.5985 (again will depend on 0 hrs GMT next week on Sunday) which also happens to break the ascending triangle lower trendline.

GL next week! Cheers.
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  • #331,369
  • Nov 30, 2012 4:01pm Nov 30, 2012 4:01pm
Quoting alex1976
hourly and daily are almost nothing in terms of range, weekly has become like the new daily, lol

Anyhow, a good trader must know how to adapt the the changing conditions of the market.

I made the mistake this week of making a few impulsive trades cause i got stopped out early this week on my long trade. I should have sat on the sidelines but instead i felt the need to redeem myself and I got back in long on Wednesday after that hammer candle but again got stopped out with a 30 pip stop loss.

I feel upset man going into the weekend but another...
I think we are going down..at least lower to 1.5950
dont beat yourself up, remember this market condition is crazy..i think i can read a chart quite well and i have seen many signals to short and next candle has actually made a new high..u cannot call it short term..weekly is bearish now dailly is as well ..but the yearly is bullish..and these levels are good supports..making it quite tricky..but i remain short
  • #331,370
  • Nov 30, 2012 4:14pm Nov 30, 2012 4:14pm
Quoting nAVIN2007
I think we are going down..at least lower to 1.5950
dont beat yourself up, remember this market condition is crazy..i think i can read a chart quite well and i have seen many signals to short and next candle has actually made a new high..u cannot call it short term..weekly is bearish now dailly is as well ..but the yearly is bullish..and these levels are good supports..making it quite tricky..but i remain short

Yea Nav, Ive decided Im not even going to look at hourly anymore.

Im just going to focus on weekly and daily.

Me too, my postion is also short.

I guess it weeks like this that we can learn from and become better traders.
  • #331,371
  • Nov 30, 2012 4:16pm Nov 30, 2012 4:16pm
Quoting nAVIN2007
I think we are going down..at least lower to 1.5950
dont beat yourself up, remember this market condition is crazy..i think i can read a chart quite well and i have seen many signals to short and next candle has actually made a new high..u cannot call it short term..weekly is bearish now dailly is as well ..but the yearly is bullish..and these levels are good supports..making it quite tricky..but i remain short
i agree you with Navin. i am bearish as well but this week has been awful. and now we approach last month of the year.

i want candle to close below 2 hours and 4 hourly chart in order to go down then i will target 1.5940-45 region
  • #331,372
  • Nov 30, 2012 4:33pm Nov 30, 2012 4:33pm
Quoting alex1976
Yea Nav, Ive decided Im not even going to look at hourly anymore.

Im just going to focus on weekly and daily.

Me too, my postion is also short.

I guess it weeks like this that we can learn from and become better traders.

what i do is look at the monthly, find the direction and play it from the weekly in sink with the monthly..i will never look at the 1hr..
and then just be patient..
  • #331,373
  • Nov 30, 2012 4:37pm Nov 30, 2012 4:37pm
Quoting nAVIN2007
what i do is look at the monthly, find the direction and play it from the weekly in sink with the monthly..i will never look at the 1hr..
and then just be patient..

Yes, patience is not my strongest point, but I'm getting there and have made some progress, lol
  • #331,374
  • Nov 30, 2012 4:40pm Nov 30, 2012 4:40pm
Quoting alex1976
Yes, patience is not my strongest point, but I'm getting there and have made some progress, lol

Thanks for the advice Nav, you always keep it clear and concise, no bells or whistles.
  • #331,375
  • Nov 30, 2012 5:50pm Nov 30, 2012 5:50pm
Quoting Ill-b-back
I seeee yooouuuuu.....

Sneaky sneaky...



I know Benny can do it, just keep pumping the economy full of gas until the ink runs out...

Then perhaps sometime late next year around 1.67 or so, when the true financial situation of the ENTIRE FUCKING GLOBE finally hits home to every investor in the entire world.

All that will be left to do,

is sell.........

Have a great weekend everyone.

I've Got to go to bed.

Goodnight all
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Come with me if you want to live....
  • #331,376
  • Nov 30, 2012 6:00pm Nov 30, 2012 6:00pm
http://www.forexfactory.com/attachme...9&d=1354319341
Moody's downgrades ESM to Aa1 from Aaa and EFSF to (P)Aa1 from (P)Aaa,
maintains negative outlook on ratings
not euphoria follower
  • #331,377
  • Dec 1, 2012 1:49am Dec 1, 2012 1:49am
Quoting iqyu5an
http://www.forexfactory.com/attachme...9&d=1354319341
Moody's downgrades ESM to Aa1 from Aaa and EFSF to (P)Aa1 from (P)Aaa,
maintains negative outlook on ratings
Hello.
If you don`t mind me asking, What is your platform? (or brokers)
bye.
  • #331,378
  • Dec 1, 2012 2:22am Dec 1, 2012 2:22am
hi.
standard mt4 + standard indi in mt4 also

am using windsor to monitor usdx ( u can find it at the bottom of my chart )


tq. happy weekend


Quoting entheos
Hello.
If you don`t mind me asking, What is your platform? (or brokers)
bye.
not euphoria follower
  • #331,379
  • Dec 1, 2012 3:09am Dec 1, 2012 3:09am
LOL

Inserted Video
90% of traders use TA, indicators and prediction
  • #331,380
  • Dec 1, 2012 3:34am Dec 1, 2012 3:34am
Quoting _BBKing_
LOL

http://www.youtube.com/watch?v=sl3VCQ5s8mU
Lol

It's enough to make you take the stairs

Lol...
Come with me if you want to live....
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