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Cable Update (GBPUSD)

  • #332,341
  • Dec 12, 2012 3:24am Dec 12, 2012 3:24am
GBP/USD continued higher today breaking then bouncing off the 1.6102 level. US Fed decision may move the markets a bit depending on figure.
  • #332,342
  • Dec 12, 2012 3:31am Dec 12, 2012 3:31am
surprised that 44 is taken out. was expecting some resistance there. 60 will be a tough nut to crack
  • #332,343
  • Dec 12, 2012 4:35am Dec 12, 2012 4:35am
Quoting CasperTrader
Hmm. Finally reached 6140. Adding some shorts here. Will continue until 6200. Else bailout.
not a good idea to add to the losing position atm imho..

we bluff (entry at the resistance), market calls (resistance breakout), it didn't work out.. not yet a bear market.

better take sometime to plan for the next entry (on the long side of the market, perhaps?), don't rush things mate..
  • #332,344
  • Dec 12, 2012 5:20am Dec 12, 2012 5:20am
Quoting A-speculator
not a good idea to add to the losing position atm imho..

we bluff (entry at the resistance), market calls (resistance breakout), it didn't work out.. not yet a bear market.

better take sometime to plan for the next entry (on the long side of the market, perhaps?), don't rush things mate..
Nice words spec, some ppl love trying to pick tops and bottoms, trend however is still up as you said.

Trend is ya friend till da very end...
  • #332,345
  • Dec 12, 2012 6:42am Dec 12, 2012 6:42am
Quoting A-speculator
not a good idea to add to the losing position atm imho..

we bluff (entry at the resistance), market calls (resistance breakout), it didn't work out.. not yet a bear market.

better take sometime to plan for the next entry (on the long side of the market, perhaps?), don't rush things mate..
Thanks man for the kind words. I appreciate it. The reason I entered here is because I see a resistance zone in the area 6140-95. I'm mostly a swing trader and how everyone says it's okay to miss the boat and not try to catch the top/bottom. Though I agree to that I've developed a style that seems to work for me. For example, I added only a small part of the short now and plan to add some more in 50s, 60s and so on until 90s. That way my price is averaged out. Moreover I do the reverse when price goes against or in favor of me, that is to cut down my position slowly. To the same effect, in past couple of weeks as we had reached lower 61xx, I had been closing them out partly in lower 60xx and remaining BE.

I'm not very good at estimating exact good entry points. That is where I learn from experienced traders like you. To me, trying to time such an entry is like trying to catch a top/bottom.

P.S. - I don't risk the max the first time. It's based on my average price as if I was fully loaded with the amount originally intended.
  • #332,346
  • Dec 12, 2012 7:22am Dec 12, 2012 7:22am
Quoting CasperTrader
Thanks man for the kind words. I appreciate it. The reason I entered here is because I see a resistance zone in the area 6140-95. I'm mostly a swing trader and how everyone says it's okay to miss the boat and not try to catch the top/bottom. Though I agree to that I've developed a style that seems to work for me. For example, I added only a small part of the short now and plan to add some more in 50s, 60s and so on until 90s. That way my price is averaged out. Moreover I do the reverse when price goes against or in favor of me, that is to cut down...

Casper, one word, "Trend"
  • #332,347
  • Dec 12, 2012 7:38am Dec 12, 2012 7:38am
Quoting alex1976
Casper, one word, "Trend"
When I finally figure it out, it usually ends.
  • #332,348
  • Dec 12, 2012 7:47am Dec 12, 2012 7:47am
Quoting CasperTrader
When I finally figure it out, it usually ends.

If you dont figure it out, your account will usually end.
  • #332,349
  • Dec 12, 2012 8:25am Dec 12, 2012 8:25am
well, finally i read the word "trend", after 300pips from the bottom, finally somebody start talk about "trend"

nice
  • #332,350
  • Dec 12, 2012 9:07am Dec 12, 2012 9:07am
R1 is holding from a short retrace.will GU sore up and make way to 1.6170 ??
daily shows signal for bull.
  • #332,351
  • Dec 12, 2012 9:58am Dec 12, 2012 9:58am
A broken Bull flag or a retest of broken trendline? The green lines are my major support lines & the red lines may major resistance. 1st resistance breached. Can we test the 2nd before Dec. 31st?

GL
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Numbers NEVER Lie
  • #332,352
  • Dec 12, 2012 11:45am Dec 12, 2012 11:45am
Trend
  • #332,353
  • Dec 12, 2012 12:31pm Dec 12, 2012 12:31pm
Let's see what happens...hoping to scale out at 1.6118
Attached Image (click to enlarge)
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  • #332,354
  • Dec 12, 2012 12:48pm Dec 12, 2012 12:48pm
wow i am really suffering betting for Yen Demand... Yen Easing shit just got real.... guess i have to hold the positions for long because a pullback to EMA200 is bound to happen....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #332,355
  • Dec 12, 2012 1:26pm Dec 12, 2012 1:26pm
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You think that the 61.8 fib level can be retraced before the year end? Anyone?

Thanks.
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #332,356
  • Dec 12, 2012 1:42pm Dec 12, 2012 1:42pm
No one knows and if anyone tells you they do or that somehow their own analysis is predictive and they can tell - then they are deceiving you and possibly themselves. No one knows - it's that simple. We are in an uptrend on 1hr 4hr and daily t/f's but it is entirely possible that such a steep pullback could occur which would actually end the present 1hr and possibly even the 4hr uptrend. Anything can happen - we just don't know what and I know it's probably not the answer/comfort you are looking for being underwater with your short - but it's the truth.

G/L

Quoting surgeon
Attachment

You think that the 61.8 fib level can be retraced before the year end? Anyone?

Thanks.
ex member
  • #332,357
  • Dec 12, 2012 2:04pm Dec 12, 2012 2:04pm
Quoting bbmac
No one knows and if anyone tells you they do or that somehow their own analysis is predictive and they can tell - then they are deceiving you and possibly themselves. No one knows - it's that simple. We are in an uptrend on 1hr 4hr and daily t/f's but it is entirely possible that such a steep pullback could occur which would actually end the present 1hr and possibly even the 4hr uptrend. Anything can happen - we just don't know what and I know it's probably not the answer/comfort you are looking for being underwater with your short - but it's the...
I'm used to razor-sharpness and so that was rather blunt.

Thanks!
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #332,358
  • Dec 12, 2012 2:41pm Dec 12, 2012 2:41pm
Quoting nAVIN2007
Nice boat u have there..and u going with the tidal waves
good trading
I'm on a Surfboard now ( Much better .. )

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  • #332,359
  • Dec 12, 2012 2:44pm Dec 12, 2012 2:44pm
Quoting ZizoFX
A broken Bull flag or a retest of broken trendline? The green lines are my major support lines & the red lines may major resistance. 1st resistance breached. Can we test the 2nd before Dec. 31st?

GL
Lets Hope so ..

Waiting for a Test ..( 9d Candle..)

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  • #332,360
  • Dec 12, 2012 6:27pm Dec 12, 2012 6:27pm
Maybe a nice time to boat load at the trendline right right here
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