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Cable Update (GBPUSD)

  • #334,101
  • Jan 17, 2013 12:12pm Jan 17, 2013 12:12pm
Quoting TauTrader
The last 4hr bar pulled back a bit too much for my liking. So not going to enter now. Will leave it for tomorrow. May get opportunity then.

Regards
yups, agree on that. cleared all my position as well.. gold jumps quite high... something changing in the market i think..

perhaps that is the end of the bear run, i presume..
  • #334,102
  • Jan 17, 2013 12:20pm Jan 17, 2013 12:20pm
Quoting A-speculator
yups, agree on that. cleared all my position as well.. gold jumps quite high... something changing in the market i think..

perhaps that is the end of the bear run, i presume..
Good day, A-Spec

Price up against resistance. Currently holding. Would like to see a retest of lower support - may then shoot a long from there. But to be confirmed.

Regards
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  • #334,103
  • Jan 17, 2013 12:38pm Jan 17, 2013 12:38pm
Quoting TauTrader
Good day, A-Spec

Price up against resistance. Currently holding. Would like to see a retest of lower support - may then shoot a long from there. But to be confirmed.

Regards
yeah, maybe that can work well judging by current scenario..

for me i'm shorting the swissy close to the resistance, not doing anything yet on cable or fiber..
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  • #334,104
  • Jan 17, 2013 12:58pm Jan 17, 2013 12:58pm
Quoting TauTrader
Good day, A-Spec

Price up against resistance. Currently holding. Would like to see a retest of lower support - may then shoot a long from there. But to be confirmed.

Regards
Gonna be reasonably pissed if she leaves me behind here.. Come back, auntie
  • #334,105
  • Jan 17, 2013 1:02pm Jan 17, 2013 1:02pm
Quoting TauTrader
Gonna be reasonably pissed if she leaves me behind here.. Come back, auntie
it's nearly asian session mate.. no point in making any trade now.. i cleared my swissy and gonna go to sleep..

see u later mate..
  • #334,106
  • Jan 17, 2013 1:47pm Jan 17, 2013 1:47pm
I would like to see price at 1.6168. Feels like a Dejavu
Numbers NEVER Lie
  • #334,107
  • Jan 17, 2013 2:19pm Jan 17, 2013 2:19pm
Quoting TauTrader
Gonna be reasonably pissed if she leaves me behind here.. Come back, auntie
i hear yah
  • #334,108
  • Jan 17, 2013 3:17pm Jan 17, 2013 3:17pm
It seems with this pair lately, as one support gives way, another one quickly steps in.
We still have congestion to deal with, will keep us watching for a bit I'm sure.
Come with me if you want to live....
  • #334,109
  • Jan 17, 2013 3:47pm Jan 17, 2013 3:47pm
Quoting Ill-b-back
It seems with this pair lately, as one support gives way, another one quickly steps in.
We still have congestion to deal with, will keep us watching for a bit I'm sure.
agree

market is creating a lot of traffic (congestion) both ways..making support and resistance and long term trades extremely hard
  • #334,110
  • Jan 17, 2013 4:24pm Jan 17, 2013 4:24pm
Quoting nAVIN2007
agree

market is creating a lot of traffic (congestion) both ways..making support and resistance and long term trades extremely hard
A choppy market you might add.

Hope you are well Nav?
Numbers NEVER Lie
  • #334,111
  • Jan 17, 2013 4:37pm Jan 17, 2013 4:37pm
Quoting ZizoFX
A choppy market you might add.

Hope you are well Nav?
im good bro..still in..looking for a result

I wanna ask u a couple of questions/ or something to make u think about regarding yur flags:-

first one is..what actually is a flag?
second what makes a flag descent and highly trad-able?

think about these things..because i have to be honest they are not flags
  • #334,112
  • Jan 17, 2013 4:41pm Jan 17, 2013 4:41pm
Quoting nAVIN2007
agree

market is creating a lot of traffic (congestion) both ways..making support and resistance and long term trades extremely hard
I'm glad we agree on something nAV

Lol...

Can't get the emoticons to work darn it.

Don't like this new FF format.
As they say, If it ain't broke...
Come with me if you want to live....
  • #334,113
  • Jan 17, 2013 4:44pm Jan 17, 2013 4:44pm
Quoting Ill-b-back
I'm glad we agree on something nAV

Lol...

Can't get the emoticons to work darn it.

Don't like this new FF format.
As they say, If it ain't broke...
yes i agree..this format sucks..there was nothing wrong with the old format, why they changed it, no idea
dont worry buddy, this market is a fruitcake, sometime we make a decision and it goes right but u have to put yur hand up and say "i got lucky"..lol

  • #334,114
  • Jan 17, 2013 5:15pm Jan 17, 2013 5:15pm
Quoting nAVIN2007
im good bro..still in..looking for a result

I wanna ask u a couple of questions/ or something to make u think about regarding yur flags:-

first one is..what actually is a flag?
second what makes a flag descent and highly trad-able?

think about these things..because i have to be honest they are not flags
Good to know bro.

Well depends on your style of trading.

Your First question is "What actually is a Flag? To be specific, a Bull flag is characterized by lower highs & lower lows with a kind of pattern slanting against the trend. A bull flags trend line runs parallel.

Your Second question, "What makes a Flag descent & HIGHLY trade-able? Well a break of the upper trend line & a retest is imminent in trading this pattern provided we are in an uptrend which I think we are anyways.

With proper Money Management & paying close attention to PA, which i'm on right now, things should workout well in the long run. One thing to note also is there is no guarantee that something is going to happen. I always tell myself this. If my setup fails the i look for another one. As simple as that. Holding on to a loss in the hope that things will go one's way is like wishing on a star.

You say they are not flags, Well i wouldn't argue with you because you have your reasons for saying so. You have your own system which you trade & no one can tell you otherwise, why, because its what you took your time to plan before even considering taking a position.

I can't be right all the time neither can I be wrong every time. The main thing is to make more gains than loses.

Thanks for your insight Nav & all the best with your trades
Numbers NEVER Lie
  • #334,115
  • Jan 17, 2013 5:43pm Jan 17, 2013 5:43pm
Quoting fxtyrant
and i dont post that shit up just to make people hate me, i prefer to LEAD people into the good habit of posting their trade together with their thought process as to WHY they entered the trade....
and to start things going...
id like ot share this trade i opened during asia today...
i longed the UCAD today Long Entry Average at 0.9856

and here is the analysis to it....
MACD Bullish Divergence Signal occured on Candle Open, it also occured when Daily EMA 55 is BELOW Daily EMA200...
so i placed the long... Expecting USDCAD to reach atleast...
Nice chart dude
This is the type of format that might inspire me to try this divergence setup.
I would need to add tech tools like TL etc to show some good confluence with the signal.
I can't bring myself to catch a falling knife so to speak just based on divergence, I need market price reaction to give me signs and TL's. That way I know where to put my SL so can use higher trade size relative to account rather than needing tiny trade size to account for the possible market "ignorance" of the divergence.

I like the way that 200ema is about to start hugging that top TL, this is the type of confluence I would like to see also.
Come with me if you want to live....
  • #334,116
  • Edited 6:08pm Jan 17, 2013 5:51pm | Edited 6:08pm
morning every1..

seems like nothing changed.. price managed to trade below 6000 sustainably on cable.. i think as long as price is trading below 6000, we can safely say that more downside possible..

continue shorting on fiber atm, 3376 is the price, let's see.. TP at 3325, roughly ~50 pips, then will see on how price progress.. might see consolidation, so i'm not going to hold for long the position, will see how price progress later..
  • #334,117
  • Jan 17, 2013 7:07pm Jan 17, 2013 7:07pm
Nice moving south again
  • #334,118
  • Jan 17, 2013 7:16pm Jan 17, 2013 7:16pm
Quoting alex1976
Nice moving south again
Today candle close is important, if the bias is bearish, we might get price lower than yesterday and perhaps another retest of 6000 next week.

That will strengthen bearish bias by another retest of the resistant and hold.
  • #334,119
  • Jan 17, 2013 7:24pm Jan 17, 2013 7:24pm
Quoting A-speculator
Today candle close is important, if the bias is bearish, we might get price lower than yesterday and perhaps another retest of 6000 next week.

That will strengthen bearish bias by another retest of the resistant and hold.
A spec, one thing at a time brother.

Lets not pontificate and hypothesize, let's trade as we see.

Now is south, I don't think it's south, it is south. Is being operative word.

If and when this changes, I will change with it.

Flow with the tide my "friend", trend till the end
  • #334,120
  • Jan 17, 2013 7:29pm Jan 17, 2013 7:29pm
When you see the wave coming, don't hesitate to jump on your surf board and ride it on, the longer you wait the more likely it is you will miss the wave.
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