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Cable Update (GBPUSD)

  • #335,221
  • Feb 6, 2013 4:33am Feb 6, 2013 4:33am
Quoting bbmac
G/M,

Bearish day yesterday but the previous 1hr/minor 4hr swing lo zone at yesterday's 5630 lo has held on multiple lower t/f tests this morning (so far at any rate)...I wonder whether the market is buying off the weekly/monthly ascending trend line/triangle bottom ? On the weekly, and particularly the monthly chart it looks like it got hit but on daily joining the lows it looks slightly lower down 5605-5590 area on today's daily candle

G/L
Morning BB

Oh you just HAD to bring that monthly chart in! I've been trying to ignore it for my short!

But I agree and hope you're right about 5590 today. In fact I hope we break that.
Ghost Rider - WWTBMD?
  • #335,222
  • Feb 6, 2013 4:38am Feb 6, 2013 4:38am
Hi bud, lol sorry about that - it is the 'elephant in the room' for bears ? hope you are well-nice short yesterday !

Monthly, Weekly, Daily and 4hr are looking technically bearish overall at the moment so hope you get a cricket score from it ! 1HR consolidation at the moment more than anything ?

G/L
ex member
  • #335,223
  • Feb 6, 2013 4:54am Feb 6, 2013 4:54am
Quoting bbmac
Hi bud, lol sorry about that - it is the 'elephant in the room' for bears ? hope you are well-nice short yesterday !

Monthly, Weekly, Daily and 4hr are looking technically bearish overall at the moment so hope you get a cricket score from it ! 1HR consolidation at the moment more than anything ?

G/L
Thanks bro. Yep, looking like it wants my stop at 5693 now. I thought about moving it off but I won't. I'll take the +106 on the second half. Took 148 on the first half yesterday.

Even tempted to close it right here...LOL
Ghost Rider - WWTBMD?
  • #335,224
  • Feb 6, 2013 5:34am Feb 6, 2013 5:34am
was just playing with weekly monthly charts to understand better the matter about that Trendline.
in my view, weekly must not close below 5700-20. in that case would mean first close under trendline.
definetly 5600-5630 is last area of trendline this week.

so if price will develop at these levels a great hourly bottom setup, we could see more up in 1-2 weeks.
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90% of traders use TA, indicators and prediction
  • #335,225
  • Feb 6, 2013 5:36am Feb 6, 2013 5:36am
This is a good move to fade. I am a seller into rallies. Wait till after NY option expiry and it will drop like a rock.
We're all stories in the end. Just try to make it a good one.
  • #335,226
  • Feb 6, 2013 5:46am Feb 6, 2013 5:46am
still waiting at 5715..
  • #335,227
  • Feb 6, 2013 5:49am Feb 6, 2013 5:49am
Quoting CasperTrader
No No. Actually I meant that unless 1.5930 gives, your long could go more than just the re-test of the TL that you see.
Oh ok

Honestly, given what I have witnessed on my screen the last few months, nothing would surprise me at all
Come with me if you want to live....
  • #335,228
  • Feb 6, 2013 6:53am Feb 6, 2013 6:53am
Inverted cup and handle on 30m? Is there such a thing? I SUCK at patterns....
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #335,229
  • Feb 6, 2013 7:21am Feb 6, 2013 7:21am
Quoting albchr
Inverted cup and handle on 30m? Is there such a thing? I SUCK at patterns....
no such thing... that is just a double bottom...

im good... dealing with everyday sh@t hope u're doing good as well
I don't want a job, i want money!
  • #335,230
  • Feb 6, 2013 9:35am Feb 6, 2013 9:35am
I'm Buying Gbp/Usd ... USD index is pretty high at resistance and gbp index is pretty low at support.
prepare for worst & expect the best
  • #335,231
  • Feb 6, 2013 10:41am Feb 6, 2013 10:41am
Welp, seems nothing much will happen until news sparks some moves tomorrow. Trade safe everyone.
Ghost Rider - WWTBMD?
  • #335,232
  • Feb 6, 2013 10:45am Feb 6, 2013 10:45am
Quoting albchr
Welp, seems nothing much will happen until news sparks some moves tomorrow. Trade safe everyone.

yeah keeps bouncing @60
safe trade will watch it tomorrow
Loosening is not an option
  • #335,233
  • Feb 6, 2013 11:02am Feb 6, 2013 11:02am
Quoting cloggie
Most traders though sit there: Ah yes I am right. Feck it is going against me. Yeehaa I am right again. Feck only 6 pips, better put my SL at BE. Yippee up 12 it is doing its thing. Feck getting close to BE better fiddle with my stop. Darn now at -12 maybe I am wrong. Shit now at -15 better close this one I am wrong this is going the wrong way, Feck, Feck, Feck. Might as well enter a trade in the opposite direction quickly and catch this one. Feck it is turning, now at -6, Feck now at -10, maybe I was right the first time, better close this one...
Aah Cloggs, you are sorely missed! have reread most of your posts once again. should be published in a book!
@pawpaw1000 on Twitter
  • #335,234
  • Feb 6, 2013 11:43am Feb 6, 2013 11:43am
Quoting 100PipsADay
It is strange, yes I've tried a new install. This didn't use to happen with their old MT4 but when they "upgraded" their platform this started happening. It never really bothered me until now as I am trying to test out a system using hard SL and TP targets.

No EA's or anything of that sort, only manual trading.

I'm talking with FXCM support now to try and figure this out. Thanks for the help though!
In order to comply with FIFO regulations in the US, we had to disable the functionality on MT4 that lets you set multiple stops (SL) and limits (TP) for the same currency pair. Since you mentioned that you're manually trading and not running an EA, you might like to know that we have updated our Trading Station platform, so it complies with FIFO regs and still lets you have multiple stops and limits as shown in the example below.

Trade 1 is opened as a 10k buy order with a Stop at 1.3400 and a Limit at 1.3700
http://img826.imageshack.us/img826/2...fifotrade1.png

Trade 2 is opened as a 10k buy order with a Stop at 1.3500 and a Limit at 1.3600
http://img341.imageshack.us/img341/2...fifotrade2.png

After both trades are opened, they appear grouped together as a single 20k net position in the Summary window.
http://img850.imageshack.us/img850/3...npositions.png

The separate Stops and Limits appear in the Orders window.
http://img687.imageshack.us/img687/4...sandlimits.png

Note that if the limit at 1.3600 is triggered, it will close out 10k of your net position, and the corresponding stop at 1.3500 will be cancelled. That will leave you with a remaining net position of 10k with a stop at 1.3400 and a limit at 1.3700.

If you have further questions about FXCM's platforms, feel free to him me up in our discussion thread.

Jason
  • #335,235
  • Feb 6, 2013 11:48am Feb 6, 2013 11:48am
Quoting fontu
adding some charts only as it may be seems price may bounce /correct over near limit 5691/3 towards 5754 or previous limit low 5808 again but actually not taking it true , so watching 5691/3 for the next reactions.some buying activity there at daily tf until market prove it wrong, whole day ahead.
fontu
still hanging there , watching daily close 5657 if can avoid below it .some charts add.
eu at least some progress ,price at expected levels 3523, 3484.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,236
  • Feb 6, 2013 11:48am Feb 6, 2013 11:48am
Quoting Jason Rogers
In order to comply with FIFO regulations in the US, we had to disable the functionality on MT4 that lets you set multiple stops (SL) and limits (TP) for the same currency pair. Since you mentioned that you're manually trading and not running an EA, you might like to know that we have updated our Trading Station platform, so it complies with FIFO regs and still lets you have multiple stops and limits as shown in the example below.

Trade 1 is opened as a 10k buy order with a Stop at 1.3400 and a Limit at 1.3700
http://img826.imageshack.us/img826/2...fifotrade1.png

Trade...
Aha , I knew someone was watching my Stop losses ..

  • #335,237
  • Feb 6, 2013 11:51am Feb 6, 2013 11:51am
Quoting taomql4
Aha , I knew someone was watching my Stop losses ..

LOL...beat me to it. Who says the brokers aren't watching this forum?
Ghost Rider - WWTBMD?
  • #335,238
  • Feb 6, 2013 11:52am Feb 6, 2013 11:52am
Quoting tony_dtrader
I'm Buying Gbp/Usd ... USD index is pretty high at resistance and gbp index is pretty low at support.
Let's hope the S.O.B ( I mean , Supply ..) , let's it through this time ( Second Test ..)

Meanwhile ...

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  • #335,239
  • Feb 6, 2013 11:54am Feb 6, 2013 11:54am
Quoting pawpaw1000
Aah Cloggs, you are sorely missed! have reread most of your posts once again. should be published in a book!
Just read cloggs profile - Sheesh , People take this place waay too seriously ..lol
  • #335,240
  • Feb 6, 2013 12:09pm Feb 6, 2013 12:09pm
Quoting taomql4
Aha , I knew someone was watching my Stop losses ..

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