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Cable Update (GBPUSD)

  • #339,581
  • Edited 8:13am Apr 26, 2013 7:59am | Edited 8:13am
Break out don't seems convincing to me yet. Yen crosses are also weak. Just like how earlier 1.5422 fake out.
Now price will determine, if price can closed above 1.5492 for the base for breakout then i will close my new short.

Shorted @ 1.5494 with stop @ 1.5501. Target unknown as long not stop out. Choose to short for rr.

1.5480 Resistance turn support? Vs 1.5492.

Might be stopped out very soon if wrong

Will BE after price go under 1.5459
Attached Image (click to enlarge)
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  • #339,582
  • Apr 26, 2013 8:02am Apr 26, 2013 8:02am
Bullish engulfing candle on the 4HR.

Attached Image (click to enlarge)
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  • #339,583
  • Apr 26, 2013 8:18am Apr 26, 2013 8:18am
Quoting skyhawkps
Hopefully will start selling to south now!
I should extend my long more before I close it... them sneaky!!!
  • #339,584
  • Apr 26, 2013 8:22am Apr 26, 2013 8:22am
Quoting 5percent
Break out don't seems convincing to me yet. Yen crosses are also weak. Just like how earlier 1.5422 fake out. Now price will determine, if price can closed above 1.5492 for the base for breakout then i will close my new short. Shorted @ 1.5494 with stop @ 1.5501. Target unknown as long not stop out. Choose to short for rr. 1.5480 Resistance turn support? Vs 1.5492. Might be stopped out very soon if wrong Will BE after price go under 1.5459 {image}
how can you short for rr if you dont know the possible target yet ?!

that confuses me...
Hero calls followed by margin calls...
  • #339,585
  • Apr 26, 2013 8:27am Apr 26, 2013 8:27am
Quoting 5percent
as mentioned, these spikes are scary.. such data are pain in the ass, they put a forecast so much higher than previous. And now its better than previous and lower than forecast. Hourly close safer good game. so far has created new high. cautious pa.

u r right 100% there is no reason for usd to fall...
this news betetr than the last...they put an high exseptation
and all thos shity news are fals!!!
usd analyze according the chart is bullish that is my thinking.
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,586
  • Apr 26, 2013 8:29am Apr 26, 2013 8:29am
Quoting PhAnTi'
{quote} hmm, testing high right now... data to be published...anyway i dont care, im flat and so I will stay today.
seems you are right no move up before next week, I don't close my buys 1.54 should be a good support
  • #339,587
  • Apr 26, 2013 8:33am Apr 26, 2013 8:33am
Quoting eitan1010
{quote} u r right 100% there is no reason for usd to fall... this news betetr than the last...they put an high exseptation and all thos shity news are fals!!! usd analyze according the chart is bullish that is my thinking.
Attached Image (click to enlarge)
Click to Enlarge Name: usd 4 hours chatr.png Size: 35 KB
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,588
  • Apr 26, 2013 8:33am Apr 26, 2013 8:33am
Quoting 5percent
Break out don't seems convincing to me yet. Yen crosses are also weak. Just like how earlier 1.5422 fake out. Now price will determine, if price can closed above 1.5492 for the base for breakout then i will close my new short. Shorted @ 1.5494 with stop @ 1.5501. Target unknown as long not stop out. Choose to short for rr. 1.5480 Resistance turn support? Vs 1.5492. Might be stopped out very soon if wrong Will BE after price go under 1.5459 {image}
Nice
If there was easy money lying around,no one would be forcing it into your
  • #339,589
  • Apr 26, 2013 8:35am Apr 26, 2013 8:35am
Quoting PhAnTi'
{quote} how can you short for rr if you dont know the possible target yet ?! that confuses me...
my risk is less than 10 pips, no target is just trying to let it run or be stop out that's all.

tentatively, current PA @ 1.5468 is my 38.2 for the range. Now its lifting from there so far. If price closes below it preferably under 1.5459, i will break even the trade, to reduce my risk unless spikes slipped off the stop loss.

When it reached 1.5474, its already about 20 pips, if my risk less than 10? its more than 1:2 already. But since its not tp means its not yet rewarded while my risk is still open.

Everyone have their style and method of trading. Not necessary i have to follow a specific rule of entry and exit, i choose to plan what i am willing to lose before entering a trade. Whether how much the market can give me, is undecided until it get closed by stop out or when i choose to close it or trail it.

I choose to let the " target be opened " as its a Friday, and i expect more volatility. The lowest for intra-day is 1.5418, and that's a possible target too. or 1.5427 as support if 1.5418 is overshoot.

As the weekly coming to a full body and if there's no higher hi to be created today other than what we have currently, i am opened for targets until further developments or stopped out.
  • #339,590
  • Apr 26, 2013 8:38am Apr 26, 2013 8:38am
Quoting 5percent
{quote} my risk is less than 10 pips, no target is just trying to let it run or be stop out that's all. tentatively, current PA @ 1.5468 is my 38.2 for the range. Now its lifting from there so far. If price closes below it preferably under 1.5459, i will break even the trade, to reduce my risk unless spikes slipped off the stop loss. When it reached 1.5474, its already about 20 pips, if my risk less than 10? its more than 1:2 already. But since its not tp means its not yet rewarded while my risk is still open. Everyone have their style and method...
always like your explanation,awesome ~ Majulah Singapore !
If there was easy money lying around,no one would be forcing it into your
  • #339,591
  • Apr 26, 2013 8:49am Apr 26, 2013 8:49am
Quoting -sonny-
{quote} seems you are right no move up before next week, I don't close my buys 1.54 should be a good support
5411 - 5418 is the key to the downside

Attached Image (click to enlarge)
Click to Enlarge Name: 26-04-2013 gbpusd2.png Size: 31 KB
Hero calls followed by margin calls...
  • #339,592
  • Apr 26, 2013 8:51am Apr 26, 2013 8:51am
Quoting PhAnTi'
{quote} 5411 - 5418 is the key to the downside {image}
trading - a passion
Hero calls followed by margin calls...
  • #339,593
  • Apr 26, 2013 8:52am Apr 26, 2013 8:52am
Hi Navin, I'm so happy seeing you again. Have a nice weekend bro.

Quoting nAVIN2007
{quote} im good bro..still in the same trade as b4 so no real progress other than market having a limited effect on me..cant wait to actually start trading hope u well...how are u?
  • #339,594
  • Apr 26, 2013 8:52am Apr 26, 2013 8:52am
GBPUSD:
BUY
If the price breaks through the level 1.54955 bullish movement will start. Targets of the bullish movement: 1.56428.
SELL
If the price breaks through the level bearish movement will start. Targets of the bearish movement: 1.52427, 1.51848
  • #339,595
  • Apr 26, 2013 8:57am Apr 26, 2013 8:57am
Quoting 5percent
Break out don't seems convincing to me yet. Yen crosses are also weak. Just like how earlier 1.5422 fake out. Now price will determine, if price can closed above 1.5492 for the base for breakout then i will close my new short. Shorted @ 1.5494 with stop @ 1.5501. Target unknown as long not stop out. Choose to short for rr. 1.5480 Resistance turn support? Vs 1.5492. Might be stopped out very soon if wrong Will BE after price go under 1.5459 {image}
I am also short 1.5494 with same SL.
  • #339,596
  • Apr 26, 2013 9:03am Apr 26, 2013 9:03am
Quoting PhAnTi'
{quote} 5411 - 5418 is the key to the downside {image}
yep, I said 1.54 because of this ...
Attached Image
  • #339,597
  • Apr 26, 2013 9:06am Apr 26, 2013 9:06am
Quoting -sonny-
{quote} yep, I said 1.54 because of this ... {image}
Hero calls followed by margin calls...
  • #339,598
  • Apr 26, 2013 9:09am Apr 26, 2013 9:09am
Or this
Attached Image (click to enlarge)
Click to Enlarge Name: funnytraderemotionchart.jpg Size: 42 KB
  • #339,599
  • Apr 26, 2013 9:25am Apr 26, 2013 9:25am
Quoting -sonny-
{quote} yep, I said 1.54 because of this ... {image}
Luv this !
If there was easy money lying around,no one would be forcing it into your
  • #339,600
  • Apr 26, 2013 9:36am Apr 26, 2013 9:36am
Quoting FXMindset
{quote} Luv this !
yes, but we should really pay attention to this ''joke'' ... sticky stuff
Hero calls followed by margin calls...
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