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Cable Update (GBPUSD)

  • #346,441
  • Sep 5, 2013 10:32am Sep 5, 2013 10:32am
Quoting TauTrader
Good day, I picked a friggin' bottom to start selling... My BE is at 0.94148.. Now at 0.94461. I'm so screwed.. what am I going to do? Please help! ( pair is Swissy) Regards {image}
hi mate, what are u thinking adding to your losses like that mate? currently, in 4h i'm not sure the uptrend we see yesterday is sustainable.. and we are approaching the end of the week with wars around the corner.. so a lot of uncertainty all around - trade with cautious..

regarding, swissy, im not sure i've seen any indication of bearishness.. if i were you, i'll cut all the losses and move on.. just my humble opinion..
  • #346,442
  • Sep 5, 2013 10:34am Sep 5, 2013 10:34am
Doh! - no I didn't fail to notice the short signal - there wasn't one -the charts/sentiment were bullish right up until the unscheduled/unknown risk event happened/hit the wires and price immediately fell off the edge of a cliff only then did they become bearish - that is the point about unknown/unscheduled risk events - they just happen regardless of technical of prevailing market conditions to the point they happen and they can add to a prevailing sentiment or reverse it. Of course when it became clear what had happened (7/7 bombings in London) - I was no longer looking to go long that day...as for every thing happening for a reason - yes the reason was that a bunch of deluded men thought that by killing indiscriminately they would alter the west's foreign policy - and in this they failed !

G/L

Quoting JesseLiver
{quote} you might be right when u try long on that day,but you was failed to notice there is a short signal also as everything happened for a reason
ex member
  • #346,443
  • Sep 5, 2013 10:35am Sep 5, 2013 10:35am
regarding cable, perhaps we will see in a day of two whats really going on.. as of today, my believe we will see a drop and the high yesterday is simple a lower high compared with previous daily candle.

as of current pattern, i am more to plan for short rather than adding new position for long..
  • #346,444
  • Sep 5, 2013 10:41am Sep 5, 2013 10:41am
Quoting TauTrader
Good day, I picked a friggin' bottom to start selling... My BE is at 0.94148.. Now at 0.94461. I'm so screwed.. what am I going to do? Please help! ( pair is Swissy) Regards {image}
Hi Tau,

It's really BULLISH Strongest

Price 0.9386 as Neckline

H4 Chart
Near SOLID SUPPLY (Green Solid Color) Posible Break.

DAILY Chart
Price 0.9490 as 138.2 Fibo and if can't Break in YELLOW (Diagonal) Line. Posible Down again.
But... if Break, Price will continue to Price 0.9549 as 161.8 Fibo


Take Care
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-09-05_USDCHF - H4 Chart.jpg Size: 205 KB
Click to Enlarge Name: 2013-09-05_USDCHF - Daily Chart.jpg Size: 204 KB
Always looking the GREAT, never left GOOD Point...
  • #346,445
  • Sep 5, 2013 10:44am Sep 5, 2013 10:44am
Quoting Tsar
{quote} Hi Tau, It's really BULLISH Strongest Price 0.9386 as Neckline H4 Chart Near SOLID SUPPLY (Green Solid Color) Posible Break. DAILY Chart Price 0.9490 as 138.2 Fibo and if can't Break in YELLOW (Diagonal) Line. Posible Down again. But... if Break, Price will continue to Price 0.9549 as 161.8 Fibo Take Care {image} {image}
Correction : I mean BROKEN


ps: I can't edit my Post... I'm sorry.
Always looking the GREAT, never left GOOD Point...
  • #346,446
  • Sep 5, 2013 10:48am Sep 5, 2013 10:48am
Quoting A-speculator
{quote} hi mate, what are u thinking adding to your losses like that mate? currently, in 4h i'm not sure the uptrend we see yesterday is sustainable.. and we are approaching the end of the week with wars around the corner.. so a lot of uncertainty all around - trade with cautious.. regarding, swissy, im not sure i've seen any indication of bearishness.. if i were you, i'll cut all the losses and move on.. just my humble opinion..
good day to you, A-Spec

I do not know. I think I got carried away..

I was thinking that 0.9095 - 0.9085 would be a good target to aim for over time. I can cut my losses, but I cannot face a loss. It will make me look bad and then FXtyrant will come and belittle me in front of everyone. Also NAV will make jokes about it.

You know how it goes. I will rather stay in my position till margin call @ 1.10571.

Thank you for your advice

all the best
  • #346,447
  • Sep 5, 2013 10:54am Sep 5, 2013 10:54am
Quoting TauTrader
Good day, I picked a friggin' bottom to start selling... My BE is at 0.94148.. Now at 0.94461. I'm so screwed.. what am I going to do? Please help! ( pair is Swissy) Regards {image}
My Advice your SL put above Price 0.9485

Sometimes over than Lowest SOLID SUPPLY Area.

Remember these only my advice, your choice in your hand.


GL
Always looking the GREAT, never left GOOD Point...
  • #346,448
  • Sep 5, 2013 11:00am Sep 5, 2013 11:00am
Quoting TauTrader
{quote} good day to you, A-Spec I do not know. I think I got carried away.. I was thinking that 0.9095 - 0.9085 would be a good target to aim for over time. I can cut my losses, but I cannot face a loss. It will make me look bad and then FXtyrant will come and belittle me in front of everyone. Also NAV will make jokes about it. You know how it goes. I will rather stay in my position till margin call @ 1.10571. Thank you for your advice all the best
what that have anything to do with others? it's your trade man.. why would you care what others will think? just take the losses and rebuild everything back..

it's ok losing sometimes in this business..
  • #346,449
  • Sep 5, 2013 11:04am Sep 5, 2013 11:04am
Quoting Tsar
{quote} My Advice your SL put above Price 0.9485 Sometimes over than Lowest SOLID SUPPLY Area. Remember these only my advice, your choice in your hand. GL

Good day, sir

But I do not trade with SL...

I thought I got a good system, but now it has turned on me....

I'm so confused
  • #346,450
  • Sep 5, 2013 11:13am Sep 5, 2013 11:13am
Quoting A-speculator
{quote} what that have anything to do with others? it's your trade man.. why would you care what others will think? just take the losses and rebuild everything back.. it's ok losing sometimes in this business..
good day to you, Sir A

It's my trade - yes. You are correct...

Thank you everyone for your input

regards
  • #346,451
  • Sep 5, 2013 11:17am Sep 5, 2013 11:17am
Quoting TauTrader
{quote} Good day, sir But I do not trade with SL... I thought I got a good system, but now it has turned on me.... I'm so confused
Dear Tau,

I've got experienced like you, before I sign in FF Forum. Not use Stop Loss.
And got BIG LOSS @ US Market's after Collective Profit in 3 Days.

After that's I hardest to Learn and Study in FX everyday.
I have hundreds Indicators and a Lot Trading System, test - riset and use it.
Btw...No one Perfect. Trust me
Always looking the GREAT, never left GOOD Point...
  • #346,452
  • Sep 5, 2013 11:18am Sep 5, 2013 11:18am
Quoting TauTrader
{quote} Good day, sir But I do not trade with SL... I thought I got a good system, but now it has turned on me.... I'm so confused
Hello TauTrader ,
I didn't get any news from you since I sent you a PM. Hope everything is ok.

GU has to clear 5700 area before any significant drop as it may form a double Top .
At the moment we have 2 scenarios :
*keep ranging below5600 level
*break onto 5600 level and close H4 candle above it and we may see a better push up in the next hours

Trade carefully
Cheers...
Get Rich or Die Tryin
  • #346,453
  • Sep 5, 2013 11:24am Sep 5, 2013 11:24am
Quoting Tsar
{quote} Dear Tau, I've got experienced like you, before I sign in FF Forum. Not use Stop Loss. And got BIG LOSS @ US Market's after Collective Profit in 3 Days. After that's I hardest to Learn and Study in FX everyday. I have hundreds Indicators and a Lot Trading System, test - riset and use it. Btw...No one Perfect. Trust me
Dear Tsar,
in fact, using stop loss is little bit confusing since market behaviour is related to human nature reaction , so most of the time SL got wiped out although price would get to our target. I personally use a very tight SL near support and resistance levels [ between 5 and 10 pips] otherwise I put bigger SL in higher volatility if I am almost sure of my trade and if I could possibly afford the loss.

Cheers...
Get Rich or Die Tryin
  • #346,454
  • Sep 5, 2013 11:31am Sep 5, 2013 11:31am
Quoting hoom
{quote} Hello TauTrader , I didn't get any news from you since I sent you a PM. Hope everything is ok. GU has to clear 5700 area before any significant drop as it may form a double Top . At the moment we have 2 scenarios : *keep ranging below5600 level *break onto 5600 level and close H4 candle above it and we may see a better push up in the next hours Trade carefully Cheers...
good day to you, HOOM

I'm still thinking...

If my trade works out - i'll be in contact

Fair?

Regards to you
  • #346,455
  • Sep 5, 2013 11:34am Sep 5, 2013 11:34am
Quoting hoom
{quote} Dear Tsar, in fact, using stop loss is little bit confusing since market behaviour is related to human nature reaction , so most of the time SL got wiped out although price would get to our target. I personally use a very tight SL near support and resistance levels [ between 5 and 10 pips] otherwise I put bigger SL in higher volatility if I am almost sure of my trade and if I could possibly afford the loss. Cheers...
Hi hoom,

I knew it, Traders sometime wrong put where's SL

Just thinking SIMPLE... Basic Learn in FX is SUPPORT and RESISTANCE.
Put in Lower Support where you OP BUY and Put in Higher Resistance where you OP SELL. I like use 30 - 40 Pips SL.

If LATE to Triger, don't ever OP in FX. Need Think again the RISK.
Always Patient & control the Emotion. That's will make survive in Trading...
Always looking the GREAT, never left GOOD Point...
  • #346,456
  • Sep 5, 2013 11:46am Sep 5, 2013 11:46am
Quoting TauTrader
{quote} good day to you, HOOM I'm still thinking... If my trade works out - i'll be in contact Fair? Regards to you
Take your time , I have learned a lot from FF members since I joined in last month and I can be proud with my 5 months experience with FX.
Hope you make it as soon as possible. Trade well

Cheers...
Get Rich or Die Tryin
  • #346,457
  • Sep 5, 2013 11:51am Sep 5, 2013 11:51am
Quoting Tsar
{quote} Hi hoom, I knew it, Traders sometime wrong put where's SL Just thinking SIMPLE... Basic Learn in FX is SUPPORT and RESISTANCE. Put in Lower Support where you OP BUY and Put in Higher Resistance where you OP SELL. I like use 30 - 40 Pips SL. If LATE to Triger, don't ever OP in FX. Need Think again the RISK. Always Patient & control the Emotion. That's will make survive in Trading...
I fully agree with you and like you said patience is a virtue and I could tell that I survived enough to witness how hard is to trade nowadays.
PS: sometimes it took me 2 days or more to open a single trade although I see everybody jumping in and out in less than 24 hours ! that seems crazy to me.
In the other side, that's what keep me in green all the time with an appropriate R/R ratio
Get Rich or Die Tryin
  • #346,458
  • Sep 5, 2013 12:05pm Sep 5, 2013 12:05pm
Quoting hoom
{quote} I fully agree with you and like you said patience is a virtue and I could tell that I survived enough to witness how hard is to trade nowadays. PS: sometimes it took me 2 days or more to open a single trade although I see everybody jumping in and out in less than 24 hours ! that seems crazy to me. In the other side, that's what keep me in green all the time with an appropriate R/R ratio
They think simple ! Trading is a Game and make a profit quickly...
But a lot of factors that need to be learned and the experience as well. Money Management (MM) is One of the main factors.

You can learn from the FF Forum, got experienced from them.
Indeed... for Intraday Trade only 2 is BEST. Absolutely agree with you
Always looking the GREAT, never left GOOD Point...
  • #346,459
  • Sep 5, 2013 12:17pm Sep 5, 2013 12:17pm
Quoting Purple
I have updated my CABLE analysis for those who are interested here: http://www.forexfactory.com/showthre...78#post6942678
Worked out well... Done for the day.. Adios.
  • #346,460
  • Edited 1:27pm Sep 5, 2013 1:12pm | Edited 1:27pm
Quoting Tsar
{quote} Hi hoom, I knew it, Traders sometime wrong put where's SL Just thinking SIMPLE... Basic Learn in FX is SUPPORT and RESISTANCE. Put in Lower Support where you OP BUY and Put in Higher Resistance where you OP SELL. I like use 30 - 40 Pips SL. If LATE to Triger, don't ever OP in FX. Need Think again the RISK. Always Patient & control the Emotion. That's will make survive in Trading...
The chart below shows how I stubbornly chase after a losing trade after I deliberately abandon SL and then hedge by opening a trade of same size in the opposite direction, hoping the PA changes direction bouncing off the lower trend-line where I will close counter trade.

Risky and very messy at times.

Attached Image (click to enlarge)
Click to Enlarge Name: geppy.png Size: 27 KB
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