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Cable Update (GBPUSD)

  • #348,061
  • Oct 3, 2013 6:39am Oct 3, 2013 6:39am
Quoting JimmyC
Lunch money: short 1.62237 SL 1.624xx TP 1.618xx Impatient old person trade EDIT: +1
Ok off to lunch +13, have to scalp to close or I won't have time for coffee. G/L
  • #348,062
  • Oct 3, 2013 6:43am Oct 3, 2013 6:43am
cable should break either 1.6241 or 1.6172 today
  • #348,063
  • Oct 3, 2013 6:47am Oct 3, 2013 6:47am
Quoting USD-Bear
{quote} buying high, selling low ??????? These levels are no major breakouts imo.....
hmm very strange concept! Btw chart is not clear and trend lines drawn aren't that major!

sell at 1.6240 with SL at 1.6270 and buy at 1.6165 with SL at 1.6135 would make much more sense!
  • #348,064
  • Oct 3, 2013 6:53am Oct 3, 2013 6:53am
Quoting kumaramy
{quote} See the post of user 16Nov16. Buying zone in post# 348061 is above uppper trendline of the post Post# 348065 .
ic, watch out for those TL's though, playing ground for bastards pulling stops out with false breaks etc....
Personally I prefer the levels (were the same happens )
Don't be a hero. Don't have an ego. Always question yourself
  • #348,065
  • Oct 3, 2013 7:12am Oct 3, 2013 7:12am
Quoting fxmasterdxb
{quote} hmm very strange concept! Btw chart is not clear and trend lines drawn aren't that major! sell at 1.6240 with SL at 1.6270 and buy at 1.6165 with SL at 1.6135 would make much more sense!
I am considering the zone between buying zone and selling zone as consolidation zone. Your point is not wrong but as it is in consolidation zone I usually don't trade in consolidation. I just wait for some confirmations.
I don't know how much would you understand about my strategy but this is it :

Both yellow doji's are confirmation. And the term is Medium OR longer only.
This is example :
The SELLING HERE & BUYING HERE is actually the action after confirmation of rejection as doji.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 43 KB
-milkeyway
  • #348,066
  • Oct 3, 2013 7:13am Oct 3, 2013 7:13am
Quoting USD-Bear
at DPP USDOLLAR M15: {image}
2nd try @ DPP

USDOLLAR M15:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0031.png Size: 87 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #348,067
  • Oct 3, 2013 7:14am Oct 3, 2013 7:14am
Quoting InNeedOfHelp
why did Cable just drop?
i placed another sell
  • #348,068
  • Oct 3, 2013 7:18am Oct 3, 2013 7:18am
Quoting TauTrader
{quote} i placed another sell
Go Cape Town
  • #348,069
  • Oct 3, 2013 7:26am Oct 3, 2013 7:26am
Quoting JimmyC
{quote} Go Cape Town
Sir, J



This lady is going to take us places before giving up her cherry.

All the best to you
  • #348,070
  • Oct 3, 2013 7:32am Oct 3, 2013 7:32am
no movement et all...!
  • #348,071
  • Oct 3, 2013 7:39am Oct 3, 2013 7:39am
I think the next target is the area of 6280 - 6310 ..... Soon .
  • #348,072
  • Oct 3, 2013 7:40am Oct 3, 2013 7:40am
Quoting TauTrader
{quote} Sir, J This lady is going to take us places before giving up her cherry. All the best to you
lol.....

I agree Sir Tau, she is playing hard to get

But I want to ride this lady some more....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 34 KB
Click to Enlarge Name: gbpusdh11.png Size: 25 KB
Click to Enlarge Name: gbpusdm30.png Size: 33 KB
Come with me if you want to live....
  • #348,073
  • Oct 3, 2013 7:41am Oct 3, 2013 7:41am
Quoting maqboolpaas
no movement et all...!
Yaa.. its bad data for GBP and still its not falling and instead going up?? What the .. looks like 1.6250 is a brick wall.. havent broken past this area/zone for last two years now.
  • #348,074
  • Oct 3, 2013 7:56am Oct 3, 2013 7:56am
Quoting Purple
{quote} Yaa.. its bad data for GBP and still its not falling and instead going up?? What the .. looks like 1.6250 is a brick wall.. havent broken past this area/zone for last two years now.
What are your views for GBP Purple sir ?
-milkeyway
  • #348,075
  • Oct 3, 2013 7:57am Oct 3, 2013 7:57am
Quoting Ill-b-back
{quote} lol..... I agree Sir Tau, she is playing hard to get But I want to ride this lady some more.... {image} {image} {image}
Sir IBB

I do not want to add more sells. Enough.

We are in my sell zone for quite some time now - actually the most part of the past 3 weeks. But EUR/GBP has been the bugger. Let us thus see EU continue north to 1.3775 and I hope GU hangs around with not too much fuel in the ass. Then both down.

We thus wait..

regards to the family
  • #348,076
  • Oct 3, 2013 8:03am Oct 3, 2013 8:03am
Quoting kumaramy
{quote} I am considering the zone between buying zone and selling zone as consolidation zone. Your point is not wrong but as it is in consolidation zone I usually don't trade in consolidation. I just wait for some confirmations. I don't know how much would you understand about my strategy but this is it : Both yellow doji's are confirmation. And the term is Medium OR longer only. This is example : The SELLING HERE & BUYING HERE is actually the action after confirmation of rejection as doji. {image}
too funny man, as if you are talking chinese or explaining a complicated trading system! any newibi in the street would able to understand your method!

anyhow, your method is okay but the chances of missing the trade is very high! probably more than 60%! the reason is pretty simple, what makes you so sure that the broken sturture will be tested again? (i hope you are following me here )

one more thing, the trend line drawn in your chart been rejected twice or maximum three times on a daily chart which for me is no sort of confirmation! you need a trend line rejection minimum 4 times to confirm the realibility and the effectiveness of the trend line otherwise you will be drawing imagenry trend lines that you wish PA breaks!

at the end it is your money and your account, so please follow the method that pleases you more

all the best
  • #348,077
  • Oct 3, 2013 8:11am Oct 3, 2013 8:11am
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_1_godzina.png Size: 80 KB
  • #348,078
  • Oct 3, 2013 8:13am Oct 3, 2013 8:13am
Quoting fxmasterdxb
{quote} too funny man, as if you are talking chinese or explaining a complicated trading system! any newibi in the street would able to understand your method! anyhow, your method is okay but the chances of missing the trade is very high! probably more than 60%! the reason is pretty simple, what makes you so sure that the broken sturture will be tested again? (i hope you are following me here ) one more thing, the trend line drawn in your chart been rejected twice or maximum three times on a daily chart which for me is no sort of confirmation!...
check the attached chart for further explanation, the yellow trend line is been rejected 4 times so far on the 8 hours chart, once the next 8 hours candle is next to this trend line and breaks out and closes above it, i will not wait for a doji or even another test of same trend line to long, instead i will long with the begining of the new candle! i hope you can learn abit and improve your strategy in order to get more "confirmed trades".
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 310.gif Size: 22 KB
  • #348,079
  • Oct 3, 2013 8:16am Oct 3, 2013 8:16am
given the speed and momentum of the decline now...i would stand aside for any longs.
  • #348,080
  • Oct 3, 2013 8:16am Oct 3, 2013 8:16am
IF this support breaks, things get easier 1,616xx
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