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Cable Update (GBPUSD)

  • #348,221
  • Oct 5, 2013 4:59am Oct 5, 2013 4:59am
Quoting edindzeko
{quote} Great post. Could you elaborate on point #2? A 37% return on equity is impressive, but to achieve that with a 2% risk is over 15:1 risk/reward. Right? I only profit like 0.25% - 2% on trades tops...this week I got everything right and up 3.5% and closed all trades before weekend. Do I just need to be taking bigger positions?
I used a pyramid of small trades in, once they were at BE, covered by stops, I traded the rectangle on lower TF (and closed those trades) so in reality I risked .3% per trade and then covered. It's a personal strategy. Other people don't like this technique but for me, I can keep entry small, increase position, take profit and scale out again keeping risk small and letting some profit run.
Read up on pyramid techniques, don't have too many positions open at the same time

G/L
  • #348,222
  • Oct 5, 2013 5:23am Oct 5, 2013 5:23am
Hi C ,yea I guess im thinking bearish month but next year poss we could work break


Quoting claudia1
{quote} Don't normally trade currencies on more than 1 hour but took a look at monthly and here's my view. Think there is room for a lot of gain by the end of the year. Think will fall to support then boom all the way up again. My chart not as pretty as yours but it is 2 am lol! {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #348,223
  • Oct 5, 2013 5:46am Oct 5, 2013 5:46am
For once I was on the right side of trade & didnt get caught with any GBP longs ? Must have hurt those with longs..
Be the change that you want to change
  • #348,224
  • Oct 5, 2013 8:00am Oct 5, 2013 8:00am
Quoting forexalien
{quote} That will do it................. It still didn't break highs, it's just a reason for it to come down again............. PA was going there anyway {image} {image}
Posted Oct 2............
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 10_2_13 GU top 2 days ago.JPG Size: 167 KB
Click to Enlarge Name: 10_5_13 gu current.JPG Size: 264 KB
The More You Learn, The More You Earn.....
  • #348,225
  • Edited 11:01am Oct 5, 2013 10:24am | Edited 11:01am
ok..this is my view for cable , look like short term but!!!!there is some conflict yet cause it didnt close for now below the 200 sma..,

however here is my view,(usually i dont use on 4hrs chart cause i work with 15 min tf for my day trades job..)

enjoy.
Attached Image (click to enlarge)
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forgat something important..:ac and ao below zero with red confirmation to!!
when GOD brings you a challenge he also gives you the power to deal with it
  • #348,226
  • Oct 6, 2013 1:16am Oct 6, 2013 1:16am
Attached Image (click to enlarge)
Click to Enlarge Name: cable_013.png Size: 204 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #348,227
  • Oct 6, 2013 6:15am Oct 6, 2013 6:15am
Quoting Ivanqus
{quote} What do you suggest to enter on monday? I closed my position on friday at 1.6059.
@Ivan
If I made a recommendation it would be that the present impulse wave will form consolidation. If that consolidation shows a high probability setup (Technical patterns that have a +60% chance of moving in a particular direction) then that would be the entry time and point and direction. (forecasting market movement is not wise)

Locked in profits and being closed over the weekend is not a bad strategy...

G/L
  • #348,228
  • Oct 6, 2013 9:39am Oct 6, 2013 9:39am
Quoting JimmyC
{quote} @Ivan If I made a recommendation it would be that the present impulse wave will form consolidation. If that consolidation shows a high probability setup (Technical patterns that have a +60% chance of moving in a particular direction) then that would be the entry time and point and direction. (forecasting market movement is not wise) Locked in profits and being closed over the weekend is not a bad strategy... G/L
Thank you for answering me!
  • #348,229
  • Oct 6, 2013 1:00pm Oct 6, 2013 1:00pm
for Kusus
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_dzienny.png Size: 81 KB
  • #348,230
  • Oct 6, 2013 4:23pm Oct 6, 2013 4:23pm
.....Latest from Washington is that John Boehner (Speaker of House) continues to refuse to schedule a ' clean ' up or down vote for either the budget crisis / partial govt shutdown or the looming debt ceiling Oct 17th without ' significant ' democratic concessions on spending ....will this intransigence and brinksmanship continue ? Can the ' unthinkable ' really happen- particularly re the debt ceiling ? Seems the days of kicking this debt problem down the road by successive presidents/congresses may finally be coming home to roost ? I think it was Gore Vidal who said that '..America always does the right thing in the end...when it has exhausted all the other possibilities...' lol - Will he (or whoever it was that said that ) be right again ? and I guess it depends on your definition of 'the right thing' For me as a trader and particularly given my style of trading- no deal on the debt ceiling would be a good thing as it would likely inject huge volatility to the market - but I know that others in the 'real' world and indeed traders who are ' positioned' re a deal being done are rather hoping that a deal is done, and quickly.

G/L for the week ahead
ex member
  • #348,231
  • Oct 6, 2013 5:30pm Oct 6, 2013 5:30pm
Quoting forexalien
{quote} Posted Oct 2............ {image} {image} {image}
omg, bravoo
what do you think next? possible down or a pullback to .62xx again?
  • #348,232
  • Oct 6, 2013 8:35pm Oct 6, 2013 8:35pm
Quoting winterfell
{quote} omg, bravoo what do you think next? possible down or a pullback to .62xx again?
Down, don't know about today, but the week will be down after engulfing down week last week.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,233
  • Oct 6, 2013 11:21pm Oct 6, 2013 11:21pm
Hello GBP/US

Got a couple shorts that need clearing

This 160 level worries a bit

could sneak back up again
  • #348,234
  • Oct 7, 2013 12:37am Oct 7, 2013 12:37am
go for st scalp mode..target 20/50 pip down

GL all.
when GOD brings you a challenge he also gives you the power to deal with it
  • #348,235
  • Oct 7, 2013 1:03am Oct 7, 2013 1:03am
Quoting eliteincome
Hello GBP/US Got a couple shorts that need clearing This 160 level worries a bit could sneak back up again

If you are not worried you have no stake.Its good to worry.

I will post a nice little excerpt from "The Zurich Axioms"

The First Major Axiom:
ON RISK
Worry is not a sickness but a sign of health. If you are not worried, you are not
risking enough
In trading, you have to be defensive and aggressive at the same time
  • #348,236
  • Oct 7, 2013 1:16am Oct 7, 2013 1:16am
Hi Davit

Yeah just trying to start this GBP/US with good trading habits

Nice clean chart without any lemon trades that I need to carry around for days.

Reason for this is the YEN pairs are getting harder to read or work out.

So just need to clear out the YEN trades

Might take a few months:nerd:
  • #348,237
  • Oct 7, 2013 1:24am Oct 7, 2013 1:24am
Quoting eliteincome
Hi Davit Yeah just trying to start this GBP/US with good trading habits Nice clean chart without any lemon trades that I need to carry around for days. Reason for this is the YEN pairs are getting harder to read or work out. So just need to clear out the YEN trades Might take a few months:nerd:

GU should close 57 by weeks end.I am short from 62.We could see US dollar gaining more strength once gridlock in Washington clears up.
Good luck to you.
In trading, you have to be defensive and aggressive at the same time
  • #348,238
  • Oct 7, 2013 2:55am Oct 7, 2013 2:55am
watching GA 38.2 retrace possible short 7138 area
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.h4.png Size: 37 KB
In trading, you have to be defensive and aggressive at the same time
  • #348,239
  • Oct 7, 2013 3:24am Oct 7, 2013 3:24am
Quoting Davit
watching GA 38.2 retrace possible short 7138 area {image}
hi davit. could you please start up a GA thread thanks. titled GBP/AUD. im sure a few traders are covering it. deserves a standalone thread. 150pips daily movement average range. its movement is insane and should be covered.
  • #348,240
  • Edited 3:38am Oct 7, 2013 3:26am | Edited 3:38am
G/M,

My w/e analysis refers. Asian session mixed- small opening gap up from Friday close an upside rally then a pullback to the downside then another bounce/rally to the upside off a now 1hr fractal HL which early London continued with and price now challenges the 38.2% opf Friday's 6177-6006 move. 1hr below shows potential upside obstacles.

Will the bears sell this rallly off Friday's 6006 low ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 130 KB
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