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Cable Update (GBPUSD)

  • #348,561
  • Oct 9, 2013 1:16pm Oct 9, 2013 1:16pm
Quoting KillerWhale
{quote} Tomorrow London open I will add shorts.
It's important to keep your shorts on, mine still are
  • #348,562
  • Oct 9, 2013 1:20pm Oct 9, 2013 1:20pm
Thurs 10th if numbers come out negative or neutral we could see big moves south.
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #348,563
  • Oct 9, 2013 1:38pm Oct 9, 2013 1:38pm
Quoting fxmasterdxb
{quote} well that's possible but i see a big possibility of restesting the 1.5950 before consolidating or continuing the move down
touched 1.5950, let's see now! although according to my chart i see a little further retracement up to 1.6, ill staying on the side now and waiting for the hour close to decide
  • #348,564
  • Oct 9, 2013 2:51pm Oct 9, 2013 2:51pm
Quoting JimmyC
{quote} It's important to keep your shorts on, mine still are
I reached target while I was sleeping, 120 pips with leverage 1:10
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  • #348,565
  • Oct 9, 2013 3:06pm Oct 9, 2013 3:06pm
Added short again here at 1.5955, i think we will break the low soon
  • #348,566
  • Oct 9, 2013 3:09pm Oct 9, 2013 3:09pm
Quoting KillerWhale
{quote} I reached target while I was sleeping, 120 pips with leverage 1:10
Nice!

I closed shorts too... took a small long and will now revert to my trading plan.... But need to wait for the break of the symmetrical triangle to make a final decision on the North or South

Well done and

G/L
  • #348,567
  • Edited 3:20pm Oct 9, 2013 3:16pm | Edited 3:20pm
Quoting edindzeko
Added short again here at 1.5955, i think we will break the low soon
@ edindzeko

Note two hammers on the 4H view?

  1. Your R:R here is a bit of a worry
  2. Check your % a/c risk
  3. What were your entry rules here?
  4. You hoping or trading?
  5. This looks more like a swing low area.... (if you'd bought it would make more sense) ...

Not telling you how to manage your trade, just not sure this is the best place or time to short (there is some room above your entry)

I need to sleep,

be back tomorrow

G/L

  • #348,568
  • Oct 9, 2013 3:22pm Oct 9, 2013 3:22pm
if we get a daily close above 1.5950 i will look for opportunity to long!
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  • #348,569
  • Oct 9, 2013 3:24pm Oct 9, 2013 3:24pm
Quoting JimmyC
{quote} @ edindzeko Note two hammers on the 4H view? Your R:R here is a bit of a worry Check your % a/c risk What we're your entry rules here? You hoping or trading? This looks more like a swing low area.... (if you'd bought it would make more sense) ... Not telling you how to manage your trade, just not sure this is the best place or time to short (there is some room above your entry) I need to sleep, be back tomorrow G/L
Jimmy I appreciate it the view

My short-term target is 5870 and then 5700 in extension

Entry rules are top secret

I am trading, im still bullish USD from these areas. I closed my UJ longs on the nice FOMC spike and now im waiting at 97.10 to buy long again. for this reason maybe I have entered too soon on cable again and should have waited for possibly 1.5980 area but that is ok with me.

Sure a long would have been nice off the lows but if I was long from the low I would cut it here anyway, thats just my opnion

look forward to chatting and trading more, thanks for the questions
  • #348,570
  • Oct 9, 2013 3:26pm Oct 9, 2013 3:26pm
Quoting edindzeko
{quote} Jimmy I appreciate it the view My short-term target is 5870 and then 5700 in extension Entry rules are top secret I am trading, im still bullish USD from these areas. I closed my UJ longs on the nice FOMC spike and now im waiting at 97.10 to buy long again. for this reason maybe I have entered too soon on cable again and should have waited for possibly 1.5980 area but that is ok with me. Sure a long would have been nice off the lows but if I was long from the low I would cut it here anyway, thats just my opnion look forward to chatting...
like the spirit and the confidence keep it up mate
  • #348,571
  • Oct 9, 2013 3:28pm Oct 9, 2013 3:28pm
Quoting edindzeko
{quote} Jimmy I appreciate it the view My short-term target is 5870 and then 5700 in extension Entry rules are top secret I am trading, im still bullish USD from these areas. I closed my UJ longs on the nice FOMC spike and now im waiting at 97.10 to buy long again. for this reason maybe I have entered too soon on cable again and should have waited for possibly 1.5980 area but that is ok with me. Sure a long would have been nice off the lows but if I was long from the low I would cut it here anyway, thats just my opnion look forward to chatting...
Cool! as long as you're at peace, I'm good.

Night
  • #348,572
  • Oct 9, 2013 3:43pm Oct 9, 2013 3:43pm
Quoting fxmasterdxb
{quote} like the spirit and the confidence keep it up mate
Thanks man. I see your view is also valid but I can't be bullish up here
  • #348,573
  • Oct 9, 2013 3:47pm Oct 9, 2013 3:47pm
Quoting JimmyC
{quote} Nice! I closed shorts too... took a small long and will now revert to my trading plan.... But need to wait for the break of the symmetrical triangle to make a final decision on the North or South Well done and G/L
That decision was made about 12 hours ago when it broke through 1.5995 support now resistance.
I'm already building shorts.
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  • #348,574
  • Oct 9, 2013 3:49pm Oct 9, 2013 3:49pm
Quoting fxmasterdxb
if we get a daily close above 1.5950 i will look for opportunity to long! {image}
That's worse than dumb.
1.5995 is resistance.
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  • #348,575
  • Oct 9, 2013 3:56pm Oct 9, 2013 3:56pm
Quoting KillerWhale
{quote} That's worse than dumb. 1.5995 is resistance.
well if you are short that does not mean anyone else long is dumb! anyway, yes 1.6 is a resistance but tell me one thing, resistance and support are important levels to be watched but does this mean there are no chances of it getting breached?

i trade with a certain plan which has been very successful (80% successful trades), so wether you agree or disagree i will keep always following my plan only
  • #348,576
  • Oct 9, 2013 4:38pm Oct 9, 2013 4:38pm
Quoting KillerWhale
{quote} Congratulations, and for me too, waking up and see all of my 17 entrees taking profit at 1.5960 is great. I was at -2% NAV yesterday, now I'm at 9.1% NAV profit.

good stuff buddy!!
  • #348,577
  • Oct 9, 2013 4:40pm Oct 9, 2013 4:40pm
Quoting fxmasterdxb
{quote} well if you are short that does not mean anyone else long is dumb! anyway, yes 1.6 is a resistance but tell me one thing, resistance and support are important levels to be watched but does this mean there are no chances of it getting breached? i trade with a certain plan which has been very successful (80% successful trades), so wether you agree or disagree i will keep always following my plan only
Sorry, I don't have much experience, I only trade for more than 8 years now.
But even if long is the right direction, a wise trader should first see the break of resistance.
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  • #348,578
  • Oct 9, 2013 4:41pm Oct 9, 2013 4:41pm
Quoting nAVIN2007
{quote} good stuff buddy!!
Thx, you must be happy too. What is your target?
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  • #348,579
  • Oct 9, 2013 4:50pm Oct 9, 2013 4:50pm
Quoting KillerWhale
{quote} Thx, you must be happy too. What is your target?

i have a long way to go ..hopefully tomorrow is a down day..
im looking for below 1.53 at least
  • #348,580
  • Oct 9, 2013 4:55pm Oct 9, 2013 4:55pm
Quoting nAVIN2007
{quote} i have a long way to go ..hopefully tomorrow is a down day.. im looking for below 1.53 at least
Well, we know that down goes a lot faster than up. I guess that's gravity at work.

My next target is 1.5760
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