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Cable Update (GBPUSD)

  • #352,481
  • Nov 8, 2013 2:31pm Nov 8, 2013 2:31pm
Quoting Baggi
{quote} I sold already. Went with your strategy, sorta. Bought at 5979, bought again at 6080 and sold at 6100 last night before bed. Didn't want to be in still during NFP.

Its smart not to trade during major news.You never know how that unfolds.
I am beyond that.I kind of developed hard skin tolerance.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #352,482
  • Nov 8, 2013 2:48pm Nov 8, 2013 2:48pm
the thing is not moving much down because still there is the rectangle supporting price
as you can see the path is almost completed now...
but watch out... there's no more the upper rectangle to provide resistance

jokes a part, have a great weekend everyone!

time to relax
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #352,483
  • Nov 8, 2013 3:41pm Nov 8, 2013 3:41pm
COT charts for Cable (1 year of daily candles)
Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #352,484
  • Nov 8, 2013 4:24pm Nov 8, 2013 4:24pm
have a good weekend too ,no need for box when we have price



Quoting _BBKing_
the thing is not moving much down because still there is the rectangle supporting price as you can see the path is almost completed now... but watch out... there's no more the upper rectangle to provide resistance jokes a part, have a great weekend everyone! time to relax {image}
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,485
  • Nov 8, 2013 4:36pm Nov 8, 2013 4:36pm
don't believe ? check $
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,486
  • Nov 8, 2013 4:40pm Nov 8, 2013 4:40pm
not closed?
baloney
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,487
  • Nov 8, 2013 4:53pm Nov 8, 2013 4:53pm
Quoting Bones
have a good weekend too ,no need for box when we have price {quote} {image}
well done buddy

excellent trading

im thinking 1.59 will go ..dollar should get stronger
Attached Image (click to enlarge)
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  • #352,488
  • Nov 8, 2013 6:06pm Nov 8, 2013 6:06pm
Quoting nAVIN2007
{quote} well done buddy excellent trading im thinking 1.59 will go ..dollar should get stronger {image}
1.59 ... for TP ? or .. 1.59 for closing position at break even point mate ?

keep safe..and smile ...as always both bull and bear give green pips...

hv a great weekend.

salam
not euphoria follower
  • #352,489
  • Nov 8, 2013 7:08pm Nov 8, 2013 7:08pm
Quoting Bones
not wanting to sound rude but you have over confidence for your experience {quote}
It's not having over confidence it is knowing the business
About the gold, it was definitely bullish but the big boys wanted to stop out people and start the long with lower prices , so they released a fake data,and I got stopped out, nobody can do anything about it, sometimes shit happens, this is the nature of forex.
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  • #352,490
  • Nov 8, 2013 7:17pm Nov 8, 2013 7:17pm
If you can emulate salt water crocodile then you are way up above lot of traders.
This is no a joke.I read plenty of books on trading and none came close to this article.
Master your patience and develop discipline and become rich successful trader.That's it.Can you wait a whole week for right set up?How about a month?
If you think you must be scalping 10hrs a day to make money then I urge you to think outside the box.

The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.
Jesse Livermore

They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.
Jesse Livermore

"right side means right timing."
In trading, you have to be defensive and aggressive at the same time
  • #352,491
  • Nov 8, 2013 8:03pm Nov 8, 2013 8:03pm
Morning Gents,

Anyone else hoping for a break below 159 last night, or was I asking too much?

Best Regards
  • #352,492
  • Nov 8, 2013 8:06pm Nov 8, 2013 8:06pm
First trade of the next week is allready served.This is why I like the friday nights.
Attached Image (click to enlarge)
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  • #352,493
  • Nov 9, 2013 12:11am Nov 9, 2013 12:11am
  • #352,494
  • Nov 9, 2013 12:13am Nov 9, 2013 12:13am
Any ideas why the system long in 1.6090 & hit my SL 1.6080 automatically with the same time stamp & it did not goes to 1.6090 for my buy stop. Think is my broker system bugs..
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  • #352,495
  • Nov 9, 2013 12:35am Nov 9, 2013 12:35am
Quoting tohalan
Any ideas why the system long in 1.6090 & hit my SL 1.6080 automatically with the same time stamp & it did not goes to 1.6090 for my buy stop. Think is my broker system bugs.. {image}
Often brokers spike prices that don't even show on the charts.Setting 10pip SL is basically 100% guaranteed to be hit.
One way is to reduce your position for wider SL to overcome this.Often price fluctuates even if you have correct direction.You must allow space for trade to breed and reach its desired TP
Regards
In trading, you have to be defensive and aggressive at the same time
  • #352,496
  • Nov 9, 2013 1:38am Nov 9, 2013 1:38am
Oic, thanks for the advice.
Means if the 30 min candle for the time before & after did not indicate & show a high of 1.6087 - 1.6090, we will still need to accept it did hit 1.6090.
Happy trading..
  • #352,497
  • Nov 9, 2013 2:04am Nov 9, 2013 2:04am
Never really post on this site, but this is one solid trade as for so many more. My chart is of the GBPUSD. From this past weeks close, we received one of the most powerful signals in the market which is a Topping Tail providing us with a 2nd week of realization that the USD is still in FULL Control of this pair and many more. Since we are officially back below the 8-MA, then we can expect to play one of the most successful trading strategies which is the famous "Cone Trade." The completing of a move from the 8-MA to the 20-MA and possibly even lower. This pair is expected to go drastically low, but the first and for sure target would be to the 38.2 Fib Level providing us a target in the area of the Weekly 200-MA which can POSSIBLY be used as Support, or the 20-MA which can also be used as Support completing the Cone Trade. Currently about 300-pips available on this trade. Find a solid short entry on the 4-Hour if not already in the trade and play it South. This right here is going to be a GOOOOOD ol Ride!!!

See you at the TOP

Attached Image (click to enlarge)
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  • #352,498
  • Nov 9, 2013 2:19am Nov 9, 2013 2:19am
Quoting Davit
If you can emulate salt water crocodile then you are way up above lot of traders. This is no a joke.I read plenty of books on trading and none came close to this article. Master your patience and develop discipline and become rich successful trader.That's it.Can you wait a whole week for right set up?How about a month? If you think you must be scalping 10hrs a day to make money then I urge you to think outside the box. The desire for...

Everyone trading (or trying to) should know this!
But what i actually see, mainly in forex but i would say in every market, is that there's a wrong school teaching to over-trade!
By school i mean all advertisements around the web done by some brkers, but also i mean the industry it-self is inclined to produce new people able only to just pay!!
This is sad indeed.
Some people say that this is the way how it works... 'only 5% traders is profitable' they say, 'there is an hidden hand moving market against retailers' they say, 'learn how to be a professional trader in 10minutes, free ebook here etc..' they say, and shits like this

A trader must learn to really admit him/her-self that every trade is the result of a complex decision (which could be a right or a wrong one) and to watch things not only from 1 single point of view, but from many different points of view simultaneously!
Most of people acts in markets like they do in their lifes
90% of traders use TA, indicators and prediction
  • #352,499
  • Nov 9, 2013 2:45am Nov 9, 2013 2:45am
ok nice results as long as you don't show a raft of losses behind ,anyway gold was clear short ,aud also ,
$ I think was harder than I expected ,but I do know market is cruel and full of false , even tho sometimes I don't show in posts
you think it wasn't in the charts ,and that still your right as a professional ,and news changed thats up to you

Quoting okanemici
{quote} It's not having over confidence it is knowing the business About the gold, it was definitely bullish but the big boys wanted to stop out people and start the long with lower prices , so they released a fake data,and I got stopped out, nobody can do anything about it, sometimes shit happens, this is the nature of forex. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,500
  • Nov 9, 2013 2:53am Nov 9, 2013 2:53am
btw its you that kept challenging me
btw you lost on all counts
lol


Quoting okanemici
{quote} This is where I short this usdlfx !!! {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
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