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Cable Update (GBPUSD)

  • #352,941
  • Nov 13, 2013 1:30am Nov 13, 2013 1:30am
Quoting Davit
{quote} Baggi You must make a decision bias if you will and stick to it. I decided long ego that I am bearish on Cable. This means my only decisions are on short side no matter what market does. Even when I am in Red I can trade around my positions on Every drop and bounce re-enter . Even when I have red orders I am still making money while waiting to close the remaining red trades. This is a technique not suitable for newbies.You must know what you are doing.
Cant see any clear road or the decision making...
  • #352,942
  • Nov 13, 2013 1:33am Nov 13, 2013 1:33am
Quoting Davit
{quote} Baggi You must make a decision bias if you will and stick to it. I decided long ego that I am bearish on Cable. This means my only decisions are on short side no matter what market does. Even when I am in Red I can trade around my positions on Every drop and bounce re-enter . Even when I have red orders I am still making money while waiting to close the remaining red trades. This is a technique not suitable for newbies.You must know what you are doing.

stick to one direction, do not flip very often. the market will chop one to death if one flips frequently. Close part of position when market goes your way, reload back later when market goes against you (I call it scale in and scale out).
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #352,943
  • Nov 13, 2013 1:39am Nov 13, 2013 1:39am
Quoting ffleo
{quote} stick to one direction, do not flip very often. the market will chop one to death if one flips frequently. Close part of position when market goes your way, reload back later when market goes against you (I call it scale in and scale out).

To elaborate how to make decision bias is to look at channel.80% forex is not trending.Instead price is confined into a range.
Cable is at upper channel zone hence probability is on Bearish side or greater mileage is on Down side.
Lets take this fundamentally one step further.
GB greatest trading partner is Euro Zone which is not expected to grow much until 2017. GB can't "recover" on its own while Euro Zone is in stagnate levels.
Two economies are interlocked on multiple levels.This is why I don't buy Carney's BS speeches.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.weekly.png Size: 56 KB
In trading, you have to be defensive and aggressive at the same time
  • #352,944
  • Nov 13, 2013 1:40am Nov 13, 2013 1:40am
Quoting Davit
{quote} Jimmy I anticipate sharp Up move then full force drop.I am positioning my limits for triggering
Excellent!
  • #352,945
  • Nov 13, 2013 1:52am Nov 13, 2013 1:52am
Quoting KMeng
{quote} Cant see any clear road or the decision making...

If its not clear then you must NOT be in the Market.Not trading is strategy as well.Timing is everything.
I am an Ex Sports Gambler and one thing I learned in sports gambling is not all games were worth betting.
Principle is same in trading.
In trading, you have to be defensive and aggressive at the same time
  • #352,946
  • Nov 13, 2013 1:52am Nov 13, 2013 1:52am
Quoting Davit
{quote} Jimmy I anticipate sharp Up move then full force drop.I am positioning my limits for triggering
this reminds me to leave limit sell orders on my platform while I sleep. Now time to sleep.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #352,947
  • Nov 13, 2013 2:14am Nov 13, 2013 2:14am
62585
  • #352,948
  • Nov 13, 2013 2:23am Nov 13, 2013 2:23am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1 ahhh.png Size: 46 KB
not euphoria follower
  • #352,949
  • Nov 13, 2013 2:33am Nov 13, 2013 2:33am
description = trend



Quoting JimmyC
{quote} Hi Baggi, In 2:30 minutes Mark Carney will be impressing the market with his policy an hour after the data release, this is severe event risk for Cable Traders in tight positions. Keep your stops tight. I've noted Inside Bar behaviour with downside breakouts breaking of supports and resistances holding. I cannot predict the direction Carney will take the market but I do believe that there is a greater probability of it moving to the downside. I wish you good luck whatever your decision. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,950
  • Nov 13, 2013 2:34am Nov 13, 2013 2:34am
what's that the wombat pattern


Quoting iqyu5an
{image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,951
  • Nov 13, 2013 2:37am Nov 13, 2013 2:37am


Quoting Tiyaga
cable long target 6033. geppy long 159.93x
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,952
  • Nov 13, 2013 2:38am Nov 13, 2013 2:38am


Quoting Bones
what's that the wombat pattern {quote}
not euphoria follower
  • #352,953
  • Nov 13, 2013 2:39am Nov 13, 2013 2:39am
lol good luck I ,im in other camp


Quoting iqyu5an
{quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,954
  • Nov 13, 2013 2:42am Nov 13, 2013 2:42am
Quoting Bones
description = trend {quote}
Indeed Sir
  • #352,955
  • Nov 13, 2013 2:58am Nov 13, 2013 2:58am
GBPUSD fighting 1.5900 in the attempt to validate double top pattern - look at pictures here: http://eurusd-price-action.blogspot....day-setup.html
Price Action + KISS + PIE = Forex-Entourage
  • #352,956
  • Nov 13, 2013 3:08am Nov 13, 2013 3:08am
Quoting Davit
{quote} If its not clear then you must NOT be in the Market.Not trading is strategy as well.Timing is everything. I am an Ex Sports Gambler and one thing I learned in sports gambling is not all games were worth betting. Principle is same in trading.
spot on.
  • #352,957
  • Nov 13, 2013 3:08am Nov 13, 2013 3:08am


good luck for you too mate..

bull and bear : friend .................
Quoting Bones
lol good luck I ,im in other camp {quote}
not euphoria follower
  • #352,958
  • Nov 13, 2013 3:21am Nov 13, 2013 3:21am
I'm anticipating a rally from here, despite eco figures, up to perhaps a high of 16,017, before the next leg down, though I don't want to speculate how low we'll go at this juncture. As always, could be wrong!
  • #352,959
  • Nov 13, 2013 3:25am Nov 13, 2013 3:25am
5mins
  • #352,960
  • Nov 13, 2013 3:27am Nov 13, 2013 3:27am
stress time
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