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Cable Update (GBPUSD)

  • #353,201
  • Nov 14, 2013 7:58am Nov 14, 2013 7:58am
Quoting Gofer Pips
{quote} My limit is waiting @ 1.6200. How you doing buddy? I been so busy lately...this is first time in months I've had time to post and thought it appropriate to quote my Bud!
Well as you can see, the markets are not cooperating with my plan for world financial dominance.
I may have to call Dr. Evil for some tips.
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #353,202
  • Nov 14, 2013 8:03am Nov 14, 2013 8:03am
Quoting PipTrapper
{quote} Well as you can see, the markets are not cooperating with my plan for world financial dominance. I may have to call Dr. Evil for some tips. {image}
It's so cold here, I had to bring in the brass monkeys!
  • #353,203
  • Nov 14, 2013 8:04am Nov 14, 2013 8:04am
Quoting Gofer Pips
{quote} It's so cold here, I had to bring in the brass monkeys!
Thanks. One more dollar for Dr. Evil.
Those who say it cannot be done should not interrupt those who are doing it
  • #353,204
  • Nov 14, 2013 8:19am Nov 14, 2013 8:19am
Navin


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I need to finish something i started
  • #353,205
  • Nov 14, 2013 8:23am Nov 14, 2013 8:23am
Looks like 1.6200 is very possible . But may be after visiting 1.56xx-1.57xx level.
Never test the depth of water with both feet.
  • #353,206
  • Nov 14, 2013 8:32am Nov 14, 2013 8:32am
Quoting fxlover11
But may be after visiting 1.56xx-1.57xx level.
I'd like to remain hopeful for that scenario, but can't see it for now, gu and gj are causing me some grief
  • #353,207
  • Nov 14, 2013 8:47am Nov 14, 2013 8:47am
Quoting bigwal
Navin {image}
Classic 123 reversal. Yep, that was a bullish signal, but more than 70% of 123 patterns don't even do a 100% extension, let alone lead into a higher time frame rally. Therefore, for a position / swing trader of higher time frame patterns, it's no of much use unless you're willing to take a shot at it... and therein in the problem. The majority of swing and position traders are such because they don't want to be bothered with trial and error trades in lower time frames.

That being said, I agree that large moves always start in lower time frames and is a great strategy for someone who wants to incorporate it into their trading strategy from a strictly technical perspective. However, if a trader has the knack of setting up great swing trades in higher time frames without ever looking at the M5 chart, then why would they bother?
Those who say it cannot be done should not interrupt those who are doing it
  • #353,208
  • Nov 14, 2013 8:50am Nov 14, 2013 8:50am
Quoting Tom_d
{quote} I'd like to remain hopeful for that scenario, but can't see it for now, gu and gj are causing me some grief
There are loads of high risk events on the calendar. The CBs are pretty much making minced meat out of all tradeable setups. So my advice is to relax, reduce your exposure when/where you can and wait for the shit show to be over.
Those who say it cannot be done should not interrupt those who are doing it
  • #353,209
  • Nov 14, 2013 8:54am Nov 14, 2013 8:54am
Quoting PipTrapper
{quote} There are loads of high risk events on the calendar. The CBs are pretty much making minced meat out of all tradeable setups. So my advice is to relax, reduce your exposure when/where you can and wait for the shit show to be over.
Yep, that's plan i'm relatively safe till 1.63 gu and 1.63 gj
  • #353,210
  • Nov 14, 2013 9:23am Nov 14, 2013 9:23am
Piptrader, you are not alone...
Gu still bearish... For me, it's the best moment to short. SL 6147 /6155 TP 5835 then trailing
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  • #353,211
  • Nov 14, 2013 9:27am Nov 14, 2013 9:27am
up and down and up..
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when GOD brings you a challenge he also gives you the power to deal with it
  • #353,212
  • Nov 14, 2013 9:39am Nov 14, 2013 9:39am
This is all I have time for presently......but here is chart
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  • #353,213
  • Nov 14, 2013 10:08am Nov 14, 2013 10:08am
count update, maybe A in now (or possibly 1)
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Don't have an ego. Always question yourself and your ability.
  • #353,214
  • Nov 14, 2013 10:24am Nov 14, 2013 10:24am
I bought in again this morning at 6075. If it drop down below that I'll buy a bit more, but if it keeps dropping I'll sell at a loss.

If it keeps going up, I'll buy more after we level off and take a small dip.
  • #353,215
  • Nov 14, 2013 10:53am Nov 14, 2013 10:53am
see how the daily closes...not exactly headlines news a follow through higher after yesterday's daily bullish engulfing candle..doh !.....er higher probability or what ?......cue all the manipulator/conspiracy theorists/oh so clever bears whose analysis couldn't possibly be wrong....still game not over yet to be fair....but certainly puts a dent in the bearish scenario they had convinced themselves of....will be interesting to see how weekly closes - could well be a bullish hammer ? 4Hr is below.


There was a discussion here earlier about trading what you see not what you think and the logical extension of that is being able to let go of a view if price action tells us we are wrong in it...doubtless though there will be some position bears still holding that bearish view and that is fair enough but on an intraday basis it is even more important to be flexible.

By the way I am neither a long term bull or bear - I don't have a view - I trade short term and try to trade what I see....learning (hopefully as I go.)

Best Wishes
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it's all gone a bit........
  • #353,216
  • Nov 14, 2013 11:02am Nov 14, 2013 11:02am
i fail to understand why people jumping so much

relax

http://www.mql5.com/en/charts/103826...nancial?bind=1
The Phoenix Trader....
  • #353,217
  • Nov 14, 2013 11:02am Nov 14, 2013 11:02am
Quoting petetong
see how the daily closes...not exactly headlines news a follow through higher after yesterday's daily bullish engulfing candle..doh !.....er higher probability or what ?......cue all the manipulator/conspiracy theorists/oh so clever bears whose analysis couldn't possibly be wrong....still game not over yet to be fair....but certainly puts a dent in the bearish scenario they had convinced themselves of....will be interesting to see how weekly closes - could well be a bullish hammer ? 4Hr is below. Best Wishes {image}
petetong, you're not wrong

These last couple of days have made bullish prints on the chart, however 1.625 is very strong resistance. I think we might bounce around 1.585 and 1.625 for a while longer...
  • #353,218
  • Nov 14, 2013 12:20pm Nov 14, 2013 12:20pm
Good day to you,

Strangely enough - I expected this - but chickened. In some way - I would like to see price cover 1.6150/51 first, do it's thing up there and then choose direction over time to come and cover all the bottom numbers.

Will have wait and see.

All the best
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  • #353,219
  • Nov 14, 2013 12:30pm Nov 14, 2013 12:30pm
Quoting TauTrader
Good day to you, Strangely enough - I expected this - but chickened. In some way - I would like to see price cover 1.6150/51 first, do it's thing up there and then choose direction over time to come and cover all the bottom numbers. Will have wait and see. All the best {image}

Your stop must be wide? I guess?
  • #353,220
  • Nov 14, 2013 12:33pm Nov 14, 2013 12:33pm
Quoting fxbreeze
{quote} Your stop must be wide? I guess?
Good day to you,sir

percentage of account - willing to risk 5%

Regards
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