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Cable Update (GBPUSD)

  • #355,761
  • Dec 10, 2013 3:24am Dec 10, 2013 3:24am
Quoting fxtyrant
{quote} look. if its gets to ~1.6350 and the conditions remain bullish on H4, i am longing this bitch out.

What's throwing me off is all other GBP pairs are not making new highs.

Edit: N/m GBP/JPY doesn't count lmao
  • #355,762
  • Dec 10, 2013 3:25am Dec 10, 2013 3:25am
Quoting Trader88q
starting from 5855 on a daily chart there was no any normal correction. just without correction almost straight line to 6469.
Do you trade on a D1(TF) ?
  • #355,763
  • Dec 10, 2013 3:26am Dec 10, 2013 3:26am
Quoting Trader88q
starting from 5855 on a daily chart there was no any normal correction. just without correction almost straight line to 6469.
i was long from 1.48 to 1.59 area and then i let go of the long looking for a dip to hold long again but didnt get the opportunity..this is trading for u..a bird in hand is better than 2 in a bush (the hedge)
  • #355,764
  • Dec 10, 2013 3:29am Dec 10, 2013 3:29am
its funny how u can hold a short position on gu n yet it keeps rallying, and then u close your short positions. n then shortly gu begins to drop, may be slowly, but by the end of d day it wud have dropped say towards 1.6350, and then u ask urself why u closed your shorts. i hope it doesnt happen to me, but i have a feeling if i switch to long, gu may just begin its drop. i had a gu long yesterday n just had the opportunity to close at 1.6422.
  • #355,765
  • Dec 10, 2013 3:29am Dec 10, 2013 3:29am
Quoting fxtyrant
{quote} thats why i never quite agree with the "Pros" about how they see the big picture on bigger time frame... i mean okay i get it... 5 minute charts provide the moves that excites adrenaline junkies for only... pfft 20 or so pips after thousands of candles with a 5 pip range... for me, i look for a time frame where i get to trade the bigger picture, but not too big, and be able to make about 50-100 pips on the EURUSD or GBPUSD trades... H4 does it well for me. Daily even better since it filters out the noise makes by NFP..... for someone like...
I agree! Look to the H1 (H4) and trading on a M5 M15. And trading will be easy
  • #355,766
  • Dec 10, 2013 3:36am Dec 10, 2013 3:36am
Quoting mamalujo
its funny how u can hold a short position on gu n yet it keeps rallying, and then u close your short positions. n then shortly gu begins to drop, may be slowly, but by the end of d day it wud have dropped say towards 1.6350, and then u ask urself why u closed your shorts. i hope it doesnt happen to me, but i have a feeling if i switch to long, gu may just begin its drop. i had a gu long yesterday n just had the opportunity to close at 1.6422.
what happens is u focus on the opposite to what u do and it become amplified..when i first started trading id buy and it would fall FAST i was simply stunned almost like a shock..i was just paralyzed

mind games bro!!..i absolutely feel like if i enter 1 lot long this thing will tank
  • #355,767
  • Dec 10, 2013 3:43am Dec 10, 2013 3:43am
Quoting nAVIN2007
{quote} we are position trader bro..this damn thing has broken the low the yearly chart then broken the high it simply is something we dont see often..it rise from 1.48 1k pips without a retrace of any substance..i have had the worse trade performance i ever had..and still the mofo is rising..
same, has been covering some of losses scalping short with some tight sls, hope ure no risking too much money in every trade.
  • #355,768
  • Dec 10, 2013 3:47am Dec 10, 2013 3:47am
Quoting acidguy
{quote} same, has been covering some of losses scalping short with some tight sls, hope ure no risking too much money in every trade.

its getting a bit deep..just waiting for a retrace then i might have to take a hit
  • #355,769
  • Dec 10, 2013 3:51am Dec 10, 2013 3:51am
Quoting nAVIN2007
{quote} what happens is u focus on the opposite to what u do and it become amplified..when i first started trading id buy and it would fall FAST i was simply stunned almost like a shock..i was just paralyzed mind games bro!!..i absolutely feel like if i enter 1 lot long this thing will tank

LoL, you just brought back some good memories! I think everyone has to go through it. My first account went belly up because I refused to close the damn trade. I got a margin call after 450+ pips and not 20 pips later the market moved in my direction and went up 300 more.

GBP/AUD is worth taking a look at.
  • #355,770
  • Dec 10, 2013 3:57am Dec 10, 2013 3:57am
Quoting NJaNeer
{quote} LoL, you just brought back some good memories! I think everyone has to go through it. My first account went belly up because I refused to close the damn trade. I got a margin call after 450+ pips and not 20 pips later the market moved in my direction and went up 300 more.

thats the killer taking the hit and then it drops or rises to where u want it to go..market is a fruitcake i personally think it is rigged..in the sense that computers, bots whatever work out where most stop are and trade towards it..if i see any light at the end of this sewer i might try the same
  • #355,771
  • Dec 10, 2013 4:04am Dec 10, 2013 4:04am
Quoting Crazy-Trader
{quote} Look at this chart and see how Market bounced from Moving average. I'm sure you use Moving Average Smothed 21... Good job.
not really it is my own developed average, but in these times almost shows the same!
Anything is math!
  • #355,772
  • Dec 10, 2013 4:13am Dec 10, 2013 4:13am
Quoting nAVIN2007
{quote} thats the killer taking the hit and then it drops or rises to where u want it to go..market is a fruitcake i personally think it is rigged..in the sense that computers, bots whatever work out where most stop are and trade towards it..if i see any light at the end of this sewer i might try the same

One week I want to try trading from Oanda historical position ratios. Anything with 70% of traders, trade the opposite and see how I do just for a .
  • #355,773
  • Dec 10, 2013 4:15am Dec 10, 2013 4:15am
Quoting veer2010
{quote} forget about charts.. London desk is going to short cable starting from today.... they are the ones behind recent cable move up.. so they are shorting this time for month end fix..
london is always behind cable move
  • #355,774
  • Dec 10, 2013 4:16am Dec 10, 2013 4:16am
be cation long or short and wait for trend to be confirm, good luck to all
  • #355,775
  • Dec 10, 2013 4:18am Dec 10, 2013 4:18am
Quoting nAVIN2007
{quote} what happens is u focus on the opposite to what u do and it become amplified..when i first started trading id buy and it would fall FAST i was simply stunned almost like a shock..i was just paralyzed mind games bro!!..i absolutely feel like if i enter 1 lot long this thing will tank

yep, it happens a lot, even after 5 years of trading, u hold a position for a long time and when it feels trend isnt your friend any more u give up n then it comes back to u. just crazy
  • #355,776
  • Dec 10, 2013 4:20am Dec 10, 2013 4:20am
Quoting mamalujo
{quote} yep, it happens a lot, even after 5 years of trading, u hold a position for a long time and when it feels trend isnt your friend any more u give up n then it comes back to u. just crazy
  • #355,777
  • Dec 10, 2013 4:33am Dec 10, 2013 4:33am
GBP/USD DAILY CHART

We are in the resistance zone. We may see a sudden drop to the 1.5480

BE CAREFULL !!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 45 KB
  • #355,778
  • Dec 10, 2013 4:34am Dec 10, 2013 4:34am
Quoting davidsayli
GBP/USD DAILY CHART We are in the resistance zone. We may see a sudden drop to the 1.5480 BE CAREFULL !!! {image}

Well lets all hope you are right David
  • #355,779
  • Dec 10, 2013 4:35am Dec 10, 2013 4:35am
GU H4 GMT+3

Last broken resistance under testing/becomeing support.
I am still holding all positions, close everithing if it could close under ~6412...
If it wants later add more long after creating new high.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 87 KB
Anything is math!
  • #355,780
  • Dec 10, 2013 4:40am Dec 10, 2013 4:40am
Quoting nAVIN2007
{quote}

i'm not comfy with long positions, will wait for a short opportunity, when ever that is
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