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Cable Update (GBPUSD)

  • #356,961
  • Dec 31, 2013 2:33am Dec 31, 2013 2:33am
wth Just woke up, too much of a bounce!!! The Eur is playing with GBP!
I shouldnt have hedged or locked in profits as PipT said - worst thing is to wake up 15mins after your stop losses have been hit :/
  • #356,962
  • Dec 31, 2013 2:38am Dec 31, 2013 2:38am
Quoting PipTrapper
Green is the buy zone for me. G/U H1 {image}
Cable nudged up the wave B high overnight, so now have a new adjusted buy zone and target for wave C completion.

G/U H1
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #356,963
  • Dec 31, 2013 2:42am Dec 31, 2013 2:42am
Quoting Baggi
It seems I'm all alone here and headed to bed. Wanted to draw the final closing hourly triangle. Did it two different ways. One triangle is by the base of the candle, the other is by the wick. This way I'm not cheating. Looks like we have a triangle consolidation breakout here. I'd like to wait another hour to confirm, but I have a day job. {image}
If you looking to get in long here, where will you be entering at and exiting ?. I reckon above 1.6540 will be your entry and below 1.6500 will be SL....isnt that a little too much risk for just an hrly breakout
  • #356,964
  • Dec 31, 2013 3:06am Dec 31, 2013 3:06am
Morning just gone long again i think today we could see the cable hit its weekly trend line then sell off to were piptraders green area, but by then we could be looking at LL & LH
  • #356,965
  • Dec 31, 2013 3:13am Dec 31, 2013 3:13am
Quoting PipTrapper
{quote} For me the solution would have been to keep holding long regardless. I would not have hedged and if it came to the point where I had no choice but to hedge, I would not have done it until I saw a triangle breakout to the downside. However, instead of hedging, my preference would have been to take partial profits and let the rest ride.
Indeed PT.

Closed out half myself.

I smell a rat, and I'm now thinking I should have held the lot.
Currently looks like all upside to me considering the weekly formation this month.
And if we close above the monthly 200ema this month (today), then the real trading could very well start in Jan 2014 as was suggested by a fellow trader.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 25 KB
Click to Enlarge Name: gbpusdh1.png Size: 22 KB
Come with me if you want to live....
  • #356,966
  • Edited 3:40am Dec 31, 2013 3:18am | Edited 3:40am
I have tight sl just targeting yesterdays high in case of top at 1.6576 were we could see see off if we break that i will move sl to there, thats me for now
  • #356,967
  • Dec 31, 2013 3:23am Dec 31, 2013 3:23am
First long realization area is about ~6696... Maybe 40 minutes later i will add one more long! Waiting wich price can it close.
Anything is math!
  • #356,968
  • Dec 31, 2013 4:11am Dec 31, 2013 4:11am
GU H4 GMT+3

Nice bullsih close. Add a buy stop to 6546 if there wouldnt be enought correction. I am wathcing ~6520 to add one more long in this case i will delete buy stop. All positions will be closed if price could close under ~6464.

Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmicroh4.png Size: 57 KB
Click to Enlarge Name: gbpusdmicroh1.png Size: 40 KB
Anything is math!
  • #356,969
  • Dec 31, 2013 4:11am Dec 31, 2013 4:11am
Quoting Ill-b-back
{quote} Indeed PT. Closed out half myself. I smell a rat, and I'm now thinking I should have held the lot. Currently looks like all upside to me considering the weekly formation this month. And if we close above the monthly 200ema this month (today), then the real trading could very well start in Jan 2014 as was suggested by a fellow trader..... {image} {image}
Those who say it cannot be done should not interrupt those who are doing it
  • #356,970
  • Dec 31, 2013 4:17am Dec 31, 2013 4:17am
I hate to see the shitt rising .. so many bears fcked by this monster very badly .. it should drop and wash out all bulls SL before rising ..
  • #356,971
  • Dec 31, 2013 4:19am Dec 31, 2013 4:19am
Quoting rambo12
I hate to see the shitt rising .. so many bears fcked by this monster very badly .. it should drop and wash out all bulls SL before rising ..
Today is month and quarter end... not to mention year end.
December 31st is usually quite choppy or volatile so don't expect the price action to make a lot of sense.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,972
  • Dec 31, 2013 4:49am Dec 31, 2013 4:49am
If G/U not closed over 1.6544 in 15min. possible turn to daily low 1.6473 and next test yesterday low
More on my Blog...
  • #356,973
  • Dec 31, 2013 5:04am Dec 31, 2013 5:04am
Quoting PipTrapper
{quote} Today is month and quarter end... not to mention year end. December 31st is usually quite choppy or volatile so don't expect the price action to make a lot of sense.
just my wishful thinking
  • #356,974
  • Dec 31, 2013 5:05am Dec 31, 2013 5:05am
Quoting Kajos2250
GU H4 GMT+3 Nice bullsih close. Add a buy stop to 6546 if there wouldnt be enought correction. I am wathcing ~6520 to add one more long in this case i will delete buy stop. All positions will be closed if price could close under ~6464. Good luck! {image} {image}
DPP retested, long added (6511), buy stop deleted. If H4 could close under ~6464 close all.

Good luck!
Anything is math!
  • #356,975
  • Dec 31, 2013 5:12am Dec 31, 2013 5:12am
Quoting Kajos2250
{quote} DPP retested, long added (6511), buy stop deleted. If H4 could close under ~6464 close all. Good luck!
Is 6639 still possible
Keep the Lights on then you can catch the rise from the dark.
  • #356,976
  • Dec 31, 2013 5:22am Dec 31, 2013 5:22am
Quoting ricmaj
{quote} Is 6639 still possible
Everyting is possible
I hope i can hold my longs to ~6700.
Maybe at ~6617 close half of longs to realize some profit. First of all let it make a new high!
I belive in help of BOJ! lol
Anything is math!
  • #356,977
  • Dec 31, 2013 5:28am Dec 31, 2013 5:28am
Quoting Kajos2250
{quote} Everyting is possible I hope i can hold my longs to ~6700. Maybe at ~6617 close half of longs to realize some profit. First of all let it make a new high! I belive in help of BOJ! lol

Anyway let us see how price action goes. cuz right now 654X playing the resistance.
Keep the Lights on then you can catch the rise from the dark.
  • #356,978
  • Dec 31, 2013 5:38am Dec 31, 2013 5:38am
We might have seen the double top at 1.6546 if so we have a small trend line around the 1.6450 price is being rejected on the hour from 1.6524 the candle before was bearish if this hour closes bearish thats me stopped out only small position,break below 1.6450 takes out the 20,50 ema and 10 sma could then be on route to 200 sma down at the big trend line were pip trapper will go long, is that right pip
  • #356,979
  • Dec 31, 2013 5:54am Dec 31, 2013 5:54am
If EG daily could close under ~8332 support it can help to GU fly higher to first long realization zone ~6700 by my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpmicrodaily.png Size: 38 KB


The GJ daily has no sign for short at the moment. If today candle can't close under ~172.29 (WPP) it shows me continuation pattern too! I hope it can reach ~180.50 soon
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpymicrodaily.png Size: 30 KB
Anything is math!
  • #356,980
  • Dec 31, 2013 6:02am Dec 31, 2013 6:02am
Sitting here watching the candles burn sometimes at both ends, and it seems to me our life is like trading forex, we start off life with an entry point, which has been calculated before birth, we then have our highs and lows, we grow as people and find resistance to our growth, could be relationships our job, so we feel down if things go wrong, down to our support which could be our family or friends, we then find strength and break the resistance to achieve more gains and then happy in life. Then we start failing in our trades we cannot hold our positions and finally we lose our account ??????? i wish you all long accounts in the following year ..... Regards Billy
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