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Cable Update (GBPUSD)

  • #357,641
  • Jan 8, 2014 1:04am Jan 8, 2014 1:04am
Quoting taomql4
And Now , we go for the 4th - I don't know , but very good chance the SOB will drop it again .. will be ready to short , soon as I get the signal in the Supply Box .. http://www.youtube.com/watch?v=CbzGKAao4PU {image} {image}
Seeing as you work with supply and demand, isn't it true that supply gets "used up" every time it enters a zone?
@pawpaw1000 on Twitter
  • #357,642
  • Jan 8, 2014 1:11am Jan 8, 2014 1:11am
Quoting acidguy
{quote} thats partly true, if you like harmonics GU has just completed a very bullish gartley pattern, d was the low 1.63 we just had in the last days, this thing could try to retake 1.66 in the next few days, now 1.68 is looking very possible, im gonna keep adding shorts for long term trade, but short term this pair very bullish data (fundamentals) in some hours will invalidate it or no tecnical analysis. {image}
Why are you adding shorts if you think it's bullish?
  • #357,643
  • Jan 8, 2014 1:22am Jan 8, 2014 1:22am
Quoting Baggi
{quote} Why are you adding shorts if you think it's bullish?
long term trade, ill be adding bigger lots every 100 pips up, absolutely no one knows goes where its gonna go, we get clues and we play the cards.
with some nice money management you can be happy even if it goes against you for awhile,
cause bigger upper trades are gonna shade lower ones, same as gold, is going down and will buy at every dip as long term direction is up.
  • #357,644
  • Jan 8, 2014 1:27am Jan 8, 2014 1:27am
Quoting acidguy
{quote} long term trade, ill be adding bigger lots every 100 pips up, absolutely no one knows goes where its gonna go, we get clues and we play the cards. with some nice money management you can be happy even if it goes against you for awhile, cause bigger upper trades are gonna shade lower ones, same as gold, is going down and will buy at every dip as long term direction is up.
if it going up every 100 pips why not catch those pips instead of trying to pick the top
  • #357,645
  • Jan 8, 2014 1:40am Jan 8, 2014 1:40am
Quoting PoundTrader
{quote} if it going up every 100 pips why not catch those pips instead of trying to pick the top


Because it's pretty hard to get a good entry... His way, he can be wrong for a while but would normally be right in the end.

Unless of course the pound has entered a Bull market to go and test yearly highs but that is improbable and he would still get out on pullbacks down
@pawpaw1000 on Twitter
  • #357,646
  • Jan 8, 2014 1:42am Jan 8, 2014 1:42am
Quoting pawpaw1000
{quote} Because it's pretty hard to get a good entry... His way, he can be wrong for a while but would normally be right in the end. Unless of course the pound has entered a Bull market to go and test yearly highs but that is improbable and he would still get out on pullbacks down
doesn't sound like a good plan but who am i to judge http://www.easyfreesmileys.com/smile...mileys-327.gif
  • #357,647
  • Jan 8, 2014 1:43am Jan 8, 2014 1:43am
Quoting PoundTrader
{quote} if it going up every 100 pips why not catch those pips instead of trying to pick the top
great question, i have to be more confident following the trend, i have to learn to do it,
almost every trade of mine is base in overbought, oversold zone pullbacks.

overbought and oversold zones give a nice chance to exit most of the time when the price starts to struggle,
probably could rise 200 pips more but can fall 600 pips.

90% percent of the traders follow the trend and wipe out accounts, money management is king,
also there is a 2% that following it get rich, this is a big subject.
  • #357,648
  • Jan 8, 2014 1:46am Jan 8, 2014 1:46am
Quoting PoundTrader
{quote} doesn't sound like a good plan but who am i to judge {image}


It's like value investing basically... You find something you see value in, find the price it shows value, then start buying every say 5% drop beyond there. You average a good position without having to choose and exact point.

You buy 20% of your ultimate lot size every time and so you get 5 times or 25% chance to be wrong. You will obviously have a point where you throw in the towel which would be perhaps 50% or whatever.

Works quite well with no leverage as an investment strategy, not sure about forex though but perhaps he's found a way to make it work for him?
@pawpaw1000 on Twitter
  • #357,649
  • Jan 8, 2014 1:47am Jan 8, 2014 1:47am
Quoting acidguy
{quote} great question, i have to be more confident following the trend, i have to learn to do it, almost every trade of mine is base in overbought, oversold zone pullbacks.
  • #357,650
  • Jan 8, 2014 2:00am Jan 8, 2014 2:00am
Four hour just gave an up signal.

Will be interesting to see where this winds up after I wake.
  • #357,651
  • Jan 8, 2014 2:02am Jan 8, 2014 2:02am
Quoting pawpaw1000
{quote} It's like value investing basically... You find something you see value in, find the price it shows value, then start buying every say 5% drop beyond there. You average a good position without having to choose and exact point. You buy 20% of your ultimate lot size every time and so you get 5 times or 25% chance to be wrong. You will obviously have a point where you throw in the towel which would be perhaps 50% or whatever. Works quite well with no leverage as an investment strategy, not sure about forex though but perhaps he's found a way...
  • #357,652
  • Edited 2:20am Jan 8, 2014 2:10am | Edited 2:20am
6435 is 1st level if we get there on this push, not convinced its the real move yet, no positions

SHORT with sl above highs

EDIT: SL 6419
@pawpaw1000 on Twitter
  • #357,653
  • Jan 8, 2014 2:24am Jan 8, 2014 2:24am
Quoting pawpaw1000
6435 is 1st level if we get there on this push, not convinced its the real move yet, no positions SHORT with sl above highs EDIT: SL 6419


Out, -3

Know when you're wrong and get out...
@pawpaw1000 on Twitter
  • #357,654
  • Jan 8, 2014 2:42am Jan 8, 2014 2:42am
Quoting PoundTrader
fail to break bottom trend line i say she going up {image}
i have to agree, I think the stops above 1.6440 are a good target, and could see an attempt at 1.6475
Attached Images
  • #357,655
  • Jan 8, 2014 3:16am Jan 8, 2014 3:16am
Quoting usernamehere
{quote} i have to agree, I think the stops above 1.6440 are a good target, and could see an attempt at 1.6475 {image} {image}
  • #357,656
  • Jan 8, 2014 3:17am Jan 8, 2014 3:17am
Cable's hourly setup since start of the year.
1.6428




GBP/USD - H1
Attached Image
Hear the music before the song is over ...
  • #357,657
  • Jan 8, 2014 3:24am Jan 8, 2014 3:24am
Quoting pawpaw1000
{quote} Because it's pretty hard to get a good entry... His way, he can be wrong for a while but would normally be right in the end. Unless of course the pound has entered a Bull market to go and test yearly highs but that is improbable and he would still get out on pullbacks down
This is what everybody even a kid can do. Very dangerous strategy. Maybe some kind of martingale which easyly helps to kill the biggest account too!
Your choice!
Anything is math!
  • #357,658
  • Jan 8, 2014 3:28am Jan 8, 2014 3:28am
Quoting Kajos2250
{quote} This is what everybody even a kid can do. Very dangerous strategy. Maybe some kind of martingale which easyly helps to kill the biggest account too! Your choice!


I agree, but perhaps he has found a way to make it work for him? If you buy in small lots only overbought on Weekly/ daily you can definately make it work...

Think it was in Market wizards that I read about a trader that shorts the market even while it is going up and he always makes money.

I know, not possible...
@pawpaw1000 on Twitter
  • #357,659
  • Jan 8, 2014 3:30am Jan 8, 2014 3:30am
Quoting pawpaw1000
{quote} I agree, but perhaps he has found a way to make it work for him? If you buy in small lots only overbought on Weekly/ daily you can definately make it work... Think it was in Market wizards that I read about a trader that shorts the market even while it is going up and he always makes money. I know, not possible...
so he's a sell side trader, never goes long, i was think of building a system where i only go short i might continue to look into this
  • #357,660
  • Jan 8, 2014 3:31am Jan 8, 2014 3:31am
Quoting PoundTrader
{quote} so he's a sell side trader, never goes long, i was think of building a system where i only go short i might continue to look into this
what goes up must come down
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