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Cable Update (GBPUSD)

  • #362,161
  • Feb 5, 2014 4:21am Feb 5, 2014 4:21am
Quoting IveGotQuads
{quote} We will agree to disagree, rules are meant to keep you in the game. This is a job or occupation with 90% fail rate and you say there are no rules. goodluck

rules are there to protect u..
trading is a matrix of randomness..if what u do is consistent and gives a positive result..u have a system, Breaking this system can destroy your account..if u can maintain a good balance..your job in trading will be a lot easier

perhaps u have got to a stage in trading where u can understand why things works..
bottom line is 90% of people doing this will lose..rules or no rules if u are the 10% making money..u are doing something right!

davit..is making at least 6% a month..that is a fantastic achievement
that is why i say do what u are doing

if u look back at my history..u will see i always used to have a stop...last couple of years i havent had a close stop loss but the stop is there simply as a guard..i dont rely on it..i will act and do what is neccessary..i have been in this trade for a while but i cannot tell how long!!..most people im aware would know..we are all different
  • #362,162
  • Feb 5, 2014 4:23am Feb 5, 2014 4:23am
Quoting elbert3
i am already short and not selling them think you could still jump in now and catch the break below 6252 with that rejection candle i dont think it will go to higher uo maybe 6300 then add or go short this is not going long still target today for me is 6150{image}
Elbert experience taught me that we will get back one more try big rally up.Its matter of days or week.
Feb11 Yellen testifies and could fire the markets
In trading, you have to be defensive and aggressive at the same time
  • #362,163
  • Feb 5, 2014 4:44am Feb 5, 2014 4:44am
Quoting Davit
{quote} Elbert experience taught me that we will get back one more try big rally up.Its matter of days or week. Feb11 Yellen testifies and could fire the markets
will you go long if the rally comes, davit? correct me if i´m wrong, but i can´t rember a long trade from you since november.
fortis fortuna adiuvat
  • #362,164
  • Feb 5, 2014 4:49am Feb 5, 2014 4:49am
im still going big long,

think it will bounce up quite much,
  • #362,165
  • Feb 5, 2014 4:53am Feb 5, 2014 4:53am
Quoting IveGotQuads
buy order 1.6275 Sl 1.6253
got filled maybe 30 mins ago , hopefully 3 hrs is enough time for this to move maybe 20 -25 pips take half , move SL to BE and let it the other half run with US news whatever the market wants to give. going back to sleep later piphunters and goodluck ?
  • #362,166
  • Feb 5, 2014 4:54am Feb 5, 2014 4:54am
Quoting akuwudikeeze
Hello guys, just want to get a view on where cable might reach as regards to bear. i have forcasts of 1.600 levels? need you input
Banks want it to consolidate up to 1.6290 aroundbouts to sell it down through 50-20-00.

The spike upside was enough to trigger offers are probably run few sell stops today.

Depends on ADP and ISM later today what then or may actually wait the news before any selling to occur.
They think they are smarter than I am.
  • #362,167
  • Feb 5, 2014 4:58am Feb 5, 2014 4:58am
Quoting Davit
{quote} had already 3 longs this week all winners but not on cable. Sure why not once big money pushes up I will dive in going up then swim down. I went 9-0 so far this week traded EG AC ,U/CHF and EU {image}

so in your opinon?
when u go long?
  • #362,168
  • Feb 5, 2014 5:02am Feb 5, 2014 5:02am
Quoting deltaone
{quote} will you go long if the rally comes, davit? correct me if i´m wrong, but i can´t rember a long trade from you since november.
Yes why not.Swim with whales up and slide down with them.
In trading, you have to be defensive and aggressive at the same time
  • #362,169
  • Feb 5, 2014 5:04am Feb 5, 2014 5:04am
Quoting Davit
{quote} had already 3 longs this week all winners but not on cable. Sure why not once big money pushes up I will dive in going up then swim down. I went 9-0 so far this week traded EG AC ,U/CHF and EU
Hi Davit,

May I ask you... While you're still a Newbie, which the Currency you learned in TRADE ?
Is it you still trading with that's Currencies ?

If other than GBP/USD pair, you have a great opportunity to make a Profit. Why still retains GBP/USD ?
I would suggest better forget it. Take the Currencies that made a profit and double it Profit to you

GBP/USD is the hardest currency on studied... compared with other Currencies
Just look at other Traders. For example, Trader can well & experts benefit on EUR/USD but necessarily in the GBP/USD.
Why take more Risk ?

Just my Advice...
Always looking the GREAT, never left GOOD Point...
  • #362,170
  • Feb 5, 2014 5:05am Feb 5, 2014 5:05am
Quoting Z3iz3i
{quote} Banks want it to consolidate up to 1.6290 aroundbouts to sell it down through 50-20-00. The spike upside was enough to trigger offers are probably run few sell stops today. Depends on ADP and ISM later today what then or may actually wait the news before any selling to occur.
yeah gbp not co-operating. Hope where not waiting for nonfarm adp...
  • #362,171
  • Feb 5, 2014 5:08am Feb 5, 2014 5:08am
Quoting valtz
{quote} so in your opinon? when u go long?
Once I see clear stable consolidation (or accumulation).As you can tell all week has been pure Bear and little consolidation.
This is more obvious on daily chart where price is dropping in steep angle suggesting considerable Bear force.Notice there is no sideway consolidation taking place.
That's what I need to go long.Even then there must be price breaking up from consolidation to be valid signal otherwise price could consolidate then resume Bear trend.
6250 is key support area previous resistance which was hard to break.
price touched 4 times before.Break of this opens gates to 1.60 then 1.58
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 28 KB
In trading, you have to be defensive and aggressive at the same time
  • #362,172
  • Feb 5, 2014 5:18am Feb 5, 2014 5:18am
Quoting IveGotQuads
{quote} got filled maybe 30 mins ago , hopefully 3 hrs is enough time for this to move maybe 20 -25 pips take half , move SL to BE and let it the other half run with US news whatever the market wants to give. going back to sleep later piphunters and goodluck ?
closed the trade for 7 pips loss. That engulfing candle , although not on a main zone is enough proof the bears got this temporarily . Done for the day... goodluck on US session
  • #362,173
  • Feb 5, 2014 5:27am Feb 5, 2014 5:27am
Quoting Tsar
{quote} Hi Davit, May I ask you... While you're still a Newbie, which the Currency you learned in TRADE ? Is it you still trading with that's Currencies ? If other than GBP/USD pair, you have a great opportunity to make a Profit. Why still retains GBP/USD ? I would suggest better forget it. Take the Currencies that made a profit and double it Profit to you GBP/USD is the hardest currency on studied... compared with other Currencies Just look at other Traders. For example, Trader can well & experts benefit on EUR/USD but necessarily...
Hi Tsar
Just saw your post. My favorite pairs has been U/CHF EU and U/Cad
I made most money on U/Cad and lost most money on Cable.....you got a point...
maybe there is little revenge in me on cable....
In trading, you have to be defensive and aggressive at the same time
  • #362,174
  • Feb 5, 2014 5:28am Feb 5, 2014 5:28am
Quoting elbert3
i am already short and not selling them think you could still jump in now and catch the break below 6252 with that rejection candle i dont think it will go to higher uo maybe 6300 then add or go short this is not going long still target today for me is 6150{image}
Attached Image (click to enlarge)
Click to Enlarge Name: w.png Size: 78 KB
i will be looking to go short off one of the emas depending on candle form and any trending lines together
  • #362,175
  • Feb 5, 2014 5:46am Feb 5, 2014 5:46am
Quoting Davit
{quote} Nav I seriously thought these fkers will push price up again to test 1.67 but was flat wrong. Anyway I can't short now since its on demand levels.
wew seems it happened to most of us! glad to know i'm not alone got deceived by market! lol me too i stopped my shorts 66016 at 65 level. I try to read the signal at that time and I thought she gonna bounce back to 66 soon, i was sooooo regret it, i was thinking i just close my rare anually position way too early etc etc...
i got tempted soo bad to do another 'revenge' trade again, but in the end I just do another trade GU on my demo only ..it works for me to forget this pair for awhile n managed get some 'replacement' pips from other pair...
btw davit thanks for sharing that physiological trade ebook ! very useful to read. hope u don't mind i subscribe u
A handful of patience is worth a bushel of brains
  • #362,176
  • Feb 5, 2014 5:54am Feb 5, 2014 5:54am
The GBP/USD was unable to overcome the 1.6340 price zone, yesterday’s high, and resumed the downside on a worse than expected UK Service PMI; the reading however was pretty positive, posting a healthy 58.3, but below the 59.1 expected and the previous 58.8. Trading above the 1.6250 key breakpoint, the 4 hours chart maintains a pretty bearish tone, as indicators head lower after correcting oversold readings while 20 SMA maintains a strong bearish tone, currently a few pips above mentioned 1.6340, reinforcing the resistance level. A break below 1.6250 should see the bearish momentum accelerating, targeting then 1.6210 first, and 1.6170 area later on the day.


A recovery above 1.6300 may see the pair attempt to retest the 1.6340 resistance, albeit only steady gains above 1.6360 should signal a bullish continuation eyeing then 1.6410 price zone.
?
?news clip for you
  • #362,177
  • Feb 5, 2014 5:56am Feb 5, 2014 5:56am
Quoting Davit
{quote} Hi Tsar Just saw your post. My favorite pairs has been U/CHF EU and U/Cad I made most money on U/Cad and lost most money on Cable.....you got a point...
Just have take a look USD/CAD and USD/CHF in Charts.
In my opinion, USD/CAD the Price movement is easier to read and understand than USD/CHF.
Although the wax Formations more random than CABLE. Btw... the Candle Signal more clearly.

Perhaps... my Basic Trade is GBP/USD (I learned start Newbie)
And almost 6 months I didn't Trade EUR/USD b'cause too Slowly.
I'm looking another Pair for Changes, will futher colleagues for USD/CAD pair.

I can give you advice, double it in USD/CAD pair and forget it GBP/USD. I believe you will got more GREEN Pips
Is it the purpose of the TRADE we look for Profit ?
Always looking the GREAT, never left GOOD Point...
  • #362,178
  • Feb 5, 2014 6:01am Feb 5, 2014 6:01am
Quoting elbert3
{quote} {image} i will be looking to go short off one of the emas depending on candle form and any trending lines together
Just be careful going in. As you can see price is consolidating as the big players are entering their positions little by little so as not to move price in one direction sharply. Once they do this and get their dual positions they can use their orders and send price both directions to stop ppl out during news events before they acquire the main positions they wanted in the first place. Made a mistake fading the GBP news as I forgot to check for US session news, made no sense staying in the market. Better a small mistake for 7 pips than a 20 pip one
  • #362,179
  • Feb 5, 2014 6:05am Feb 5, 2014 6:05am
Attached Image (click to enlarge)
Click to Enlarge Name: fake.png Size: 75 KB
i will watch for a fake move out of the marked area price gos with the trend
  • #362,180
  • Feb 5, 2014 6:13am Feb 5, 2014 6:13am
Quoting IveGotQuads
{quote} Just be careful going in. As you can see price is consolidating as the big players are entering their positions little by little so as not to move price in one direction sharply. Once they do this and get their dual positions they can use their orders and send price both directions to stop ppl out during news events before they acquire the main positions they wanted in the first place. Made a mistake fading the GBP news as I forgot to check for US session news, made no sense staying in the market. Better a small mistake for 7 pips than a...
I've read some nonsense in my time, but I think that post tops the lot.
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