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Cable Update (GBPUSD)

  • #373,721
  • Apr 28, 2014 11:48am Apr 28, 2014 11:48am
Quoting albchr
{quote}
Bearish continuation review @6788
  • #373,722
  • Apr 28, 2014 11:55am Apr 28, 2014 11:55am
Quoting JimmyC
{quote} Bearish continuation review @6788
Agreed. I have 6784 but what's a few pips.
Ghost Rider - WWTBMD?
  • #373,723
  • Apr 28, 2014 12:15pm Apr 28, 2014 12:15pm
It's really struggling at these levels.

I think we could see 6670 by the end of the week.
  • #373,724
  • Apr 28, 2014 12:16pm Apr 28, 2014 12:16pm
$SPX - 15m

This is going to cause some headaches...
Attached Image (click to enlarge)
Click to Enlarge Name: SPX 500 15.png Size: 15 KB



$DX - 15m

This did this morning
Attached Image (click to enlarge)
Click to Enlarge Name: DX 15.png Size: 19 KB
  • #373,725
  • Apr 28, 2014 12:18pm Apr 28, 2014 12:18pm
GU Dustbin long

Setup GU15 - dustbin levels
Attached Image (click to enlarge)
Click to Enlarge Name: GU 15 dustbin .png Size: 19 KB
  • #373,726
  • Apr 28, 2014 12:44pm Apr 28, 2014 12:44pm
If there's good data out of NZD, this could provide opp to buy (ie BUY: GBP/NZD) into the s/t GBP rally - IMO.
  • #373,727
  • Apr 28, 2014 12:50pm Apr 28, 2014 12:50pm
Quoting TauTrader
{quote} Good day, Sir E Sorry - missed the post. Good one! Have closed all positions - now flat. Moving lower to the 30min and 15min charts now to look for the AD HOC scalp - in any direction... Trade well and all the best to you Regards
hi Tau just took the profit from this mornings trade, and looking to short again probably wait to see if it breaks the 200 sma sitting 6804 or might have a go at 6813 gl hope you have done well just checking todays post now, regards E
  • #373,728
  • Apr 28, 2014 12:56pm Apr 28, 2014 12:56pm
Quoting elbert3
{quote} 35 to 50 pips off this ??
see above just what it said on the can?? looking to short again target 6750 and below,, and in as i write wow
  • #373,729
  • Apr 28, 2014 12:58pm Apr 28, 2014 12:58pm
Quoting elbert3
{quote} see above just what it said on the can?? looking to short again target 6750 and below,, and in as i write wow
sorry might of jumped on the train without checking its destination ?? in 604 s; 6816
  • #373,730
  • Apr 28, 2014 12:58pm Apr 28, 2014 12:58pm
I'm looking to buy again.Maybe japanes session go lower and got a better catch.
  • #373,731
  • Apr 28, 2014 12:58pm Apr 28, 2014 12:58pm
Quoting elbert3
{quote} hi Tau just took the profit from this mornings trade, and looking to short again probably wait to see if it breaks the 200 sma sitting 6804 or might have a go at 6813 gl hope you have done well just checking todays post now, regards E
Nice one, sir

I cannot see any trades setting up for me on the 15 min, 30min or 1hr for now ( my rules).. but 4hr and daily still shows a little downside pressure. Will wait on the 30 min and 1hr to trade retraces or continuations - but I do not think any more trades today.

Have a good one - speak soon

Regards and take care
  • #373,732
  • Apr 28, 2014 2:38pm Apr 28, 2014 2:38pm
Quoting uzsiemusi
{quote} My TP on 1.7 as well but is doesn't meant that I won't close order manually little bit earlier


@uzsiemusi:

Yes a manual close is never a bad idea. Just remember to always trade your plan.

HDA OUT
  • #373,733
  • Apr 28, 2014 2:44pm Apr 28, 2014 2:44pm
Quoting ngiler
{quote} Welcome back HDA. This thread bcome so much lively after u came back. Hope can learn something from u.
@ngiler:

We are all students here picking up small bits of lessons, here and there from each other. Thank you for the warm welcome. I will be around until Wednesday, April 30, 2014 when the wife gets back from her trip. Then I will be Under Forum Arrest Again if there is ever such a term.

HDA OUT
  • #373,734
  • Apr 28, 2014 2:59pm Apr 28, 2014 2:59pm
Quoting HDA
{quote} @ngiler: We are all students here picking up small bits of lessons, here and there from each other. Thank you for the warm welcome. I will be around until Wednesday, April 30, 2014 when the wife gets back from her trip. Then I will be Under Forum Arrest Again if there is ever such a term. HDA OUT
There is now... ... don't let it get around
Ghost Rider - WWTBMD?
  • #373,735
  • Apr 28, 2014 3:18pm Apr 28, 2014 3:18pm
I see. 2 rising wedge target. 166.70. An. 1.6550. In CABLE
  • #373,736
  • Apr 28, 2014 3:30pm Apr 28, 2014 3:30pm
Sorry i am not at my pc with the chart so here goes a breakout past 6798 takes us to,6760, support there but that is in between 23 and 38% fib on the 4 hour where at this time sits 100sma, but most likely to go to 6787 23% if it breaks there then 6750, this could give a good long back up to the 20 ema as price does not like to be away from the 20 ?? could get to 6907.
Failing the 6750 ,, 6706 is the 50% and the 61% is 6672 this would possibly be the last chance for a long, ,, within this week ??? there you go,, ,, this is after a long day and a bottle of red wine ??? lol
  • #373,737
  • Apr 28, 2014 3:47pm Apr 28, 2014 3:47pm
It all depends on later news....it will give us the direction.
Patience, let the market come to you!
  • #373,738
  • Apr 28, 2014 3:47pm Apr 28, 2014 3:47pm
Quoting elbert3
Sorry i am not at my pc with the chart so here goes a breakout past 6798 takes us to,6760, support there but that is in between 23 and 38% fib on the 4 hour where at this time sits 100sma, but most likely to go to 6787 23% if it breaks there then 6750, this could give a good long back up to the 20 ema as price does not like to be away from the 20 ?? could get to 6907. Failing the 6750 ,, 6706 is the 50% and the 61% is 6672 this would possibly be the last chance for a long, ,, within this week ??? there you go,, ,, this is after a long day and a...
lets target 6767 and sell and a buy at the same time .. good night
  • #373,739
  • Apr 28, 2014 3:49pm Apr 28, 2014 3:49pm
Quoting dashisiong
It all depends on later news....it will give us the direction.
on the 15 min we have the 20ema and 200 sma side by side expect a big move away ??
  • #373,740
  • Apr 28, 2014 3:52pm Apr 28, 2014 3:52pm
Quoting nAVIN2007
{quote} if tomorrow gdp is good might happen otherwise no way i hope
@nAVIN2007:


Quoting nAVIN2007
this message is to any1 messaging me on what is going on!! how to read charts and all the rest of it..i have no idea what the hell is going on other than this mofo is rising since 1.48 i cannot advise u because im in heavy dd myself

Quoting nAVIN2007
this is market is something i cant predict.. edge aint working at all

I'm sorry for taking so long to reply, I had to pop out for a bit. How are you holding up with that 1000 pip draw down on your GBP/USD trade that you are still carrying? I read of it from Maximinus


Quoting maximinus
{quote} You had the faith for keeping your position and accepted 1000 pips drawdown, the most difficult part of this trade is behind you. Honestly, I expect this to spike at 6878 (like a spike in euro to 3976) and then a big leg down to 6450 and 6250. The best part of your trade is coming…Sure there is something to meditate when you exit your trade. All the best.

You have shared your plan with us:


Quoting nAVIN2007
{quote} this market is an absolute cow..im still short..i have do idea how long i have been short but i reckon if i live it will be at least 6-12 months b4 the mofo sinks but i could get killed quickier

Quoting nAVIN2007
{quote} it is possible for sure ..i was very bullish on it but somehow i got caught selling it..i just need it to drop to 1.59 if thats not asking to much

Quoting petetong
you are the most patient long term trader I know of....you hold positions for months or even over 1 year in the past times. do you mind asking - Where is your b/e now on those short positions you have been building ? best wishes. {quote}

Quoting nAVIN2007
{quote} around 1.58.. what keeps me in trade is just stats, we are below the 50% and i think this is pretty much the top of the range statistically a retrace is on but the market seems to respect news much more, i used to ignore it and found it was priced in the charts but these days chart is completely reacting to news maybe all in my head and simply this is a uptrend and news favors the trend. Anyways for sure this is a trade i need to reflect on if lucky enough to survive {image}...

Quoting nAVIN2007
{quote} it will take a lot longer than a week..in fact i have already come to terms that..i might be in this for another year ie we this mofo falls to 1.58 be end of year im holding for 1.5280 if that goes then lower i have a lot of time 2 weeks aint going to do nothing

Quoting albchr
{quote} Just curious bro, what are the swaps looking like on your positions? You don't have to answer if that's too personal buddy. I've just always wondered how much they effect the account if holding DD for a long time. Keep the faith my friend, it can't stay anywhere forever. In time I can easily see this getting back to at least the BE you mentioned. Probably lower.

Quoting nAVIN2007
{quote} im down 4.5k swaps is around £160 so far..

Quoting nAVIN2007
{quote} i was supposed to be long forever hehe tricked!! somehow i keep doing the opposite to what i should be doing!! and people say im a good trader.. NOT!! MR T..I hope u are right bru

There are 194 traders who chose to subscribe to you and I think its wonderful that they are learning from you what NEVER to do in trading.


Quoting Davit
Just a general commentary about trading No particular person in mind. We should all have clear idea when trade is wrong and has reached its "I was wrong and taking the loss" When fresh in trading taking a loss is difficult and often not taking $100 loss becomes $1000 loss then forced to take $1000 loss and big chunk of account. So market forced you take a greater loss because you avoided much smaller loss. This is counter intuitive.We are always taught never to lose never gave up etc.This is opposite in trading.Taking a loss is...

I'm sorry to have read about your mom. My dad had the same surgery.

Close Your Trade, Take The Loss and Start Fresh Again. You Can Make It Back.

Psychologically, you have reenforced a very bad habit by holding on to that trade for so long.

TAKE THE LOSS

I will continue to hold my GBP/USD trade until 1.7000

I will continue to earn in positive swaps, US$287.61 per day since November 2013 or US$8,628.30 per month or US$51,769.80 over the past 6 months, holding my position trade long in the direction of the trend, as the market continues to wave UP and DOWN towards my final target.

From your time here at Forex Factory since December 2007 and having gone though most of your posts, you are a liked and respected individual on this thread.

There is no shame in taking that loss if your 60 BUDDIES are too afraid to tell you and if they had indeed told you, YOU SHOULD LISTEN.

TAKE THE LOSS AND MOVE ON

Respectfully,
HDA OUT
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