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Cable Update (GBPUSD)

  • #395,341
  • Aug 29, 2014 10:00am Aug 29, 2014 10:00am
Quoting elbert3
{image} it is good support then up to the 20 ema tl line or it could take out the bottom,,is it profit taking on a friday ???
come on as above
  • #395,342
  • Aug 29, 2014 10:03am Aug 29, 2014 10:03am
Whilst this has double bottomed on the resistance at around 6535, I firmly expect this to turn back round and go back up, continuing the long term up-trend.
However, on the Daily, it seems to bouncing up against the 0.25 Fib Retracement, on the 4H it's the 50 EMA and on the 1H it's R1. What the hell is it going to take to break through this major area of resistance? Maybe some stonking good figures out of the Manufacturing PMI on Monday?
Any suggestions or clues?
  • #395,343
  • Aug 29, 2014 10:04am Aug 29, 2014 10:04am
Long and strong..

(second open trade..)

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  • #395,344
  • Aug 29, 2014 10:07am Aug 29, 2014 10:07am
Quoting albchr
{quote} Oh come now Yardi. Who could have possibly known? You know, ahead of time and all? ... hehe ...
Yes, WHO.... could have known... but I will still sit and enjoy the show towards my TP of 1.6900...nice to see that your not making your 'small account' deter you from holding long positions.... you have grown over last month.... and you have stop using ...good!
Peace & Pips
  • #395,345
  • Aug 29, 2014 10:08am Aug 29, 2014 10:08am
Quoting Toranaga
Long and strong.. (second trade..) {image}
Wich indicator you use?
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #395,346
  • Aug 29, 2014 10:10am Aug 29, 2014 10:10am
Quoting Devonsent
Whilst this has double bottomed on the resistance at around 6535, I firmly expect this to turn back round and go back up, continuing the long term up-trend. However, on the Daily, it seems to bouncing up against the 0.25 Fib Retracement, on the 4H it's the 50 EMA and on the 1H it's R1. What the hell is it going to take to break through this major area of resistance? Maybe some stonking good figures out of the Manufacturing PMI on Monday? Any suggestions or clues?
Actually, now, the third time that it has failed to reak through the 661x resistance in the last two days - looks likely to go back down to 6580 before trying again?
  • #395,347
  • Aug 29, 2014 10:11am Aug 29, 2014 10:11am
Quoting mr-roma
{quote} Wich indicator you use?
No one, the trade is based on what you see..

(and about following Cable in the last 2 Months on daily basis,
saw the cable more than my girlfriend in the last 2 moths..)

ps. btw. Its a Heikin Ashi Chart, so if you want to see HA as a indicator..
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  • #395,348
  • Aug 29, 2014 10:14am Aug 29, 2014 10:14am
Quoting YardiFX
{quote} Yes, WHO.... could have known... but I will still sit and enjoy the show towards my TP of 1.6900...nice to see that your not making your 'small account' deter you from holding long positions.... you have grown over last month.... and you have stop using ...good!
We all learn step by step. It's been a long time coming and I've known for a long time too. I just finally took the step. Thank you sir.

But I still use the ... ... quite often. Only now it's mostly over some of the comments I read. But still, thinking is always good in this or any other business. See you at 6900.
Ghost Rider - WWTBMD?
  • #395,349
  • Aug 29, 2014 10:20am Aug 29, 2014 10:20am
Quoting albchr
{quote} We all learn step by step. It's been a long time coming and I've known for a long time too. I just finally took the step. Thank you sir. But I still use the ... ... quite often. Only now it's mostly over some of the comments I read. But still, thinking is always good in this or any other business. See you at 6900.
Hmmm.................have a good weekend
Peace & Pips
  • #395,350
  • Aug 29, 2014 10:31am Aug 29, 2014 10:31am
Resistance around 1.6600 is being tested a few times. Reckon very short term to test 1.6540 area again before breaking out of this resistance.

However with US being on Labour day on Monday and the news maybe hawkish towards the downside, then we could break this very weak trend line on 1H and test below first before breaking to the upside.

Have a good weekend all.
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  • #395,351
  • Aug 29, 2014 10:31am Aug 29, 2014 10:31am
This is so funny the big boys are having fun today... taking out SL all over the place....
Peace & Pips
  • #395,352
  • Aug 29, 2014 10:40am Aug 29, 2014 10:40am
HDA, any chance you will answer my previous post? thanks

http://www.forexfactory.com/showthre...36#post7705536
Markets wispers, just tune in.
  • #395,353
  • Aug 29, 2014 11:16am Aug 29, 2014 11:16am
he says he has a institutional account

http://www.investopedia.com/ask/answ...alinvestor.asp

you could never build a trading plan like him with retail mindset and funds


Quoting HDA
{quote} @thodie: That is an old post - remember - I moved on to an institutional account - so no more OANDA HDA OUT
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #395,354
  • Aug 29, 2014 11:18am Aug 29, 2014 11:18am
Yesterday I mentioned I took a "partial long" based upon weekly demand location.
Looking @ the daily, price has still not closed above a resistance line or removed a supply zone so the bears have plenty reasons to remain bearish.
First task now for the bulls is a close above 1.6600.
I'll remain "partially long" for now.
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  • #395,355
  • Aug 29, 2014 11:20am Aug 29, 2014 11:20am
but without being argumentative an account like that is for a institution, not one person

Definition - What does Institutional Account mean?
Institutional Account is an account in the name of an institution, operated for the benefit of others, i.e. banks and mutual funds. There is no minimum size for an institutional account.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #395,356
  • Aug 29, 2014 11:24am Aug 29, 2014 11:24am
Quoting Bones
but without being argumentative an account like that is for a institution, not one person Definition - What does Institutional Account mean? Institutional Account is an account in the name of an institution, operated for the benefit of others, i.e. banks and mutual funds. There is no minimum size for an institutional account.
Apples and oranges Bones. Not really important, but any individual can open an institutional account if they meet requirements.

Or maybe my friend is trading from an institution?
The world you desire can be won. It exists.. it is real.. it is possible..
  • #395,357
  • Aug 29, 2014 11:27am Aug 29, 2014 11:27am
well could be ,just main thing is not to get too wrapped up how he trades imo , I'm not being negative just realistic,

Quoting Mr. Scott
{quote} Apples and oranges Bones. Not really important, but any individual can open an institutional account if they meet requirements. Or maybe my friend is trading from an institution?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #395,358
  • Aug 29, 2014 11:29am Aug 29, 2014 11:29am
Quoting Bones
but without being argumentative an account like that is for a institution, not one person Definition - What does Institutional Account mean? Institutional Account is an account in the name of an institution, operated for the benefit of others, i.e. banks and mutual funds. There is no minimum size for an institutional account.
I have accounts traded by other traders that are under the name of a business/institution & not the individual trader. That would be an institutional account as they're trading for the benefit of their clients. HDA is probably trading accounts for clients, & not just his own money.
  • #395,359
  • Edited 1:30pm Aug 29, 2014 11:33am | Edited 1:30pm
Daily

Double Top and Close below Resistance ? What else
  • #395,360
  • Aug 29, 2014 11:35am Aug 29, 2014 11:35am
Quote
Double Top and Close below Resistance ? What else

So what does what mean ?

Except, setting a wrong SL ??
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