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Cable Update (GBPUSD)

  • #396,221
  • Sep 3, 2014 10:29am Sep 3, 2014 10:29am
thank you 2012mysterio-I did exactly what you suggest-took profit and reenter short @64683-so far so good
  • #396,222
  • Sep 3, 2014 10:32am Sep 3, 2014 10:32am
Bought one lot GA.

The ADR is 90 pips.

Today it moved down 177 pips.

Move to 1.7650 is the target for me.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM5.png Size: 73 KB
Intraday only.
  • #396,223
  • Sep 3, 2014 10:34am Sep 3, 2014 10:34am
Quoting openyoureyes
{quote} if you trade pairs/crosses, check: EUR/NZD EUR/AUD GBP/AUD GBP/NZD AUD/CHF NZD/CHF don't trade all at once, short GBP - EUR after news. same with me, I can't trade E/U - G/U with this trade range
I lost intrest in trading GU, EU long ago.

These days, I trade EN, GA, GJ, EA only.
Intraday only.
  • #396,224
  • Sep 3, 2014 10:35am Sep 3, 2014 10:35am
wow ,isn't that telling you something about today ?

Quoting navk
Bought one lot GA. The ADR is 90 pips. Today it moved down 177 pips. Move to 1.7650 is the target for me. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #396,225
  • Edited 10:47am Sep 3, 2014 10:36am | Edited 10:47am
Quoting cspip
{quote} It'll may go up from here to 1.6505
I have 1.64755, but not taking chance with LONG, Will SHORT from there ( Now that the Low was broken, Long is History)


Now to Target this
Quoting ill_be_back
{quote} Max DOWN I have is 1.58837,
A good trader follows his rules, but great trader knows when to break them
  • #396,226
  • Sep 3, 2014 10:39am Sep 3, 2014 10:39am
Quoting Bones
wow ,isn't that telling you something about today ? {quote}
Some peoples kids, right? smh
  • #396,227
  • Sep 3, 2014 10:39am Sep 3, 2014 10:39am
Quoting cspip
{quote} It'll may go up from here to 1.6505
Agree...without news...its could be stop hunt. anyway anything could happen.

personaly... i will short from 16500-16530 not from here.
While knowledge speak up, the wisdom listen down
  • #396,228
  • Sep 3, 2014 10:40am Sep 3, 2014 10:40am
Quoting Bones
wow ,isn't that telling you something about today ? {quote}

To me yes, what it is telling you.
Intraday only.
  • #396,229
  • Sep 3, 2014 10:42am Sep 3, 2014 10:42am
it tells me that trade even if ok ,is at the highest risk possible

Quoting navk
{quote} To me yes, what it is telling you.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp AUD d1 (DFB).png Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #396,230
  • Sep 3, 2014 10:43am Sep 3, 2014 10:43am
Quoting navk
{quote} To me yes, what it is telling you.

main move is down and the fact that it has exceeded ADR means it has conviction..i guess too u bro u see exhaustion in the move hence the buy..i can also see from yur indicators that u perhaps see bullish diverence as well to support the buy

wish u luck buddy
  • #396,231
  • Sep 3, 2014 10:47am Sep 3, 2014 10:47am
Quoting Bones
it tells me that trade even if ok ,is at the highest risk possible {quote} {image}
I do agree that it is looong bear candle, with 180 pips down today.

To me it is safe to go opposite if the ADR level is broken and far away fron that level.

The next day after such move will most probably a choppy move but minimum 23 % retracement can be expected and safe to me. Let us see how it goes
Intraday only.
  • #396,232
  • Sep 3, 2014 10:49am Sep 3, 2014 10:49am
Quoting navk
{quote} I do agree that it is looong bear candle, with 180 pips down today. To me it is safe to go opposite if the ADR level is broken and far away fron that level. The next after such move will most probably a choppy move but minimum 23 % retracement can be expected and safe to me. Let us see how it goes
As long as you have your target(23%), I think u are good ( But I would move my SL to BE ASAP)
A good trader follows his rules, but great trader knows when to break them
  • #396,233
  • Sep 3, 2014 10:52am Sep 3, 2014 10:52am
Hi Navk ,i wish you luck , adr to me is not that important ,but I do know some use it like that ,

Quoting navk
{quote} I do agree that it is looong bear candle, with 180 pips down today. To me it is safe to go opposite if the ADR level is broken and far away fron that level. The next day after such move will most probably a choppy move but minimum 23 % retracement can be expected and safe to me. Let us see how it goes
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #396,234
  • Sep 3, 2014 10:59am Sep 3, 2014 10:59am
Quoting ill_be_back
{quote} As long as you have your target(23%), I think u are good ( But I would move my SL to BE ASAP)
Yeah, some use this, but I do not use this BE function and try to book profit only, and until now the ADR concept works very well for me.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM5.png Size: 74 KB
Intraday only.
  • #396,235
  • Sep 3, 2014 11:07am Sep 3, 2014 11:07am
Quoting navk
{quote} Yeah, some use this, but I do not use this BE function and try to book profit only, and until now the ADR concept works very well for me. {image}
A good trader follows his rules, but great trader knows when to break them
  • #396,236
  • Sep 3, 2014 11:10am Sep 3, 2014 11:10am
Quoting Hickson
{quote} That is quite a call ... is it fundamentally so weak? New week could bring suprises.
A good trader follows his rules, but great trader knows when to break them
  • #396,237
  • Sep 3, 2014 11:16am Sep 3, 2014 11:16am
Quoting Bones
Hi Navk ,i wish you luck , adr to me is not that important ,but I do know some use it like that , {quote}
You said taking a trade like this extremely risky, I feel other way.

If you notice all the PA it will be like this.

One day extremely over sold, next day retracement 23 to 38 %.

Then it will to test previous day low and even it breaks it, But still safe to go long.

See for instance what happened with EURNZD.

Yesterday and today PA.

Yesterday the pair moved up by 170 pips.

The ADR IS 90 pips. Today the range is just 60 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDM5.png Size: 85 KB
Intraday only.
  • #396,238
  • Sep 3, 2014 11:19am Sep 3, 2014 11:19am
Quoting navk
{quote} You said taking a trade like this extremely risky, I feel other way. If you notice all the PA it will be like this. One day extremely over sold, next day retracement 23 to 38 %. Then it will to test previous day low and even it breaks it, But still safe to go long. See for instance what happened with EURNZD. Yesterday and today PA. Yesterday the pair moved up by 170 pips. The ADR IS 90 pips. Today the range is just 60 pips. {image}
Was it safe to go short in EN today or no ?
Intraday only.
  • #396,239
  • Sep 3, 2014 11:21am Sep 3, 2014 11:21am
Another tip.

GA when I took long trade, was in RN ( Round number ) 1.7600 level.
Intraday only.
  • #396,240
  • Sep 3, 2014 11:40am Sep 3, 2014 11:40am

  1. Aug 21, 2014 8:25am

Quoting erap
Next ..... 1.6416 ...... 1.6252 ?

This friday 5 Sept NFP ??
Attached Image (click to enlarge)
Click to Enlarge Name: Capturegu.JPG Size: 103 KB
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