Author Topic: Cable (Read 3314 times)

ajik · « **Reply #30 on:** May 18, 2009, 02:05 PM »

Sir, I'm looking at the Daily Charts. I'm focusing on the AUD, yung GBP po ay confusing, red padin ang candlestick formations (on most timeframes) kahit ndi nabuo yung dark cloud cover sa Daily charts, which is a usually strong downtrend indicator.

AUD/USD
Tama ka, sa H4 lower highs nga and lower lows. Mas evident ito kaysa sa GBP/USD.
But I'm thinking if it can retain its position above 0.7450, ndi matutuloy ang downtrend. Formations are green din (on most time frames). The "piercing line" is the opposite of the "dark cloud cover", it's a strong indicator daw, so we'll see. haha.

I was only guessing that AUD will somehow affect the GBP, since GBP's unclear for me. Testing na nga ang GBP sir on the support you said 1.5100. Magtagumpay kaya ang siege?

Quote from: beast_master on May 18, 2009, 11:32 AM

News related events seem to have little influence today so it's all about price action.

Thanks sir for this insight. So, walang abnormal na akyatan o babaan. hehe. What better time to test.

beast_master · « **Reply #31 on:** May 18, 2009, 08:52 PM »

^Yeah, you were right with your first assumption. Nahiya nga sila bumagsak. hehe Kaya lang I hesitated when it showed some signs of a rally early on, I wanted to be sure so I got in with my long medyo late na din I just waited for the 3PM candle to close but still manage to hit some pips. As for AUDUSD well, that was a heck of a rally. I hope you did get in.

ajik · « **Reply #32 on:** May 19, 2009, 08:28 AM »

^tsambalogs! hehe. Just closed my AUD on the dukascopy demo @+120pips. I'm testing long term sir, inggit ako ke sir lightwind. Piercing line should've been really piercing light against a dark cloud cover. Kaya kayang tumuloy ng 0.7700? if so, then a piercing line formation will have really proven itself yet again.

I did nothing for the Cable, after all, yesterday was Monday, and so I'm out of it. Today, I don't know. Busy na po ulit sa trabaho eh. Goodday sir!

beast_master · « **Reply #33 on:** May 19, 2009, 09:52 AM »

^ oh good! 120 pips, that's a lot.

If your testing the AUDUSD for a long term trade you picked the right pair. I have an open trade with this pair for 2 months already and I plan to stick with it as long as possible. Also check out AUDjpy. nice candidate for a long term trade.

ajik · « **Reply #34 on:** May 19, 2009, 11:39 AM »

Thanks sir! wow! 2 mos na! malaki-laking kapital yan! It should be very rewarding too! Exotics talaga for long-term ah.

Sir, I want to train myself for longer-term set ups. Ayan at least I have a clearer objective on why and how I will be able to profit from this market. I want to save up for it too. I think it's where online forex can really get profitable & it can also be the answer to the new NFA rule against hedging (ndi ko na siya masyado iisipin). Intraday's exciting, rewarding and all that, but very stressful and time-consuming, may need more complex analysis too.

will concentrate on (1) AUD/USD, try (3)AUD/JPY,
and my usual pets (4) EUR/USD and (2)GBP/USD. ayan concentrate ako sa apat na yan.
Thanks sir!

There's another piercing line on the AUD/USD H4 chart, there's a siege on-going. Will it break 0.7700? haha. Mostly green din ang Cable, but rather late nako and GBP Daily Stochs are nearing Oversold.

beast_master · « **Reply #35 on:** May 19, 2009, 03:29 PM »

^di naman 2 minilots lang yung long term ko na yun. Iba account gamit ko sa long term trades para di magulo.

If you want to train your eyes with long term trades that's a very good way to start. In fact I couldn't think of a better way to get your feet wet with forex than to go long term.

Intraday or short term term trades are very risky especially if you are a market neutral trader like me. But I find it challenging. It has been my playground ever since and I learned a lot. You must have strong rules for exits and entries. No ifs no buts. The opinion of the price action is the only thing that matters which also means the opinions of the so called "experts" are all just a bunch of BS to me. I guess one of the advantages of having this kind of exposure is that you learn to be nimble. You develop instincts that can lead to quick decisions. This is also where I've learned to make 3 plans for every trade. Literally written plans so I won't forget. Plan A, Plan B or Plan C. If price doesn't follow plan A , go to plan B or Plan C. Plan A = long, Plan B = short, Plan C=stay out. hehehe