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- Chang replied Jun 23, 2008
Cable clearly broken down thru 19600 level. Added a short position. Fingers crossed.
Malaysia
- Chang replied Jun 23, 2008
Looks like the BEAR just went out for a quick lunch (it's lunch time here in London btw) and now he's coming back... Yeah, I agree that the SL is getting pretty close.
Malaysia
- Chang replied Jun 23, 2008
So Sham, did you went long or just waiting right now ? I think you mention about going long in an ealier post. Or maybe I'm imagining things.
Malaysia
- Chang replied Jun 23, 2008
Just curious, how many are currently on the long position and at what level ? I still think it's too early to tell whether it's retracement or reversal.
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Quote: Originally Posted by Chang image Just added another short position at 19637. Let see what happens coz it's getting close to 19623. If it breaks that, will hold till 19600. Traded as per my plan. Out for +37 pips. Now reacting at 19600 ...
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Gone past 1.9616 10minutes ago. Did you do anything ?
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Don't think anyone could answer that for you. Not with any degree of certainty to say the least. The question you should be asking yourself is "Is GU going up from here ?". What does your chart tells you ?
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Serious reaction at 19623 just as expected. Keeping fingers crossed.
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Just added another short position at 19637. Let see what happens coz it's getting close to 19623. If it breaks that, will hold till 19600.
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Provided if the downmove persists, can go to 19623 then 16600 then 19586. Have to reevaluate at each individual level to confirm continuing trend. One good thing tho is that there's no significant news today. So, market sentiment quite unlikely make ...
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
I only use 1H and 10M charts. 1H to identify S&R. 10M for entry and exit and to confirm whether the 1H lines are accurate or not. From what I could see now from 1H chart is that an inside bar is forming. And the 10M shows congestion zone. It's ...
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Not familiar with OzFX SqueezeMore. I personally find using 4H abit too slow to enter or exit a market. So I don't use it at all. I think 1H is mostly what people use here.
Malaysia
- Chang replied Jun 23, 2008
1.9714 critical support. Broke instantly when London market open. This reflect London market sentiment echoing those of Asian market which was also short. I could only get in at 1.9706 since it happens so fast. 1.9669 another critical support. Again ...
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
1.9675 Was that trade taken on last Thursday ? Why did you short at that level (What indicators do you use) ? I think the market broke above that level and went long for 2 continuous day since. Only today showing sign of weakness.
Malaysia
- Chang replied Jun 23, 2008
I think current bias still down. Most likely just a retracement in a long down move. Been a good morning so far. Shorted twice. 19706 out + 37 pips 19667 out + 30 pips If break above 19678, might just develop into a full reversal. Just my thought.
Cable Update (GBPUSD)
- Chang replied Jun 23, 2008
Wow, you're quite brave to let your short running from last week. At what level did you short exactly ?
Malaysia
- Chang replied Jun 22, 2008
SL — My SL is usually around 30 pips and I too trade short term and only in the direction of the trend. I myself never try to pick the top or bottom. Bad experience in the past. And most of the time, I find sudden change of direction mostly ...
Cable Update (GBPUSD)
- Chang replied Jun 22, 2008
SL — Just curious, how far do you usually put your SL ?
Cable Update (GBPUSD)
- Chang replied Jun 22, 2008
Stop loss — I'm not trying to be rude but perhaps the reason your SL getting hit is because the trade was wrong to begin with ? If your SL got hit and then the trade moves in the same direction as before, it only means that your entry timing ...
Cable Update (GBPUSD)
- Chang replied Jun 20, 2008
My trading platform and charting software allows me to. As I speak now, the support line of 1.9762 is being tested and about to break below it.
Malaysia