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Cable Update (GBPUSD)

  • #20,241
  • Jul 19, 2007 10:29pm Jul 19, 2007 10:29pm
Quoting Mina
and what evidence do u have to support this assumption?
Go back to M30 chart and have a look yourself.
  • #20,242
  • Jul 19, 2007 10:33pm Jul 19, 2007 10:33pm
have a look
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  • #20,243
  • Jul 19, 2007 10:37pm Jul 19, 2007 10:37pm
Quoting dd33
I wonder where is soros_jr.. bragging so confidently bout cable flying to the star.. but remains silent when cable having a bit correction / retracement.. ITS FRIDAY.. END OF WEEK.. time for cable to reach 2.1000.. err.. may be 2.0800.. err.. make it 2.0600.. err.. nope.. 20500 may be??
Not denying the fact that he is not wrong abt the direction...maybe a little too enthusiactic? lol.

Im just bored i cant find a nice long entry for the past few weeks, what did i do? i did the most noobish thing a newbie(im still a noob) could do...i shorted the trend...not implying that shorting it is wrong, just that i din get to manage the trade well, still a long long road to perdition.
  • #20,244
  • Jul 19, 2007 10:40pm Jul 19, 2007 10:40pm
usually I dnt look lower than h1 but you may be right on this one
  • #20,245
  • Jul 19, 2007 10:42pm Jul 19, 2007 10:42pm
I didn't use to look lower than 1 hour either...but I learned that the 1 min chart can tell a story that is undeniable if you can make out what it is saying...
  • #20,246
  • Jul 19, 2007 11:06pm Jul 19, 2007 11:06pm
Quoting SunTrader
Well what is that based on? Cable has been hugging a 20,2,2 period Bollinger Band the whole way up from late June. Why short now? We haven't even traded under the low from 2 days ago, yet.
That's the signal I am getting from MetaStock Bollinger Band
  • #20,247
  • Jul 19, 2007 11:06pm Jul 19, 2007 11:06pm
Quoting jest1081
Not denying the fact that he is not wrong abt the direction...maybe a little too enthusiactic? lol.

Im just bored i cant find a nice long entry for the past few weeks, what did i do? i did the most noobish thing a newbie(im still a noob) could do...i shorted the trend...not implying that shorting it is wrong, just that i din get to manage the trade well, still a long long road to perdition.
Agreed.. at least he still go with the trend.. but with an attitude like that.. go with the trend still can get urself burned big time..


Yeah.. cable's been boring this few hours.. but like what they said.. slow period like this usually followed by a stormy breakout.. patience is the key..
  • #20,248
  • Jul 19, 2007 11:10pm Jul 19, 2007 11:10pm
Quoting zamans98
support line = 2.0470.
That's is the rising support line that I had, which it broke recently
  • #20,249
  • Jul 19, 2007 11:12pm Jul 19, 2007 11:12pm
Quoting krishna
thanks for compliments,

one more trade suggestion golden oppurtunity,

sell aud usd at .8800 n take profit at .8720

audusd is always my favourite,i m on the trade n wil let u why if i get my profit,
n also it will be urs too when i will explain u why it is my facourite,

lord of fx"
Lousy call on his so called favorite pair.. btw.. i wonder how's venci doing.. betting all on this call.. not to mention without stop loss.. hope he's ok..
  • #20,250
  • Jul 19, 2007 11:14pm Jul 19, 2007 11:14pm
Quoting wwwin
That's is the rising support line that I had, which it broke recently
I never believed in trend lines.. everyone can see the same thing and draw a very different trend lines.. I prefer to go with S/R area.. (horizontal lines) and in this case.. hasnt broke yet..
  • #20,251
  • Jul 19, 2007 11:17pm Jul 19, 2007 11:17pm
Quoting dd33
I never believed in trend lines.. everyone can see the same thing and draw a very different trend lines.. I prefer to go with S/R area.. (horizontal lines) and in this case.. hasnt broke yet..
weekly and monthly trendlines are good..its easier to trade a bounce or break on them.
  • #20,252
  • Jul 19, 2007 11:25pm Jul 19, 2007 11:25pm
Quoting dd33
I never believed in trend lines.. everyone can see the same thing and draw a very different trend lines.. I prefer to go with S/R area.. (horizontal lines) and in this case.. hasnt broke yet..

I don't use trendlines either, but they can be great targets for stop-runs. Fade the stop run at the obvious trendline and it can work out to be a very good R:R ratio, as well as win to loss ratio. These work the best for me on 4 hour charts.
  • #20,253
  • Jul 19, 2007 11:27pm Jul 19, 2007 11:27pm
Quoting Mina
why do u think 481 is a support area ? just beacuse I sold at 481 doesn't make it a support area

just look at your h4 and daily to see what i see. it has problems penetrating that support.
  • #20,254
  • Jul 19, 2007 11:30pm Jul 19, 2007 11:30pm
Quoting dd33
I never believed in trend lines.. everyone can see the same thing and draw a very different trend lines.. I prefer to go with S/R area.. (horizontal lines) and in this case.. hasnt broke yet..
You can miss a lot of good trades or pips if you only trade on horizontal brakes
  • #20,255
  • Jul 19, 2007 11:31pm Jul 19, 2007 11:31pm
Quoting Mina
and what evidence do u have to support this assumption?

look!!! open up your trade program and look for yourself and see a line on the 4h and daily. you will see that it has problems there.
  • #20,256
  • Jul 19, 2007 11:36pm Jul 19, 2007 11:36pm
not to be cynical to shorts...coz i've been doing the same thing too. lol

but its quite clear that we should be looking for an entry which is sorta long?
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  • #20,257
  • Jul 19, 2007 11:37pm Jul 19, 2007 11:37pm
got a question for you fundemental guys. on the gdp, if the forecast is the same as the previous, does that mean the pound will be bearish or not? i dont study fundementals so its hard for me to understand them. thanks
  • #20,258
  • Jul 19, 2007 11:40pm Jul 19, 2007 11:40pm
Quoting jest1081
not to be cynical to shorts...coz i've been doing the same thing too. lol

but its quite clear that we should be looking for an entry which is sorta long?

both the 4h and daily are showing short according to my indicator. so hopefully i will see it go down on this pair. could be wrong but thats my analysis anyways.
  • #20,259
  • Jul 19, 2007 11:43pm Jul 19, 2007 11:43pm
im not a fundamental guy but do have a personal view? um last interest rate hike suggest that pound will still go higher. Some might say that it has already been factored in, the overreaction could fuel further price appreciation, plus monthly trend has not suggested any lag in fundamentals, at least not yet.
  • #20,260
  • Jul 19, 2007 11:45pm Jul 19, 2007 11:45pm
Quoting jest1081
weekly and monthly trendlines are good..its easier to trade a bounce or break on them.
Agreed.. longer term trendline (daily, weekly, monthly) is more reliable than short term trendline (especially below D1). I use them to see how the trend is going.. On TF below D1 i prefer "horizontal brakes".

This is my chart look like on long term trendline..
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