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Cable Update (GBPUSD)

  • #20,261
  • Jul 19, 2007 9:46pm Jul 19, 2007 9:46pm
Quoting treadline
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.
truth fully for weeks my indicator has been telling me to short...lol but it seems to keep going up. those divergences are apalling man. Think price has forgot what a macd divergence is lol. Anyway, i'm not interested in shorting this anymore...at least not yet.
  • #20,262
  • Jul 19, 2007 9:48pm Jul 19, 2007 9:48pm
Quoting dd33
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..
best thing is, when you scale in to 1hr/4hr PA...these long term trendline breaks/bounce makes you pips...good easy pips.
  • #20,263
  • Jul 19, 2007 9:49pm Jul 19, 2007 9:49pm
the only problem I'm seeing is cable is moving like a turtle and that makes ppl imagine support/resistence that doesn't exist
the truth is it's gonna break out soon in wich direction ? only God knows !
I'm keeping my short position open, if it resumes the uptrend so be it! thats why we have stoploss orders
  • #20,264
  • Jul 19, 2007 9:57pm Jul 19, 2007 9:57pm
Quoting dd33
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..
why is this a lousy call? cause it went a few pips past .8800? give me a break think I'll short this pair right here myself thanks for the tip peace!
  • #20,265
  • Jul 19, 2007 9:59pm Jul 19, 2007 9:59pm
Quoting jest1081
best thing is, when you scale in to 1hr/4hr PA...these long term trendline breaks/bounce makes you pips...good easy pips.
Yeah.. the problem is my long term S line is somewhere around 1.9850.. and R line somewhere around 3.0 i guess (cant see them on my chart )

So.. not much use of them rite now..
  • #20,266
  • Jul 19, 2007 10:04pm Jul 19, 2007 10:04pm
Quoting 59fender
why is this a lousy call? cause it went a few pips past .8800? give me a break think I'll short this pair right here myself thanks for the tip peace!
Brother.. that call was made yesterday.. and zoom out ur chart.. u will see that AUD is still climbing and bullish.. to short without S/L on bullish pair need lots of balls..
  • #20,267
  • Jul 19, 2007 10:07pm Jul 19, 2007 10:07pm
Quoting dd33
Yeah.. the problem is my long term S line is somewhere around 1.9850.. and R line somewhere around 3.0 i guess (cant see them on my chart )

So.. not much use of them rite now..
D,

Sr is not as far as you think they are...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 37 KB
  • #20,268
  • Jul 19, 2007 10:15pm Jul 19, 2007 10:15pm
the journey north has just resumed

http://img102.imageshack.us/img102/9938/guzd8.jpg
  • #20,269
  • Jul 19, 2007 10:15pm Jul 19, 2007 10:15pm
Quoting jest1081
D,

Sr is not as far as you think they are...
Wow.. never used it that way before.. seems very interesting.. thanx a lot Jest.. will look into it and add it to my arsenal..
  • #20,270
  • Jul 19, 2007 10:18pm Jul 19, 2007 10:18pm
Buy 2.0489
TP 2.0520
  • #20,271
  • Jul 19, 2007 10:21pm Jul 19, 2007 10:21pm
This is the price channel that I see beng breached
Attached Image (click to enlarge)
Click to Enlarge Name: trendbrake.jpg Size: 59 KB
  • #20,272
  • Jul 19, 2007 10:47pm Jul 19, 2007 10:47pm
Technically, i believe GU will go up today,

Buy GU @ 2.0480
Target Profit @ 2.0530-2.0540
Stop Loss @ 2.0430
  • #20,273
  • Jul 19, 2007 11:30pm Jul 19, 2007 11:30pm
I suggest to trade the pair in a good sight:

If the pair approaches 2.0500 level, go buy...

If the pair moves below 2.0470 level, be careful...and maybe you may ride the correction down to 2.0430 (61.8% fibo retracement of 60min chart)

Any suggestion?! May be fundamental?
Hello World
  • #20,274
  • Jul 19, 2007 11:36pm Jul 19, 2007 11:36pm
Quoting davidtong
Technically, i believe GU will go up today,

Buy GU @ 2.0480
Target Profit @ 2.0530-2.0540
Stop Loss @ 2.0430
Another clown? Lately seeing a lot newbie drop by and giving advice.

LOL, first at all, what you mean by "technically'?

Technical have nothing to do with FOREX, as it is purely based on speculation.

You can have all sort of charts, showing it SHOULD go here or there, but in the end it is ALWAYS not TRUE.
  • #20,275
  • Jul 19, 2007 11:37pm Jul 19, 2007 11:37pm
Quoting soros_junior
the journey north has just resumed
Wow.. u'r back.. btw.. soros_jr.. what happened to ur 2.1000 by the end of the week??
  • #20,276
  • Jul 19, 2007 11:39pm Jul 19, 2007 11:39pm
LOL.. i want to give advise here too..

I see from my chart.. Cable will go.. RIGHT..
100% money back guaranteed.. unless ur chart is offline..
  • #20,277
  • Jul 19, 2007 11:41pm Jul 19, 2007 11:41pm
Quoting dd33
LOL.. i want to give advise here too..

I see from my chart.. Cable will go.. RIGHT..
100% money back guaranteed.. unless ur chart is offline..
  • #20,278
  • Jul 19, 2007 11:44pm Jul 19, 2007 11:44pm
I want to give advice too.

BUY GU @ 2.1000, sure hit today... (LOL)
SELL GU @ 2.0000, sure down to 1.9700 (LOLx2)

If in between - don't do anything.
  • #20,279
  • Jul 20, 2007 12:01am Jul 20, 2007 12:01am
Quoting dd33
LOL.. i want to give advise here too..

I see from my chart.. Cable will go.. RIGHT..
100% money back guaranteed.. unless ur chart is offline..
))
  • #20,280
  • Jul 20, 2007 12:22am Jul 20, 2007 12:22am
Quoting zamans98
Another clown? Lately seeing a lot newbie drop by and giving advice.

LOL, first at all, what you mean by "technically'?

Technical have nothing to do with FOREX, as it is purely based on speculation.

You can have all sort of charts, showing it SHOULD go here or there, but in the end it is ALWAYS not TRUE.
Pardon my french, and again exuce me for being blunt, if technicals have nothing to do with forex (short term), long term we have global Fundamentals come into play, than why do we have suport/resistance, trend lines, etc., etc...

Let me be clear, do you enter the market on a whim?! Or do you use some logic behind it? Well the logic is either technical or fundamental, or perhaps both, confluence of factors. The only thing that separates the good traders from the bad is a constant learning and evolution, market changes, if you want to succeed you should as well. Everyone is different but 3 things are constant with everyone who makes money trading. A clear and structured game plan/your path to success, cold head/no emotions and third and foremost your own trading strategy developed and based upon all of the material that is worth reading and studing about this market.
Forex is a zero sum game, if you loose money, someone else makes it, if they make it consistently that means they are simply able to be better than you, make and execute better decisions consistently
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