Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#22,461
Edited 7:00pm Aug 4, 2007 6:25pm | Edited 7:00pm

Warper
| Joined Feb 2007 | Status: The Real Deal | 463 Posts

The FXCM you see on line 63 is their subsidiary now called FXCM Futures LLC

(they changed the name)

Currency Trading is not futures trading... so i'm sure we are with the powerful Forex Capital Markets or no one would call them the all mighty FXCM.

http://www.fxstreet.com/news/forex-n...6-b33d2b519bce

http://www.prlog.org/10024499-fxcm-c...ubsidiary.html

#22,462
Aug 4, 2007 7:28pm Aug 4, 2007 7:28pm

Moe
| Membership Revoked | Joined Mar 2005 | 4,703 Posts

http://www.cftc.gov/files/tm/fcm/tmfcmdata0706.pdf

If I Go Broke Trying Then I Will die happy.

#22,463
Aug 4, 2007 8:57pm Aug 4, 2007 8:57pm

Turtle
| Joined May 2007 | Status: Trader | 4,716 Posts

Quoting wwwin

Disliked

Would u like to seriously study the Head & Shoulder formation?

Ignored

Oh yea.....what time does class begin?????

#22,464
Aug 4, 2007 9:28pm Aug 4, 2007 9:28pm

wwwin
| Joined Oct 2006 | Status: Trader | 1,946 Posts

Quoting Turtle

Disliked

Oh yea.....what time does class begin?????

Ignored

OK, the first graph shows the Head & Shoulders with a rising neckline. When it shows large volume as here, it is very reliable. Once the price goes below the neckline on the right shoulder, very likely to continue down. One of my favorite formations.

Attached Image (click to enlarge)

Click to Enlarge

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#22,465
Aug 4, 2007 10:08pm Aug 4, 2007 10:08pm

Turtle
| Joined May 2007 | Status: Trader | 4,716 Posts

Quoting wwwin

Disliked

OK, the first graph shows the Head & Shoulders with a rising neckline. When it shows large volume as here, it is very reliable. Once the price goes below the neckline on the right shoulder, very likely to continue down. One of my favorite formations.

Ignored

That is awesome....I always was a good student.

#22,466
Aug 4, 2007 10:19pm Aug 4, 2007 10:19pm

benssol
Joined Jan 2007 | Status: Trader | 1,407 Posts

Quoting wwwin

Disliked

OK, the first graph shows the Head & Shoulders with a rising neckline. When it shows large volume as here, it is very reliable. Once the price goes below the neckline on the right shoulder, very likely to continue down. One of my favorite formations.

Ignored

What's your target from this formation?? I feel very hot to take this trade, it seems very profitable

#22,467
Aug 4, 2007 10:22pm Aug 4, 2007 10:22pm

treadline
| Joined Mar 2007 | Status: Trader | 382 Posts

Quoting wwwin

Disliked

OK, the first graph shows the Head & Shoulders with a rising neckline. When it shows large volume as here, it is very reliable. Once the price goes below the neckline on the right shoulder, very likely to continue down. One of my favorite formations.

Ignored

hey be careful. thats my daughter.

heheeh

just kidding

#22,468
Aug 4, 2007 10:24pm Aug 4, 2007 10:24pm

treadline
| Joined Mar 2007 | Status: Trader | 382 Posts

Quoting wwwin

Disliked

OK, the first graph shows the Head & Shoulders with a rising neckline. When it shows large volume as here, it is very reliable. Once the price goes below the neckline on the right shoulder, very likely to continue down. One of my favorite formations.

Ignored

i WILL always go short when it cums to this trade. could never go wrong with my indicators. never go long. short is the best

#22,469
Aug 4, 2007 10:27pm Aug 4, 2007 10:27pm

wwwin
| Joined Oct 2006 | Status: Trader | 1,946 Posts

Quoting benssol

Disliked

What's your target from this formation?? I feel very hot to take this trade, it seems very profitable

Ignored

The target is the distance measured from the top of the head to the breakout point, and this distance is added to the breakout point.

#22,470
Aug 4, 2007 10:29pm Aug 4, 2007 10:29pm

wwwin
| Joined Oct 2006 | Status: Trader | 1,946 Posts

Quoting Turtle

Disliked

That is awesome....I always was a good student.

Ignored

I thought you would like, "Learning TA with Amanda, the easy fun way to master a boring subject". Tomorrow we shall study variations of the H&S.

#22,471
Aug 4, 2007 11:12pm Aug 4, 2007 11:12pm

Turtle
| Joined May 2007 | Status: Trader | 4,716 Posts

Quoting wwwin

Disliked

I thought you would like, "Learning TA with Amanda, the easy fun way to master a boring subject". Tomorrow we shall study variations of the H&S.

Ignored

yes master teacher.......

#22,472
Aug 5, 2007 12:35am Aug 5, 2007 12:35am

Turtle
| Joined May 2007 | Status: Trader | 4,716 Posts

What are your top two news releases that move the GBP/USD????

Interest Rates??? NFP????? CPI????? Bank meeting minutes...etc...etc

Thoughts?????

#22,473
Aug 5, 2007 12:36am Aug 5, 2007 12:36am

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

GU will be heading south, I'll post charts later

Trade what you see, not what you think.

#22,474
Aug 5, 2007 9:32am Aug 5, 2007 9:32am

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Daily chart:

Fibonacci Retracement Levels (1.9622 to 2.0652) & (2.0652 to 2.0181)
2 daily Trendlines drawn

The last daily candle has a long wick above it, but it is still considered a bullish candle. it breached the 23.6 fibo and the other 50.0 fibo, it tried to touch the 61.8 but it failed and came down to close just below the 23.6 and the 50.0 fibo levels. based on the daily, price might go for the support level at 0360 before any upward movements.

http://img405.imageshack.us/img405/8131/guif4.gif

4H chart:

Ok things are more clear here, the last 4H candle shows a reversal starting with that nice pin-bar formation, we will be heading towards 0360, 0290, and 0260, ofcourse we go to the next level if the previous one doesn't support/hold.

http://img520.imageshack.us/img520/3057/gubo9.gif

1H chart:

This chart is also telling us we are in downward move for the moment, the last candle is a bearish engulfing and it has closed below both fibo levels.

http://img111.imageshack.us/img111/296/gufh4.gif