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Cable Update (GBPUSD)

  • #2,341
  • Dec 18, 2006 11:26am Dec 18, 2006 11:26am
Look what happened to cable in the last two weeks of 2005 - total collapse after a big run up. The same thing is about to happen in the next two weeks - all the way to 1.9150.
  • #2,342
  • Dec 18, 2006 11:37am Dec 18, 2006 11:37am
Quoting notouch
Look what happened to cable in the last two weeks of 2005 - total collapse after a big run up. The same thing is about to happen in the next two weeks - all the way to 1.9150.
Let's just trade what we see... I agree with you that it could happen and the reason for it to happen is a solid one as well (Funds getting "flat" for years end), but it is not a for sure thing. Price will do what it wants and lets just be ready to profit from it (either way it goes), but I don't think such a bold statement is necessary as nobody knows what price will do in the next few weeks or the next few hours as far as that goes. I wouldn't mind if it did tank though. Good luck!
  • #2,343
  • Dec 18, 2006 11:58am Dec 18, 2006 11:58am
Yeah just play the charts, in what ever time frame your interested in, building yourself a bias, even though the bias will work 50% of the time, is not good for my mind set.

Why I also don't get into reading news
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,344
  • Dec 18, 2006 12:01pm Dec 18, 2006 12:01pm
this is disgusting... 8 pips up?
  • #2,345
  • Dec 18, 2006 12:04pm Dec 18, 2006 12:04pm
yea right a confusing report. Mixed numbers again the story of the US reports
Quoting cesarnc
this is disgusting... 8 pips up?
  • #2,346
  • Dec 18, 2006 12:05pm Dec 18, 2006 12:05pm
Housing didn't do much. Had a good night so am going to enjoy the sunshine in Southern CA. Will see where the market takes us tonight. Everyone have a good day and Merry Christmas !!
  • #2,347
  • Dec 18, 2006 12:07pm Dec 18, 2006 12:07pm
This week is gonna be all about Xmas shopping and Thu's GDPs... Now THAT's gonna be Rock'n'Roll...

Gym + Xmas shopping. Cya!
  • #2,348
  • Dec 18, 2006 12:07pm Dec 18, 2006 12:07pm
I think it is time to close the shop
  • #2,349
  • Dec 18, 2006 12:09pm Dec 18, 2006 12:09pm
Quoting mmccormac
Let's just trade what we see... I agree with you that it could happen and the reason for it to happen is a solid one as well (Funds getting "flat" for years end), but it is not a for sure thing. Price will do what it wants and lets just be ready to profit from it (either way it goes), but I don't think such a bold statement is necessary as nobody knows what price will do in the next few weeks or the next few hours as far as that goes. I wouldn't mind if it did tank though. Good luck!
You're right. I trade medium term and I've been short since 1.98 so I'm just hoping for the best. I'm not sure I would open a new position now because we're half way between medium term support and resistance. I think the odds favour shorts though. Thin holiday markets can lead to either boring ranges or wild collapses caused by stops falling. I'm hoping Santa will bring me the latter.
  • #2,350
  • Dec 18, 2006 12:11pm Dec 18, 2006 12:11pm
Quoting cesarnc
This week is gonna be all about Xmas shopping and Thu's GDPs... Now THAT's gonna be Rock'n'Roll...

Gym + Xmas shopping. Cya!
Not to burst your bubble but that's just final GDP (Not usually a big mover)... The Forward GDP is the one that can move price 50-150 pips.

We can always hope though.
  • #2,351
  • Dec 18, 2006 12:14pm Dec 18, 2006 12:14pm
i am hanging in for a bit with this today. We just tiptoed past the 9461 barrier..I wonder if we are going to get caught and sent back to the other side of the fence, or finally break free for the day?
  • #2,352
  • Dec 18, 2006 12:15pm Dec 18, 2006 12:15pm
Quoting notouch
You're right. I trade medium term and I've been short since 1.98 so I'm just hoping for the best. I'm not sure I would open a new position now because we're half way between medium term support and resistance. I think the odds favour shorts though. Thin holiday markets can lead to either boring ranges or wild collapses caused by stops falling. I'm hoping Santa will bring me the latter.
I agree that we are in a down trend... But watch price when it gets around 9340.

That's the 50% retrace from the 11/17-12/01 move, and it's also the 38% retrace from the 10/11-12/1 larger bull run. Good Luck and good job already on that position!
  • #2,353
  • Dec 18, 2006 12:17pm Dec 18, 2006 12:17pm
Finally I am done 117 pips on the short and 22 pips on the long I just closed. Look to sell at 1.9485 - 1.9500. Have a good day or night
Quoting cesarnc
This week is gonna be all about Xmas shopping and Thu's GDPs... Now THAT's gonna be Rock'n'Roll...

Gym + Xmas shopping. Cya!
  • #2,354
  • Dec 18, 2006 12:24pm Dec 18, 2006 12:24pm
what will happen?!

price reached to 1.9480!!!
  • #2,355
  • Dec 18, 2006 1:22pm Dec 18, 2006 1:22pm
Here is my last trade. This is a very good scapling system. Set your BB band at 18 - Close - 2 Deviation, a 3 EMA Close, MACD - Set 8-18-9, RSI -14. When 3 ema crosses the center BB band and the MACD bar is above zero and the RSI is above 50 go long. The Stoch is set at 9-3-3 and is used to exit when it is 80 and breaks 80 itis a good time to exit the trade. Start with 5 to 10 pips till u get the hang of it. Do the oppisite for a short. Happy trading
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  • #2,356
  • Dec 18, 2006 1:52pm Dec 18, 2006 1:52pm
Quoting m_j_1984
what will happen?!

price reached to 1.9480!!!
Getting ready to go down
  • #2,357
  • Dec 18, 2006 1:59pm Dec 18, 2006 1:59pm
Quoting dobbie11
Here is my last trade. This is a very good scapling system. Set your BB band at 18 - Close - 2 Deviation, a 3 EMA Close, MACD - Set 8-18-9, RSI -14. When 3 ema crosses the center BB band and the MACD bar is above zero and the RSI is above 50 go long. The Stoch is set at 9-3-3 and is used to exit when it is 80 and breaks 80 itis a good time to exit the trade. Start with 5 to 10 pips till u get the hang of it. Do the oppisite for a short. Happy trading
Sorry but i can't view ur chart clearly, what time frame is that set on?
  • #2,358
  • Dec 18, 2006 2:02pm Dec 18, 2006 2:02pm
For you!
Don't misunderstood me please.
I had almost the same idea on using mid BB and MA cross. so i like your system and i want to know more off it.But..

If you think you system is good. I suggest you open a journal and explain a little bit more... Its easy to pick 1 or 2 trade that work and show to people, but theres is a lot more to it.
False signal . How do you manage them?

Quoting dobbie11
This is a very good scapling system.
Sorry for my bad english translation
  • #2,359
  • Dec 18, 2006 2:23pm Dec 18, 2006 2:23pm
1st question it is a one min. chart. I trade with the trend of when I think there is a reversal, base on price action, S&R and Fibs is a great time to use it. Here is the chart again in a zip file, hope this helps. Aslo very good to use to get into a trend when u come in late. Catch the trend on your 60 min, 15,min, 5 min and then this to enter.
Quoting Zeuzere
For you!
Don't misunderstood me please.
I had almost the same idea on using mid BB and MA cross. so i like your system and i want to know more off it.But..

If you think you system is good. I suggest you open a journal and explain a little bit more... Its easy to pick 1 or 2 trade that work and show to people, but theres is a lot more to it.
False signal . How do you manage them?
Attached File(s)
File Type: zip 1 min scalp.zip   19 KB | 439 downloads
  • #2,360
  • Dec 18, 2006 2:27pm Dec 18, 2006 2:27pm
Quoting dobbie11
Here is my last trade. This is a very good scapling system. Set your BB band at 18 - Close - 2 Deviation, a 3 EMA Close, MACD - Set 8-18-9, RSI -14. When 3 ema crosses the center BB band and the MACD bar is above zero and the RSI is above 50 go long. The Stoch is set at 9-3-3 and is used to exit when it is 80 and breaks 80 itis a good time to exit the trade. Start with 5 to 10 pips till u get the hang of it. Do the oppisite for a short. Happy trading
Hi
thank u for sharing
Are my setting is correct ?
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