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Cable Update (GBPUSD)

  • #47,661
  • Jan 2, 2008 3:47am Jan 2, 2008 3:47am
1.9840 SHORT 6LOT
  • #47,662
  • Jan 2, 2008 3:47am Jan 2, 2008 3:47am
Quoting AmeriTrini
you also said, "that's it" meaning exactly what?
when market does not react like it should in specific occasion means market has the opposite direction in mind.. simple like this, don't forget tonight ' s FOMC minutes for US.
  • #47,663
  • Jan 2, 2008 3:48am Jan 2, 2008 3:48am
Quoting forexguru
when market does not react like it should in specific occasion means market has the opposite direction in mind.. simple like this, don't forget tonight ' s FOMC minutes for US.
interest rates?..........
  • #47,664
  • Jan 2, 2008 3:50am Jan 2, 2008 3:50am
Quoting AmeriTrini
interest rates?..........
yes you are smart
  • #47,665
  • Jan 2, 2008 3:50am Jan 2, 2008 3:50am
Quoting Qu|cksilver
Up cable Up!!
Attached Image
  • #47,666
  • Jan 2, 2008 3:56am Jan 2, 2008 3:56am
becareful with long my things telling me it should go down today anytime downride can start
  • #47,667
  • Jan 2, 2008 3:56am Jan 2, 2008 3:56am
till cable below 1.9887 ... the trend in down
  • #47,668
  • Jan 2, 2008 3:58am Jan 2, 2008 3:58am
.....
Attached Image (click to enlarge)
Click to Enlarge Name: saadasee.JPG Size: 868 KB
  • #47,669
  • Jan 2, 2008 3:59am Jan 2, 2008 3:59am
Quoting deboooo2005
till cable below 1.9887 ... the trend in down
interest rates trumps any fundamental report!!
  • #47,670
  • Jan 2, 2008 4:04am Jan 2, 2008 4:04am
hopefully will go down to 1.09810 so I can buy
  • #47,671
  • Jan 2, 2008 4:16am Jan 2, 2008 4:16am
Quoting Bones
Hi
I think its ready to stop.I would look for longs until the break of fib 1.9750 (as below) which happens to be about the recent swing low . I would prefer to go long just off long term gold up trend line from April 06 to say Fibo 1.9974 with stop loss just under 1.9750 . Should be a retrace from here how far depends on news.Go with the Fibos if your wrong Hedge .Its like Sky Plus it pause's the situation and gives you time to review your charts rather than point a blank stop.

Anyone who says fibs do not work just look at attached!!
Looks like my prediction from Monday of a bounce from the gold line was correct it stopped at 1.9785 almost exactly on the fib before it on H1
If I zoom out to the daily that exact same gold line has held the daily candle to the dot.
I have not altered it since Monday and attach it with the Gold line
I got up late today to many beers last night so did not benefit from this foresight though!!
I attach my H1 and have altered the fib very slightly (3pips so 161.8 is exactly on the 1.9785) and I think the fib sits very well on the graph.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily bounce from 1.9786.gif Size: 17 KB
Click to Enlarge Name: 1h bounce from 1.9786.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,672
  • Jan 2, 2008 4:20am Jan 2, 2008 4:20am
Quoting forexguru
hopefully will go down to 1.09810 so I can buy
you are getting your wish.
  • #47,673
  • Jan 2, 2008 4:22am Jan 2, 2008 4:22am
Becarefull with short.
Long still in play.
"Invest With The Insiders, Not The Masses" George Muzea
  • #47,674
  • Jan 2, 2008 4:26am Jan 2, 2008 4:26am
Quoting AmeriTrini
you are getting your wish.
I bought already at 30's .. do not see to go lower
  • #47,675
  • Jan 2, 2008 4:28am Jan 2, 2008 4:28am
Triggered another long at 1.9827
stoploss 20 pip.
"Invest With The Insiders, Not The Masses" George Muzea
  • #47,676
  • Jan 2, 2008 4:28am Jan 2, 2008 4:28am
Quoting Qu|cksilver
Triggered another long at 1.9827
stoploss 20 pip.
it would be good to go more down so I will buy more....
  • #47,677
  • Jan 2, 2008 4:29am Jan 2, 2008 4:29am
Quoting Bones
Looks like my prediction from Monday of a bounce from the gold line was correct it stopped at 1.9785 almost exactly on the fib before it on H1
If I zoom out to the daily that exact same gold line has held the daily candle to the dot.
I have not altered it since Monday and attach it with the Gold line
I got up late today to many beers last night so did not benefit from this foresight though!!
I attach my H1 and have altered the fib very slightly (3pips so 161.8 is exactly on the 1.9785) and I think the fib sits very well on the graph.

I CLOSED MY LONG WITH 30 PIPS LOSS
WHEN SHOULD BE THE NEXT ENTRY POINT?
  • #47,678
  • Jan 2, 2008 4:33am Jan 2, 2008 4:33am
down cable down so I will buy you
  • #47,679
  • Jan 2, 2008 4:36am Jan 2, 2008 4:36am
Quoting TraderJR
Could you explain this in some detail.

Fibs are great for setting potential price levels but how do you decide which one to heed and which to ignore?
I am really not an expert mate but what I look for depending on the time frame I am trading is the last 2 biggest moves up and down. I apply the fibs to them the down can predict the up and up down. The fib expansion only works as far as I know around the 50% retrace, its not valid if it retraces to far and 50 is ideal.
I have been getting my general plans from larger timeframes and then zooming in.


Hope this helps
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,680
  • Jan 2, 2008 4:38am Jan 2, 2008 4:38am
its snowing out here nice view isnt it?
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1279.jpg Size: 473 KB
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