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Cable Update (GBPUSD)

  • #51,041
  • Jan 25, 2008 4:51am Jan 25, 2008 4:51am
need to just watch!



Quoting forexguru
Hello designer,

you should study also fundamentals not only technical. The bullish bias is very strong, what makes you think that forex is going up and down in symmetry?

All channels formations will break soon or later, dollar interest rates has been down 0.75% . Who wants to buy $ right now?

This movement down you see it is just a correction.

Only if cable breaks support 1.9735 , you could seriously look for more down movement, now it just plays the correction.
  • #51,042
  • Jan 25, 2008 4:55am Jan 25, 2008 4:55am
Quoting Designer1
HUGE down can be possible

we are following H4 Channel and its time to go for down

and look at my chart

Hope this help!

i am already short from 1.9830

in my channel you can see half butterfly downside will complete the whole butterfly picture.
yesterday i did exactly that i used stot for overbought and undersoled it really dont work like that...if it was really that easy we would all be rich!!! stot is only good to measure divergence if u ask me and wont use it for anything else as i got burnt yesterday just because i thought it was overbought and expect price to dive down...but i could be wrong ive only been trading close to 2 months

but i have a feeling u know what yur doing...im lossing pips quick and fast..
  • #51,043
  • Jan 25, 2008 5:00am Jan 25, 2008 5:00am
Quoting Designer1
need to just watch!
watch carefully
  • #51,044
  • Jan 25, 2008 5:08am Jan 25, 2008 5:08am
Quoting Designer1
HUGE down can be possible ... i am already short from 1.9830
wow that's a nice looking channel ..
my immediate support comes in around 19670 ..
  • #51,045
  • Jan 25, 2008 5:24am Jan 25, 2008 5:24am
"Buy a dip" in technical analysis is when an security is rallying upside and you can trace a trendline, everytime it touches this trendline and didnt break it is a nice oportunity to enter a trade at the direction of the trend, also if it is close a fib level but did not break it, buy and go with the longer time trend.
  • #51,046
  • Jan 25, 2008 5:25am Jan 25, 2008 5:25am
just like this
Attached Image (click to enlarge)
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  • #51,047
  • Jan 25, 2008 5:26am Jan 25, 2008 5:26am
Quoting nAVIN2007
yesterday i did exactly that i used stot for overbought and undersoled it really dont work like that...if it was really that easy we would all be rich!!! stot is only good to measure divergence if u ask me and wont use it for anything else as i got burnt yesterday just because i thought it was overbought and expect price to dive down...but i could be wrong ive only been trading close to 2 months

but i have a feeling u know what yur doing...im lossing pips quick and fast..
stoch is 90% accurate

also not only stochastick but trendline - FIBO all things showing it wont go up for now -

DOWN CABLE DOWN!
  • #51,048
  • Jan 25, 2008 5:38am Jan 25, 2008 5:38am
Quoting Designer1
stoch is 90% accurate

also not only stochastick but trendline - FIBO all things showing it wont go up for now -

DOWN CABLE DOWN!
can u give yur analysis as to why it will go down stochastick is only good for divergence...or to be used injunction with candle formations at support/resistance, this is where the overbought undersoled thing can come into play..what makes u think its coming south again
we are still closed after 23.6 fib level on dailly chart, if we closed under it i could see yur point.
please explain?
  • #51,049
  • Jan 25, 2008 5:53am Jan 25, 2008 5:53am
its going down alright all you got to do is work out how far
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,050
  • Jan 25, 2008 5:58am Jan 25, 2008 5:58am
Quoting Bones
its going down alright all you got to do is work out how far
its just a retracement im sure..this is the only problem with long term trading have to expect this
  • #51,051
  • Jan 25, 2008 6:02am Jan 25, 2008 6:02am
Quoting nAVIN2007
can u give yur analysis as to why it will go down stochastick is only good for divergence...or to be used injunction with candle formations at support/resistance, this is where the overbought undersoled thing can come into play..what makes u think its coming south again
we are still closed after 23.6 fib level on dailly chart, if we closed under it i could see yur point.
please explain?
i have already attached the screenshot of channel trendline
cable just following that lines check that

another fibo try to make 2.0101 high to 9336 and see the candles performance
  • #51,052
  • Jan 25, 2008 6:09am Jan 25, 2008 6:09am

  1. since cable was unable to break the december month close, we do need to consolidate here first.

Attached Image (click to enlarge)
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  • #51,053
  • Jan 25, 2008 6:13am Jan 25, 2008 6:13am
Quoting forexlion

  1. since cable was unable to break the december month close, we do need to consolidate here first.

agree with that my weekly is now flat,just think down for mo ,thinking its a retrace unless we get under 1.9700
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,054
  • Jan 25, 2008 6:27am Jan 25, 2008 6:27am
Quoting Designer1
HUGE down can be possible

we are following H4 Channel and its time to go for down

and look at my chart

Hope this help!

i am already short from 1.9830

in my channel you can see half butterfly downside will complete the whole butterfly picture.
Hello Designer,
Using pattern recognition, good improve! Congrats.

Draw the butterfly on your chart so others can understand better your point. It's just an advise for next time. Glad you have another tool for your trading.
  • #51,055
  • Jan 25, 2008 6:31am Jan 25, 2008 6:31am
Quoting nAVIN2007
yesterday i did exactly that i used stot for overbought and undersoled it really dont work like that...if it was really that easy we would all be rich!!! stot is only good to measure divergence if u ask me and wont use it for anything else as i got burnt yesterday just because i thought it was overbought and expect price to dive down...but i could be wrong ive only been trading close to 2 months

but i have a feeling u know what yur doing...im lossing pips quick and fast..
What TF are you using with the stochastic?
  • #51,056
  • Jan 25, 2008 6:33am Jan 25, 2008 6:33am
Quoting Carrera
What TF are you using with the stochastic?
i find the 15 minute time frame only really used....and use for diverence manly maybe i use the wrong setting or something
  • #51,057
  • Jan 25, 2008 7:02am Jan 25, 2008 7:02am
[quote=nAVIN2007;1820532]i find the 15 minute time frame only really

Just want to know.. Are trade in demo??
What about your analysis.. cable will go north or south??
  • #51,058
  • Jan 25, 2008 7:06am Jan 25, 2008 7:06am
if it breaks 1.9850 we might see cable pass 2.000 today, and change the daily trend from short to long.
  • #51,059
  • Jan 25, 2008 7:23am Jan 25, 2008 7:23am
Quoting forexguru
if it breaks 1.9850 we might see cable pass 2.000 today, and change the daily trend from short to long.
Are u sure about that? I'm still learning.. My opinion, the cable will go north.
Can u share ur chart analysis..
  • #51,060
  • Jan 25, 2008 7:28am Jan 25, 2008 7:28am
near by 240 and day sup res
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