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Cable Update (GBPUSD)

  • #53,321
  • Edited 1:24pm Feb 12, 2008 1:22pm | Edited 1:24pm
Quoting nAVIN2007
im mostly likely wrong but the way i see it, the previous monthly candle shows a hammer at a vital trendline and theres a bounce of it and price hopefully moves up to make the existing candle bullish. The weekly candle shown at the moment is bullish and indicates strong movement up. 4 hour chart is showing bulls in full control..yes the trend in down but its also a channel and we are at the bottom of the channel itself..and we bounced of it..so the movement is now now up ...we can only go down if the bottom trendline is broken and we are no where near it so i cant see how movement is south..but i respect yur experience and welcome learning from u....
Navin that last monthly candle is a pin or pinocchio bar.It is called that because it gave a false indication of direction
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,322
  • Feb 12, 2008 1:32pm Feb 12, 2008 1:32pm
Quoting nAVIN2007
http://www.forexfactory.com/customav...tar44709_2.gif Abuawad whats yur experience say about where we are heading?
First why you insert my name and photo like that!
Second the answer for your question is
Cable now on the 4 hours chart fibo 38.2 at 1.9611 break it up will move us to 1.9672 but there are 1.9632 on the way which is the weekly fibo 23.6 and cable will find a resistant at this point.
Or if it break it down cable will move to 1.9536 , 1.9415 and 1.9385
But all this depend on the news we have early tomorrow on 3:01 am (my local time GNT +3:00).
And for your information FXCM annalists says:
consolidation below 1.9675
Our preference: Short positions below 1.9675 with targets @ 1.9561 & 1.9525 in extension.
Alternative scenario: Above 1.9675 look for further upside with 1.9725 & 1.974 as targets.
Comment: the 30-min RSI is overbought. The 1.9675 (50% retracement) maintains a bearish bias.
But I don’t agree with them all the time

Finally, I like to inform you that my experience come from FF expert and personal effort that cost me a lots of losing and I hope we learn more and exchange our experiences.
  • #53,323
  • Feb 12, 2008 1:32pm Feb 12, 2008 1:32pm
I for one am glad Mike and Alan are friends ,good posters should stick together ,I was with Alan 1)Cause he is a Brit 2)Cause Mike is copying my trades

I see strong resistances here but think it will be broken this week.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,324
  • Feb 12, 2008 1:32pm Feb 12, 2008 1:32pm
Quoting Bones
Navin that last monthly candle is a pin or pinocchio bar.It is called that because it gave a false indication of direction
i just looked at it and thought well, its a monthly candle, hammer formation on trend line and it shows price rejection also we went there again and price was rejected and are bouncing of a bottom trendline which has strong support.
the thing is has it given a false signal as it still forming?..
  • #53,325
  • Feb 12, 2008 1:37pm Feb 12, 2008 1:37pm
Quoting Abuawad
First why you insert my name and photo like that!


Finally, I like to inform you that my experience come from FF expert and personal effort that cost me a lots of losing and I hope we learn more and exchange our experiences.
thx buddy ....i tried to copy and paste yur name and it took yur photo with it, i didnt even realise this was possible
  • #53,326
  • Feb 12, 2008 1:39pm Feb 12, 2008 1:39pm
Quoting nAVIN2007
thx buddy ....i tried to copy and paste yur name and it took yur photo with it, i didnt even realise this was possible
Is it that hard to writ it :
  • #53,327
  • Feb 12, 2008 1:40pm Feb 12, 2008 1:40pm
Looooooooooool FxDaily blocked again
  • #53,328
  • Feb 12, 2008 1:42pm Feb 12, 2008 1:42pm
Quoting nAVIN2007
i just looked at it and thought well, its a monthly candle, hammer formation on trend line and it shows price rejection also we went there again and price was rejected and are bouncing of a bottom trendline which has strong support.

Like I say mate it’s a pin (bullish), and I believe its valid unless the its low is broken, if you look back in time on your monthly not to far, there is an almost identical candle, take a look at the effect

Nothings guaranteed though.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,329
  • Feb 12, 2008 1:45pm Feb 12, 2008 1:45pm
Quoting Abuawad
Looooooooooool FxDaily blocked again
I think not nice to make fun out of it..
Comeon he sometimes posts something valuable as well.. Hope him best.
  • #53,330
  • Feb 12, 2008 1:45pm Feb 12, 2008 1:45pm
I am learning and at this point I will trade for sox, lol… I thought that the whole point of using technical analysis and inds is to catch all of the market movements, long and short… It seems that it is not good to be focused and stubborn about only one direction while hundreds of pips slip away while remaining locked in holding onto a neg trade that might or might not come back eventually… I thought that the main point is to cut losses and let the winners run, or is this just a trading myth and no one really follows this golden rule…

It seems wise to follow the short term trends catching those pips while waiting for the market to correct and eventually follow the long term trend catching all the pips along the way… I guess if one has “Millions” and can wait out the market to eventually go one’s way of thinking not going with the short term tends determined with blinders on holding that stubborn resign that I know the overall direction and come h*ll or high water it will do it…. Usually the market will correct and follow the overall long term trend of course, but in the mean time catch all the short movements and be flexible…

I think that most traders don’t have these kinds of funds to just sit and hold onto a neg trade missing out on 100’s of pips of short strong movements that can make an account double in no time… Just food for thought, I don’t trade with money that I can’t afford to loose I just consider it paying my trading education dues…

My best to you all…


May the pips be with us…
  • #53,331
  • Feb 12, 2008 1:48pm Feb 12, 2008 1:48pm
Quoting jacobtrader
I think not nice to make fun out of it..
Comeon he sometimes posts something valuable as well.. Hope him best.
I’m not make fun from him, I just laugh on what did he do this time! Me and him agree lots of time and sometime not. And he also one of the people I like them here
  • #53,332
  • Feb 12, 2008 1:51pm Feb 12, 2008 1:51pm
BTW I was joking about Mike copying my trades, LOL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,333
  • Feb 12, 2008 1:55pm Feb 12, 2008 1:55pm
i love the way he says 15 lots here and there .....lol
funny guy who has plenty of confidence i hope he doesnt lose all of his money ..lol
  • #53,334
  • Feb 12, 2008 1:58pm Feb 12, 2008 1:58pm
Quoting Abuawad
WoooooooooooooW
Can you give me 50K for one month
Is not funny.

Funny are the calls made in this thread. It is better to talk about posibbilities in stead of what will happend.
Anyways, I relax myself reading all this crazyness here.

I won't said good luck to you because luck does not have nothin to do with FX, for luck, flit a coin.
What I will tell you is, success, keep the good analisis as usually.
  • #53,335
  • Feb 12, 2008 2:00pm Feb 12, 2008 2:00pm
Quoting allserene
That's nice of you Mike - my name is Alan - I was a very young man in 1947 and I now live in 'The finest country that ever existed in the history of the world' to quote Mitt Romney, or the 'Lair of the great Satan' to quote Mr Armoreddinnerjacket in Teheran. I judge it's somewhere between the two.

Where that country's currency goes from here could yield me huge (in my terms) losses or profits on my 'wad', so I am wedded to cable trading for that reason more than chosing it as a suitable pair for trading

Trading it is a training exercise for my greater strategic decisions down the line

There are people trading here from Saudi Arabia and Yonge Street, Toronto and I have been to both. I tweak both their tails because I am naughty and sometimes bored, but underneath i am serious about cable and I like to hear their take on it

ok I am really enjoying learning cable's twists and turns so let's watch this play unfold and not get burned...
Now were you Young at 1947, or where you Born in 1947? theres a difference , haha well from your amusing comment, i was a bit lost, what country are we speaking of? are you in canada, UK? im having my doubts its america..

Anyhow guys, word has on the street GBP JPY is gonna tank, so that usually drives the cable in what direction??? ahemm lets ride her baby!!
And your mouth dropped
  • #53,336
  • Feb 12, 2008 2:02pm Feb 12, 2008 2:02pm
Quoting Carrera
Is not funny.

Funny are the calls made in this thread. It is better to talk about posibbilities in stead of what will happend.
Anyways, I relax myself reading all this crazyness here.

I won't said good luck to you because luck does not have nothin to do with FX, for luck, flit a coin.
What I will tell you is, success, keep the good analisis as usually.
My friend why you angry check my post and you will find out how much I lost here also you will find me mansion about the luck and all that staff. I’m just trying to make it easy on you that not all of us profitable all the time and most of us blow some accounts.
Don’t take it in the negative way, but I’ll say to you good luck and good pips for you
  • #53,337
  • Feb 12, 2008 2:19pm Feb 12, 2008 2:19pm
Quoting Abuawad
My friend why you angry check my post and you will find out how much I lost here also you will find me mansion about the luck and all that staff. I’m just trying to make it easy on you that not all of us profitable all the time and most of us blow some accounts.
Don’t take it in the negative way, but I’ll say to you good luck and good pips for you
I'm sorry, don't misundertand me. I said that in a good mood. My limited english avoid me to express myself sometimes correctly or what I mean to said. Probabbly if I place the icono of the laughing face after the frase "Is not funny" you could undestand me better, but I never use icons here.

When I said luck means that people just buy and sell like place bets in a casino.
Is not your case, I notice that you analize your trades.

Well anyways, tc and pips to you.
  • #53,338
  • Feb 12, 2008 2:51pm Feb 12, 2008 2:51pm
I'm lookin to buy on a dip when the housing data comes out for the UK @ 700pm est. It should be bearish where as the inflation data should be bullish, so tonight I see a possible opportunity to buy on a dip. Retail sales will be a dissappointment, as usual, and will continue to be so, until people can pay their mortgages.

My 2 cents.........

Trade wisely.
  • #53,339
  • Feb 12, 2008 2:55pm Feb 12, 2008 2:55pm
Quoting AmeriTrini
I'm lookin to buy on a dip when the housing data comes out for the UK @ 700pm est. It should be bearish where as the inflation data should be bullish, so tonight I see a possible opportunity to buy on a dip. Retail sales will be a dissappointment, as usual, and will continue to be so, until people can pay their mortgages.

My 2 cents.........

Trade wisely.
Exactly what im thinking Ameri
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,340
  • Feb 12, 2008 2:57pm Feb 12, 2008 2:57pm
Quoting Abuawad
WoooooooooooooW
Can you give me 50K for one month
it's Funny bro.....
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