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Cable Update (GBPUSD)

  • #56,981
  • Mar 3, 2008 5:31pm Mar 3, 2008 5:31pm
Malcolm. okay I'm being nice, but 51% down, 49% up is likely a more accurate way of saying it.

But every % counts hey
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,982
  • Mar 3, 2008 5:43pm Mar 3, 2008 5:43pm
Quoting Turveyd
Malcolm. okay I'm being nice, but 51% down, 49% up is likely a more accurate way of saying it.

But every % counts hey
in other words Your left nut says down but the right nut says Up... i totally know how that feels bro
And your mouth dropped
  • #56,983
  • Mar 3, 2008 5:44pm Mar 3, 2008 5:44pm
The chart below shows an Andrews Pitch Fork off the bottom.

The cemtre of this is being testd at around the 1.9800 zone.

If we break the centre of the pitch fork we should go down to test the bottom at about 1.9600 , which is also 61.8 % of the retracement.

If we find support at the centre of the pitch fork and the bearish divergence in the rsi is broken (rsi turns up) then we will break test top of APF at 2.100 zone).

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Blogging daily now at www.volume.zone
  • #56,984
  • Mar 3, 2008 6:04pm Mar 3, 2008 6:04pm
Quoting malcolmb14
Nav

This might give you a clue as to direction

Look at that bearish div on the rsi on the 4 hour at the double top. I think break down support of 1.9800. Also there is hidden bearish divergence in the lows in the fact that the lows are getting higher but the rsi is getting lower.
MACD 4H also showing divergence.

What other indicators do you use?
Darkness lies one inch ahead..
  • #56,985
  • Mar 3, 2008 6:09pm Mar 3, 2008 6:09pm
Quoting TraderJR
MACD 4H also showing divergence.

What other indicators do you use?
I use rsi14 and simple moving averages , 10 , 20 and 50

I like to use fib extensions and fib retracements.

Also linear regression channel or andrews pitch forks for support / resistance.
Blogging daily now at www.volume.zone
  • #56,986
  • Mar 3, 2008 6:31pm Mar 3, 2008 6:31pm
Guys, do you know how many days we could trade in this market?

Why try to figure out this mess? Patience, wait for a better conditions. This is going to no where yet.

If you are scarper, well, many opportunities IF you know how to do it.

But, 40 and up, be careful here.

I been waiting for this Gartley 4H to complet the profit target since last week and I still waiting, lol. But I'm not in a hurry, patience to win or loose is the same to me.
  • #56,987
  • Mar 3, 2008 6:39pm Mar 3, 2008 6:39pm
Quoting malcolmb14
The chart below shows an Andrews Pitch Fork off the bottom.
Do you have any recommended reading for Andrews Pitch Forks?

TIA
Darkness lies one inch ahead..
  • #56,988
  • Mar 3, 2008 6:40pm Mar 3, 2008 6:40pm
Quoting Carrera
Guys, do you know how many days we could trade in this market?

Why try to figure out this mess? Patience, wait for a better conditions. This is going to no where yet.

If you are scarper, well, many opportunities IF you know how to do it.

But, 40 and up, be careful here.

I been waiting for this Gartley 4H to complet the profit target since last week and I still waiting, lol. But I'm not in a hurry, patience to win or loose is the same to me.

What ever pattern is playing out right now might takes days to break.

If you are bored waiting for it trying day trading the YM ( dj -30 emini futures). It ONLY moved 600 points today up and down !
Blogging daily now at www.volume.zone
  • #56,989
  • Mar 3, 2008 6:51pm Mar 3, 2008 6:51pm
Quoting TraderJR
Do you have any recommended reading for Andrews Pitch Forks?

TIA
No sorry .

If you google it you might get several sites to look at.

The idea is to spot 1-2-3 pivot points . If you look in my last chart
1was the low at 1.9400 , 2 was the pivot high at 1.9740 zone and 3 was the pivot low at 1.9350.

Place tghe drawing tool at p01 , then click P02 , thn P03. This will draw the APF

Linear regression channels work in a very similar manner.

http://financial-dictionary.thefreed...#39;+Pitchfork

https://www.tradestation.com/Discuss...Topic_ID=45370

both have pictures of APF .

http://www.pitchforkprimer.com/ do not go near this site .I signed up for $40 ,got lesson 1) and have never heard anything since.
Blogging daily now at www.volume.zone
  • #56,990
  • Mar 3, 2008 7:16pm Mar 3, 2008 7:16pm
FX daily says its suppoed to go up... and then theres a part where they say people are selling. so.... im sticking to my 9760
And your mouth dropped
  • #56,991
  • Mar 3, 2008 7:23pm Mar 3, 2008 7:23pm
When I've made enough on forex to fund a 5K area e-mini account, I'd like to trade YM and NQ again, traded someone elses account profitably YEARS back, sadly he never paid me my commission So stopped!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,992
  • Mar 3, 2008 8:02pm Mar 3, 2008 8:02pm
Actually I do not see it falling until it breaks 1.98. Or get out of that triangle to the upside. its at. 1.9930 and decreasing.

That means any trade in cable now is just a high R/R. unless you bet on the upside breakout like me given this is a corrective action with stop below 1.98.

Odds favour upside breakout to complete a five wave rally. But anything is yet possible.
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  • #56,993
  • Mar 3, 2008 8:22pm Mar 3, 2008 8:22pm
we know.. its in a traingle... lol.... we want to know which way of the traingle its gonna break!! i say DOWN arrghhh!! fall you PIG
And your mouth dropped
  • #56,994
  • Mar 3, 2008 8:27pm Mar 3, 2008 8:27pm
Quoting makey2u
we know.. its in a traingle... lol.... we want to know which way of the traingle its gonna break!! i say DOWN arrghhh!! fall you PIG
makey... in my analysis cable have more possibility to break resistant of the triangle.
so it will continuing uptrend....(bullish pennant)
Never Give Up.....
  • #56,995
  • Mar 3, 2008 8:36pm Mar 3, 2008 8:36pm
Anyone got a good reliable Meta Demo broker purely for charting, my Interbankfx MT3 charts keep stopping all the time which is annoying me and costing me, tried there MT4 feed and there 1min data is useless.

Free and 1Min capable are prioritys.


thanks
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,996
  • Mar 3, 2008 8:40pm Mar 3, 2008 8:40pm
fxdd
And your mouth dropped
  • #56,997
  • Mar 3, 2008 8:55pm Mar 3, 2008 8:55pm
Thanks, still useless 1M data

Changed MT3 setting, 30mins no down time, but bet coincidence
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,998
  • Mar 3, 2008 9:06pm Mar 3, 2008 9:06pm
Quoting Turveyd
Anyone got a good reliable Meta Demo broker purely for charting, my Interbankfx MT3 charts keep stopping all the time which is annoying me and costing me, tried there MT4 feed and there 1min data is useless.

Free and 1Min capable are prioritys.


thanks
www.monetradingfx.com
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  • #56,999
  • Mar 3, 2008 9:09pm Mar 3, 2008 9:09pm
Quoting malcolmb14
What ever pattern is playing out right now might takes days to break.


If you are bored waiting for it trying day trading the YM ( dj -30 emini futures). It ONLY moved 600 points today up and down !


For big TF, yes sometimes you have to wait. No problem for me.
When I trade patterns @ smaller TF 5-15M, those are more quickly.

naa, I like forex, I'm not boring yet. lol
  • #57,000
  • Mar 3, 2008 9:14pm Mar 3, 2008 9:14pm
Having the option to trade YM / NQ is handy cause lets face it, if it's a wild day on them, odds are no ones interested in the Forex markets and they are like today.

Seems to be the way it works anyway.


Looks like we are going to get a up move, well from EURUSD action, but must sleep!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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