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Cable Update (GBPUSD)

  • #58,261
  • Mar 14, 2008 12:03am Mar 14, 2008 12:03am
Quoting twofeet
Hi Bones,

I mainly trade channels and fib/support/resistance levels, and the price seems to be bouncing off the tips of your yellow boxes which is interesting.

How do you calculate the yellow zones? (i.e. which time periods of consolidation, and why you selected these?)
Hi twofeet
I think the technical term for them is Price Pivot Zones.
When I originally went to the James 16 thread I looked at the last few pages first and im sure I read it there some time ago. It was then I put them on my chart.
I then some weeks later started to read that thread from the beginning and am now on page 40 (there are over 200) and they have not been mentioned yet so I am not fully up to speed with them .Im just showing you what I know now lol.
They are basically zones which are taken from the past bars which are known to be congestion areas.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #58,262
  • Mar 14, 2008 12:10am Mar 14, 2008 12:10am
Quoting eye4spot
triangle pattern. continuation pattern. OR double top. reverse pattern.
either way. it will be a break and a test then a impulse. at least 50~70 pips.

It should go up, but it's just my opinion.
enjoy.

http://img145.imageshack.us/img145/4305/gbptm6.gif
yes GBP will up
  • #58,263
  • Mar 14, 2008 3:29am Mar 14, 2008 3:29am
Quoting Turveyd
Bones, although I understand where your coming from resistance wise, I will remain a sceptic, I guess my experience of resistance and support is different to yours.

The entire, there are few people that bought at those levels so few wanting to get out break even / small profit works for stocks as they attract long term investors but I fear Forex is too much of a day traders market for the type of person that'll be exiting for near break even ( As a serial near break even trader i know my people LOL )
Let me help you with S+R
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #58,264
  • Mar 14, 2008 5:04am Mar 14, 2008 5:04am
nobody wanna trade today ..i just made 9 pips on a 4 hr scalp..... lol
any more than that would have been pushing it...
  • #58,265
  • Mar 14, 2008 5:26am Mar 14, 2008 5:26am
i went short and have +80p and +30p so far and set trailing
today trading can be bearish
  • #58,266
  • Mar 14, 2008 5:36am Mar 14, 2008 5:36am
Quoting oleevier
i went short and have +80p and +30p so far and set trailing
today trading can be bearish
what was your entery...the market
cause the bottom is 2.0265....and its bouncing of this line...we also in a uptrend..so if i was u ...keep a close eye on your profits

the market is bullish not bearish..we shall move up..but it will take quite a whiile to push through
  • #58,267
  • Mar 14, 2008 5:36am Mar 14, 2008 5:36am
Quoting oleevier
i went short and have +80p and +30p so far and set trailing
today trading can be bearish
could be but we have bernanke talking plus a lot of US numbers.
so all that could change in a second
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,268
  • Mar 14, 2008 5:52am Mar 14, 2008 5:52am
Good Day

Cable trade below Daily pivot 2.0321 .... first support @ 2.0252 and first resistance @ 2.0392 , 1H, 4H is in a bullish configuration. The price should find a support above 2,0280

any prediction about US NEWS
  • #58,269
  • Mar 14, 2008 5:54am Mar 14, 2008 5:54am
Quoting deboooo2005
Good Day

Cable trade below Daily pivot 2.0321 .... first support @ 2.0252 and first resistance @ 2.0392 , 1H, 4H is in a bullish configuration. The price should find a support above 2,0280

any prediction about US NEWS
well i mean with such a low dollar while oil prices and food prices are increasing( to all time highs) we should c a high CPI but who knows.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,270
  • Mar 14, 2008 6:03am Mar 14, 2008 6:03am
Quoting salah k.
well i mean with such a low dollar while oil prices and food prices are increasing( to all time highs) we should c a high CPI but who knows.

what if the CPI is high? good or bad for usd?
  • #58,271
  • Mar 14, 2008 6:11am Mar 14, 2008 6:11am
Quoting fxpredator
what if the CPI is high? good or bad for usd?

theoretically it should be good
but it all depends on bernanke
because he might still say that he doesnt care about inflation and will continue cutting rates.

in usual conditions high CPI means dollar should strengthen
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,272
  • Mar 14, 2008 6:14am Mar 14, 2008 6:14am
Quoting nAVIN2007
what was your entery...the market
cause the bottom is 2.0265....and its bouncing of this line...we also in a uptrend..so if i was u ...keep a close eye on your profits

the market is bullish not bearish..we shall move up..but it will take quite a whiile to push through
entry was 2.0350
i know2 it can bounce so im prepared to close , have +102 so far and im watching it
i have some feelings about drop but im newbe
  • #58,273
  • Mar 14, 2008 6:17am Mar 14, 2008 6:17am
Quoting oleevier
entry was 2.0350
i know2 it can bounce so im prepared to close , have +102 so far and im watching it
i have some feelings about drop but im newbe

i have the same feeling my friend although i was hoping to see 20450 be4 a drop.
just dont 4get about the news they might push cable back to the 400 area.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,274
  • Mar 14, 2008 6:20am Mar 14, 2008 6:20am
Quoting oleevier
entry was 2.0350
i know2 it can bounce so im prepared to close , have +102 so far and im watching it
i have some feelings about drop but im newbe
good for u..im glad im wrong...its seems we have belted that support it will be interesting to see if it breaks the 50% fib now ...
big drop.......
  • #58,275
  • Mar 14, 2008 6:29am Mar 14, 2008 6:29am
Quoting deboooo2005
Good Day

Cable trade below Daily pivot 2.0321 .... first support @ 2.0252 and first resistance @ 2.0392 , 1H, 4H is in a bullish configuration. The price should find a support above 2,0280

any prediction about US NEWS


www.mataf.net

GBP/USD - British Pound Dollar

Short term (Intraday)

2,0345. GBP USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 2,0280. The uptrend should continue to gather momentum. The target is expected at 2,0600.






Resistances 2,0390 - 2,0460 Supports 2,0280 - 2,0200
  • #58,276
  • Mar 14, 2008 6:30am Mar 14, 2008 6:30am
Quoting nAVIN2007
good for u..im glad im wrong...its seems we have belted that support it will be interesting to see if it breaks the 50% fib now ...
big drop.......
thx my friend
i trade real so it is nice for me to be in profit
cant explain it , but had a feeling of drop
  • #58,277
  • Mar 14, 2008 6:33am Mar 14, 2008 6:33am
Quoting oleevier
thx my friend
i trade real so it is nice for me to be in profit
cant explain it , but had a feeling of drop
stay away from feeling my friend..need confirmations..but welldone..it could be a massive drop..
  • #58,278
  • Mar 14, 2008 6:40am Mar 14, 2008 6:40am
Quoting nAVIN2007
stay away from feeling my friend..need confirmations..but welldone..it could be a massive drop..
i wouldnt open positions in this "critical" moment but i had a nice profit so far so i decided keep it but was secured be trailing stop

and it was good decision
in wrong way my profit would be smaller but will not make me loss

sorry for my english , im polish
  • #58,279
  • Mar 14, 2008 6:43am Mar 14, 2008 6:43am
hi

my target now is 2.0179
  • #58,280
  • Mar 14, 2008 6:45am Mar 14, 2008 6:45am
if the weekly candle closes under 2.0170 we are in bearish mode.
"what doesn't bankrupt me, makes me stronger" modern nietzche
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