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Cable Update (GBPUSD)

  • #60,841
  • Edited 5:48am Apr 8, 2008 4:28am | Edited 5:48am
Quoting marketwavez
Gbp/Usd

Coming Soon to a Theatre near you .............
- - -- - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - -
Remeber , this chart
from yesterday's post in here ?
Original Post : #60696
http://forexfactory.com/showthread.p...0378&page=4047
------------------------------------------------------------

Price action in the pound made consolidated top as was illustrated

Now look a what has happened ....... !

/////////////////////////////////////////////////////////////////////////////


http://i28.tinypic.com/2d0l9q1.gif
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-08-2008-#1.gif Size: 20 KB
  • #60,842
  • Edited 5:02am Apr 8, 2008 4:30am | Edited 5:02am
Gbp/Usd
Quoting marketwavez
Gbp/Usd

 Fibonacci Lines at work ............

The Pound broke out of this channel last week and now has
found some resistance at this 618% Retracement line .

The question now is can the Bulls push price back above 2.0010 ?

-------------------------------------------------------------------
( See chart below )
I guess not , Resistance at this 618 line is proving itself to be respected !

( this massive move down in the Pound is extremely technical )
---------------------------------------------------------------
The evidence is always in the charts ...........
While the Funny-mentals drive price ,
- the foundation for price movement is in the charts ..............
------------------------------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-04-2008-#4.gif Size: 22 KB
  • #60,843
  • Apr 8, 2008 4:33am Apr 8, 2008 4:33am
Quoting nAVIN2007
Trading demo is great to a stage...the problem is when yur live the emotions that are natuaral need to be overcome and this can destroy yur account ....like i have found..

I was trading out of fear and placed 53 trades in the first week (1 currency, cable) and won 40 trades but still was at a loss...even now im at a loss but i think im much more calm now and down £300 but turned a corner..i hope ...lol.
i need to be focused enough to believe in myself and allow the trade to hit the target and not close position to exit small profit...this is where i went wrong , but demo u just dont get the same emotions (that feeling of fear needs to leave u otherwise your doomed to lose the account) also entering with 0.1 makes it hard cause the market can turn and take u out ..i think it better to enter with 0.2 ...get 20 pips exit 80% and move SP to entery and let the rest ride..this is what im trying now ..it better work....lol
Success comes to those are busy to look for it...

Best of luck Navin,
I believe . . .
  • #60,844
  • Apr 8, 2008 4:41am Apr 8, 2008 4:41am
ghous

thx man!..
  • #60,845
  • Apr 8, 2008 4:47am Apr 8, 2008 4:47am
last week i talk about this point last friday i said it could test this line
Attached Image (click to enlarge)
Click to Enlarge Name: weekly1.gif Size: 13 KB
  • #60,846
  • Edited 4:54am Apr 8, 2008 4:51am | Edited 4:54am
Quoting marketwavez
Gbp/Usd


Resistance at this 618 line .................
---------------------------------------------
Marketwavez, good call yesterday. It was a classic move!

Excellent chart you've just posted.
Thanks for sharing your perspective.

I'd appreciate your views on whether and why we've perhaps seen a bottom now (or otherwise).

Rob
  • #60,847
  • Apr 8, 2008 5:03am Apr 8, 2008 5:03am
a friend just gave me the idea of organizing a 'trading trip' to a nice hotel in the south of spain or portugal. the idea is to spend 3 trading days there eg. from wednesday to friday, and to share/comment trading strategies live as they set up. all this coupled with extra curricular activities (beach, tennis/squash, nightlife, etc) would be a lot of fun and give the chance for traders to actually know each other and learn, anyone interested please pm me
  • #60,848
  • Apr 8, 2008 5:15am Apr 8, 2008 5:15am
Quoting tomaz55
out at 9776 for +124

now long 9776
out at 9805 for +29

+153 for the day
  • #60,849
  • Apr 8, 2008 5:23am Apr 8, 2008 5:23am
Quoting tomaz55
out at 9805 for +29

+153 for the day
congrates tomaz
im still looking for USDJPY 4 my last trade 4 2day...
dunno it's climb up or falling down again..
im tired rite now..
diz time 4 me to sleep
  • #60,850
  • Apr 8, 2008 5:35am Apr 8, 2008 5:35am
Quoting tomaz55
a friend just gave me the idea of organizing a 'trading trip' to a nice hotel in the south of spain or portugal. the idea is to spend 3 trading days there eg. from wednesday to friday, and to share/comment trading strategies live as they set up. all this coupled with extra curricular activities (beach, tennis/squash, nightlife, etc) would be a lot of fun and give the chance for traders to actually know each other and learn, anyone interested please pm me
How about everyone that makes this trip , while you are there put thier face
in front of a camera and record your trading , then post it on Myspace so we
can all review it for all time ?...............

---------------------------------------------------------------------
  • #60,851
  • Apr 8, 2008 5:38am Apr 8, 2008 5:38am
I'll be buying cable at 9729 with target back up to 2.0000
  • #60,852
  • Apr 8, 2008 5:39am Apr 8, 2008 5:39am
Quoting spiritbreezer
I'll be buying cable at 9729 with target back up to 2.0000
im thinking same thing..i just wondering if it will get there....9729
  • #60,853
  • Apr 8, 2008 5:56am Apr 8, 2008 5:56am
did you buy ?
  • #60,854
  • Apr 8, 2008 5:59am Apr 8, 2008 5:59am
incrediable day for trading one way traffic.. great price action, market even offered chance to sell 1.9800..
Trading is 80% Emotional, 20% Technical
  • #60,855
  • Apr 8, 2008 6:00am Apr 8, 2008 6:00am
Gbp/Usd

Here is a chart of Fibonacci's at work again .........
////////////////////////////////////////////////////////////////////////////
I am posting this chart here again , because too many posts
have gone by , this thread really moves quickly and people
probably only scroll back 2 or 3 pages or less ........

-Look at all these attempts on this line ............
Talk about support , This line is just outstanding ! .....
-----------------------------------------------------------------
Will Price break below anytime during the course of this year ?

-------------------------------------------------------------------
What do you think a rally in the US Dollar whould do to this line ?

------------------------------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-04-2008-#2.gif Size: 20 KB
  • #60,856
  • Apr 8, 2008 6:00am Apr 8, 2008 6:00am
Quoting nAVIN2007
im thinking same thing..i just wondering if it will get there....9729
Short established, already on B/E tatged 9670
Make sure losses are small and profits are bigger!
  • #60,857
  • Apr 8, 2008 6:05am Apr 8, 2008 6:05am
Yeah,I bought at 729 and 705, will add one more at 693.
  • #60,858
  • Apr 8, 2008 6:12am Apr 8, 2008 6:12am
Gbp/Usd

Here is a chart Update ..............

------------------------------------------
Old Line Resistance , becoming New Line Support
- but for how much longer ?
----------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-08-2008-#4.gif Size: 18 KB
  • #60,859
  • Apr 8, 2008 6:16am Apr 8, 2008 6:16am
Hello evryone
Is anyone here using the Jacko system here on the GBP/USD. I am having a massive success on the EUR/USD but want to try it on the other currrencies. Does anyone here trade his system on the other two currencies. What stop loss size do you use.
TIA
  • #60,860
  • Apr 8, 2008 6:20am Apr 8, 2008 6:20am
Quoting wattawatta
Hello evryone
Is anyone here using the Jacko system here on the GBP/USD. I am having a massive success on the EUR/USD but want to try it on the other currrencies. Does anyone here trade his system on the other two currencies. What stop loss size do you use.
TIA
my advice for you keep trading on one currency so you can foucs on it and the all news impact that cueeency no need to say also you will heve the chart history in your mind.
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