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Cable Update (GBPUSD)

  • #65,241
  • May 12, 2008 6:19am May 12, 2008 6:19am
Quoting DeePipster
After Hornet told me "no," I went back and looked and noticed it wasn't at the top of an uptrend. The trend is going up and now it's bouncing back between two small points... I guess that negates the evening star- right? Learning to read candlesticks is hard.. but I think I'll get the hang of it eventually.
not just that, there is no star at all
The quality of your life is brought about by the quality of your thinking.
  • #65,242
  • May 12, 2008 6:40am May 12, 2008 6:40am
hrmm
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  • #65,243
  • May 12, 2008 6:43am May 12, 2008 6:43am
Quoting DJ4x
Hello Everybody...
I've closed all my positions now, including those longs from last week.. So starting afresh with neg 245 pips for the week so far.
I fear we are in no mans land once again. Will wait for break either way to confirm direction and then enter...
I take it you are not that optimistic that we might still reach 1.9700, as you closed your longs at loss? I can’t help feeling that we still need to hit the top of the 4H channel. We have been going down from 2 May (10days) the previous 10 days we hit the top and bottom of the channel 7 times. What goes up must come down and what is down must come up! We are sitting on 23% Fibo level from the 8th. There is no decent candlestick formation. Everything indecisive I think it could go either way from here. Technically we need to see the top of the channel. I will hold long for another while........
  • #65,244
  • May 12, 2008 6:48am May 12, 2008 6:48am
Quoting Runway Trade
I take it you are not that optimistic that we might still reach 1.9700, as you closed your longs at loss? I can’t help feeling that we still need to hit the top of the 4H channel. We have been going down from 2 May (10days) the previous 10 days we hit the top and bottom of the channel 7 times. What goes up must come down and what is down must come up! We are sitting on 23% Fibo level from the 8th. There is no decent candlestick formation. Everything indecisive I think it could go either way from here. Technically we need to see the top of the channel. I will hold long for another while........
I've been listening to too many conflicting versions and theories... needed to clear my head and the slate. calm now. so whatever happens after this i will reassess and enter again.
  • #65,245
  • May 12, 2008 6:48am May 12, 2008 6:48am
Quoting Runway Trade
I take it you are not that optimistic that we might still reach 1.9700, as you closed your longs at loss? I can’t help feeling that we still need to hit the top of the 4H channel. We have been going down from 2 May (10days) the previous 10 days we hit the top and bottom of the channel 7 times. What goes up must come down and what is down must come up! We are sitting on 23% Fibo level from the 8th. There is no decent candlestick formation. Everything indecisive I think it could go either way from here. Technically we need to see the top of the channel. I will hold long for another while........
the only way this wont reach the top is if this 4 hr candle suddenly drops right down....if it closes as a morning star the id say long is good otherwise it will go lower b4 going to the top ...the highs will be lower just bear that in mind buddy ....

im going short as i think the signs to short have arisen for me and i will better going with the trend, but its a stupid entery as weekly pivot isnt crossed and we are sitting on top of 62 ema ..not good conditions to short at all ...
  • #65,246
  • May 12, 2008 6:50am May 12, 2008 6:50am
Quoting Turveyd
I disagree on the DO WORK part strongly ( this isn't a go at you ), I've been pulling up Fibo lines for a week or 2 that you lot post and I'm sorry and I understand you all need something to believe in, but there is no more merit in Fibo's than a bunch of lines you drop onto the screen randomly.

Thats not to say there isn't a slight merit in a bunch of randomly placed lines as it provides something to trade off and make entrys, got to be in it to win it after all.
No offence taken, but those Fibos (sorry random lines) are still holding true! See below
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  • #65,247
  • May 12, 2008 6:54am May 12, 2008 6:54am
I have just realized I have doubled my demo account in the last week but I am $200 down on my live account. Cant I swap
  • #65,248
  • May 12, 2008 6:57am May 12, 2008 6:57am
Quoting Runway Trade
I have just realized I have doubled my demo account in the last week but I am $200 down on my live account. Cant I swap

emotions hey ..
  • #65,249
  • May 12, 2008 7:00am May 12, 2008 7:00am
Accumulating evidence of a short. Bearish Engulfer on the 5 Min and Tweezer tops on the 15

Jim
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  • #65,250
  • May 12, 2008 7:00am May 12, 2008 7:00am
Quoting Runway Trade
I have just realized I have doubled my demo account in the last week but I am $200 down on my live account. Cant I swap
Contact your broker immediately, Runway Trade!!!


Very often I too find that my demo accounts does quite well...excellent than my live account. Even though I have started with the same entry in both the cases.

After analyzing I find that, I meddle with my live account very frequently than my demo account. I leave my demo account to itself.

The elements of fear and greed play very important role in live account!
  • #65,251
  • May 12, 2008 7:03am May 12, 2008 7:03am
4 hr say up and lower say down but nothing crossed weekly pivot .im out ..as nows complete chance i think ...


this could be a bullish flag..any comments ?
  • #65,252
  • May 12, 2008 7:11am May 12, 2008 7:11am
Quoting Turveyd
I disagree on the DO WORK part strongly ( this isn't a go at you ), I've been pulling up Fibo lines for a week or 2 that you lot post and I'm sorry and I understand you all need something to believe in, but there is no more merit in Fibo's than a bunch of lines you drop onto the screen randomly.

Thats not to say there isn't a slight merit in a bunch of randomly placed lines as it provides something to trade off and make entrys, got to be in it to win it after all.
One of the long time traders at FF is Jacko. He posted at this thread over the weekend actually.

He trades around 50 lots at a time, he's one of the most successful traders at FF and just over a year ago, he made his first half million USD from trading EURUSD http://www.forexfactory.com/showpost.php?p=1431044

He uses the 50 fib.

Rob
  • #65,253
  • May 12, 2008 7:14am May 12, 2008 7:14am
Quoting priceaction
One of the long time traders at FF is Jacko. He posted at this thread over the weekend actually.

He trades around 50 lots at a time, he's one of the most successful traders at FF and just over a year ago, he made his first half million USD from trading EURUSD http://www.forexfactory.com/showpost.php?p=1431044

He uses the 50 fib.

Rob
yes, 50% fibs is ususally where Euro likes to retrace too. With a last stand at 61.8%.

Cable instaed likes the 61.8% and 76.4% as last stand, that's where they play it out.
The quality of your life is brought about by the quality of your thinking.
  • #65,254
  • May 12, 2008 7:16am May 12, 2008 7:16am
As the hammer falls.
  • #65,255
  • May 12, 2008 7:18am May 12, 2008 7:18am
Nav, Star formations tend to come thru with the trend more often then against. Against maybe for quick retraces.

Jim

Quoting nAVIN2007
4 hr say up and lower say down but nothing crossed weekly pivot .im out ..as nows complete chance i think ...


this could be a bullish flag..any comments ?
  • #65,256
  • May 12, 2008 7:20am May 12, 2008 7:20am
Quoting hard1head1
Nav, Star formations tend to come thru with the trend more often then against. Against maybe for quick retraces.

Jim

im thinking retrace to 38% or possible 50% then long? ...or u thinking straight down?
  • #65,257
  • May 12, 2008 7:21am May 12, 2008 7:21am
Watch for support to form around .9535 unless there is a surprise around 8:30, after that, maybe 9479 or circa 1 Hr DTL we broke thru earlier.
  • #65,258
  • May 12, 2008 7:22am May 12, 2008 7:22am
Draw your lines of res. and support and you have to watch price action.

Quoting nAVIN2007
im thinking retrace to 38% or possible 50% then long? ...or u thinking straight down?
  • #65,259
  • May 12, 2008 7:23am May 12, 2008 7:23am
Retracement is over.

Quoting hard1head1
Draw your lines of res. and support and you have to watch price action.
  • #65,260
  • May 12, 2008 7:27am May 12, 2008 7:27am
Quoting hard1head1
Retracement is over.
Dragonfly doji and tweezers on 5m and stoped at 38% fibo. Possibly going north again?
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