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Cable Update (GBPUSD)

  • #70,581
  • Edited 1:16pm Jun 12, 2008 1:11pm | Edited 1:16pm
Quoting Firstboss
I closed all of my shorts at 1.5445. At the moment, there are no good signals
for either short or long, as we have entered dead market hours.

There is a possibility of a bullish trend, as hinted by slow_k on 2-hour chart, but the best strategy is to wait till the midnight or even London open since there won't be a good indication one way or another until then
One could beg to differ on the quotation "no good signals for either short or long, as we have entered dead market hours". Its true that the London Session has the highest volatility out of all the other session, however it doesn't mean to say the market isn't giving off signals.

Strong Support has just formed on the 1 hour GBP/USD chart @ 1.9434 and Price Action looks to be heading in the opposite direction after rejection 3 times today.
"The trend is your friend, until the end."
  • #70,582
  • Jun 12, 2008 1:14pm Jun 12, 2008 1:14pm
Anyone using MetaTrader with FXCM? If so, would you recommend it.

Thanks in advance for any insite.
  • #70,583
  • Jun 12, 2008 1:18pm Jun 12, 2008 1:18pm
Long entered at 1.9435 with SL at 1.9420, target 1 @1.9780 and remaining for Target 2 @ 1.9836
  • #70,584
  • Jun 12, 2008 1:18pm Jun 12, 2008 1:18pm
  • #70,585
  • Jun 12, 2008 1:19pm Jun 12, 2008 1:19pm
Quoting RRothschild
Anyone using MetaTrader with FXCM? If so, would you recommend it.

Thanks in advance for any insite.
Hello Fellow Trader,

I've been using FXCM for the past year and a half alongside MetaTrader4, i think they work well in tandem with the price difference of the two being maybe 1 or 2 pips give or take.

I have thought about using the charts FXCM offer, but i don't think they are as good as MetaTrader's.

Hope this helps you.
"The trend is your friend, until the end."
  • #70,586
  • Jun 12, 2008 1:24pm Jun 12, 2008 1:24pm
Quoting T 1 Ti

we moving now .... i think it all has to do with blasted oil when this moves up dolllar strength get less....oil need to trend up then we sweet!!!!!!!!!!!!
  • #70,587
  • Jun 12, 2008 1:25pm Jun 12, 2008 1:25pm
Quoting ForexRookie
One could beg to differ on the quotation "no good signals for either short or long, as we have entered dead market hours". Its true that the London Session has the highest volatility out of all the other session, however it doesn't mean to say the market isn't giving off signals.

Strong Support has just formed on the 1 hour GBP/USD chart @ 1.9434 and Price Action looks to be heading in the opposite direction after rejection 3 times today.

I like to call this time the brewing time!
Just digging in the trenches like everyone else!
  • #70,588
  • Jun 12, 2008 1:27pm Jun 12, 2008 1:27pm
Quoting Austin168
Long entered at 1.9435 with SL at 1.9420, target 1 @1.9780 and remaining for Target 2 @ 1.9836
You the man Austin168. I wish I could do the same in the future. That means when it is bottom then take long. The hardest part is how much we are confident that hey this is the bottom go for long. You know what I mean. For example, Last night around 10:00 pm Eastern Time, the rate was 1.9590'sss and I think it might be the bottom and no UK news would be coming so I went ahead but after that it got dropped 160 pips. Yesterday was very surprised sessions Asia and London because during US session, DJIA lost 200+ points and Oil was increased with $3 but basing on the rumour that Retail Sales of US would be coming dasing (better than expected) the price got hit around 1.9560 for 130 more pips.
  • #70,589
  • Jun 12, 2008 1:32pm Jun 12, 2008 1:32pm
Quoting RRothschild
Anyone using MetaTrader with FXCM? If so, would you recommend it.

Thanks in advance for any insite.
I TRY TO USE IT BUT HERE IN SAUDI ARABIA IT'S NOT WORKING FOR FIRWALL OR SOMTHING, I TRY TO CONTACT FXCM WITHOUT ANY ANSWER TILL NOW
  • #70,590
  • Jun 12, 2008 1:34pm Jun 12, 2008 1:34pm
Quoting Austin168
Long entered at 1.9435 with SL at 1.9420, target 1 @1.9780 and remaining for Target 2 @ 1.9836
Nice! This is the kind of entry I'll be looking for tonight during the asian session once all my indicators are confirmed.
Just digging in the trenches like everyone else!
  • #70,591
  • Jun 12, 2008 1:37pm Jun 12, 2008 1:37pm
Quoting nAVIN2007
we moving now .... i think it all has to do with blasted oil when this moves up dolllar strength get less....oil need to trend up then we sweet!!!!!!!!!!!!
hope so coz there's nothing GBP news left
only US news n i hope it's very bad
  • #70,592
  • Jun 12, 2008 1:38pm Jun 12, 2008 1:38pm
Quoting Abuawad
I TRY TO USE IT BUT HERE IN SAUDI ARABIA IT'S NOT WORKING FOR FIRWALL OR SOMTHING, I TRY TO CONTACT FXCM WITHOUT ANY ANSWER TILL NOW

abouawad you have to use a proxy to connect the server so if u wana call them again ask for ur proxy to connect
  • #70,593
  • Jun 12, 2008 1:43pm Jun 12, 2008 1:43pm
Quoting ForexRookie
Hello Fellow Trader,

I've been using FXCM for the past year and a half alongside MetaTrader4, i think they work well in tandem with the price difference of the two being maybe 1 or 2 pips give or take.

I have thought about using the charts FXCM offer, but i don't think they are as good as MetaTrader's.

Hope this helps you.
Thanks
  • #70,594
  • Jun 12, 2008 1:44pm Jun 12, 2008 1:44pm
Quoting warta
abouawad you have to use a proxy to connect the server so if u wana call them again ask for ur proxy to connect
i try the issue is not from fxcm servers its from the global ISP here in Saudi Arabia
  • #70,595
  • Jun 12, 2008 1:44pm Jun 12, 2008 1:44pm
Quoting Abuawad
I TRY TO USE IT BUT HERE IN SAUDI ARABIA IT'S NOT WORKING FOR FIRWALL OR SOMTHING, I TRY TO CONTACT FXCM WITHOUT ANY ANSWER TILL NOW
Thanks. Have your tried to transfer to the new MT account, or through your regular account.
  • #70,596
  • Jun 12, 2008 1:47pm Jun 12, 2008 1:47pm
Quoting ForexRookie
Strong Support has just formed on the 1 hour GBP/USD chart @ 1.9434 and Price Action looks to be heading in the opposite direction after rejection 3 times today.
Agreed - because of that support and market slowdown I closed my short.
However, there is no reliable long entry signal. We are in a slow consolidation with low liquidity right now. As for the further direction we need to wait for 5 p.m. EST to calculate new daily pivots, and for market momentum to pick up and show the immediate trend
"Luxury is one of the basic needs", (c), Don Corleone
  • #70,597
  • Jun 12, 2008 1:50pm Jun 12, 2008 1:50pm
Quoting Abuawad
i try the issue is not from fxcm servers its from the global ISP here in Saudi Arabia
i know what u mean but u have to know something , a proxy is a dynamic IP that u can use to connect different server , once u set ur proxy u can connect the fxcm server as u r connected from europe or something like this , so if u wana call them only ask if there is any proxy to use . for exepmle paltalk is also blocked in KSA but many chater use paltalk by changing the proxy IP
  • #70,598
  • Jun 12, 2008 1:51pm Jun 12, 2008 1:51pm
You the man Austin168. I wish I could do the same in the future. That means when it is bottom then take long. The hardest part is how much we are confident that hey this is the bottom go for long. You know what I mean. For example, Last night around 10:00 pm Eastern Time, the rate was 1.9590'sss and I think it might be the bottom and no UK news would be coming so I went ahead but after that it got dropped 160 pips. Yesterday was very surprised sessions Asia and London because during US session, DJIA lost 200+ points and Oil was increased with $3 but basing on the rumour that Retail Sales of US would be coming dasing (better than expected) the price got hit around 1.9660 for 130 more pips.

With TL of 15 PIPS this is a huge reward to risk ratio , Once it goes above 1.9560, will raise my SL to 1.9530 to lock in profit.
  • #70,599
  • Jun 12, 2008 1:58pm Jun 12, 2008 1:58pm
Quoting warta
i know what u mean but u have to know something , a proxy is a dynamic IP that u can use to connect different server , once u set ur proxy u can connect the fxcm server as u r connected from europe or something like this , so if u wana call them only ask if there is any proxy to use . for exepmle paltalk is also blocked in KSA but many chater use paltalk by changing the proxy IP
thanks for the information, i'm an information system Eng. and i have two issue.
one i cant change the ip its static ip. the 2nd issue the blocking from the ministry or communication here in ksa. not on fxcm but on IP range and the server in that range.
i'm using FXCM platform and it's ok with me, but if i can open only one application instade of opening Meta trader on demo account and FXCM platform for my live account. but its ok for me at this time.
i'm planning to have satalite connection soon so i can open or connect to any website or server without any blocking.
thanks again
  • #70,600
  • Jun 12, 2008 2:06pm Jun 12, 2008 2:06pm
Quoting Abuawad
thanks for the information, i'm and information system Eng. and i have two issue.
one i cant change the ip its static ip. the 2nd issue the blocking from the ministry or communication here in ksa. not on fxcm but on IP range and the server in that range.
i'm using FXCM platform and it's ok with me, but if i can open only one application instade of opening Meta trader on demo account and FXCM platform for my live account. but its ok for me at this time.
i'm planning to have satalite connection soon so i can open or connect to any website or server without any blocking.
thanks again

well abouawad i just asked the fxcm help now and they told me that they have no problem in ksa but u have to own a live account , if u r on demo so its not gona work but life account can connect from mt4 , thats what she said Miss Ana she sound seksi .. i love help desk
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