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Cable Update (GBPUSD)

  • #83,241
  • Aug 20, 2008 10:36am Aug 20, 2008 10:36am
Quoting achnaide
HI,

I am new to this place and I need some help. I am a scalper playing on 1/5/15/30 min charts. Right now i am looking at 5min chart and see the uptrend. If it brakes below 8575 then we can see 8540.... what do you think guys? sorry cannot post chart yet
I would suggest you put these small tf's aside and start working with bigger ones.
  • #83,242
  • Aug 20, 2008 10:37am Aug 20, 2008 10:37am
Quoting spathi
I found this...the reason to long. Stop loss if breached the trendline.
if u look at the 1hr chart u will see a bearish engulfing formation right of resistance ..the bullish pin was there to reach that resistance and its been reached and producing a bearish engulfing pattern ...so now either the base breaks or the resistance..

downtrend maybe base go first....

goodluck bro
Attached Image (click to enlarge)
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  • #83,243
  • Aug 20, 2008 10:38am Aug 20, 2008 10:38am
Quoting islan405
so what do u think eohater is it down down....its so unpredictable..whats happen to the markets
I can't say it's down down until we break the bottom of 1.851x. At this point in time, I'll go long at 1.851x if the timing is right. We've had lower highs and higher lows. I think it's converging and we could go either way.
Just digging in the trenches like everyone else!
  • #83,244
  • Aug 20, 2008 10:45am Aug 20, 2008 10:45am
Quoting belekas
I would suggest you put these small tf's aside and start working with bigger ones.
Tnx for suggestion , but which time frames 1 hour and up. Also I down have enough funds to put 50-100 pips stop loss on a bigger time frame.
  • #83,245
  • Aug 20, 2008 10:47am Aug 20, 2008 10:47am
Quoting achnaide
HI,

I am new to this place and I need some help. I am a scalper playing on 1/5/15/30 min charts. Right now i am looking at 5min chart and see the uptrend. If it brakes below 8575 then we can see 8540.... what do you think guys? sorry cannot post chart yet
absolutely going to get fried if u thinking we in a uptrend.....look at dailly....the only bullish bars are doji
  • #83,246
  • Aug 20, 2008 10:50am Aug 20, 2008 10:50am
Quoting achnaide
Tnx for suggestion , but which time frames 1 hour and up. Also I down have enough funds to put 50-100 pips stop loss on a bigger time frame.

put yur support and resistance on dailly.....then when price reaches close to those points...drop the time frame to get confirmation signals at this areas..to reduce your risk and if u know what going on ..this will work..

good luck to u..
  • #83,247
  • Aug 20, 2008 10:50am Aug 20, 2008 10:50am
Tomorrow we have:-
4:30am GBP http://www.forexfactory.com/images/m...mpact_high.gif Retail Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif
-0.3% -3.9%
and my wife tells me the shops have been as quiet as a party round at FXtraders place.
This space intentionally left blank.
  • #83,248
  • Aug 20, 2008 10:50am Aug 20, 2008 10:50am
Quoting nAVIN2007
if u look at the 1hr chart u will see a bearish engulfing formation right of resistance ..the bullish pin was there to reach that resistance and its been reached and producing a bearish engulfing pattern ...so now either the base breaks or the resistance..

downtrend maybe base go first....

goodluck bro
after the long bear candle that made the bearish engulfing pattern, there was a bull candle that show long wick as a price rejection to go lower.. long will be.. anyway trust ur analysis. good luck.
  • #83,249
  • Aug 20, 2008 10:53am Aug 20, 2008 10:53am
Quoting Uphios
Tomorrow we have:-
4:30am GBP http://www.forexfactory.com/images/m...mpact_high.gif Retail Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif
-0.3% -3.9%
and my wife tells me the shops have been as quiet as a party round at FXtraders place.
I guess, it`s gonna be a nice time to go long after a long time...
  • #83,250
  • Aug 20, 2008 10:53am Aug 20, 2008 10:53am
Quoting nAVIN2007
absolutely going to get fried if u thinking we in a uptrend.....look at dailly....the only bullish bars are doji

nope i wouldnt, Because i woudnt buy it right now its too late i should of buy at 8565, because according to my chart it bounced right of the trend line. i am watching now
  • #83,251
  • Aug 20, 2008 11:00am Aug 20, 2008 11:00am
5 min tf chart ... half an hour old but still valid

http://picnac.com/thumbs/2029img.JPG
  • #83,252
  • Aug 20, 2008 11:00am Aug 20, 2008 11:00am
Quoting spathi
I found this...the reason to long. Stop loss if breached the trendline.
If your entry is good you should be fine. I am watching todays daily close to see if I should add to my long position. I have scalped over 200 pips today from 2 longs and one short. I am now long from 8565. Good luck to all....
Patience + Discipline - Greed = Success
  • #83,253
  • Aug 20, 2008 11:03am Aug 20, 2008 11:03am
Quoting Infinity
If your entry is good you should be fine. I am watching todays daily close to see if I should add to my long position. I have scalped over 200 pips today from 2 longs and one short. I am now long from 8565. Good luck to all....
lol well done, looks like on the upward move
  • #83,254
  • Aug 20, 2008 11:03am Aug 20, 2008 11:03am
Quoting spathi
after the long bear candle that made the bearish engulfing pattern, there was a bull candle that show long wick as a price rejection to go lower.. long will be.. anyway trust ur analysis. good luck.
i do agree with u ....only the US news will take that back down..im looking for a confirmation we have a bottom...im nt in the market right now as im not sure

sorry guys.stupid me ..news is finished.. ......
  • #83,255
  • Aug 20, 2008 11:06am Aug 20, 2008 11:06am
better link
Attached Image
  • #83,256
  • Aug 20, 2008 11:10am Aug 20, 2008 11:10am
Quoting achnaide
Tnx for suggestion , but which time frames 1 hour and up. Also I down have enough funds to put 50-100 pips stop loss on a bigger time frame.
This market can take 100 pips like it didnt exist

Sometimes it takes 200pips while you are getting coffee

It's the whippiest pair and a white knuckle ride

I love it - especially when i don't lose much - havent had a big win for yonks but I am doing ok - just !

Take care ! Vorsicht ! Cuidado ! watch thisen !
  • #83,257
  • Aug 20, 2008 11:15am Aug 20, 2008 11:15am
looks like we came to the 8620 resistance .... will see how that goes
  • #83,258
  • Aug 20, 2008 11:17am Aug 20, 2008 11:17am
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  • #83,259
  • Aug 20, 2008 11:18am Aug 20, 2008 11:18am
its hit the 1.861x mark what do u think ? any one
  • #83,260
  • Aug 20, 2008 11:21am Aug 20, 2008 11:21am
Quoting islan405
its hit the 1.861x mark what do u think ? any one
if it pass 8620 then look if 8635 will brake and continue uptrend otherwise sell at 8635...... thats just my opinion it should not be right
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