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Cable Update (GBPUSD)

  • #86,301
  • Sep 8, 2008 12:47am Sep 8, 2008 12:47am
Quoting dznmrd
I'm monitoring on 6 time frames,

Weekly,daily,4h,1h,m30,m5 ....

Attachment

It looks uptrend to me for now, besides that the fact that the price started 100-200pips above last weeks close is another indication of uptrend and also the fact that NFP and Unemployment news came out bad on friday..

I think even a kid could know its an uptrend from all this.... But hey.. still cant say unless it hit 1.8000 at least once.
I decided to take one last look at the comments before I go to bed and I saw this post..... I think you are using your words a bit loosely......what you are trying to say is a that a POSSIBLE TREND CHANGE is taking place. This could be a simple retracement or it could be the change of the trend, but your comments that I highlighted above makes me think you got some studying to do...

.....or maybe you don't speak english very well...
Patience + Discipline - Greed = Success
  • #86,302
  • Sep 8, 2008 12:55am Sep 8, 2008 12:55am
Quoting Infinity
I decided to take one last look at the comments before I go to bed and I saw this post..... I think you are using your words a bit loosely......what you are trying to say is a that a POSSIBLE TREND CHANGE is taking place. This could be a simple retracement or it could be the change of the trend, but your comments that I highlighted above makes me think you got some studying to do...

.....or maybe you don't speak english very well...
The highlight words are a figure of speech which meant that everything's indicating an uptrend and even the price moving up now...

Even AUDUSD, EURUSD, NZDUSD going up ....... looks like the dollar is weakening very bad .

The week also starts 100-200 pips above last weeks close and NFP bad, its too obvious, but hey who can say ... maybe it could be jsut a simple retracement....

(sorry, my english isnt bad, but hey this is a discussion forum and not a english/grammer class, sometimes people get to lazy to bother about proper english typing)
  • #86,303
  • Sep 8, 2008 12:57am Sep 8, 2008 12:57am
the thing is there is a LOT of downward (overall) force pushing on the dollar to increase.
pesonally however powerfull F-mac and F-mae influenced the market for the last few hours, it's not enough to change directions.

YES there is bound to be a retrace, but remember, your average retrace happens during "average" market conditions, and the GBP is gettin hammered for the first time in a long time, hence, these are not average market conditions.

But really...i don't give a crap which way it goes, i trade a 5M sys that makes me money in any direction.
peace and pips people. much love
  • #86,304
  • Sep 8, 2008 12:59am Sep 8, 2008 12:59am
Goood morning to all, is anybody looking for a SFB @1,79759? And what is daily pivot, cause smth doesn't match to me?
  • #86,305
  • Sep 8, 2008 1:04am Sep 8, 2008 1:04am
Quoting Ritz
4hr chart below.
Bro, the trend on you chart is a 1month long trend, are you really going to keep you trade open for soo long.

Each candle there on the 4hour chart is 240minutes long, 6 candles make up one day and 30 candles make up the entire week,

there's so many factors in between that could affect the trend like news and stuff,

Its very very lagged to decide, Bro besides that the candles in the 4hour are around 50-100 pips big, i think you would need a generous 100-200 pip stoploss if u decided to open on the 4hour,

Just my opinion, maybe im wrong...
  • #86,306
  • Sep 8, 2008 1:10am Sep 8, 2008 1:10am
any good reason or explaination for what's happening right now?
I recommend you read something else as this sentence is now concluded.
  • #86,307
  • Sep 8, 2008 1:11am Sep 8, 2008 1:11am
FYI, your UP trend just gave me over 60 pips on a short.
  • #86,308
  • Sep 8, 2008 1:14am Sep 8, 2008 1:14am
a 6.1 unemployment is something very hard to digest
so it might be what we need for a trend change but waiting for technical confirmation
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #86,309
  • Sep 8, 2008 1:14am Sep 8, 2008 1:14am
Quoting Obaidah
any good reason or explaination for what's happening right now?
US gov released news on Taking over freddie mac and fannie mae, market shot up, frankfurt just opened and is going short like a mo-fo
  • #86,310
  • Sep 8, 2008 1:29am Sep 8, 2008 1:29am
Quoting dakrusha
US gov released news on Taking over freddie mac and fannie mae, market shot up, frankfurt just opened and is going short like a mo-fo
if the PPI input come worse-than-expected then i think we gonna have the trend resumed.
I recommend you read something else as this sentence is now concluded.
  • #86,311
  • Sep 8, 2008 2:31am Sep 8, 2008 2:31am
Quoting dznmrd
I'm monitoring on 6 time frames,

Weekly,daily,4h,1h,m30,m5 ....

Attachment

It looks uptrend to me for now, besides that the fact that the price started 100-200pips above last weeks close is another indication of uptrend and also the fact that NFP and Unemployment news came out bad on friday..

I think even a kid could know its an uptrend from all this.... But hey.. still cant say unless it hit 1.8000 at least once.
i monitor 6 time frames as well.
1D is pure downtrend
4H is a downtrend but MACD divergence
1H is an uptrend that has retraced to 61%
15M is a pure downtrend
5M is a pure downtrend
1M is a pure uptrend

So it all depends on which trend you are following to talk about the "TREND"

Long signal would be 1.7850.
I dont have any Short signals at the moment
When life gives you lemons, make lemonade
  • #86,312
  • Sep 8, 2008 2:50am Sep 8, 2008 2:50am
OK...half day really!!! Jusr my 2 cents, but i really don't see any big drop coming for the rest of the day....the whole day. Anything can happen, but this pair has been fairly volatile, and todays range has already exceeded the weekly and monthly averages for a daily range. The last big hourly drop basically used the range so it's bounced back w/i the range this hour. That gives the big boys back 50 pips to drop again if the upcoming news is bad. Unfortunately i woke up to late to catch the big move down...the price had gone up to w/i 15 pips of my alarm level but didn't trip it...oh well...maybe next time!!
  • #86,313
  • Sep 8, 2008 3:13am Sep 8, 2008 3:13am
next target 1.7714, didnt see that signal coming off the 38% of the 1H fibo hehe
was quick
When life gives you lemons, make lemonade
  • #86,314
  • Sep 8, 2008 3:19am Sep 8, 2008 3:19am
next target 1.7643
When life gives you lemons, make lemonade
  • #86,315
  • Sep 8, 2008 3:27am Sep 8, 2008 3:27am
Quoting dznmrd
Bro, the trend on you chart is a 1month long trend, are you really going to keep you trade open for soo long.

Each candle there on the 4hour chart is 240minutes long, 6 candles make up one day and 30 candles make up the entire week,

there's so many factors in between that could affect the trend like news and stuff,

Its very very lagged to decide, Bro besides that the candles in the 4hour are around 50-100 pips big, i think you would need a generous 100-200 pip stoploss if u decided to open on the 4hour,

Just my opinion, maybe im wrong...
Just wait and see where market going.
  • #86,316
  • Sep 8, 2008 3:27am Sep 8, 2008 3:27am
Quoting micho
next target 1.7643
Surely not...daily range is already almost 300 pips...50% above average!! On alighter note someone could've woke up from their weekend coma..checked the price...oh yeah...my shorts still fine...no big deal...back to sleep!!lol
  • #86,317
  • Sep 8, 2008 3:30am Sep 8, 2008 3:30am
Quoting PippinAintEZ
Surely not...daily range is already almost 300 pips...50% above average!! On alighter note someone could've woke up from their weekend coma..checked the price...oh yeah...my shorts still fine...no big deal...back to sleep!!lol
if 1.7843 holds the next target would be 1.7643

i am not saying that it will reach there.. if the 7843 holds then the tendency is to reach the target there before any move up
When life gives you lemons, make lemonade
  • #86,318
  • Sep 8, 2008 3:32am Sep 8, 2008 3:32am
Quoting micho
if 1.7843 holds the next target would be 1.7643

i am not saying that it will reach there.. if the 7843 holds then the tendency is to reach the target there before any move up
now there is a trailing stop which is 1/7760... if it holds then the tendency is to touch the target
When life gives you lemons, make lemonade
  • #86,319
  • Sep 8, 2008 3:34am Sep 8, 2008 3:34am
anyone going long now?
  • #86,320
  • Sep 8, 2008 3:35am Sep 8, 2008 3:35am
Quoting Ritz
anyone going long now?
not me, no signals now
When life gives you lemons, make lemonade
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