go down.... to 1.9430
- #6,764
- Feb 22, 2007 2:25am Feb 22, 2007 2:25am
- | Joined Sep 2006 | Status: Forex Newbie | 1,517 Posts
anyone see this back fire spikes please ppl???!!
I catch the second one by the sheer luck, +30 pips in 2 secs
I'm afraid now, the MACD is crazy !!
What a nice stops hunting by MiG FX! No spike here, that was a fake.Anyway, FYI:
DJ MARKET TALK: Talk Of Cable Stops Below 1.9450 - Trader
Thu Feb 22 03:20:54 2007
EST
0821 GMT [Dow Jones] Trader hears talk of stops in cable below 1.9450. Says
these may be triggered later in the session as EUR/USD looks a tad soft, and
any break below 1.3080 support could spread USD buying among the majors. Cable
now at 1.9485, EUR/USD at 1.3095.
Tra-X
- #6,774
- Feb 22, 2007 3:41am Feb 22, 2007 3:41am
- Joined Jan 2007 | Status: Trader | 1,407 Posts
I don't think you should be afraid of such spikes when you are with a reputable rokers.
I had same prblem with FXDD 3 weeks ago (hundreds of pips down in GU), and they fixed it and refunded all harmed accounts, even demo accounts were dealed with. I had the following response when I asked about it:
--------------------------------------------------------------------
Today, 1/29/2007 at 4:51 am EST, FXDD received an erroneous price feed from one of our liquidity providing banks in the GBP/USD. It is our understanding that this phenomenon affected most positions and pending orders involving GBP/USD and GBP crosses.
FXDD is working as quickly as possible to remedy this problem by identifying any and all accounts that may have been affected. If you suspect your account was one of these, please send an e-mail including your full name, account number and trading platform to [color=black][color=#000000][i][email protected][/i][/color][/color] and we will investigate/process claims that you document.
We appreciate your patience and cooperation and apologize for the inconvenience.
--------------------------------------------------------------------
Since MIG is a reputable company, I don't think you have to worry about your account
yes they reply with the same words
bye my fast 30 pips
- #6,777
- Feb 22, 2007 6:29am Feb 22, 2007 6:29am
My wave count was blown off the window yesterday (got stopped out altho still in profit), hence I did a re-count based on current pattern that is being shown. Let's see what will happen next.
Possible target of subwave 2 (orange) is around 1.9464 - 1.9491 area. Just my opinion. Wish me luck and good luck to all.
PS Nice overlapping triangles there, Monarch and TheCableGuy.
Hallo every one............well Traex great chart & I learn my mistake from ur chart & it also proved right...............do u fell wave 2 is complete now bcos i think to go up it have bounce back from bottom trendline on daily chart one which MONARCH showed yestraday which is at around 1.9435 ,so wat U fell man
"Trade for sake of trading & not for winning or Lossing"
- #6,778
- Feb 22, 2007 6:39am Feb 22, 2007 6:39am
- | Joined Feb 2007 | Status: Forex Warrior | 187 Posts
Here's what I think of a daily chart. That 1.9450 area is a hard nut to break, it has been tested for about 10 times already with no luck. I think an explosion is coming in a week or so, and GBP/USD will fly like a rocket to the 1.98 area. Maybe some better news for the pund in february will help it to climb. But it will happen (IMHO) anyways. 
- #6,779
- Feb 22, 2007 6:45am Feb 22, 2007 6:45am
Okay Monarch, your always having a blast with the crazy charts, I made one just for you to blind yourself.
Enjoy it, it took me 5 minutes too make. LOL.:
Wow great chart with wonderfull colours.............Thanks keep the great work high above sky............
"Trade for sake of trading & not for winning or Lossing"
- #6,780
- Feb 22, 2007 7:12am Feb 22, 2007 7:12am
- | Joined Sep 2006 | Status: Forex Newbie | 1,517 Posts
Hallo every one............well Traex great chart & I learn my mistake from ur chart & it also proved right...............do u fell wave 2 is complete now bcos i think to go up it have bounce back from bottom trendline on daily chart one which MONARCH showed yestraday which is at around 1.9435 ,so wat U fell man
; well we all can be correct at certain times and wrong at other times. The one that's always correct is the market itself!Yes, most likely subwave 2 is already finished (1.9464 is 78.6% fibo retracement of subwave 1's 1.9430 - 1.9590). If it's not yet, then retracement can't exceed the start of subwave 1 (1.9430) or the count will be invalid (more work again for me sighz lol).
If we're already in subwave 3 upwards, we can use fibo expansion of subwave 1 (1.9430 - 1.9590, 160 pips long) to project the end of subwave 3.
100% of subwave 1: 9461 + 160 = 9621
161.8% of subwave 1: 9461 + 259 = 9720 (most likely, it's 'Henrycarol's' resistance!!!)
261.8% of subwave 1: 9461 + 419 = 9880
Those are possible targets of subwave 3 up.
Above calculations will become invalid once cable hits 1.9430.
Just my opinion.
Tra-X