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Cable Update (GBPUSD)

  • #92,321
  • Oct 17, 2008 12:39pm Oct 17, 2008 12:39pm
Like somebody said here, the Dow Jones is UP, so is the CABLE.
  • #92,322
  • Oct 17, 2008 12:41pm Oct 17, 2008 12:41pm
Quoting micho
lol rsi>50 remember......

Sigh, so much to learn....thanks buddy.
  • #92,323
  • Oct 17, 2008 12:41pm Oct 17, 2008 12:41pm
Quoting PipGal
I don't know anymore. Sigh. I've used all of them and they seem to turn on me

Typically I only use 30 mins or longer. I cannot follow the noise

BTW, correct me if I am wrong, but there is a Bearish Divergence on cable now, so I am thinking of shorting here (1.7345)
when u see diverence and not sure post a chart, this way we can see what yur doing and try to help u
  • #92,324
  • Oct 17, 2008 12:50pm Oct 17, 2008 12:50pm
Quoting nAVIN2007
when u see diverence and not sure post a chart, this way we can see what yur doing and try to help u
Hey bro, the divergence I am seeing is actually on an Aussie/ USD pair I am trading, regardless can you tell me if this is a valid divergence for a short?
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  • #92,325
  • Oct 17, 2008 12:53pm Oct 17, 2008 12:53pm
No indication reverse down !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #92,326
  • Edited 1:05pm Oct 17, 2008 1:04pm | Edited 1:05pm
Quoting PipGal
Hey bro, the divergence I am seeing is actually on an Aussie/ USD pair I am trading, regardless can you tell me if this is a valid divergence for a short?
on 4hr chart I can see a reversed H&S - I am long from 6858 +130 now
I do not know if it is good decision but I still keep it
Jesus Christ is my only Lord !
  • #92,327
  • Edited 1:22pm Oct 17, 2008 1:07pm | Edited 1:22pm
Quoting PipGal
Hey bro, the divergence I am seeing is actually on an Aussie/ USD pair I am trading, regardless can you tell me if this is a valid divergence for a short?
yes there is but i just checked the 1hr and 4hr and it look bullish like crazy nothing saying it will sink....so the diverence on it own means nothing...i wont short but this is yur indecision i never traded the currency b4

might be good for 20 pips or so

bearish engulfing pattern on 15 minute and 30 got a hammer..its only going to be retrace
dailly trend is down..but yesterday candle suggest today going to be bullish...and may have found resistance on dailly..good for a few pips maybe

very conflicting just boke out of the traingle but there diverence and lower time frame back it up...only diverence doesnt always work infact its impossible to know if it will
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  • #92,328
  • Oct 17, 2008 1:10pm Oct 17, 2008 1:10pm
Quoting PipGal
Hey bro, the divergence I am seeing is actually on an Aussie/ USD pair I am trading, regardless can you tell me if this is a valid divergence for a short?
I like eur/aud even more
Jesus Christ is my only Lord !
  • #92,329
  • Oct 17, 2008 1:11pm Oct 17, 2008 1:11pm
lol, close my short with 0 pips and 8 pips. and i'm building long
  • #92,330
  • Oct 17, 2008 1:12pm Oct 17, 2008 1:12pm
Quoting eohater
I'm headed for lunch. I have no idea where cable is going but I have a pending short order placed at 1.7370 to play off the 4h 50ema. I don't know if we'll get there. Being that it's Friday she might just hang around her current price 25 pips up and down for the rest of the day.
Damn! Just got back in from lunch and see that my pending order didn't get filled. Missed it by 20 pips!
Just digging in the trenches like everyone else!
  • #92,331
  • Oct 17, 2008 1:13pm Oct 17, 2008 1:13pm
Quoting nAVIN2007
yes there is but i just checked the 1hr and 4hr and it look bullish like crazy nothing saying it will sink....so the diverence on it own means nothing...i wont short but this is yur indecision i never traded the currency b4

might be good for 20 pips or so

I understand now. Just a divergence alone is not indication for a short, right?

Thank you.
  • #92,332
  • Oct 17, 2008 1:14pm Oct 17, 2008 1:14pm
damn cable, now it's moving down. building long order
  • #92,333
  • Oct 17, 2008 1:16pm Oct 17, 2008 1:16pm
Quoting PipGal
Hey bro, the divergence I am seeing is actually on an Aussie/ USD pair I am trading, regardless can you tell me if this is a valid divergence for a short?
It looks like to me you have a lot of profit on the trade you have open..... If it were me I would be banking that $$$$$$$$$$$ now! hehe
  • #92,334
  • Oct 17, 2008 1:20pm Oct 17, 2008 1:20pm
yeah, play safe. bank 1/2 and set 1/2 to B.E +1
  • #92,335
  • Oct 17, 2008 1:20pm Oct 17, 2008 1:20pm
Quoting joeblack
yeah, play safe. bank 1/2 and set 1/2 to B.E +1

Well, I got so scared by the fact it was bullish that I didn't take the trade.

DAMN I should have
  • #92,336
  • Oct 17, 2008 1:22pm Oct 17, 2008 1:22pm
Quoting PipGal
I don't know anymore. Sigh. I've used all of them and they seem to turn on me

Typically I only use 30 mins or longer. I cannot follow the noise

BTW, correct me if I am wrong, but there is a Bearish Divergence on cable now, so I am thinking of shorting here (1.7345)
I am done trading for the day. I don't like to trade on Fridays unless I see really good setups. You must not chase the market. Wait for it to come to you. Monthly, weekly, daily and H4 are the best to use to determine trend direction. You can use smaller tfs to find your entry point, but higher timeframes rule...
Patience + Discipline - Greed = Success
  • #92,337
  • Oct 17, 2008 1:24pm Oct 17, 2008 1:24pm
Quoting Infinity
I am done trading for the day. I don't like to trade on Fridays unless I see really good setups. You must not chase the market. Wait for it to come to you. Monthly, weekly, daily and H4 are the best to use to determine trend direction. You can use smaller tfs to find your entry point, but higher timeframes rule...
100% correct and couldnt have said it better
  • #92,338
  • Oct 17, 2008 1:24pm Oct 17, 2008 1:24pm
, u better trade when market is slowing down. to learn the rythem.
go go cable 7282
  • #92,339
  • Oct 17, 2008 1:28pm Oct 17, 2008 1:28pm
if i just trust my system.
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  • #92,340
  • Oct 17, 2008 1:30pm Oct 17, 2008 1:30pm
Quoting PipGal
Well, I got so scared by the fact it was bullish that I didn't take the trade.

DAMN I should have

u see now its gone down its a signal if the 1 hr closes as a bearish engulfing pattern id enter myself only its fri ....then u have 3 signals:

downtrend
bearish diverence
candle signal on higher time frame...

trade has a chance u need at least 3 things to back up yur decision
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