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Cable Update (GBPUSD)

  • #94,821
  • Oct 30, 2008 7:07am Oct 30, 2008 7:07am
Quoting focuson
could you please explain me , how this ema and the others indicators , tha are mencined in this thead ,like Emas,Mas ..., in what TF , and the properties,if this is no too much
If you put the 62ema (estimated moving average) on your 1hr chart it very often hits this and retraces back down. Look back at eohaters posts and fidn the one where he says what ema's etc he uses on which timeframes, put them on your charts and then watch the candles. You really need to know also what the candles are saying and then use this info as your turning points and the ema's as moving resistance/support levels and targets. Put it all together and it gives you a good basis for market movements.

Also go back and save any charts eohater has put up, they have explanations and they are very helpful, study them and go back over your charts to see what he is saying.

Hope this helps.
please DON'T copy my trades I am still learning
  • #94,822
  • Oct 30, 2008 7:10am Oct 30, 2008 7:10am
Quoting micho
could blow either ways from here... its itchy to touch 1.6765 and itchy to drop back down like a b**** to 1.5XXL
Hello there Micho. Could you explain what the significance of 1.6765 is in your opinion? Is it a fib level? Thanks
  • #94,823
  • Oct 30, 2008 7:17am Oct 30, 2008 7:17am
Quoting spintrader
yeah I'm still thinking more north. One last trip up before, we begin the inevitable drop again.
How far north will it go before it will drop?
  • #94,824
  • Oct 30, 2008 7:18am Oct 30, 2008 7:18am
i got +53 for today
but i think i need to go buy some pills with them because im crazy from the ranging
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When life gives you lemons, make lemonade
  • #94,825
  • Oct 30, 2008 7:22am Oct 30, 2008 7:22am
who knows how far north, 1.6700 wouldn't suprise me at all, I guess it depends on the us gdp figures, and If they have any significant effect on price.
  • #94,826
  • Oct 30, 2008 7:22am Oct 30, 2008 7:22am
Quoting linleysound
Hello there Micho. Could you explin what the significance of 1.6765 is in your opinion? Is it a fib level? Thanks
its the fibonacci extension level 100% or target number 2 for the daily up trend that started few days back

if u want to long anywhere, set a good stop loss because this might reverse down as well, the market is mixed
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When life gives you lemons, make lemonade
  • #94,827
  • Oct 30, 2008 7:29am Oct 30, 2008 7:29am
Quoting Dutchi
How far north will it go before it will drop?
I would like to see it break 1.6700 convincingly before it break 1.7000
  • #94,828
  • Oct 30, 2008 7:33am Oct 30, 2008 7:33am
Quoting micho
its the fibonacci extension level 100% or target number 2 for the daily up trend that started few days back

if u want to long anywhere, set a good stop loss because this might reverse down as well, the market is mixed

Cheers for that, it makes sense now
  • #94,829
  • Oct 30, 2008 7:39am Oct 30, 2008 7:39am
Quoting linleysound
Cheers for that, it makes sense now
listen i just took the Fibonacci extension of the daily chart, its most significant because the trend is the widest and the candles are all green, you know what i might

once u open any chart and locate a nice trend with all red candles or all green candles, it would be a strong trend and you will find an endless number of trends in all charts but the daily is very significant.
look at how beautiful it is
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When life gives you lemons, make lemonade
  • #94,830
  • Edited 7:49am Oct 30, 2008 7:48am | Edited 7:49am
Morning all.I go short at 6550.because we test 15 m gann and not break it.Looking for pivot 6434 and maybe for DP area.On 1 hr below gann on 4 hr above so need to decide which way.Untill then sculp or even better not to trade as for me.

On 15 MACD is below zero but sightly positive,momentum and rsi below also,AStoch also.

Below that pivot we are below icimoku cloud so if break that pivot hope to see testing of 4hr gann.If not closing and wait to see will it break 1 hr gann.
  • #94,831
  • Oct 30, 2008 7:51am Oct 30, 2008 7:51am
Quoting micho
listen i just took the Fibonacci extension of the daily chart, its most significant because the trend is the widest and the candles are all green, you know what i might

once u open any chart and locate a nice trend with all red candles or all green candles, it would be a strong trend and you will find an endless number of trends in all charts but the daily is very significant.
look at how beautiful it is
wow...It's very interesting micho...I wish they are my girlfriends...
Trend is my girlfriend ..
  • #94,832
  • Oct 30, 2008 7:59am Oct 30, 2008 7:59am
Ichimoku cloud holding price very strong.Closed for 90 pips.if breaks that pivot and claoud will enter short again.Will see what will new momentum and 1 hr candle bring.If goes up will see to short agin later if stays below gann

Maybe range untill late afternoon again
  • #94,833
  • Oct 30, 2008 7:59am Oct 30, 2008 7:59am
Quoting \"expert\"
Morning all.I go short at 6550.because we test 15 m gann and not break it.Looking for pivot 6434 and maybe for DP area.On 1 hr below gann on 4 hr above so need to decide which way.Untill then sculp or even better not to trade as for me.

On 15 MACD is below zero but sightly positive,momentum and rsi below also,AStoch also.

Below that pivot we are below icimoku cloud so if break that pivot hope to see testing of 4hr gann.If not closing and wait to see will it break 1 hr gann.
Expert, I am curious to understand your system. You obviously look at Gann right? Do you plot the Hi Lo? If the price is below Gann, it's a short? and vice versa?
  • #94,834
  • Oct 30, 2008 8:00am Oct 30, 2008 8:00am
Quoting wiz6
wow...It's very interesting micho...I wish they are my girlfriends...
Trend is my girlfriend ..
so you have a million girlfriend, good for you, dont forget to pick the most significant girlfriend... that lasts months or weeks or days, not hours nor minutes looool
When life gives you lemons, make lemonade
  • #94,835
  • Oct 30, 2008 8:01am Oct 30, 2008 8:01am
I got +50 pips from short at 1.6517 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #94,836
  • Oct 30, 2008 8:04am Oct 30, 2008 8:04am
i was stopped out at 6425. i think it would test pivot, also the 1h 200 ema or 4h 50 ema, before decide a way. i will wait for 4h candles move out from they are now. (in between 62 and 100)
  • #94,837
  • Oct 30, 2008 8:04am Oct 30, 2008 8:04am
do it still have sign of a bullish move?
i got stopped because i trade the news...
dammit...
Money management is good for your health...
  • #94,838
  • Oct 30, 2008 8:11am Oct 30, 2008 8:11am
On 1 hr we are below ex-suport line If price touch that line going short with small SL.Small risk.In that area is gann also and 1 pivot line as well, and ichimoku line as well.We will be still in ichimoku claod and that is not good for trend traders but will try.If not going down fast and other indicators vhange position will close of course.

That last 1 hr candle don't look good way it is closed.Not expert for patterns but not looking good for some kin of direction sign.Could be name bullish harami but not sure.My indicator shows that as bulish harami but as i said don't know for my self.Anybody heare knowing little more about candle patterns?
  • #94,839
  • Oct 30, 2008 8:11am Oct 30, 2008 8:11am
Betting luck. Short at 1.6586..
  • #94,840
  • Oct 30, 2008 8:25am Oct 30, 2008 8:25am
another quick 41
total 53+41 +chill pills
When life gives you lemons, make lemonade
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