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Cable Update (GBPUSD)

  • #7,401
  • Mar 1, 2007 6:54am Mar 1, 2007 6:54am
Quoting patricio0793
Thanks for the help.. Im not this useless all the time.. honest!!!

I just love Forex and want to make it my full time job.. seen as I sit any my pc at home all day now anyway!!

Have you noticed the GBPJPY is on a charge south again.. could be some useful areas to short or long coming up..
Yup, I just found 20 pips on the floor, lol
  • #7,402
  • Mar 1, 2007 6:55am Mar 1, 2007 6:55am
Quoting henrycarol
Well it is not historical lows for g/j

maybe 201 is
You're right... let's call it "recent past" then. Cable's 9800 is already looking so distant in the past
  • #7,403
  • Mar 1, 2007 6:56am Mar 1, 2007 6:56am
A break out of 618 - 644 will give short term direction bias. Resistance from houly down-trendline. for 618, trendline support on 10M chart. A break to the downside will need to be followed by a break of 600 for meaningful move.
  • #7,404
  • Mar 1, 2007 7:04am Mar 1, 2007 7:04am
Quoting 17121712
A break out of 618 - 644 will give short term direction bias. Resistance from houly down-trendline. for 618, trendline support on 10M chart. A break to the downside will need to be followed by a break of 600 for meaningful move.
Agree 100%.

News + cocaine in Wall Street may drags out of this stinking range...
  • #7,405
  • Mar 1, 2007 7:05am Mar 1, 2007 7:05am
Reading through some of the posts I wondered how may traders are using the 1m chart to help in this range bound market.

I find them invaluable, not only for scalping, but also for confirming a longer term entry.

The screen shot shows both 5m and 1m charts. The extra detail allowed a nice buy at 11:03 after price held at the 50% retrace of the earlier, news induced rally. Entry was at 9619 - allowing for a 3 pip spread.

I had a target of 9650 fro the previous move, but as soon as the tweezers appeared at 11:25, chose to exit at 9635. I actually went short, but closed that after the small graveyard doji at 11:41 - managed 3 pips out of that too.
Trading Levels with WRBs
  • #7,406
  • Mar 1, 2007 7:07am Mar 1, 2007 7:07am
Quoting Islander
Reading through some of the posts I wondered how may traders are using the 1m chart to help in this range bound market.

I find them invaluable, not only for scalping, but also for confirming a longer term entry.

The screen shot shows both 5m and 1m charts. The extra detail allowed a nice buy at 11:03 after price held at the 50% retrace of the earlier, news induced rally. Entry was at 9619 - allowing for a 3 pip spread.

I had a target of 9650 fro the previous move, but as soon as the tweezers appeared at 11:25, chose to exit at 9635. I actually went short, but closed that after the small graveyard doji at 11:41 - managed 3 pips out of that too.
Woops...need the screen shot! lol
Attached Image
Trading Levels with WRBs
  • #7,407
  • Mar 1, 2007 7:09am Mar 1, 2007 7:09am
Quoting Islander
Reading through some of the posts I wondered how may traders are using the 1m chart to help in this range bound market.

I find them invaluable, not only for scalping, but also for confirming a longer term entry.

The screen shot shows both 5m and 1m charts. The extra detail allowed a nice buy at 11:03 after price held at the 50% retrace of the earlier, news induced rally. Entry was at 9619 - allowing for a 3 pip spread.

I had a target of 9650 fro the previous move, but as soon as the tweezers appeared at 11:25, chose to exit at 9635. I actually went short, but closed that after the small graveyard doji at 11:41 - managed 3 pips out of that too.
I use 5m for entry confirmation. For long I prefer 1hr / 15M poiting up / 5m indicators up, blowing up preferred and crossing mid BB.

On trending market, price usualy goes on bouncing this BB. Once it crosses in the opposite direction, my "pull the plug" alarm goes off.

Rarely the 1m.
  • #7,408
  • Mar 1, 2007 7:21am Mar 1, 2007 7:21am
Now lets see if im reading this correct.. GBPCAD has just broken its fib resistance to stay long. can anybody confirm this??
  • #7,409
  • Mar 1, 2007 7:22am Mar 1, 2007 7:22am
30 min chart: bullish; h1 chart: starting bearish; h4 chart: bearish...
i'm staying flat.
Nihil Sine Deo.
  • #7,410
  • Mar 1, 2007 7:39am Mar 1, 2007 7:39am
Damn price barely moved.... I was to buy at 9600....

Still clueless, still out, still B/E, lousy cocaine-free Thursday in the horizon.
  • #7,411
  • Mar 1, 2007 7:41am Mar 1, 2007 7:41am
Quoting Scrat
30 min chart: bullish; h1 chart: starting bearish; h4 chart: bearish...
i'm staying flat.
heheheh, man, I love your avatar... I can almost hear Scrat going "aaaaahhhhhh" when this market is that stinking
  • #7,412
  • Mar 1, 2007 7:44am Mar 1, 2007 7:44am
Quoting cesarnc
Damn price barely moved.... I was to buy at 9600....

Still clueless, still out, still B/E, lousy cocaine-free Thursday in the horizon.

HA! Yup, gonna be one of those days!
Show me the PIPS!
  • #7,413
  • Mar 1, 2007 7:52am Mar 1, 2007 7:52am
It looks like the 4th tiny daily doji in a row just like on 9 of 10 last days.. the cable is literally frozen to death. We should all start trading g/j instead
  • #7,414
  • Mar 1, 2007 7:54am Mar 1, 2007 7:54am
Quoting lionn77
It looks like the 4th tiny daily doji in a row just like on 9 of 10 last days.. the cable is literally frozen to dead. We should all start trading g/j instead
Yes.... I was looking at UJ at 188.20s today, thinking about shorting it. Then I went "naaaahh... it is not going below 118.00".
  • #7,415
  • Mar 1, 2007 8:02am Mar 1, 2007 8:02am
Quoting cesarnc
Yes.... I was looking at UJ at 188.20s today, thinking about shorting it. Then I went "naaaahh... it is not going below 118.00".

Yeah , that's like me looking at EUR/JPY on 2-27 and saying "oh this thing is done. I'm too late". It was 157.00 then, today it's at 155.20. Whoops!
Show me the PIPS!
  • #7,416
  • Mar 1, 2007 8:04am Mar 1, 2007 8:04am
I'll wait for the next piece of garbage.. I mean, news and then see what to do... Most likely doing nothing at all today...
  • #7,417
  • Mar 1, 2007 8:05am Mar 1, 2007 8:05am
Quoting tathlynq
Yeah , that's like me looking at EUR/JPY on 2-27 and saying "oh this thing is done. I'm too late". It was 157.00 then, today it's at 155.20. Whoops!


SAME HERE !!!!!!!!!
  • #7,418
  • Mar 1, 2007 8:06am Mar 1, 2007 8:06am
Dojis at monthly, dojis at weekly ,daily and now at hourly chart... but there is still some room left down the road. When we can see dojis at 1m chart it will be time for breakout
  • #7,419
  • Mar 1, 2007 8:11am Mar 1, 2007 8:11am
Well, i gotta say it loves the 9640 resistance doesnt it..
  • #7,420
  • Mar 1, 2007 8:13am Mar 1, 2007 8:13am
I would be making a killing if I could trade "to the right"... Next target: 1200...

I'm bored...
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