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Cable Update (GBPUSD)

  • #95,021
  • Oct 31, 2008 5:18am Oct 31, 2008 5:18am
Quoting PipGal
We can only dream....I will be happy with 6280 close to 1H 62 EMA
If this 15 gann holds and price go up and break 1 hr gann at 6310 area 4hr is at 6503 area and daily at 6618 with some pivot line as well.Last time we tested that daily gann for 5 times.3 peaks,2 falls with 300 pips+-,3 up moves same 300 pips and then down for 1600pips.So not inpossible.BUT..

This last 15 m candle if close this way,well..don't look good for any long.RSI is below 50,momentum is below 0 and MACD ispositive but remeber reverse bearish divergance is in progres.If plays out then we go more down from heare.

If we close soon below 6153 then i thing this done for another short,but will wait US session and cowboys,to see what they think.Oh men i should stay with first short.Never mind,can't be in + all the time.
  • #95,022
  • Oct 31, 2008 5:19am Oct 31, 2008 5:19am
Quoting \"expert\"
Oh MIcho So happy that we are finaly on the same side.Especialy that i went long.BUT if this 15gann of mine flips again and he is at 6164 for now and we are alredy below 1 hr and 4 hr gann then that 6123 is so near and i think then it will be tpouched and maybe breaking that level.And this new retrace system of mine is .But it takes more then 1 try to make something good and working only next time i will try on demo and on real account playing all good system that i do.
you can compare me to the gann indicator myself, my mood flips up and down so i hope you can understand my brain's malfunction sometimes... speaking about gann, you keep talking about this indicator... i have the gann high low indicator... can you post your gann indicator in order for me to download it and see how you trade? i am still scared of longs all this week that passed because the daily trend is down and i play without stop loss.... of course i could have taken alot of longs this week but with stop loss and dont really know the outcome of these trades... (percentage of winning)

i wait for a possible short above 1.63, but most probably i wont trade today so dunno whats gonna happen but i doubt to break 1.6123
When life gives you lemons, make lemonade
  • #95,023
  • Oct 31, 2008 5:23am Oct 31, 2008 5:23am
Attached Image (click to enlarge)
Click to Enlarge Name: mood_swings_front_cover.jpg Size: 41 KB
When life gives you lemons, make lemonade
  • #95,024
  • Oct 31, 2008 5:24am Oct 31, 2008 5:24am
Cable usualy plays 50 -61 fib when trending.Last up move we are at 38 fib.50 is at 5970 area and 61 at 5800 area. so i think we will be theare today.will see what will this 15 min gan do.And need to see are we in range.
  • #95,025
  • Oct 31, 2008 5:26am Oct 31, 2008 5:26am
well, is this it for today for the shorts? she tested 1.6139 one more time, is it the last? i hope so
When life gives you lemons, make lemonade
  • #95,026
  • Oct 31, 2008 5:27am Oct 31, 2008 5:27am
hey i'm glad the two of you make it back again...
please be like this and discuss it together... (i'm the listener, and u can be the preacher )
thx
Money management is good for your health...
  • #95,027
  • Oct 31, 2008 5:32am Oct 31, 2008 5:32am
Heare is chart as well.I always say so little charts posted heare so..
Tht 38 hold for now and gann and everything.Last 3 candles are saying WE DON'T KNOW WHICH WAY,PLEASE TELL US.If i am not long alredy hear i will give long order.With small SL.Small risk and good place if goes up.If not then i will go short up to 50 or even 61 fib
Attached Image (click to enlarge)
Click to Enlarge Name: cable 1 hr.gif Size: 21 KB
  • #95,028
  • Oct 31, 2008 5:35am Oct 31, 2008 5:35am
If you can't see picture well i will try to save it as JPG.Hope it would be better then.I on notebook and i never made sreenshoots from him.I have just gif as type of files,can't find print screnn button.
  • #95,029
  • Oct 31, 2008 5:42am Oct 31, 2008 5:42am
The general consensus is that the BoE will cut rates by -0.5%. When this happens, the exchange rate will fall. If it does fall to 1.50 what do you guys think will happen from that point? Do you think it will retrace back up, or continue to fall?
Probability Professor
  • #95,030
  • Oct 31, 2008 5:44am Oct 31, 2008 5:44am
Quoting ezmystic
Are you trading them or just watching?
Those trades were too obvious to just "watch" bro...:nerd:Also... it was very clear in the day chart..... especially eu....I went in once both right shoulders were confirmed... eu already closed at 2680 for over 200 green ones and gu still open with stop well in green...
Patience + Discipline - Greed = Success
  • #95,031
  • Oct 31, 2008 5:47am Oct 31, 2008 5:47am
Quoting Infinity
Those trades were too obvious to just \"watch\" bro...:nerd:Also... it was very clear in the day chart..... especially eu....I went in once both right shoulders were confirmed... eu already closed at 2680 for over 200 green ones and gu still open with stop well in green...
What is your advice if I'm not in a position? I'm waiting for a bounce to the 1hr 62 EMA...to short I mean
  • #95,032
  • Oct 31, 2008 5:51am Oct 31, 2008 5:51am
Ok heare is another fibonachi.

If look abc move it looks that 61 is arround this area we are now.

1a2 move shows that if this point 2 is final end of fall for now ,we might go to blue 27 level 6500area or even to 61 6980

This abc letters got nothing with Elliot wave theory.I just use them as marking points.

This is not trade signal just way of thinking.I don't know how much you use them but try.Learn,practice
Attached Image (click to enlarge)
Click to Enlarge Name: cable 1 hr.gif Size: 14 KB
  • #95,033
  • Oct 31, 2008 5:55am Oct 31, 2008 5:55am
Quoting PipGal
What is your advice if I'm not in a position? I'm waiting for a bounce to the 1hr 62 EMA...to short I mean
I think that is a good plan you have there. If I was not already in a position I would probably do the same.. there is lots of resistance at 6250-70 now.. I think next week will be bearish prior to the rate decisions and we could retest the lows or even break through them...Today's close should be interesting...
Patience + Discipline - Greed = Success
  • #95,034
  • Oct 31, 2008 6:01am Oct 31, 2008 6:01am
Quoting Infinity
I think that is a good plan you have there. If I was not already in a position I would probably do the same.. there is lots of resistance at 6250-70 now.. I think next week will be bearish prior to the rate decisions and we could retest the lows or even break through them...Today's close should be interesting...
Thanks Infinity. On the 4H chart its hard to tell if it will break the 4H 50 SMA or bounce off it
  • #95,035
  • Oct 31, 2008 6:02am Oct 31, 2008 6:02am
Heare is another chart.Hope this support line on indicators will hold
Attached Image (click to enlarge)
Click to Enlarge Name: cable 15m.GIF Size: 30 KB
  • #95,036
  • Oct 31, 2008 6:04am Oct 31, 2008 6:04am
Sorry for picture.Don't know why is white.Other indicator that you can't see is RSI21
  • #95,037
  • Oct 31, 2008 6:11am Oct 31, 2008 6:11am
Call me crazy but i add another long.I think we need that retrace befor more down.Just cant tell will it go to 4 gr gann and 6500 area or even daily gann or just testing last high on 15 m.
  • #95,038
  • Oct 31, 2008 6:17am Oct 31, 2008 6:17am
you're not crazy...
it's moving upwards now...
i should have go in with u
Money management is good for your health...
  • #95,039
  • Oct 31, 2008 6:19am Oct 31, 2008 6:19am
I agree that it will still go up as it seems no-one is selling at this level. May all change rapidly again after the market opens tho...
Ride the Bulls bearback!
  • #95,040
  • Oct 31, 2008 6:24am Oct 31, 2008 6:24am
Quoting ezmystic
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.
Thanks for your answer , I will going back on the post.
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