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Cable Update (GBPUSD)

  • #100,061
  • Nov 21, 2008 4:56am Nov 21, 2008 4:56am
I was only looking for 20 pips or a good entry. With the current equities retracement I may hold it and see what happens..

Quoting PowerTrader
I would have taken that movement simply because it was a range of over 280 pips from the bottom yesterday and it seemed very likely would would bounce on the previous day's high as we do in most cases. I still have my second position in from 1.4780 but I will pull it if we drop much more or fail to make a move at the opening bell. We have had a pretty good range today already but it is possible lately to range much more.

PT
Ride the Bulls bearback!
  • #100,062
  • Nov 21, 2008 5:05am Nov 21, 2008 5:05am
Quoting "expert"
Hi all.We closed above 4 hr gann so now retracment to 4940-48015 on next 1 hr candle i hope and then more up.If we close aggain on next 4 hr below gann then we are ranging.No trades then for me i think.Daily divergance is not played all the way so 5200 today possible again in the end.

QQE system on 1 hr and 4 hr telling last night big retrace on up.I didnt belive it because i don't use that QQE on big TF and look 5000 area now.Now untill 1 hr QQe cros down again and we break gann on down on 1 hr no big down.

If you are short from my charts ...then...
please post charts and explain cause i dont use gann or qq
When life gives you lemons, make lemonade
  • #100,063
  • Nov 21, 2008 5:05am Nov 21, 2008 5:05am
Quoting alcando
I closed my long at 990 and went short. All the other currencies that were doing well against USD are resisting now. EUR also banged into a Diag TL so it will take something special to get thru here imho. Looks like the equities confidence is slipping too so there may be a few pips in shorts I think.
nice long man, but still no signal for short so be careful not to lose in the short what you won in the long
When life gives you lemons, make lemonade
  • #100,064
  • Nov 21, 2008 5:06am Nov 21, 2008 5:06am
Looking like a good call...
Quoting PowerTrader
I would have taken that movement simply because it was a range of over 280 pips from the bottom yesterday and it seemed very likely would would bounce on the previous day's high as we do in most cases. I still have my second position in from 1.4780 but I will pull it if we drop much more or fail to make a move at the opening bell. We have had a pretty good range today already but it is possible lately to range much more.

PT
Ride the Bulls bearback!
  • #100,065
  • Nov 21, 2008 5:09am Nov 21, 2008 5:09am
FYI
Attached Image (click to enlarge)
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When life gives you lemons, make lemonade
  • #100,066
  • Nov 21, 2008 5:10am Nov 21, 2008 5:10am
Cheers dude. I closed it for +5. Should have stuck to the original plan but hey..

Nice long PT.

Quoting micho
nice long man, but still no signal for short so be careful not to lose in the short what you won in the long
Ride the Bulls bearback!
  • #100,067
  • Nov 21, 2008 5:13am Nov 21, 2008 5:13am
but this time we have divergence on the 1h and 4h so be careful on the shorts without signal
When life gives you lemons, make lemonade
  • #100,068
  • Nov 21, 2008 5:14am Nov 21, 2008 5:14am
now things are possible... maybe 1.51x then down to 1.48x or 1.50x then down to 1.47x or 1.52x then down to 1.49x
When life gives you lemons, make lemonade
  • #100,069
  • Nov 21, 2008 5:15am Nov 21, 2008 5:15am

Any senior posting chart?
im getting confuse where to go?
Plzz show us guide...

Learning, is a never ending processs...
  • #100,070
  • Nov 21, 2008 5:19am Nov 21, 2008 5:19am
the more we move up, the higher the next target would be... if we break the 79% then the trend is not valid anymore
Attached Image (click to enlarge)
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When life gives you lemons, make lemonade
  • #100,071
  • Nov 21, 2008 5:20am Nov 21, 2008 5:20am
Notice we bounce on the 61.8 on the hour chart. This is a two day move so this fib level is very strong. If we break through we could run another 100 pips for the day, but it is also a very likely place to turn.

PT

As I started to post this chart we are already challenging this level again. I will not pull my final long until this area has rejected price.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #100,072
  • Nov 21, 2008 5:21am Nov 21, 2008 5:21am
Quoting micho
the more we move up, the higher the next target would be... if we break the 79% then the trend is not valid anymore

Looks like we were looking at the same thing.
Zone Breakout Method
  • #100,073
  • Nov 21, 2008 5:21am Nov 21, 2008 5:21am
Yes, the beauty of this market is the uncertainty. Looks like this is headed up on the back of optimism but even if there is an initial or late rally in the US, it just can't last...

Quoting micho
now things are possible... maybe 1.51x then down to 1.48x or 1.50x then down to 1.47x or 1.52x then down to 1.49x
Ride the Bulls bearback!
  • #100,074
  • Nov 21, 2008 5:24am Nov 21, 2008 5:24am
Quoting alcando
Yes, the beauty of this market is the uncertainty. Looks like this is headed up on the back of optimism but even if there is an initial or late rally in the US, it just can't last...
Great point and as you stated earlier trading short at the end of the day by watching the Dow sell off has been a good strategy and would be again today if it were not Friday.

PT
Zone Breakout Method
  • #100,075
  • Nov 21, 2008 5:26am Nov 21, 2008 5:26am
You think we may be in for a sustained rally in the close?

Quoting PowerTrader
Great point and as you stated earlier trading short at the end of the day by watching the Dow sell off has been a good strategy and would be again today if it were not Friday.

PT
Ride the Bulls bearback!
  • #100,076
  • Nov 21, 2008 5:27am Nov 21, 2008 5:27am
Quoting PowerTrader
Looks like we were looking at the same thing.
yeah maybe (im looking for someone like this)
Attached Image
When life gives you lemons, make lemonade
  • #100,077
  • Nov 21, 2008 5:29am Nov 21, 2008 5:29am
Here is the 4hr and if you understand Fibonacci, it all makes sense right here.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cabletoday4hr2.gif Size: 23 KB
Zone Breakout Method
  • #100,078
  • Nov 21, 2008 5:30am Nov 21, 2008 5:30am
Quoting alcando
You think we may be in for a sustained rally in the close?
I won't even try to predict. I only react to what is happening. My days of trying to predict ended the same time I started to make money in Forex....lol.
Zone Breakout Method
  • #100,079
  • Nov 21, 2008 5:31am Nov 21, 2008 5:31am
Quoting Infinity
Not my usual trading session....
....but I am short from the 1h 62ema (entry price 1.4878)...
My sl got hit at +1 on this trade while I slept....
I went short again at the 4h 50ema just now (price 1.5055)...
I will set stop to +1 as soon as possible because there is a lot of manipulation going on....
Patience + Discipline - Greed = Success
  • #100,080
  • Nov 21, 2008 5:34am Nov 21, 2008 5:34am
Quoting Infinity
My sl got hit at +1 on this trade while I slept....
I went short again at the 4h 50ema just now (price 1.5055)...
I will set stop to +1 as soon as possible because there is a lot of manipulation going on....
Probably another very good call. We have hit the 61.8 on the hour. A trend line and 23.6 on the 4hr so there should be some retrace. On the other hand I am vested in my long position for now.
Zone Breakout Method
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