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Cable Update (GBPUSD)

  • #101,241
  • Nov 26, 2008 2:27am Nov 26, 2008 2:27am
Quoting Turtle
You too huh, couldn't sleep either.....

Woke up about an hour ago, kids are out of school so I figured I start a little earlier today.

About to go exercise in the garage until she decides where she is going.

HOLLA
Have a good workout! We'll pick up in the US Session.
Just digging in the trenches like everyone else!
  • #101,242
  • Nov 26, 2008 2:30am Nov 26, 2008 2:30am
Quoting eohater
Have a good workout! We'll pick up in the US Session.
Cool, I'll check you then, get some sleep.

HOLLA
  • #101,243
  • Nov 26, 2008 2:43am Nov 26, 2008 2:43am
We are following the Fibs from the high of yesterday to the low of today at the current time. You can see we had a perfect 61.8 bounce and are now hung up on the 23.6. I think all the news at 8:30 may be holding up progress at this point. At this point I would enter long if we break the high of the day and short if we break the low. I think I will wait till after the news though.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cabletoday1hr.gif Size: 18 KB
Zone Breakout Method
  • #101,244
  • Edited 2:54am Nov 26, 2008 2:50am | Edited 2:54am
Here is the 15 min chart with a little extra junk on it but looks pretty much the same as 1hr I posted. Notice I still have yesterdays fibs in black. That move is still dominant in the long term and the 38.2 is strong support.
I would possibly take a long position if we bounce from this 38.2 again and definitely short if we don't.

Hope this helps someone.
Attached Image (click to enlarge)
Click to Enlarge Name: cabletoday15min.gif Size: 22 KB
Zone Breakout Method
  • #101,245
  • Nov 26, 2008 2:53am Nov 26, 2008 2:53am
Quoting PowerTrader
We are following the Fibs from the high of yesterday to the low of today at the current time. You can see we had a perfect 61.8 bounce and are now hung up on the 23.6. I think all the news at 8:30 may be holding up progress at this point. At this point I would enter long if we break the high of the day and short if we break the low. I think I will wait till after the news though.

PT
Im waitting below 61.8 fibo first, will see where it goes
GELORE
  • #101,246
  • Nov 26, 2008 3:00am Nov 26, 2008 3:00am
Cheers PT. I was riding the short nicely but closed it out at 5350 after the M1 volumes spiked and bounced on that last thrust. There is now an increase in volume suddenly so I will stand aside and see if what's in play or also take a break before the US results.

Quoting PowerTrader
Here is the 15 min chart with a little extra junk on it but looks pretty much the same as 1hr I posted. Notice I still have yesterdays fibs in black. That move is still dominant in the long term and the 38.2 is strong support.
I would possibly take a long position if we bounce from this 38.2 again and definitely short if we don't.

Hope this helps someone.
Ride the Bulls bearback!
  • #101,247
  • Nov 26, 2008 3:04am Nov 26, 2008 3:04am
Quoting alcando
Cheers PT. I was riding the short nicely but closed it out at 5350 after the M1 volumes spiked and bounced on that last thrust. There is now an increase in volume suddenly so I will stand aside and see if what's in play or also take a break before the US results.
Good play! Did you take your short from the 61.8 bounce? I think you are right, it makes sense to wait till the price action picks up and gives us some more information.
Zone Breakout Method
  • #101,248
  • Nov 26, 2008 3:06am Nov 26, 2008 3:06am
Hi All. I have been following this thread for the last couple of months now and really enjoy the great spirit [not the religious type] and great analysis of cable.

I am new to this and as my profile name suggests I have lost loads trying to work out this girl even though I did pretty well on her for the last 6 months in demo.

Keep up the good work guys [and gals]

Eohater and Infinity I would love to learn more about the MA's you use regularly .... Any pointers would be really great.
  • #101,249
  • Nov 26, 2008 3:06am Nov 26, 2008 3:06am
Quoting alcando
Cheers PT. I was riding the short nicely but closed it out at 5350 after the M1 volumes spiked and bounced on that last thrust. There is now an increase in volume suddenly so I will stand aside and see if what's in play or also take a break before the US results.
Who dares wins
GELORE
  • #101,250
  • Nov 26, 2008 3:08am Nov 26, 2008 3:08am
my targets 5320,5300,5250
  • #101,251
  • Nov 26, 2008 3:10am Nov 26, 2008 3:10am
Quoting falsestart
Hi All. I have been following this thread for the last couple of months now and really enjoy the great spirit [not the religious type] and great analysis of cable.

I am new to this and as my profile name suggests I have lost loads trying to work out this girl even though I did pretty well on her for the last 6 months in demo.

Keep up the good work guys [and gals]

Eohater and Infinity I would love to learn more about the MA's you use regularly .... Any pointers would be really great.
Hello and welcome, I have not been in this thread long but I have found some great traders here. I would advise you to learn Fibonacci and most of all money management if you want to succeed in Forex. I trade full time and manage a fund with many clients, but we all started somewhere. Good luck!

PT
Zone Breakout Method
  • #101,252
  • Nov 26, 2008 3:16am Nov 26, 2008 3:16am
Quoting PowerTrader
Hello and welcome, I have not been in this thread long but I have found some great traders here. I would advise you to learn Fibonacci and most of all money management if you want to succeed in Forex. I trade full time and manage a fund with many clients, but we all started somewhere. Good luck!

PT
yep i keep learning everyday as well, trading needs balls so im trying to build my balls
When life gives you lemons, make lemonade
  • #101,253
  • Nov 26, 2008 3:17am Nov 26, 2008 3:17am
Quoting "expert"
my targets 5320,5300,5250

Those targets are certainly looking possible at this point. You hit the first and very close on the second. I would think if we get past the low of today you will more than hit your third. Good post.
Zone Breakout Method
  • #101,254
  • Nov 26, 2008 3:21am Nov 26, 2008 3:21am
Quoting micho
yep i keep learning everyday as well, trading needs balls so im trying to build my balls
Balls are great but knowledge is better. I know a lot of guys with balls and an empty account and I bet you do too. I think if you see how some of these guys in this thread are positioning themselves you will learn a lot. I do this full time and I have seen some great trading here this week already. I really like that most people in here tell you where they are going ahead of time and don't just announce there great trades after the fact. These are the guys I would watch.
Zone Breakout Method
  • #101,255
  • Nov 26, 2008 3:22am Nov 26, 2008 3:22am
target is 1.473x stop loss 1.56 but i didnt take the trade... too big for my account now to trade daily
When life gives you lemons, make lemonade
  • #101,256
  • Nov 26, 2008 3:24am Nov 26, 2008 3:24am
Quoting PowerTrader
Balls are great but knowledge is better. I know a lot of guys with balls and an empty account and I bet you do too. I think if you see how some of these guys in this thread are positioning themselves you will learn a lot. I do this full time and I have seen some great trading here this week already. I really like that most people in here tell you where they are going ahead of time and don't just announce there great trades after the fact. These are the guys I would watch.
i am not telling my trades on time because alot of people will blame me if the trade turned to a loss... lol and it happened before since some people here misunderstand my calls... better not to say your trades cause some people rely on what they see in this forum. i just do mostly analysis as for trades i am still positive, not by much but i am getting my share
When life gives you lemons, make lemonade
  • #101,257
  • Nov 26, 2008 3:26am Nov 26, 2008 3:26am
Quoting micho
target is 1.473x stop loss 1.56 but i didnt take the trade... too big for my account now to trade daily
Take shorter trades, that is too big of a stop loss in my mind. If we break support go short and have a good idea of profit taking based on Fib levels or even an ma and the same if we break resistance. It seems to me you are attempting to position trade with a small account.
Zone Breakout Method
  • #101,258
  • Nov 26, 2008 3:28am Nov 26, 2008 3:28am
Quoting micho
i am not telling my trades on time because alot of people will blame me if the trade turned to a loss... lol and it happened before since some people here misunderstand my calls... better not to say your trades cause some people rely on what they see in this forum. i just do mostly analysis as for trades i am still positive, not by much but i am getting my share
I agree with you but everyone should understand they are responsible for their own trading. I would be happy to watch you call a trade and I may join you or not.
Zone Breakout Method
  • #101,259
  • Nov 26, 2008 3:29am Nov 26, 2008 3:29am
Huhuhuhu..... new low for the day.D
  • #101,260
  • Nov 26, 2008 3:31am Nov 26, 2008 3:31am
Quoting PowerTrader
Take shorter trades, that is too big of a stop loss in my mind. If we break support go short and have a good idea of profit taking based on Fib levels or even an ma and the same if we break resistance. It seems to me you are attempting to position trade with a small account.
i am not taking large trades cause they have also large stop loss... but now i wouldn't take a small short position because RSI 1h and 4h is flying >50 still... it will run your stop quickly... for short position in my opinion the best one is to take it on daily from the 1.54 after the 4h engulfing candle closed earlier... for long trades i will take any signal based on the 15m up trends because they are safe until rsi on the 1h turns negative... then i would take short trends in the 5M chart...
When life gives you lemons, make lemonade
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