Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#101,261
Nov 26, 2008 5:33am Nov 26, 2008 5:33am

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

Down trend prevail on M5 ! Becarefull with long ! Hmm.. wait for up a bit 1.5345-1.5365 to go short !

But I might be wrong !

I only trade XAU/USD. Based on USD news & Fib SR & BB20

#101,262
Nov 26, 2008 5:38am Nov 26, 2008 5:38am

musani
| Joined Jun 2008 | Status: GELORE | 600 Posts

Quoting manize

Disliked

Down trend prevail on M5 ! Becarefull with long ! Hmm.. wait for up a bit 1.5345-1.5265 to go short !

Ignored

Yes i agree with u. Today trend is not like yesterday

GELORE

#101,263
Nov 26, 2008 5:38am Nov 26, 2008 5:38am

micho
Joined Mar 2008 | Status: Fooled by randomness | 8,362 Posts

also the problem with aiming to 1.473x is with the bullish divergence in the 4h and daily charts... just an additional reason why i didnt take it but divergence can be very lagging and takes alot of time so who knows...

When life gives you lemons, make lemonade

#101,264
Nov 26, 2008 5:43am Nov 26, 2008 5:43am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting eohater

Disliked

I do like the pin indeed, but I'm not favoring a short. I'm currently long from the 15m 35 where I had closed out my short from. I'm not holding anything very long until she makes up her mind where she's going. Scalping her for what I can get while I'm awake.

Ignored

very wise..

#101,265
Nov 26, 2008 5:51am Nov 26, 2008 5:51am

Vourvoul
| Joined Nov 2008 | Status: Trader | 449 Posts

Anyone using metatrader, could you please tell me why my Fibs don't change colour when I tell them to at the edit objects menu?

Thanks

#101,266
Nov 26, 2008 5:51am Nov 26, 2008 5:51am

alcando
| Joined Jul 2008 | Status: Pip Pincher | 758 Posts

Thanks. Pity I exited so soon actually. I was long earlier to the 61.8 fib following the China news but when the FTSE started plunging I thought there may be merit in the short near that level and took 70 pips off the short.
It has certainly started to whipsaw now. I tried the bounce off the 5300 but got in at the wrong level and hurt myself with a short stop. Bugger.

Eur and GBP normally correlate reasonably well but this bit of action did not play on both. Did I miss some news or something technical?

Quoting PowerTrader

Disliked

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.

Ignored

Ride the Bulls bearback!

#101,267
Nov 26, 2008 5:53am Nov 26, 2008 5:53am

PowerTrader
| Joined Apr 2007 | Status: Trader | 438 Posts

Quoting Vourvoul

Disliked

Anyone using metatrader, could you please tell me why my Fibs don't change colour when I tell them to at the edit objects menu?

Thanks

Ignored

There are two places to change colors. Try changing on fibo levels and not common.

Zone Breakout Method

#101,268
Nov 26, 2008 5:54am Nov 26, 2008 5:54am

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

Quoting manize

Disliked

Down trend prevail on M5 ! Becarefull with long ! Hmm.. wait for up a bit 1.5345-1.5365 to go short ! But I might be wrong !

Ignored

Damn, if I did'nt doubtfull, I'll have +50 pips by short at 1.5350 ! Nope, wait for another test !

I only trade XAU/USD. Based on USD news & Fib SR & BB20

#101,269
Nov 26, 2008 5:56am Nov 26, 2008 5:56am

soartosky
| Joined Sep 2008 | Status: Still Taking Stupid Risks | 176 Posts

hard to crack that 00

Lets Soar The Sky

#101,270
Nov 26, 2008 5:58am Nov 26, 2008 5:58am

PowerTrader
| Joined Apr 2007 | Status: Trader | 438 Posts

Quoting alcando

Disliked

Thanks. Pity I exited so soon actually. I was long earlier to the 61.8 fib following the China news but when the FTSE started plunging I thought there may be merit in the short near that level and took 70 pips off the short.
It has certainly started to whipsaw now. I tried the bounce off the 5300 but got in at the wrong level and hurt myself with a short stop. Bugger.

Eur and GBP normally correlate reasonably well but this bit of action did not play on both. Did I miss some news or something technical?

Ignored

I think you nailed it. The markets are down a little everywhere and the Dow Futures are already down 50 points. The way the Forex markets have been following the Stock markets may be what we are seeing at this time. Just a thought.

Zone Breakout Method

#101,271
Nov 26, 2008 5:59am Nov 26, 2008 5:59am

eohater
Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts

Quoting falsestart

Disliked

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.

Ignored

Welcome to the Cable thread. Please enjoy yourself and contribute and ask questions when you have them. If your new to trading, please go to babypips.com and go through all their classes, it will be time well spent. MA's take time and an understanding to their nature. I've posted on my thread which MA's I use and on what time frames (link in signature). Hopefully this will help you out.

Trade well!

Just digging in the trenches like everyone else!

#101,272
Nov 26, 2008 6:01am Nov 26, 2008 6:01am

micho
Joined Mar 2008 | Status: Fooled by randomness | 8,362 Posts

now if we see 41 then stop loss at be at 21... target 67

When life gives you lemons, make lemonade

#101,273
Nov 26, 2008 6:03am Nov 26, 2008 6:03am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting Vourvoul

Disliked

Anyone using metatrader, could you please tell me why my Fibs don't change colour when I tell them to at the edit objects menu?

Thanks

Ignored

works for me....maybe restart yur platform

#101,274
Nov 26, 2008 6:04am Nov 26, 2008 6:04am

micho
Joined Mar 2008 | Status: Fooled by randomness | 8,362 Posts

my wish is that it goes to 1.56... to make some 10000 pips down hahahah

i know eo's wish is that too

but i doubt it cause they dont want to give us easy money.

When life gives you lemons, make lemonade

#101,275
Nov 26, 2008 6:04am Nov 26, 2008 6:04am

Alastair
| Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts

any one looking for a bounce down off the 35sma on the 15 min chart?

Keep It Simple Stupid

#101,276
Nov 26, 2008 6:06am Nov 26, 2008 6:06am

Vourvoul
| Joined Nov 2008 | Status: Trader | 449 Posts

Quoting PowerTrader

Disliked

There are two places to change colors. Try changing on fibo levels and not common.

Ignored

Thanks, I'll give it a go after this.

So, I find myself unable to push the trigger to go short given the 4H and daily bullish divergence, as micho, mentioned earlier.

My plan is to wait for the US session when things start picking up. I will be waiting for a bounce off the 61.8 which will in turn take us higher than yesterday's high.

This is the plan but it will depend on price action at the time. Given that the 1h 62ema (special thanks to eohater and infinity) lies just above that 61.8 I expect a strong bounce nortwards.

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