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Cable Update (GBPUSD)

  • #103,341
  • Dec 2, 2008 9:02pm Dec 2, 2008 9:02pm
Quoting pipinup
Right... I mean, what trading strategies do you use?
I use pivots and MA's and let the price action show entries... I keep it very simple. I trade only gu. entry charts are 1m, 5m, and 15m, trend charts are 1h, 4h, ... profit target charts are daily and monthly.
USD Est Non Mortuus
  • #103,342
  • Dec 2, 2008 9:16pm Dec 2, 2008 9:16pm
Quoting LuckyLurker
I use pivots and MA's and let the price action show entries... I keep it very simple. I trade only gu. entry charts are 1m, 5m, and 15m, trend charts are 1h, 4h, ... profit target charts are daily and monthly.
How do you figure your profit targets using daily?
  • #103,343
  • Dec 2, 2008 9:19pm Dec 2, 2008 9:19pm
This is why I favour a long:
Attached Image (click to enlarge)
Click to Enlarge Name: history.JPG Size: 127 KB
  • #103,344
  • Dec 2, 2008 9:25pm Dec 2, 2008 9:25pm
Quoting AmeriTrini
This is why I favour a long:

prob for a few more hours that will play. if/when that LTL pops though its going to dip hard.. I think the price is just jackin around before another huge move down personally.. I'll watch either way and get some long or short hopefully.. who knows really.. I'll just be a good little sheep and follow the herd when it decides to move. Thanks for your chart AT, always enjoy reading your thoughts on PA.
USD Est Non Mortuus
  • #103,345
  • Dec 2, 2008 9:31pm Dec 2, 2008 9:31pm
Quoting LuckyLurker
prob for a few more hours that will play. if/when that LTL pops though its going to dip hard.. I think the price is just jackin around before another huge move down personally.. I'll watch either way and get some long or short hopefully.. who knows really.. I'll just be a good little sheep and follow the herd when it decides to move. Thanks for your chart AT, always enjoy reading your thoughts on PA.

No problem,......if I can help someone make a lil $ thats cool with me......cause ALOT of members have helped me, including yourself.......
  • #103,346
  • Dec 2, 2008 9:34pm Dec 2, 2008 9:34pm
Quoting pipinup
How do you figure your profit targets using daily?
Well lately on gu you have to use the monthly to even find the next level of support if your anticipating another break down.. But auto pivots the same on all charts.. I just like to blow out the price and have a look at some history once in awhile. Makes me feel more in tune.
USD Est Non Mortuus
  • #103,347
  • Dec 2, 2008 10:19pm Dec 2, 2008 10:19pm
Quoting nAVIN2007
check this mofo out....this is really chessing me off! ...the dollar is totally confused about direction
guess what nav. what a sleep i had. i'm just awake now and damn confused at what i saw. the cable have a lot of u-turn.

so nav, are you still holding your shorts???
  • #103,348
  • Dec 2, 2008 10:27pm Dec 2, 2008 10:27pm
Heres what im seeing.

On the 4h chart blow it out abit and look at some data for the last 2 month.

This price action looks like the same ascending wedge it been doing right before it breaks lower. Plunges, consolidates, ascending wedge, plunge.

Could this be the consolidation where the trend finally turns and goes way north? sure, it could be.. i mean anything goes.. but in a trend this strong, you need some serious confirmation before calling a bottom.

I'm not saying I don;t go long in the current market, but 90% are shorts. and the PA is riding that lower trend line (LTL) ascending wedge and in the recent past, several times its broke out lower from here.. much lower.

just my 2 pips...
USD Est Non Mortuus
  • #103,349
  • Dec 2, 2008 10:34pm Dec 2, 2008 10:34pm
Quoting gagakrimba
It's hovering around the pivot level.
We'll see some movement upward in the area 1.51XX in the asian session
are you always on the BULL market?? you dont play short at all??
  • #103,350
  • Dec 2, 2008 11:01pm Dec 2, 2008 11:01pm
Quoting AmeriTrini
This is why I favour a long:

theres that LTL 2 being tested here.. see this is kinda messed up.. cuz we have like 3 LTL's on this lower channel wall.. lots of sketched people basically taking profit or getting stopped all over the place here..
Attached Image (click to enlarge)
Click to Enlarge Name: xaej.jpg Size: 314 KB
USD Est Non Mortuus
  • #103,351
  • Dec 2, 2008 11:17pm Dec 2, 2008 11:17pm
since yesterday's trade i was -150 i'm trying to put myself in the positive thinking now. it's only the second day of the month. still plenty of time and plenty of chances.

the bad thing is that waiting for the withdrawal which i made last tuesday(25/11/2008) from my current broker it is just sucks. whether its my bank or them(the broker) is slow.

  • #103,352
  • Dec 2, 2008 11:19pm Dec 2, 2008 11:19pm
Quoting moewenger
are you always on the BULL market?? you dont play short at all??
No lor bro.....
just short @ 1.4905
  • #103,353
  • Dec 2, 2008 11:33pm Dec 2, 2008 11:33pm
For those needing the Auto Pivot Indy.
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 467 downloads
USD Est Non Mortuus
  • #103,354
  • Dec 2, 2008 11:42pm Dec 2, 2008 11:42pm
I think it's time to short this baby.
She is 50 Pips below pivot now
  • #103,355
  • Dec 2, 2008 11:44pm Dec 2, 2008 11:44pm
Quoting gagakrimba
No lor bro.....
just short @ 1.4905
how are so sure in your trade? just now you said it's good for long. but all i see now is always a u-turn at the front for cable. it's ranging. but you found direction?? can you tell me??
  • #103,356
  • Dec 2, 2008 11:49pm Dec 2, 2008 11:49pm
Quoting moewenger
how are so sure in your trade? just now you said it's good for long. but all i see now is always a u-turn at the front for cable. it's ranging. but you found direction?? can you tell me??
It's a simple game to me.
below pivot i short and vice versa
  • #103,357
  • Dec 2, 2008 11:51pm Dec 2, 2008 11:51pm
Quoting LuckyLurker
For those needing the Auto Pivot Indy.
Thank you brother. I can not open the file. How can I solve that problem ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #103,358
  • Dec 2, 2008 11:57pm Dec 2, 2008 11:57pm
Quoting manize
Thank you brother. I can not open the file. How can I solve that problem ?
You do not have to open the file.
Just drag it to you Meta trader folder and put it in "experts\indicators" folder.
Close your Meta and re-open.
It should be on the custom indicators list on the right.
  • #103,359
  • Dec 3, 2008 12:23am Dec 3, 2008 12:23am
Quoting LuckyLurker
For those needing the Auto Pivot Indy.

thank youhttp://www.forexfactory.com/images/icons/icon10.gif
  • #103,360
  • Dec 3, 2008 12:24am Dec 3, 2008 12:24am
Quoting moewenger
since yesterday's trade i was -150 i'm trying to put myself in the positive thinking now. it's only the second day of the month. still plenty of time and plenty of chances.

the bad thing is that waiting for the withdrawal which i made last tuesday(25/11/2008) from my current broker it is just sucks. whether its my bank or them(the broker) is slow.

You broker sucks. What time they claim to complete the withdrawal?
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