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Cable Update (GBPUSD)

  • #111,241
  • Jan 13, 2009 6:37pm Jan 13, 2009 6:37pm
Quoting uut
hehe i risk my hole money if the pattern is beatifulllll
dont risk all your money in everytrade.....

PSi' had blown up my account, previous months ago)
Thanks. Sorry to here that. I know I'm not alone.

I do still have £37.64 left

If this run lasts for a few hundred pips it'll give me a fighting chance..lol

Hope its not bouncing of the 15m 50..
  • #111,242
  • Jan 13, 2009 6:44pm Jan 13, 2009 6:44pm
Quoting Si Tr4d3r
Thanks. Sorry to here that. I know I'm not alone.

I do still have £37.64 left

If this run lasts for a few hundred pips it'll give me a fighting chance..lol

Hope its not bouncing of the 15m 50..
Don't fret! You want to see that the 5/10 hold it. She's also crossed the 35 and remember, that's a setup there alone to go the oppossite direction when she crossed the 35sma. If we geth through the 35sma and 50ema, then you can probably breathe some. I want to see price at this point at get above 4560.
Just digging in the trenches like everyone else!
  • #111,243
  • Jan 13, 2009 6:44pm Jan 13, 2009 6:44pm
Quoting eohater
Now you have me drooling! 6 lots for 700 pips. YEAH! That would get my money back for sure that I loaned out last week.
Well the way I see it is were not going anywhere until we've tested that downward trendline again which is currently at 5270 but might be a lot lower by the time we get there, if it holds then new lows are likely. if it breaks then onto 57xx

or the alternative scenario is we dive all the way down to 4345
  • #111,244
  • Jan 13, 2009 6:45pm Jan 13, 2009 6:45pm
Quoting eohater
Don't fret! You want to see that the 5/10 hold it. She's also crossed the 35 and remember, that's a setup there alone to go the oppossite direction when she crossed the 35sma. If we geth through the 35sma and 50ema, then you can probably breathe some. I want to see price at this point at get above 4560.
See how the last 15m candle didn't close below the 5/10? Now this 15m candle should run for the 50ema.
Just digging in the trenches like everyone else!
  • #111,245
  • Jan 13, 2009 6:46pm Jan 13, 2009 6:46pm
I'm still trying to figure out the MAs and how you read them to determine potential entry points or where it may go to. EO, I printed the material off your link but I was trying to figure out the logic behind the 15 min to enter, etc. I'm going to get it because I got some ground to make up, laughing.
  • #111,246
  • Jan 13, 2009 6:48pm Jan 13, 2009 6:48pm
Quoting PipLand
Well the way I see it is were not going anywhere until we've tested that downward trendline again which is currently at 5270 but might be a lot lower by the time we get there, if it holds then new lows are likely. if it breaks then onto 57xx

or the alternative scenario is we dive all the way down to 4345
Remember technically, we should make a lower low since we did make a lower high. Although, a test of the upper trendline is possible for another push down. She could be on the verge of making a wedge pattern if that's the case.
Just digging in the trenches like everyone else!
  • #111,247
  • Jan 13, 2009 6:50pm Jan 13, 2009 6:50pm
Quoting newbe
I'm still trying to figure out the MAs and how you read them to determine potential entry points or where it may go to. EO, I printed the material off your link but I was trying to figure out the logic behind the 15 min to enter, etc. I'm going to get it because I got some ground to make up, laughing.
Couple Price Action with the MA's. That'll help you understand. Remember, ma's are nothing more than floating support/resistance. With Price Action, use the ma's as targets for TP and moving your SL.
Just digging in the trenches like everyone else!
  • #111,248
  • Jan 13, 2009 6:51pm Jan 13, 2009 6:51pm
Quoting eohater
Remember technically, we should make a lower low since we did make a lower high. Although, a test of the upper trendline is possible for another push down. She could be on the verge of making a wedge pattern if that's the case.
yeah im very worried about the upper trend line at around 4630, if we clear that then we should go a lot higher
  • #111,249
  • Jan 13, 2009 6:52pm Jan 13, 2009 6:52pm
I have seen that word price action thrown around alot. How do you measure price action, is there an indicator for it. Maybe a dumb question
  • #111,250
  • Jan 13, 2009 6:54pm Jan 13, 2009 6:54pm
Quoting PipLand
yeah im very worried about the upper trend line at around 4630, if we clear that then we should go a lot higher
Don't worry! Just keep your stop trailing and follow the PA. I'll be looking for a short off the 1h 62/50. They've merged and that could provide a nice bounce southward. We've broken the upper trendling on the 1h chart. Now, she just needs to keep moving north for about 250 pips.
Just digging in the trenches like everyone else!
  • #111,251
  • Jan 13, 2009 6:55pm Jan 13, 2009 6:55pm
Quoting newbe
I have seen that word price action thrown around alot. How do you measure price action, is there an indicator for it. Maybe a dumb question
No, it's not a dumb question. It's about candle patterns. I don't know of an indicator for it. The only indicator's I use are my ma's. The PA is like driving a car at this point. You see certain candle formations that pop out after a while.
Just digging in the trenches like everyone else!
  • #111,252
  • Jan 13, 2009 6:57pm Jan 13, 2009 6:57pm
Ok guys, make sure your positions are covered. Family time for me. I'll be back online later.
Just digging in the trenches like everyone else!
  • #111,253
  • Jan 13, 2009 6:59pm Jan 13, 2009 6:59pm
Quoting eohater
Don't worry! Just keep your stop trailing and follow the PA. I'll be looking for a short off the 1h 62/50. They've merged and that could provide a nice bounce southward. We've broken the upper trendling on the 1h chart. Now, she just needs to keep moving north for about 250 pips.
yeah i'll keep my eye on it, I dunno if I will short at the 1hr 62 though will see how it goes
  • #111,254
  • Jan 13, 2009 7:00pm Jan 13, 2009 7:00pm
Quoting eohater
Ok guys, make sure your positions are covered. Family time for me. I'll be back online later.
cool cheers, i'll prob be in bed by then but good luck with your positions, see ya
  • #111,255
  • Jan 13, 2009 7:02pm Jan 13, 2009 7:02pm
Quoting PipLand
yeah i'll keep my eye on it, I dunno if I will short at the 1hr 62 though will see how it goes
There's not guarantee I'll short her either there. But I will have my eye on it for sure.

Have a good rest and we'll battle tomorrow again!
Just digging in the trenches like everyone else!
  • #111,256
  • Jan 13, 2009 7:02pm Jan 13, 2009 7:02pm
Quoting newbe
I have seen that word price action thrown around alot. How do you measure price action, is there an indicator for it. Maybe a dumb question
price action is the movement up and down, the change in value of the currency pair in question. its the charts you see in front of you.

good luck with the trading
  • #111,257
  • Jan 13, 2009 7:02pm Jan 13, 2009 7:02pm
Quoting eohater
Don't fret! You want to see that the 5/10 hold it. She's also crossed the 35 and remember, that's a setup there alone to go the oppossite direction when she crossed the 35sma. If we geth through the 35sma and 50ema, then you can probably breathe some. I want to see price at this point at get above 4560.
Thanks eo,

I see it. I can sleep for now..
  • #111,258
  • Jan 13, 2009 7:04pm Jan 13, 2009 7:04pm
Quoting Si Tr4d3r
Thanks eo,

I see it. I can sleep for now..
Set you SL green and relax my friend. You just saw how one of my setups work. If I wasn't long or didn't have a position. I would have shorted after the candle that closed through the 15m 35sma. When she wouldn't break the 5/10. I would have closed and went back long after the following candle closed that failed to close below the 5/10.
Just digging in the trenches like everyone else!
  • #111,259
  • Jan 13, 2009 7:08pm Jan 13, 2009 7:08pm
Quoting eohater
There's not guarantee I'll short her either there. But I will have my eye on it for sure.

Have a good rest and we'll battle tomorrow again!
cheers EO, catch you later
  • #111,260
  • Jan 13, 2009 7:09pm Jan 13, 2009 7:09pm
Pipland, what is the target for the 1hr 62. For everyones chart is that number the same
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