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Cable Update (GBPUSD)

  • #111,501
  • Jan 14, 2009 9:54am Jan 14, 2009 9:54am
Quoting stellafx162
Hello

GBPUSD technical analysis here:

being at crossroads there are 2 possibilities:

Upside correction:
valid as long as 1.44xx level is not broken
(Inverted Head and shoulder still valid)
see screen below
updated 3:08 Pm gmt time
http://screencast.com/t/2tzRv5dCEk


or Downside continutation move
In case of break of 1.4350 fibs target on fib extensions 161.8% targeting 1.37xx level
see screens below
2009-01-13_2215


Kr
stella
I wish this was more like Cramer where it's BUY BUY BUY or SELL SELL SELL

Charts which show 'Well it could go up or it could go down', are a lot of work for nothing really

Still, if the tea leaves say 'it's uncertain' - then thats what they say - and swishing them around a few more times won't make em say anything clearer I suppose

I say the stock markets are being hammered and that will be the driver - so all we do now is figure out what the latest correlation is - positive or negative
  • #111,502
  • Jan 14, 2009 10:02am Jan 14, 2009 10:02am
Quoting allserene
I wish this was more like Cramer where it's BUY BUY BUY or SELL SELL SELL

Charts which show 'Well it could go up or it could go down', are a lot of work for nothing really

Still, if the tea leaves say 'it's uncertain' - then thats what they say - and swishing them around a few more times won't make em say anything clearer I suppose

I say the stock markets are being hammered and that will be the driver - so all we do now is figure out what the latest correlation is - positive or negative
According to the charts it could be either !!!
  • #111,503
  • Jan 14, 2009 10:09am Jan 14, 2009 10:09am
Quoting Chris_35
Does anyone think that this channel is still in play and if so will it be likely to break north out of the wedge or break the support line and travel further back down into the channel

The downtrend is very strong.
But that channel I think it was broken.
Now she's forming a horizontal one.
We have to wait for her to break it and continue going down.
  • #111,504
  • Jan 14, 2009 10:12am Jan 14, 2009 10:12am
yep.. I see nothing I want to trade on g/u.. still biased short but need good pa to do aything about it.

Quoting tradeinstant
The downtrend is very strong.
But that channel I think it was broken.
Now she's forming a horizontal one.
We have to wait for her to break it and continue going down.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,505
  • Jan 14, 2009 10:18am Jan 14, 2009 10:18am
Quoting Vourvoul
According to the charts it could be either !!!
Well in that case, those of you who are 100% charties have no business holding ANY positions at the moment and should close them

To leave them open is just riding a 'hunch'

Just teasing because I know that the most 'scientific' are as superstitious as the rest when it comes right down to it
  • #111,506
  • Jan 14, 2009 10:31am Jan 14, 2009 10:31am
Quoting GuateForex
You should consider that... because this method has made in it's most wining configuration at the moment this:

WAF
Jan 02: +120 pips
Jan 05: +120 pips
Jan 06: +120 pips
Jan 07: +120 pips
Jan 08: No Trade
Jan 09: +120 pips
Jan 12: +120 pips
Jan 13: +120 pips
Jan 14: +120 pips

Total: +940 pips
Well my friends....

My work is done for today...

Good Traiding for all...

See you Tomorrow!
  • #111,507
  • Jan 14, 2009 11:16am Jan 14, 2009 11:16am
Quoting GuateForex
You should consider that... because this method has made in it's most wining configuration at the moment this:

WAF
Jan 02: +120 pips
Jan 05: +120 pips
Jan 06: +120 pips
Jan 07: +120 pips
Jan 08: No Trade
Jan 09: +120 pips
Jan 12: +120 pips
Jan 13: +120 pips
Jan 14: +120 pips

Total: +940 pips
Good job bro!.....

...but if I was checking the pips like you did, I would probably have 20,000 or so for the week already...
Patience + Discipline - Greed = Success
  • #111,508
  • Jan 14, 2009 11:17am Jan 14, 2009 11:17am
Quoting tradeinstant
I agree with pipland
I got a strong channel between 1.4707 and 1.4488.
So it could take a while to get to your target.
I like your channel idea.
I was looking at 1H chart but I've started trading in 15M after I read your post.
I'm doing good thanks to you.
Take it easy on channels, they are good if you are patient enough
  • #111,509
  • Jan 14, 2009 11:35am Jan 14, 2009 11:35am
Quoting Infinity
Good job bro!.....

...but if I was checking the pips like you did, I would probably have 20,000 or so for the week already...
I don't count my pips that way either. Oh well, positive pips are positive pips.
Just digging in the trenches like everyone else!
  • #111,510
  • Jan 14, 2009 11:37am Jan 14, 2009 11:37am
Quoting eohater
I don't count my pips that way either. Oh well, positive pips are positive pips.
I got more pips than an Argentinian Admiral

All I have to do is repeat it...phew if only I could
  • #111,511
  • Jan 14, 2009 11:38am Jan 14, 2009 11:38am
Just got in from work. missed some good pip earlier I see..

My long last night from 4482 got stopped @ 4620 whilst at work, no access to any charts so no chance of a short.

good stuff tho. my accounts up 400% lol. just need a few more of those

  • #111,512
  • Jan 14, 2009 11:38am Jan 14, 2009 11:38am
Quoting eohater
I don't count my pips that way either. Oh well, positive pips are positive pips.
did you go short at 4625 this time around bro,or am I alone on this ride?
  • #111,513
  • Jan 14, 2009 11:39am Jan 14, 2009 11:39am
Quoting Si Tr4d3r
Just got in from work. missed some good pip earlier I see..

My long last night from 4482 got stopped @ 4620 whilst at work, no access to any charts so no chance of a short.

good stuff tho. my accounts up 400% lol. just need a few more of those

Good job on securing your profits. I told you last night once we broke that your long was good!
Just digging in the trenches like everyone else!
  • #111,514
  • Jan 14, 2009 11:40am Jan 14, 2009 11:40am
Quoting trader2160
did you go short at 4625 this time around bro,or am I alone on this ride?
I'm on this ride. Hell yeah! I bet my brother Infinity is on this ride as well!
Just digging in the trenches like everyone else!
  • #111,515
  • Jan 14, 2009 11:41am Jan 14, 2009 11:41am
Quoting allserene
I got more pips than an Argentinian Admiral

All I have to do is repeat it...phew if only I could
That's what we all want, be able to continuously pip positive and repeat.
Just digging in the trenches like everyone else!
  • #111,516
  • Jan 14, 2009 11:42am Jan 14, 2009 11:42am
Quoting eohater
I'm on this ride. Hell yeah! I bet my brother Infinity is on this ride as well!
Just closed half my position at 4577. Rest is at +2
Just digging in the trenches like everyone else!
  • #111,517
  • Jan 14, 2009 11:43am Jan 14, 2009 11:43am
Quoting trader2160
did you go short at 4625 this time around bro,or am I alone on this ride?
nope, i'm in with you
  • #111,518
  • Jan 14, 2009 11:44am Jan 14, 2009 11:44am
Quoting mirex
nope, i'm in with you
Cover your positions green guys. She's at the 15m 50ema level. It's decision time for her. Plus we have the 1h 10ema below us as well.
Just digging in the trenches like everyone else!
  • #111,519
  • Jan 14, 2009 11:50am Jan 14, 2009 11:50am
Quoting eohater
Good job on securing your profits. I told you last night once we broke that your long was good!
And I want to thank you for that.

I would have jumped out way before then, nearly took it at 4680 when I was moveing my s/l. but +137 is more than I expected so I'm chuffed..thats my longest ride..

I like your method. Just need to get the confidence up..

Keep up the good work, all us new boys need all the help we can get.

that goes for all the others who post on this forum as well

Cheers..
  • #111,520
  • Jan 14, 2009 11:51am Jan 14, 2009 11:51am
Quoting eohater
I'm on this ride. Hell yeah! I bet my brother Infinity is on this ride as well!
EO, Do you mind me asking how you predicted whether it was going up or down at that point? I have seen you talk about Price Action - what indicators do you use to predict this?

Thanks for your help
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