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Cable Update (GBPUSD)

  • #114,261
  • Jan 22, 2009 6:02pm Jan 22, 2009 6:02pm
Looking Bullish?

Quoting Bones
Ill be closing out if we close here and look for buying ops
Attached Image (click to enlarge)
Click to Enlarge Name: 41 piecing pattern cable.png Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #114,262
  • Jan 22, 2009 6:05pm Jan 22, 2009 6:05pm
hi all
Vedanta - The End Of Knowledge. ~ J. Krishnamurti ~
  • #114,263
  • Jan 22, 2009 6:38pm Jan 22, 2009 6:38pm
Quoting Bones
Looking Bullish?
Im bullish on it overall but im reluctant to take a position before 9:30 GMT tomorrow when GDP comes out im looking at a possible channel at the moment
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  • #114,264
  • Jan 22, 2009 6:39pm Jan 22, 2009 6:39pm
Quoting Aloen
hi all
Hello!
  • #114,265
  • Jan 22, 2009 6:56pm Jan 22, 2009 6:56pm
Quoting Bones
Looking Bullish?
agree...

I'll wait for 1.3765 to buy...
  • #114,266
  • Jan 22, 2009 7:13pm Jan 22, 2009 7:13pm
Quoting hellkkas
agree...

I'll wait for 1.3765 to buy...

maybe 4-5 next Hour.

time to sleep now..

i hate this session, too many false signal.
  • #114,267
  • Jan 22, 2009 7:18pm Jan 22, 2009 7:18pm
Quoting hellkkas
agree...

I'll wait for 1.3765 to buy...
Yess... I am also looking at around 1.3750-1.3760 to buy...

Currently looks like we will be able to...
  • #114,268
  • Jan 22, 2009 8:30pm Jan 22, 2009 8:30pm
Quoting analizer
Congratulations, a good thread ... I also trade this pair usually on 4h template, and Im learning for you.
As this thread is so long, may you please answer some doubts i have?
Where can I find THE TRADE SYSTEM you use in this thread?... Also whats the usual time frame you trade most?.... And at whats your trade time (EST) you trade?.
Keep your good.
Regards

I cannot take credit for this thread. I do enjoy posting on it and I think we have some great traders here. I'm glad you've found my posts helpful and informative. I try and contribute useful information. Doubts you have, I don't understand. No system is perfect, no trader is 100%, but it doesn't take 100% to be successful, it's about what you preserve in your account at the end of battle that matters most (Money Management). As to the system in which I use, your more than welcome to visit my thread, have a read, post any questions you might have. My system is not total disclosed on my thread. I plan to add more once time permits. I have nothing to sell, don't want any contributions, I'm just trying to share how I see her. She's a beast, but she's fun to ride as long as your on the right side of her. Session that I trade would be all of them. I don't all the time, but they each have their movements. My favorite session to trade however is the US Session. I like to see price from 7:30am NY EST til the end of the US Session.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #114,269
  • Jan 22, 2009 8:46pm Jan 22, 2009 8:46pm
Quoting eohater
Ok, I didn't think the thread would go dead. Here's one more. Watching the current 1h candle. I'd be looking for her to close below 3878 and move my SL on my short from the 15m pin bar accordingly (using the 5/10/21 for my SL levels). Remember though, volume is low and spikes are abound for the next 2h's.
There's a trader in the 'pattern trading' thread. His name is 'Big Weir'. Big Weir has a candle he uses on the daily to spot a trend reversal. For example, in a downtrend, when a new daily candle is completed and it has a lower low and a higher close than the previous day he calls that a key reversal day. I suppose that might include a pin bar, but whatever you call it, it seems very accurate for calling reversals on the daily charts. Often times it might end up being the beginning of a retracement. Regardless, it provides some good pips for a day or two, often more.

Wednesday's candle was such a candle. Obviously it didn't call a reversal correctly, but it normally does. I guess nothing's 100%, is it?
Hi, my name is Barry and you can keep your doctor...
  • #114,270
  • Jan 22, 2009 9:18pm Jan 22, 2009 9:18pm
Quoting PipLand
Im bullish on it overall but im reluctant to take a position before 9:30 GMT tomorrow when GDP comes out im looking at a possible channel at the moment
wow, thats a messy chart.......imagine how many buy and sell signals that produces.
  • #114,271
  • Edited 10:35pm Jan 22, 2009 10:20pm | Edited 10:35pm
Diamond pattern on 1h chart.
  • #114,272
  • Jan 22, 2009 10:57pm Jan 22, 2009 10:57pm
Ya.... were in a wedgie.... just got the daylights scared out of me... took long at 43.. and then BAM.... 20+ pip downmove in a millisecond... ended up with pips.. but wasn't expecting that...

Didn't even have time to set appropriate s/l and tp.
DireXiv Make it happen, no one else is going to do it for you...
  • #114,273
  • Jan 22, 2009 11:04pm Jan 22, 2009 11:04pm
Same, took long at 25 closed it at 62

Looking to reenter. target 13850..... we"ll see
  • #114,274
  • Jan 22, 2009 11:09pm Jan 22, 2009 11:09pm
GBPJPY broke its trend channel/wedge a while ago, has GU broke that channel posted earlier?
Edit: the one im lookin at it has yet to break.
Also I can see the wedge now, interesting.
  • #114,275
  • Jan 22, 2009 11:16pm Jan 22, 2009 11:16pm
anyone long at 13771
  • #114,276
  • Jan 22, 2009 11:17pm Jan 22, 2009 11:17pm
i had it peak out of the lower t/l... but it was only two points... so guess the third point is there now... so.. no.. it hasn't been broken imho

Quoting fry2010
GBPJPY broke its trend channel a while ago, has GU broke that channel posted earlier?
Edit: the one im lookin at it has yet to break.
DireXiv Make it happen, no one else is going to do it for you...
  • #114,277
  • Jan 22, 2009 11:18pm Jan 22, 2009 11:18pm
Moved to far for me to enter now... need another setup...

Quoting Jnita
anyone long at 13771
DireXiv Make it happen, no one else is going to do it for you...
  • #114,278
  • Jan 22, 2009 11:20pm Jan 22, 2009 11:20pm
Quoting Jnita
anyone long at 13771
Waiting for a little correction after 75, then yes around 55, 63

Tp at 618 of last move over 15 min TF = 1.3887 then 05/15/27/55/78/09

---------------

edit in at 66
  • #114,279
  • Jan 22, 2009 11:22pm Jan 22, 2009 11:22pm
its gna break one way or the other, when it does probably be a large move.
  • #114,280
  • Jan 22, 2009 11:25pm Jan 22, 2009 11:25pm
Quoting DireXiv
Moved to far for me to enter now... need another setup...
stalled, undecided to get out or hold for 10min more
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