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Cable Update (GBPUSD)

  • #114,441
  • Jan 23, 2009 4:00am Jan 23, 2009 4:00am
Quoting uut
shit . . .why do i always late
you're not too late my friend. here it comes. nice hair btw!
Thank You
  • #114,442
  • Jan 23, 2009 4:01am Jan 23, 2009 4:01am
Quoting Pipsqueak
Surprisingly very good retail sales number. This could be interesting. Got in long at 1.36 tp 1.38.
that's wrong totally as it falling
I already made 250 pips from morning and still in profit selling on demo
ROBOT FOREX
  • #114,443
  • Jan 23, 2009 4:01am Jan 23, 2009 4:01am
Quoting Komissar
Yeah! Whatever came down, should go up.
Then back down even more
  • #114,444
  • Jan 23, 2009 4:02am Jan 23, 2009 4:02am
Quoting Komissar
Yeah! Whatever came down, should go up.
not today
ROBOT FOREX
  • #114,445
  • Jan 23, 2009 4:02am Jan 23, 2009 4:02am
Quoting ottelo
is it Possible take to 2000 pts/pips at Monthly...????
we've had 2000pip weeks before
  • #114,446
  • Jan 23, 2009 4:03am Jan 23, 2009 4:03am
Quoting dyaon144
Is this the small third wave of the FIFTH wave of the 'ELLIOT WAVE Theory'?
Please share some opinions. Thanks
I actually believe on the 15m chart we are only in the 3RD wave of the 3RD wave...
Target 1.3508 for the end of this, then shud retrace to 1.3670 for good opportunity to sell. Final 5th wave target around 1.3320.
This is my take on ew 15m.

I now need a rest, staring at charts is not good.
  • #114,447
  • Jan 23, 2009 4:08am Jan 23, 2009 4:08am
Quoting SmoothTrader
While you thank others here, never lose sight of the fact that you are in total control of your own trading destiny. You are the one who assimilates knowledge, processes it and eventually puts it to use. You are the one that pulls the trigger with each and every trade. You are doing what 99.99% of the rest of the world can't or won't do. You are taking your own destiny in your hands and making the most of it without having some one (boss, government etc) telling you what to do.

Be proud.
Wise words from an experienced trader. Take heed.
The trend is not your friend, it's your master.
  • #114,448
  • Jan 23, 2009 4:11am Jan 23, 2009 4:11am
Quoting fry2010
I actually believe on the 15m chart we are only in the 3RD wave of the 3RD wave...
Target 1.3508 for the end of this, then shud retrace to 1.3670 for good opportunity to sell. Final 5th wave target around 1.3320.
This is my take on ew 15m.

I now need a rest, staring at charts is not good.
As I am new with 'Elliot Wave theory', can you explain some more why is this only the 3rd wave to you?(no offence) Some others said this is the fifth wave! If this is the 3 rd wave down to you, i suppose you expect this to go down further in the final fifth wave?
  • #114,449
  • Jan 23, 2009 4:13am Jan 23, 2009 4:13am
Is it hummer forming in 15m?
  • #114,450
  • Jan 23, 2009 4:15am Jan 23, 2009 4:15am
1.35 looks like a psychological support level and was a good place to take some profit. The retrace is coming soon and could offer some good shorting opportunities. Don't expect a big retrace though.
  • #114,451
  • Jan 23, 2009 4:18am Jan 23, 2009 4:18am
This fall is amazing. The pound last hit those lows in 1985...
Also other currencies are falling now against the dollar, so I wouldn't blame it all on the GDP.
  • #114,452
  • Jan 23, 2009 4:22am Jan 23, 2009 4:22am
I can see why they believe this is the fifth wave, but if so where is wave 1 and 2 of wave 5?
Also if this where the case then how come the fourth wave has entered the area of wave 1 and 2? This wud invalidate wave 4, therefore I believe it is wave 3 of 3.
Retrace to 1.3670 expected now for wave 4 , imo.

edit: I did orignally say wave 5 myself but that was looking at 5min chart.
  • #114,453
  • Jan 23, 2009 4:30am Jan 23, 2009 4:30am
Quoting fry2010
I can see why they believe this is the fifth wave, but if so where is wave 1 and 2 of wave 5?
Also if this where the case then how come the fourth wave has entered the area of wave 1 and 2? This wud invalidate wave 4, therefore I believe it is wave 3 of 3.
Retrace to 1.3670 expected now for wave 4 , imo.

edit: I did orignally say wave 5 myself but that was looking at 5min chart.
Could you please specify start/finish point for each wave?
  • #114,454
  • Jan 23, 2009 4:31am Jan 23, 2009 4:31am
Quoting Komissar
Is it hummer forming in 15m?
Yes, it was a hummer!
  • #114,455
  • Edited 5:04am Jan 23, 2009 4:32am | Edited 5:04am
Quoting newbe
Navin, how long ago was this chart?

30 minutes ago i think
trading is about picking a direction and sticking to it...this trade i placed is currently up 900+ pips and i used absolutely no indicator, not even the fib tool...and no account for news...it seems everything and nothing work most of the time...accept trading displine

i think whatever happens is written in larger time frames and is just a question of sticking to yur belief no matter what...just my view ( probably a fluke..lol)

its all about support and resistance
  • #114,456
  • Jan 23, 2009 4:36am Jan 23, 2009 4:36am
Quoting Komissar
Is it hummer forming in 15m?
Whats hummer, please?
  • #114,457
  • Jan 23, 2009 4:37am Jan 23, 2009 4:37am
Nice waves to profit from all GBP pairs. Just lovely. Remmeber its freaky friday so just take solid setups and if theres none - better let it go.
  • #114,458
  • Jan 23, 2009 4:43am Jan 23, 2009 4:43am
She will north Right now?
Attached Image (click to enlarge)
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  • #114,459
  • Jan 23, 2009 4:44am Jan 23, 2009 4:44am
Quoting Heilpraktike
Whats hummer, please?
"The Bullish Hammer Pattern is a significant candlestick that occurs at the bottom of a trend or during a downtrend and it is called a hammer since it is hammering out a bottom. The Bullish Hammer Pattern is a single candlestick pattern and it has a strong similarity to the Bullish Dragonfly Doji Pattern. In the case of Bullish Dragonfly Doji Pattern, the opening and closing prices are identical whereas the Bullish Hammer Pattern has a small real body at the upper end of the trading range."
  • #114,460
  • Jan 23, 2009 4:46am Jan 23, 2009 4:46am
Wave 1 start = 1.4022 end = 1.3832,
Wave 2 start = 1.3832 end = 1.3976,

Wave 3:
Wave 1 of 3 start = 1.3976 end = 1.3688,
Wave 2 of 3 start = 1.3688 end = 1.3913,
Wave 3 of 3 start = 1.3913 end = 1.3500,

Wave 4 projected start = 1.3500 end = 1.3660-70,
Wave 5 projected start = 1.3660 end = 1.3344,

End of wave 3.

Start of Wave 5:
Projected start = 1.3344 end = 1.3566.

This is not trade signals so do not trade them. Only trade descisions that u have made.
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