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Cable Update (GBPUSD)

  • #114,461
  • Jan 23, 2009 5:06am Jan 23, 2009 5:06am
Quoting belekas
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.
Yeah, Friday sure is freaky. Though today there's no significant US data at 13:30. So maybe this Friday will be better?
  • #114,462
  • Jan 23, 2009 5:20am Jan 23, 2009 5:20am
Quoting fry2010
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.
if it so...How Bout Long for now while catch 100 pips..??
The Ottelo way's find the mutual system to wins
  • #114,463
  • Jan 23, 2009 5:29am Jan 23, 2009 5:29am
Well it is against the trend, but it gives a good target to enter another sell. If u wanted to make sure u got in on a sell then u cud take it lower. Maybe 1.3622. Unless of course u no of somthing that wud be good reason to buy. Sometimes it better to not trade and wait.
  • #114,464
  • Jan 23, 2009 5:30am Jan 23, 2009 5:30am
Quoting Yohay
Yeah, Friday sure is freaky. Though today there's no significant US data at 13:30. So maybe this Friday will be better?
Just find significant lines to describe the current market conditions (patterns) and trade it by the book. Simple.
  • #114,465
  • Edited 1:49pm Jan 23, 2009 5:55am | Edited 1:49pm
This is the third bullish candle today on the H1charts and and the first 2 touched the 5sma and both bounced off it and went south. We may get there on this candle or maybe not but is worth shorting if we do. imo
  • #114,466
  • Jan 23, 2009 5:57am Jan 23, 2009 5:57am
Quoting fry2010
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.

Where do you get information on this Wave concept that you are talking about. I'm new and trying to learn.
  • #114,467
  • Jan 23, 2009 6:00am Jan 23, 2009 6:00am
Quoting newbe
Where do you get information on this Wave concept that you are talking about. I'm new and trying to learn.
You can start here.
http://en.wikipedia.org/wiki/Elliott_wave_principle
  • #114,468
  • Jan 23, 2009 6:06am Jan 23, 2009 6:06am
Theres plenty of information on the net regarding ew. Best thing to do is start with the basics and apply it to live charts as you go.
Heres a thread here that analyse ew:
http://www.forexfactory.com/showthread.php?t=97335
  • #114,469
  • Jan 23, 2009 6:22am Jan 23, 2009 6:22am
Does anybody know good site (free) with real time market quotes? I am using Yahoo, but it's only good for Dow, European markets coming with delay.
  • #114,470
  • Jan 23, 2009 6:28am Jan 23, 2009 6:28am
Have u not got mt4?
  • #114,471
  • Jan 23, 2009 6:30am Jan 23, 2009 6:30am
Quoting fry2010
Have u not got mt4?
No, I am using VT Trader from CMS.
  • #114,472
  • Jan 23, 2009 6:31am Jan 23, 2009 6:31am
does that not give u quotes? am i not understanding u correctly?
  • #114,473
  • Jan 23, 2009 6:38am Jan 23, 2009 6:38am
Hey guys I hope youve been making nice pips, i'm still staying out of it for now still.

I know some of you are considering going long. For you guys I would point out the daily and 4 hr charts. Also consider this could be a bear flag in the making.

Good luck to anyone in a trade
  • #114,474
  • Jan 23, 2009 6:40am Jan 23, 2009 6:40am
Quoting fry2010
does that not give u quotes? am i not understanding u correctly?
No, I can't find quotes in VT Trader. Actually, iam going to call them to find out if this opion exists.
What I want is to see live quotes for Dow, FTSE, etc. On Yahoo only Dow is alive, European stuff is delayed for 15 min, which is not good.
Does MeteTrader has this ability? I've heard a lot about it. Is it any good? What US broker(s) are MT compatible?
  • #114,475
  • Jan 23, 2009 6:42am Jan 23, 2009 6:42am
I just went short on EURGBP, I believe pound has been pushed down way too much.

Short at 0.9445, tp 0.9135, sl on a close above recent highs (0.9476).

I would like to see the pair USDGBP recover over the 23years low at 1,3620.

That would confirm a short term reversal, how do you see it?
Any chance for that to happen?
  • #114,476
  • Jan 23, 2009 6:48am Jan 23, 2009 6:48am
Quoting Komissar
No, I can't find quotes in VT Trader. Actually, iam going to call them to find out if this opion exists.
What I want is to see live quotes for Dow, FTSE, etc. On Yahoo only Dow is alive, European stuff is delayed for 15 min, which is not good.
Does MeteTrader has this ability? I've heard a lot about it. Is it any good? What US broker(s) are MT compatible?

ODL and FXPRO (MT4) have major indexes gold, oil etc.
  • #114,477
  • Jan 23, 2009 6:51am Jan 23, 2009 6:51am
Quoting fammira
I just went short on EURGBP, I believe pound has been pushed down way too much.

Short at 0.9445, tp 0.9135, sl on a close above recent highs (0.9476).

I would like to see the pair USDGBP recover over the 23years low at 1,3620.

That would confirm a short term reversal, how do you see it?
Any chance for that to happen?
Be careful on this. EURGBP is stalling around a crucial fib point at 0.9431, which has exerted some influence in recent trading on this pair. On your side, is the fact that my 4H candles have not closed above this point by more than a couple of pips. My bias for this pair is short, but I am waiting for clearer confirmation to signal an entry point. Picked up 30 pips earlier on short at 0.9460, just below yesterday's high, but with low leverage, so only tiny gains.
  • #114,478
  • Jan 23, 2009 7:04am Jan 23, 2009 7:04am
Quoting gammase1
Be careful on this. EURGBP is stalling around a crucial fib point at 0.9431, which has exerted some influence in recent trading on this pair. On your side, is the fact that my 4H candles have not closed above this point by more than a couple of pips. My bias for this pair is short, but I am waiting for clearer confirmation to signal an entry point. Picked up 30 pips earlier on short at 0.9460, just below yesterday's high, but with low leverage, so only tiny gains.

thank you, we are at ,9407 right now

do you see 9431 as an important level?
would you see a short term reversal on a close under that level?

looks like pound is bouncing back strong indeed
  • #114,479
  • Jan 23, 2009 7:04am Jan 23, 2009 7:04am
Oops I made a mistake on my wave post earlier, I said wave 5 instead of wave 4 for the last entry. Sry for any confusion.
Komissar, mt4 in my opinion is an excellent trading terminal. If you want the dow, futures and commodities then you will have to choose a broker that does these, and has mt4, although there are probably other good trading terminals out there. But yes U can get it on mt4.
  • #114,480
  • Jan 23, 2009 7:07am Jan 23, 2009 7:07am
Quoting fry2010
Oops I made a mistake on my wave post earlier, I said wave 5 instead of wave 4 for the last entry. Sry for any confusion.
Komissar, mt4 in my opinion is an excellent trading terminal. If you want the dow, futures and commodities then you will have to choose a broker that does these, and has mt4, although there are probably other good trading terminals out there. But yes U can get it on mt4.
Thanks.
For EW I figured out that misplacement.
I am sitting and waiting for another good short.
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