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Cable Update (GBPUSD)

  • #115,601
  • Jan 28, 2009 1:53am Jan 28, 2009 1:53am
Quoting dashboard
fall out the sky?? what do u mean?
i prefer it go north to 1.4xx at least before free fall
You mean 1.44xx? It might still go there but if this trendline which has been proping up cable since the begining of the week gives way then we could see further down side sooner than we think
  • #115,602
  • Jan 28, 2009 1:54am Jan 28, 2009 1:54am
Quoting PipLand
You mean 1.44xx? It might still go there but if this trendline which has been proping up cable since the begining of the week gives way then we could see further down side sooner than we think
also the bottom of the old wedge is providing resistance at the moment, as long as that holds then we wont be seeing 1.44xx
  • #115,603
  • Jan 28, 2009 2:23am Jan 28, 2009 2:23am
Quoting allserene
E/U

yes I reckon it was well oversold under 1.30

who knows about the fundies - rest of the world always lags the US so Europe isn't out of the woods


Bit dispirited really because that long run we had on cable from 2005 was great - even if you screw up your entry points you just sit still for a week and the market catches up

We are supposed to be following nice long trends and not an insane twitchy roller coaster which is what euro and cable are right now

In the text book it says that forex is ideal for trading as it proceeds in long...
Traders must be very bored then. Happy am not a trader of that time.
  • #115,604
  • Jan 28, 2009 2:29am Jan 28, 2009 2:29am
progress report....

we on track for 1.44
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  • #115,605
  • Jan 28, 2009 2:31am Jan 28, 2009 2:31am
What I'm waiting for:

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  • #115,606
  • Jan 28, 2009 2:34am Jan 28, 2009 2:34am
I really can't understand the PA right now, I got burned on first one, and luckily decided to stay on sidelines right after the second one.
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  • #115,607
  • Jan 28, 2009 3:00am Jan 28, 2009 3:00am
Quoting nAVIN2007
progress report....

we on track for 1.44
BAM ! Your the man Nav

Strong original entry , strong add on . . . I'll probably be unloading my long at about 1.4350 upwards, depending on price action of course, . . .
  • #115,608
  • Jan 28, 2009 3:03am Jan 28, 2009 3:03am
Quoting nAVIN2007
progress report....

we on track for 1.44
absolutly agree to 1.4412
  • #115,609
  • Edited 3:17am Jan 28, 2009 3:08am | Edited 3:17am
Quoting laromanell
I really can't understand the PA
Solution : Longer timeframe needed

How did you get burned on the first one ? On the second one you were trading back into support. It's a clear shot (in my opinion) up to 1.4350, look at the Daily/4Hour.

Either way, just my 2cents

Be carefull, and trade well my friend
  • #115,610
  • Jan 28, 2009 3:08am Jan 28, 2009 3:08am
Quoting Jigsaw
BAM ! Your the man Nav

Strong original entry , strong add on . . . I'll probably be unloading my long at about 1.4350 upwards, depending on price action of course, . . .

thanks bro! ....its all coming together, its amazing when i was about to move i took a slight break and in that week it allowed me time to fit the pieces together, now i got a idea of what the hell im doing...long may it continue and we build on it bro....

the battle has began and we starting to win the fight
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  • #115,611
  • Jan 28, 2009 3:16am Jan 28, 2009 3:16am
Quoting Jigsaw
Solution : Longer timeframe needed

How did you get burned on the first one ? On the second one you were trading back into support. It's a clear shot (in my opinion) up to 1.4350, look at the Daily/4Hour.

Either way, just my 2cents

Be carefull, trade well and trade well my friend
100% absolutely whats needed...good advise as always
  • #115,612
  • Jan 28, 2009 3:21am Jan 28, 2009 3:21am
Quoting Jigsaw
Solution : Longer timeframe needed

How did you get burned on the first one ? On the second one you were trading back into support. It's a clear shot (in my opinion) up to 1.4350, look at the Daily/4Hour.

Either way, just my 2cents

Be carefull, and trade well my friend
why 1.435 ?? not the 1.44 ??
tell me why
  • #115,613
  • Jan 28, 2009 3:27am Jan 28, 2009 3:27am
Quoting nAVIN2007
the battle has began and we starting to win the fight
Yes we are. . . Yes we are . . .

I actually had a very similar experience to you over the Christmas period. And the results are paying off for me . (As they are for you I see )

Alright i'm outta here, trade well today Nav
  • #115,614
  • Edited 3:45am Jan 28, 2009 3:28am | Edited 3:45am
I am scary go short at the HH, cause of no strong resistance untill 1.4393-1.4430 ! I wait that level to go short. Currently I choose scalp short at LH after bounced from HL and long at HL after bounced from LH ! Excecution depend on PA vs M15/ema10. Sofar 4 trades +8 pips each !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #115,615
  • Jan 28, 2009 3:29am Jan 28, 2009 3:29am
Quoting Jigsaw
Solution : Longer timeframe needed

How did you get burned on the first one ? On the second one you were trading back into support. It's a clear shot (in my opinion) up to 1.4350, look at the Daily/4Hour.

Either way, just my 2cents

Be carefull, and trade well my friend
I went long as soon as the hammer closed, put a sl at 1.4226, and then got awfully burned by it, needed to put it 10 pips lower. on the second one when I saw inverted hammer I was tempted to short but fortunately didn't. Anyway, went long soon after I saw how next 10 min candle closed.
As to the longer time frames, I completely agree, gotta pay more attention to them.
  • #115,616
  • Jan 28, 2009 3:35am Jan 28, 2009 3:35am
Quoting dashboard
why 1.435 ?? not the 1.44 ??
tell me why
the actually resistance isnt exact...the area is to be considered a zone ( theres always noise) so around that area things can happen....
  • #115,617
  • Jan 28, 2009 3:36am Jan 28, 2009 3:36am
Quoting Jigsaw
Yes we are. . . Yes we are . . .

I actually had a very similar experience to you over the Christmas period. And the results are paying off for me . (As they are for you I see )

Alright i'm outta here, trade well today Nav
u too bro
  • #115,618
  • Jan 28, 2009 3:40am Jan 28, 2009 3:40am
did anyone spotted the bearish divergence on the 15 mins chart? or only me?
thx
Money management is good for your health...
  • #115,619
  • Jan 28, 2009 3:43am Jan 28, 2009 3:43am
Quoting dashboard
why 1.435 ?? not the 1.44 ??
tell me why
Wow strong ordering me around lol ?

Here you go, 1.435 for me is the point of first resistance, ie I will be looking out for prices reaction around this level. Resistance increases as we go northwards towards the 45. (Just my way of doing things, Im not saying im a forex guru or anything)

1.44 is a good level . . 1.45 an even better level. Whatever your preference is, it could blast up through 1.435 , 1.44 . . Who knows ? I certainly Don't
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  • #115,620
  • Jan 28, 2009 3:44am Jan 28, 2009 3:44am
Quoting nAVIN2007
the actually resistance isnt exact...the area is to be considered a zone ( theres always noise) so around that area things can happen....
X2 This reason also, it price isn't going to hit it to the pip and turn around (in most cases) , the zone starts at 1.435.
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