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Cable Update (GBPUSD)

  • #117,541
  • Feb 3, 2009 4:35pm Feb 3, 2009 4:35pm
Quoting eohater
Your showing why I have a challenge with daily and 4h charts. We don't match across the board, so the question becomes, which is right and which one do you trade off of.
Why not get some more feeds ? I have like 5 . . .
  • #117,542
  • Feb 3, 2009 4:37pm Feb 3, 2009 4:37pm
Quoting JammerJams
We have a mix of information here..

Our short-term trend is Bullish..but we have rate cuts coming Thursday.

This will bring opportunity for bearish movements and testing of 1.40 level if rate cut is 0.5 too 1.0 ...since this would indicate UK is in serious trouble.

So..what to do..we have two days until the report comes out..and ride this bad boy upward and then take her back down. Question is..when will it commence upward and when will it come crashing down...
Im going to ride this train as if it were a clean slate.
g/u does have a long-term...
You dont think the pending rate cut has been factored in already, hence the setup for start of downward move tonight?
  • #117,543
  • Feb 3, 2009 4:37pm Feb 3, 2009 4:37pm
Quoting Jigsaw
Why not get some more feeds ? I have like 5 . . .

This is a good idea, I dunno if my brain could cope though!!
  • #117,544
  • Feb 3, 2009 4:38pm Feb 3, 2009 4:38pm
Quoting Jigsaw
Why not get some more feeds ? I have like 5 . . .
I have 3 and that's enough for me. I don't have a challenge with my feeds, just how people's daily and 4h candles don't all close at the same time. Now, on the other side of the story, there are multiple candle formations that support the same movement.
Just digging in the trenches like everyone else!
  • #117,545
  • Feb 3, 2009 4:46pm Feb 3, 2009 4:46pm
Glad to see the bears come to live here going into my new daily candle! This could be a fun ride down!!
Just digging in the trenches like everyone else!
  • #117,546
  • Edited 4:49pm Feb 3, 2009 4:47pm | Edited 4:49pm
Quoting eohater
I have 3 and that's enough for me. I don't have a challenge with my feeds, just how people's daily and 4h candles don't all close at the same time. Now, on the other side of the story, there are multiple candle formations that support the same movement.
I dont get you eo . . You have three feeds but the four hour candles close at the same time ?

My daily's and more importantly (imho) Four hours close at different times, It's actually amazing the difference an hour or two can make on the bar formation. Good to see price chopped up differently. And plus some of my demo feeds have commodities and stuff for messing about with on slow days

I still wish there would be a "standard" for opens and closes though , , Probably make the 4HR candles more effective with more people watching them.

Hope all you guys in the thread are cleaning up, I have not had a single trade on cable all week
  • #117,547
  • Feb 3, 2009 4:50pm Feb 3, 2009 4:50pm
Quoting Jigsaw
I dont get you eo . . You have three feeds but the four hour candles close at the same time ?

MY daily's and more importantly (imho) Four hours close at different times, It's actually amazing the difference an hour or two can make on the bar formation. Good to see price chopped up differently. And plus some of my demo feeds have commodities and stuff for messing about with on slow days

I still wish there would be a "standard" for opens and closes though , , Probably make the 4HR candles more effective with more people watching them....
I do have three feeds, but I don't have charts on all of them. My primary broker's feed has charts, but they are not reliable. Gaps all the time (Their new to offer the charts in the trading platform), one of my other feeds is through MT4 and I don't care for that software so I don't even look at it. I'm use to my primary chart feed. Just my personal preference I guess.
Just digging in the trenches like everyone else!
  • #117,548
  • Feb 3, 2009 4:55pm Feb 3, 2009 4:55pm
Quoting eohater
Glad to see the bears come to live here going into my new daily candle! This could be a fun ride down!!
Certainly hope so. Your chart points down! deep down! That would be sweet!

Action is well choppy at the moment though, im seeing some big spikes on aud/usd to the downside, i wonder if the price will follow through
  • #117,549
  • Feb 3, 2009 4:59pm Feb 3, 2009 4:59pm
Quoting PipLand
Certainly hope so. Your chart points down! deep down! That would be sweet!

Action is well choppy at the moment though, im seeing some big spikes on aud/usd to the downside, i wonder if the price will follow through
I'm wishing I had put 2 more on this. I only put 6 on her, wishing I had 8, maybe 10. That would make for an extra sweet ride!!!

But, let's not count our chickens before they hatch. We have a shitload of traffic that needs to be cleared to get down. ATM, I could be closed out for +2, scratching my head saying WTF.
Just digging in the trenches like everyone else!
  • #117,550
  • Feb 3, 2009 4:59pm Feb 3, 2009 4:59pm
Quoting joemiami
You dont think the pending rate cut has been factored in already, hence the setup for start of downward move tonight?

Yes...the market always factors in forecasts...but it can either do nothing..or big down turn if cut is 1.0.

I would like to see it break new ground....instead of rising and falling again.

I am hearing word that UK people are moving or traveling to Spain to find work.
  • #117,551
  • Feb 3, 2009 5:00pm Feb 3, 2009 5:00pm
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  • #117,552
  • Feb 3, 2009 5:01pm Feb 3, 2009 5:01pm
Quoting eohater
ATM, I could be closed out for +2, scratching my head saying WTF.
That has just happened to me, got closed out on a short for +2, lol.
"The trend is your friend, until the end."
  • #117,553
  • Feb 3, 2009 5:02pm Feb 3, 2009 5:02pm
Quoting JammerJams
Yes...the market always factors in forecasts...but it can either do nothing..or big down turn if cut is 1.0.

I would like to see it break new ground....instead of rising and falling again.

I am hearing word that UK people are moving or traveling to Spain to find work.
About the same here in the States, people moving to India for jobs.
Just digging in the trenches like everyone else!
  • #117,554
  • Feb 3, 2009 5:03pm Feb 3, 2009 5:03pm
Quoting ForexRookie
That has just happened to me, got closed out on a short for +2, lol.
Sorry to hear bro! You'll find a new ride.
Just digging in the trenches like everyone else!
  • #117,555
  • Feb 3, 2009 5:05pm Feb 3, 2009 5:05pm
Quoting eohater
I'm wishing I had put 2 more on this. I only put 6 on her, wishing I had 8, maybe 10. That would make for an extra sweet ride!!!

But, let's not count our chickens before they hatch. We have a shitload of traffic that needs to be cleared to get down. ATM, I could be closed out for +2, scratching my head saying WTF.
EO, Your such a badass trader (I mean that in a good way), honestly nothing piqued my interest on Cable for most of the week. And you probably have been riding it triumphantly like Hannibal crossing the alps or something similar. I was hoping for a PB close earlier on the 4HR but it didn't happen.

Who did you learn off of or is was it just a matter of experience for you ?
  • #117,556
  • Feb 3, 2009 5:06pm Feb 3, 2009 5:06pm
Quoting eohater
people moving to India for jobs.
The next superpower imho . . .
  • #117,557
  • Feb 3, 2009 5:06pm Feb 3, 2009 5:06pm
Off for family time! Hope everyone has their positions covered. I'll be back to check on my position in a couple of hours. Once we get under the 15m 50ema, I'll be looking to add to my position on pullbacks. I have TP on half of my position set at 4375 atm.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #117,558
  • Feb 3, 2009 5:08pm Feb 3, 2009 5:08pm
Quoting eohater
I'm wishing I had put 2 more on this. I only put 6 on her, wishing I had 8, maybe 10. That would make for an extra sweet ride!!!

But, let's not count our chickens before they hatch. We have a shitload of traffic that needs to be cleared to get down. ATM, I could be closed out for +2, scratching my head saying WTF.

Hindsight eh!! lol

Yeah theres tons of traffic for sure! Should be interesting, i'll be dissapointed if we dont get down to 4300 but not surprised
  • #117,559
  • Feb 3, 2009 5:09pm Feb 3, 2009 5:09pm
Quoting eohater
Off for family time! Hope everyone has their positions covered. I'll be back to check on my position in a couple of hours. Once we get under the 15m 50ema, I'll be looking to add to my position on pullbacks. I have TP on half of my position set at 4375 atm.

Trade well!
EO
Enjoy your family time and catch you later!
  • #117,560
  • Feb 3, 2009 5:09pm Feb 3, 2009 5:09pm
Quoting Jigsaw
EO, Your such a badass trader (I mean that in a good way), honestly nothing piqued my interest on Cable for most of the week. And you probably have been riding it triumphantly like Hannibal crossing the alps or something similar. I was hoping for a PB close earlier on the 4HR but it didn't happen.

Who did you learn off of or is was it just a matter of experience for you ?
Thanks bro for the compliment! I didn't ride her for all she was worth today bro! I didn't ride the massive upswing.

Experience is how I learned. I wish I had someone teach me, but not the case. Just from experience of how she moves. Prior to being an intraday trader, I only traded off of 4h candles. I will give MAJOR PROPS to my brother Infinity who helped me with my transition to intraday trading.
Just digging in the trenches like everyone else!
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