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Cable Update (GBPUSD)

  • #119,401
  • Feb 9, 2009 2:50pm Feb 9, 2009 2:50pm
Can anyone recommend a GOOD book on Price Action?
  • #119,402
  • Feb 9, 2009 2:53pm Feb 9, 2009 2:53pm
Quoting rt4x
Can anyone recommend a GOOD book on Price Action?

Trade What You See: How to Profit from Pattern Recognition - Larry Pesavento

Forex Probabilities & Patterns by Ed Ponsi,
Trading in the Zone by Mark Douglas
  • #119,403
  • Feb 9, 2009 2:55pm Feb 9, 2009 2:55pm
Thank You so much....
  • #119,404
  • Feb 9, 2009 3:38pm Feb 9, 2009 3:38pm
hi guys...
what happen tomarow?!is she broke 9500??
  • #119,405
  • Feb 9, 2009 3:49pm Feb 9, 2009 3:49pm
Quoting rt4x
Can anyone recommend a GOOD book on Price Action?
James16 Chart thread is free and right here, Daily candle chart is also a good one to look at.
  • #119,406
  • Feb 9, 2009 4:37pm Feb 9, 2009 4:37pm
Thank You Jigsaw...I will check that out....
  • #119,407
  • Feb 9, 2009 4:58pm Feb 9, 2009 4:58pm
Hi Guys

Im new here.

Does any have the latest COT British Pound?
  • #119,408
  • Feb 9, 2009 5:00pm Feb 9, 2009 5:00pm
Happy trading,
new system with entry point and targets according to the analysis.
Attached Images
  • #119,409
  • Feb 9, 2009 5:11pm Feb 9, 2009 5:11pm
Quoting Abuawad
Happy trading,
new system with entry point and targets according to the analysis.
Very good!
  • #119,410
  • Feb 9, 2009 5:19pm Feb 9, 2009 5:19pm
Quoting Abuawad
Happy trading,
new system with entry point and targets according to the analysis.
I like the new format. Thank you for all of your effort.

  • #119,411
  • Feb 9, 2009 5:23pm Feb 9, 2009 5:23pm
Hi all here is my view...

H1 chart
Attached Image (click to enlarge)
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  • #119,412
  • Feb 9, 2009 5:35pm Feb 9, 2009 5:35pm
Quoting Abuawad
Happy trading,
new system with entry point and targets according to the analysis.
Are these entry points valid at the close/ open of 4H candle....please help me to understand when we enter the trade....how far away from the closing/opening of 4H candle is this valid or invalid ??? !!!....By the way...thanks for your wonderful work that you share regularly here....
  • #119,413
  • Feb 9, 2009 5:45pm Feb 9, 2009 5:45pm
Quoting Abuawad
Happy trading,
new system with entry point and targets according to the analysis.
Super-Abuawad!
  • #119,414
  • Feb 9, 2009 5:53pm Feb 9, 2009 5:53pm
Quoting Magix
In order to properly qualify my previous statement, in order for the bear trend to continue, we need a breach and hold below 1.4869 on a 30m chart. We have support on the 1m/5m and are approaching support on 15m. A breach for the 30m will move to a new support to be broken of 1.4832.

Please do not follow this as gospel, on a fast market such as this, I am taking quick scalps from the minute supported on a bearish current market.

With this cycle being completed, we will move along to support range on 1h chart @ 1.4837, then to 4h.

As I believe this to still be a running bull in a short bearish trend, I would expect to see a bounce at the next support level.

I will most likely be away from market for the next 2 days, best of luck to all.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #119,415
  • Feb 9, 2009 5:57pm Feb 9, 2009 5:57pm
Quoting Abuawad
Happy trading,
new system with entry point and targets according to the analysis.
Nice job but your 3rd sell trade is almost same as your support level. Don't you think it should be below the support?

I thought so because price has 2 options around support/resistance either to break or bounce off. If a trade is now entered just 10 pips close to support it might be dangerous.
Trading Just Got Easier...
  • #119,416
  • Feb 9, 2009 6:10pm Feb 9, 2009 6:10pm
anyone going long off 4848 pivot ?
  • #119,417
  • Feb 9, 2009 6:22pm Feb 9, 2009 6:22pm
Long bias I am on this pair this week. Buy the dips. Maybe starting around the yellow line
Attached Image (click to enlarge)
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  • #119,418
  • Feb 9, 2009 6:28pm Feb 9, 2009 6:28pm
I am not going to be shorting anytime soon because there is a channel to break and at the same time a resistance. In Forex there is never any impossible which means it might break both barriers completely but I would wait until then.

I only trade in between support and resistance levels placed by previous history. I don't trade near support/resistance because 2 things can happen and it might be against you.

A chart for everyone to see. Any correction or comment is welcomed.
Attached Image (click to enlarge)
Click to Enlarge Name: base.jpg Size: 83 KB
Trading Just Got Easier...
  • #119,419
  • Feb 9, 2009 6:50pm Feb 9, 2009 6:50pm
Quoting Infinity
h1....
updated...
Attached Image
Patience + Discipline - Greed = Success
  • #119,420
  • Feb 9, 2009 7:23pm Feb 9, 2009 7:23pm
Quoting napster_630
my chart shows she going up...
why you said she going down?!!
Chart must of been upside down he he hee
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