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Cable Update (GBPUSD)

  • #120,761
  • Feb 16, 2009 10:40pm Feb 16, 2009 10:40pm
Quoting JammerJams
what we should focus on are the specifics..

As Jack pointed out..the pivot level 4190
the lower tough resistence 406x level
the upper range at 44xx level

all other movements are then based from resistences or supports and time periods...
My pivot is lower
  • #120,762
  • Feb 16, 2009 10:40pm Feb 16, 2009 10:40pm
The forex world as I see it. 21 EMA capping price upside for now.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.gif Size: 44 KB
  • #120,763
  • Feb 16, 2009 10:43pm Feb 16, 2009 10:43pm
Quoting sofia101
My pivot is lower
1.4190 seems pretty legit to me...
  • #120,764
  • Feb 16, 2009 10:44pm Feb 16, 2009 10:44pm
Quoting sofia101
My pivot is lower
Dear Sofia...
are you stating that we are going to drop...to below...the pivot point first...>
  • #120,765
  • Feb 16, 2009 10:45pm Feb 16, 2009 10:45pm
Quoting JammerJams
You are correct Sofia..

i do not like the idea that we are making assumptions that the g/u will drop ......
Lets talks about possibilities/probalities, up and down.
Then look at price action at specific level.
  • #120,766
  • Feb 16, 2009 10:46pm Feb 16, 2009 10:46pm
Quoting jack.canadia
1.4190 seems pretty legit to me...
you have to know depends where you are and who is your broker they are different
  • #120,767
  • Feb 16, 2009 10:47pm Feb 16, 2009 10:47pm
Quoting JammerJams
Dear Sofia...
are you stating that we are going to drop...to below...the pivot point first...>
Her 'pivot' is just a support level, which I am sure most of us are already well aware of, that she hopes price will bounce, and I hope so too because given a reason I will long there, but also short a break.

The pivots on my chart are obtained using the H, L, C formula from previous days data from 00:00 GMT to 00:00 GMT.
  • #120,768
  • Feb 16, 2009 10:48pm Feb 16, 2009 10:48pm
http://www.stud.tu-ilmenau.de/%7Ehak...s/retarded.jpg
Going to make it big by age 21.
  • #120,769
  • Feb 16, 2009 10:49pm Feb 16, 2009 10:49pm
Quoting jack.canadia
Her 'pivot' is just a support level, which I am sure most of us are already well aware of, that she hopes price will bounce, and I hope so too because given a reason I will long there, but also short a break.

The pivots on my chart are obtained using the H, L, C formula from previous days data from 00:00 GMT to 00:00 GMT.
given that info..then you have already entered a long from that level

its just that this is what I read in your threads...

am I mistaken on your approach...?...just trying to understand your thinking at this time..
  • #120,770
  • Feb 16, 2009 10:50pm Feb 16, 2009 10:50pm
LOL !!
  • #120,771
  • Feb 16, 2009 10:51pm Feb 16, 2009 10:51pm
Quoting JammerJams
given that info..then you have already entered a long from that level
Back on feb 2 yes, and it was a very profitable trade for me.
  • #120,772
  • Feb 16, 2009 10:51pm Feb 16, 2009 10:51pm
Quoting dstryr
http://www.stud.tu-ilmenau.de/%7Ehak...s/retarded.jpg
Cool
  • #120,773
  • Feb 16, 2009 10:53pm Feb 16, 2009 10:53pm
Quoting sofia101
Cool
Back to serious part.

Still holding my long from 85...targeting 4250 and will take half and set stop to break even.
Going to make it big by age 21.
  • #120,774
  • Feb 16, 2009 10:53pm Feb 16, 2009 10:53pm
Quoting JammerJams
given that info..then you have already entered a long from that level

its just that this is what I read in your threads...

am I mistaken on your approach...?...just trying to understand your thinking at this time..
I trade between pivot levels yes. Last week, I made just above 400 pips using this approach. I will post a chart to show you.
  • #120,775
  • Feb 16, 2009 10:54pm Feb 16, 2009 10:54pm
Not an argument Sofia..
I just wanted to get clarity on Jacks usage of the pivot...and entry
appreciated..
  • #120,776
  • Edited 11:07pm Feb 16, 2009 10:54pm | Edited 11:07pm
Quoting jack.canadia
I trade between pivot levels yes. Last week, I made just above 400 pips using this approach. I will post a chart to show you.
NIce done!!
My weekly target is 600...

------------

I smell a bear, getting speed in the fx wood!

http://jasperwildlife.com/images/Def...izzly-Bear.jpg
  • #120,777
  • Feb 16, 2009 11:00pm Feb 16, 2009 11:00pm
Sofia..since you use targets as Jack does..I read that you seem to think Jacks is different from yours.

yours is around 4060 level..correct

how much different...
  • #120,778
  • Feb 16, 2009 11:01pm Feb 16, 2009 11:01pm
This is the run from 1.4050 to ~1.5000. Look how the pivots (solid lines) and mid levels (dotted lines) are respected. Not always, but a large percentage of the time. Price may rally to and stall, pull back and then continue on from these levels.

The trend during this time frame was up (price is above 21 EMA) so each time price came to a pivot level, I was watching on the 5 minute and 1 minute how it reacted and if I noticed the proper set up, I would take the trade with a very small stoploss, just below the most recent swing high or low. Using this you can trade both ways and have ideal price targets even when, by your rules, the trend is up.

The break in each line is the start of a new day at 00:00 GMT.
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  • #120,779
  • Feb 16, 2009 11:04pm Feb 16, 2009 11:04pm
this is my ride down. took short @ 4235
good luck & green pips to all
Thank You
  • #120,780
  • Feb 16, 2009 11:05pm Feb 16, 2009 11:05pm
Quoting wormboy
this is my ride down. took short @ 4235
good luck & green pips to all
Gotta break 4168 first.
Going to make it big by age 21.
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