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Cable Update (GBPUSD)

  • #120,761
  • Feb 17, 2009 12:40am Feb 17, 2009 12:40am
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 17, 2009 12:40am Feb 17, 2009 12:40am
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 17, 2009 12:43am Feb 17, 2009 12:43am
Quoting sofia101
My pivot is lower
1.4190 seems pretty legit to me...
  • #120,764
  • Feb 17, 2009 12:44am Feb 17, 2009 12:44am
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 17, 2009 12:45am Feb 17, 2009 12:45am
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 17, 2009 12:46am Feb 17, 2009 12:46am
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 17, 2009 12:47am Feb 17, 2009 12:47am
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 17, 2009 12:48am Feb 17, 2009 12:48am
http://www.stud.tu-ilmenau.de/%7Ehak...s/retarded.jpg
Going to make it big by age 21.
  • #120,769
  • Feb 17, 2009 12:49am Feb 17, 2009 12:49am
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 17, 2009 12:50am Feb 17, 2009 12:50am
LOL !!
  • #120,771
  • Feb 17, 2009 12:51am Feb 17, 2009 12:51am
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 17, 2009 12:51am Feb 17, 2009 12:51am
Quoting dstryr
http://www.stud.tu-ilmenau.de/%7Ehak...s/retarded.jpg
Cool
  • #120,773
  • Feb 17, 2009 12:53am Feb 17, 2009 12:53am
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 17, 2009 12:53am Feb 17, 2009 12:53am
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 17, 2009 12:54am Feb 17, 2009 12:54am
Not an argument Sofia..
I just wanted to get clarity on Jacks usage of the pivot...and entry
appreciated..
  • #120,776
  • Edited 1:07am Feb 17, 2009 12:54am | Edited 1:07am
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 17, 2009 1:00am Feb 17, 2009 1:00am
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 17, 2009 1:01am Feb 17, 2009 1:01am
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 17, 2009 1:04am Feb 17, 2009 1:04am
this is my ride down. took short @ 4235
good luck & green pips to all
Thank You
  • #120,780
  • Feb 17, 2009 1:05am Feb 17, 2009 1:05am
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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