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Cable Update (GBPUSD)

  • #123,401
  • Feb 25, 2009 9:56am Feb 25, 2009 9:56am
Quoting JammerJams
gentlemen..

your basing this hammer on a "1 Minute chart" this is not a 15 minute chart
I didn't know what time frame the chart was, nor care, but I would have entered a long on the following candle I had circled. According to the chart, my long looks like it would have been good.
Just digging in the trenches like everyone else!
  • #123,402
  • Feb 25, 2009 9:57am Feb 25, 2009 9:57am
Why would anyone go long here, its like calling a bottom. Wait for the bottom to present itself.
  • #123,403
  • Feb 25, 2009 9:59am Feb 25, 2009 9:59am
Quoting AmeriTrini
Why would anyone go long here, its like calling a bottom. Wait for the bottom to present itself.
because 1.4235 is great support
ROBOT FOREX
  • #123,404
  • Feb 25, 2009 9:59am Feb 25, 2009 9:59am
Quoting mcmartins
this all i see for now, i see us going down
i do agree down is the direction to enter a sell right here is dangerous..the next 4hr can easilly show a rejection to this support and everything can change
  • #123,405
  • Feb 25, 2009 9:59am Feb 25, 2009 9:59am
Quoting Infinity
I closed partially at 95 and have the rest at +2... I have a feeling 423x will be the spot...

I hope you wait for that to be confirmed, no ma or ema can confirm that.
  • #123,406
  • Feb 25, 2009 10:00am Feb 25, 2009 10:00am
Quoting AmeriTrini
Why would anyone go long here, its like calling a bottom. Wait for the bottom to present itself.

Agree with you here...MACD says this drop may not be done just yet....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #123,407
  • Feb 25, 2009 10:02am Feb 25, 2009 10:02am
Quoting JammerJams
gentlemen..

your basing this hammer on a "1 Minute chart" this is not a 15 minute chart
just findin what works and what doesnt so far im doing great at finding things that dont work
  • #123,408
  • Feb 25, 2009 10:02am Feb 25, 2009 10:02am
Quoting Forbes55
because 1.4235 is great support
rsi is below 50. that support could be blown away easily
Thank You
  • #123,409
  • Feb 25, 2009 10:06am Feb 25, 2009 10:06am
Quoting AmeriTrini
I hope you wait for that to be confirmed, no ma or ema can confirm that.
price action will confirm or deny that... anyway, my 5ema gave me a good warning to partially close my longs and protect my profit (stopped out +2 on remaining) . Anyway, I am not afraid to take positions at strong support areas even before full confirmation because I know the risk I am willing to take...

I got back in at 4234 btw...and covered...
Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 24 KB
Patience + Discipline - Greed = Success
  • #123,410
  • Feb 25, 2009 10:07am Feb 25, 2009 10:07am
Fib retracement on 4hr shows bottom @ 1.4092...MACD about to x below zero on next tick down.

Current spike brought price -100 from 8MA, will most likely see a correction to 1.4300 area <- 4MA.

Still happy sitting sidelines here...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #123,411
  • Feb 25, 2009 10:07am Feb 25, 2009 10:07am
Quoting Infinity
price action will confirm or deny that... anyway, my 5ema gave me a good warning to partially close my longs and protect my profit (stopped out +2 on remaining) . Anyway, I am not afraid to take positions at strong support areas even before full confirmation because I know the risk I am willing to take...

I got back in at 4234 btw...and covered...
Do I see 4400 as your target?
Just digging in the trenches like everyone else!
  • #123,412
  • Feb 25, 2009 10:10am Feb 25, 2009 10:10am
Quoting eohater
Do I see 4400 as your target?
Went long @ 4239...took profit, move s/l @ +2.

Looking at 4300 then 4400.

HOLLA
  • #123,413
  • Feb 25, 2009 10:10am Feb 25, 2009 10:10am
Quoting eohater
Do I see 4400 as your target?
i got in at 4235s also, 4375 reasonable target, see how it goes....
Trading is 80% Emotional, 20% Technical
  • #123,414
  • Feb 25, 2009 10:12am Feb 25, 2009 10:12am
Quoting eohater
Do I see 4400 as your target?
i wont trust 44 but 43 for sure possible the lower high on the left
  • #123,415
  • Feb 25, 2009 10:12am Feb 25, 2009 10:12am
Quoting eohater
Do I see 4400 as your target?
Yeah bro!!! I will be taking some profit along the way though...Already took some at the 5ema...
Patience + Discipline - Greed = Success
  • #123,416
  • Feb 25, 2009 10:13am Feb 25, 2009 10:13am
Quoting Infinity
price action will confirm or deny that... anyway, my 5ema gave me a good warning to partially close my longs and protect my profit (stopped out +2 on remaining) . Anyway, I am not afraid to take positions at strong support areas even before full confirmation because I know the risk I am willing to take...

I got back in at 4234 btw...and covered...
Here's one for the fibs lovers...
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Patience + Discipline - Greed = Success
  • #123,417
  • Feb 25, 2009 10:14am Feb 25, 2009 10:14am
Quoting Infinity
Yeah bro!!! I will be taking some profit along the way though...Already took some at the 5ema...
I'm not in yet, I'll find a seat though. Of course, we always take profit along the way. Good job on your entry!! Excellent call bro!
Just digging in the trenches like everyone else!
  • #123,418
  • Feb 25, 2009 10:17am Feb 25, 2009 10:17am
HELLO EVERYONE,
jUST POPED IN to say hi to those in this session, i mostly trade the London open. I really see 2day is good to all that went south. I will pray to all those that will continue trading( only those on this thread).....in the church when i reach!
  • #123,419
  • Feb 25, 2009 10:22am Feb 25, 2009 10:22am
4235 is the neckline of the h4 h&s from a few days ago. It also is the 1.618 fib extension of the last up move on the m15 chart. Seems like a decent place to go long to me.
Hi, my name is Barry and you can keep your doctor...
  • #123,420
  • Feb 25, 2009 10:34am Feb 25, 2009 10:34am
Quoting eohater
I'm not in yet, I'll find a seat though. Of course, we always take profit along the way. Good job on your entry!! Excellent call bro!
Thanks bro!!

We need to get above the 10ema and the blue trendline on m15 to confirm that we could see higher levels.. however today's close will be very crucial... if we close below the lower line on the daily... we should get some nice shorts...
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Click to Enlarge Name: day.gif Size: 16 KB
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Patience + Discipline - Greed = Success
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