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Cable Update (GBPUSD)

  • #123,561
  • Feb 25, 2009 5:30pm Feb 25, 2009 5:30pm
Long, based on 4hr time frame chart
Regards
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"Even A Thousand Mile Journey Begins with the First Step"
  • #123,562
  • Feb 25, 2009 5:31pm Feb 25, 2009 5:31pm
The bull win on the ADX indicator an uptrend seem to be starting on the 15m
38fib coincide with the weekly pivot so a first attemp to touch the weekly pivot shoudl be a could probability at 4350 at leat a try if we miss we should fall down more.

that is what i think.
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  • #123,563
  • Feb 25, 2009 6:10pm Feb 25, 2009 6:10pm
Quoting Shilva
14,3,E,5,E
Thanks, but I didn't find that indicator on MT4.
What is the name?
  • #123,564
  • Feb 25, 2009 6:13pm Feb 25, 2009 6:13pm
and there goes again free downfall
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  • #123,565
  • Feb 25, 2009 8:54pm Feb 25, 2009 8:54pm
Don't worry she'll going up, i think next week she ll going up till 1.5+++ and then fall again and by march it reach 1.6+++, perhaps em
  • #123,566
  • Feb 25, 2009 9:21pm Feb 25, 2009 9:21pm
Out of curiosity,

what broker are you using ?
If you can share that info.

I'd like to trade daily only too, simply because I don't have time to look at it every 10 minutes.

Thanks.

Quoting AJspeed
Call your broker and tell them to switch you to a micro account. ( You can still trade mini's with a micro if you want). If your broker don't do micros the get a real broker. Its simple really when you trade .010 micro lots and need a 500 pips stop on the Daily it only amounts to $50. You don't sweat trades anymore and you ride the waves. My trading improved 100% when I went to a micro. You trade the daily without noise and stick to basic fundementals, trendlines, wedges and channels and stuff and TRADE WITH THE TREND. You will be fine. I...
  • #123,567
  • Feb 25, 2009 10:14pm Feb 25, 2009 10:14pm
Just went long 1.4216 .. stop at 1.4200
  • #123,568
  • Feb 25, 2009 10:17pm Feb 25, 2009 10:17pm
Quoting trader8686
So, how is everyone doing here? short or long?
Just need some confirmations!

I'm short from 14250, stops above 14375 fwiw....
"Timing Is Everything. Really I Swear It Is"
  • #123,569
  • Feb 25, 2009 10:19pm Feb 25, 2009 10:19pm
Anyone have a weekly pivot indicator that looks like this daily one?
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  • #123,570
  • Feb 25, 2009 10:22pm Feb 25, 2009 10:22pm
Plenty of support where price is right now, down to 1.41, but I think you're jumping the gun to go long just yet. Be patient to see where we go from here is my advice
The trend is not your friend, it's your master.
  • #123,571
  • Feb 25, 2009 10:29pm Feb 25, 2009 10:29pm
Still holding short from 4550. sl still @ 4300. I have added one small position to my short @ 4210 looking for a long term downward move which hopefully reaches 3900 before I can lock it. This should be my last entry for this month.
Good luck everyone, green pips to all in trade.
Thank You
  • #123,572
  • Feb 25, 2009 10:30pm Feb 25, 2009 10:30pm
Quoting Cultured
Plenty of support where price is right now, down to 1.41, but I think you're jumping the gun to go long just yet. Be patient to see where we go from here is my advice
I longed for a few reasons. The last three times, including the most recent, that price came towards the 4100/4200 area, its made a higher low which tells me that the demand is moving to higher prices from the previous lows. Also, this area is a 50% zone of the large rise out of the 30's. Mind you, the more times an area is tested, the weaker it becomes. So the recent low may give out.

The dollar index looks to be completing three waves of bearish divergence on a 15m timeframe as well. We are also around the daily open at 4210.
  • #123,573
  • Feb 25, 2009 10:34pm Feb 25, 2009 10:34pm
Quoting wormboy
Still holding short from 4550. sl still @ 4300. I have added one small position to my short @ 4210 looking for a long term downward move which hopefully reaches 3900 before I can lock it. This should be my last entry for this month.
Good luck everyone, green pips to all in trade.
Nice work!
  • #123,574
  • Feb 25, 2009 10:39pm Feb 25, 2009 10:39pm
Mind if I ask, where is our next stop? 1.4190 now.
  • #123,575
  • Feb 25, 2009 10:40pm Feb 25, 2009 10:40pm
thanks jack. I'll see you when London opens later, am going out for lunch now. have a good one mate
Thank You
  • #123,576
  • Feb 25, 2009 10:45pm Feb 25, 2009 10:45pm
Quoting wormboy
Still holding short from 4550. sl still @ 4300. I have added one small position to my short @ 4210 looking for a long term downward move which hopefully reaches 3900 before I can lock it. This should be my last entry for this month.
Good luck everyone, green pips to all in trade.

I closed exact same position as soon as cable touched my tp at 1.4220. Then I went long half of my regular position at 1.4187 with sl @ 1.4087. I took half of that profit at 1.4287, second tp for the rest of the position was 1.4367. So right now I am at break even at 1.4087. However, as soon as cable touches 1.4150 i'll go long with my full regular trade, with the same sl.
  • #123,577
  • Feb 25, 2009 11:06pm Feb 25, 2009 11:06pm
short it
important news Nationwide HPI m/m came bad now!
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  • #123,578
  • Feb 25, 2009 11:10pm Feb 25, 2009 11:10pm
Quoting Forbes55
short it
important news Nationwide HPI m/m came bad now!
don't worry about the news, they were probably already in the price of cable. trade what charts are telling you. so far they are not telling me to short.
  • #123,579
  • Feb 25, 2009 11:16pm Feb 25, 2009 11:16pm
Quoting laromanell
don't worry about the news, they were probably already in the price of cable. trade what charts are telling you. so far they are not telling me to short.
Exactly charts are def not saying to go short just yet
  • #123,580
  • Feb 25, 2009 11:16pm Feb 25, 2009 11:16pm
Quoting laromanell
don't worry about the news, they were probably already in the price of cable. trade what charts are telling you. so far they are not telling me to short.
Correct. follow the last week trend. It will go up to 1.4313, then we go for short. And also set for another buy at 1.4340 just in case it break the pivot at 1.4324
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