Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#125,481
Mar 8, 2009 7:44pm Mar 8, 2009 7:44pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

IMHO, asian market sometime have the worst Price Action because they are the only bank besides AUD. Most setup works best during the London time and overlap with the NY times...

As I stated in my past post, depending if you are a scalper or swing trader..

I look for potential breakouts or reversal

Look at this chart I post several hours ago..

It seems that GU price action is retracing back to the highs but the dotted red TL may limited the price to the 1.4250-1.4300 area..

It is easier for newbies or experience traders to understand this chart..

Making calls is saying take my trade without charts.

Trade your charts..

Quoting albchr

Disliked

Well, I AM a newbie and therefore wouldn't pretend to offer any advice or charts. However, I would like some honest opinions about this.

I'm set to go short at 4200 and looking for the pivot at around 4030 or so. Any ideas?

I had a good week last week and shooting for the same.

I'm here to learn. Thanks! http://www.forexfactory.com/images/icons/icon7.gif

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Attached Image (click to enlarge)

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#125,482
Mar 8, 2009 7:46pm Mar 8, 2009 7:46pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

This is an excellent example or a setup or illustration of the charts..

Good setup..

Quoting Inzider

Disliked

5-0 Pattern on 15 TF.
PRZ = Potential reversal zone

Previous low at 1.4300 should contain upmove... let's see!

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#125,483
Mar 8, 2009 8:00pm Mar 8, 2009 8:00pm

Inzider
| Commercial User | Joined Feb 2008 | 1,440 Posts

Thx, i'm also bored about none sens calls: LONG SHORT LONG SHORT!
I ever tough this place is to share, not to show off.

Keep on good work too.

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35 pips reject from 1.4180...

#125,484
Mar 8, 2009 8:05pm Mar 8, 2009 8:05pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

I like the other board that WB invited the elite traders..

More interests on that board for swing trades..

Quoting Inzider

Disliked

Thx, i'm also bored about none sens calls: LONG SHORT LONG SHORT!
I ever tough this place is to share, not to show off.

Keep on good work too.

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35 pips reject from 1.4180...

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#125,485
Mar 8, 2009 8:21pm Mar 8, 2009 8:21pm

dengzhi
| Joined Jan 2008 | Status: Trader | 302 Posts

Quoting rgitt05

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It is easier for newbies or experience traders to understand this chart..
:

Ignored

if your not a newbie, and your not an experienced trader.. then what are you?

#125,486
Mar 8, 2009 8:33pm Mar 8, 2009 8:33pm

rgitt05
Joined Oct 2005 | Status: Trader | 3,596 Posts

Where did I say I am a newbie or experience trader? FYI, I am an independent trader that live off my trading...I am here to share my post charts...What do you have to offer?

Quoting dengzhi

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if your not a newbie, and your not an experienced trader.. then what are you?

Ignored

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#125,487
Edited 10:52pm Mar 8, 2009 10:16pm | Edited 10:52pm

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

In my view now she is moving in the long pressure area untill 1.4000 if able, because so many support before reaches that level ! But once she moves above 1.4157, start to shift in the short area pressure untill 1.4300 if able. Monday always difficult for me to make an entry, because both of res and supp fibo fan are in the balance power !

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I only trade XAU/USD. Based on USD news & Fib SR & BB20

#125,488
Edited 11:24pm Mar 8, 2009 11:03pm | Edited 11:24pm

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

Based on Abuawad platform we can take a long here because H4 already open/close above 1.4110 9 minutes ago. But keep in mind, SL should be placed at -56 pips ! And then depend on you to analize and decide if already got the green pips ! I myself don't trade yet untill London session open ! :nerd:

Attached Image (click to enlarge)

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Name: 090309c.gif
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I only trade XAU/USD. Based on USD news & Fib SR & BB20

#125,489
Edited Mar 9, 2009 12:07am Mar 8, 2009 11:42pm | Edited Mar 9, 2009 12:07am

Inzider
| Commercial User | Joined Feb 2008 | 1,440 Posts

target 1 of 61.8% of last 5-0 pattern complete, could correct or get further to 78.6 = 1.4069, etc..

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Edit - correction witch lead us into the 38.2 and 61.8% of last move = range mode, witch i for next hour.

Cya around London!

#125,490
Mar 9, 2009 2:28am Mar 9, 2009 2:28am

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

If H1 hold the long wick I maybe go long !

Attached Image (click to enlarge)

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Name: 090309d.gif
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I only trade XAU/USD. Based on USD news & Fib SR & BB20

#125,491
Mar 9, 2009 2:37am Mar 9, 2009 2:37am

dadak
| Joined Mar 2009 | Status: Trader | 1 Post

Hi Manize. I'm a newbie new. What do you mean by hold the long wick? Sorry if dumb question..

#125,492
Mar 9, 2009 2:42am Mar 9, 2009 2:42am

manize
| Joined Dec 2007 | Status: Trader | 3,220 Posts

Quoting dadak

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Hi Manize. I'm a newbie new. What do you mean by hold the long wick? Sorry if dumb question..

Ignored

See H1 there is a nice bounce with a long tail. It is a trigger of reversal ! But we must wait for the next H1 open London session open ) to get a fix confirmation !

I only trade XAU/USD. Based on USD news & Fib SR & BB20