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Cable Update (GBPUSD)

  • #126,321
  • Mar 12, 2009 10:43pm Mar 12, 2009 10:43pm
Quoting Inzider
1.414 is approximately the square root of 2. The square root of two is the hypotenuse of a right triangle whose other sides are 1 and 1.
Hope it helps you.
but how does that fit into forex trading and fibs? never seen or used 1.414 in any calculation for fibs on a forex chart before

nowhere does it fit into fibs used in forex charting that I have ever seen

http://en.wikipedia.org/wiki/Square_root_of_2
Don't chase the market, Let the market come to you
  • #126,322
  • Mar 12, 2009 10:47pm Mar 12, 2009 10:47pm
Quoting Tmac
but how does that fit into forex trading and fibs? never seen or used 1.414 in any calculation for fibs on a forex chart before

nowhere does it fit into fibs used in forex charting that I have ever seen

http://en.wikipedia.org/wiki/Square_root_of_2
Well, using harmonic trading is a common ratio... its only another extension.
Look at hamonic trading . com
It makes you a new tools!

Also look at chart last posted.
It dosen't need explanation.


.
  • #126,323
  • Mar 12, 2009 10:49pm Mar 12, 2009 10:49pm
Quoting Inzider
Well, using harmonic trading is a common ratio...
Look at hamonic trading . com

Also look at chart last posted.
It dosen't need explanation.


.
thanks, will stick to regular fibs

that number is not a fib number but a harmonic number so that clears that up for me....thanks


thanks for the site I will look around some
Don't chase the market, Let the market come to you
  • #126,324
  • Edited 11:24pm Mar 12, 2009 10:54pm | Edited 11:24pm
I understand!
I'm not feeling to arg about real or not, it works its enough for me.

"Wikipedia say: It was probably the first number known to be irrational"
Clear your question here i think yea

Cheers!


---------------
http://harmonictrader.com/
PDF is well done.
  • #126,325
  • Mar 12, 2009 11:29pm Mar 12, 2009 11:29pm
So what direction is GBP/USD going today?
  • #126,326
  • Mar 12, 2009 11:47pm Mar 12, 2009 11:47pm
Quoting derek
guys, guys need to sell now, STOP LOSS 1.4000
Best guess for today - my opinion
Maby stoping around 1.37 then shooting up...

http://www.forexfactory.com/attachme...6&d=1236891069
  • #126,327
  • Mar 12, 2009 11:48pm Mar 12, 2009 11:48pm
double post
  • #126,328
  • Mar 13, 2009 12:28am Mar 13, 2009 12:28am
I am wondering when or if a person should be resetting their fibs. I have used them very religiously in my equity trading, but there was not the kind of movement in eqs that there is in fx, so I rarely had to reset them. anything out past a 4h chart is self explanatory, but I like to use the 15m and 5m for entrys and exits. Any thoughts??
  • #126,329
  • Mar 13, 2009 12:58am Mar 13, 2009 12:58am
Quoting jsj1970
I am wondering when or if a person should be resetting their fibs. I have used them very religiously in my equity trading, but there was not the kind of movement in eqs that there is in fx, so I rarely had to reset them. anything out past a 4h chart is self explanatory, but I like to use the 15m and 5m for entrys and exits. Any thoughts??
15 min for yesterday HighLow fibs - very accurates!!
5min for last move - calculate extension/ correction or last move

1h/4h/daily last larger HL
  • #126,330
  • Mar 13, 2009 1:00am Mar 13, 2009 1:00am
dam double post.... my cpu or some...
  • #126,331
  • Mar 13, 2009 1:04am Mar 13, 2009 1:04am
Great question. My understanding of fibs has me set them on the high and low on the 4hr and 15 min for the current movement, and reset them for each new major high and low.
The trend is not your friend, it's your master.
  • #126,332
  • Mar 13, 2009 1:17am Mar 13, 2009 1:17am
going up to 4100-4150 now ?
i'm thinking about going long here to 4100-4150.
  • #126,333
  • Mar 13, 2009 1:29am Mar 13, 2009 1:29am
Quoting agent_smith
going up to 4100-4150 now ?
i'm thinking about going long here to 4100-4150.
I think you need to see something definative with 3930. If it breaks it and holds then I would agree with you, but it is quite strong resistance.
  • #126,334
  • Mar 13, 2009 1:33am Mar 13, 2009 1:33am
WE are kind of in between right now if cable will break 1.3970 we are going up on a down side is 1.3865 ,so it's in a flat right now I don't get in until I will see clear direction,cheers
  • #126,335
  • Mar 13, 2009 1:34am Mar 13, 2009 1:34am
Quoting agent_smith
going up to 4100-4150 now ?
i'm thinking about going long here to 4100-4150.
Based on what analysis? No offence, there is a probability that it will reach this level, but back up your thinking with why, then people can comment.

Is it just me that thinks like this in this thread? I see many people looking for trading tips more than chart analysis and confirmation.

Am I in the wrong thread?
The trend is not your friend, it's your master.
  • #126,336
  • Mar 13, 2009 1:58am Mar 13, 2009 1:58am
Quoting agent_smith
going up to 4100-4150 now ?
i'm thinking about going long here to 4100-4150.
quite the convincing wick for price action. I am playing south!!
Attached Image (click to enlarge)
Click to Enlarge Name: forex charts.gif Size: 24 KB
  • #126,337
  • Mar 13, 2009 2:01am Mar 13, 2009 2:01am
Quoting sofia101
WE are kind of in between right now if cable will break 1.3970 we are going up on a down side is 1.3865 ,so it's in a flat right now I don't get in until I will see clear direction,cheers
Make sens yes, i agree whit you on that.
Let's wait and see what London have for us tonight!

Fast/emotive entry can be painful here.

Quoting jsj1970
quite the convincing wick for price action. I am playing south!!
Small short from 22 here, wish you the best!
  • #126,338
  • Mar 13, 2009 2:01am Mar 13, 2009 2:01am
Quoting sofia101
WE are kind of in between right now if cable will break 1.3970 we are going up on a down side is 1.3865 ,so it's in a flat right now I don't get in until I will see clear direction,cheers

thank you, i think this is very close to reality of current situation in GU
  • #126,339
  • Mar 13, 2009 2:14am Mar 13, 2009 2:14am
Quoting Cultured
Based on what analysis? No offence, there is a probability that it will reach this level, but back up your thinking with why, then people can comment.

Is it just me that thinks like this in this thread? I see many people looking for trading tips more than chart analysis and confirmation.

Am I in the wrong thread?
Don't forget the punting & baseless trade calls. And people making predictions, those are priceless lol. No, you're not the only one who sees this. What used to be a very good thread now has the feel as if you're at the bookies at times. Few reckless people who think they can actually trade are ruining this thread.
Thank You
  • #126,340
  • Mar 13, 2009 2:22am Mar 13, 2009 2:22am
Quoting Cultured
Based on what analysis? No offence, there is a probability that it will reach this level, but back up your thinking with why, then people can comment.

Is it just me that thinks like this in this thread? I see many people looking for trading tips more than chart analysis and confirmation.

Am I in the wrong thread?

well, i think GU might go up here because:
dollar index just closed below some important resistance (88.5)
european shares might continue up on the back of last night usa gains
(until new york opens today, when there could be a big correction down)
all imho of course, i'm probably wrong
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