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Cable Update (GBPUSD)

  • #128,161
  • Mar 26, 2009 8:10am Mar 26, 2009 8:10am
Quoting PipLand
Hi Albchr,

Thanks for posting your chart, I think it makes a lot of sense.

Im currently sidelined as I expect it is possible to run upto the top blue line on your chart. This would make a very nice looking H&S on the 4hr chart.

I'm not playing a long from here as I see strong resistance. I will wait for the price to move up and then look for a signal to short (near the top blue trendline) in the hope the H&S plays out.

Might get an hours sleep for now, catch you later and good luck
Thanks for your input pip. I committed a long at the close so we'll see if I can "live" my chart...LOL

Happy zzzzzzz

EDIT: I should add that I'm going a full lot and only looking for 10+ pips.
Ghost Rider - WWTBMD?
  • #128,162
  • Mar 26, 2009 8:13am Mar 26, 2009 8:13am
Hi Pip,
I agree on what you have said, I just go for short tp 1.4515 with small lot with SL 1.4700.
  • #128,163
  • Mar 26, 2009 8:15am Mar 26, 2009 8:15am
Money management is THEE key to success in forex

I don't think that a new thread is needed to discuss money management. A thread specifically devoted to money management would probably only last for a few months before it died out. Once people say their piece about how they manage their money and once they comment on how other people manage their money, the conversation would eventually come to a halt. That topic isn't completely sustainable as a separate thread. But like I said, that topic IS important and SHOULD be discussed.

What I think would benefit the people in this forum the best is to discuss it here in this thread as it applies to the Cable. By keeping the topic in this thread, you can keep the good conversation about Cable, and have the added bonus of talking and learning about other topics that are important in trading. I think people will get more out of it by having those types of conversations in this thread rather than starting a new thread. For instance, when talking about your money management style, you'll be able to reference current trades that you are making which will make what you are saying more clear to the people who are reading it.

That's just my thoughts on the idea...


All the newbies should be spending time learning Money Management skills
Don't chase the market, Let the market come to you
  • #128,164
  • Mar 26, 2009 8:29am Mar 26, 2009 8:29am
I'm short from 1.4615...think we are in a downward channel still, TP toward bottom of channel. Also, bounced off previous high today of 1.4634, so looks like a double top forming, which also leads me to believe we are heading south now.
Attached Image (click to enlarge)
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  • #128,165
  • Mar 26, 2009 8:39am Mar 26, 2009 8:39am
12 hour gone and we have a harami right now if the low of yesterday is not taken ,it would invalidate the engulfing.
I think this is possible because of the weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: 201) gbpusd ,daily,26 march.gif Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #128,166
  • Mar 26, 2009 9:01am Mar 26, 2009 9:01am
Quoting Touchdown
I'm short from 1.4615...think we are in a downward channel still, TP toward bottom of channel. Also, bounced off previous high today of 1.4634, so looks like a double top forming, which also leads me to believe we are heading south now.
Agreed with the short side she's firing guns with both barrels now.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,167
  • Mar 26, 2009 9:01am Mar 26, 2009 9:01am
Quoting Touchdown
I'm short from 1.4615...think we are in a downward channel still, TP toward bottom of channel. Also, bounced off previous high today of 1.4634, so looks like a double top forming, which also leads me to believe we are heading south now.
Target reached, 1.4540...75 pips. Could see a bounce off the bottom of the channel now at about 1.4525 for a long but will stay out of longs for now
  • #128,168
  • Mar 26, 2009 9:09am Mar 26, 2009 9:09am
Support currently under attach again right now ,could be wrong the daily engulfing is V nice,maybe a fall in the dow would push us lower,as has touched res yesturday.
My Weekly,
Attached Image (click to enlarge)
Click to Enlarge Name: 201) gbpusd ,weekly,26 march.gif Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #128,169
  • Mar 26, 2009 9:14am Mar 26, 2009 9:14am
Quoting Bones
Support currently under attach again right now ,could be wrong the daily engulfing is V nice,maybe a fall in the dow would push us lower,as has touched res yesturday.
My Weekly,
Too right Bones, I'm targeting at 1.4455.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,170
  • Mar 26, 2009 9:17am Mar 26, 2009 9:17am
Did I miss some news or something here??? Dollar is up against all majors all of a sudden??
Ghost Rider - WWTBMD?
  • #128,171
  • Mar 26, 2009 9:24am Mar 26, 2009 9:24am
Quoting Bull_Bear
Too right Bones, I'm targeting at 1.4455.
I agree

Bottom of channel broken and I don't see any resistance now until weekly low of 1.4450 at least.
  • #128,172
  • Mar 26, 2009 9:26am Mar 26, 2009 9:26am
All Positions Closed 1.4484, +135 Pips From Main Trade And Several Small Scalps, Nice Day !
  • #128,173
  • Mar 26, 2009 9:45am Mar 26, 2009 9:45am
becareful for the long may be there is H&S on the 4hrs
  • #128,174
  • Mar 26, 2009 9:53am Mar 26, 2009 9:53am
Chart Idea for GBP/USD




Good Trading!!

http://sites.google.com/site/wiancor...hart---gbp-usd
Attached Image (click to enlarge)
Click to Enlarge Name: gu thurs3.jpg Size: 105 KB
  • #128,175
  • Mar 26, 2009 9:55am Mar 26, 2009 9:55am
GBP/USD Chart Idea



Good Trading!!

http://sites.google.com/site/wiancor...hart---gbp-usd
Attached Image (click to enlarge)
Click to Enlarge Name: gu thurs3.jpg Size: 105 KB
  • #128,176
  • Mar 26, 2009 9:57am Mar 26, 2009 9:57am
Quoting wian corp
GBP/USD Chart Idea



Good Trading!!

http://sites.google.com/site/wiancor...hart---gbp-usd

NICE!!

  • #128,177
  • Mar 26, 2009 10:00am Mar 26, 2009 10:00am
wave chart
Attached Image (click to enlarge)
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{Promotion Removed}
  • #128,178
  • Mar 26, 2009 10:05am Mar 26, 2009 10:05am
Till this point man ???

Do u really see that this is the target now?


Quoting derek
wave chart
  • #128,179
  • Mar 26, 2009 10:14am Mar 26, 2009 10:14am
Quoting mohfaid
Till this point man ???

Do u really see that this is the target now?
this is target for one week and best entry point
{Promotion Removed}
  • #128,180
  • Mar 26, 2009 10:27am Mar 26, 2009 10:27am
Quoting derek
this is target for one week and best entry point
1.36 IN ONE WEEK ? MAY TAKE LONGER DEREK !
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