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Cable Update (GBPUSD)

  • #129,981
  • Apr 20, 2009 11:27am Apr 20, 2009 11:27am
Quoting EricB
Im here to help and learn from others. I am here to share and learn what I can. This means learning from others here on their techniques whatever they may be. This what I hope and think this community is about. If you guys dont believe in any technicals/fundamentals then whats the point of being here and talking away? Talk is cheap as you say yourself. Please let the people who do hard work in doing technical/fundamental analysis and commentary get on with helping each other.

I use technical analysis.
It's Easy To Get In;.. It's Hard To Get Out
  • #129,982
  • Apr 20, 2009 11:39am Apr 20, 2009 11:39am
Quoting John D
Fibs, S&R, TL's, chart patterns, candles whatever. I don't care about what the talking heads say (talk is cheap). Remember price is the ultimate indicator.

Just... Trade what you see NOT what you think!
Agreed. PA is king. But, it is still subjective. Those who do not know how, will say these are useless.
Let me use the ones that you mentioned as an example for cable & on the daily timeframe.

1. Fibs - Stalled price atm is at 38.2% fibs ( 11th March low @3655 ) to ( 16th April high @5070)

2. S&R - Stalled price atm is at a psychological support level ( support & resistance @4500 [ 13th November 08, 4th,5th,29th,30th,31st December 08, 2nd, 4th,5th,7th,13th,14th,15th,30th January 09, 4th,11th,24th,25th February & 1st April 09].

3. TL - Stalled price is now testing the ascending tl from 11th March @3655

4. MA - Stalled price rejected at 100 sma.

5. Chart/candles pattern - Current downmove was already signaled with the bearish engulfing pattern on the 16th April 09.
Thank You
  • #129,983
  • Apr 20, 2009 11:44am Apr 20, 2009 11:44am
Quoting Bebini
There is no data to back the predictions, we can tell you after has hapened.
What do you mean AFTER? Speak for yourself if you're gonna continue splurting bollocks.

1.http://www.forexfactory.com/showpost...&postcount=882
2.http://www.forexfactory.com/showpost...&postcount=894
3.http://www.forexfactory.com/showpost...&postcount=897
4.http://www.forexfactory.com/showpost...&postcount=898
Thank You
  • #129,984
  • Apr 20, 2009 11:48am Apr 20, 2009 11:48am
Quoting wormboy
What do you mean AFTER? Speak for yourself if you're gonna continue splurting bollocks.

1.http://www.forexfactory.com/showpost...&postcount=882
2.http://www.forexfactory.com/showpost...&postcount=894
3.http://www.forexfactory.com/showpost...&postcount=897
4.http://www.forexfactory.com/showpost...&postcount=898
Wormboy You are some guru, nice predictions, R U some kind of Mafalda?

Mafalda is a Turk that could tell the future back in 1468

Keep the good work and tell us the next move, please!
  • #129,985
  • Apr 20, 2009 11:50am Apr 20, 2009 11:50am
Quoting kalparker
Guys be careful with your trades, especially today, a big move in a day, now I'm just seeing this thread spammed with lots of ideas and predictions with no data to back them. You will lose your shirt.
THANKYOU FOR POINTING THAT OUT! THEY NEED TO HEAR IT
  • #129,986
  • Apr 20, 2009 11:55am Apr 20, 2009 11:55am
guys,
Need your expert advise.
i have long position on 1.4673.
What should i do? cut loss or hold?
thx.
  • #129,987
  • Apr 20, 2009 11:56am Apr 20, 2009 11:56am
Quoting wormboy
What do you mean AFTER? Speak for yourself if you're gonna continue splurting bollocks.

1.http://www.forexfactory.com/showpost...&postcount=882
2.http://www.forexfactory.com/showpost...&postcount=894
3.http://www.forexfactory.com/showpost...&postcount=897
4.http://www.forexfactory.com/showpost...&postcount=898

NICE! Keep up the good TA!
It's Easy To Get In;.. It's Hard To Get Out
  • #129,988
  • Apr 20, 2009 11:58am Apr 20, 2009 11:58am
Quoting Bebini
Wormboy You are some guru, nice predictions, R U some kind of Mafalda?

Mafalda is a Turk that could tell the future back in 1468

Keep the good work and tell us the next move, please!
I don't get sucked into sarcasm.
But, weren't you the one predicting? 50 - 70 pips in 15 minutes?
How about you humor us with another? Please!
Thank You
  • #129,989
  • Apr 20, 2009 12:02pm Apr 20, 2009 12:02pm
Quoting wormboy
I don't get sucked into sarcasm.
But, weren't you the one predicting? 50 - 70 pips in 15 minutes?
How about you humor us with another? Please!
My EA took a buy and then another and so on on every 28 pips, because is a Grid and looks at no indicators... This grid works on cable for five months and I see retractions all the time....
  • #129,990
  • Apr 20, 2009 12:02pm Apr 20, 2009 12:02pm
  •  Trader#F280
  • | Status: Unregistered Trader
whilst u all been fighting to figure out what best to trade, and which one can slam the other the best, i have been trading stoches... and sadly, maybe i should have watched the fights more closely. only +110 today since 6am Eastern time... sad, ain't it. guess i will never learn

WormBoy... continue on with your calcs. they have helped me out and will continue to watch. don't let these buggers get you. History shows that u have a higher percentage of gains and LOWER percentage of losses than those who critisize you.

those who want to learn... find what works for YOU. lean on experience, but trade YOUR own system.

If i could, i would write a prog that shows movements, but sadly... technically challenged that i am, i can only look to the historical winners, read their charts, diagnose for myself, then trade. no bells, no whistles just focused trading\

wha' can i say... Peace Out
  • #129,991
  • Apr 20, 2009 12:03pm Apr 20, 2009 12:03pm
Quoting jack.canadia
If you're short also make sure your stop is in .. and in profit if reasonable. It can do one of two things here and hopefully it keeps going down to break the pitchfork line!

I was short early this AM from 4696 to 4605. nice move, but as usual, i was out early

it has obviously gone past the 4580 support area underdeath what looks like H&S on the 1H. Now it seems stalled... i'm waiting to see if it makes another hard movement toward 4300 neighborhood, or if the equity mkts get over their "pullback" and it heads back toward 4820.

will also have to see what comments out of UK on wed bring...
  • #129,992
  • Apr 20, 2009 12:06pm Apr 20, 2009 12:06pm
Quoting macK
whilst u all been fighting to figure out what best to trade, and which one can slam the other the best, i have been trading stoches... and sadly, maybe i should have watched the fights more closely. only +110 today since 6am Eastern time... sad, ain't it. guess i will never learn

WormBoy... continue on with your calcs. they have helped me out and will continue to watch. don't let these buggers get you. History shows that u have a higher percentage of gains and LOWER percentage of losses than those who critisize you....

Yes, Wormboy's analysis is keen Helps me too. Fib is my most useful tool, and S&R in forex is very important.
  • #129,993
  • Apr 20, 2009 12:09pm Apr 20, 2009 12:09pm
Quoting macK
only +110 today since 6am Eastern time... sad, ain't it. guess i will never learn
110 on the plus side is no slouch mate. Nicely done
Peace out mack & have a good one.
Thank You
  • #129,994
  • Apr 20, 2009 12:56pm Apr 20, 2009 12:56pm
Wow she took out an extra 100+ over night! It's too bad I closed but I hate leaving a winner on the table while I sleep.

Aw well. At the time, daily PA suggested an uptrend (higher highs and higher lows).

Now she's made a lower low (maybe hammering out a medium term downtrend), so a pullback to short might be in the works. With many resistance levels now in the way going back up, I propose the following trade plan.

First off, 15-min MACD bullish divergence suggesting a temporary bottom to the current move.

Black trendline coming from 3670 lows and fib of the down move.

PLAN

Look to short on a pullback to the 50.0%/61.8% retracement zone plus a re-test of the trendline to short. Currently in the white area I have indicated is the hourly 21 EMA, and the 55 EMA could catch up in time. Both as really strong areas to short off of currently, the 55 EMA moreso (this is a 15-min chart btw)

Entry near 4630/60.

T1 - 4430/4400 (prior support + 138.2 extension)
T2 - 4340 (161.8 extension)
T3 - 4250 (200.0 extension and well above a daily swing low)


Keep in mind, this is a plan built around current market conditions. A short at 4630/60 cannot be taken blindly without confirmation and a tight stop.

Good luck!
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  • #129,995
  • Apr 20, 2009 12:57pm Apr 20, 2009 12:57pm
Quoting John Lo
guys,
Need your expert advise.
i have long position on 1.4673.
What should i do? cut loss or hold?
thx.

John, depending on your margin maybe best to hold! All the best.
  • #129,996
  • Apr 20, 2009 1:07pm Apr 20, 2009 1:07pm
Quoting jack.canadia
Wow she took out an extra 100+ over night! It's too bad I closed but I hate leaving a winner on the table while I sleep.

Aw well. At the time, daily PA suggested an uptrend (higher highs and higher lows).

Now she's made a lower low (maybe hammering out a medium term downtrend), so a pullback to short might be in the works. With many resistance levels now in the way going back up, I propose the following trade plan.

First off, 15-min MACD bullish divergence suggesting a temporary bottom to the current move.

Black trendline coming from 3670...
Jack, welcome back. got my email.
Thanks again for your kind email.
  • #129,997
  • Apr 20, 2009 1:14pm Apr 20, 2009 1:14pm
What have you chaps been doing to my GBP ?

I have just got back from England last night where I spent huge amounts on Timmy Taylor Landlord bitter, and fish and chips, and bags of plain crisps and my daughter ripped me off a bundle too

When I get my credit card statement it will confirm that I pumped mega wodges into the Uk economy which will show in the April figures

I am long cable in anticipation
  • #129,998
  • Apr 20, 2009 1:18pm Apr 20, 2009 1:18pm
Do 4430 confirmed?
  • #129,999
  • Apr 20, 2009 1:32pm Apr 20, 2009 1:32pm
4 hour GBP/USD
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  • #130,000
  • Edited 3:41pm Apr 20, 2009 3:29pm | Edited 3:41pm
Nice plan. You can also add to that this HUGE divergence being set up here on the 1 Hr timeframe. Logic is pointing to a nice down move thru 4300 levels.

Tate

Quoting jack.canadia
Wow she took out an extra 100+ over night! It's too bad I closed but I hate leaving a winner on the table while I sleep.

Aw well. At the time, daily PA suggested an uptrend (higher highs and higher lows).

Now she's made a lower low (maybe hammering out a medium term downtrend), so a pullback to short might be in the works. With many resistance levels now in the way going back up, I propose the following trade plan.

First off, 15-min MACD bullish divergence suggesting a temporary bottom to the current move.

Black trendline coming from 3670...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 22 KB
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