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Cable Update (GBPUSD)

  • #130,101
  • Apr 21, 2009 1:41pm Apr 21, 2009 1:41pm
Twin horses at the Daily Uptrend line, what a dream come true. I am down unless a break of 1.4760.
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  • #130,102
  • Apr 21, 2009 1:45pm Apr 21, 2009 1:45pm
Quoting jack.canadia
When do you calculate your pivots. Based on what time close in GMT?

I was using 00:00 GMT but now I use 21:00 GMT (5:00 pm EST).
I have got used 21:00GMT.
  • #130,103
  • Apr 21, 2009 1:48pm Apr 21, 2009 1:48pm
Quoting Tater
Twin horses at the Daily Uptrend line, what a dream come true. I am down unless a break of 1.4760.
I only know one fella who still use that 85 smooth religiously.
Jim!
Thank You
  • #130,104
  • Edited 2:02pm Apr 21, 2009 1:52pm | Edited 2:02pm
Quoting djisamsoe99
Hi Manize, I saw the daily pivot on your chart is at 4576, and it's different with mine which is at 4616...
Did I calculate it wrong? (yesterday's high + low + close : 3)?
I'm a newbie, trying to learn from you guys.
Thanks!
I use an automatic pivot indicator software ! Updated on 0 + 00 GMT !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #130,105
  • Apr 21, 2009 1:55pm Apr 21, 2009 1:55pm
89.....LOL

Quoting wormboy
I only know one fella who still use that 85 smooth religiously.
Jim!
  • #130,106
  • Apr 21, 2009 1:56pm Apr 21, 2009 1:56pm
Just copied from some dude that used to post in here.

Tate
  • #130,107
  • Apr 21, 2009 1:57pm Apr 21, 2009 1:57pm
Quoting jack.canadia
Your MT4 closes at a different time. A funny time. You should consider switching to one that uses 00:00 GMT as your close.

To short, I like 4700 but 4750 more.
Tater I commented on your MT4, not your trading. As you can see in an earlier post, I shorted at 4700, at resistance while Im sure everyone in here thought to high heaven that we'd be up in the 48's in no time.

I never said your analysis was wrong, simply that your broker closes, at what looks to be, a few hours off of the normal GMT closing times.

No need to try and establish rank with your 7 years of experience comment because quite frankly if you had 25 you still be 'just another person in the forum' to me.
  • #130,108
  • Apr 21, 2009 1:59pm Apr 21, 2009 1:59pm
I didnt take it wrong, that is the problem with type, you lose all socialism. No offense my friend and none taken.




Quoting jack.canadia
Tater I commented on your MT4, not your trading. As you can see in an earlier post, I shorted at 4700, at resistance while Im sure everyone in here thought to high heaven that we'd be up in the 48's in no time.

I never said your analysis was wrong, simply that your broker closes, at what looks to be, a few hours off of the normal GMT closing times.

No need to try and establish rank with your 7 years of experience comment because quite frankly if you had 25 you still be 'just another person in the forum' to me.
  • #130,109
  • Apr 21, 2009 2:03pm Apr 21, 2009 2:03pm
Actually it's not MT4, it's FXDD that determines the closing times. I have both. I have Ibankfx which is 2 hours off and this one with FXDD and it sometimes can give you an edge.

Quoting Tater
I didnt take it wrong, that is the problem with type, you lose all socialism. No offense my friend and none taken.
  • #130,110
  • Apr 21, 2009 2:03pm Apr 21, 2009 2:03pm
Quoting Tater
I didnt take it wrong, that is the problem with type, you lose all socialism. No offense my friend and none taken.
Ya words dont express emotions haha.

Anywho, good to see you share the same view as I about the 4700 level.

What you have in mind for a downside target, if you're in a position that is.
  • #130,111
  • Apr 21, 2009 2:08pm Apr 21, 2009 2:08pm
Drew yet another 1 hr trendline and looking near term for the uptrendline at the bottom. May bounce around till midnite or so, but you never know. A good target would be back to the 23.6 % Fib for right now.
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  • #130,112
  • Apr 21, 2009 2:12pm Apr 21, 2009 2:12pm
Got to work in a few hours, so not going to get aggressive with this down market. I think it is slowing now and I do have a small short to that Fib level with my stop above the 89 SMA. If it stops me, it stops me, I am betting it won't.

Of course, this morning I said it would continue down with the bearish divergence and as soon as I posted it, wham, up it went so you can never tell.
  • #130,113
  • Apr 21, 2009 2:54pm Apr 21, 2009 2:54pm
Quoting Tater
89.....LOL
lol. you are not hard to spot jim, I knew those candles looked familiar when you posted the aud/usd trade up at the hole
Good to have you back
Thank You
  • #130,114
  • Apr 21, 2009 3:01pm Apr 21, 2009 3:01pm
Quoting Tater
Got to work in a few hours, so not going to get aggressive with this down market. I think it is slowing now and I do have a small short to that Fib level with my stop above the 89 SMA. If it stops me, it stops me, I am betting it won't.

Of course, this morning I said it would continue down with the bearish divergence and as soon as I posted it, wham, up it went so you can never tell.
You're on my friend.
4460 holds & we fly back up to 4950. Hehe.

*Disclaimer*
I am predicting simply because i have no open position for cable. couldnt care less what happens
Thank You
  • #130,115
  • Apr 21, 2009 3:08pm Apr 21, 2009 3:08pm
Quoting wormboy
You're on my friend.
4460 holds & we fly back up to 4950. Hehe.

*Disclaimer*
I am predicting simply because i have no open position for cable. couldnt care less what happens
lol... no doubt about it... and at the end of the month, no one would be surprised about where the price will be, since they change minds every day, hour, minute and tick...and in a few months the price will be floating at 1.75 just before the next wave causes land slides... I`ve seen many times, that at the last week or atleast the last few days of the month, the trend works wonders..
  • #130,116
  • Apr 21, 2009 3:10pm Apr 21, 2009 3:10pm
Add long 1.4660, SL 1.4650 ! I am out now. Trade well what you see guys !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #130,117
  • Apr 21, 2009 5:09pm Apr 21, 2009 5:09pm
Quoting Bull_Bear
Stay with the retrace... 1.4500 and the 61.8% level should provide enough support to halt the down side. curently holding 2 postions @ 1.4505 and 1.4480 to the upside.
Top to the morning to YA!!!!! Taregt reached from last nights session... +192 and +217 pips. Currently have 1 position open @ 1.4697 to the short side, have another order @ 1.4745 if market continues north, SL for both is 1.4775.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,118
  • Apr 21, 2009 7:34pm Apr 21, 2009 7:34pm
Resistance 4740/60
50% fib 4766
Daily R1 Pivot 4766

Resistance 4830/50
61.8% fib 4840
Daily R2 Pivot 4860
Weekly Pivot and High 4800

Two zones to look to short on a failure, 4830/50 being the better one. This assumes we will continue south.

In both cases we have two options, short if price fails to break or long if price breaks and re-tests the level. Otherwise no trade for me!

Bull Case

We bounced off a 61.8% and 50.0% fib and are making higher lows and higher highs.

Bear Case

4-Hour 21 crossed below the 55 EMA. Daily price action produced a lower swing low.


This is my current plan for the evening and into the London session. Anything is possible from where we are now.
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  • #130,119
  • Apr 21, 2009 10:20pm Apr 21, 2009 10:20pm
Another option. This is a trendline from the high in the 1.500's.

Can long a break of the upper blue line since we are still bullish from this morning.
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  • #130,120
  • Apr 21, 2009 11:40pm Apr 21, 2009 11:40pm
What kind of bounce do you think we'll see from 1.4609? I was long as the channel formed. Will we get back to 1.4686 today?
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