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Cable Update (GBPUSD)

  • #131,101
  • May 5, 2009 12:23am May 5, 2009 12:23am
Quoting jack.canadia
Yess based on recent highs and lows on the daily, GBPUSD is in an uptrend...

We have now made a double top at 5030/60 so it can go anywhere from here.

My definintion of trend comes from the Hourly and 15-min timeframe. I am not here to open a position and try to get long term 2000 pips.

I am here to trade, and right now we are in a downtrend based on the hourly and hence I am short.
And as they say, trend is your friend till it bends. .. well thats why i have a stop in too!
  • #131,102
  • May 5, 2009 12:29am May 5, 2009 12:29am
My take on it is we are in an uptrend. This is just a pullback. At 1.50 so Im not in this trade.
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FF journal: Peaks and Troffs
  • #131,103
  • May 5, 2009 12:30am May 5, 2009 12:30am
i'm in long from 4990
any idea ?
  • #131,104
  • May 5, 2009 12:31am May 5, 2009 12:31am
Quoting trustGod1234
Guys,

It is very painful how this thread has deteriorated...
I am absolutely agree with you
  • #131,105
  • May 5, 2009 12:34am May 5, 2009 12:34am
Buying right now is crazy in my opinion. You are buying below a major resistance level so already the odds are against you.

I will only buy on a clean break above 5060 (I'm talking a nice thrust to the level) and then a pullback to it to go long.

No more bickering over uptrend, downtrend, side trend, this trend, that trend. Im guilty too, but its just rediculous if you think about it.
  • #131,106
  • May 5, 2009 12:35am May 5, 2009 12:35am
Quoting sofia101
I am absolutely agree with you
Hence I started a new one where you need some vouchers to post in.
  • #131,107
  • May 5, 2009 12:36am May 5, 2009 12:36am
Quoting jack.canadia
Hence I started a new one where you need some vouchers to post in.
Thank you Jack and good luck to you,I will stop by your tread
  • #131,108
  • May 5, 2009 12:36am May 5, 2009 12:36am
Quoting jack.canadia
Hence I started a new one where you need some vouchers to post in.

where is your thread? i care more to read & learn than post...
  • #131,109
  • May 5, 2009 12:39am May 5, 2009 12:39am
Quoting smartalicus
where is your thread? i care more to read & learn than post...
Its called GBPUSD. I wont be posting, and its not my thread but you do need vouchers to post. Its an attempt to eliminate alot of uneccessary posts.

That way people with a bit more experience can post freely and hopefully help others. I personally am open to an private messages about my posts or methods. I also started a blog.
  • #131,110
  • May 5, 2009 12:42am May 5, 2009 12:42am
Quoting jack.canadia
Buying right now is crazy in my opinion. You are buying below a major resistance level so already the odds are against you.

I will only buy on a clean break above 5060 (I'm talking a nice thrust to the level) and then a pullback to it to go long.

No more bickering over uptrend, downtrend, side trend, this trend, that trend. Im guilty too, but its just rediculous if you think about it.
yeah , i agree with you , so i'm out from my long with +20 pips
and waiting for clean breaking
thnx for sharing your analysis
  • #131,111
  • May 5, 2009 12:44am May 5, 2009 12:44am
Quoting jack.canadia
Buying right now is crazy in my opinion. You are buying below a major resistance level so already the odds are against you.

I will only buy on a clean break above 5060 (I'm talking a nice thrust to the level) and then a pullback to it to go long.

No more bickering over uptrend, downtrend, side trend, this trend, that trend. Im guilty too, but its just rediculous if you think about it.
Thats my plan too. I think its in an uptrend. I use 4 hour charts as my master (looks like Ronins). I'll wait for this major resistance to be proven as support. If I traded now it would be hoping and guessing.
FF journal: Peaks and Troffs
  • #131,112
  • May 5, 2009 12:44am May 5, 2009 12:44am
Quoting jack.canadia
Its called GBPUSD. I wont be posting, and its not my thread but you do need vouchers to post. Its an attempt to eliminate alot of uneccessary posts.

That way people with a bit more experience can post freely and hopefully help others. I personally am open to an private messages about my posts or methods. I also started a blog.

that sounds good.... i dont know how to post charts, or I would more often. I agree with the sentiment though. I miss pipland and a few others
  • #131,113
  • May 5, 2009 12:59am May 5, 2009 12:59am
i dont know how to post and draw a chart
so i will just watching your analysis guys.

goodluck on your trade
- Always pray on your trading - God know the best for everyone
  • #131,114
  • May 5, 2009 1:08am May 5, 2009 1:08am
Quoting kingindian
i dont know how to post and draw a chart
so i will just watching your analysis guys.

goodluck on your trade

it's not a good reason for hiding your analysis common share it
if you can't post a chart pic , u can depict it in words
  • #131,115
  • May 5, 2009 1:23am May 5, 2009 1:23am
Quoting eychenz
it's not a good reason for hiding your analysis common share it
if you can't post a chart pic , u can depict it in words
i can draw animals and people and a host of other things... but the main things I draw on charts are fib levels and trendlines...

right now (short term, for all you long term enthusiasts who might fail to realize trading is often about linking your personality and patience profile with timeframes and trends that just are what they are), its bouncing off a small upper tl from 1/5046 area on 15 & 5 min charts... thats what i see... call me blind if you want to
  • #131,116
  • May 5, 2009 1:25am May 5, 2009 1:25am
Quoting smartalicus
i can draw animals and people and a host of other things... but the main things I draw on charts are fib levels and trendlines...

right now (short term, for all you long term enthusiasts who might fail to realize trading is often about linking your personality and patience profile with timeframes and trends that just are what they are), its bouncing off a small upper tl from 1/5046 area on 15 & 5 min charts... thats what i see... call me blind if you want to
hummm , absolutely no idea
by the way thnx for sharing
  • #131,117
  • May 5, 2009 1:27am May 5, 2009 1:27am
Quoting eychenz
it's not a good reason for hiding your analysis common share it
if you can't post a chart pic , u can depict it in words
ok i will try to explain
but please not to follow it if you in doubt
in TF 15, it shown trend will going down
(if you want to sell, just stay with your computer)

in TF D1 looks like it want to goes up (but i think will happened not in short time , minutes i mean)

now im placing some sell from 1.5 and 1.49. just targetting arround 1.498X

also i place some buy arround 1.48 for a long shot.


thats my newbie analysis
- Always pray on your trading - God know the best for everyone
  • #131,118
  • May 5, 2009 1:32am May 5, 2009 1:32am
hi, i'm short @ 5015 sl 5035, target would be around 4950 if brakes than 4900. i think there is a need for retrace and only then it can climb back again. if won't break 4980, it could go back and try to reach 5060
  • #131,119
  • May 5, 2009 1:47am May 5, 2009 1:47am
Quoting Endrju
hi, i'm short @ 5015 sl 5035, target would be around 4950 if brakes than 4900. i think there is a need for retrace and only then it can climb back again. if won't break 4980, it could go back and try to reach 5060

looks like it wants to break 5046 now
  • #131,120
  • May 5, 2009 2:21am May 5, 2009 2:21am
Quoting Endrju
hi, i'm short @ 5015 sl 5035, target would be around 4950 if brakes than 4900. i think there is a need for retrace and only then it can climb back again. if won't break 4980, it could go back and try to reach 5060
Trade the big picture. Every retrace is an opportunity to buy...at least for now.
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