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Cable Update (GBPUSD)

  • #132,341
  • May 14, 2009 12:47pm May 14, 2009 12:47pm
Quoting kingindian
would like to see your trade
i must learn much from trader like you and the other
Ok Ill keep that in mind and start compiling the thread tonight. Its no holy grail but it work for me.

I'll post in here later when I get it going. I dont have time now.
  • #132,342
  • May 14, 2009 12:59pm May 14, 2009 12:59pm
Quoting jack.canadia
I watch the 1hour, 4 hour and daily. The 1-hour gives me the most information but the 4-hour and daily are the most reliable.

If you are interested in my methods I would gladly open a thread in the journals section and post by post explain it.
Very kind offer. If you will do it I will suscribe :-). I guess you will have a good demand from this thread.

Normaly I am an invisible reader here because my trades a not so important for the majority of the people here. I am trading on 1 day TF (since 8 years). And I also do not have a super duper Trading System. Only Support and Resistance from the 1 Month Timeframe and some Pivot Lines. But I like to see how you trade. I am sure I can learn someting for my trading.

Before I forgot: my english is very bad so when someone have some problems to understand what I write down here pls ask.

Well, see you on your journal jack :-)
  • #132,343
  • May 14, 2009 1:07pm May 14, 2009 1:07pm
wow.. how kind of u jack.. appreciate it very much..
  • #132,344
  • May 14, 2009 1:07pm May 14, 2009 1:07pm
Quoting Heikken
May be I'm wrong... but I think she is going more down now....

I guess we were both right!
You got you short to 1.5055 and I got my long to 1.5180.
I was 5 pips away from having my S/L being taken out this morning.

Out of the market at the moment as I can't see a clear direction.
It's looking like a short to at least 1.5050 I'm but waiting for the next H4 bar before deciding.

  • #132,345
  • Edited 1:33pm May 14, 2009 1:23pm | Edited 1:33pm
Quoting forex_sake
I guess we were both right!
You got you short to 1.5055 and I got my long to 1.5180.
I was 5 pips away from having my S/L being taken out this morning.

Out of the market at the moment as I can't see a clear direction.
It's looking like a short to at least 1.5050 I'm but waiting for the next H4 bar before deciding.

I don't trade on what I expect..... I trade what I see

Actualy, I took long again went up along with you since the price turned up above weekly MA (Green).... at 1.5155
Attached Image (click to enlarge)
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  • #132,346
  • May 14, 2009 2:13pm May 14, 2009 2:13pm
hi guys, does any one know the relationship between the cable and the price of crude oil; if there is any

cheers
  • #132,347
  • May 14, 2009 2:26pm May 14, 2009 2:26pm
Quoting Ozowara
hi guys, does any one know the relationship between the cable and the price of crude oil; if there is any

cheers
there not correlated exactly but crude up weakens dollar
  • #132,348
  • May 14, 2009 2:33pm May 14, 2009 2:33pm
Quoting PipLand
there not correlated exactly but crude up weakens dollar
If I may.

Crude oil is traded globally in USD, when USD is weak, the cost of oil increases, when the USD is strong the cost of oil goes down. Now, here's a fundamental view (I'M NOT A FUNDAMENTAL TRADER). The US does not want $5/gal gas again this summer. Otherwise, it might show the US that Obamanomics is not holding out for what they preached. So, Bernake earlier in the week says the US wants a stronger USD, Oil reserves are low and demand is high. So the ecomonic theory of supply and demand holds, low supply, high demand, high price. Since the US cannot manipulate the supply of oil nor control the demand, the only other item they CAN do is MANIPULATE the value of the dollar. US Buys USD, value goes up, driving the cost of oil down, gas stays down over the summer. Everyone dances a jig and praises Obamanomics for his golden answers.
Just digging in the trenches like everyone else!
  • #132,349
  • May 14, 2009 2:45pm May 14, 2009 2:45pm
H&S on the hourly TP 1.495??

Anyone else see it?
  • #132,350
  • May 14, 2009 2:49pm May 14, 2009 2:49pm
Quoting eohater
If I may.

Crude oil is traded globally in USD, when USD is weak, the cost of oil increases, when the USD is strong the cost of oil goes down....
Hey EO, interesting theory thanks for sharing, def makes sense I dont think you guys or us (UK) could withstand huge oil prices this summer, it would be a killer! what do you think about the H&S on cable? im short at 5235
  • #132,351
  • May 14, 2009 2:50pm May 14, 2009 2:50pm
Quoting EricB
H&S on the hourly TP 1.495??

Anyone else see it?
Yes, there's a definite H&S. I'm hoping it will climb to 1,5250 again to short.
Doh! I didn't mean to do that.
  • #132,352
  • May 14, 2009 2:51pm May 14, 2009 2:51pm
Quoting EricB
H&S on the hourly TP 1.495??

Anyone else see it?
Not yet. Still very bullish. H&S pattern will be completed only if it trades below 1.5070. Before that go with the flow.
Hear the music before the song is over ...
  • #132,353
  • May 14, 2009 2:52pm May 14, 2009 2:52pm
Quoting EricB
H&S on the hourly TP 1.495??

Anyone else see it?
Yes it looks perfect to me
  • #132,354
  • May 14, 2009 2:55pm May 14, 2009 2:55pm
Quoting EricB
H&S on the hourly TP 1.495??

Anyone else see it?
Yes. This is another confirmation. By my count, it's wave c down.
  • #132,355
  • May 14, 2009 2:55pm May 14, 2009 2:55pm
I see it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
  • #132,356
  • May 14, 2009 2:56pm May 14, 2009 2:56pm
Quoting imbiber
I see it.
  • #132,357
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Went short @ 52.45 ..,,, really hope this f***ing h&s works out.
Personally, I dont think it's will,, since I did take the trade.
Nothing works out when I take a trade, but it always does when I dont take the trades.

That's some sick fetish the market has. Im not even a submisive type (well now that I come 2 think of that, I might be)
  • #132,358
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Quoting imbiber
I see it.
that's a good one.
Hear the music before the song is over ...
  • #132,359
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Quoting eohater
If I may.

Crude oil is traded globally in USD, when USD is weak, the cost of oil increases, when the USD is strong the cost of oil goes down....
good answer bro!...i learned a lot from it, makes sense
  • #132,360
  • May 14, 2009 3:00pm May 14, 2009 3:00pm
Quoting imbiber
I see it.
nice visual bro! i see it too
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