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Cable Update (GBPUSD)

  • #133,781
  • May 21, 2009 4:45pm May 21, 2009 4:45pm
Quoting agent_smith
looks to me like a typical bump and run pattern
see similar chart: http://thepatternsite.com/barrt.html
immediate target is around 5700.
anyone disagree ?

btw, that is great patterns site
Agent - very useful I mist say - I never knew about it at all - I think it would be a good idea for people to share new and unusual information on trading - thanks agent!
  • #133,782
  • May 21, 2009 4:51pm May 21, 2009 4:51pm
Quoting scali
Hi Bull Bear,

I am new here and I have VTTrader2 also. Could you tell me what indicator do you have in the bottom of your chart?

Thank you and good luck,
The indicator you speak of is not an indicator in VT2, its an automated trading system i built with many hours invested. The black line at the bottom of the chart is the P&L of all trades in the 5 mins chart for the last 5000 bars.

I know that you and Banda are using VT, you guys might want to look at this forum http://forum.vtsystems.com/index.php? Its useful if you want to explore trading systems. You can also request to have your system built for you if you have trading rules of your own or test other system posted. Make sure you do your own testing and be careful.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,783
  • May 21, 2009 4:55pm May 21, 2009 4:55pm
Quoting thirtypips
Thanks GlobalMacro
You're welcome.
Hear the music before the song is over ...
  • #133,784
  • May 21, 2009 4:55pm May 21, 2009 4:55pm
Quoting jibleanu
i am sorry that i pissed you off.but if you want to show my charts give me an e-mail.
Mate get a reality check. No thanks
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,785
  • May 21, 2009 5:06pm May 21, 2009 5:06pm
Quoting agent_smith
looks to me like a typical bump and run pattern
see similar chart: http://thepatternsite.com/barrt.html
immediate target is around 5700.
anyone disagree ?

btw, that is great patterns site
Agent - very useful I must say - I never knew about it at all - I think it would be a good idea for people to share new and unusual information on trading - thanks agent!
  • #133,786
  • May 21, 2009 5:24pm May 21, 2009 5:24pm
Quoting jibleanu
you are right so first all newbies should open a pre-market data from cnbc.as i am using them ,then look at the 4h chart and daily.if the trend just broke the 100 ma on daily chart then the trend is up .but be aware that if you are working on daily charts you should work with sl of over 200 pips and more and tp as well in order to have big risk-reward ratio.

for all beginners you should try to read "How can you beat the odds in forex market "by Igrouk and "Trades for beginners" ,these books are free to download over net.this 2 books should...
Thank you for your information, at least this explains how you trade and sound interesting, look like that system is reliable in a way.

All the best
Many happy pips returned ...
  • #133,787
  • May 21, 2009 5:27pm May 21, 2009 5:27pm
This one eyed monster does not want to stop for a breather or turn and retrace. I'm now waiting for a pull back to buy...... Its taken out many layers of resistance moving up. The final stop and very strong level would be 1.6000 (psy level) or 1.6040 (38.2% of the 2.0154 to 1.3502).
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,788
  • Edited 5:44pm May 21, 2009 5:27pm | Edited 5:44pm
Quoting EricB
Agent - very useful I must say - I never knew about it at all - I think it would be a good idea for people to share new and unusual information on trading - thanks agent!
You're welcome. I found the pattern site very informative too.
Let's hope this pattern works out - and bloody cable finally goes bloody down !!!!
  • #133,789
  • May 21, 2009 6:16pm May 21, 2009 6:16pm
Quoting mike_85
I'm done for the week. Only 6 trades this week.

1) L 1.5179 - 1.5729 (+550)
2) L 1.5345 - 1.5729 (+384)
3) L 1.5509 - 1.5729 (+220)
4) L 1.5494 - 1.5729 (+235)
5) L 1.5792 - 1.5729 (-63)
6) S 1.5724 - 1.5706 (+18 - Trade still open)

Total = 1,325 (Excl. last trade)

All done using simple breakouts on 4 hour chart.

Cheers and happy trading.
Amazing target you've got
Many happy pips returned ...
  • #133,790
  • May 21, 2009 6:48pm May 21, 2009 6:48pm
Another thing that I missed this week - UK/France and Germany are selling gilt bonds to raise debt - UK sells today 22nd May - its obvious they would want an atmosphere where they increase currency valuations for these events to give impression yeilds can be low for potential buyers - but I would imagine they wouldnt want their currencies to appreciate at such a rapid stage if it wasnt for this. Next week should be different.
  • #133,791
  • May 21, 2009 7:24pm May 21, 2009 7:24pm
Quoting mike_85
I'm done for the week. Only 6 trades this week.

1) L 1.5179 - 1.5729 (+550)
2) L 1.5345 - 1.5729 (+384)
3) L 1.5509 - 1.5729 (+220)
4) L 1.5494 - 1.5729 (+235)
5) L 1.5792 - 1.5729 (-63)
6) S 1.5724 - 1.5706 (+18 - Trade still open)

Total = 1,325 (Excl. last trade)

All done using simple breakouts on 4 hour chart.

Cheers and happy trading.
Would you like to share your system, please...
  • #133,792
  • May 21, 2009 8:14pm May 21, 2009 8:14pm
Quoting Bull_Bear
This one eyed monster does not want to stop for a breather or turn and retrace. I'm now waiting for a pull back to buy...... Its taken out many layers of resistance moving up. The final stop and very strong level would be 1.6000 (psy level) or 1.6040 (38.2% of the 2.0154 to 1.3502).
GU moves is out of control, 1.6 will be her next stop eventually.. Lets looking for the pull back together.. LOL...
BTW, i think GU will not close below 1.5800,because last time that point act as a resistance before the drop down, what do u people think?
  • #133,793
  • May 21, 2009 8:15pm May 21, 2009 8:15pm
It will reverse at 1.51

You need to short at 1.52

We might see 1.51 again when it hits 1.53

It will reverse at 1.54

It will drop sharply at 1.55

It will go down at 1.56

Short at 1.57

It will reverse at 1.58

It will reverse at 1.59

It will reverse at 1.60

It will reverse at 1.61

It will reverse at 1.62

It will reverse at 1.63

It will reverse at 1.64

It will reverse at 1.65

It will reverse at 1.66

You will get a margine call

You will be f###ed up.



Don't trust in anyone
When I buy it, it moves down. When I sell it, it moves up.
  • #133,794
  • May 21, 2009 8:50pm May 21, 2009 8:50pm
Good Morning Guys!

There is a bearish divergence on the the H1. I may sell when MACD closes...Hope it will give me 50pips....
Never Stop Learning...
  • #133,795
  • May 21, 2009 8:55pm May 21, 2009 8:55pm
This month cable up 1000 pips, and on this week only it contribute 700 pips gain. Its seem yesterday cable drop 250 pips in less than an hour don't stop cable up move. Any ideas, whats going on.
  • #133,796
  • May 21, 2009 9:07pm May 21, 2009 9:07pm
Quoting pujolshomerun
It will reverse at 1.51

You need to short at 1.52

We might see 1.51 again when it hits 1.53

It will reverse at 1.54

It will drop sharply at 1.55

It will go down at 1.56

Short at 1.57

It will reverse at 1.58
Best post I've read all month! Glad some people see the glory of nonsense in motion.... MAKE MONEY!!!
It will reverse at 1.59

It will reverse at 1.60

It will reverse at 1.61

It will reverse at 1.62

It will reverse at 1.63

It will reverse at 1.64

It will reverse at 1.65

It will reverse...

Best post I've seen all month!!!! At least someone is paying attention to the glorious nonsense!!!! "trade what you 'see'".... MAKE MONEY!!!!!
  • #133,797
  • May 21, 2009 9:09pm May 21, 2009 9:09pm
1.59 and then down thats my call and never hit 1.60
  • #133,798
  • May 21, 2009 9:42pm May 21, 2009 9:42pm
Quoting arif_endro
This month cable up 1000 pips, and on this week only it contribute 700 pips gain. Its seem yesterday cable drop 250 pips in less than an hour don't stop cable up move. Any ideas, whats going on.
the bank hold too much dollar and start to invest in other currencies (stimulus package at work)
  • #133,799
  • May 21, 2009 10:13pm May 21, 2009 10:13pm
this my trade level

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support resistance

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  • #133,800
  • May 21, 2009 11:03pm May 21, 2009 11:03pm
Quoting ben10
1.59 and then down thats my call and never hit 1.60
I do hope cable didn't touch 1.6 level, but 1.6 is only 100 pips away from recent top. Who knows next.
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