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Cable Update (GBPUSD)

  • #134,061
  • May 24, 2009 5:11pm May 24, 2009 5:11pm
Quoting stallionez
Got it, thanks. will now get my head around how this works!
juz follow the instruction on the right..n good luck with it..
  • #134,062
  • May 24, 2009 5:14pm May 24, 2009 5:14pm
Quoting Reznik
Enter a long on friday, and banked 90 pips... But we enterin a channel, so I sit and watch. Goodluck!!
cud u pls explain how the channel works
  • #134,063
  • May 24, 2009 5:16pm May 24, 2009 5:16pm
What timeframe do you trade it on??? It looks a good system froma brief eyeball
  • #134,064
  • May 24, 2009 5:18pm May 24, 2009 5:18pm
Cable has been flirting with the upper trend channel line for the past 2 sessions in a row. 1.5993 will be this session's rendesvous with the channel line.
Will they ever meet again for a 3rd time?
Attached Image
Hear the music before the song is over ...
  • #134,065
  • May 24, 2009 5:23pm May 24, 2009 5:23pm
Quoting stallionez
What timeframe do you trade it on??? It looks a good system froma brief eyeball
15m n above..easy to use..straight away can see n call your own entry..whatever your system is,SL n TP is important..emm,TP is not very important..bcoz im greedy..hhahaha
  • #134,066
  • May 24, 2009 5:23pm May 24, 2009 5:23pm
Hi,

has anybody noticed the volumes 17-18 min ago? Are 338 units/5 min a normal volume for this hour?

Wish a good trading week!
  • #134,067
  • May 24, 2009 5:25pm May 24, 2009 5:25pm
Quoting dRunKen aRmy
15m n above..easy to use..straight away can see n call your own entry..whatever your system is,SL n TP is important..emm,TP is not very important..bcoz im greedy..hhahaha

Good stuff, i like it. How do you interpret the OsMA in your entry?
  • #134,068
  • May 24, 2009 5:27pm May 24, 2009 5:27pm
Quoting GlobalMacro
Cable has been flirting with the upper trend channel line for the past 2 sessions in a row. 1.5993 will be this session's rendesvous with the channel line.
Will they ever meet again for a 3rd time?
well,hard to say..both is on holiday..
  • #134,069
  • May 24, 2009 5:32pm May 24, 2009 5:32pm
Quoting stallionez
Good stuff, i like it. How do you interpret the OsMA in your entry?
owh..i'm not using it in my chart..i replaced it with MACD n stoch..
only the thv chart i use for my trade..then i add the MA's n spudfibo in my own trading system..sorry..
  • #134,070
  • May 24, 2009 5:46pm May 24, 2009 5:46pm
Quoting stallionez
Good stuff, i like it. How do you interpret the OsMA in your entry?
the only thing i can explain for it is,the RSI thv is showing u overbought n oversold..for me,as simple as i can..thats the way of my trade..

keep it simple n straight
  • #134,071
  • May 24, 2009 5:47pm May 24, 2009 5:47pm
Quoting dRunKen aRmy
owh..i'm not using it in my chart..i replaced it with MACD n stoch..
only the thv chart i use for my trade..then i add the MA's n spudfibo in my own trading system..sorry..

Have your trading system and have your call (buy/sell signal). Before U search for others opinion. And I use similar indicators as U are... Then keep your fingers crossed and sit.
  • #134,072
  • May 24, 2009 5:52pm May 24, 2009 5:52pm
Quoting Reznik
Have your trading system and have your call (buy/sell signal). Before U search for others opinion. And I use similar indicators as U are... Then keep your fingers crossed and sit.
did i serach for opinion here?
  • #134,073
  • May 24, 2009 6:15pm May 24, 2009 6:15pm
Quoting dRunKen aRmy
the only thing i can explain for it is,the RSI thv is showing u overbought n oversold..for me,as simple as i can..thats the way of my trade..

keep it simple n straight
In 4 hour chart, RSI or Stoch overbought means, around 100 pips variation.
Thats all saying, GBPUSD may go to 1.6040 something. But take care, GBP Holiday, USD Holiday.
ABCD..
  • #134,074
  • May 24, 2009 6:23pm May 24, 2009 6:23pm
Quoting sreeprakash
In 4 hour chart, RSI or Stoch overbought means, around 100 pips variation.
Thats all saying, GBPUSD may go to 1.6040 something. But take care, GBP Holiday, USD Holiday.

don't get your mean. overbought and will go up ?
  • #134,075
  • May 24, 2009 6:31pm May 24, 2009 6:31pm
Quoting sreeprakash
In 4 hour chart, RSI or Stoch overbought means, around 100 pips variation.
Thats all saying, GBPUSD may go to 1.6040 something. But take care, GBP Holiday, USD Holiday.
yep..
  • #134,076
  • May 24, 2009 6:38pm May 24, 2009 6:38pm
Quoting John Lo
don't get your mean. overbought and will go up ?
Ya, overbought and oversold is useless many times.
When a bad news comes out and gbpusd go down 300 pips, and OB/OS freeze there.. If go up 300 pips freeze above.

I experiencing, on 5 minute chart, 10-20 pips variation.
On 1 hour chart, 20-30 variation.
On 4 hour chart, 100 pips variation.
ABCD..
  • #134,077
  • May 24, 2009 6:48pm May 24, 2009 6:48pm
Quoting John Lo
don't get your mean. overbought and will go up ?
use this osma which been ask before..you'll see what he mean..
Attached File(s)
File Type: mq4 OsMA THV.mq4   6 KB | 542 downloads
  • #134,078
  • May 24, 2009 6:52pm May 24, 2009 6:52pm
Quoting dRunKen aRmy
use this osma which been ask before..you'll see what he mean..
ABCD..
  • #134,079
  • Edited 6:56pm May 24, 2009 6:55pm | Edited 6:56pm
Quoting sreeprakash
Edit: There is no rule if pair OB, need to go down and vice versa.
All the news, banks, government, conditions (political, eco, etc.) and big guys running market.

Edit again: I am using channels, but there is no rule, if touch top channel pair need to go down and touch bottom channel and vice versa/
ABCD..
  • #134,080
  • May 24, 2009 10:01pm May 24, 2009 10:01pm
here is support resistance

Attached Image (click to enlarge)
Click to Enlarge Name: forex.gif Size: 15 KB


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support resistance

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