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Cable Update (GBPUSD)

  • #140,541
  • Jun 26, 2009 10:27am Jun 26, 2009 10:27am
Ipips how is it going wiz u mate
  • #140,542
  • Jun 26, 2009 10:28am Jun 26, 2009 10:28am
Well I for one have had enough of watching this tug of war. Whether it hits my final target or my SL, an IMMENSELY profitable week....

Have a great weekend folks and MANY green pips to all...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 26 KB
Ghost Rider - WWTBMD?
  • #140,543
  • Jun 26, 2009 10:30am Jun 26, 2009 10:30am
Quoting roreki
Ipips how is it going wiz u mate
Hmmm.. I'm still holding on to my long but have moved S/L to B/E. Not much movement from bulls & bears, so could go either way. Both got no strength..
  • #140,544
  • Jun 26, 2009 10:31am Jun 26, 2009 10:31am
Quoting albchr
Well I for one have had enough of watching this tug of war. Whether it hits my final target or my SL, an IMMENSELY profitable week....

Have a great weekend folks and MANY green pips to all...
yap probably will sayonara to 1.64xx welcome 1.68xx
what do you think ???

have a great weekend too
  • #140,545
  • Jun 26, 2009 10:33am Jun 26, 2009 10:33am
Quoting iqyusan
Don't trust me.....I don't know what i'm doin'
Thank You
  • #140,546
  • Jun 26, 2009 10:39am Jun 26, 2009 10:39am
1HR chart shows neg divergence as it now touches 6514 pivot area. Going short here and will hold over the weekend; expect gap down on Sun opening.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 14 KB
  • #140,547
  • Jun 26, 2009 10:45am Jun 26, 2009 10:45am
Quoting joemiami
1HR chart shows neg divergence as it now touches 6514 pivot area. Going short here and will hold over the weekend; expect gap down on Sun opening.
  • #140,548
  • Jun 26, 2009 10:51am Jun 26, 2009 10:51am
If anyone sees differently, please give us ur 2 cents worth on your view. Im always open to hearing the other side of things...
  • #140,549
  • Jun 26, 2009 10:52am Jun 26, 2009 10:52am
Watch the 4-h close in about 8 minutes at 12pm EST .. Already have a doji and could form a second one.

This will be bearish and may catalyze yet another fall toward 6200
  • #140,550
  • Jun 26, 2009 10:56am Jun 26, 2009 10:56am
Quoting jack.canadia
Watch the 4-h close in about 8 minutes at 12pm EST .. Already have a doji and could form a second one.

This will be bearish and may catalyze yet another fall toward 6200
  • #140,551
  • Jun 26, 2009 10:58am Jun 26, 2009 10:58am
Quoting jack.canadia
Watch the 4-h close in about 8 minutes at 12pm EST .. Already have a doji and could form a second one.

This will be bearish and may catalyze yet another fall toward 6200
I have a habit of forgetting the basics. Thanks for the reminder my friend. Been up all night following news on MJ and my mind is not working 100%.
You've got to be IN IT to WIN IT!
  • #140,552
  • Jun 26, 2009 11:02am Jun 26, 2009 11:02am
Quoting jack.canadia
Watch the 4-h close in about 8 minutes at 12pm EST .. Already have a doji and could form a second one.

This will be bearish and may catalyze yet another fall toward 6200

Hheermmmm
the 4h candles. don't know how reliable they are. I'm in Central Europe (includes all of Europe appart from UK) and since we're 6 hours b4 NY eastern time, the 4h candle here closes in 2 hours, and the 4h candle in UK (being 1 hour behind us) closes in 3 hrs. Nevermind Japs and Russians and far east, middle east Australia etc. The 4h candles in all these places are different, unless u r 4 hours appart from each-other.

What do u make of that. What's ur opinion Jack or any1 else?
  • #140,553
  • Jun 26, 2009 11:04am Jun 26, 2009 11:04am
Quoting jack.canadia
Watch the 4-h close in about 8 minutes at 12pm EST .. Already have a doji and could form a second one.

This will be bearish and may catalyze yet another fall toward 6200
Hmm .. well it did close below 6500 on my broker (FXCM) and mt4 charts .. formed a funny looking hammer on the hourly.

No thoughts really
  • #140,554
  • Jun 26, 2009 11:05am Jun 26, 2009 11:05am
Quoting skerdi-meta
Hheermmmm
the 4h candles. don't know how reliable they are. I'm in Central Europe (includes all of Europe appart from UK) and since we're 6 hours b4 NY eastern time, the 4h candle here closes in 2 hours, and the 4h candle in UK (being 1 hour behind us) closes in 3 hrs. Nevermind Japs and Russians and far east, middle east Australia etc. The 4h candles in all these places are different, unless u r 4 hours appart from each-other.

What do u make of that. What's ur opinion Jack or any1 else?
The only candles that close at the same time all around the world are the 1-h candles .. I have stayed consistent using charts that have GMT .. the end of the forex day for me is at 00:00GMT, or 8pm EST.
  • #140,555
  • Jun 26, 2009 11:09am Jun 26, 2009 11:09am
Quoting Geppyg
Covered 520 530 540......490 480....

Lets see 410 ,280

Good luck all

GeppyG


Stops at 1.6800
Cant be asked any more.....Wanna fresh weekend....all trades at break even... took profit on 480 and 490...all other at be ..

Good Luck....

GeppyG
Let Price determine your future!
  • #140,556
  • Jun 26, 2009 11:11am Jun 26, 2009 11:11am
Quoting macd
where did you get this indicator from?? the one which show the levels?

thanks

Those are murrey math lines.

4/8 is pivot
8/8 is a place to reverse , if it goes above this then it should reverse off +1/8 ,

ranging is 3/8 to 5/8 lines

each 1/8th is called an octave

Murray mathlines are based on gann squares. With these on your chart you do not really need to plot fibs

note on the 4 hour the 8/8 is resistance and the 2/8 support. Prices works between these lines . It is really like a thing of magic. i do not plot fibs anymore.

Set the P to 64 (this is 64 period for the gann square) set mm period to 0 (this will show the murrey mathlines for the time frame you are looking at). I have these on a 5 min charts and set the MM period to 15. This show me the mml for the 15 min time frame on a 5 min charts

Attached File(s)
File Type: mq4 Murrey_Math_Line_X.mq4   13 KB | 281 downloads


Attached Image (click to enlarge)
Click to Enlarge Name: chf01.gif Size: 20 KB
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  • #140,557
  • Jun 26, 2009 11:17am Jun 26, 2009 11:17am
Quoting malcolmb14
Those are murrey math lines.

4/8 is pivot
8/8 is a place to reverse , if it goes above this then it should reverse off +1/8 ,

ranging is 3/8 to 5/8 lines

each 1/8th is called an octave

Murray mathlines are based on gann squares. With these on your chart you do not really need to plot fibs

note on the 4 hour the 8/8 is resistance and the 2/8 support. Prices works between these lines . It is really like a thing of magic. i do not plot fibs anymore.

Set the P to 64 (this is 64 period for the gann square) set mm period to...
here is the 5m in chart for GU with the 15 min mml plotted.

the 4/8 is called pivot . Note pricing bouncing off this level.

Attached Image (click to enlarge)
Click to Enlarge Name: chf01.gif Size: 20 KB
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  • #140,558
  • Jun 26, 2009 11:18am Jun 26, 2009 11:18am
Okay, i think i shall call it a day too. It's been a good trading week for me and I hope many others too. Thanks to everyone here for their contribution and insight.

Would like to enter some positions but I've been recalled to the army for training for the whole of next week, so I guess it won't be wise to leave open positions.

Going to sleep now~
  • #140,559
  • Jun 26, 2009 11:19am Jun 26, 2009 11:19am
Malcomb,

So the 1/8 mm isn't really a weak place to reverse because thats the text on mine and GY has done a reverse twice there lately. Maybe I need to change the settings to the 15 on the 5min.
  • #140,560
  • Jun 26, 2009 11:20am Jun 26, 2009 11:20am
Quoting allserene
yeah - short term, I reckon you are right - i reckon its agood long term long but the stock mkt is taking a breather and the cable/euro are torpid - so risk reward of leaving the long isnt there

I will wait for a dip and get back in - or as you say - short it if it goes north without DOW support

this range for alomost 1 month seems like another accumulation phase. I think we may pop up into 1.7000 test before we see any major signs of reversal .
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