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Cable Update (GBPUSD)

  • #143,161
  • Jul 6, 2009 11:21am Jul 6, 2009 11:21am
If this fibo level holds we should see a nice drop.
Also, the 15 min stoch shows that the pair is certainly oversold.

However.... this is trading.... ANYTHING is possible!
  • #143,162
  • Jul 6, 2009 11:22am Jul 6, 2009 11:22am
Quoting woodlybog
If this fibo level holds we should see a nice drop.
Also, the 15 min stoch shows that the pair is certainly oversold.

However.... this is trading.... ANYTHING is possible!
Do you mean over bought?
Hero Traders Live to see their Accounts Die!
  • #143,163
  • Jul 6, 2009 11:24am Jul 6, 2009 11:24am
the pa looks a little bit bullish.. still playing around 1.6235 level. i will wait for the breakout or just let it be...
  • #143,164
  • Jul 6, 2009 11:25am Jul 6, 2009 11:25am
Quoting simoneg
Jack, do u see this short going to around 1.6160, and break beyond 1.6130 to lower lows?
im still short 6230 and orders as high as 6260.

if the breakout was real, so far it was, and we break below 6100, then 6010 is my target.

but i like profit so i may close whenever, 6010 is a good target tho
  • #143,165
  • Jul 6, 2009 11:26am Jul 6, 2009 11:26am
Quoting simoneg
Si Si, my 20 pip stop hit...based on 4Hr, will return to my original Long bias at least to 1.6270.
agree...
  • #143,166
  • Jul 6, 2009 11:27am Jul 6, 2009 11:27am
Quote
Do you mean over bought?

Yes.... overbought... thanks
  • #143,167
  • Jul 6, 2009 11:30am Jul 6, 2009 11:30am
Quote
im still short 6230 and orders as high as 6260.

if the breakout was real, so far it was, and we break below 6100, then 6010 is my target.

but i like profit so i may close whenever, 6010 is a good target tho

Jack... you're holding your short down to at least 6100??
Sorry for the confusion
  • #143,168
  • Jul 6, 2009 11:31am Jul 6, 2009 11:31am
I went short on the GU @ 1.6315. 30 minutes prior Euro open.

It was a nice level of resistance for the Asian session/open day. Bounced off that level 4 times on a 5 minute chart.

Really great indicator of a drop, set my SL 15 pip's outside R and watched it tumble.

Total pips were +200 pips..
  • #143,169
  • Jul 6, 2009 11:34am Jul 6, 2009 11:34am
Quoting jack.canadia
im still short 6230 and orders as high as 6260.

if the breakout was real, so far it was, and we break below 6100, then 6010 is my target.

but i like profit so i may close whenever, 6010 is a good target tho
Ok.
Hero Traders Live to see their Accounts Die!
  • #143,170
  • Jul 6, 2009 11:34am Jul 6, 2009 11:34am
hey all this is my first time in forex

  • #143,171
  • Jul 6, 2009 11:38am Jul 6, 2009 11:38am
Quote
hey all this is my first time in forex

WELCOME!

If it's your first time trading... I would HIGHLY recommend demo only for at least 6 months, until you're consistently profitable. Then start with small lots (less gain, but LESS PAIN too).
  • #143,172
  • Jul 6, 2009 11:39am Jul 6, 2009 11:39am
Quoting Mr.x
hey all this is my first time in forex


For 20K I'll teach you a sure fire 100% way to make money


Good luck, it's not easy, but the rewards are worth if, IF you can crack it, be warned though it's a mighty big IF!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,173
  • Jul 6, 2009 11:40am Jul 6, 2009 11:40am
Quoting woodlybog
WELCOME!

If it's your first time trading... I would HIGHLY recommend demo only for at least 6 months, until you're consistently profitable. Then start with small lots (less gain, but LESS PAIN too).

Keep your account SMALL aswell when you go live, better to blow your account small and often than once hugely!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,174
  • Jul 6, 2009 11:41am Jul 6, 2009 11:41am
Quoting Turveyd
For 20K I'll teach you a sure fire 100% way to make money


Good luck, it's not easy, but the rewards are worth if, IF you can crack it, be warned though it's a mighty big IF!!
Many thanks
  • #143,175
  • Jul 6, 2009 11:42am Jul 6, 2009 11:42am
Quote
Keep your account SMALL aswell when you go live, better to blow your account small and often than once hugely!!

YES! In other words.... keep your day job, demo first, and start with a small acount/small lots, ONLY AFTER you demo for a while!
  • #143,176
  • Jul 6, 2009 11:48am Jul 6, 2009 11:48am
Hmmmm....hovering right at my S/R line of 6220. Closed 8 above it last hour, hanging a few below it now.....

Which way will it go....
Ghost Rider - WWTBMD?
  • #143,177
  • Jul 6, 2009 11:50am Jul 6, 2009 11:50am
hello everybody, can anybody teach me how to find h4 support n resistance, daily resistance???
  • #143,178
  • Jul 6, 2009 11:59am Jul 6, 2009 11:59am
Quoting Mr.x
Many thanks

Remember also sadly most people on this forum are losing there ass's so taking everything read with a huge pinch of salt.


Just find the people who are consistently wrong and do the opposite, I'm a good candidate for this
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #143,179
  • Jul 6, 2009 12:10pm Jul 6, 2009 12:10pm
Quoting Mr.x
Many thanks
my advice .. dont use indicators. if you feel the need to use one, use MACD, thats it.
  • #143,180
  • Jul 6, 2009 12:13pm Jul 6, 2009 12:13pm
Quoting jack.canadia
my advice .. dont use indicators. if you feel the need to use one, use MACD, thats it.
say no to indicator
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