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Cable Update (GBPUSD)

  • #143,461
  • Jul 7, 2009 2:17am Jul 7, 2009 2:17am
by my understanding this is just a retrace, the trend seem to be still down sloping.
  • #143,462
  • Jul 7, 2009 2:31am Jul 7, 2009 2:31am
Quoting poisonivy0
by my understanding this is just a retrace, the trend seem to be still down sloping.
May be you are correct Poi
Gold is Money but Money is not Gold
  • #143,463
  • Jul 7, 2009 2:32am Jul 7, 2009 2:32am
In m30 bullish engulfing lines are there
so cable is up
  • #143,464
  • Jul 7, 2009 2:35am Jul 7, 2009 2:35am
I am short again on cable at 1.6235 and will add again if it goes higher will swing trade this till it gets to my target...

GeppyG

This is just a bull trap imho nothing else.....

I am going against the long croud.....

It seems like also that cable is going up on very low volume and this generally means if I am not right that..... We could see a fall in New york...

Lets see
Let Price determine your future!
  • #143,465
  • Jul 7, 2009 2:36am Jul 7, 2009 2:36am
Up only if it can breathe above the daily pivot line.
  • #143,466
  • Jul 7, 2009 2:37am Jul 7, 2009 2:37am
Quoting poisonivy0
by my understanding this is just a retrace, the trend seem to be still down sloping.
well your down trend is my uptrend
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  • #143,467
  • Jul 7, 2009 2:37am Jul 7, 2009 2:37am
Quoting Geppyg
I am short again on cable at 1.6235 and will add again if it goes higher will swing trade this till it gets to my target...

GeppyG

This is just a bull trap imho nothing else.....

I am going against the long croud.....

It seems like also that cable is going up on very low volume and this generally means if I am not right that..... We could see a fall in New york...

Lets see
And what may your swing trade target be, GeppyG?
  • #143,468
  • Jul 7, 2009 2:41am Jul 7, 2009 2:41am
Quoting Ipips
And what may your swing trade target be, GeppyG?
Mate I am still of the view...Target 1.6000 Target 2.5800

:-)
Let Price determine your future!
  • #143,469
  • Jul 7, 2009 2:58am Jul 7, 2009 2:58am
Quoting pipmyride
well your down trend is my uptrend
Both 1H and 4H pointing south according to my chart. maybe wrong just telling u how i see it.
Good luck long traders
  • #143,470
  • Jul 7, 2009 3:01am Jul 7, 2009 3:01am
Quoting poisonivy0
Both 1H and 4H pointing south according to my chart. maybe wrong just telling u how i see it.
Good luck long traders

I see the same as well mate...I dont understand his graph...but all graphs are intepreted in the way you want to think...lol...

There is a straight 4 Hour and 1 hour trend line which it is sticking to right now if it breaks this trend line then may be yes there is a chance that we may got a change in direction...Other wise till then will stick with my trendlines...

I agree with your analysis Poison Ivy..

Good Luck

Also Good luck with your trades to Pipymyride
Let Price determine your future!
  • #143,471
  • Jul 7, 2009 3:04am Jul 7, 2009 3:04am
Quoting pjpipster
Hey Dillinger,

Have you read any of Steve Nisons candles sticks? Just wondering because he has a huge rep as being the best in the business for candles. Be interested to know more about Bulkowski .

If anyone has any books from Steve Nision i WOULD BE STOKED if I could download them.

Cheers.

Pipster in Laos
Hi Pipster,

Nison's good. His first book pretty much is the core of Japanese candle techniques. You don't really need to read all of his books. He made a full time business out of "bringing candlesticks to the West" so churns out a lot of similar materials...

Bulkowski on the other hand teaches every chart formation you need to know in precise detail in one book, including success/failure ratios and TP percentages based on a wide range of market conditions. So, it was created not just to study, but to be a reference book while you're charting and deciding on trades as well.
  • #143,472
  • Jul 7, 2009 3:06am Jul 7, 2009 3:06am
The New 4 Hourly candle has opened exactly on 1.6200.....hmmm

It seems to me that there is not much strength left in cable and evey retracement is being sold by buyers as per Malcomb's Theory...

I am almost sure we will see 6130....

Lets wait and watch..

GeppyG Vs Cable @ 1.6235 Stops at 1.6400
Let Price determine your future!
  • #143,473
  • Jul 7, 2009 3:11am Jul 7, 2009 3:11am
hello
can anyone give referrence material
to read about forex/trading management
always blow up accunt
TQ
  • #143,474
  • Jul 7, 2009 3:12am Jul 7, 2009 3:12am
Quoting LondonTrader
Thank you
Cheers! Let's get some green pips!

The cable's been a nutty bunny this afternoon.

haven't found a good entry point in 3 hours. I'm giving it a rest until NY opens.

I thought for sure after the manufacturing production reports, she'd plunge into the nether world like a flaming chunk of kryptonite.

instead it goes back up to the Daily Pivot!! LOL
  • #143,475
  • Jul 7, 2009 3:19am Jul 7, 2009 3:19am
Quoting Dillinger
Cheers! Let's get some green pips!

The cable's been a nutty bunny this afternoon.

haven't found a good entry point in 3 hours. I'm giving it a rest until NY opens.

I thought for sure after the manufacturing production reports, it would plunge into the nether world like a flaming chunk of kryptonite.

instead it goes back up to the Daily Pivot!! LOL
Good for you!
I was caught on that trick )
  • #143,476
  • Jul 7, 2009 3:21am Jul 7, 2009 3:21am
Quoting aerisriders
hello
can anyone give referrence material
to read about forex/trading management
always blow up accunt
TQ

1. Trade micro lot.
2. Do not risk more than 2% in a day.
3. Take only one trade in one day.

Look for such system in FF.....Do not jump in when you see people posting "I am in short or Long". You should know where you want to get in/out/take profit.

Jumping in and out of a running train is dangerous.

Hope this helps.

Trading Forex is "getting rich slowly" and not "Getting rich overnight"
  • #143,477
  • Jul 7, 2009 3:22am Jul 7, 2009 3:22am
Quoting Geppyg
I see the same as well mate...I dont understand his graph...but all graphs are intepreted in the way you want to think...lol...
lol , i think my "graph" is the simplest posted here !
  • #143,478
  • Jul 7, 2009 3:22am Jul 7, 2009 3:22am
Quoting Dillinger
Cheers! Let's get some green pips!

The cable's been a nutty bunny this afternoon.

haven't found a good entry point in 3 hours. I'm giving it a rest until NY opens.

I thought for sure after the manufacturing production reports, she'd plunge into the nether world like a flaming chunk of kryptonite.

instead it goes back up to the Daily Pivot!! LOL
Feel Exactly what you are saying but just gave me a better entry personally...
Good Luck have a nice day
GeppyG
Let Price determine your future!
  • #143,479
  • Jul 7, 2009 3:23am Jul 7, 2009 3:23am
Quoting pipmyride
lol , i think my "graph" is the simplest posted here !
Brov Didnt mean it in a bad way....
Just a common thing really ..

Have a good day
Let Price determine your future!
  • #143,480
  • Jul 7, 2009 3:34am Jul 7, 2009 3:34am
Profit targets have been set.....
My trades have been set to break even...am gonna have a nap as i aint slept all night....See you all in New york session....

Wake up to 1.6050 Dream come true....hahaha
Let Price determine your future!
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