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Cable Update (GBPUSD)

  • #144,941
  • Jul 9, 2009 7:36pm Jul 9, 2009 7:36pm
since it look like I have the forum board all to myself let`s party
  • #144,942
  • Jul 9, 2009 7:37pm Jul 9, 2009 7:37pm
So you think she'll keep falling Malcomb?
  • #144,943
  • Jul 9, 2009 7:41pm Jul 9, 2009 7:41pm
Quoting malcolmb14
listen i have decided to post less .. there are a few good traders in here and the rest ...well ... lets just end there before someone gets upset

Attachment
Hi Malcolmb,

it will be a shame to see less of you on here as I've found your charts and explanations very helpful and informative.

good luck with the dragon and don't forget about us here

thanks
  • #144,944
  • Jul 9, 2009 7:42pm Jul 9, 2009 7:42pm
Well it's going down, how low it'll go, when it'll turn, will it turn no body knows so don't waste your time trying to second guess it!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,945
  • Jul 9, 2009 7:46pm Jul 9, 2009 7:46pm
The 4hre candle chart look bearish for now.. at least to catch good pip down too 1.6246 wich is the new daily pivot ..
  • #144,946
  • Jul 9, 2009 7:50pm Jul 9, 2009 7:50pm
4 hre chart candle is bearish and the price fall below the darma pivot so my first target is the daily pivot
Attached Image (click to enlarge)
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  • #144,947
  • Jul 9, 2009 7:51pm Jul 9, 2009 7:51pm
I'm glad I stayed up tonite. For a newbie to catch some pips down in the Asian session is cool.

So it pierced my 1.6275 level on the upside - my good ole dayjob prevented me from grabbing that move. But tonite I rode down 30 pips in a very safe trade whilst watching 40 Year Old Virgin. HA!

If this baby closes above the Daily 14EMA by at least 100pips at around 1.6400, I reckon it will break 1.6602 and head/stall at 1.7090 then a sharp move down.

But if doesn't, I expect it to go down south to about to about 1.57 then a sharp move up.

Could this sharp move equal 2000 pips??? What do you think BullBear?
A pip is only worth it if you know how much you risked to earn it
  • #144,948
  • Jul 9, 2009 7:58pm Jul 9, 2009 7:58pm
fasten your seatbelt we are going into a turbulence zone

Market dont know where to go, up or down so best is to go back to support area.
  • #144,949
  • Jul 9, 2009 8:38pm Jul 9, 2009 8:38pm
Can anyone tell me am i correct that GU has formed i diagonal triangle and boucing back to retest the line where it is bad for cable as Eu already foremd earlier and is going down from its high and now making leg c where i will be the seller on rallies
and if i am not wrong we are making last leg in C wave of 1 down or last leg up to make 5 on c where w e should end this one at 1.6450 as should nt be able to touch old high or maximum should touch double top of 1.6600 before heading down to a bear trap

i think it is same pattern as EU earlei and i see down trend for all have started may be we retest close to trend line of diagonal triangle which alreadi did so now should be wave 2 of downtrend and leg c of 2 for start a wave 3 from this next high to gpo to 1.5900 in coming

then make again small high to make 1-2-3-4-5 of three beacre ful guys we are getting into bear trap but we can make some pips fro here as last leg but i stick to sell side because do not want to get into trap

this is wave theory from my personnal view any commands are welcome
bye
skype:redrsoe12346
  • #144,950
  • Jul 9, 2009 8:49pm Jul 9, 2009 8:49pm
Hey guys.
Hope trading's goin' well.

I'm currently in the (long) process of developing & tweaking a new system but need a definition of a sideways/ranging market. I know it's obvious to all but I need a concrete definition for the system to know it's ranging when on a 1hr chart. i.e. pip movement, number of candles etc.

Any advice would be greatly appreciated.
Thanks
  • #144,951
  • Jul 9, 2009 8:50pm Jul 9, 2009 8:50pm
Quoting redrose
Can anyone tell me am i correct that GU has formed i diagonal triangle and boucing back to retest the line where it is bad for cable as Eu already foremd earlier and is going down from its high and now making leg c where i will be the seller on rallies
and if i am not wrong we are making last leg in C wave of 1 down or last leg up to make 5 on c where w e should end this one at 1.6450 as should nt be able to touch old high or maximum should touch double top of 1.6600 before heading down to a bear trap

i think it is same pattern as EU earlei...
wow redrose you sure think alot good work on trying to figure out, but my sugestion is you wil realise that it is imposible to predit so much in advance every move will unfold one by one and you have to analyze everything on everysingle move that will happen and ajust. even if you read about elliot wave you wil notice that they can only predict the next move when one is already acomplish.

what I found that work realy good is the daily weekly pivot you take one at the time like a stair case if it go trough one then next one is the target if not then it goes back to the previous support and on in on..

hope this will help
by the way I dont see any triangle pattern on gbpus
  • #144,952
  • Jul 9, 2009 9:03pm Jul 9, 2009 9:03pm
Quoting grashid
..but power lol...


1.62(Just on)-1.6260 (H4 38.2%) -1.6360(H4 50%)-1.6440 (H4 61.8%)..
step by step by looking 1.65 as my SL setting..
see how BOE bring us..
1.59 is my target (Daily LTL)..then 158-151...then tomorrow may bring us osme clue for under water current

Good luck

Collecting some pips 1.6250-1.6150 back to 38.2% & 23.6% H4....Good luck to all
  • #144,953
  • Edited 9:17pm Jul 9, 2009 9:05pm | Edited 9:17pm
Quoting woodlybog
So you think she'll keep falling Malcomb?

support on s&p has to give

there are 2 high volume dojis on daily so we may see up day or 2 . Next week after g8 we may start sliding again , or it could be that buyers are trying to push off support but sellers are hitting the indexes

as long as 1.6500 hold weekly is looking weak
Blogging daily now at www.volume.zone
  • #144,954
  • Jul 9, 2009 9:07pm Jul 9, 2009 9:07pm
Quoting Yogi
Hi Malcolmb,

it will be a shame to see less of you on here as I've found your charts and explanations very helpful and informative.

good luck with the dragon and don't forget about us here

thanks
If I see soemthing good Gu will post.

I have always traded the beast ... just went the market went sideways there gu was easier to trade. GJ dropped 100 pip asia ... gu hardly anything
Blogging daily now at www.volume.zone
  • #144,955
  • Jul 9, 2009 9:08pm Jul 9, 2009 9:08pm
Quoting vlady1974
I'm glad I stayed up tonite....
the big drop may not come till later this summer. I was thinking October but may be sooner. Maybe even end July
Blogging daily now at www.volume.zone
  • #144,956
  • Jul 9, 2009 9:15pm Jul 9, 2009 9:15pm
Quoting malcolmb14
support on s&p has to give

there are 2 high volume dojis on daily so we may see up day or 2 . Next week after g8 we may start sliding again

as long as 1.6500 hold weekly is looking weak
we opened a lil above day open and then dropped hard, so my guess is something close to 1.61 to complete the 1 hour macd move
  • #144,957
  • Jul 9, 2009 9:16pm Jul 9, 2009 9:16pm
Hi LeJimeuw

I am using pivot Murray maths macd cci rsi ssto wave theory candle pattern gann box and candle pattern to make the confirmation

i like i said earlier i am in long at 1.600 my tp was 1.6350 which tested yesterday if you strict to rule of wave and fibo according to rule
i think it is very good and simple to use it we only make it and do not undersstand rpoperly it tool me 10 years now to understand this rule man
but in stock market now testing on forex getting though it hope i am not guiding it is just personnal view i use pivot too thanks for helping and i am sure that we are in down trend as week candlle has made lower low and higher low too let us this candle today and wil confirm down trend on weekly chart to wave 5
where we just started last week
anyway more assistance required on wave theory as still a learner
  • #144,958
  • Jul 9, 2009 9:23pm Jul 9, 2009 9:23pm
Great jog Grashid

Your intention is like mine same view it should head north for another day and then slowly slowly down but this will be wave three on down trend my tp for this end wave is near you 1.5800 should break the support of daily trendline and it will be a reversal pattern

where we will be confused and get wrong idea they will get some sl same as dragon down sharply but should go up a little more but i will be the seller on this rally no more longs as will be high risk low return which i am againt my theory better to play safe before anything else happen let us see what candlestick will show this friday
and will get the answer
  • #144,959
  • Jul 9, 2009 9:23pm Jul 9, 2009 9:23pm
Good Morning Guys...

Looks like 6286 is holding up...We need a break to bring us to the daily pivot...If we go down and break 6200 we may reverse...If not we may still go up some more...
Never Stop Learning...
  • #144,960
  • Jul 9, 2009 9:27pm Jul 9, 2009 9:27pm
Quoting forexlion
we opened a lil above day open and then dropped hard, so my guess is something close to 1.61 to complete the 1 hour macd move

I am on gj 120 pip drop asia .. maybe 200 if she moves down to 150
Blogging daily now at www.volume.zone
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