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Cable Update (GBPUSD)

  • #148,721
  • Jul 21, 2009 12:31pm Jul 21, 2009 12:31pm
Quoting akumelayu
margin level 243% very dangerous
I use extremely tight stop loss. At the first sign of danger i usually turn tail and flee
  • #148,722
  • Jul 21, 2009 12:31pm Jul 21, 2009 12:31pm
Can someone please explain whats the expected bounce is all about? Or is it just a retracement?
  • #148,723
  • Jul 21, 2009 12:32pm Jul 21, 2009 12:32pm
Quoting UncleSam123
Hey bro can u explain a little how u predict a bounce up? Or is it just a retracement?
if yo look at the chart closely you will see that price already bounce of this pivot this morning. so when it will come back to test it again there is a good probability that it will bounce of again. and then go back for the upper pivot and sse if it will bounce again this one or brake and go for the next one.

second we have a nice trendline that can provide support.
third 6400 is a hole number
fourth we are still in a uptrend so this can be a good opportunity to get back in the up trend.

It doesn't mean that I'M rigth only time will tell. but there is enough reason for me to beleive I have a good long opportunity. so I take it.
  • #148,724
  • Jul 21, 2009 12:33pm Jul 21, 2009 12:33pm
Just looking at the hourlies UncleSam
Disclaimer: Check your 1m charts
  • #148,725
  • Jul 21, 2009 12:33pm Jul 21, 2009 12:33pm
in all minor charts it looks like an inverted cup and handle formation.
  • #148,726
  • Jul 21, 2009 12:35pm Jul 21, 2009 12:35pm
Quoting Lejumeau
if yo look at the chart closely you will see that price already bounce of this pivot this morning. so when it will come back to test it again there is a good probability that it will bounce of again. and then go back for the upper pivot and sse if it will bounce again this one or brake and go for the next one.

second we have a nice trendline that can provide support.
third 6400 is a hole number
fourth we are still in a uptrend so this can be a good opportunity to get back in the up trend.

It doesn't mean that I'M rigth only time will tell. but...
Brother thank you so much for the information. It makes a clearer picture now. I will copy, paste and save that info.
  • #148,727
  • Jul 21, 2009 12:38pm Jul 21, 2009 12:38pm
Quoting UncleSam123
Can someone please explain whats the expected bounce is all about? Or is it just a retracement?
I mean by bounce that price will reverse direction at a certain level it could be at the end of a retracement it could be at the end of a rally
it is just a way of saying price will reverse.
  • #148,728
  • Jul 21, 2009 12:43pm Jul 21, 2009 12:43pm
Well I'm new to all this I've had a Demo account for a while now 6-7 months and been spying on this forum for about 4 months. Went live Monday
Here are the things I've noticed about Demo Vs Live
1. I am much more willing to play with a demo account when its real cash things are very different.
2. I have mad a few panic trades with the real account jump on one way then get out very quickly (never did this with the demo), just need to calm down and slow it all up. Today was much better than yesterdays $500 loss , back in profit and trying to stick to the charts.
3. Realized that trades don't always happen as instantly as on demo (MT4) and have got caught out scalping, especially when volume is low.

Anyway I'm sure you all know this here but if there are other people reading this thread looking to get into Cable just think about what i have said and good luck.
And a big thanks to everyone here I know I haven't posted before but you have been a great help and inspiration.
  • #148,729
  • Jul 21, 2009 12:44pm Jul 21, 2009 12:44pm
Quoting Forbes55
long for 50 pips up
Can't see the rationale behind a Long at the moment. I'm shorting @ 6400 TP: 6330 Overnight trade pls.
In all your ways acknowledge Him and He will direct your path.
  • #148,730
  • Jul 21, 2009 12:47pm Jul 21, 2009 12:47pm
Leju...I am long also @1.6390 ...thanks

Quoting Lejumeau
I mean by bounce that price will reverse direction at a certain level it could be at the end of a retracement it could be at the end of a rally
it is just a way of saying price will reverse.
  • #148,731
  • Jul 21, 2009 12:56pm Jul 21, 2009 12:56pm
im short @ 6408 TP 6350 SL 6450
wish me luck..
Juz a newbie learn to get rich.
  • #148,732
  • Jul 21, 2009 12:58pm Jul 21, 2009 12:58pm
The rising trendline in H4 still holds
  • #148,733
  • Jul 21, 2009 12:59pm Jul 21, 2009 12:59pm
Quoting OmegaFire
Can't see the rationale behind a Long at the moment. I'm shorting @ 6400 TP: 6330 Overnight trade pls.
shorting at support level is not rational also
  • #148,734
  • Jul 21, 2009 1:05pm Jul 21, 2009 1:05pm
Happy Days. I think the Dow will drag us up a bit over the next hour
Disclaimer: Check your 1m charts
  • #148,735
  • Jul 21, 2009 1:05pm Jul 21, 2009 1:05pm
now is a logical short at 26 or whatever
  • #148,736
  • Jul 21, 2009 1:11pm Jul 21, 2009 1:11pm
Quoting Lejumeau
shorting at support level is not rational also

I think u'r right Leju. -20 pips currently. Should've anticipated the bounce @ 6383. my Bias is still Short though. Hoping it will come back down.
In all your ways acknowledge Him and He will direct your path.
  • #148,737
  • Jul 21, 2009 1:14pm Jul 21, 2009 1:14pm
Quoting pipper
Happy Days. I think the Dow will drag us up a bit over the next hour
thats right my friend ªªª
  • #148,738
  • Jul 21, 2009 1:14pm Jul 21, 2009 1:14pm
FTSE and DAX in possitive so i can't see Dow not going higher
Disclaimer: Check your 1m charts
  • #148,739
  • Jul 21, 2009 1:16pm Jul 21, 2009 1:16pm
Quoting OmegaFire
I think u'r right Leju. -20 pips currently. Should've anticipated the bounce @ 6383. my Bias is still Short though. Hoping it will come back down.
1.6455 to 1.6475 area could be a good place to short if the Pivot hold the resistance
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  • #148,740
  • Jul 21, 2009 1:20pm Jul 21, 2009 1:20pm
Quoting Lejumeau
1.6455 to 1.6475 area could be a good place to short if the Pivot hold the resistance
Right on... I have pending sell order from 1.6450
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