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Cable Update (GBPUSD)

  • #152,081
  • Jul 28, 2009 4:02pm Jul 28, 2009 4:02pm
Quoting ams
chaps,

despite everything going on from last few days could anyone see cable holding onto 100 ema on 4 hour from a while?


I think this is a bull trap before we enter into august. Well tonight it will be confirmed.


ams
Hi buddy,

anything can happen but based on what happened today with cable..we could in august see a new low..i wont be surprised
august has a habbit of sinking cable
  • #152,082
  • Jul 28, 2009 4:11pm Jul 28, 2009 4:11pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hi Nav,

August has always been deadly..but I am surprised to see cable steadily holding 100ema and not even jumping more then 66000, thought to get opinion from others if they see diff to what I see. I think this sucker is going for 64800 atleast.


ams



Quoting nAVIN2007
Hi buddy,

anything can happen but based on what happened today with cable..we could in august see a new low..i wont be surprised
august has a habbit of sinking cable
  • #152,083
  • Jul 28, 2009 4:21pm Jul 28, 2009 4:21pm
Quoting nAVIN2007
Hi buddy,0

anything can happen but based on what happened today with cable..we could in august see a new low..i wont be surprised
august has a habbit of sinking cable
In addition to this I would like to add one more main factor that would set the tone for the whole month of August which is NFP. If we see last NFP for July was worst and on June 30th it went up to 1.6747 then after NFP it couldn't even touch 1.66 till now. My observation is cable might try to break 1.6580 area in the next 3 days (July 31st). If NFP comes out a good number on August 7th then I wouldn't be surprised for Cable to touch 1.70

We don't have to compare the last August of 2008 to this August 2009 because last August 4th the cable was @ 1.97 and now it is in 1.64 handle so I will not press my brain to even compare with the last August. All I see the NFP on 7th of August and if it is a good number then bravo to Bull market for the rest of the August......

Good Luck....

Alqaz Syed...
  • #152,084
  • Jul 28, 2009 4:25pm Jul 28, 2009 4:25pm
Quoting nAVIN2007
nice to hear this..u certainly got the top right..i got stopped out at a loss...welldone chris

Oh no Nav......I thought for sure you had yourself locked into some profit before you left this morning. I'm really sorry to hear that Bro...

But you'll get her back my friend!!

So for all you guys who've been around the block more than I, do you think the Asian session will pick up these low prices and run it up a bit tonight?
Ghost Rider - WWTBMD?
  • #152,085
  • Jul 28, 2009 4:26pm Jul 28, 2009 4:26pm
Does anyone know how to import a template or a signal to MT4?
Thank you
Caro
Better safe than sorry
  • #152,086
  • Jul 28, 2009 4:30pm Jul 28, 2009 4:30pm
Quoting cdforex
Does anyone know how to import a template or a signal to MT4?
Thank you
Caro

Yep could just ask me on my thread LOL


Open a chart you want, EJ or GU set it to M1, then right click the chart Go Templates and Load, point at the template and thats it really.

Easy peasy!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,087
  • Jul 28, 2009 4:36pm Jul 28, 2009 4:36pm
Quoting Turveyd
Yep could just ask me on my thread LOL


Open a chart you want, EJ or GU set it to M1, then right click the chart Go Templates and Load, point at the template and thats it really.

Easy peasy!!

Got it! tyvm
Better safe than sorry
  • #152,088
  • Jul 28, 2009 4:38pm Jul 28, 2009 4:38pm
is it true that in August market will be dead ? , i mean u will not see cable moving 200 points per day ?!!! so how much we could se ?! 50 pip !!
  • #152,089
  • Jul 28, 2009 4:39pm Jul 28, 2009 4:39pm
could a short be good here, or is it too early to tell?
  • #152,090
  • Jul 28, 2009 4:44pm Jul 28, 2009 4:44pm
Quoting albchr
Oh no Nav......I thought for sure you had yourself locked into some profit before you left this morning. I'm really sorry to hear that Bro...

But you'll get her back my friend!!

So for all you guys who've been around the block more than I, do you think the Asian session will pick up these low prices and run it up a bit tonight?
I believe immediate reaction towards at least 1.6471 should be in the cards...
Hear the music before the song is over ...
  • #152,091
  • Jul 28, 2009 4:51pm Jul 28, 2009 4:51pm
Quoting nAVIN2007
Hi buddy,

anything can happen but based on what happened today with cable..we could in august see a new low..i wont be surprised
august has a habbit of sinking cable

well in dec cable is at 1.4000 .. so it not going to get there overnight... August test 1.5500 very possible
Blogging daily now at www.volume.zone
  • #152,092
  • Jul 28, 2009 4:55pm Jul 28, 2009 4:55pm
Quoting roreki
is it true that in August market will be dead ? , i mean u will not see cable moving 200 points per day ?!!! so how much we could se ?! 50 pip !!

yeah market will be dead ....rofl ... take the Summer off ...

August / Sept is when the fireworks may begin
Blogging daily now at www.volume.zone
  • #152,093
  • Jul 28, 2009 4:57pm Jul 28, 2009 4:57pm
Quoting malcolmb14
well in dec cable is at 1.4000 .. so it not going to get there overnight... August test 1.5500 very possible
I, too, think we haven't seen the long-term bottom of cable yet but I'm not sure as to when that's gonna happen. Do you have any specific reason to believe why it's gonna be december?
Hear the music before the song is over ...
  • #152,094
  • Jul 28, 2009 5:01pm Jul 28, 2009 5:01pm
Quoting asyed4
In addition to this I would like to add one more main factor that would set the tone for the whole month of August which is NFP. If we see last NFP for July was worst and on June 30th it went up to 1.6747 then after NFP it couldn't even touch 1.66 till now. My observation is cable might try to break 1.6580 area in the next 3 days (July 31st). If NFP comes out a good number on August 7th then I wouldn't be surprised for Cable to touch 1.70

We don't have to compare the last August of 2008 to this August 2009 because last August 4th the cable was...

Dude, your making it too complicated hugely so, its near on impossible to predict the market and the further out you try to go the more impossible it becomes just because you expect X or it did X last year, you can't in any way or form count out Y happening this year.

Less thinking and trade your charts as it happens any bias your trading off will only cost you dearly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,095
  • Jul 28, 2009 5:05pm Jul 28, 2009 5:05pm
Morning Guys, Looks like Cable is setting for a big crash.... Keep an eye on thos two trend lines..... if the both break min of 1.6220 as a target....

I got her going south since 1.6480.... SL 1.6570... TP 1.6220

See you guys at the London / US session
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,096
  • Jul 28, 2009 5:11pm Jul 28, 2009 5:11pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Let's begin on fundamentals to kill the time

Major treasury holder for US is who, china? sitting on huge pile of 1.5 tril $ as foreign reserves, and buying bonds. If dollar goes down China's FR goes down. I am sure this would worry both since US is dependant on china. I think US won't let this happen. They maniulate the market anyways, it's the untold truth we are all aware of.

Despite the fact that new gov has to prove their worth, and justify printing money, it wouldn't go down as bad but I see bear market for a while as well to satisfy china as US financier.

ams
  • #152,097
  • Jul 28, 2009 5:13pm Jul 28, 2009 5:13pm
its a new trading day.

the question for me is "up day or down day?"

it has a well established support and resistance level, a head and shoulders developing on the 4 hr and has long ago disrespected its daily up trend line, despite what I said yesterday about 10% neutral, 38% down and 51% up chance probability based on the last 169 trading days, at this stage I think it is about 50 50%.

For what it is worth, I tried trading the 1 minute chart yesterday.

It is not for me. It seems I have to learn this lesson every now and again.

Happy trading
  • #152,098
  • Jul 28, 2009 5:18pm Jul 28, 2009 5:18pm
Quoting qp2

For what it is worth, I tried trading the 1 minute chart yesterday.


Happy trading

You can't just learn how to trade a M1 chart first time out, you can't use the same system as what you use for H4 or anything else, it's something that you've got to masted the same as H4.

Your win probability will be much much much higher when mastered, you'll see the trend and direction much clearer still be able to get the big pip movements infact more of them and do so on a much less SL, so a win win situation.

But it takes time!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,099
  • Jul 28, 2009 5:22pm Jul 28, 2009 5:22pm
Quoting ams
Let's begin on fundamentals to kill the time

Major treasury holder for US is who, china? sitting on huge pile of 1.5 tril $ as foreign reserves, and buying bonds. If dollar goes down China's FR goes down. I am sure this would worry both since US is dependant on china. I think US won't let this happen. They maniulate the market anyways, it's the untold truth we are all aware of.

Despite the fact that new gov has to prove their worth, and justify printing money, it wouldn't go down as bad but I see bear market for a while as well to satisfy...

err .. one thing you got wrong in there. China was buying bonds .. for leverage over US . They hedged these with gold. Did you know China was holding 43% of all US bonds at one point and oculd have crippled the USD if they wanted to . They have been selling the bonds as fast as they can without crashing the bond market.
Blogging daily now at www.volume.zone
  • #152,100
  • Jul 28, 2009 5:27pm Jul 28, 2009 5:27pm
Quoting qp2
its a new trading day.

the question for me is "up day or down day?"

it has a well established support and resistance level, a head and shoulders developing on the 4 hr and has long ago disrespected its daily up trend line, despite what I said yesterday about 10% neutral, 38% down and 51% up chance probability based on the last 169 trading days, at this stage I think it is about 50 50%.

For what it is worth, I tried trading the 1 minute chart yesterday.

It is not for me. It seems I have to learn this lesson every now and again.

Happy...

one thing you have to know about these forums is that traders that say they make loads of pips traidng 1 min are full of brown stuff . They rarely call trades before they happen . A successful trader is one that has apln .. entry and exit.

95% of traders fail ...fact .

100 % of trader millionaires as per postings on forex factory ( how i make a gazillion pips trading a 1 min chart) ... fiction !

I consider myself a successful scalper .... i would never trade off a 1 min chart in fx .. lets see .. movements small and spreads would kill you. Even a 15 pip reversal on a 5 min chart would look massive on 1 min chart ....

food for thought
Blogging daily now at www.volume.zone
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