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Cable Update (GBPUSD)

  • #157,821
  • Aug 13, 2009 4:56pm Aug 13, 2009 4:56pm
Quoting Angelina
not yet Alex, but I will long when she retest 380-420 again.
Bless him i dont think that helped him poor lad is long at 585....

my 2 cents would see how it reacts to this zone at 50..
Let Price determine your future!
  • #157,822
  • Aug 13, 2009 5:13pm Aug 13, 2009 5:13pm
Morning Guys,

Holding SHORTS for BEERS later .

See you all in the London Session.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #157,823
  • Aug 13, 2009 5:28pm Aug 13, 2009 5:28pm
Quoting Bull_Bear
Alright, When I'm been referenced in that manner I will NOT stand for your SHIT!.......
He done it all day long, don't lose too much energy on this!
It's not an ego thing, well that's what he said... Hehe!

I knew we would gave fun today!

Take care!
  • #157,824
  • Edited 5:48pm Aug 13, 2009 5:38pm | Edited 5:48pm
why long USD-CHF, it looks like it could go down about 100-150 pips (based on my daily and h4 charts.)

Not so sure bout short on AUD-USD either. But a 50-60 pip stop with an equal t/p may cut it

PS- If you reall do these pairs, then it might be worthwhile to look at the AUD/NZD--Seems like a good long opportunity forming.

Quoting ams
if anyone interested in usd-chf...time to go long 50-100 pip SL...
short aussie against usd..same SL
Its all in the mind.
  • #157,825
  • Aug 13, 2009 5:45pm Aug 13, 2009 5:45pm
It's a bliss that I miss most of the posts on this thread. But arrghh today seemed like a real fun day
Its all in the mind.
  • #157,826
  • Aug 13, 2009 5:51pm Aug 13, 2009 5:51pm
Quoting ams
if anyone interested in usd-chf...time to go long 50-100 pip SL...
short aussie against usd..same SL
i think the same about UC and AU, but i trade swissy very rarely. for AU on the other hand 0.85 is very very cruicial resistance and I would love to load shorts closer to that level. that said i think it is good R:R trade if you short at currecnt price 0.8424+-2 with stop just above todays high about 0.8464+-2
  • #157,827
  • Aug 13, 2009 6:05pm Aug 13, 2009 6:05pm
I am always amazed when people call trades when there is no price action. I need to see the Crystal Ball you guys are using.
Zone Breakout Method
  • #157,828
  • Aug 13, 2009 6:07pm Aug 13, 2009 6:07pm
price been acting out all day, all week all year he who looks will find

anyways I have a feeling of dollar rally tomorrow and fall in indices.- Just a feeling.
  • #157,829
  • Aug 13, 2009 6:13pm Aug 13, 2009 6:13pm
Quoting alex1976
went long at 585.
Alex,

No offense intended here but what did you see that would cause you to go long at 585 when we are in early Asian session and consolidating? Just curious.
Zone Breakout Method
  • #157,830
  • Aug 13, 2009 6:26pm Aug 13, 2009 6:26pm
Hi all that short from R3 would have been a good trade but i got the pips on the way up ..
This morning im now short for the day till london comes on then reassess the probabilities im using PPX as resistance with Target S1 a break of PPX will target R1 .anyway see how we go ..
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  • #157,831
  • Aug 13, 2009 6:27pm Aug 13, 2009 6:27pm
A lot that has been already said here while I was slaving away at 9-5, I feel a need to present my shiny 2 cents

There are many aspects you need to look into before you decide you are going to be short or long- I have maintained from last week or so that 6400-6500 areas will be good long areas. See the graph for my "reasons"

1- BLUE TL- See the blue trendline that has been a solid weekly support. Why would I go short until it is borken?
2) YELLOW 200 SMA On the H4--GU respects it.

3) H4 Fibo 50 % red line horizontally

4) Lastly the big white line that is a good s/r going back a few years.

Therefore I will be wary of making statements like 1.500 or 1.40 here I come untill all these conditions stand to guard GU from a drop below.

Trade well.
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Its all in the mind.
  • #157,832
  • Aug 13, 2009 6:41pm Aug 13, 2009 6:41pm
Sometime or another, we will get of that box....
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  • #157,833
  • Edited 6:48pm Aug 13, 2009 6:46pm | Edited 6:48pm
I like to trade breakouts and I find them to be the easiest and most accurate trades for me. We usually break consolidation with enough momentum to kick us into profit. Fibo bounces are great too. Here is my take on the 4 hour chart. I have two sets of fibs giving us double support around the 0 or 61.8 level and we also have a double 38.2. For fib guys, what could be better. I also like standard trend lines.

And......indicator free
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Zone Breakout Method
  • #157,834
  • Aug 13, 2009 6:50pm Aug 13, 2009 6:50pm
so...are you long or short. Your upper trend line confuses me, are you saying short?



Quoting PowerTrader
I like to trade breakouts and I find them to be the easiest and most accurate trades for me. We usually break consolidation with enough momentum to kick us into profit. Fibo bounces are great too. Here is my take on the 4 hour chart. I have two sets of fibs giving us double support around the 0 or 61.8 level and we also have a double 38.2. For fib guys, what could be better. I also like standard trend lines.

And......indicator free
Its all in the mind.
  • #157,835
  • Aug 13, 2009 6:53pm Aug 13, 2009 6:53pm
I am also watching Ero yen at 3600. we may see a bounce. about GU bias is bulish, but we may go down a bit before up so staying out reall unless I wanna hold a trade over weekend

Quoting 5abi
why long USD-CHF, it looks like it could go down about 100-150 pips (based on my daily and h4 charts.)

Not so sure bout short on AUD-USD either. But a 50-60 pip stop with an equal t/p may cut it

PS- If you reall do these pairs, then it might be worthwhile to look at the AUD/NZD--Seems like a good long opportunity forming.
Its all in the mind.
  • #157,836
  • Aug 13, 2009 6:56pm Aug 13, 2009 6:56pm
Quoting 5abi
so...are you long or short. Your upper trend line confuses me, are you saying short?

Thanks for the question. I am not in any trades at this time. My upper trend line is based on the Demark Method for drawing trend lines. I will take a trade based on breaking out of either trend line or consolidation on a shorter time frame always understanding where price is in relationship to the longer term fibs and trend lines. I react to the market and never attempt to predict.
Zone Breakout Method
  • #157,837
  • Aug 13, 2009 7:01pm Aug 13, 2009 7:01pm
Thanks for the clarification, I have another Q--What kind of T/PS and S/Ls you use for your methd?
I ask cuz I have thoughts on same lines- I will enter based on momentum, and S/R, FIbo etc. I have been done pretty good with this route--But I only target 50 pips on GU, EU and 35 pips on pairs like AUD-USD, and usd-jpy etc.



Quoting PowerTrader
Thanks for the question. I am not in any trades at this time. My upper trend line is based on the Demark Method for drawing trend lines. I will take a trade based on breaking out of either trend line or consolidation on a shorter time frame always understanding where price is in relationship to the longer term fibs and trend lines. I react to the market and never attempt to predict.
Its all in the mind.
  • #157,838
  • Edited 7:11pm Aug 13, 2009 7:03pm | Edited 7:11pm
Quoting 5abi
Thanks for the clarification, I have another Q--What kind of T/PS and S/Ls you use for your methd?
I ask cuz I have thoughts on same lines- I will enter based on momentum, and S/R, FIbo etc. I have been done pretty good with this route--But I only target 50 pips on GU, EU and 35 pips on pairs like AUD-USD, and usd-jpy etc.
I do not choose any certain number for either SL or TP. I set my SL's behind the closest support or resistance depending on the trade, usually no more than 40 pips. TP's are based on Fib levels.
Zone Breakout Method
  • #157,839
  • Aug 13, 2009 7:07pm Aug 13, 2009 7:07pm
Quoting PowerTrader
I like to trade breakouts and I find them to be the easiest and most accurate trades for me. We usually break consolidation with enough momentum to kick us into profit. Fibo bounces are great too. Here is my take on the 4 hour chart. I have two sets of fibs giving us double support around the 0 or 61.8 level and we also have a double 38.2. For fib guys, what could be better. I also like standard trend lines.

And......indicator free

As a fib guy, I work mostly around support and resistance ranges, though I can agree with your 4 hr forecast, it is IMO lacking when you consider the daily chart. As of current, I am short, and will be continuing a short trace until I see reason not to.

Just me, adding to the convo.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #157,840
  • Aug 13, 2009 7:10pm Aug 13, 2009 7:10pm
I got ya, thanks!

Quoting PowerTrader
I do not choose and certain number for either SL or TP. I set my SL's behind the closest support or resistance depending on the trade, usually no more than 40 pips. TP's are based on Fib levels.
Its all in the mind.
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