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Cable Update (GBPUSD)

  • #165,461
  • Sep 14, 2009 8:16pm Sep 14, 2009 8:16pm
Quoting djambazov84
two 15 min pinbars you can never go wrong with that
also support turning into resistance if u look to the left (which you already did probably)
Precisely my thinking as well. I guess old J16 habits die hard....LOL Looking for that 1H confirmation. And yes, I always look both ways before crossing the street.
Ghost Rider - WWTBMD?
  • #165,462
  • Sep 14, 2009 8:25pm Sep 14, 2009 8:25pm
Quoting albchr
Precisely my thinking as well. I guess old J16 habits die hard....LOL Looking for that 1H confirmation. And yes, I always look both ways before crossing the street.

screw h1 gets u in late
nowadays for me when i`m looking into h4/daily setups trigger timeframe is rarely even 15m
just slap a better volume indicator on the chart and u`ll never look at h1/h4 to confirm entry, thus u`ll dramatically lower your SL size and will be able to get in bigger positions..but thats just me

btw for e/j 133.00 will be tough to break but things is price retraced to the 61fib of the whole downmove from 134.40 on m15 i see two upthrusts > weakness so you might hold your breath for a double top )

wish u luck i`m still nursing my 1.6740 short on cable
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #165,463
  • Sep 14, 2009 8:28pm Sep 14, 2009 8:28pm
i hope this does not sound to stupid, but can anyone tell me when you look at the daily chart. for today is that a gap, i here people speak of filling the gap is that what there speaking of,?
  • #165,464
  • Sep 14, 2009 8:30pm Sep 14, 2009 8:30pm
Quoting djambazov84
screw h1 gets u in late
nowadays for me when i`m looking into h4/daily setups trigger timeframe is rarely even 15m
just slap a better volume indicator on the chart and u`ll never look at h1/h4 to confirm entry, thus u`ll dramatically lower your SL size and will be able to get in bigger positions..but thats just me

btw for e/j 133.00 will be tough to break but things is price retraced to the 61fib of the whole downmove from 134.40 on m15 i see two upthrusts > weakness so you might hold your breath for a double top )

wish u luck i`m still...
I agree and in fact have been following EO's thread and learning the 15m for better entries. Been doing well with it. I have a feeling she'll bounce back up "toward" that 61.8 at 133.20 again. 133.06 is 1H S/R on my chart and she's bumping it right now. Like I said....LOL...so close to pulling the trigger.

I have a better volume but haven't had the time to really learn it yet. So much to study, so little time....
Ghost Rider - WWTBMD?
  • #165,465
  • Sep 14, 2009 8:32pm Sep 14, 2009 8:32pm
Quoting albchr
I agree and in fact have been following EO's thread and learning the 15m for better entries. Been doing well with it. I have a feeling she'll bounce back up "toward" that 61.8 at 133.20 again. 133.06 is 1H S/R on my chart and she's bumping it right now. Like I said....LOL...so close to pulling the trigger.

I have a better volume but haven't had the time to really learn it yet. So much to study, so little time....

sleep is overrated
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #165,466
  • Sep 14, 2009 8:35pm Sep 14, 2009 8:35pm
Quoting djambazov84
sleep is overrated
Yeah but I REALLY need some right now....

I normally go now and grab a couple hours before London.
Ghost Rider - WWTBMD?
  • #165,467
  • Sep 14, 2009 8:39pm Sep 14, 2009 8:39pm
Quoting albchr
I agree and in fact have been following EO's thread and learning the 15m for better entries. Been doing well with it. I have a feeling she'll bounce back up "toward" that 61.8 at 133.20 again. 133.06 is 1H S/R on my chart and she's bumping it right now. Like I said....LOL...so close to pulling the trigger.

I have a better volume but haven't had the time to really learn it yet. So much to study, so little time....
Could you please post the link to "EO's" thread?
Don't let the same dog bite you twice. -- Chuck Berry
  • #165,468
  • Sep 14, 2009 8:42pm Sep 14, 2009 8:42pm
Quoting pippingFury
Could you please post the link to "EO's" thread?
Absolutely. Here ya go...

http://www.forexfactory.com/showthread.php?t=121761
Ghost Rider - WWTBMD?
  • #165,469
  • Sep 14, 2009 8:54pm Sep 14, 2009 8:54pm
nice candle formation on hourly.

double top?
  • #165,470
  • Sep 14, 2009 8:58pm Sep 14, 2009 8:58pm
Quoting albchr
Absolutely. Here ya go...

http://www.forexfactory.com/showthread.php?t=121761
Many thanks!
Don't let the same dog bite you twice. -- Chuck Berry
  • #165,471
  • Sep 14, 2009 9:00pm Sep 14, 2009 9:00pm
Quoting alex1976
nice candle formation on hourly.

double top?
It seems , it's also overbought on hourly but it still has room to move upward. We'll see if it will pass 6666.
"Hate the sin, love the sinner." - Gandhi
  • #165,472
  • Sep 14, 2009 9:11pm Sep 14, 2009 9:11pm
Quoting trabagwe
i hope this does not sound to stupid, but can anyone tell me when you look at the daily chart. for today is that a gap, i here people speak of filling the gap is that what there speaking of,?
If the price changes, in a larger than a few pip skip from Friday's close to Sunday's open, there is a gap. That gap will almost typically always be filled in some time frame...If pps gaps down 30 pips and price bottoms another 50 pips, a possible score is an 80 pip run, with gap fill.

Something to look @ on the EJ and GJ charts, pick your time frame, from Friday close to open Sunday.

Hope this helps.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,473
  • Sep 14, 2009 9:18pm Sep 14, 2009 9:18pm
Looks like we about to get some fire sale prices on Cable. Time for bears to profit, bulls to look for some cheap seats to the fireworks!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,474
  • Sep 14, 2009 9:20pm Sep 14, 2009 9:20pm
Quoting TheGabriel
It seems , it's also overbought on hourly but it still has room to move upward. We'll see if it will pass 6666.
Would also seem that double top happend within 1 pip of the 50 fib at 6630 which is also 1H & 4H S/R. 61.8 fib is at 6656. Only thing that concerns me about a short here is it's now outside my 1H down channel and above my 1H utl.

Like you, I think it has some room to move up a bit more......
Ghost Rider - WWTBMD?
  • #165,475
  • Sep 14, 2009 9:24pm Sep 14, 2009 9:24pm
Quoting Magix
If the price changes, in a larger than a few pip skip from Friday's close to Sunday's open, there is a gap. That gap will almost typically always be filled in some time frame...If pps gaps down 30 pips and price bottoms another 50 pips, a possible score is an 80 pip run, with gap fill.

Something to look @ on the EJ and GJ charts, pick your time frame, from Friday close to open Sunday.

Hope this helps.

thank's i did realy helped, working hard to try an understand all this, working w/my chart's now all the people on this site have been so helpful an it realy makes a difference just to be able to ask a ? sometimes i know the ones that know must get tired of it sometimes but they give so much knowleadge it is attest to there person, thank's again, tracy
  • #165,476
  • Sep 14, 2009 9:25pm Sep 14, 2009 9:25pm
according to the H4 chart it will bounce back, the cci showing the same too, it's ready to hit 6686 if it goes a little more up. First it needs to hit the bottom of the trendline though Hope it does bounce back up, the declining bar doesn't seem to move that much, im hoping it's gonna climb up lol im excited. The markets moving in the same pattern for the last 12 hours. Small ups and downs between 6550 and 6622. These are the final couple hours before the US economic releases. anyway good luck to all traders.
  • #165,477
  • Sep 14, 2009 9:31pm Sep 14, 2009 9:31pm
forty i am new at this an have just been working on my chart the channel you speak of is this it am i right or wrong ?, tracy
Attached Image (click to enlarge)
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  • #165,478
  • Sep 14, 2009 10:10pm Sep 14, 2009 10:10pm
Quoting trabagwe
thank's i did realy helped, working hard to try an understand all this, working w/my chart's now all the people on this site have been so helpful an it realy makes a difference just to be able to ask a ? sometimes i know the ones that know must get tired of it sometimes but they give so much knowleadge it is attest to there person, thank's again, tracy
I don't think anybody here can claim to have never had their asses handed to them in this game, even the playtraders, (no disrespect). If you have a question with exception to what you should do in your trade day, ASK, ASK, ASK. We all had to learn someplace and you are not the only one thankful for a place like this and the benefit of other traders knowledge. You may not get the answer you want or understand, so, take what you get and use it as foundation to build on. There are a Grand Bunch of folk here that are glad you ask a question instead of assuming the answer.

Play Safe!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,479
  • Sep 14, 2009 10:37pm Sep 14, 2009 10:37pm
Quoting trabagwe
forty i am new at this an have just been working on my chart the channel you speak of is this it am i right or wrong ?, tracy
which charting software are you using? It seems fairly easy to read the charts using that s/w?

Thanks!
  • #165,480
  • Sep 14, 2009 10:39pm Sep 14, 2009 10:39pm
I can't really say that I like the way that this chart is setting up. I don't much wanna see a tap or bust top, this would surely just limit the range, or cause a bearish reversal....If that happens, throw your friggen charts out the window and set you stops tight, it'd be anybodies ball game then.

As of current, buy range should be @ about 1.6570ish...I would rather buy on a spike down than chase a ride up.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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