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Cable Update (GBPUSD)

  • #168,461
  • Sep 23, 2009 3:25pm Sep 23, 2009 3:25pm
Quoting direct-trade
OK, I'll drop you off at 16320 lol.

What do you think to this bouncing around 14950?
never in this decade ..lol

I have that and lower as a longer term target. But for now lets get a test of 1.6000 and take it from there
Blogging daily now at www.volume.zone
  • #168,462
  • Sep 23, 2009 3:26pm Sep 23, 2009 3:26pm
Quoting malcolmb14
never in this decade ..lol

I have that and lower as a longer term target. But for now lets get a test of 1.6000 and take it from there
lol, I meant 14950 on GBP/JPY, not cable ....mind you, would be nice.
  • #168,463
  • Sep 23, 2009 3:27pm Sep 23, 2009 3:27pm
Quoting Ifty
GUYS both the 5 min and 15 min charts are obviously oversold now. Would it be a bad idea going long here? Anyone actually going long here or not?

err.... GU just dropped 100 pip just like that

es dropped 20 points

GJ dropped..gold dropped oil dropped

and you want to go long ....

ok for a scalp but more liekly off 1.6320.

However at this point I would be looking to sell rallies unless that 4 hour chart changes

Tokyo back on line today ...and SSE not looking bullish on daily at all may all add to the cranage.
Blogging daily now at www.volume.zone
  • #168,464
  • Sep 23, 2009 3:31pm Sep 23, 2009 3:31pm
Quoting malcolmb14
4 hour with fib exoansion plotted on the 12-3 sell formation

targets 1.6300 , 1.6200 , 1.6130 and if we get there , tkae it from there
Did you hit it with another short?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #168,465
  • Sep 23, 2009 3:32pm Sep 23, 2009 3:32pm
Quoting malcolmb14
err.... GU just dropped 100 pip just like that

es dropped 20 points

GJ dropped..gold dropped oil dropped

and you want to go long ....

ok for a scalp but more liekly off 1.6320.

However at this point I would be looking to sell rallies unless that 4 hour chart changes

Tokyo back on line today ...and SSE not looking bullish on daily at all may all add to the cranage.
Actually I was thinking on a scalp basis but not now thanks to you guys bringing me back to reality. I normally use 1 min and 5 min charts for scalping, however, in this situation it would be a shot in the dark which is not a good idea. See what London brings for all of us .
You've got to be IN IT to WIN IT!
  • #168,466
  • Sep 23, 2009 3:32pm Sep 23, 2009 3:32pm
Quoting FxClown
Excellent summary as always. Thanks
Good day to you,

Thank you - I really hope this assists. I recon most traders are aware of these levels anyway... just putting it out there.

The single most important reason i post these, is to discipline myself....as committing through posts, forces me to adhere.

See soon

Regards
  • #168,467
  • Sep 23, 2009 3:38pm Sep 23, 2009 3:38pm
Quoting GlobalMacro
Anytime bro...

see you @ LDN

theres so much bullish diverence on dollar strength this could really tank ... be carefull bro..
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  • #168,468
  • Sep 23, 2009 3:41pm Sep 23, 2009 3:41pm
Quoting direct-trade
lol, i meant 14950 on gbp/jpy, not cable ....mind you, would be nice.

brother i am doing trade in demo and learing now.

I want to know how u know trend is down while it was broken upper 4 hrs ltl.

And how u calculate price action from 6740 u saying continue to say its going down. What make u say this can u help me as i am in learning phase now
  • #168,469
  • Sep 23, 2009 3:42pm Sep 23, 2009 3:42pm
Quoting nAVIN2007
theres so much bullish diverence on dollar strength this could really tank ... be carefull bro..
That does look SERIOUS

Good observation bro....

You should be looking good at the moment, no?

Regards
  • #168,470
  • Sep 23, 2009 3:47pm Sep 23, 2009 3:47pm
Quoting TauTrader
That does look SERIOUS

Good observation bro....

You should be looking good at the moment, no?

Regards
yes not bad brother! ...the trick is not to think of the pip just the target 1.62 , 1.61 then 1.60 only way in long run to be profitable in my view..

hows your trading coming along friend?...postive equity curve?
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  • #168,471
  • Sep 23, 2009 3:56pm Sep 23, 2009 3:56pm
A spike does not constitute a trend

After my last trades during FOMC, I will prefer to sit on the fence

A trend is a slow increasing or a slow decreasing move, NOT A SPIKE
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  • #168,472
  • Sep 23, 2009 3:58pm Sep 23, 2009 3:58pm
Quoting TauTrader
Good day to you,

Thank you - I really hope this assists. I recon most traders are aware of these levels anyway... just putting it out there.

The single most important reason i post these, is to discipline myself....as committing through posts, forces me to adhere.

See soon

Regards
I do my own analysis. Mostly wrong but lately, it has been getting better. By reading some of the better analysis. You ,Sir, are one of the few here who verifies it for me.
I am short Cable. Was from 1.67 (near enough) to bottom. Then long from there to almost 1.64. I am shorting it from there to 1.615 (unless things take an unexpected turn).

I use to watch 1min/5min/15min charts and react to every tick. Now I plan at weekends, make sure I have sound MM and accumulate in the direction of the trend.
I only use 5mins to exit/enter.
As MalcolmB has said, people need to see the 4H chart and just add regression indicator on it. It is that obvious.

PS
I have blown to many accounts to mess around with FOMC/ECB/BoE/NFP worry me.
None the wiser!
  • #168,473
  • Sep 23, 2009 3:59pm Sep 23, 2009 3:59pm
Quoting nAVIN2007
yes not bad brother! ...the trick is not to think of the pip just the target 1.62 , 1.61 then 1.60 only way in long run to be profitable in my view..

hows your trading coming along friend?...postive equity curve?
Bro,

Thanks for asking...

I am doing well. Can't complain.... I am building my account slowly but surely. Attached my effort for the week so far.

We will win this demon inside.

Wish you kick-ass trading
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  • #168,474
  • Sep 23, 2009 4:01pm Sep 23, 2009 4:01pm
@ 10 PM GMT, I should get my new day open price

Approximately 2 hours after that, I will decide on my next plan of action.

I love Interest Rate news and NFP, max profit news
  • #168,475
  • Sep 23, 2009 4:05pm Sep 23, 2009 4:05pm
Quoting forexlion
A spike does not constitute a trend

After my last trades during FOMC, I will prefer to sit on the fence

A trend is a slow increasing or a slow decreasing move, NOT A SPIKE

Hi ForexLion,
I have started reading your excellent thread. Only got to page three but will read it all and practice your tech.

None the wiser!
  • #168,476
  • Sep 23, 2009 4:09pm Sep 23, 2009 4:09pm
Quoting TauTrader
Bro,

Thanks for asking...

I am doing well. Can't complain.... I am building my account slowly but surely. Attached my effort for the week so far.

We will win this demon inside.

Wish you kick-ass trading
there u go! ....winning attitude if i ever saw it and reflected in your result..
welldone brother....thats wonderfull

long may it continue

Quote
We will win this demon inside.
I will drink to that! cheers!!
  • #168,477
  • Sep 23, 2009 4:11pm Sep 23, 2009 4:11pm
Quoting FxClown
I do my own analysis. Mostly wrong but lately, it has been getting better. By reading some of the better analysis. You ,Sir, are one of the few here who verifies it for me.
I am short Cable. Was from 1.67 (near enough) to bottom. Then long from there to almost 1.64. I am shorting it from there to 1.615 (unless things take an unexpected turn).

I use to watch 1min/5min/15min charts and react to every tick. Now I plan at weekends, make sure I have sound MM and accumulate in the direction of the trend.
I only use 5mins to exit/enter.
As MalcolmB has...
Then you are halfway there. Also still battle with the larger timeframes. When I started, I couldn't believe traders would trade from the 30min,1hr,4hr and daily.

For me, 5min was the grail. But this is only because we live in a world of instant gratification. Relax. It is all there. Patience is of such importance. Trust me.

You have extremely astute traders sharing on this thread. I exclude myself. Just look at what they are doing. Add these bits to your own analysis and pick the point.

I am getting luckier all the time. Funny - the more I practice, the luckier i am getting....

Wish you all that is good. Be safe.

Warm regards
  • #168,478
  • Sep 23, 2009 4:14pm Sep 23, 2009 4:14pm
Quoting nAVIN2007
there u go! ....winning attitude if i ever saw it and reflected in your result..
welldone brother....thats wonderfull

long may it continue

I will drink to that! cheers!!
Thanks, boet! ( Bro in my mother tongue)

The funny thing is, you are part of this. Me spunge!

May you go from strength to strength

Be safe, and thank you for your contribution
  • #168,479
  • Sep 23, 2009 4:14pm Sep 23, 2009 4:14pm
Daily and Weekly are trading in a very tight range

There is nothing here to support a CRASH or a SPIKE

This is a tight range, so just concentrate on 5 min charts and SCALP, LAZY BUM.
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  • #168,480
  • Sep 23, 2009 4:15pm Sep 23, 2009 4:15pm
hopefully some noticed that but cable daily closed as a pin bar ..guess I got in late ..but still shorting .
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