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Cable Update (GBPUSD)

  • #168,501
  • Edited 7:47pm Sep 23, 2009 7:05pm | Edited 7:47pm
Quoting nAVIN2007
guys u know the crazyness of all this gbp strength is increasing but dollar strength has increased much more.....and we falling..how rediculious is this...anyway we falling thats what counts

im off to bed as well ......

dont do anything stupid now ...

Take a rest well Nav. I am stupid, but very nice got an Asian bull steak breakfast early in the morning ! And I'll drink BB beer at about 1.6370/400 if everything works properly !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #168,502
  • Sep 23, 2009 7:07pm Sep 23, 2009 7:07pm
Quoting Pyramus
Good morning guy's!! Just closed all my shorts and joined the darkside Long at 1.6330 SL 1.6280 TP 1.65
reason for going long we had clearly broken the down channel from yesterday trade this down move is a retracement
from the 3day long rally happy trading everyone
In the same boat from 1.6323, but my 1st target is in a level between 1.6370 - 1.6400 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #168,503
  • Sep 23, 2009 7:07pm Sep 23, 2009 7:07pm
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.
ok long scalp over with playing with fire on that one , taht was based on test last session daily pivot. New daily pivot is 1.6374 and for now i have closed long under thos level for a few pips

now looking to see what china gives us in 1,5 hrs
Blogging daily now at www.volume.zone
  • #168,504
  • Sep 23, 2009 7:20pm Sep 23, 2009 7:20pm
Quoting malcolmb14
ok long scalp over with playing with fire on that one , taht was based on test last session daily pivot. New daily pivot is 1.6374 and for now i have closed long under thos level for a few pips

now looking to see what china gives us in 1,5 hrs
Wait ...wait ... let her touches 1.6370-78 1st ! :nerd:
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #168,505
  • Sep 23, 2009 7:36pm Sep 23, 2009 7:36pm
Move SL to 1.6345 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #168,506
  • Edited 8:50pm Sep 23, 2009 8:02pm | Edited 8:50pm
The ascending right angle formation I posted 12 hrs ago has become a broadening symmetrical wedge.

The triangle top peaked at the 1.6465 near the 78.6 retrace of the move down from 1.6565 to 1.6133.

We are back inside the channel now, so have to see if 1.6357 holds as SBR on the 4H and a close below the Gann.

With the rounded bottom forming the resistance test, we should move down, but a dragonfly doji on the 4H means it's possible we may go up again to 1.680 area before the drop. So far, the UTL is holding nicely on the 1H.

Typically broadening symmetrical wedges are bear signals, but also a sign of market confusion.

With the lazy PA in the Asia session, it may be not be until London session that direction is decided.


Quoting Fudomyo

We have an ascending right angle forming on the 4H. (green lines)

This is a bearish formation, but we need a close below the bottom green line at 1.636 (38.2) to confirm the breakout. It can still rise to 1.650 (61.8) before breaking south. I threw a Gann on the 4H and we are still way above it. I have a hunch the Gann will move up to the lower line on the formation by the time we're ready to break lower.
http://www.forexfactory.com/showpost...stcount=168036
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  • #168,507
  • Edited 8:54pm Sep 23, 2009 8:33pm | Edited 8:54pm
Quoting malcolmb14
no pro on EW just learning

DJ and i were expecting wave 4 to end 1.6400

as wave 3 was a ' runaway wave' if in fact this is wave 5 then we could well be 2.62 x wave 1 = 190 pip x 2.62 = 500 pip = 1.5940

NOW on the daily chart i think we are just starting wave 3 down into 1.5300...Global said not this decade..how ever if this channel remains intact then it could be as early as Dec of this year

what we know about wave 1 and 2 is that these often look like abc corrections while everyone is bullish ...and come on isn't everyone still...
This is very interesting!
How about a Goodman wave system? The hart is the 50% rule - easier to me, there is only this one ratio to keep in mind....Goodman suggests that at 50 % the market is in temporary equilibrium being half of both bulls and bears in profit and loss.

First wave down starting with A-B.
50% pull back - B-C.
Next wave, C-D, should be as long as A-B, but it is shorter by X. There is a rule of Carriover-Compensation-Cancellation according to, the amount the PA missed the 50% rule, it will be carried over in absolute value and be compensated in a following Wave somewhere until the absolute values cancel to zero. We can see almost X difference from 50% at point E. By this we may say that it is canceled.
E was a good place to short for many reason and also according to Goodman. One more tool to increase our chances.
E-F another wave and G is a nice 50% correction - a place of potential top according to many method as well.

Now, by the Goodman wave, D-E is a compensated 50% correction of A-D. If this is true, after the correction the amount of A-D movement is expected, if the trend is still in place. This may happen in a way that from point G the length of E-F wave may progress with potential 50% correction as a minor complex wave (not indicated on chart).

According to all this I anticipate that the price go down to 5830. We will see.
I do not know further yet, still learning.

EW and GW are slightly different and seems to be interesting to see how useful they are. I look forward to see hem in action.

I do not think that either of them (they may be competitors) is better than the other, they can be good tools and I hope to master Goodman in the future to some degree - only because that one was my first reading lol.



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Kind Regards zol
  • #168,508
  • Edited 9:12pm Sep 23, 2009 9:00pm | Edited 9:12pm
Sorry, this is a bit off topic. I comparing two web log in trading platforms right now .

The spreads are pretty much the same, they are almost the same. One gaps a little more while the other is always 4 pips on cable.

However the first platform A has the market price 5 pips lower than the other.
Not to mention the charting is horrible on platform A.

edit: wow the charts are off.
too

WHAT gives? That is a BIG difference

Any thoughts?
Thanks!
X

edit I can post a pic if need be for clarification
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #168,509
  • Edited 9:40pm Sep 23, 2009 9:27pm | Edited 9:40pm
It should visit 1.6396 then 1.6262 then we'll see, maby 1.6510 but its too soon.

1.6396 will make us a gartley on the top, then 1.6262 a gartley on the bottom.

4h chart.

Have fun!
_________

Malcom you can shoot me: its a 2 side call - OH NOOO!!
LOL
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  • #168,510
  • Sep 23, 2009 9:55pm Sep 23, 2009 9:55pm
Quoting Inzider
It should visit 1.6396 then 1.6262 then we'll see, maby 1.6510 but its too soon.

1.6396 will make us a gartley on the top, then 1.6262 a gartley on the bottom.

4h chart.

Have fun!
_________

Malcom you can shoot me: its a 2 side call - OH NOOO!!
LOL
inzider, i don't dout trying to figure out how you figured this out looking at chart's now did you use fib an support/res, new just wanna learn
  • #168,511
  • Sep 23, 2009 10:22pm Sep 23, 2009 10:22pm
Quoting trabagwe
inzider, i don't dout trying to figure out how you figured this out looking at chart's now did you use fib an support/res, new just wanna learn

I showed it, and I'll show it again if needed.
This is the most basic form of Price Action.
Fibs and all pattern just help to confirm this:

When price return to a breakout point or the bottom or the top of a bucket, you have 80% chance of a reaction at level.
Add some fibs calcul for level, then basic harmonic pattern line ab=cd (z move) and gartley (M or W move) (still basic sh*t) and you are set.

Ok, add VSA at the end, it will help.

Look at my thread, i'm going over these. I'm not the last word on the subject, everybody got is personal style here.

I hope this help you, just do thing is step, you'll get to your goal!

http://www.forexfactory.com/attachme...0&d=1250833020
http://cdn.forexfactory.com/attachme...1&d=1250833020
  • #168,512
  • Sep 23, 2009 10:27pm Sep 23, 2009 10:27pm
Quoting wormboy
Paul!
I know you find that little doji cute too Daily giving away freebies again lol
Gotta run bro, need to sleep. Good luck with your trades!
like I said .. freebies

1. http://www.forexfactory.com/showpost...postcount=3057

Be back london, good luck
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Thank You
  • #168,513
  • Sep 23, 2009 10:28pm Sep 23, 2009 10:28pm
Quoting Inzider
I showed it, and I'll show it again if needed.
This is the most basic form of Price Action.
Fibs and all pattern just help to confirm this:

When price return to a breakout point or the bottom or the top of a bucket, you have 80% chance of a reaction at level.
Add some fibs calcul for level, then basic harmonic pattern line ab=cd (z move) and gartley (M or W move) (still basic sh*t) and you are set.

Ok, add VSA at the end, it will help.

Look at my thread, i'm going over these. I'm not the last word on the subject, everybody got is personal...
thank you it helped, i wanna understand, sometimes i don't, sorry about such a basic ?, but thanks for you'r time
  • #168,514
  • Sep 23, 2009 10:33pm Sep 23, 2009 10:33pm
see how price travel from bucket to bucket and sometimes block on an old breakout point at return:

Take care later!
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  • #168,515
  • Sep 23, 2009 10:48pm Sep 23, 2009 10:48pm
sure do now... not befor, thanks again, tracy
  • #168,516
  • Sep 23, 2009 11:25pm Sep 23, 2009 11:25pm
Quoting wormboy
like I said .. freebies

1. http://www.forexfactory.com/showpost...postcount=3057

Be back london, good luck

Wormboy, closed my long earlier today at 442, and I went short at 331 earlier.

That Daily doji is nice.
  • #168,517
  • Sep 23, 2009 11:29pm Sep 23, 2009 11:29pm
Morning everyone!!
  • #168,518
  • Sep 23, 2009 11:40pm Sep 23, 2009 11:40pm
Quoting Alpha Hamste
Morning everyone!!
morning bro!

12:30 pm in NY. What time by you?

Don't think I will make LDN tonite. Need 4 hours of sleep at least!

you fellas have any thoughts on my recent post? (about different Spot price from different dealers, similar quotes)
Thanks!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #168,519
  • Sep 23, 2009 11:43pm Sep 23, 2009 11:43pm
Quoting XTrade
morning bro!

12:30 pm in NY. What time by you?

Don't think I will make LDN tonite. Need 4 hours of sleep at least!

you fellas have any thoughts on my recent post?
Hiya Big Apple...it's 11:45 AM here in Jakarta, Indonesia. Go get some sleep then, it's so boring now, nothing much is happening too. Waiting for London to open.
  • #168,520
  • Sep 23, 2009 11:49pm Sep 23, 2009 11:49pm
Quoting Alpha Hamste
Hiya Big Apple...it's 11:45 AM here in Jakarta, Indonesia. Go get some sleep then, it's so boring now, nothing much is happening too. Waiting for London to open.
COOL! Wonderful to be able to connect with so many traders/personalities across the globe, just a click away!!!

Yes, I will, It is. I had a small run with these markets before. About 10 pips on the way down. BUT, I shorted E/U along with cable once I saw they were in decent unison. E/U broke the day session low.

This is a repost image but thought you guys might like this pic of "cable" if not seen already

http://upload.wikimedia.org/wikipedi..._cable_Map.jpg
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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