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Cable Update (GBPUSD)

  • #168,581
  • Sep 24, 2009 3:14am Sep 24, 2009 3:14am
Thinking about long @1.6242
Chaos Trader
  • #168,582
  • Sep 24, 2009 3:14am Sep 24, 2009 3:14am
Quoting nAVIN2007
i wont count on it brother...technically that happened already ...we broke out of the wedge, my boy! azim whatever comes out of his mouth seems to happen

are u in the trade short?
Yes from 6380. Took a portion at that mid line (6257) I posted a few posts back. Hey I'm all for it dropping straight from here but we all know it's hardly ever a straight line up or down. We shall see....
Ghost Rider - WWTBMD?
  • #168,583
  • Sep 24, 2009 3:15am Sep 24, 2009 3:15am
Quoting traderfx
we should see 1.6135
today?
  • #168,584
  • Sep 24, 2009 3:16am Sep 24, 2009 3:16am
Quoting Fx1618
After a few bad trades on my Live acc, I decided to do a demo trade today @ 07:30 GMT on GU @ 1.6280 and wolla there she goes....

Why'Owhy...

Hey bud,

Hows it going, you guys got a holiday today over there?

I have been watching this all morning and the interaction with my fibs...and everytime she drops I think well thats the end of it...then down she goes again.

I've found that fibo trading on the low time frames seems to be working for me at the moment, still need to work out a mm stategy on that though!

Hows the trading going?
  • #168,585
  • Sep 24, 2009 3:16am Sep 24, 2009 3:16am
Quoting TerpFan2
Yeah Nav,

The Q: of the hr as always when you're in profit...
Where,
To take it!

Yeah, i just got back from Sunny Cali, from a close
friend who passed, back to the East Coast Grind.
I just wasn't sure what the math was on the time of
day when 'woke up! I was trying to compute math,
on your London Time Frame!

OOP's Bro' ObamA on the "Short" button again,
Keep this up & we're into paying the China back
a wee fraction of debet.

1.6100's PleASE !
Enjoy Nav,
i enter twice....i changed one of them to 1.57
to much selling of the pound.....and dollar bullishness is a question of time

gotta love obama ....
  • #168,586
  • Sep 24, 2009 3:18am Sep 24, 2009 3:18am
Quoting antic81
Hey bud,

Hows it going, you guys got a holiday today over there?

I have been watching this all morning and the interaction with my fibs...and everytime she drops I think well thats the end of it...then down she goes again.

I've found that fibo trading on the low time frames seems to be working for me at the moment, still need to work out a mm stategy on that though!

Hows the trading going?

fibo are useless on there own, its simly a retracement tool..cable has a habbit of obeying 50% retracement...so when it lines up with support or resistance..u have a probability
  • #168,587
  • Sep 24, 2009 3:21am Sep 24, 2009 3:21am
Yeah,

On all Seriousness Guys,
I see 1.6215 Is now broKEN,
on my Charts... On the Bigger time frames,
That would say London wants possibly the bottom,
-Maybe not right now, today or tomorrow...

But i would be seeing a low around 1.6133.
2 pips in range of this quote, (below).
Again though,
This is HOG CALLING, and it's easy to do that
onLY when you're up in a trade, in the zone of it all.
Not a call here to buy sell or hold!
Happy Pipping,

Jeff...
Quoting traderfx
we should see 1.6135
I will work to Objectively Identify my Edges
  • #168,588
  • Sep 24, 2009 3:22am Sep 24, 2009 3:22am
Quoting TerpFan2
Yeah Nav,

The Q: of the hr as always when you're in profit...
Where,
To take it!

Yeah, i just got back from Sunny Cali, from a close
friend who passed, back to the East Coast Grind.
I just wasn't sure what the math was on the time of
day when 'woke up! I was trying to compute math,
on your London Time Frame!

OOP's Bro' ObamA on the "Short" button again,
Keep this up & we're into paying the China back
a wee fraction of debet.

1.6100's PleASE !
Enjoy Nav,
damnit i need to go hospital ....shoulder check up!
  • #168,589
  • Sep 24, 2009 3:23am Sep 24, 2009 3:23am
Quoting traderfx
we should see 1.6135
sup brother!

trend resumption...interest rate say the same for both country, nothing change hence same trend....

my simple mind at work here....is that right paul?
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  • #168,590
  • Sep 24, 2009 3:23am Sep 24, 2009 3:23am
Attached Image (click to enlarge)
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  • #168,591
  • Edited 3:26am Sep 24, 2009 3:24am | Edited 3:26am
I am short from fibo 38.2, at 1.6338, I will take profit at fibo level 0, at 1.6132 and get long from it level.
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  • #168,592
  • Sep 24, 2009 3:24am Sep 24, 2009 3:24am
Quoting nAVIN2007
fibo are useless on there own, its simly a retracement tool..cable has a habbit of obeying 50% retracement...so when it lines up with support or resistance..u have a probability

Oh yeah, of course I agree, was just a simplification of my strategy, never use any indicators on their own, allways in conjunction with the chart, trend, other indicators etc...oh and lastly I actually dont use it on cable...bit to volitile for that type of trading, well for me anyway!
  • #168,593
  • Sep 24, 2009 3:24am Sep 24, 2009 3:24am
Quoting nAVIN2007
damnit i need to go hospital ....shoulder check up!
How's that doing by the way buddy?

And, I might be wrong about that "straight" line....LOL
Ghost Rider - WWTBMD?
  • #168,594
  • Sep 24, 2009 3:27am Sep 24, 2009 3:27am
Quoting antic81
Hey bud,

Hows it going, you guys got a holiday today over there?

I have been watching this all morning and the interaction with my fibs...and everytime she drops I think well thats the end of it...then down she goes again.

I've found that fibo trading on the low time frames seems to be working for me at the moment, still need to work out a mm stategy on that though!

Hows the trading going?
Hi Atic, good to hear from you. Yes we have Heritage day or as its now know... Braai for Heritage.
  • #168,595
  • Sep 24, 2009 3:28am Sep 24, 2009 3:28am
The last closed 1hr candle was what you call a bearish thrust...it's own macd signal line crossed below it's axis and pointing down @ close of candle and next 2 higher t/f macd signal lines pointing down...hi-probability sell on close of the candle..similarly the cl;ose of 0850am london time 5min candle..if on the lower t/f's (same hi-probability technique for taking advantage of momentum,)

Currently Mni talking about bids approaching 6200 9could well be absorbed by supply?)...no useful fibs to the downside before 6111 area, fibs drawn from i/day hi to i/day lo and y/day's post fomc hi to current lo.

Pairing looking increasingly bearish on the back of King's comments again, lol.

G/L
ex member
  • #168,596
  • Sep 24, 2009 3:29am Sep 24, 2009 3:29am
I am gonna be Forexlion today, that's my Forex resolution for today
RANDOM SHORTS ON ALL 3 MAJORS!!
  • #168,597
  • Sep 24, 2009 3:30am Sep 24, 2009 3:30am
Quoting albchr
How's that doing by the way buddy?

And, I might be wrong about that "straight" line....LOL

its out of the sling i havent got full movement, but it better everyday..i realy dont want to go hospital..this trade need nursing...

damnit....thanks for asking brother! ...
  • #168,598
  • Sep 24, 2009 3:33am Sep 24, 2009 3:33am
Possible start long between this area 6113-6131? or might blow 6000 on next week? I'm not sure so I just need some advice. Thanks
  • #168,599
  • Sep 24, 2009 3:35am Sep 24, 2009 3:35am
Quoting MarkyBoy
Anybody got any advice on long-term GBPUSD? I'm trading the daily at the moment and got in at 1.634 with a large stop based on the H&S (see chart). At the moment the retrace is still only to the 50% fib, despite the "good" UK mortgage approval news this morning. Is it a valid strategy to hold on even if it goes to the 61.8 fib or has it well and truly reversed?Any advice gladly (and humbly) received
This is what I posted yesterday...

Not sure whether it was luck or judgement.

Anyway, if my assumptions are correct, there will be a bounce around 1.6135 - it's hit that twice already so hopefully it'll break through. Not sure how low it'll go after that...
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  • #168,600
  • Sep 24, 2009 3:36am Sep 24, 2009 3:36am
Quoting nAVIN2007
fibo are useless on there own, its simly a retracement tool..cable has a habbit of obeying 50% retracement...so when it lines up with support or resistance..u have a probability
Good advice.... Newbies should seriously take notes.

How you mate? You on the green side NAV?
Veni, Vidi, Vici (We came, we saw, we conquered)
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