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Cable Update (GBPUSD)

  • #169,701
  • Sep 27, 2009 8:45am Sep 27, 2009 8:45am
Quoting nAVIN2007
hey chris can u do me a favour, actually any1 that reads this, i have 2 feed for cable dailly and the candles are completely different, the one i use on live account shows a bearish candle the blasted other one has a friggin doji...its not good that the feeds completely say different things...so can people plz post a dailly chart so i can compare...
Hi nAVIN,

Here are my 2 daily chart for GBP/USD. Your forex.ltd demo chart really strange.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu fxpro daily.gif Size: 42 KB
  • #169,702
  • Sep 27, 2009 8:46am Sep 27, 2009 8:46am
Quoting isguru
Sorry, from a newbie, here's my dailyone whihc clsed bearish, but the closing pryce was 1.59486.
That's scary....
Ghost Rider - WWTBMD?
  • #169,703
  • Sep 27, 2009 8:46am Sep 27, 2009 8:46am
[quote=wormboy;3096032]lol how long ago did I say 5300? Since June. look how many people "suddenly" see low levels now.
Anyway, we will test the highs of 6100 levels again before anything you can count on that. Daily close must be below 22nd - 26th May support before we tank big again.
This was put up early this month when asked by a friend for my targets when price dipped slightly below 6165:


LOLI see what u see
And i always standby my pending order when price come true me
Macam Menara Berkembar KLCC
Attached Image
GELORE
  • #169,704
  • Sep 27, 2009 8:49am Sep 27, 2009 8:49am
Quoting mattrader
Hi nAVIN,

Here are my 2 daily chart for GBP/USD. Your forex.ltd demo chart really strange.
i know scared the hell out of me.....makes a massive difference..thanks bro for the chart
  • #169,705
  • Sep 27, 2009 8:51am Sep 27, 2009 8:51am
Quoting nAVIN2007
i know scared the hell out of me.....makes a massive difference..thanks bro for the chart
No problem bro. Happy trading!
  • #169,706
  • Sep 27, 2009 8:51am Sep 27, 2009 8:51am
Quoting wormboy
lol how long ago did I say 5300? Since June. .

Oh come on now, claim "anything" long enough and it's bound to happen...

Kidding of course bro.......great vision....
Ghost Rider - WWTBMD?
  • #169,707
  • Sep 27, 2009 8:57am Sep 27, 2009 8:57am
Well im out now guys, see u next morning.
GELORE
  • #169,708
  • Sep 27, 2009 8:58am Sep 27, 2009 8:58am
Quoting albchr
Pretty much the same as you as far as needing to see the market open and some PA. I've also worked through a few mental/emotional issues and I believe I'm ready to attempt some slightly higher risk this week. My trading has been going well but the simple fact is, from such a small account I can't make enough to provide for me at current risk levels.

I'm not real happy about it and I certainly don't recommend it as a plan but I really need to make things happen here. Along with the few "real" trades I've made over the past few weeks, I've made...
Yip, that is quite a substantial leap/step. I guess the question begs as to how this will affect one's mentality. I have a similar issue at hand. Wanting to give myself a bit more exposure (it's time, based on the capital gains I have had over the past 2 weeks) - but I am not sure that I am mentally ready for this. I have tested a way for me forward in terms of higher exposure and will apply it this week if and when the market allows... this may assist me mentally in getting to the next tier...

Good luck to you and I have no doubt that you will come out a true winner.

Highest regards
  • #169,709
  • Sep 27, 2009 9:00am Sep 27, 2009 9:00am
Quoting nAVIN2007
im good bru..especailly after seeing yur chart..was kinda impt for me cause i cant get stoped out of the trade but based on yur chart as well....we should hopefully break lower....
how are u? .....enjoying the weekend? (no need to call me sir, nav is fine)
Wish you a strong week ahead!

Best wishes
  • #169,710
  • Edited 9:22am Sep 27, 2009 9:18am | Edited 9:22am
Sorry

Just tying about with trendlines on my demo when I psoted the previous chart, here's the chart from my live accountwith the closing pryce. tHAnks.
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  • #169,711
  • Sep 27, 2009 9:28am Sep 27, 2009 9:28am
Yes, I am flat at the mo, waiting to see what this wke brings. An other thng Ive learned is not to trade for the sake of it, when I dont have a clue what the market is doingI stay out and walk mydog instead!

Quoting isguru
Sorry

Just tying about with trendlines on my demo when I psoted the previous chart, here's the chart from my live accountwith the closing pryce. tHAnks.
  • #169,712
  • Sep 27, 2009 10:20am Sep 27, 2009 10:20am
I think euro is going to tank like pound

any one like to comment on euro
  • #169,713
  • Sep 27, 2009 10:47am Sep 27, 2009 10:47am
Quoting isguru
Helloooooooooo

I am not judging Malcomb and I am not criticising him or saying anything against him and I'm abt taken aback by half everone is saying about me being 'hard on him'.
I dont go looking for calls myself, and I have said Malcomb is a great tradwr but when he posts 'exact dates' e.g. on a previous posthe said 'on September 15th Cable will hit x price'; I'm just saying if you respect someone you sit uop and listen to them - that's not saying I amn not responsible if I take a trade that goes wrong based on listening to him....
I am sorry if something i said made you take trade that you lost money. This is forum for heated debates and eveyone to throw their ideas out..... if traders take these ideas and blindly follow them without good money management then they are at risk . Markets are dynamic. The down move that is under way now and look to be heading to 1.5500 could change ovenright if BOE decide to do surprise rate hike of 1% or something like that happens.

If you want a trading service i can recommend several good ones that give out signals , (none of which I have any thing to do with btw..I ran a trading room , we made 500 pip per month and all the clients did was whine I missed the other 2000 pip...all for $99 per month .. and they learnt how to trade .. forget it to much headaches)

I mentioned weakness on a weekly chart back on July 12th. I think that my sept 15th date was based on symmetry for x price .... if you note how markets move there is often symmetry of moves if the symmetry breaks then obviously the trend is changing . I wonder what I said for septmber 15th price to be at. google Carolyn Broden ..she has a book on market symmetry.

I have shown a chart below with syemmtry of moves....down moves and up moves being in symmetry ...target .15500 date 9th October..... OBVIOUSLY IF ANY OF THOSE SYMMETRYS BREAK WE HAVE TO ASK WHY

for example if gu does not reatrce from 1.5912 and just plough thru it , buyers are really just not interest and symmetry is changing ..... symmetry is on every time frame......daily on way up shows symmetry of down moves x 3 , then symmetry of down move broke... so the bull move was inevitable

now we have symmetry of moves on daily on way down , ending at 1,5800 then reatrce..... if reatrce is less than prior reatrce this is VERY BEARISH

NOW I HAVE TAUGHT YOU SOMETHING NEW THAT YOU WILL NOT SEE IN MANY BOOKS...ONLY ONE OR 2 WELL KNOWN TRADERS USE THIS.... THIS INFO IS PRICELESS

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #169,714
  • Sep 27, 2009 10:49am Sep 27, 2009 10:49am
Hi guys, I am new to this thread and forex. What is the resonable margin when I trade. I am currently trading with fxcm. I just opened the account . Their default margin is ,
CURRENT Margin Requirement:

FXCM UK 0.50% + Roll per 1 lot traded.


But they have 2 other options that I can change to,

1%+roll per 1 lot traded
2%+roll per 1 lot traded

Please any advise higly appreciated
  • #169,715
  • Sep 27, 2009 11:24am Sep 27, 2009 11:24am
Hi Malcomb
First, no need to apologies as you are NOT responsible for my trades, and you are a mentor to many, me included on this formu.

I'm a dad of 3, dyslexic (whne I'm not usng speech software, my typing is crap asyou see) with 2 degrees and out of work. All my kids are physicallyy disabled in wheelchairs and I have tp pay for a special school for each of them. I do mini0-cabbing and trade too to feed the family and dog, nbetter than stealing or being on the dole, and I've learned A LOT from your posts in the past, and present. Some days, I've thought, from my analysis the market is going one way, but because you've said 'it's going down on this date, I've not placed a trade or succumbed to your call in the opposite direction to my analyses, onyl to lose money, yet, I TAKE SOLE RESPONSIBILITY for this and, as I said earlier, the good thing is I'm nwo begining to understnd the resaonings behind some of your anaysis which, even when it doesn't happen on the date in question, is still very va.lid reasoning
I hve very highstandards and rarely call anyone a mentor, yet yuoare one, so no offnce ment in any of the posts I've made. I hpoe my apologyus accepted?
I'll get my spech recogntionsoftwr instlled tomorrw so I can strat typng strait okay!


Quoting malcolmb14
I am sorry if something i said made you take trade that you lost money. This is forum for heated debates and eveyone to throw their ideas out..... if traders take these ideas and blindly follow them without good money management then they are at risk . Markets are dynamic. The down move that is under way now and look to be heading to 1.5500 could change ovenright if BOE decide to do surprise rate hike of 1% or something like that happens.

If you want a trading service i can recommend several good ones that give out signals , (none of which I have...
  • #169,716
  • Sep 27, 2009 11:26am Sep 27, 2009 11:26am
s:1.5800
r:1.6250
Attached Image (click to enlarge)
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  • #169,717
  • Edited 11:42am Sep 27, 2009 11:33am | Edited 11:42am
My view on 13th September:


http://www.forexfactory.com/showpost.php?p=3052516&postcount=165189
All targets have been hit and we are now at the 16000/16100 area I speak of above.
　
　
　
My current view:

Still holding Short Cable 16683, GBP/JPY 15220. TP ’s have been taken at various levels on the way as shown in previous charts in the thread.

I think we will not see a bounce from here. We may rise 100 pips or so, but I expect large scale selling into any rise.

I am lowering my ultimate targets to 135 on Cable, 118 on GBP/JPY and will continue to sell all rallies.

GBP/JPY next target 14093 (50% Fib of rise from 18882), other targets shown on chart.

Cable next target 15689 (50% Fib of rise from 13501), other targets shown on chart.

PS Don't trade it because I said it, trade your charts
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  • #169,718
  • Edited 12:09pm Sep 27, 2009 11:53am | Edited 12:09pm
Entry point strategy to get long:

Standard lot at 1.0855 (the friday bottom) to 1.09
SL at 1.0691
First TP at 1.12 23.6% fibonacci
2nd TP at 1.545 38.2% fibonacci

Dear Ali Bhai

This is for you only.

I recommend a long entry in USD/CAD. The daily chart show a double bottom and the break of the descending triangle in the opposite direction confirm the bias too remian long with USD/CAD. The minimum price objective is 1.17. As the price closes well above the decending traingle. the risk of downside remians low. But we still remian to be on the defensive side the 21 day SMS support is 1.0822 the price will definitely test that support and than shoot up.The friday price closses above the 55 day SMA has strengthen out stance. The 55 day RSI is also showing a decent double bottom and uptrend. As per the classical technical analysis .

If you are a very short term trader you can also work with a small fib which i draw and book your proft accordingly. But eat like a big fish 200 pip loss and 500 pip gain.

The price action on daily chart has attempted three time to break the below the double bottom and ti fails we will see up up and up. First resistance will be 1.1092 (dont worry unless something go fundametally worng it is up my friend.)

Besides that my friend one suggestion this pair is much oilbased rather than fundamental based so avoid these type of pairs.

Take care

East or west we are the best. (Marketsinfer)
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  • #169,719
  • Sep 27, 2009 12:00pm Sep 27, 2009 12:00pm
Quoting direct-trade
my view on 13th september:


[size=3][font=arial]http://www.forexfactory.com/showpost.php?p=3052516&postcount=165189
[font=arial]all targets have been hit and we are now at the 16000/16100 area i speak of above.
　
　
　
[font=arial][size=2]my...
can you share your valuable view on euro plzzz
  • #169,720
  • Sep 27, 2009 12:03pm Sep 27, 2009 12:03pm
Quoting direct-trade
Not a bad week.

I am not going to say "I made a gazillion pips blah blah blah", as that is quite pointless.


What I will say though, is I have a smile on my face....tired after this week, but smiling.

Trading is my full time job and sole source of income, I treat it as a business, so when the market moves quickly I hope you understand I am not able to post as much. However, I hope my charts and analysis over the last few weeks have been of benefit to a few, your charts and views are appreciated by me also.

I will update charts and analysis...
They sure did help me out DT....many thanks!! Getting to stay in the good positions for longer, well done on gu & gj
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