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Cable Update (GBPUSD)

  • #181,441
  • Nov 6, 2009 12:49pm Nov 6, 2009 12:49pm
Quoting rebelheart
If we can break this trend line in the next few 15 min candles we could get a nice short for 50 pips..
Maybe on Sunday/Monday. Its Friday afternoon (here in NYC). Most of the volume is gone for the weekend n there is no major news scheduled for this evening.
Failure is NOT an option
  • #181,442
  • Nov 6, 2009 1:23pm Nov 6, 2009 1:23pm
Quoting LetsTrade
The last three 4 hour charts have small bodies with long tails.
So did my last 3 girfriends but I couldn't get em to go down

They did purr though
  • #181,443
  • Nov 6, 2009 1:24pm Nov 6, 2009 1:24pm
Quoting allserene
So did my last 3 girfriends but I couldn't get em to go down
Buwahahahahaha

Definitely worth stopping in for!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,444
  • Nov 6, 2009 1:40pm Nov 6, 2009 1:40pm
Quoting isguru
I've got a sell order open from 1.654 today, errm, if it's going up to 1.69 or 1.7 before coming down 'sometime next week' I'm in trouble.

There's a huge difference between 'some hours' and 'even next week' bro. - what do you all reckon, still going South tonight cos it doesn't look like it is/

going south..but u have to hold...maybe 2-4 weeks more to get benefit

be strong
  • #181,445
  • Nov 6, 2009 1:47pm Nov 6, 2009 1:47pm
Quoting egkid
Anyone still open sell?
So far no profit no loss With GBP
It's like feeling of lose all day work hard and till this moment no + or -
This here is the critical point for the month. Speaking long term, the monthly chart's high on this candle is just under last months high, so if it breaks that it should go up to the 1.7000 area, which happens to be the 138.2 fib line on the daily chart. If it doesn't break this point it should go down to a minimum of 1.5725.

Like I said though this is a long term range using the monthly fibs on the daily chart. Shorter terms change and fluctuate all the time. Today was a beautiful day. I made 350 pips riding both longs and shorts.

Play the fibs, they are never wrong. If you think they are wrong you screwed up and you need to reanalyze. Targets for the fibs are always 138.2 and 161.8. Targets to play for the retraces are the 61.8 through 23.6 fibs. It hits them like clockwork. If it doesn't break the 100 or 0 fibs you are playing inside candles.
  • #181,446
  • Nov 6, 2009 2:00pm Nov 6, 2009 2:00pm
Quoting nAVIN2007
going south..but u have to hold...maybe 2-4 weeks more to get benefit

be strong
Nav...

Sheesh man, Hold for 2-4 weeks to get more benefit? How about some benefit?

IF, this was in fact the case, that you would have to hold for 2-4 weeks to profit, WHY BOTHER TRADING?

I know you got some new fancy hold system that you are working on, but seriously, this short mentality has cost you not only profits from playing the wrong chart, but also potential gains you could have made by playing the actual chart.

This boy who called bear thing...hasn't it gone on long enough?

Have you even looked @ a weekly chart?

Because you are playing with peanuts, I don't think it is really fair that you hold forecasts for others who are not.

I think caution should be exercised by all traders, if you are in a position where the charts don't look in your favor, EXIT, PLAIN AND SIMPLE.

The market isn't going to end next week, there will be plenty of gain opportunity.

I used to see your charts and opinions as a valued addition to this forum and I know I am probably going to get slammed by others now, but, I think it might be time you go back to the drawing board my friend, this one doesn't seem to really be working all too well, and you seem to be leading others to account suicide.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,447
  • Nov 6, 2009 2:01pm Nov 6, 2009 2:01pm
Why it didn't drop No much buyer of us$!! Seems we will go higher!!
Any way i closed all and happy weekend all
  • #181,448
  • Nov 6, 2009 3:37pm Nov 6, 2009 3:37pm
Quoting Magix
Nav...

Sheesh man, Hold for 2-4 weeks to get more benefit?...
actually i do this a lot and why i cut down on my post cause i can see how poeple may end up in trouble...

this is normal for me on a demo, not quite on a live thou
point noted my friend
  • #181,449
  • Edited Nov 7, 2009 10:36am Nov 6, 2009 5:15pm | Edited Nov 7, 2009 10:36am
Quoting Magix
Nav...

Sheesh man, Hold for 2-4 weeks to get more benefit? How about some benefit?

IF, this was in fact the case, that you would have to hold for 2-4 weeks to profit, WHY BOTHER TRADING?

I know you got some new fancy hold system that you are working on, but seriously, this short mentality has cost you not only profits from playing the wrong chart, but also potential gains you could have made by playing the actual chart.

This boy who called bear thing...hasn't it gone on long enough?

Have you even looked @ a weekly chart?

Because you...
Nav Trades with me and he is a great asset to our trading group and dont ever come on here and chat shit about some one trading demo or little accounts.........here blow this....... My account over the last 5 trading sessions....

I never talk about my account as I aint a big trader like some of you never ever put down another trader.............
Let Price determine your future!
  • #181,450
  • Nov 6, 2009 5:34pm Nov 6, 2009 5:34pm
Quoting Geppyg
Nav Trades with me and he is a great asset to our trading group and dont ever come on here and chat shit about some one trading demo or little accounts.........here blow this....... My account over the last 5 trading sessions....

I never talk about my account as I aint a big trader like some of you never ever put down another trader.............
You did say 5 trading sessions didn't you, I don't suppose you left a 0 off the end did you? Only joking....fantastic result
  • #181,451
  • Nov 6, 2009 5:43pm Nov 6, 2009 5:43pm
case study is on my blog as I promised. enjoy
  • #181,452
  • Nov 6, 2009 6:55pm Nov 6, 2009 6:55pm
see my chart
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  • #181,453
  • Nov 6, 2009 7:11pm Nov 6, 2009 7:11pm
Quoting manize
Breaks 1.6630 goes to the sky !
see my chart in above
  • #181,454
  • Nov 6, 2009 8:58pm Nov 6, 2009 8:58pm
Quoting riskyachtar
see my chart in above
That is exactly where my 100 fib line is so I am in total agreement with you. If it breaks that it is going to at least the 138.2 or 161.8 fib which would be about 1.67250 and 1.67500 respectively. From there we would get the bears on board for a retracement and then once the ride down finishes, we should be able to ride it up to the 1.7000 mark. If it doesn't break that 1.6630 point, then prepare for a very large drop which would break the 1.57250 mark.
  • #181,455
  • Nov 6, 2009 9:17pm Nov 6, 2009 9:17pm
Quoting Ctic
That is exactly where my 100 fib line is so I am in total agreement with you. If it breaks that it is going to at least the 138.2 or 161.8 fib which would be about 1.67250 and 1.67500 respectively. From there we would get the bears on board for a retracement and then once the ride down finishes, we should be able to ride it up to the 1.7000 mark. If it doesn't break that 1.6630 point, then prepare for a very large drop which would break the 1.57250 mark.
with fibo
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  • #181,456
  • Nov 6, 2009 11:45pm Nov 6, 2009 11:45pm
Good day to you all,

Some very good results achieved!

Well done...

Now that, to me, is what I call a MOTIVATOR!

Regards
  • #181,457
  • Edited 2:23am Nov 7, 2009 2:05am | Edited 2:23am
I know the relation between gold and us$ but i read this and hope someone give more explanation how is that happen .
"topping $1,100 an ounce, on mounting speculation that low U.S. borrowing costs"

If so i think us should have buy hugh quantity of gold,Right?

I read this and i think it's important so thought to post it "Copy"--------
Recent declines in Europe’s single currency stalled Nov. 3 at the 76.4 percent Fibonacci retracement of the rally from the euro’s Oct. 2 low of $1.4481 to its Oct. 26 high of $1.5063, Citigroup said. The euro may now gain to $1.5064 with a “firm” break of that level opening up a move to $1.5285,
“At this stage it appears as though the correction down is over and the general uptrend is back in play,” according to the Citigroup team, led by chief technical analyst Fitzpatrick. “The recent highs at $1.50-plus will be tested again.”

Thanks
  • #181,458
  • Nov 7, 2009 2:22am Nov 7, 2009 2:22am
Week is over. What is the result. Mine is +0.5% in 2 days after main work
  • #181,459
  • Nov 7, 2009 3:26am Nov 7, 2009 3:26am
Quoting Geppyg
Nav Trades with me and he is a great asset to our trading group and dont ever come on here and chat shit about some one trading demo or little accounts.........here blow this....... My account over the last 5 trading sessions....

I never talk about my account as I aint a big trader like some of you never ever put down another trader.............
thanks bro
thank u for yur words
  • #181,460
  • Nov 7, 2009 3:47am Nov 7, 2009 3:47am
Quoting maxss280
From what I understand if the dollar has bad news that would make it weak causing the GBPUSD to go up. Right?? However, just now we had horriable news for the USD but it made it stronger causing the GBPUSD to go down. Could someone clarify this for me. THANKS A BUNCH!
This was most confusing... I had the same observation, perhaps there is something we are not taking into account here. Although the release was very poor, more than forecasts, the UK is still slow in signs of recovery from recession. Still one would have thought this would have propelled cable higher.

I am wondering also why so many are always short? i read this thread daily sure I miss some posts but what about longs from week open?
To me the trend has been up all week. That's what the chart says.

I know some people only trade or prefer to play shorts. But a stack of longs from week open @ could have been placed @ 6300 or say 6320/ 6330 (for confirmation and ridden all the way to the highs near 6400. serving up 300+/- pips alone per lot - Not to say there were not multiple short opportunities, but,

Just seems to me the longs this week had far more potential than shorts. Not even necessary to hold for over days, the daily lows since the open were not lower than one another once this week. Possibly offering up more opportunities to long. Now we are in a confusing point.

Closed all longs last night before news. Next week should be very interesting! Just my take.
X-

Simple chart below. Cable H1
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