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Cable Update (GBPUSD)

  • #181,501
  • Nov 8, 2009 10:05am Nov 8, 2009 10:05am
Quoting nAVIN2007
http://i648.photobucket.com/albums/u...um/trade-4.gif

i think ur fibs are backwards
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,502
  • Nov 8, 2009 10:18am Nov 8, 2009 10:18am
I see all friends here and ready for the business
Happy new week full of pips to all
  • #181,503
  • Nov 8, 2009 10:19am Nov 8, 2009 10:19am
Quoting djambazov84
i think ur fibs are backwards
u know..thanks for pointing that out i went to a thread in weekend and manually put them in...i was thinking its wierd as well...i dont really use fibs so much..it wont really change my analysis on this..

i got it from here...only put them in 2 days ago
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  • #181,504
  • Nov 8, 2009 11:03am Nov 8, 2009 11:03am
Quoting Turveyd
Vounches are awarded for fitting in and towing the party line and as 95% of retail traders lose I view people with loads of vouches ie popular among losers as kinda negative.

ok..for the sake of this thread`s sanity
just drop it...just stop. instead post a chart or two with a trade call where ur 1m mov avgs converge in a trending environment and put ur money where ur mouth is by posting the trade if you took it. this way everybody could see ur point well illustrated for themselves and follow ur progress u can also say when did u close the trade and why u decided to do it. feel free to do it here so that we can all see for ourselves instead of this pointless dick swinging contest of who is the sharpest tool in the toolbox ok ?

and pls note that I am being EXTREMELY friendly and constructive
pls respond with the same if not i`ll know for sure that ur opinion is one to be disregarded with great encouragement because of the lack of value. please prove me wrong i REALLY do look forward to ur setups on charts we can ALL see because me personally i will always learn about this business till the day i place my last trade and i try to hold my self with very open mind and view that is a subject to change in every second.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,505
  • Nov 8, 2009 11:07am Nov 8, 2009 11:07am
Quoting djambazov84
ok..for the sake of this thread`s sanity
just drop it...just stop. instead post a chart or two with a trade call where ur 1m mov avgs converge in a trending environment and put ur money where ur mouth is by posting the trade if you took it. this way everybody could see ur point well illustrated for themselves and follow ur progress u can also say when did u close the trade and why u decided to do it. feel free to do it here so that we can all see for ourselves instead of this pointless dick swinging contest of who is the sharpest tool in the toolbox...

Forex: Last Close GBP/USD +800 Pips
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  • #181,506
  • Nov 8, 2009 11:08am Nov 8, 2009 11:08am
The Daily candle on Friday closed as a Doji, and the weekly-bullish.

Price closed friday in an uptrend 1hr/4hr, with daily t/f in a weak uptrend having seen a H, HL, LH then another HL, finding resistance at the descending potential resistance trend line on that t/f at the bottom of the previous swing hi=previous resistance=potential resistance zone on that t/f. The weekly t/f is in a range consolidation at the moment.
http://i34.tinypic.com/11j2ctu.jpg
http://i34.tinypic.com/9knya8.jpg

The 100sma remains above the 200sma on 1hr, 4hr and daily t/f although below on the weekly, above on the monthly.

Above current price and 6665-92 area is a previous 4hr and daily swing hi = previous resistance = potential resistance zone that intersects another daily t/f previous swing hi = prev res=potential res zone running 6689-6736 area in which the 76.4% fibb of the 7044-5707 fib resides @ 6724 area.

Below current price and 6312-6260 is a previous 1hr/4hr swing lo=previous support=potential support zone. Below that the 50%, 61.8% and 76.4% fibs of the 6260-6635 rise up @ 6447, 6403 and 6348 respectively, and below those a previous 4hr/daily swing lo zone resides @ 6302-6260

G/L to all for fothcoming week's trading.
ex member
  • #181,507
  • Nov 8, 2009 11:13am Nov 8, 2009 11:13am
Quoting djambazov84
ok..for the sake of this thread`s sanity
just drop it...just stop. instead post a chart or two with a trade call where ur 1m mov avgs converge in a trending environment and put ur money where ur mouth is by posting the trade if you took it. this way everybody could see ur point well illustrated for themselves and follow ur progress u can also say when did u close the trade and why u decided to do it. feel free to do it here so that we can all see for ourselves instead of this pointless dick swinging contest of who is the sharpest tool in the toolbox...

So you want me to make a PREDICTION as to where the market is going, when the market is actually as far as we are concerned closed, when the entire arguement here is well you can't predict anything, all you can do is see the trend and go with it.

Actually the few people who've PM'd me and say thanks for putting them on the right track would disagree with you on above, your too far into the prediction based side of trading to ever likely realise your error but others aren't, so for there sake let a opinion out side of the normal be heard.

And my 1-2 posts, then go and turn into a flame war, how childish is that!! Grow up people!!

And I've posted many a time the direction of the market and never once been called out as wrong, I deal in absolutes not fairy tales thanks.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,508
  • Nov 8, 2009 11:16am Nov 8, 2009 11:16am
Quoting kingrex
Forex: Last Close GBP/USD +800 Pips

impressive !
whether its a demo or real account nice MM just do not know why u dont have SL set and i see u bought the break of that small range before the breakout
correct me if i`m wrong
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,509
  • Nov 8, 2009 11:21am Nov 8, 2009 11:21am
Quoting Turveyd
So you want me to make a PREDICTION as to where the market is going,...

pls note AGAIN that i`m not flaming i just want to see a trade of urs done in real time with sl and tp if u dont mind i`ve posted numerous live trades with my immediate term so as to not to sound as predictive as possible cus i understand ur viewpoint and i do agree with it that a trend is a trend is a trend on every time frame
problem is sticking to only m1 trend trading/range trading is a part of a bigger picture which is a part of a bigger picture and so on on so forth
pls post a trade and do not be so hindsight-ish when u actially post about trades. i have followed ur posts for quite some time because i was really waiting for you to actually post a chart with a trade (forgive me if u did and i did not see it, its my bad and i`d be glad to get a link for the post).untill then u bring 0 value

i am not flaming u I am just having a discussion pls stick to the latter not to the former
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,510
  • Nov 8, 2009 11:27am Nov 8, 2009 11:27am
Quoting djambazov84
impressive !
whether its a demo or real account nice MM just do not know why u dont have SL set and i see u bought the break of that small range before the breakout
correct me if i`m wrong


No .. Take a look at the 4h chart from Sept 9 to Oct 12.

The price went plunging from 1.6750 to 1.5800.

My strategy took BUY the position where 1000 pip drop was in place.

A 300 pip drop from here is less likely. A 1000 pip drop from here is even more less likely.

Can't win em all eh?...

Priced peaked at 1.6692 around the 22nd Oct.

My strategy now is short at least 700 Pips maybe more.

Could take 1-3 weeks but with he massive head and shoulders formed on the daily chart its inevitable.
  • #181,511
  • Nov 8, 2009 11:30am Nov 8, 2009 11:30am
Quoting kingrex
No .. Take a look at the 4h chart from Sept 9 to Oct 12.

The price went plunging from 1.6750 to 1.5800.

My strategy took BUY the position where 1000 pip drop was in place.

A 300 pip drop from here is less likely. A 1000 pip drop from here is even more less likely.

Can't win em all eh?...

Priced peaked at 1.6692 around the 22nd Oct.

My strategy now is short at least 700 Pips maybe more.

Could take 1-3 weeks but with he massive head and shoulders formed on the daily chart its inevitable.
ye but would you short an eventual breakout of that trendline ?

i also like the risk:return because u can try to sacrifice 20-40 pips to get a good seat for a fat ride but i say that i can be done in both directions since cable is at a very crucial zone imo
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,512
  • Nov 8, 2009 11:31am Nov 8, 2009 11:31am
Anyone else's broker open now?

Mine opened at 2am Asia. It initially pulled back 3 pips and I left it . When I checked again it shot up tp 1.6675.

Currently at 1.6661

Likely to show a GAP UP on some platforms later.

EG
  • #181,513
  • Nov 8, 2009 11:38am Nov 8, 2009 11:38am
Quoting el grande
Anyone else's broker open now?

Mine opened at 2am Asia. It initially pulled back 3 pips and I left it . When I checked again it shot up tp 1.6675.

Currently at 1.6661

Likely to show a GAP UP on some platforms later.

EG
FXCM indicates 1.6660.
No Signal, No Trade. No fundamenals, No headache.
  • #181,514
  • Nov 8, 2009 11:38am Nov 8, 2009 11:38am
Quoting el grande
Anyone else's broker open now?

Mine opened at 2am Asia. It initially pulled back 3 pips and I left it . When I checked again it shot up tp 1.6675.

Currently at 1.6661

Likely to show a GAP UP on some platforms later.

EG
I see the sameThat my short term cycle point
http://money.cnn.com/data/currencies/index.html
  • #181,515
  • Nov 8, 2009 11:45am Nov 8, 2009 11:45am
Oanda is 1.6665 now with starting gap up +40pips
  • #181,516
  • Nov 8, 2009 11:47am Nov 8, 2009 11:47am
Re the ongoing argument above...there is definately evidence on this thread of traders allowing their fundamental view of this pairing affect their technical biais even when there is strong tech evidence/conditions that is in conflict with their overall fundamental view. We have seen many prolonged/sustained bullish rallys in longer term bearish trends and vice-versa, many times.

Of course it all depends on the t/f's you are looking at as to the technical situation. I, for one, although I am interested in the overall fundamental environment it does affect my technical trading decsions based on my technical trading edge played on very short t/f's.

The longer the t/f, the generally longer they obviously take to reach a designated stop or target limit and in the meantime, particularly on the t/f's below there may be other high probability oppportunities that are missed. The idea of sticking to a trade until a stop or limit is hit is basically sound as if your trading edge and money management employed with it is sound then a net gain will be realised over an given sample, and even if all looks lost...anything can happen and sentiment can quickly change.

G/L.
ex member
  • #181,517
  • Nov 8, 2009 11:50am Nov 8, 2009 11:50am
Quoting XTrade
Hi egkid,...

Hi X

I personally think since gold broke all the resistance towards new high it gets really dangerous.
Certainly the daily chart is showing just that atm with the bearish divergence. I am long dollar going into next week (selling the Euro) till gold test 1060 level & we'll see what happens from there on.

Good luck to you buddy
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Thank You
  • #181,518
  • Nov 8, 2009 11:51am Nov 8, 2009 11:51am
Quoting djambazov84
pls note AGAIN that i`m not flaming i just want to see a trade of urs done in real time with sl and tp if u dont mind i`ve posted numerous live trades with my immediate term so as to not to sound as predictive as possible cus i understand ur viewpoint and i do agree with it that a trend is a trend is a trend on every time frame
problem is sticking to only m1 trend trading/range trading is a part of a bigger picture which is a part of a bigger picture and so on on so forth
pls post a trade and do not be so hindsight-ish when u actially post about...

I've got a M1 only thread, I've posted numerous trades in there all with tight SL's and rarely a lose, 1 in fact which I stated this is against the system at the time which cost me badly, so go have a look, my M1 charts get laughed and attacked too much for me to bother, I only look for live setups not prediction based trades though.

I don't need a bigger picture a big picture creates to much uncertainty.

I exploit Bank Buy / Sell programs in short why I rarely see losses.

I rarely get time to actually trade too many other commitments but should ease soon then get back to full time plan for Jan all being well.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,519
  • Nov 8, 2009 12:02pm Nov 8, 2009 12:02pm
Hope you are well rested and ready for the week ahead.

I really hope for a nice large gap up when my broker open. Will place trades on only 2 pairs at present. EUR/JPY and GBP/JPY. (may place a small trade on GU as well - since there is mostly positive correlation to GBP/JPY)

Will short both EUR/JPY and GBP/JPY if we open at the current high levels.

Will also add sell limits every 20 pips above the opening price to a maximum of 3 additional positions, should price want to go higher first.

To target:

EUR/JPY - 133.30
GBP/JPY - 149.20

I know these are small targets, but these are the only clear trades for me at present. Should price come down to near Friday close levels before we open, the plan is off the table.

Wish you all success

Regards
  • #181,520
  • Nov 8, 2009 12:19pm Nov 8, 2009 12:19pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hello TT,

Check DT's thread. I have posted some imp info there.

Ta
ams


Quoting TauTrader
Hope you are well rested and ready for the week ahead.

I really hope for a nice large gap up when my broker open. Will place trades on only 2 pairs at present. EUR/JPY and GBP/JPY. (may place a small trade on GU as well - since there is mostly positive correlation to GBP/JPY)

Will short both EUR/JPY and GBP/JPY if we open at the current...
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