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Cable Update (GBPUSD)

  • #182,361
  • Nov 11, 2009 11:39pm Nov 11, 2009 11:39pm
Quoting Magix
Hope all your shorts here got some stop losses in place.

I am not calling this a long chart, but be cautious of market correction on the short cycle.

IMO, if you missed shorting from a higher high, you will still get a nice play area.

Play safe!

M
Talking about cable?????
Would you say more with a chart....
Thanks
Non licet omnibus adire Corinthum
  • #182,362
  • Nov 11, 2009 11:41pm Nov 11, 2009 11:41pm
Hi Magix,

Are you with a position? If you don't mind my inquiry.


BTW, do ot trust gold retracement. Many took shorts @ 1050 + to met by a kiss of 1120. these are BIG moves for gold. It is about time. Silver will follow. Not a matter of if, but when....


Quoting Magix
Hope all your shorts here got some stop losses in place.

I am not calling this a long chart, but be cautious of market correction on the short cycle.

IMO, if you missed shorting from a higher high, you will still get a nice play area.

Guess...1.6580-1.6595 area

Play safe!

M
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #182,363
  • Nov 11, 2009 11:45pm Nov 11, 2009 11:45pm
Quoting XTrade
Hi Magix,

Are you with a position? If you don't mind my inquiry.
Sadly, without bag in hand. As I was away from market today, and never had confirmation on a 4 hr chart, I was not able to take advantage of the play.

I am not basing my forecast on other currencies or on the metals, just on the charts.....

Will post real quick like!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,364
  • Nov 11, 2009 11:45pm Nov 11, 2009 11:45pm
Quoting javajames
Talking about cable?????
Would you say more with a chart....
Thanks
Cooking one up for you right now...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,365
  • Nov 11, 2009 11:47pm Nov 11, 2009 11:47pm
half hour is oversold .. so bull for a bit ... h4 is a bit iffy .. directionless a bit ...
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  • #182,366
  • Edited Nov 12, 2009 12:05am Nov 11, 2009 11:54pm | Edited Nov 12, 2009 12:05am
Given market movement and the general of how things work...

On a standard, all sessions get a fair kick at the cat, it is what keeps the market fair. A first dip down was to me an indicator of a short chart, which is why I have been tending to the bear side for the last couple of days.

Most breaches take 2x run before a breach and hold, and I am seeing this on the day. Daily chart shows possible upside range, as I play by moving averages, it is hard to hit an actual target for exacts...thus the moving averages.

Hope some of you took the time to have a look at indicators and template posted earlier today, feel free to hit me with questions if ya got em!



My charts are based on my opinion of movement, please use your own analysis for trading.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,367
  • Nov 11, 2009 11:55pm Nov 11, 2009 11:55pm
my 4H strongly shows going south. Got a pos at 1.6610, pips in pockets. TP will be at 1.6520
Trade what you see. Write what you feel
  • #182,368
  • Nov 12, 2009 12:11am Nov 12, 2009 12:11am
Quoting mloistianto
My Lovely TL and my trade..

Target? 1.6265.. LOL.. in my dream, but in this case, i hope my dreams come true.. btw i'm just a newbie please dont follow anything.. do it with your own risk..
How long this will hold.. Hmmm..
  • #182,369
  • Nov 12, 2009 12:12am Nov 12, 2009 12:12am
Quoting Magix
Given market movement and the general of how things work...

My charts are based on my opinion of movement, please use your own analysis for trading.
I was wrong on gold.....you might be right with your analysis....and I'm already out with a very small +2 pips...

Just a question how long you been in that business ?

BTW I'm for sure the only one I trust for my trades....but I also like to exchange opinions with others, especially to understand THE WHY of their reasoning process....

GL
Non licet omnibus adire Corinthum
  • #182,370
  • Nov 12, 2009 12:16am Nov 12, 2009 12:16am
Quoting javajames
Just a question how long you been in that business ?

GL
If you mean how long have I been trading currency, in short and as a rudimentary description, I am still s4itting yellow. I am a hobbiest, just love the movement.

If you mean in my real business, 13 years to the DAY! In literal terms, I am the Cable guy.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,371
  • Nov 12, 2009 12:23am Nov 12, 2009 12:23am
Quoting Magix
If you mean how long have I been trading currency, in short and as a rudimentary description, I am still s4itting yellow. I am a hobbiest, just love the movement.

If you mean in my real business, 13 years to the DAY! In literal terms, I am the Cable guy.

no how long in trading....experience makes a lot in that business.....
Non licet omnibus adire Corinthum
  • #182,372
  • Nov 12, 2009 12:26am Nov 12, 2009 12:26am
Quoting javajames
I agree with you, we might grab some pips on the downside....but my target is clear it will be 1200 be4 end of year....and maybe end of next week
Mrn all,
GOld is overbought and also Aussie. AU have already started showing visible signs. When the present support is broken then be sure to go south.
  • #182,373
  • Nov 12, 2009 12:28am Nov 12, 2009 12:28am
Quoting javajames
no how long in trading....experience makes a lot in that business.....
I have been a penny professor and charting over the last 7 years. I have been teaching and tutoring for 5 of those years.

My birth into the forex markets dates back to just over a year ago, which I suffered GRAND loss, playing the same ideology.

I have been working on adapting my penny market logic, and using the benefits of the free tools offered on the MT4 charts to refine a basic system that even a guy like me can understand and profit from.

Confucius says, it is better to be a smart fellar, then a fart smeller!
Words to live by.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,374
  • Nov 12, 2009 12:34am Nov 12, 2009 12:34am
Quoting Magix
Hope all your shorts here got some stop losses in place.

I am not calling this a long chart, but be cautious of market correction on the short cycle.

IMO, if you missed shorting from a higher high, you will still get a nice play area.

Guess...1.6580-1.6595 area top, 1.6668

Play safe!

M
Kinda weird how that one worked out hey?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,375
  • Nov 12, 2009 12:48am Nov 12, 2009 12:48am
No need to wait around for hours.

Here's a trading opp for anyone who has
an itchy trigger finger. Look at how tightly
compressed these 9 ema's (6 - 144) are on
the 15m charts for both the EJ and the UJ.
There will always be a significant breakout
when these ema's release into separation.

Dr. D.
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  • #182,376
  • Nov 12, 2009 1:05am Nov 12, 2009 1:05am
Quoting Magix
Kinda weird how that one worked out hey?
you too need to cut a dozen of moving averages and indicators from that chart to be able to read something
When life gives you lemons, make lemonade
  • #182,377
  • Nov 12, 2009 1:05am Nov 12, 2009 1:05am
Quoting Magix
Kinda weird how that one worked out hey?
Yes for sure you'll always find one which works....lol....more seriously I'm happy it works for you....
Non licet omnibus adire Corinthum
  • #182,378
  • Nov 12, 2009 1:08am Nov 12, 2009 1:08am
I agree.. Would have liked to seen your read earlier in the market tonight
as well! Thanks for posting!

We saw the first bump up. there has been a LOT of down. If we do not break resistances up

As it seems any up is being REJECTED! (as of yet!)

.66400 - cable

Looking down @ cable
6530 area first
old resistance / old support 6400
last 6250

Magix, no I do not base my FX on metals. I try now to keep the 2 separate.
Thank you for your post!

(I invest in AG/AU as well as buy and sell some physical bullion and some numismatic gold)




Quoting fourxtrader
No need to wait around for hours.

Here's a trading opp for anyone who has
an itchy trigger finger. Look at how tightly
compressed these 9 ema's (6 - 144) are on
the 15m charts for both the EJ and the UJ.
There will always be a significant breakout
when [i][color=#4169e1]these...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #182,379
  • Nov 12, 2009 1:09am Nov 12, 2009 1:09am
Well guys, as I said before, the charts I post are my opinion, they are not my charts nor my indicators, just my best loose interpretation of the way things work.

Best o luck to ya

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,380
  • Nov 12, 2009 1:10am Nov 12, 2009 1:10am
Sell 1.6586 SL 1.6595 TP 1.6452
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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