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Cable Update (GBPUSD)

  • #183,241
  • Nov 17, 2009 12:27am Nov 17, 2009 12:27am
Oh well, it looks like the bulls are still in charge. Taken a long with target of 1.7
  • #183,242
  • Nov 17, 2009 12:33am Nov 17, 2009 12:33am
Quoting Reznik
Good day U all... Looks like today is day to make profits. Magix what's your take on the cable. Up or Down....
I still got love for the bulls in my heart, but maybe because thats because they been so good to me today...

HOWEVER...

The massive uptake did hit a major daily resistance on my charts and seems to be following direction of gold. Now, I took a short on gold last night to fill the gap, and well, that didn't turn out so well fortunately took a cool 56 to cover the losses on it today.

AS the gap still not filled, we might see a week like last, up like a rocket only to come down..Have traders so busy chasing their tales that a coin toss was almost a better indicator then using the charts.

I will wait for close over 24 SMA on 30 min chart to continue the long, but do see the next possible support area with 200EMA on 5m chat, which just happens to sits right below 1.68....HRMMMMMMM wonder who planned that????

At this point, because we have all mixed time frames, the smart money sits...

The gambler specs a play @ 1.68 and runs a stop loss @ 1.6775.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,243
  • Nov 17, 2009 1:04am Nov 17, 2009 1:04am
Watch the make of the Dollar... The most popular currency goes to the Skyies. Ups!! My bad...
  • #183,244
  • Nov 17, 2009 1:05am Nov 17, 2009 1:05am
Well, doesn't that just punctuate the close of an hour and confirm the 30m....

Gamblers have it...waiting for a pull back to support, and a close of confirmation on the 30m.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,245
  • Nov 17, 2009 1:05am Nov 17, 2009 1:05am
G Morning, Coffee brewed ready for action and it's a nie sunny day. Feel like bursting into song
IMHO Same conclusion as Magix reasons:
ABC correction start of probable wave 1 or A..gator closing jaws but conflicting Stoch signal on ltfs wait for bear reversal
Sod it, it's just done it whilst I've been typing! still nice to right
  • #183,246
  • Nov 17, 2009 1:10am Nov 17, 2009 1:10am
Quoting forexlion
GU will tank to 1.6660 before taking on 1.7374
1.675 then 1.6670
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #183,247
  • Nov 17, 2009 1:14am Nov 17, 2009 1:14am
See my take... USD is UPward till the US session. But I forsee a drop back in the volume traded till after the news... So the smart money sits this out. Now I am holding a LONG...
  • #183,248
  • Nov 17, 2009 1:18am Nov 17, 2009 1:18am
Statistical probabilities still say that within the next 30 hours we will be back to 1.672x area....but why not play the trend when it makes sooooooo much money....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,249
  • Nov 17, 2009 1:22am Nov 17, 2009 1:22am
I'm throwing a short/I took a short at 857
  • #183,250
  • Nov 17, 2009 1:27am Nov 17, 2009 1:27am
Quoting Yngwie
1.675 then 1.6670
Sold 1 lot at 1.6853 and more sell order at 1.6865
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #183,251
  • Nov 17, 2009 1:30am Nov 17, 2009 1:30am
Quoting Reznik
See my take... USD is UPward till the US session. But I forsee a drop back in the volume traded till after the news... So the smart money sits this out. Now I am holding a LONG...
No real direction yet major currencies all stalling.. scalping in a 60 pip tunnel . I'm in the smart money and as you suggested I'll wait for the news unless the indicators give a def signal.
I asked yesterday but being reading up on alternative price projection ratios working a little like moveable fibs. Can we can get this bolt on for MT4
  • #183,252
  • Nov 17, 2009 1:35am Nov 17, 2009 1:35am
Quoting Chumbawunga
No real direction yet major currencies all stalling.. scalping in a 60 pip tunnel . I'm in the smart money and as you suggested I'll wait for the news unless the indicators give a def signal.
I asked yesterday but being reading up on alternative price projection ratios working a little like moveable fibs. Can we can get this bolt on for MT4
If your interested in self correcting fibs for all time frames...check out this one...got it on my charts, use it with confirmation of moving averages.....

In the inputs, if you select false on the Show Guage...it takes away some of the crap...
Attached File(s)
File Type: mq4 TRO_forexgreenland.mq4   16 KB | 409 downloads
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,253
  • Nov 17, 2009 1:41am Nov 17, 2009 1:41am
Quoting Chumbawunga
No real direction yet major currencies all stalling.. scalping in a 60 pip tunnel . I'm in the smart money and as you suggested I'll wait for the news unless the indicators give a def signal.
I asked yesterday but being reading up on alternative price projection ratios working a little like moveable fibs. Can we can get this bolt on for MT4
In MT4 you'll find under fib expansion......go to insert / fibonacci / expansion.....
Trading Levels with WRBs
  • #183,254
  • Nov 17, 2009 1:45am Nov 17, 2009 1:45am
GBP going to 6900 in short run, :-)
  • #183,255
  • Nov 17, 2009 1:49am Nov 17, 2009 1:49am
Quoting Magix
If your interested in self correcting fibs for all time frames...check out this one...got it on my charts, use it with confirmation of moving averages.....

In the inputs, if you select false on the Show Guage...it takes away some of the crap...
Yep already got this one .. you recommended it last week and I installed it. Fantastic thnx

Chum
  • #183,256
  • Nov 17, 2009 1:50am Nov 17, 2009 1:50am
Quoting Islander
In MT4 you'll find under fib expansion......go to insert / fibonacci / expansion.....
theres a way to set the regular fib in mt4 with the extensions all in one.I did a search on the web and found it
  • #183,257
  • Nov 17, 2009 1:50am Nov 17, 2009 1:50am
Quoting Islander
In MT4 you'll find under fib expansion......go to insert / fibonacci / expansion.....
Thnx I'll try it out.
  • #183,258
  • Nov 17, 2009 1:54am Nov 17, 2009 1:54am
Quoting Chumbawunga
Yep already got this one .. you recommended it last week and I installed it. Fantastic thnx

Chum
Last week, most people still had me on ignore....

Buwahahahahhah
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,259
  • Nov 17, 2009 1:55am Nov 17, 2009 1:55am
Quoting Magix
Last week, most people still had me on ignore....

Buwahahahahhah
  • #183,260
  • Nov 17, 2009 1:58am Nov 17, 2009 1:58am
Level
0
0.146
0.236
0.382
0.5
0.618
0.786
0.86
0.942
1
-0.18
-0.27
-0.382
-0.618
-1
-1.618
-3.236 Description
0.0 - %$
14.6 - %$
23.6 - %$
38.2 - %$
50.0 - %$
61.8 - %$
78.6 - %$
86.0 - %$
94.2 - %$
100.0 - %$
118.0 - %$
127.0 - %$
138.2 - %$
161.8 - %$
200.0 - %$
261.8 - %$
423.6 - %$
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