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Cable Update (GBPUSD)

  • #190,281
  • Dec 31, 2009 4:52am Dec 31, 2009 4:52am
Nice chart, I have my SL in a bit under 1.61, I wonder if I should drop it lower.

Quoting nAVIN2007
look at the monthly chart..i have attached a chart to illustrate why this is going up ..firstly we in a range so there no trend as such..but anything below 1.60 has rejected as price hasnt managed to close below these levels on a big scale

hope the chart helps




this may prove to be very profitable
  • #190,282
  • Dec 31, 2009 4:53am Dec 31, 2009 4:53am
The Process To Be Completed...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GbpUsd-12-31.gif Size: 23 KB
Click to Enlarge Name: GbpUsd-12-31(1).jpg Size: 100 KB
* Never Trust To Any Indicator *
  • #190,283
  • Dec 31, 2009 4:57am Dec 31, 2009 4:57am
Quoting nAVIN2007
look at the monthly chart..i have attached a chart to illustrate why this is going up ..firstly we in a range so there no trend as such..but anything below 1.60 has rejected as price hasnt managed to close below these levels on a big scale

hope the chart helps

this may prove to be very profitable
Thanks nAVIN2007,
The chart helps well. and I have the same thoughts with you.
The only thing concerned me is the time of the year.
May be we will find a nice by signal @1.60 area.

Good luck with trading.
  • #190,284
  • Dec 31, 2009 5:04am Dec 31, 2009 5:04am
hi baby trader

can you recommend me some books that you read when you were beginning to trade. thanks
  • #190,285
  • Dec 31, 2009 5:07am Dec 31, 2009 5:07am
Quoting Baby-Trader
Thanks nAVIN2007,
The chart helps well. and I have the same thoughts with you.
The only thing concerned me is the time of the year.
May be we will find a nice by signal @1.60 area.

Good luck with trading.
yes the way the weekly is looking, it certainly implying that 1.60 area is providing support..just need to wait to see what price action does around 1.60-1.59..a pin on dailly or something will certainly add weight to the idea

anyway right now its just a thought..monlthy is still bearish so signal will come just have to wait..

be lucky
  • #190,286
  • Dec 31, 2009 5:14am Dec 31, 2009 5:14am
I always get yelled at for posting large pics, hopefully this is okay.

Anyways, it's only a 4hr chart, but after that downtrend line and 1.63 area resistance, 1.66/67 looks to be in play.

http://i49.tinypic.com/2u56g46.jpg



Quoting nAVIN2007
look at the monthly chart..i have attached a chart to illustrate why this is going up ..firstly we in a range so there no trend as such..but anything below 1.60 has rejected as price hasnt managed to close below these levels on a big scale

hope the chart helps




this may prove to be very profitable
  • #190,287
  • Dec 31, 2009 5:15am Dec 31, 2009 5:15am
Quoting Nomi1
hi baby trader

can you recommend me some books that you read when you were beginning to trade. thanks
hope it will help, but for your info, I still reading & reading and every day i learn a new thing

Technical
1- Encyclopedia of Chart Patterns, 2nd Edition
2- Prechter_ Robert - A Comprehensive Course On The Wave Principle
3- Trading Strategies for Trending and Range-Bound Markets
4- Forex Wave Theory - A Technical Analysis for Spot and Futures Curency Traders
4- Ichimoku Charts.pdf
5- Dynamic_Trading_by_Robert_Miner (excellent)

Psyco:
1-Mark_Douglas_-_Trading_in_the_Zone
2-DOUGLAS,_Mark_The_Disciplined_Trader
3-The Secrets to Emotion Free Trading by Larry Levi
4-Forex Misc - Money Management and risk managment.pdf
5-Left Brain Trading - The Right Mindset and Technique for Success in Forex
6- Maxwell_Maltz-_Psycho-Cybernetics
7- Face the Trader Within - Chris Lori_ CTA
  • #190,288
  • Dec 31, 2009 5:18am Dec 31, 2009 5:18am
Quoting forextine
I always get yelled at for posting large pics, hopefully this is okay.

Anyways, it's only a 4hr chart, but after that downtrend line and 1.63 area resistance, 1.66/67 looks to be in play.

http://i49.tinypic.com/2u56g46.jpg

f**k em
that what i say..


good trading..
  • #190,289
  • Dec 31, 2009 5:20am Dec 31, 2009 5:20am
Quoting GlobalMacro
Bearish momentum subsided today
Cable tested former down TL around 1.5920 and bounced

As such I'm buying here @ 1.5955 ...just below yesterday's stopout level anticipating re-entry into prior range zone.


Merry Christmas!

Cable bulls gaining momentum after yesterday's Short Squeeze ensuing the bear trap -- as I anticipated.

Market now trading @1.6170 -- my long position up 215 pips...


I Will Continue To Carry My Long Position Set @ 1.5955 For Now ...


Happy New Year Everyone!
Attached Image
Hear the music before the song is over ...
  • #190,290
  • Dec 31, 2009 5:22am Dec 31, 2009 5:22am
Quoting forextine
I always get yelled at for posting large pics, hopefully this is okay.

Anyways, it's only a 4hr chart, but after that downtrend line and 1.63 area resistance, 1.66/67 looks to be in play.

http://i49.tinypic.com/2u56g46.jpg

Bingo
Attached Image (click to enlarge)
Click to Enlarge Name: range1.gif Size: 18 KB
  • #190,291
  • Dec 31, 2009 5:23am Dec 31, 2009 5:23am
Any target? Usually after +300pips I get kind of sloppy and take profits too early, not sure where to place an SL etc, still learning this longer term trade "method".



Quoting GlobalMacro
Cable bulls gaining momentum after yesterday's Short Squeeze ensuing the bear trap -- as I anticipated.

Market now trading @1.6170 -- my long position up 215 pips...


I Will Continue To Carry My Long Position Set @ 1.5955 For Now ...


Happy New Year Everyone!
  • #190,292
  • Dec 31, 2009 5:24am Dec 31, 2009 5:24am
Quoting Baby-Trader
Bingo
Nice chart
  • #190,293
  • Dec 31, 2009 5:25am Dec 31, 2009 5:25am
Quoting GlobalMacro
Cable bulls gaining momentum after yesterday's Short Squeeze ensuing the bear trap -- as I anticipated.

Market now trading @1.6170 -- my long position up 215 pips...


I Will Continue To Carry My Long Position Set @ 1.5955 For Now ...


Happy New Year Everyone!

Hello Mr GM,
this is the difference between expert like you & a newbi like me.
I closed my long position taken @ 1.5870 @1.6080 for +210 pips.

Hope I can find a station to ride the train with you for 1.67
  • #190,294
  • Dec 31, 2009 5:27am Dec 31, 2009 5:27am
Does someone agrees with me that Gu will be good sell at 1.62354?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 25 KB
  • #190,295
  • Dec 31, 2009 5:55am Dec 31, 2009 5:55am
Happy New Year NEW ZEELAND !
  • #190,296
  • Dec 31, 2009 6:00am Dec 31, 2009 6:00am
anyone knows which broker provides GBPflx charts?
  • #190,297
  • Dec 31, 2009 6:08am Dec 31, 2009 6:08am
Quoting GlobalMacro
Cable bulls gaining momentum after yesterday's Short Squeeze ensuing the bear trap -- as I anticipated.

Market now trading @1.6170 -- my long position up 215 pips...


I Will Continue To Carry My Long Position Set @ 1.5955 For Now ...


Happy New Year Everyone!
GM

Great work and excellent initial call, all the very best.

To everyone Happy New Year
  • #190,298
  • Dec 31, 2009 6:20am Dec 31, 2009 6:20am
Quoting Nomi1
hi baby trader

can you recommend me some books that you read when you were beginning to trade. thanks
I say



1.The tired wave
2.Robert-C-Miner-Technical-Analysis-Dynamic-Trading(2)

3.forex-wave-theory-a-technical-analysis-for-spot-and-futures-curency-traders

4.elliot waves -mastering elliott waves - glenn neely


5.Walker, Myles Wilson - How To Indentify High-Profit Elliott Wave Trades in Real Time

6.Robert Prechter : EWP


7.Ralph Vince - THE Mathematics of Money Management (Risk Analysis Techniques for Traders

8.Mark_Douglas_Trading_in_the_Zone


9.Delta Welles Wilder


10.STEVE NISON - The Candlestick Course – WILEY

11.STIVE NISON Volume 1 2 and 3 DVD

12.Secrets_of_the_Millionaire_Mind

13.VOLUME TRADING

14.Stock market Timing Cycle and pattern in the indexex

15.THE NATURAL LAW R.N Elliot

16.Applying Elliot wave Profitable


17.Charting Elliot wave Lucas Fibonacci and time for profit


18.Conquer the crash : You can survive and prosper in Deflationary Depression


19.Forex Misc - Money Management and risk managment

20.Mark_Douglas_-_Trading_in_the_Zone

21.DOUGLAS,_Mark_The_Disciplined_Trader

DRAGON-TECHNICAL ANALYSIS!
  • #190,299
  • Dec 31, 2009 6:24am Dec 31, 2009 6:24am
Quoting Baby-Trader
anyone knows which broker provides GBPflx charts?
http://liteforex.org/
this have all/flx!
  • #190,300
  • Dec 31, 2009 6:27am Dec 31, 2009 6:27am
u actually expect me to go thrugh all
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