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Cable Update (GBPUSD)

  • #192,821
  • Jan 13, 2010 6:46pm Jan 13, 2010 6:46pm
hello guys i am new here, i want ur opinion in harmonic pattern on gbp can we consider it?
x= 1.6410, a= 1.5823, b=1.6232, c= 1.5894 d=1.6344 so 1.6344 is good zone to go short what do u think of that??
  • #192,822
  • Jan 13, 2010 7:06pm Jan 13, 2010 7:06pm
Quoting fx broker
hello guys i am new here, i want ur opinion in harmonic pattern on gbp can we consider it?
x= 1.6410, a= 1.5823, b=1.6232, c= 1.5894 d=1.6344 so 1.6344 is good zone to go short what do u think of that??
Can u post a chart please?
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,823
  • Jan 13, 2010 7:07pm Jan 13, 2010 7:07pm
D) Will not make Zone 1, it will just keep going North to the 50% fib @ 6354 on the daily char.

Quoting John D
I thought this would be a good time to see how many people observed the same thing BUT predict a different outcome.

What will the GBPUSD do next?

Answers:

A) Pull back to Zone 1
B) Pull back to Zone 2
C) Pull back to Zone 3
D) Will not make Zone 1, it will just keep going North to the 50% fib @ 6354 on the daily chart
E) Retrace past Zone 3
F) My crystal ball is broken and only PA will tell all

Attachment
  • #192,824
  • Jan 13, 2010 7:13pm Jan 13, 2010 7:13pm
Quoting fx broker
hello guys i am new here, i want ur opinion in harmonic pattern on gbp can we consider it?
x= 1.6410, a= 1.5823, b=1.6232, c= 1.5894 d=1.6344 so 1.6344 is good zone to go short what do u think of that??
That 6344 would turn what you just described into a bearish Gartley pattern. So, yes it could turn there.
It's Easy To Get In;.. It's Hard To Get Out
  • #192,825
  • Jan 13, 2010 7:52pm Jan 13, 2010 7:52pm
Quoting John D
That 6344 would turn what you just described into a bearish Gartley pattern. So, yes it could turn there.

Yep..that would be correct as I can see it as well.
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,826
  • Edited 8:09pm Jan 13, 2010 7:58pm | Edited 8:09pm
Quoting damonl
Can u post a chart please?
i am going short at 1.6275, pending order at 1.6335 ST at 1.6417 TP 1.6200 my first trade in a month hope it go well


http://img706.imageshack.us/img706/8423/uploaded.th.png
  • #192,827
  • Jan 13, 2010 8:02pm Jan 13, 2010 8:02pm
I think the pound will go down some today against all currencies, because of charts.
  • #192,828
  • Jan 13, 2010 8:05pm Jan 13, 2010 8:05pm
A

Quoting John D
I thought this would be a good time to see how many people observed the same thing BUT predict a different outcome.

What will the GBPUSD do next?

Answers:

A) Pull back to Zone 1
B) Pull back to Zone 2
C) Pull back to Zone 3
D) Will not make Zone 1, it will just keep going North to the 50% fib @ 6354 on the daily chart
E) Retrace past Zone 3
F) My crystal ball is broken and only PA will tell all

Attachment
It's Easy To Get In;.. It's Hard To Get Out
  • #192,829
  • Jan 13, 2010 8:09pm Jan 13, 2010 8:09pm
Quoting John D
I thought this would be a good time to see how many people observed the same thing BUT predict a different outcome.

What will the GBPUSD do next?

Answers:

A) Pull back to Zone 1
B) Pull back to Zone 2
C) Pull back to Zone 3
D) Will not make Zone 1, it will just keep going North to the 50% fib @ 6354 on the daily chart
E) Retrace past Zone 3
F) My crystal ball is broken and only PA will tell all

Attachment
C) - 6138 , but not a retrace, a continuation of down trend, or it'll at least try.
  • #192,830
  • Jan 13, 2010 8:29pm Jan 13, 2010 8:29pm
Quoting fx broker
i am going short at 1.6275, pending order at 1.6335 ST at 1.6417 TP 1.6200 my first trade in a month hope it go well


http://img706.imageshack.us/img706/8423/uploaded.th.png
On the Daily Chart, wouldn't you want to go with a larger TP zone. If you are right, this is a very bearish signal and could take you into another nice down pattern. Just wondering what your reasoning is with yout TP level
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,831
  • Jan 13, 2010 8:39pm Jan 13, 2010 8:39pm
I cannot see any bears around for this week..

I am consider long today, but don't have any idea for the entry because H4 and H1 seem overbought..

Any suggestion?

Attached Image
Patience + Discipline =
  • #192,832
  • Jan 13, 2010 8:51pm Jan 13, 2010 8:51pm
Quoting Jemmy
I cannot see any bears around for this week..

I am consider long today, but don't have any idea for the entry because H4 and H1 seem overbought..

Any suggestion?

Attachment

I will say, it is trying hard to break above and hold above the 1.6300 area. Seems like it may succeed, but I don't know for sure.
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,833
  • Jan 13, 2010 8:55pm Jan 13, 2010 8:55pm
Quoting damonl
On the Daily Chart, wouldn't you want to go with a larger TP zone. If you are right, this is a very bearish signal and could take you into another nice down pattern. Just wondering what your reasoning is with yout TP level
i am shorting in a large amount from equity so i will close some at 38% retrace from C-D and leave some to 1.6000 zone, look at this chart we may see flag shape..

http://img709.imageshack.us/img709/9...aaaaaag.th.png
  • #192,834
  • Jan 13, 2010 8:58pm Jan 13, 2010 8:58pm
Quoting damonl
I will say, it is trying hard to break above and hold above the 1.6300 area. Seems like it may succeed, but I don't know for sure.
maybe waiting is the best?
Patience + Discipline =
  • #192,835
  • Jan 13, 2010 9:03pm Jan 13, 2010 9:03pm
Quoting Jemmy
maybe waiting is the best?
How would you normally enter?
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,836
  • Jan 13, 2010 9:05pm Jan 13, 2010 9:05pm
Hi guys its me again before a long time...

Lets go... make a players move..

http://clip2net.com/page/m0/3405417


========================
My English its not very well, be patient
  • #192,837
  • Edited 9:26pm Jan 13, 2010 9:14pm | Edited 9:26pm
Quoting John D
That 6344 would turn what you just described into a bearish Gartley pattern. So, yes it could turn there.

If it works out to be a "BG" then here are some projections.

Attached Image (click to enlarge)
Click to Enlarge Name: bgart2.gif Size: 33 KB
It's Easy To Get In;.. It's Hard To Get Out
  • #192,838
  • Jan 13, 2010 9:15pm Jan 13, 2010 9:15pm
My crystal ball says gbp/cad, gbp/chf, and gbp/usd goes down
Also eur/gbp goes up
  • #192,839
  • Jan 13, 2010 9:16pm Jan 13, 2010 9:16pm
Quoting whinos
Hi guys its me again before a long time...

Lets go... make a players move..

http://clip2net.com/page/m0/3405417


========================

Hey Whinos..looks good to me
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,840
  • Jan 13, 2010 9:20pm Jan 13, 2010 9:20pm
Quoting damonl
How would you normally enter?
* if two last days bullish & daily RSI(14)>50 & not overbought, I will only looking for long..
* for entry i used 1hr MACD..
* if MACD crossed above 0 (assume looking for long), then look for nearest daily pivot, Resistance and support to be broken and made entry there with SL 25-30pips before broken P/R/S..
* if 1hr chart overbought, I will enter with half size..

please make correction to my strategy above..
Patience + Discipline =
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