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Cable Update (GBPUSD)

  • #194,141
  • Jan 19, 2010 4:13am Jan 19, 2010 4:13am
Quoting Baby-Trader
Thanks Ctic for your time and explaination.
NP BT.
  • #194,142
  • Jan 19, 2010 4:14am Jan 19, 2010 4:14am
Quoting Bull_Bear
Wormie you changed your identity tag mate....

I might change mine to a clown suit
Hey Q how's it going bro

changed it, all part of preparing myself with the cuddlies that comes with jr.
Avatars are no exception lol

Press the happy button bro, I told you. There are some decent folks here worth the time discussing trade opportunities with. Don't let the other jokers spoil it.
Everything's just one click away!
Thank You
  • #194,143
  • Jan 19, 2010 4:19am Jan 19, 2010 4:19am
Quoting yo_si
UK inflation is SHARPLY up in a recession, and this is supposed to be good for the currency? RPI had the largest ever monthly rise of the yearly figure.

Just because FF colours it green, that doesn't mean it's good boys and girls.

Initial spike due to traders ignorance as to what the figures actually mean IMHO.

I'm with the shorts.
Don't forget though Obama and crew are printing and spending money like there is no tomorrow. Bailouts, new healthcare plans etc. 30 states are crying that they can not meet their budgets. My wife (who is a school teacher) informed me that if this referendum does not pass in March 20% of the teachers will lose thier jobs and the ones lucky enough to keep them will take at least a 10% paycut. U.S. is not in as good of shape as it may seem.
  • #194,144
  • Jan 19, 2010 4:22am Jan 19, 2010 4:22am
I had 1.6480 in mind as a top for the next couple days, so far it's been just shy of that, let us see how the day ends and if we get a daily reversal candle
{Promotion Removed}
  • #194,145
  • Jan 19, 2010 4:27am Jan 19, 2010 4:27am
Quoting wormboy
...

Press the happy button bro, I told you. There are some decent folks here worth the time discussing trade opportunities with. Don't let the other jokers spoil it.
Everything's just one click away!

Check it out Q, see how spot clean mine looks?
Later bro, time for a jog. Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: clean.JPG Size: 170 KB
Thank You
  • #194,146
  • Jan 19, 2010 4:31am Jan 19, 2010 4:31am
Quoting wormboy
Check it out Q, see how spot clean mine looks?
Later bro, time for a jog. Good luck!

...... CLICK......
Ghost Rider - WWTBMD?
  • #194,147
  • Jan 19, 2010 4:32am Jan 19, 2010 4:32am
hi....
I saw a doji at 16428 M15 GBPUSD.........
I am quite confused on that.
Can someone explain to me what it means.......
i'll be grateful.
  • #194,148
  • Jan 19, 2010 4:32am Jan 19, 2010 4:32am
Quoting wormboy
Check it out Q, see how spot clean mine looks?
Later bro, time for a jog. Good luck!
LOL.... enjoy mate
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #194,149
  • Jan 19, 2010 4:33am Jan 19, 2010 4:33am
Quoting vlady1974
Malcomb, Magix and I were joking that maybe it's affected by the whole Cadbury takeover.... but honestly.... £11bn enough to swing a currency like this??? Something else is up, but I don't know enough of the real world players/factors (currently studying that). Bear in mind (no pun) that UK has a pending election in the next 5 months so don't know if there's manipulation going on.

my 2 cents + salt
Vlady Dude, after the spike in EU the Murrey Math (btw I really apreciate you cause I found it very usefull) levels all changed. It's obvious I haven't study it deeply, just saw a little bit and find out how it works with PA. Question: It works like that changing the levels when you have a huge spike in price? Tks a lot, I wonn't bother you again with any other stupid question...
  • #194,150
  • Jan 19, 2010 4:35am Jan 19, 2010 4:35am
Quoting Jagdev
hi....
I saw a doji at 16428 M15 GBPUSD.........
I am quite confused on that.
Can someone explain to me what it means.......
i'll be grateful.
Doji's mean indecision. Wait for conformation. Could continue could reverse.
  • #194,151
  • Jan 19, 2010 4:39am Jan 19, 2010 4:39am
Quoting Ctic
Don't forget though Obama and crew are printing and spending money like there is no tomorrow. Bailouts, new healthcare plans etc. 30 states are crying that they can not meet their budgets. My wife (who is a school teacher) informed me that if this referendum does not pass in March 20% of the teachers will lose thier jobs and the ones lucky enough to keep them will take at least a 10% paycut. U.S. is not in as good of shape as it may seem.
Good point Ctic. We're being taxed into oblivion over here, and it's due to continue for the next 10 years - it's official!

Shouldn't laugh, but remember when is was a game of who had the strongest currency instead of whose country was going down the toilet quickest?
  • #194,152
  • Jan 19, 2010 4:50am Jan 19, 2010 4:50am
Quoting Ctic
Doji's mean indecision. Wait for conformation. Could continue could reverse.
thanks ctic.....really appreciate that....
so now i have to see where it goes......
looks like downwards.......let's see...
thanks again....
all the best to you bro..
  • #194,153
  • Jan 19, 2010 4:51am Jan 19, 2010 4:51am
Quoting Ctic
Don't forget though Obama and crew are printing and spending money like there is no tomorrow. Bailouts, new healthcare plans etc. 30 states are crying that they can not meet their budgets. My wife (who is a school teacher) informed me that if this referendum does not pass in March 20% of the teachers will lose thier jobs and the ones lucky enough to keep them will take at least a 10% paycut. U.S. is not in as good of shape as it may seem.
Some people on cnbc are talking of a 2nd leg down on the DOW as prime mortages begin to default. Commercial r/e is also at risk if it hasnt already dropped. And if thats the case, i'm looking at GLD gold etf to a nice place to buy. A second round of millionaires will be minted if the dow drops again.
  • #194,154
  • Jan 19, 2010 4:53am Jan 19, 2010 4:53am
I'd stop buying Cable and start SHORTING instead. I think Cable is a bubble right now and the up move is just self sustained, this will come down very soon and I'll be there to short it.... Right now I'm trading different pairs, waiting cable to reverse. Anyway we have a top formed so a sell is good attempt if you want to get in now.
"Hate the sin, love the sinner." - Gandhi
  • #194,155
  • Jan 19, 2010 4:54am Jan 19, 2010 4:54am
Quoting Ctic
Doji's mean indecision. Wait for conformation. Could continue could reverse.
Guys this is the picture for you ...
Attached Image (click to enlarge)
Click to Enlarge Name: hahha.jpg Size: 321 KB
"Buy on fear, sell on greed !!!
  • #194,156
  • Jan 19, 2010 4:59am Jan 19, 2010 4:59am
Quoting maurofx
Vlady Dude, after the spike in EU the Murrey Math (btw I really apreciate you cause I found it very usefull) levels all changed. It's obvious I haven't study it deeply, just saw a little bit and find out how it works with PA. Question: It works like that changing the levels when you have a huge spike in price? Tks a lot, I wonn't bother you again with any other stupid question...
Hey MauroFX,

No worries, mate. There are no stupid questions (that's from a film).
Murrey Math is an acquired taste.

The first thing MML does is take your current "screen" prices and works out the Max Hi/Lo Range. It then takes that range and applies the MM calculation for what applicable "frame" to overlay on the prices. When price spikes (ie. takes out previous HI/LO) this constitutes a recalculation.

In my previous post, I mentioned I look at different timeframes + that MML is like a magnifying glass. The trick to using MM for signals is to try and use the right number (go to the settings of the indicator and look for the number near the top, set to either 64 or 128). By setting it to 64,128,256 you will find the right size to overlay on prices so that it captures the last 1000 bars without recalculating the frame. This is strictly speaking not how MML works but how the author of the indicator has had to implement the indi on MT4: it's good enough, believe me!

Hence, I recommend you use different windows for different TF and don't use the M1, M15, etc buttons to change timeframe within one window.... or you will get confused. eg. My weekly screenshots stay at weekly, MML set to 256 and unless prices spike 2000+ pips, there's no way the frame will change unless i change the settings.

On a 1M, 5M, 15M, 30M things are little different because price can swing big style = frame recalc. Your aim is to reduce the occurrence of this.

Shaweeet!

Let me know how it goes
A pip is only worth it if you know how much you risked to earn it
  • #194,157
  • Jan 19, 2010 4:59am Jan 19, 2010 4:59am
human will be respected from his/her behaviors...


enjoy the trade every one....
I will be the number one Manager.
  • #194,158
  • Jan 19, 2010 5:00am Jan 19, 2010 5:00am
What do you know?

Hi Mr GURU BULL

Just TP for + 55 Pips

Cheers
  • #194,159
  • Jan 19, 2010 5:07am Jan 19, 2010 5:07am
Quoting big_pipin
Some people on cnbc are talking of a 2nd leg down on the DOW as prime mortages begin to default. Commercial r/e is also at risk if it hasnt already dropped. And if thats the case, i'm looking at GLD gold etf to a nice place to buy. A second round of millionaires will be minted if the dow drops again.
I've already started dumping many of my stocks. I use different indicators for my stocks which include candlestick formations, MACD, Stoch and MA's but many started turning bearish. I can always get back in them but lets see where they go for now.
  • #194,160
  • Jan 19, 2010 5:08am Jan 19, 2010 5:08am
Hi

Just closed all Long positions. Waiting for re-entry at 1.6355-42 with a tight SL.

I still see a strong uptrend on the 4h TF with a small retrace to possibly go to 67xx.
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