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Cable Update (GBPUSD)

  • #194,301
  • Jan 19, 2010 10:52am Jan 19, 2010 10:52am
Quoting kill56
room any body can tell me where's the cable going in the next 4 hours

as long as 1.6338 holds we have confluence at 1.6400 / 1.6425 that is gu target

1.6330 gives i think we break down 1.6300 into 1.6260 and the channel we are in now is a bear flag of sorts

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #194,302
  • Jan 19, 2010 10:54am Jan 19, 2010 10:54am
Quoting Jemmy
up or down are very relative..
when we saw from bottom that is UP..
When we saw from top that is DOWN..
just newbies thinking..
agreed..but still..sometime my UP go Down n my down go up
  • #194,303
  • Jan 19, 2010 10:54am Jan 19, 2010 10:54am
Quoting malcolmb14
Petar

2 sets of eyes ..we both see eu completely differently

I see it being in a downtrend ... could even be some large channel as long as 1.5500 holds. We could even see parity later this year / 2011 . Parity would only be a 78.6 % retrace of up move from 2000 to 2008

Attachment
We see both direfent becouse you trade contra trend obviusly is UP trend and you trade with your cnanel.I always trade with the trend That is diferent but its ok... i Wish you many pips
"Buy on fear, sell on greed !!!
  • #194,304
  • Jan 19, 2010 10:57am Jan 19, 2010 10:57am
Quoting malcolmb14
as long as 1.6338 holds we have confluence at 1.6400 / 1.6425 that is gu target

1.6330 gives i think we break down 1.6300 into 1.6260 and the channel we are in now is a bear flag of sorts

Attachment
true bro its like a rock the 16338 we need do smash it befor we go down hey mal u are the man hats off bro
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  • #194,305
  • Jan 19, 2010 10:59am Jan 19, 2010 10:59am
Quoting Baby-Trader
Well done GM
but it is only 423 pips from Dec 23, 2009 5:29pm to Jan 19 2010. it means 27 days to make 423 pips. with avg 16 pips/day.

Is that your target ?
First of all I don't care how much I make per day since I am long term trader in this pair

Secondly my target is whatever the market is willing to give me with minimum amount of risk...and this is pretty much it....

Thirdly, as Malcolmb rightly mentioned in his post above, every time you enter the market you're exposing yourself to risk.....so you have to see it from a perspective of return to risk ratio not what hypothetically is possible which would be very very misleading.....

BTW, remember what I told you about "so-called hedging" when you wanted to do it 6 days ago?...that was 300 pips ago!

http://www.forexfactory.com/showpost...stcount=192293
Hear the music before the song is over ...
  • #194,306
  • Jan 19, 2010 11:05am Jan 19, 2010 11:05am
Quoting Petar_Serbia
We see both direfent becouse you trade contra trend obviusly is UP trend and you trade with your cnanel.I always trade with the trend That is diferent but its ok... i Wish you many pips
trend is obviously up ... please explain ....

if you talk about trend since 2000 then this is broken 2008 and tested recently where we dropped away from it...now I think trend is clearly down with wave 1 and 2 formed on monthly charts. wave 3 takes us to 1.1000 , then about 1.3500 on wave 4 .. wave 5 down into sub 1.000 , 5 year cycle.

if you are talking about the trendline 2008 to 2009 the dec candle also broke that one. The trend is changing. I guess you just need 2000 pip downward movement on weekly to confirm.


good luck with your trades .

Am i really counter trend trading ? that is what you have to ask yourself . I am just trading along side the pros using my vsa style . You keep using some thing that plots arrows on charts when indies cross ...if it works for you

The short in euro off 1.5000 area was based on dx weekly basing. I mentioned this a ton of times in this thread and others.

also i trade intraday both ways , but mostly depdnds on where the value area of prior day is . Today value area lw is 1.6302 , long off there this morning , price travlled across the vluae area into 1.6370 where i sold , reversed off yesterdays point of control and is now testing yesterdays upper value area again . If price remains in the prior days value area i can trade both directions , above prior days value area longs on pull backs only , and below prior days value area sells on rallies only.

as long as we make pips that is all that matters ...

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  • #194,307
  • Jan 19, 2010 11:08am Jan 19, 2010 11:08am
Quoting GlobalMacro
First of all I don't care how much I make per day since I am long term trader in this pair

Secondly my target is whatever the market is willing to give me with minimum amount of risk...and this is pretty much it....

Thirdly as Malcolmb rightly said, every time you enter the market your exposing yourself to risk.....so you have to see it from a perspective of return to risk ratio not what hypothetically is possible which would be very very misleading.....

BTW, remember what I told you about "so-called hedging" when you wanted to do it 6 days...
thanks bro,
Definitely I'm learning from you and your thinks.
thanks for guidance.
I already took 230 of them.
  • #194,308
  • Jan 19, 2010 11:09am Jan 19, 2010 11:09am
Quoting GlobalMacro
Thanks Manize...
I see you're doing a pretty good job scalping the heck outta market...
Keep it up!
Combine with your analysis I can grab more than 200 pips since yesterday !
Thank you brother ! GBU !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #194,309
  • Jan 19, 2010 11:10am Jan 19, 2010 11:10am
http://www.forexfactory.com/attachme...4&d=1263920477

anyone...corect me if i'm wrong, Gu is moving in weekly triangle..and this might be a retracement to 38 to 50 fibo lvl..and still bullish to 1.67xx..if i'm wrong n miss place then will consider close my short open at 1.6372
  • #194,310
  • Jan 19, 2010 11:10am Jan 19, 2010 11:10am
Quoting noob


well done bro..waiting for your next move to follow
Thanks....but you should really be doing your own analysis as well...
It's very dangerous to just follow anything without having your own opinion
Trade Well!
Hear the music before the song is over ...
  • #194,311
  • Jan 19, 2010 11:10am Jan 19, 2010 11:10am
Quoting Baby-Trader
thanks bro,
Definitely I'm learning from you and your thinks.
thanks for guidance.
I already took 230 of them.

bravoo bt happy for u bro keep doen it
  • #194,312
  • Jan 19, 2010 11:11am Jan 19, 2010 11:11am
Reason for Strategy


Support & Resistance Levels
Resistance 3 1.6336-.6354 127.2%-50%
Resistance 2 1.6457-.6477 161.8%-61.8%
Resistance 1 1.6560-.6571 161.8% ABCD ext.-70.7%
Current Price 1.6269
Support 1 1.6207 daily pivot
Support 2 1.6134 daily pivot (center line)

Support 3 1.6076 daily pivot

  1. http://gftnet.gftforex.com/images/co...50-48%20AM.png
  2. http://gftnet.gftforex.com/images/co...39-27%20AM.png

  • #194,313
  • Jan 19, 2010 11:12am Jan 19, 2010 11:12am
Quoting egkid
My trade goes fine with aud/nzd/euro and all in profit
But g/u start to annoying me but still have some more time and MM to see if it go as i see or will hit my sl
Great to hear you're satisfied with your trading....All the best to you!
Hear the music before the song is over ...
  • #194,314
  • Jan 19, 2010 11:14am Jan 19, 2010 11:14am
Quoting Baby-Trader
thanks bro,
Definitely I'm learning from you and your thinks.
thanks for guidance.
I already took 230 of them.
Alright....that's great...
Trade Well!
Hear the music before the song is over ...
  • #194,315
  • Jan 19, 2010 11:17am Jan 19, 2010 11:17am
Quoting bonus76
We Have a new king and his nick name is GM :-)
No...King is due to speak in less than 2 hours....
Hear the music before the song is over ...
  • #194,316
  • Jan 19, 2010 11:18am Jan 19, 2010 11:18am
Quoting malcolmb14
...

also i trade intraday both ways , but mostly depdnds on where the value area of prior day is . Today value area lw is 1.6302 , long off there this morning , price travlled across the vluae area into 1.6370 where i sold...
Hey malc!

how do you calculate this "value area"?

Thanks
  • #194,317
  • Jan 19, 2010 11:28am Jan 19, 2010 11:28am
Quoting malcolmb14
trend is obviously up ... please explain ....

if you talk about trend since 2000 then this is broken 2008 and tested recently where we dropped away from it...now I think trend is clearly down with wave 1 and 2 formed on monthly charts. wave 3 takes us to 1.1000 , then about 1.3500 on wave 4 .. wave 5 down into sub 1.000...
Its ok man,time will tell for long term,actualy i and you cant be sure 100 % this is just tehicaley...About trading,trade strategy you learned well...Never mind wich strategy you trade becouse just strategy you practiced can bring a you succes.Best strategy for me is MM and RRR everything else is up to trader.I dont trade Black Dog for main strategy i am a swing trader and when i have time like today i trade my Renko strategy and Black Dog if i see good opotunity...I am about 700-1500 pips per month and i dont need anything more or beter or...

Good pips to you and other traders
"Buy on fear, sell on greed !!!
  • #194,318
  • Jan 19, 2010 11:28am Jan 19, 2010 11:28am
http://www.fx-invest.ru/img/403/news/6362/1.gif
  • #194,319
  • Jan 19, 2010 11:35am Jan 19, 2010 11:35am
1.6475
1.644
1.64
1.6373 последняя цена
1.631
1.627
1.62

http://www.tradingcentral.com/chart/...0119163620.gif
  • #194,320
  • Jan 19, 2010 11:38am Jan 19, 2010 11:38am
GM,

Again congrats - but also BIG thanks for setting an example last year with your mega-trade from 1.5XX. I remember that so vividly cos you were the first I saw to be technically proficient - but then you really added the whole economics/fundamentals thing to the mix with your posts!

When I saw your Xmas call, I knew it was gold... I know I got my share of it but more importantly, you inspired me to open up my FX fundamentals books. And now I think my trading (though still hap-hazard) is starting to benefit from this longer term view.

Sorry for the rant, but I gotta give kudos to where it's due.

Thank you for leading the way! Congrats again.
A pip is only worth it if you know how much you risked to earn it
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