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Cable Update (GBPUSD)

  • #196,821
  • Jan 28, 2010 11:39pm Jan 28, 2010 11:39pm
Quoting defariak
fibos only work well in daily charts to guage big trends, anything smaller it just gets too random because its not the fib lines themselves that make them support or resistance, its the traders who put emphasis on them that make them real, so the big moves are the ones most traders use fib levels on so therefor its a self fullfilling phrophecy.
I use fib levels on the major trends on my daily charts and thats it.
my 2 cents
I have to disagree. I use fibo's from the 5M up to the yearly. They work perfectly on all time frames.
  • #196,822
  • Jan 28, 2010 11:55pm Jan 28, 2010 11:55pm
Quoting fourxtrader
Suns 77 : Mavs 78
NBA is more fun than FOREX

Dr. D.
Still has not broken this channel. I am long @ 6121 sl at 6090. Lets see what happens.
  • #196,823
  • Jan 29, 2010 12:02am Jan 29, 2010 12:02am
Quoting Ctic
I have to disagree. I use fibo's from the 5M up to the yearly. They work perfectly on all time frames.
We will have to agree to disagree, I am a firm believer fibos are random self fulfilling phrophecies, everyone uses them on major trend lines so therefore they become support/resist levels.
Thats my view on them personally
Im a zombie.. "Rawr"
  • #196,824
  • Jan 29, 2010 12:08am Jan 29, 2010 12:08am
Quoting Ctic
Still has not broken this channel. I am long @ 6121 sl at 6090. Lets see what happens.
I am in on 1.6113, SL 1.6050
Attached Image (click to enlarge)
Click to Enlarge Name: 290110.gif Size: 67 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,825
  • Jan 29, 2010 12:09am Jan 29, 2010 12:09am
new's at 2
  • #196,826
  • Jan 29, 2010 12:10am Jan 29, 2010 12:10am
Quoting pipskr
Thanks. Do you use the others as confirmation?

once the bollinger split sideways... check the adx to see the strength of the move...

to confirm the move juz check the earlier time frames...
  • #196,827
  • Jan 29, 2010 12:10am Jan 29, 2010 12:10am
Quoting witsnpips
no i mean like gbp/jpy
I take it you've only been trading for a few weeks then.
Thank You
  • #196,828
  • Jan 29, 2010 12:17am Jan 29, 2010 12:17am
Quoting defariak
We will have to agree to disagree, I am a firm believer fibos are random self fulfilling phrophecies, everyone uses them on major trend lines so therefore they become support/resist levels.
Thats my view on them personally

If everyone uses them then you can trade off them, assuming they see the same thing you do.
  • #196,829
  • Jan 29, 2010 12:39am Jan 29, 2010 12:39am
Quoting Ctic
Still has not broken this channel. I am long @ 6121 sl at 6090. Lets see what happens.
Good place to reverse.

Got home earlier and closed my shorts @ 1.6117 for 30 pips.

Came from watching my eldest son playing in a big time softball
double header league held at a classy 8 field stadium from the warm
confines of one of the two circular restaurants, while glancing at the
Suns game telecast and monitoring my trade in the GU on my G1.

Life is awesome.

Hopefully we'll survive these next 3 years as the master illegal alien
puppet and his criminals in Washington trample our beloved Constitution,
spewing out 'executive orders' while insulting the highest court in the land,
the Supreme Court Justices.

Dr. D.
  • #196,830
  • Jan 29, 2010 12:41am Jan 29, 2010 12:41am
Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?

.9050???? eeerrrr
EUR/USD
  • #196,831
  • Jan 29, 2010 12:44am Jan 29, 2010 12:44am
Quoting manize
I am in on 1.6113, SL 1.6050
i'm in too, @6100 (well actually i want 6097, but my broker will not give that number)

so this is a championship, who is the nears one will be the winner all offer this years ....,(sure if price move up, but if price get down and never go up again...??? let we smile together..., )
I will be the number one Manager.
  • #196,832
  • Jan 29, 2010 12:52am Jan 29, 2010 12:52am
hai guy.....any prediction on news?.sorry for asking coz i newbie here..i also long at 1.6110....
Revesal Trader
  • #196,833
  • Jan 29, 2010 12:53am Jan 29, 2010 12:53am
Quoting javapips
i'm in too, @6100 (well actually i want 6097, but my broker will not give that number)

so this is a championship, who is the nears one will be the winner all offer this years ....,(sure if price move up, but if price get down and never go up again...??? let we smile together..., )
I hope the friday habit will work as usual --> always move far across the current DP 1.6175 . If failed I ready to lessen my monthly gain by 2% !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,834
  • Jan 29, 2010 1:04am Jan 29, 2010 1:04am
Quoting Noordin
.9050???? eeerrrr
Yeah didn't you know. This news event really moved it. I am up 3000 pips already and I have only been in this trade 20 minutes. Where were you.

Actually, you just responded to the first post of this thread which was Sept. 2006, so to answer your question I think it is going to 2.1150. and then back down to the point we are now. 1.6135
  • #196,835
  • Jan 29, 2010 1:05am Jan 29, 2010 1:05am
Quoting mygoldenpips
hai guy.....any prediction on news?.sorry for asking coz i newbie here..i also long at 1.6110....
Some advise,

Don't worry about the news, trade the charts. News always moves in direction of charts.
  • #196,836
  • Jan 29, 2010 1:09am Jan 29, 2010 1:09am
Quoting fourxtrader
Good place to reverse.

Got home earlier and closed my shorts @ 1.6117 for 30 pips.

Came from watching my eldest son playing in a big time softball
double header league held at a classy 8 field stadium from the warm
confines of one of the two circular restaurants, while glancing at the
[color=blue][i]Suns game telecast and monitoring my trade in the GU...
Agreed,

Life is awsome and so is this channel we have been in. I hope you made some good pips playing the tops and bottoms like I mentioned. I do think we should get one more good rise before the tumble down but it is to early to tell. Usualy when it channels like this it likes to make a false break out. I really hope we survive the next 3 years with the clowns we have in there. I wonder every day if we will survive the next 3 hours.

BTW, I really have been liking that tick chart EMA compression. It is very interesting to watch.

C.
  • #196,837
  • Jan 29, 2010 1:17am Jan 29, 2010 1:17am
Quoting Ctic
I have to disagree. I use fibo's from the 5M up to the yearly. They work perfectly on all time frames.
I agree.A 5 min time frame will hit support resist from the 30 sec/ 1 min chart .There are support/ resist on all timeframes.I trade the 15 min chart most of the time so I can catch the waves inside the bigger waves.Thus more pips can be gotten
  • #196,838
  • Jan 29, 2010 1:20am Jan 29, 2010 1:20am
I'm long to 190 maybe 220 as of now
  • #196,839
  • Jan 29, 2010 1:23am Jan 29, 2010 1:23am
Quoting Fly2
I'm long to 190 maybe 220 as of now
Can u explain why u entered long ?
just want to learn
if u have time to explain it would be so nice from u
  • #196,840
  • Jan 29, 2010 1:24am Jan 29, 2010 1:24am
Quoting defariak
We will have to agree to disagree, I am a firm believer fibos are random self fulfilling phrophecies, everyone uses them on major trend lines so therefore they become support/resist levels.
Thats my view on them personally
I can agree to disagree. I know others agree with me, and I am sure others will argue the point as well. Everyone has their own opinions and techniques used. There is no one correct way to trade. That is one of the main if not the MAIN reason I come onto FF. I am sure we can agree that no matter what method you use, there is not one that is 100% effective. Thus, when my method is not working, I like to look for other viewpoints from different traders. Their charts can give me insight to what is happening atm. I like to go on all the treads to the pairs I trade, although this is the only thread I contribute to since G/U is my favorite pair to trade.
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