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Cable Update (GBPUSD)

  • #198,121
  • Feb 4, 2010 9:55am Feb 4, 2010 9:55am
NFP tomorrow so lets see
  • #198,122
  • Feb 4, 2010 9:59am Feb 4, 2010 9:59am
this should have been a green day on the pound for shure but i feal sick because all i have been doing is fighting the trend
  • #198,123
  • Feb 4, 2010 10:18am Feb 4, 2010 10:18am
Hey Digger,

I just plotted those MA's on my chart and at a glance I would say an experienced trader with good MM could actually trade from that chart alone... I noticed that if the 12sma is below the 96sma you could short the pull backs above the 12sma and vice versa when the 12 is above the 96... Interesting......... It also appears that there must be clear direction of the 96 sma to ensure martet is trending..... pardon me for the nest silly question but if one was to trade this way on a higher time frame say 30min...what would you plot instead of the 12 and 96... Do I just multiply the 30 period by 12 and 96?????

Regards,

blinkers..........

Quoting digger1
bad news sinks the equity mkts which for the most part have been oppisite the US dollar, I see there were a few taking longs earlier, not the way to be going so far today, I am not claiming or trying to be any smarter or better than anybody else as the mkt has a way of keeping everybody humble but here is something that is very helpful a lot of days sometimes you can get so many things on a chart that you couldnt see the trees for the forest lol, cheersAttachment
  • #198,124
  • Feb 4, 2010 10:25am Feb 4, 2010 10:25am
Quoting fxblinkers
Hey Digger,

I just plotted those MA's on my chart and at a glance I would say an experienced trader with good MM could actually trade from that chart alone... I noticed that if the 12sma is below the 96sma you could short the pull backs above the 12sma and vice versa when the 12 is above the 96... Interesting......... It also appears that there must be clear direction of the 96 sma to ensure martet is trending..... pardon me for the nest silly question but if one was to trade this way on a higher time frame say 30min...what would you plot instead...
you would have to divide , a 12 sma on a 5 minute chart gives you the hourly average the 96 sma gives you an eight hour averageon a 30 minute chart it would be a 2 sma (hard to follow ) a 16 sma would give you the eight hour average on a 30 minute chart
  • #198,125
  • Feb 4, 2010 10:27am Feb 4, 2010 10:27am
Quoting fxblinkers
Hey Digger,

I just plotted those MA's on my chart and at a glance I would say an experienced trader with good MM could actually trade from that chart alone... I noticed that if the 12sma is below the 96sma you could short the pull backs above the 12sma and vice versa when the 12 is above the 96... Interesting......... It also appears that there must be clear direction of the 96 sma to ensure martet is trending..... pardon me for the nest silly question but if one was to trade this way on a higher time frame say 30min...what would you plot instead...
with the higher time frames you wouldnt get the little price patterns you can pick out on the 5 minute , little bear and bull flags head and shoulder patterns etc
  • #198,126
  • Feb 4, 2010 10:29am Feb 4, 2010 10:29am
Quoting Jemmy
They did it at the same time..
now race to S2..
cable now 5802 , S2 = 5755
fiber now 3805, S2 = 3765
if they always move together like this, how could I make profit from EUR/GBP ?
They did it again, S2 touched..

Tomorrow Boober will report: "Euro down to 8 months low, GBP slipped to October's low and now sitting on the major support from October 09 before NFP news this Friday. If this support broken what will happen only GOD knows".

Time to sleep, happy trading you all..
Patience + Discipline =
  • #198,127
  • Feb 4, 2010 10:38am Feb 4, 2010 10:38am
I miss the party !!!!!
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #198,128
  • Feb 4, 2010 11:03am Feb 4, 2010 11:03am
Hi everybody

I have been trading for about 5 weeks now on the cable and have been following you online and you have been a great inspiration - and thanks for the various tips. I still find it difficult to stay in a trade or to trail my stop loss but I am getting there!!

Happy trading
  • #198,129
  • Feb 4, 2010 11:05am Feb 4, 2010 11:05am
Quoting manize
I miss the party !!!!!
hai...newbie want to ask....how low gu will go before retecment....can it hit 5710-00...
Revesal Trader
  • #198,130
  • Feb 4, 2010 11:10am Feb 4, 2010 11:10am
Closed longs +36p too early or too late for shorts
  • #198,131
  • Feb 4, 2010 11:12am Feb 4, 2010 11:12am
would say the best fun is about done for the day, looks like quite a few london traders squared up on tht last spike down, I took a few longs just below 1.5750 not much for tgts 1st one at 1.5782 and above tht 1.5820, will see how it goes
  • #198,132
  • Feb 4, 2010 11:16am Feb 4, 2010 11:16am
Quoting mygoldenpips
hai...newbie want to ask....how low gu will go before retecment....can it hit 5710-00...
I don't like to think up 2 where she will go down as far as held above 1.5758 ! Watch carefully 1.5758 on H1/H4 she will go up or continously down ! Currently I went long on 1.5760, hoping bounced to 1.5835 or BE !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #198,133
  • Feb 4, 2010 11:26am Feb 4, 2010 11:26am
Quoting manize
I don't like to think up 2 where she will go down as far as held above 1.5758 ! Watch carefully 1.5758 on H1/H4 she will go up or continously down ! Currently I went long on 1.5760, hoping bounced to 1.5835 or BE !
tq
Revesal Trader
  • #198,134
  • Feb 4, 2010 11:27am Feb 4, 2010 11:27am
does any one think gold can still go down.
  • #198,135
  • Feb 4, 2010 11:36am Feb 4, 2010 11:36am
Still currently Short from 1.5983. Have already taken a portion of my position out of the market @ 1.5849. Will be looking to close the rest of my trade @ 1.5706. I have currently moved my Stop Loss on the remainder of my position to +100 pips. Will look for possible buying pressure if price can reach 1.5706. Please trade cautiously as Tomorrow the NFP Numbers will be released.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-4h.jpg Size: 124 KB
  • #198,136
  • Feb 4, 2010 11:38am Feb 4, 2010 11:38am
Quoting Nomi1
does any one think gold can still go down.
Yes.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.jpg Size: 110 KB
  • #198,137
  • Feb 4, 2010 11:49am Feb 4, 2010 11:49am
to wat point any idea
  • #198,138
  • Feb 4, 2010 11:51am Feb 4, 2010 11:51am
Quoting Nomi1
to wat point any idea
gold 720
silver 9
  • #198,139
  • Feb 4, 2010 11:51am Feb 4, 2010 11:51am
Quoting Nomi1
to wat point any idea
Could see possible buying pressure on the highlighted areas
  • #198,140
  • Feb 4, 2010 11:53am Feb 4, 2010 11:53am
EJ moves crazy, short after bounced at 122.90 --> 70 pips sofar !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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