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Cable Update (GBPUSD)

  • #212,101
  • Apr 1, 2010 12:04am Apr 1, 2010 12:04am
Quoting malcolmb14
study something before you start preaching it...

just cause average atr is 376 it does not mean the has to complete full range.
Mal why do you think i did not share the indicator yesterday

this is the exact reason for it

i need to be damn sure of the concept first

i got the atr idea from you by the way
  • #212,102
  • Apr 1, 2010 12:05am Apr 1, 2010 12:05am
Quoting forexlion
ATR(14) on weekly is 376 which means cable has a weekly range of 376 pips from week open

so if the current week open is 49189 or 4919 (rounded) then adding 376 to this we get 5295 approx

so this means that for this week despite nfp the max move will be till 5295
very very impressive, i don't care if it true or not but i never heard about that before from any trader,
i thought you are a good plan-er Lion..
becarefull with your brain, it could broken soon...
I will be the number one Manager.
  • #212,103
  • Apr 1, 2010 12:07am Apr 1, 2010 12:07am
Quoting javapips
very very impressive, i don't care if it true or not but i never heard about that before from any trader,
i thought you are a good plan-er Lion..
becarefull with your brain, it could broken soon...
i am already dying as it is, just some more time left

multiple sclerosis is not a joke
  • #212,104
  • Apr 1, 2010 12:08am Apr 1, 2010 12:08am
[quote=wormboy;3601645]
Quoting cesararr

cable is more likely to test 5700 level or higher.
but this is longer term suggestion upon confirmation of large accumulation based on gbplfx's monthly close. pretty sure our in house vsa guys would be seeing the same thing.
Again I have to stress that this is a long term projection and id trading would require one to exercise more caution as immediate res level is seen @5385.
Good luck.
Agreed,

This may at least test the 5500 ranges as that is the 61.8 and the 55MA per the daily chart here. In addition, we have a nice monthly pinbar here so who knows anything can happen
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 17 KB
  • #212,105
  • Apr 1, 2010 12:11am Apr 1, 2010 12:11am
Quoting forexlion
Mal why do you think i did not share the indicator yesterday

this is the exact reason for it

i need to be damn sure of the concept first

i got the atr idea from you by the way
just saying chances are high weeks range is close to weekly atr ,, but does not have to be.

Also NFP is rumoured to be good . Not sure how this will effect stocks markets for next week.

Just playing things day by day
Blogging daily now at www.volume.zone
  • #212,106
  • Apr 1, 2010 12:13am Apr 1, 2010 12:13am
You are good traders here.
please in this forecast is the same http://www.actionforex.com/action-in...0100331110099/
  • #212,107
  • Apr 1, 2010 12:18am Apr 1, 2010 12:18am
Quoting Privet
You are good traders here.
please in this forecast is the same http://www.actionforex.com/action-in...0100331110099/
well if nfp really comes out good as mal says, then this will be a good trade
  • #212,108
  • Apr 1, 2010 12:23am Apr 1, 2010 12:23am
this is crazy

some of the best technical analysis is going on in the recycle bin and i am stumped why this thread is there in the first place, its so damn good

http://www.forexfactory.com/showthread.php?t=208103

it should be back in interactive trading
  • #212,109
  • Apr 1, 2010 12:24am Apr 1, 2010 12:24am
Quoting forexlion
i am already dying as it is, just some more time left

multiple sclerosis is not a joke
so why you not make a Friendship with Dr D??? is he your Dr?? so both of you fight all the time?
I will be the number one Manager.
  • #212,110
  • Apr 1, 2010 12:33am Apr 1, 2010 12:33am
Quoting Privet
You are good traders here.
please in this forecast is the same http://www.actionforex.com/action-in...0100331110099/
Original strategy :
Buy at 1.4970, Target: 1.5125, Stop: 1.4905


Exacltly where i sold and still open.. i don't know from where i get this signal.. sell on 4970.. have a lot to Learn.. first think need to learn is use SL.

First thing to learn in forex is Admit the losses.. dificult but neccesary.

hope this new strategy works , at least i can cut my losses..

New strategy :
Sell at 1.5300, Target: 1.5100, Stop: 1.5365
  • #212,111
  • Apr 1, 2010 12:33am Apr 1, 2010 12:33am
Quoting malcolmb14
just saying chances are high weeks range is close to weekly atr ,, but does not have to be.

Also NFP is rumoured to be good . Not sure how this will effect stocks markets for next week.

Just playing things day by day
well the concept seems to be working for me, i am enjoying it

.
http://img682.imageshack.us/img682/1043/cable.gif
  • #212,112
  • Apr 1, 2010 12:44am Apr 1, 2010 12:44am
Quoting cesararr
Original strategy :
Buy at 1.4970, Target: 1.5125, Stop: 1.4905


Exacltly where i sold and still open.. i don't know from where i get this signal.. sell on 4970.. have a lot to Learn.. first think need to learn is use SL.

First thing to learn in forex is Admit the losses.. dificult but neccesary.

hope this new strategy works , at least i can cut my losses..

New strategy :
Sell at 1.5300, Target: 1.5100, Stop: 1.5365
boss

never trade based on forum posts, always trade your own charts
  • #212,113
  • Apr 1, 2010 12:46am Apr 1, 2010 12:46am
Quoting javapips
so why you not make a Friendship with Dr D??? is he your Dr?? so both of you fight all the time?
i thought you are a serious trader, and if you really are then get back to forex and ignore bs posted on the thread,

we got a job to do, sweeping the bank's money clean
  • #212,114
  • Apr 1, 2010 12:49am Apr 1, 2010 12:49am
Quoting forexlion
boss

never trade based on forum posts, always trade your own charts

Late, but yes.....

Thanks.
  • #212,115
  • Apr 1, 2010 12:55am Apr 1, 2010 12:55am
Quoting cesararr
Original strategy :
Buy at 1.4970, Target: 1.5125, Stop: 1.4905


Exacltly where i sold and still open.. i don't know from where i get this signal.. sell on 4970.. have a lot to Learn.. first think need to learn is use SL.

First thing to learn in forex is Admit the losses.. dificult but neccesary.

hope this new strategy works , at least i can cut my losses..

New strategy :
Sell at 1.5300, Target: 1.5100, Stop: 1.5365
You MUST use a SL if you are going to survive in this game. Letting bad trades run in the hope they will turn is a recipe for disaster. You can have more losing trades as a % but still be profitable overall. At least it sounds like you're learning from your mistakes.
  • #212,116
  • Apr 1, 2010 12:57am Apr 1, 2010 12:57am
Quoting bbakker
You MUST use a SL if you are going to survive in this game. Letting bad trades run in the hope they will turn is a recipe for disaster. You can have more losing trades as a % but still be profitable overall. At least it sounds like you're learning from your mistakes.
good advice, i appreciate it
  • #212,117
  • Apr 1, 2010 1:02am Apr 1, 2010 1:02am
Yesterday morning GU made the exact scenario I was describing: 3-3-3. Nevertheless, it didn’t reach the planned area and continued its uptrend.

During the day another bullish impulse was formed with each wave shorter than previous one, as shown at 5min chart. Possibly 1.524 area is the local peak. In any way price is going lower, but the question is open if it’s a correction move with the continuation of uprising, or a bearish impulse. Lets turn to the charts with higher TFs.

During the first half of March price action at GU has formed 3-wave pattern heading up, then the minimum level of wave 3 was broken. It can lead to one of the variants.

1. The price makes another min level as a part of downtrend started with wave 1 (shown at 1H chart). In that case the price shouldn’t go higher than 1.538.

2. Cable forms a pattern 3-5-3 on 4H TF as a part of significant correction.

To my mind, the first variant is more likely. But also it’s hard to decide, when the current possible correction to the upside is going to finish. By now it has 5-wave pattern, will we later another impulse to the upside before GU starts to decline? Right now there is no clear answer.

4 charts are attached in the signature link.
  • #212,118
  • Apr 1, 2010 1:02am Apr 1, 2010 1:02am
Mal I am a bit uneasy on holding longs on cable today, except when scalping, whats your view point today, something crazy is cooking here.
  • #212,119
  • Edited 1:20am Apr 1, 2010 1:05am | Edited 1:20am
my indi, my trend line, over bough, divergent, told me to take sell position,
i hope this is not April Fool's Day...
I will be the number one Manager.
  • #212,120
  • Apr 1, 2010 1:11am Apr 1, 2010 1:11am
Quoting bbakker
You MUST use a SL if you are going to survive in this game. Letting bad trades run in the hope they will turn is a recipe for disaster. You can have more losing trades as a % but still be profitable overall. At least it sounds like you're learning from your mistakes.

yes, i hope survive for try again and do diferent. anyway let see what happen, hope go back soon...

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