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Cable Update (GBPUSD)

  • #217,241
  • Apr 14, 2010 6:30am Apr 14, 2010 6:30am
Quoting free4440273
euro getting murdered -- after greece, portugal?
Always a time during the day where EUR gets a bit clobbered. 40 pips is about normal. If you see a 100 pip movement in a day on EG you know something truly newsworthy is going on!!!
  • #217,242
  • Apr 14, 2010 6:33am Apr 14, 2010 6:33am
Quoting free4440273
absolutely -- look at bond yields! Greece is no longer a country
i heard the greek women are very intelligent, they will figure out a way to save their country, the men are just boozers
  • #217,243
  • Apr 14, 2010 6:34am Apr 14, 2010 6:34am
Quoting forexlion
i got a very simple setup here

 

  1. 5422 holds as resistance and 5128 support breaks we visit 4364 for a cup of tea
  2. 5422 does not hold and 5550 breaks, we go to 5800 for a steam bath.

I also have those two s/r lines but how do you know that we will go so far? I can only see as far as these s/r and have no clue how far further as I see each s/r as a possible turn or continuation. this makes me only able to hold for around 60 pips if i'm lucky in these market conditions...

5 weeks ago we would move 200 in one direction, then 200 in another all in one week...

AND HOW DOES NEWS INFLUENCE YOUR VIEW???
@pawpaw1000 on Twitter
  • #217,244
  • Apr 14, 2010 6:37am Apr 14, 2010 6:37am
Quoting bbakker
You crack me up sometimes, but really... sometimes these newbies can't tell the difference!
i gave them sufficient hints, still if they consider it as a system, then the best person to guide them is kill and bbaker
  • #217,245
  • Apr 14, 2010 6:37am Apr 14, 2010 6:37am
Quoting forexlion
i heard the greek women are very intelligent, they will figure out a way to save their country, the men are just boozers
they are so h;;;;;;;;;;;;;;;;;t and hoooooooooooooooshy
  • #217,246
  • Apr 14, 2010 6:38am Apr 14, 2010 6:38am
Quoting forexlion
i heard the greek women are very intelligent, they will figure out a way to save their country, the men are just boozers
they might need the booze given their debts!!!!
  • #217,247
  • Apr 14, 2010 6:39am Apr 14, 2010 6:39am
Im gonna have a nice sandwich and a drink, watch the direction of the rally for the next 30 mins and then place a retrace scalp for 20 pips in the opposite direction just prior to the news being released.

Got a feeling theres gonna be a lot of bouncing about in big ranges at 1.30 so I want to catch a shed load of 30 pip scalps to support later (larger) trades.
  • #217,248
  • Apr 14, 2010 6:39am Apr 14, 2010 6:39am
Quoting pawpaw1000
I also have those two s/r lines but how do you know that we will go so far? I can only see as far as these s/r and have no clue how far further as I see each s/r as a possible turn or continuation. this makes me only able to hold for around 60 pips if i'm lucky in these market conditions...

5 weeks ago we would move 200 in one direction, then 200 in another all in one week...

AND HOW DOES NEWS INFLUENCE YOUR VIEW???
i predict the movement 6 to 9 hours before the news

remember how i got the exact move on NFP 9 hours before it happened, the boy kissed the level to the pip
  • #217,249
  • Apr 14, 2010 6:44am Apr 14, 2010 6:44am
Quoting forexlion
i predict the movement 6 to 9 hours before the news

remember how i got the exact move on NFP 9 hours before it happened, the boy kissed the level to the pip
yes, but using what? I see that looking at fibo from 6480 to 4780 we get 5424 at 38.2 so if it holds then we could and will go down to 4300. and if it breaks we should go to 5625 next...

but surely the other s/r lines also play a part like the one you said 5550...
@pawpaw1000 on Twitter
  • #217,250
  • Apr 14, 2010 6:46am Apr 14, 2010 6:46am
Quoting pawpaw1000
yes, but using what? I see that looking at fibo from 6480 to 4780 we get 5424 at 38.2 so if it holds then we could and will go down to 4300. and if it breaks we should go to 5625 next...

but surely the other s/r lines also play a part like the one you said 5550...
Like this... But shouldnt one take fibo from highest point? I didnt as I see that 1st dip retraced already...
Attached Image (click to enlarge)
Click to Enlarge Name: fibo.png Size: 65 KB
@pawpaw1000 on Twitter
  • #217,251
  • Apr 14, 2010 6:48am Apr 14, 2010 6:48am
Quoting pawpaw1000
When I say I'm biased south it just means I'm looking for a place to short... Thinking of 55000 and s/l 56000 but I still believe we are headed further South in the long run... For now, I'm out...
the technical analysis fallacy see how your thought process is interfering with your decision making?
It's not what you believe that counts brother. It's what's printed on the charts.
This is the d1, good enough for long run point of view.

D1 chart:
1. http://cdn.forexfactory.com/attachme...1&d=1271201757

As you can see, the bullish trend is not shifting yet. Stop looking the other way till you have to
Thank You
  • #217,252
  • Apr 14, 2010 6:48am Apr 14, 2010 6:48am
5M chart for the past couple of hours with the nice trend line indicator picking something up.

EDIT: Post it, it breaks out up top
Attached Image (click to enlarge)
Click to Enlarge Name: chart2 14-04-10.gif Size: 34 KB
Back to basics, it has to be for me!
  • #217,253
  • Apr 14, 2010 6:50am Apr 14, 2010 6:50am
Quoting OldReigatian
Im gonna have a nice sandwich and a drink, watch the direction of the rally for the next 30 mins and then place a retrace scalp for 20 pips in the opposite direction just prior to the news being released.

Got a feeling theres gonna be a lot of bouncing about in big ranges at 1.30 so I want to catch a shed load of 30 pip scalps to support later (larger) trades.
everything pinned on usa data now
  • #217,254
  • Apr 14, 2010 6:53am Apr 14, 2010 6:53am
Quoting BadTradingFi
5M chart for the past couple of hours with the nice trend line indicator picking something up.

EDIT: Post it, it breaks out up top
the tl indicator is rubbish. wait till you get into consolidation & it starts to repaint every 2-3 bars

Plot them manually
Thank You
  • #217,255
  • Apr 14, 2010 6:53am Apr 14, 2010 6:53am
Quoting wormboy
the technical analysis fallacy see how your thought process is interfering with your decision making?
It's not what you believe that counts brother. It's what's printed on the charts.
This is the d1, good enough for long run point of view.

D1 chart:
1. http://cdn.forexfactory.com/attachme...1&d=1271201757

As you can see, the bullish trend is not shifting yet. Stop looking the other way till you have to
so you will stay long until you see a bearish sign like a engulfing candle with a confirmation or a rounded top etc on the daily chart? You then scale down and look for entries on the shorter tf's??
@pawpaw1000 on Twitter
  • #217,256
  • Apr 14, 2010 6:54am Apr 14, 2010 6:54am
Quoting free4440273
euro getting murdered -- after greece, portugal?
US debt level is much higher than Euro overall level, dont just look at greece and portugal. Good time to long on EU.
Face both Win and Lose bravely
  • #217,257
  • Apr 14, 2010 6:56am Apr 14, 2010 6:56am
Quoting Cowboy11
US debt level is much higher than Euro overall level, dont just look at greece and portugal. Good time to long on EU.
good luck with that!
  • #217,258
  • Apr 14, 2010 6:58am Apr 14, 2010 6:58am
Quoting wormboy
the tl indicator is rubbish. wait till you get into consolidation & it starts to repaint every 2-3 bars

Plot them manually
Yes, have noticed that sometimes very bizzare lines appear, on occasions they seem to fit.

Point taken though, -1 more indicator. Back to bare bars pretty much now
Back to basics, it has to be for me!
  • #217,259
  • Apr 14, 2010 6:58am Apr 14, 2010 6:58am
Quoting Cowboy11
US debt level is much higher than Euro overall level, dont just look at greece and portugal. Good time to long on EU.
Yeah - there's Spain & ireland too
Nil Desperandum Illegitimi Carborundum
  • #217,260
  • Apr 14, 2010 6:58am Apr 14, 2010 6:58am
Quoting free4440273
good luck with that!
peter schiff...

Inserted Video


and look for his other videos...
@pawpaw1000 on Twitter
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