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Cable Update (GBPUSD)

  • #226,721
  • May 15, 2010 11:11pm May 15, 2010 11:11pm
read with me

http://livewithoscar.com/index.php?pa=Golden_Rules
  • #226,722
  • May 15, 2010 11:29pm May 15, 2010 11:29pm
Quoting digger1
May I ask what this is based on , is it more of your reasoning such as the trade balance you had all figured out was going to be positive , that didnt turn out too well. Really lion no one knows what the open will be , no sense in giving newbies false hope, at the very best a 50 50 chance. The gap that shows up on most traders broker platform isint a gap at all , the market is moving long before most broker platforms start at 5 pm new york time . If you go by what price did the end of the week and if I absolutely had to make a prediction I would...
apart from just the gap up, cable will also go to 4685 or 4700 before dropping down

in May anything below 4500 is not possible unless some fresh news comes in to increase pound weakness

plus we have already completed short term move on EW, a corrective A B C pattern will happen before a fresh move

http://img7.imageshack.us/img7/6805/cableh.gif
  • #226,723
  • May 15, 2010 11:33pm May 15, 2010 11:33pm
Quoting forexlion
apart from just the gap up, cable will also go to 4685 or 4700 before dropping down

in May anything below 4500 is not possible unless some fresh news comes in to increase pound weakness

plus we have already completed short term move on EW, a corrective A B C pattern will happen before a fresh move

http://img7.imageshack.us/img7/6805/cableh.gif
i closed all shorts taken from 5365 @ 4500

now waiting for a corrective bounce to complete


http://img413.imageshack.us/img413/9084/cablep.gif
  • #226,724
  • May 16, 2010 1:08am May 16, 2010 1:08am
Quoting forexlion
apart from just the gap up, cable will also go to 4685 or 4700 before dropping down

in May anything below 4500 is not possible unless some fresh news comes in to increase pound weakness

plus we have already completed short term move on EW, a corrective A B C pattern will happen before a fresh move

http://img7.imageshack.us/img7/6805/cableh.gif
Aw geez lion if you said 1.35 I could have totally agreed with you , in the mean time I will stick with what I said taking a trade on friday just to play the so called gap is a gamble at best , I am no ew expert and I dont have software to keep track of it , seems most software can easily move stuff around and repaint things when it dont quite work out anyway with something tht seems so subjective. Seems to me there is a possibility of prices below 1.45 in may. Doing my rough ew count with some fib extentions shows a possible target below 1.45 and I have a quartly pivot target level below tht also . You seem to know tho so any who follow you should be fine right hopefully better than your assesment of the trade balance . Those who use some caution and wait for the market to tip its hand for next week will do just as well with out having to worry over the weekend . Once again with experience would rather stress caution and patience as opposed to remarks such as the market must do this or it cant do that . The market will do what it wants when it wants and as stated before I am flat and Im guessing like everyone alse at this point in the weekend . One thing is a fact ,the market will do something and it will be tradeable so good pippin to everyone
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  • #226,725
  • May 16, 2010 1:49am May 16, 2010 1:49am
Here is another argument for prices below 1.45 lion using your ew stuff , your software wont draw them like this as its happening , probably be close when its over tho
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  • #226,726
  • May 16, 2010 3:47am May 16, 2010 3:47am
digger can you just tell me whats going on with that red and green areas really i just want to know i mean doesnt it hurt your eyes???
  • #226,727
  • May 16, 2010 4:05am May 16, 2010 4:05am
Quoting CoffeeDrinke
digger can you just tell me whats going on with that red and green areas really i just want to know i mean doesnt it hurt your eyes???
ah ha ha , probably with several shots of coffee lol, new york rollover price is the dividing line between the red and green , if you are in and out away from the cp here and there just a quick visual tells wether you are trading above or below the days open , the different colors of red and green just point out the areas between my weekly pivot levels , when they get too much sunglasses or a welding hood tones them down a bit lol,
  • #226,728
  • May 16, 2010 4:08am May 16, 2010 4:08am
mish

try this
Attached File(s)
File Type: ex4 SHIV-BHAKTI.ex4   3 KB | 286 downloads
  • #226,729
  • May 16, 2010 4:15am May 16, 2010 4:15am
Quoting digger1
ah ha ha , probably with several shots of coffee lol, new york rollover price is the dividing line between the red and green , if you are in and out away from the cp here and there just a quick visual tells wether you are trading above or below the days open , the different colors of red and green just point out the areas between my weekly pivot levels , when they get too much sunglasses or a welding hood tones them down a bit lol,

bro 3D will do
  • #226,730
  • May 16, 2010 4:22am May 16, 2010 4:22am
Quoting digger1
Aw geez lion if you said 1.35 I could have totally agreed with you , in the mean time I will stick with what I said taking a trade on friday just to play the so called gap is a gamble at best , I am no ew expert and I dont have software to keep track of it , seems most software can easily move stuff around and repaint things when it dont quite work out anyway with something tht seems so subjective. Seems to me there is a possibility of prices below 1.45 in may. Doing my rough ew count with some fib extentions shows a possible target below 1.45 and...
Go ahead n short.

I won't cause I see a corrective pullback to 4700 level before any move down

I will prefer to enter shorts on the top, instead of getting stuck @ the bottom.
  • #226,731
  • May 16, 2010 4:24am May 16, 2010 4:24am
Quoting forexlion
Go ahead n short.

I won't cause I see a corrective pullback to 4700 level before any move down

I will prefer to enter shorts on the top, instead of getting stuck @ the bottom.

By the way I do see Central Bank of Canada in a position of raising rates, with continued strong news on new jobs generated.
  • #226,732
  • Edited 5:30am May 16, 2010 5:16am | Edited 5:30am
Quoting forexlion
Go ahead n short.

I won't cause I see a corrective pullback to 4700 level before any move down

I will prefer to enter shorts on the top, instead of getting stuck @ the bottom.
Ah the intelligent big bold print , go back and read again , I said I would rather not be in any positon from Fridays trading and I am not , also said the weekend is the wild card possibility of either way could present itself and there will be a chance to get in . I simply asked what your reasoning was . I got for an answer the ew that some software paints for you says so and I guess also lion says it cant go below 1.45 in may . I remember lion also stating in big bold print a 1.6011 high in april , got to within 490 pips or so maybe thats close enough for you , and a reminder once again even as recently as thursday and your trade balance thoughts , maybe it wont go below 1.45 and you could get 1 out 3 . Your experienced , you claim to be making money , if you are- you are not blindly firing away seems it would be helpful to give a few reasons as opposed to your big bold printed statments . Some of the calls you have made seem to be to delibertly mislead the less experienced hope not but some calls with your experience makes a person wonder . I will agree with one thing, shorting at the bottom is no trade to take , so whatever man try to simply point out a little caution in trading may be worth mentioning and this is what it turns into . Hope all works out well for you lion and you see cad rasing rates does this mean traders should just pile in short the cad pairs or what
  • #226,733
  • May 16, 2010 5:35am May 16, 2010 5:35am
Quoting kill56
mish

try this
Hey kill, I would appreciate it if you can give me some insight on how you use this indicator.
  • #226,734
  • May 16, 2010 6:05am May 16, 2010 6:05am
I never trade before London Open on Mondays

And nothing after NY Open on any day.
  • #226,735
  • May 16, 2010 6:42am May 16, 2010 6:42am
Yellow line I posted earlier in the week has still just held, but as has been mentioned previously by someone (I remember bbakker quoting it, possibly from a cloggie/kill post) if the price keeps attacking a line it's likely it's going to break.

H1 and H4 candles look bullish at Friday close, but that probably means a slight up again before another go at this line.

That said, it only takes one politician or other idiot to say something between now and opening before things change.
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Back to basics, it has to be for me!
  • #226,736
  • May 16, 2010 6:51am May 16, 2010 6:51am
http://img535.imageshack.us/img535/8527/42871519.gif
  • #226,737
  • May 16, 2010 6:57am May 16, 2010 6:57am
look at dixy monthly we did break the trend line where we go from here do we hit 87.50 then retrace then up or we go up all the way to 90.00

i might be wrong
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  • #226,738
  • May 16, 2010 7:03am May 16, 2010 7:03am
Quoting kill56
look at dixy monthly we did break the trend line where we go from here do we hit 87.50 then retrace then up or we go up all the way to 90.00

i might be wrong
i searched for dixcy on youtube but ............. got something else
  • #226,739
  • May 16, 2010 7:08am May 16, 2010 7:08am
Quoting kill56
Good luck in forex and do not forget that this is a serious job but not a hobby or a casino. If you want to get rid of your money you’d better go to Las Vegas. This will be at least more enjoyable experience.
And... This as an ILLUSTRATION
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Always looking the GREAT, never left GOOD Point...
  • #226,740
  • May 16, 2010 7:09am May 16, 2010 7:09am
where are we going

is 14000 the next target for cable lets see

we might retrace a little not much still risky as hell any news could change the whole picture


i might be wrong
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