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  • #1,181
  • May 19, 2010 12:51am May 19, 2010 12:51am
Quoting forexlion
cable should attempt 4490

see post #1 for reason why
Morning,GOOD call.
  • #1,182
  • May 19, 2010 1:18am May 19, 2010 1:18am
Quoting pepper
Morning,GOOD call.
that was completed long back

now my call is for 3909 which is work in progress
  • #1,183
  • May 19, 2010 1:21am May 19, 2010 1:21am
and unless eurozone comes out with something really good

my call is for 1.1264 on EURUSD

http://img693.imageshack.us/img693/5319/27364738.gif
  • #1,184
  • May 22, 2010 10:24am May 22, 2010 10:24am
Cable Outlook

GBP/USD dropped further to as low as 1.4230 but lost momentum and turned sideway. Some sideway trading might be seen initially this week but after all, another fall remains in favor as long as 1.4517 minor resistance holds. Below 1.4230 will target 100% projection of 1.6456 to 1.4783 from 1.5521 at 1.3848 next. However, break of 1.4517 will suggest that a short term bottom is fro med and bring stronger rebound towards 1.5053 resistance before staying another fall.

In the bigger picture, our bearish view remains unchanged. Fall fro 1.7043 is tentatively treated as resumption of the whole down trend from 2007 high of 2.1161. Such fall should target 61.8% projection of 2.1161 to 1.3503 from 1.7043 at 1.2310 after taking out 1.3503 low. On the upside, break of 1.5521 resistance is needed to be the first signal of bottoming. Otherwise, outlook will remain bearish.

In the longer term picture, the corrective nature of the multi-decade advance from 1.0463 (85 low) to 2.1161 as well as the impulsive nature of the fall from there suggests that GBP/USD is now in an early stage of a long term down trend. Rebound from 1.3503 should have completed and the whole fall from 2.1161 is likely resuming for 61.8% projection of 2.1161 to 1.3503 from 1.7043 at 1.2310 next.


Euro Outlook

EUR/USD edged lower to 1.2143 last week but formed a short term bottom there and recovered. Further rise would probably be seen initially this week as correction continues to 38.2% retracement of 1.3691 to 1.2143 at 1.2734 and above. Nevertheless, upside should be limited below 1.3093 cluster resistance (61.8% retracement at 1.3100) and bring fall resumption. On the downside, below 1.2295 minor support will flip intraday bias back to the downside. Further break of 1.2143 will target 1.20 psychological level next.

In the bigger picture, the break of 1.2329 low confirms that whole down trend from 2008 high 1.6039 has resumed. Such down trend should now target 1.1639 key support level and possibly further to 100% projection of 1.6039 to 1.2329 from 1.5143 at 1.1433. On the upside, break of 1.3266 resistance is needed to be the first signal of bottoming. Otherwise, outlook will remain bearish.

In the long term picture, considering the five wave impulsive structure of the long term up trend from 2000 low of 0.8223 to 2008 high of 1.6039, price actions from 1.6039 are viewed as a correction only. Hence, we'd expect strong support between 61.8% retracement of 0.8223 to 1.6039 at 1.1209 and 1.1639 support to contain downside and bring another long term up trend. However, note that sustained break of 1.1209 key fibonacci level will dampen this view and open up the case of a take on parity.

In short, unless cable takes out 4517, another fall is expected, if 4517 breaks then the next level of resistance is 1.5050

A break above 1.5520 is needed to end this downtrend.

Overall we are still in downtrend.

In Euro

Break below 1.2300 is needed to continue downtrend, but for now we should be moving up to 1.2734, a break above that targets 1.3090 MAX

On rhe downside a break below 1.2300 is needed to target 1.1640 or lower to 1.1250 MAX

I still do not have confirmation cable trend change though, for me its still bearish.
  • #1,185
  • May 22, 2010 10:37am May 22, 2010 10:37am
Thanks for bringing this to my attention.
  • #1,186
  • May 22, 2010 11:08am May 22, 2010 11:08am
are the strategu from post 1 still in use or have u change it ?


best regards
  • #1,187
  • May 22, 2010 11:18am May 22, 2010 11:18am
Quoting jgadefelth
are the strategu from post 1 still in use or have u change it ?


best regards
same for 4+ years now, i am married to t3ma
  • #1,188
  • May 22, 2010 11:51am May 22, 2010 11:51am
good good then i know if the strategy dont work for me atlest it is nothing whrong with the strategy


best regards
  • #1,189
  • May 22, 2010 12:17pm May 22, 2010 12:17pm
hello sir are u still scalping with forex lions tail or made some adjustment with it
well i must say this setup is working good in 1 hour and 4 hour chart but i find it dificult to
to scalp in 1 min or 5 min am i missing something or can you advoice something
me for better result thanks.
  • #1,190
  • May 22, 2010 12:53pm May 22, 2010 12:53pm
Quoting Jai Mata Di
hello sir are u still scalping with forex lions tail or made some adjustment with it
well i must say this setup is working good in 1 hour and 4 hour chart but i find it dificult to
to scalp in 1 min or 5 min am i missing something or can you advoice something
me for better result thanks.
plan a trade, then trade the plan it will work on any tf

trade with coin toss without planning it will never work
  • #1,191
  • May 22, 2010 12:57pm May 22, 2010 12:57pm
Quoting forexlion
plan a trade, then trade the plan it will work on any tf

trade with coin toss without planning it will never work
Hi bro
How r u?
Good advice but mostly we learn it by experience " Hard Way"
  • #1,192
  • May 22, 2010 1:19pm May 22, 2010 1:19pm
Quoting egkid
Hi bro
How r u?
Good advice but mostly we learn it by experience " Hard Way"
i see u r also bearish cable, where do u think it can bottom out in 1 to 3 years time
  • #1,193
  • May 22, 2010 10:45pm May 22, 2010 10:45pm
Quoting Sim
Hello shere!

Any advice or intraday room you are in for a new trader? Going full time starting Monday, been learning fx all this final year of uni now feel confident

Thanks!
just one

drop by drop fills the bucket

so keep your lot size as low as possible and concentrate on collecting more pips, you will find yourself to be a very consistent and profitable trader in due course of time.
  • #1,194
  • May 23, 2010 7:20am May 23, 2010 7:20am
With proper Money Management you ONLY need 20 pips/day to get to your first million in a reasonable time. It is the human greed that kicks us off the planned track all the time.
  • #1,195
  • May 23, 2010 10:02am May 23, 2010 10:02am
Updated My Trade Plan (http://www.forexlionfx.com/index.php/my-trade-plans) for next week on cable


.
  • #1,196
  • May 23, 2010 10:20am May 23, 2010 10:20am
Dear forex lion ..
i see you have a lot of followers. and you really try to help each and everyone of them .. i hope you can try to do the same for me as well .
please kindly tell me what do the EA and the indicators does ? please ..
  • #1,197
  • May 23, 2010 11:52am May 23, 2010 11:52am
Quoting Freddyfx
With proper Money Management you ONLY need 20 pips/day to get to your first million in a reasonable time. It is the human greed that kicks us off the planned track all the time.
But it depends on how much you ear via every green pip. If we calculate 10usd /pip than it takes around 60 month to get close to 400k. But Im agree that human greed destroy a lot of planned things.
Regards, Shigeru.
  • #1,198
  • May 23, 2010 11:58am May 23, 2010 11:58am
A nice plan, forexlion.
Quoting forexlion
Updated My Trade Plan (http://www.forexlionfx.com/index.php/my-trade-plans) for next week on cable


.
  • #1,199
  • May 23, 2010 9:02pm May 23, 2010 9:02pm
Quoting Leche Mocha
A nice plan, forexlion.
Thanks

Just woke up on a cool Monday morning, and decided to have a look at the economic calendar for the day, before I open MT4

well, seems Europe is enjoying in Hawaii !!! plenty of Bank Holidays = Low Liquidity = Indicators are not gonna work properly.

I think I can sleep on till London open now

http://img39.imageshack.us/img39/4592/calendarv.gif
  • #1,200
  • May 23, 2010 9:07pm May 23, 2010 9:07pm
Quoting forexlion
Thanks

Just woke up on a cool Monday morning, and decided to have a look at the economic calendar for the day, before I open MT4

well, seems Europe is enjoying in Hawaii !!! plenty of Bank Holidays = Low Liquidity = Indicators are not gonna work properly.

I think I can sleep on till London open now

http://img39.imageshack.us/img39/4592/calendarv.gif
Looking at the charts now, I seriously doubt if 1.4517 can be broken, so oh well, this is gonna be a boring day today.

http://img401.imageshack.us/img401/203/cabley.gif
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