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Cable Update (GBPUSD)

  • #230,121
  • Jun 6, 2010 11:07am Jun 6, 2010 11:07am
Quoting Baby-Trader
Guys,
Be careful , if 1.42 broken we will see 1.35 faster than you can imagin.
the problem is what will happen if that 1.35 didn't hold.
See the chart.
Nice INFO, Bro

I got Smell it in My Post #225234 May 10, 2010 1:10am
Almost ONE Month ago...
Always looking the GREAT, never left GOOD Point...
  • #230,122
  • Jun 6, 2010 11:09am Jun 6, 2010 11:09am
Quoting wormboy
dx approaching very strong supp/res level ard 90.
be prepared for wild swings. attached chart here


good luck
Hey Dragon... ops Wormie.
Nice to meet you again, Bro

Thank's for Analysis about DX
Always looking the GREAT, never left GOOD Point...
  • #230,123
  • Jun 6, 2010 11:22am Jun 6, 2010 11:22am
Quoting cloggie
Here is the first inkling of trouble at the powerhouse, if they are starting to curtail spending how are they expected to bailout the rest of them:

http://online.wsj.com/article/BT-CO-...atestheadlines

http://news.bbc.co.uk/1/hi/business/10249804.stm

http://www.businessweek.com/news/201...-spending.html
Hi cloggie,

Thank's so much your INFO, Bro
Always looking the GREAT, never left GOOD Point...
  • #230,124
  • Jun 6, 2010 11:53am Jun 6, 2010 11:53am
Thanks for accepting me in Bro.....
Quoting kill56
welcome to the crackforex house

i like what i see keep it up
  • #230,125
  • Jun 6, 2010 12:54pm Jun 6, 2010 12:54pm
To everyone who loves Cable like I do, this is for you... cash in before market open; just don't forget you're jumping on the train for a long ride
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4.gif Size: 22 KB
From the tips to the dips, it's all about the pips
  • #230,126
  • Jun 6, 2010 1:31pm Jun 6, 2010 1:31pm
Here's my analysis to start the week. I'm not looking down yet.

  1. Weekly

    1. Coming off the 78.2 fib
    2. Last week gravestone doji (inverted pin bar) and prev week rickshaw doji - indicates uncertainty at the moment and could mean a change in trend
    3. Side note for the long term - trend is down, but move above 5525 brings a pennant formation into play

  2. H4

    1. At the 61.8 fib
    2. 4445 PPZ has some good S/R history - more than just the last couple of months (the trendline is theoretical for now)

  3. H1

    1. First target - 4545 just above 38.2 fib. MAs should be converging just above that level.
    2. All possible targets with fib & PPZ in yellow boxes.

My ace in the hole is Wormie's DXY analysis Amazingly consistent.

I'm flat now and will wait for the MAs and Cams to lead the way.

If I'm wrong, then I'll look down to 4375 - 78.2 fib and the next LTL, but will still keep eventual upside as an option (see H4 chart). Feedback is appreciated.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd W 20100606a.gif Size: 23 KB
Click to Enlarge Name: gbpusd H4 20100606a.gif Size: 26 KB
Click to Enlarge Name: gbpusd H1 20100606a.gif Size: 24 KB
The market is always right.
  • #230,127
  • Jun 6, 2010 2:13pm Jun 6, 2010 2:13pm
Quoting newbie_fx
If you sink your head in what I have written. This is for beginners. And if you keep reading further than 2 lines you will find out that you can trade with 1:50 leverage maximum. Initial money management helps you not to blow your account like so many traders do. My point is to protect your initial investment.

If you start with the rules of this MM you will never suffer a Margin Call. Later you can start with trading big if you start becoming successful.

Thanks for your reply anyway.

Newbie_fx
good post and you are on the right track .

mm is key in this game , you can have the best system in the world but if you have one bad trade with to much leverage boom goes the account
Those that say they make 1600% in 2 weeks ON account (not on trade) are risking almost all their account per trade. as soon as market gfoes out of range and into trend they are not ready ready for ... kaboom

as mentioned last week those that are still in this business in 10 years and making money at it are those that manage risk the best , not those with the best systems
Blogging daily now at www.volume.zone
  • #230,128
  • Jun 6, 2010 2:17pm Jun 6, 2010 2:17pm
Quoting mouse09
Guys, my strategy is 5-8% every day (compound).

I have lost very much already.

Could you explain me please, is it safe if I'm making 5% when I catch 45 pips?

*I'm ONLY gbp/usd trader and usually shut off my orders if I see minus 70 pips.
5-8% is to high . What do you risk to make this and how many trades do you do that are profitable

if you risk 5% to make 5% you need to be profitable more than 55% of the time to make it worth your while.

I am a fairly advanced trader and I have about 70% accuracy on trades , but my losses are much smaller than my gains.

look to risk only 1% on account make per trades , look to make 1 to 1.5 % per trade ( 50 pip stop to 75 pip tp ) , keep track of %age profitable trades,. If you are under 50% you better look at your trading skills before you go any further .

hope this helps
Blogging daily now at www.volume.zone
  • #230,129
  • Jun 6, 2010 2:21pm Jun 6, 2010 2:21pm
Quoting ramksanj
I have read the post by Kill56 and have drawn the fib on the chart attached, can you please have a look and let me know if i have done it right.
Also as per my understanding after reading the earlier post is it right to make the assumption that as it has retraced to 38.2 it is now expected that it would fall to the 138.2 levels, if it fails to move up and beyond the 23.6 levels.

Please help me with my understanding ....


Many thanks for your kind help.
here is where fib expansion come in handy

you have a high , low and lower high , or a 1-2-3 sell formation on which you can place fe ... the 61.8 is our 1st target

Attached Image (click to enlarge)
Click to Enlarge Name: eu05.gif Size: 29 KB
Blogging daily now at www.volume.zone
  • #230,130
  • Jun 6, 2010 2:24pm Jun 6, 2010 2:24pm
low so far 4432 which isn 261.8 of that prev wave on 4 hour chart lets see if we can now go up 78% of this 261.8 which would be that 4629 area i have been speaking of oanda is open now and we just bounced right off of 1.4432
Attached Image (click to enlarge)
Click to Enlarge Name: pound 4 hr s.gif Size: 15 KB
  • #230,131
  • Jun 6, 2010 2:24pm Jun 6, 2010 2:24pm
follow up

here is a euro chart .... on shorter time frames with fib expansions the 100 and then the 161.8 are you targets

think it is by chance price move down to the 161.8 today on eu at open

Attached Image (click to enlarge)
Click to Enlarge Name: chart2292.png Size: 140 KB




Quoting malcolmb14
here is where fib expansion come in handy

you have a high , low and lower high , or a 1-2-3 sell formation on which you can place fe ... the 61.8 is our 1st target

Attachment
Blogging daily now at www.volume.zone
  • #230,132
  • Jun 6, 2010 2:29pm Jun 6, 2010 2:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: pound 4 hr sl.gif Size: 17 KB
  • #230,133
  • Jun 6, 2010 2:33pm Jun 6, 2010 2:33pm
s and p and fib expansions on daily .... 1-2-3 sell formation , bounced off 78.6 to form bear flag , breaking bear flag in coming week with target 161.8 at 916.

this may take gu down to 1.3680 seen in 2001


Attached Image (click to enlarge)
Click to Enlarge Name: chart2293.png Size: 171 KB
Blogging daily now at www.volume.zone
  • #230,134
  • Jun 6, 2010 2:39pm Jun 6, 2010 2:39pm
hi all

mal thanks for the help

till now we are gaping down

gu 14432

eu 11947
  • #230,135
  • Jun 6, 2010 2:48pm Jun 6, 2010 2:48pm
I like this one looks like symmetrical H & S. might fool some people into going long then fall like a rock

Quoting kill56
my 2drakhmas i might be wrong
http://cdn.forexfactory.com/attachme...1&d=1275839389
"The real genius is knowing when to stop." - Marc Faber
  • #230,136
  • Jun 6, 2010 3:19pm Jun 6, 2010 3:19pm
Oanda has 44121 and 19244 for fibre.
  • #230,137
  • Jun 6, 2010 3:35pm Jun 6, 2010 3:35pm
Quoting malcolmb14
here is where fib expansion come in handy

you have a high , low and lower high , or a 1-2-3 sell formation on which you can place fe ... the 61.8 is our 1st target

Attachment
If the first target met,
I'm sure we will see the third target and beyond it. maybe 1.20xx
  • #230,138
  • Jun 6, 2010 3:40pm Jun 6, 2010 3:40pm
IFC Markets

GU 4409
EU1921
A little beginner trader since 2006
  • #230,139
  • Jun 6, 2010 3:57pm Jun 6, 2010 3:57pm
Quoting Baby-Trader
If the first target met,
I'm sure we will see the third target and beyond it. maybe 1.20xx
I am super bearish on US markets and think we will get a double bottom test if 1050 breaks on s and p
Blogging daily now at www.volume.zone
  • #230,140
  • Jun 6, 2010 4:27pm Jun 6, 2010 4:27pm
when the prices opens down, what is the best thing to do? wait for the retracement?
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