unfortunaly for me am locked up in long trades.so is there any chance of breakn 5230 level upwards pals?
Cable Update (GBPUSD)
- #235,402
- Jul 2, 2010 11:53am Jul 2, 2010 11:53am
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,091 Posts
unfortunaly for me am locked up in long trades.so is there any chance of breakn 5230 level upwards pals?
- #235,405
- Jul 2, 2010 2:52pm Jul 2, 2010 2:52pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #235,407
- Jul 2, 2010 4:13pm Jul 2, 2010 4:13pm
unfortunaly for me am locked up in long trades.so is there any chance of breakn 5230 level upwards pals?
Cable is now poised to challenge the top of a downward sloping channel established from Sep-Nov 2009 (now at 1.5280). A break above this boundary exposes major resistance levels at 1.5529 and 1.5797
The top today was 1.5280, monday (holiday) it will be 1.5271, i dont think we will test it and Tuesday it will be 1.5259 which is also our next resistance, and we should test it then. So that should be the top of this up move and then we can all start selling
- #235,409
- Jul 2, 2010 8:42pm Jul 2, 2010 8:42pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,091 Posts
Well traders , looks to be a crunch time here , we are at or very near the top of a daily decending channel and at the top of the ascending channel we have been in for four weeks now , does it behave nicely and start dropping to the bottom of the respective channels or does it pop and visit the 200 sma for the 1st time since last Jan . Arguments for shorts , we are at or very near the tops of the channels and until the horse throws you off go with what has been working lol, Reasons for still thinking long, we are above the 200 ema s thru the 12 hour timeframe now with this last rocket shot up coming from that area and the daily 200 being the next one on the list to test. It should be interesting the next few weeks as this gets sorted out . 1st chart is the daily chart , 2nd chart an 8hour chart . trade well and cheers all 
- #235,410
- Jul 2, 2010 9:58pm Jul 2, 2010 9:58pm
Ah , did you maybe buy on the spike up on the release , always a chance till there isint , may get a pop up near tht area but as each tic goes by even tht is starting to look like a slimmer and slimmer chance , sure the holiday has things skewed a bit but a chart to show some areas we could visit channel has been reliable for a few weeks now , I am sht a few from the spike high , will close most before week-end cheers all Attachment
+indithank you
- #235,411
- Jul 2, 2010 11:56pm Jul 2, 2010 11:56pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Well traders , looks to be a crunch time here , we are at or very near the top of a daily decending channel and at the top of the ascending channel we have been in for four weeks now , does it behave nicely and start dropping to the bottom of the respective channels or does it pop and visit the 200 sma for the 1st time since last Jan . Arguments for shorts , we are at or very near the tops of the channels and until the horse throws you off go with what has been working lol, Reasons for still thinking long, we are above the 200 ema s thru the 12...
- #235,413
- Jul 3, 2010 6:44am Jul 3, 2010 6:44am
Hello fellow trader, well i must confess to that i understand and enjoy this message and post you have in here. for long i have been searching for some with ur kind of idea on candle stick pattern. Now that you are here, may be we could share ideas. well if you wont mind, i will like to have your yahoo chat ID or skype if you do have.
Bring it on.
Bring it on.
Hi,
Your chart and analysis are quite good.
I see that GU has some resistance around 1.5235 - 1.5250 or 1.5278 - 1.5285, based on support and resistance nearby. Also, 1.5300 level is a strong psychology price level to hold the price quite well, I believe.
The NFP news came out not so unexpected, and so, yesterday, GU did not make strong upmove or downmove. Price was in fact discounted in price on last Thursday in advance, I opine.
I prefer to go short at above levels when seeing reversal candlesticks on 4h timeframe and 1h timeframe...
- #235,414
- Jul 3, 2010 8:02am Jul 3, 2010 8:02am
Hi all.
I love reading all your posts on here but I don't post much as I'm too new to Forex and still finding my feet.
Looking forward to next week I also see a ton of resistance around 1.5300 on weekly and Daily charts.
However I thought I'd post this chart for a really long term view. A quarterly chart.
The last candle is the new candle just opened this QTR ( July-Sep )
To me it looks bullish, although we are in a symmetrical triangle. RSI also supports a bullish Bias.
Plenty of pips to be made if you get the direction right.
Just thought I'd share and say hello.
I love reading all your posts on here but I don't post much as I'm too new to Forex and still finding my feet.
Looking forward to next week I also see a ton of resistance around 1.5300 on weekly and Daily charts.
However I thought I'd post this chart for a really long term view. A quarterly chart.
The last candle is the new candle just opened this QTR ( July-Sep )
To me it looks bullish, although we are in a symmetrical triangle. RSI also supports a bullish Bias.
Plenty of pips to be made if you get the direction right.
Just thought I'd share and say hello.
- #235,417
- Jul 3, 2010 10:23pm Jul 3, 2010 10:23pm
Not wanting to start a fight but that's a generalisation, I'm well over 70% accuracy and yes I'm making very good money hence I hardly post on here but to say I should be working risk free and making billions is somewhat silly.
I've been offered to manage other peoples money but why would I when I can take all the profit for myself and have no stress?
But anyway, 50% accuracy is more than enough to make silly money!
It simply makes more sense that they manage their own accounts and then relax. Otherwise they are basically saying that they are not much better than average at managing money and have to do it the walmart way by having millions under them and turning very meager profits.
Now I just need my own system to totally pan out so that I can get out of the daily rat race job making money for the man.
- #235,420
- Jul 4, 2010 12:17am Jul 4, 2010 12:17am
hey bro,
well thanks for the info i must say.
i will be travelling through out the week
i wont be able to trade. but i will try and follow up the info though.
take care, am off to school now.
i will reach you when am back bro.
well thanks for the info i must say.
i will be travelling through out the week
i wont be able to trade. but i will try and follow up the info though.
take care, am off to school now.
i will reach you when am back bro.
Hi McMartins,
Thanks for your interests.
We, as fellow traders, should help each other to trade forex successfully, avoid losses, and win consistently. Especially, newbie traders often lose their accounts very easily and quickly to the market because of their not being able to control their emotions, discipline, etc.
So, they will need some guides on where to trade along with the trend, or even against the trend (counter-trend) with tight stop loss around 30 - 60 pips maximum per trade.
By the way, my yahoo chat ID is: james_phuc28
We...