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Cable Update (GBPUSD)

  • #238,461
  • Jul 15, 2010 11:04am Jul 15, 2010 11:04am
4th time for shorts at 1.5357?
http://screencast.com/t/MjRlMGQ1
  • #238,462
  • Jul 15, 2010 11:06am Jul 15, 2010 11:06am
we tagged on to USA now London closed.
  • #238,463
  • Jul 15, 2010 11:21am Jul 15, 2010 11:21am
we need a retrace... its almost 60 hours just going high...

i believe in a continuous high trend, but all trends have retraces... im shorting now
target 1.52xx
  • #238,464
  • Jul 15, 2010 11:24am Jul 15, 2010 11:24am
Quoting nAVIN2007
np

lets eat
bring it and join me
Attached Image
  • #238,465
  • Jul 15, 2010 11:26am Jul 15, 2010 11:26am
http://clip2net.com/page/m0/6824218

sooner or later we will hit at least the 38.2% of fibo

of course, if the price makes a new high before hit the 38,2 we have to adjust the fibo... for now, i have this target...
  • #238,466
  • Jul 15, 2010 11:29am Jul 15, 2010 11:29am
A few things to digest..

1. Friday sell off....

2. If you look at this 4 hour chart, we are at major resitence I mentioned we would have a hard time breaking. 4Hr candle closed below this resistence line (Purple Line)

3. Salmon dotted line is one of the upper channel lines. This resistence and this channel are at the same spot and price could not go any higher today.

Not saying I am going to go short, but I am watching those 4Hr closes on these two points.

Here is the H4 and Di chart. On the D chart I have marked the channel line which corresponds to the salmon dotted line on my H4 chart.

If I get a bullish candle, I am going short! ..Sorry, this was a typo and so left it! Not making fun of anyone.. I took my short loss today as well, but countered with some nice long scalps...

Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 35 KB


Attached Image (click to enlarge)
Click to Enlarge Name: d1.gif Size: 46 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,467
  • Jul 15, 2010 11:33am Jul 15, 2010 11:33am
im trading forex for 2 months, im very noob...thats the reason im still learning how the prices of each pair moves...
i can see big trends on GU
http://clip2net.com/page/m0/6824336

A LOT OF TIME going high, but the fibo retracement show up all the time...
thats the reason im going short...
if not making new high, its ok, if do, i have to keep adjusting my fibo and seling highs...
  • #238,468
  • Jul 15, 2010 11:36am Jul 15, 2010 11:36am
Quoting baruch
im trading forex for 2 months, im very noob...thats the reason im still learning how the prices of each pair moves...
i can see big trends on GU
http://clip2net.com/page/m0/6824336

A LOT OF TIME going high, but the fibo retracement show up all the time...
thats the reason im going short...
if not making new high, its ok, if do, i have to keep adjusting my fibo and seling highs...
bro go back a few pages and read some of cloggie's posts
  • #238,469
  • Jul 15, 2010 11:39am Jul 15, 2010 11:39am
kill, do you have a good indy to draw trend lines?
  • #238,470
  • Jul 15, 2010 11:42am Jul 15, 2010 11:42am
Quoting kill56
bro go back a few pages and read some of cloggie's posts
hello kill!
i always read his posts, and yours too (you helped me alot already)
but i was feeling too "dependent" of other trader's help.

thats the reason, this week i just came here to post... i didnt read most of posts and i didnt follow any... im just trying to do what i learned and see what happened... you know, im in the begining, i have to creat my own way to trade, as you and cloggie have yours...
  • #238,471
  • Jul 15, 2010 11:44am Jul 15, 2010 11:44am
Quoting baruch
hello kill!
i always read his posts, and yours too (you helped me alot already)
but i was feeling too "dependent" of other trader's help.

thats the reason, this week i just came here to post... i didnt read most of posts and i didnt follow any... im just trying to do what i learned and see what happened... you know, im in the begining, i have to creat my own way to trade, as you and cloggie have yours...
still... you should go back and read his posts....
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,472
  • Jul 15, 2010 11:46am Jul 15, 2010 11:46am
Quoting baruch
hello kill!
i always read his posts, and yours too (you helped me alot already)
but i was feeling too "dependent" of other trader's help.

thats the reason, this week i just came here to post... i didnt read most of posts and i didnt follow any... im just trying to do what i learned and see what happened... you know, im in the begining, i have to creat my own way to trade, as you and cloggie have yours...
great bro keep it up happy for u
  • #238,473
  • Jul 15, 2010 11:47am Jul 15, 2010 11:47am
Complete cycle Bull from -2 median grid to +2 medin grid ....
Short area coming !!!


http://i233.photobucket.com/albums/e...r/GU_15JUL.jpg
  • #238,474
  • Jul 15, 2010 11:57am Jul 15, 2010 11:57am
Quoting 4xStar
I learned it from a Nigerian trader a couple of years ago....
Beatiful moves AND a beautiful tale to go with it. Thanx so much. I've never known how to deal in that sort of small range before and have wasted hours watching for the eventual breakout and/or have arrived"late"and jumped in without a clear view. You are a Star..Have printed this post of yours as is a milestone of my journey as well as being beautiful to read.
All systems of divination, like music itself,work through patterns.
  • #238,475
  • Jul 15, 2010 11:57am Jul 15, 2010 11:57am
Quoting damonl
still... you should go back and read his posts....

Hi damon,

Let me explain my point of view... I know Cloggie is a great trader, but he will not all the time posting tips and his charts for me. As I said, i received a lot of help here, but I took this week to trader by my own. Who in 2 months was already a greater trader? maybe exist, but its rare, and I dont want make a lot of money this week, i want learn... I think its best i learn now and make money later, instead make money using other traders, and when i will be by my own, i dont know what to do...
  • #238,476
  • Jul 15, 2010 12:00pm Jul 15, 2010 12:00pm
here u go
Attached Image (click to enlarge)
Click to Enlarge Name: 4h cable.gif Size: 17 KB
  • #238,477
  • Jul 15, 2010 12:02pm Jul 15, 2010 12:02pm
Quoting baruch
im trading forex for 2 months, im very noob...thats the reason im still learning how the prices of each pair moves...
i can see big trends on GU
http://clip2net.com/page/m0/6824336

A LOT OF TIME going high, but the fibo retracement show up all the time...
thats the reason im going short...
if not making new high, its ok, if do, i have to keep adjusting my fibo and seling highs...
baruch, try my method, if you wish:

http://img.pixs.ru/storage/0/5/7/gbp...538_818057.jpg

green - buy
yellow - sell
blue - stop loss

any TF, any pair. good luck
  • #238,478
  • Jul 15, 2010 12:18pm Jul 15, 2010 12:18pm
Quoting 4xStar
I learned it from a Nigerian trader a couple of years ago....
Pakute..yay! Just noticed that the 100/ 5min. catches it even when its gone through the 200 (1000) on the 1 min. Price on the barby from now on
All systems of divination, like music itself,work through patterns.
  • #238,479
  • Jul 15, 2010 12:25pm Jul 15, 2010 12:25pm
Quoting kaspopsicle
Pakute..yay! Just noticed that the 100/ 5min. catches it even when its gone through the 200 (1000) on the 1 min. Price on the barby from now on
just goes to show people have no idea..
the trendline means buy dips..people are seeing and not believing
  • #238,480
  • Jul 15, 2010 12:31pm Jul 15, 2010 12:31pm
Quoting nAVIN2007
just goes to show people have no idea..
the trendline means buy dips..people are seeing and not believing

For some reason the bulk of noobs here just enjoy playing and predicting countertrends, life for them would be so much easier if they could just get their head around what a trend is, how to recognise it and how to buy on opportunities within the trend. Countertrending is not something a noob should even entertain or think about, leave that till you have mastered following the rest of the 1,000's of traders that are all going the same direction.
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