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Cable Update (GBPUSD)

  • #245,361
  • Aug 12, 2010 2:05pm Aug 12, 2010 2:05pm
Quoting PipGrabber
Verified on two sites
http://www.earnforex.com/pivot-points-calculator
http://www.mataf.net/en/tools/03-01-pivot-point

and I still don't get Cloggie's S1.
I use the second site you have there and set it to london time. It doesn't match up with what Cloggie has for S1 but it has been plenty accurate for me. I have the price right now fluctuating above and below the weekly S2.
  • #245,362
  • Aug 12, 2010 2:09pm Aug 12, 2010 2:09pm
Quoting mdiz2
I use the second site you have there and set it to london time. It doesn't match up with what Cloggie has for S1 but it has been plenty accurate for me. I have the price right now fluctuating above and below the weekly S2.
Thanks.
  • #245,363
  • Aug 12, 2010 2:15pm Aug 12, 2010 2:15pm
Are they working prim?
Don't be a hero. Don't have an ego. Always question yourself
  • #245,364
  • Aug 12, 2010 2:18pm Aug 12, 2010 2:18pm
Quoting PipGrabber
Thanks.
I mostly use the pivots to see where the price opens in relation to DP. If it opens below DP it has a better chance of going lower. I use this site for the weekly pivots http://dev1.pivotfarm.com/InstrumentsPage.aspx.

I don't use a pivot indicator because my brokers day runs from 12est to 12est and I never know what to set the pivot indicator too.

I only watch cable now and have taken the rest of the pairs off my screen until I can trade it, so It's not a big deal to put the pivots on manually. I have 2 accounts so I can watch 2 time frames on 2 monitors.
  • #245,365
  • Aug 12, 2010 2:20pm Aug 12, 2010 2:20pm
Quoting GlobalMacro
I ran some more numbers and got more supporting evidence that the last drop below 1.5650 down to 1.5562 may have been a downthrust...

Also look at the chart below to find some confluence support lines from historical price action at the descending wedge we are at right now....

Are we looking at a floor right in the face (a la 1.60 ceiling...)?

...cya later!

I calculate 5569 as a possible bottom. We're very close on that one. I got 2822 on fibre
  • #245,366
  • Aug 12, 2010 2:33pm Aug 12, 2010 2:33pm
Quoting cloggie
still got my short fibre.

Closed the short for a measly 21, is this the bottom for both for today?
  • #245,367
  • Aug 12, 2010 2:35pm Aug 12, 2010 2:35pm
Quoting cloggie
I calculate 5569 as a possible bottom. We're very close on that one. I got 2822 on fibre
sounds good to me...
Hear the music before the song is over ...
  • #245,368
  • Aug 12, 2010 2:39pm Aug 12, 2010 2:39pm
Quoting GlobalMacro
sounds good to me...

I covered all positions now, bit thin for my liking, tomorrow is another day. We still had a good run today, 150 pips on both fibre and cable is not bad at all for the summer, can't wait for normal service to resume.

See you guys later.
  • #245,369
  • Aug 12, 2010 2:48pm Aug 12, 2010 2:48pm
Quoting cloggie
I covered all positions now, bit thin for my liking, tomorrow is another day. We still had a good run today, 150 pips on both fibre and cable is not bad at all for the summer, can't wait for normal service to resume.

See you guys later.
Take it easy!
  • #245,370
  • Aug 12, 2010 2:49pm Aug 12, 2010 2:49pm
Quoting cloggie
I covered all positions now, bit thin for my liking, tomorrow is another day. We still had a good run today, 150 pips on both fibre and cable is not bad at all for the summer, can't wait for normal service to resume.

See you guys later.
El Dorado !

the move she put in this week is definitely more than one could ever ask for in the summer lull...maybe the beginning of the end of the summer....

I would say with a clean heavy position on, taking one of these moves to the max would make a good chunk of annual earnings...

cya!
Hear the music before the song is over ...
  • #245,371
  • Aug 12, 2010 2:50pm Aug 12, 2010 2:50pm
evening all, is the general concensus that pound has hit the bottom of its retracement? its at its 50% fib level from 1.51-1.6, but its still 200pips above 200day ma, hasnt tested 1.55, or near its 61.8% level...any ideas?
  • #245,372
  • Aug 12, 2010 2:56pm Aug 12, 2010 2:56pm
Quoting monkey@forex
evening all, is the general concensus that pound has hit the bottom of its retracement? its at its 50% fib level from 1.51-1.6, but its still 200pips above 200day ma, hasnt tested 1.55, or near its 61.8% level...any ideas?

Please trade your own plan, it was just an estimate between me and GM. I know, I am the one to harp on constantly about picking bottoms and here I am actually stating one for both Fibre and Cable.

I really am off now, goodnight guys/girls.
  • #245,373
  • Aug 12, 2010 3:06pm Aug 12, 2010 3:06pm
Quoting cloggie
Please trade your own plan, it was just an estimate between me and GM. I know, I am the one to harp on constantly about picking bottoms and here I am actually stating one for both Fibre and Cable.

I really am off now, goodnight guys/girls.
Just thinking to give up the 25 pips towards 1.555, buy the beast and blame you if it goes wrong
Don't be a hero. Don't have an ego. Always question yourself
  • #245,374
  • Aug 12, 2010 4:37pm Aug 12, 2010 4:37pm
price is below support. Going long is still risky imo.
Might as well wait to see how the D1 close before hurrying. Friday and all later, this could still go thru the floor for shit & giggles before closing bullish lol

good luck anyway
Attached Image (click to enlarge)
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Thank You
  • #245,375
  • Aug 12, 2010 4:42pm Aug 12, 2010 4:42pm
gbplfx is still sliding thru key levels as well. No strength spotted yet.
Just a thought.
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 24 KB
Thank You
  • #245,376
  • Aug 12, 2010 5:10pm Aug 12, 2010 5:10pm
Quoting cloggie
Please trade your own plan, it was just an estimate between me and GM. I know, I am the one to harp on constantly about picking bottoms and here I am actually stating one for both Fibre and Cable.

I really am off now, goodnight guys/girls.
Love it! Goeienacht stinkende vingers!
  • #245,377
  • Aug 12, 2010 5:20pm Aug 12, 2010 5:20pm
Quoting wormboy
gbplfx is still sliding thru key levels as well. No strength spotted yet.
Just a thought.
Something new I learned today!

So what is LFX actually. To put it short, LFX is nothing but a combined value of a currency against the other major currencies, for example to calculate the USDLFX you need the following formula:

USDLFX = SQR ((USDCHF * USDJPY) / (GBPUSD * EURUSD))

But someone else on FF found the correct calculations -

If anyone is interested I found the correct way in which they calculate the USDLFX.

USDLFX = ((USDCHF * USDJPY * USDCAD) / (EURUSD * GBPUSD * AUDUSD))^(1/7)
EURLFX = USDLFX * EURUSD
GBPLFX = USDLFX * GBPUSD

Where did you find the feeds for these? Always good to look at the bigger picture!
  • #245,378
  • Aug 12, 2010 5:43pm Aug 12, 2010 5:43pm
Quoting vilas
Navin -You must be the humblest guy on this Forum full of Never-failing traders and all-knowing Teachers !
  • #245,379
  • Aug 12, 2010 5:54pm Aug 12, 2010 5:54pm
Quoting bbakker
Something new I learned today!

So what is LFX actually. To put it short, LFX is nothing but a combined value of a currency against the other major currencies, for example to calculate the USDLFX you need the following formula:

USDLFX = SQR ((USDCHF * USDJPY) / (GBPUSD * EURUSD))

But someone else on FF found the correct calculations -

If anyone is interested I found the correct way in which they calculate the USDLFX.

USDLFX = ((USDCHF * USDJPY * USDCAD) / (EURUSD * GBPUSD * AUDUSD))^(1/7)
EURLFX = USDLFX * EURUSD
GBPLFX = USDLFX...
You would not believe how much I wanted to understand the ???lfx symbols.
Thanks bbakker for the formulae

Olu
If you think you can or cannot do it you are correct
  • #245,380
  • Aug 12, 2010 5:54pm Aug 12, 2010 5:54pm
Quoting wormboy
price is below support. Going long is still risky imo.
Might as well wait to see how the D1 close before hurrying. Friday and all later, this could still go thru the floor for shit & giggles before closing bullish lol

good luck anyway

Gotta tell ya, I disagree now. I think we head higher on Friday.

I still respect you though!
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