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Cable Update (GBPUSD)

  • #245,801
  • Aug 15, 2010 4:17pm Aug 15, 2010 4:17pm
Quoting highlander2
Im with you on this, i think we are going to break this trend line, to whatever degree, i got short begining of last week as we were "drifting" up on low volume, and formed an inside bar under the psychological level of 1.6000, added to the position on the way down, took the first position off +300pips. The chances last weeks low wont be violated is very very unlikely, but not impossible. A large gap to the down side would not surprize me come sunday night.
Going to eixit last short position if we move up at all, up 240 at the mo, thought we might see a gap down, but no luck, i think we are going to see a rally or retrace before further legs down, im pretty sure last weeks low will break, always ready to take a long though if the situation changes, but for now i remain on the bearish side.

I think this pair has everyone talking at the moment! good trading to all.
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  • #245,802
  • Aug 15, 2010 4:19pm Aug 15, 2010 4:19pm
Most correction are done at 61.8%. Why not this one!...
"Flip that coin!"
  • #245,803
  • Aug 15, 2010 4:35pm Aug 15, 2010 4:35pm
what gap?

matter of fact .. what gap up?? mine printed 570
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Thank You
  • #245,804
  • Aug 15, 2010 4:40pm Aug 15, 2010 4:40pm
Lol its a very small one though but mine shows a gap indeed
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  • #245,805
  • Aug 15, 2010 4:40pm Aug 15, 2010 4:40pm
Quoting wormboy
what gap?

matter of fact .. what gap up?? mine printed 570
Hi Azim,

could you be kind enough to tell what program you are using over that pics plz!
And any reason why you use it instead of MT4.

Thx, wish you good trades!

(ps: If this manage to close a 4h under 1.5580 (23.6% of move up from 1.4230), this will send the signal for further down move).
"Flip that coin!"
  • #245,806
  • Aug 15, 2010 4:46pm Aug 15, 2010 4:46pm
Quoting Scipionz
Hi Azim,

could you be kind enough to tell what program you are using over that pics plz!
And any reason why you use it instead of MT4.

Thx, wish you good trades!

(ps: If this manage to close a 4h under 1.5580 (23.6% of move up from 1.4230), this will send the signal for further down move).
hi matt

it's marketscope. I have an acct with fxcm

have a good one!
Thank You
  • #245,807
  • Aug 15, 2010 4:47pm Aug 15, 2010 4:47pm
Quoting wormboy
hi matt

it's marketscope. I have an acct with fxcm

have a good one!
Thx ya! You too!

"Flip that coin!"
  • #245,808
  • Aug 15, 2010 4:55pm Aug 15, 2010 4:55pm
well guys & gals....looking good for longs...

she opened above last week's low of 1.5562 (as anticipated...)

seems that concrete floor of mine getting harder and harder...

cya LDN!
Hear the music before the song is over ...
  • #245,809
  • Aug 15, 2010 5:01pm Aug 15, 2010 5:01pm
Quoting GlobalMacro
well guys & gals....looking good for longs...

she opened above last week's low of 1.5562 (as anticipated...)

seems that concrete floor of mine getting harder and harder...

cya LDN!

global

nice risk reward ratio if this up trenline holds on the daily.
  • #245,810
  • Aug 15, 2010 5:04pm Aug 15, 2010 5:04pm
Quoting alex1976
global

nice risk reward ratio if this up trenline holds on the daily.
you got it...

alright I'm outta here...have a good one!
Hear the music before the song is over ...
  • #245,811
  • Aug 15, 2010 5:07pm Aug 15, 2010 5:07pm
Quoting GlobalMacro
well guys & gals....looking good for longs...

she opened above last week's low of 1.5562 (as anticipated...)

seems that concrete floor of mine getting harder and harder...

cya LDN!
Not to sound dumb would just like some input and yes i know you cant pin point these stuff but i like opinions.
Do you have a rough estimate as to how far you think its going up for now?
  • #245,812
  • Aug 15, 2010 5:29pm Aug 15, 2010 5:29pm
Hey the other day i askd whts the best time for your daily close so the one guy said 5pm EST i kinda think he might be right, but i forgot to ask, is there any way you can set your daily close to 5pm est, if not, can anyone give me the name of a respectable broker tht does have tht closing time for daily, i would like to compair annalysis and my charts alittle.

Thanks.
  • #245,813
  • Aug 15, 2010 5:32pm Aug 15, 2010 5:32pm
i have a demo with fxlite just for charts, they are NY close.
  • #245,814
  • Aug 15, 2010 5:34pm Aug 15, 2010 5:34pm
Quoting highlander2
i have a demo with fxlite just for charts, they are NY close.
Kwl man, thanks very much.
  • #245,815
  • Aug 15, 2010 5:51pm Aug 15, 2010 5:51pm
Quoting CoffeeDrinke
Hey the other day i askd whts the best time for your daily close so the one guy said 5pm EST i kinda think he might be right, but i forgot to ask, is there any way you can set your daily close to 5pm est, if not, can anyone give me the name of a respectable broker tht does have tht closing time for daily, i would like to compair annalysis and my charts alittle.

Thanks.

IKON Royal works on NY 5pm EST close and is a MT4 broker. I use to use them.

Best Wishes.
  • #245,816
  • Aug 15, 2010 6:00pm Aug 15, 2010 6:00pm
Quoting CoffeeDrinke
Not to sound dumb would just like some input and yes i know you cant pin point these stuff but i like opinions.
Do you have a rough estimate as to how far you think its going up for now?
If price continues up the supply area is the first target on a D1 chart. There are other supply areas on the h4 and smaller time frames that must first be broken.
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  • #245,817
  • Aug 15, 2010 6:12pm Aug 15, 2010 6:12pm
Quoting mdiz2
If price continues up the supply area is the first target on a D1 chart. There are other supply areas on the h4 and smaller time frames that must first be broken.
Thanks for your opinion man, i like compairing my thoughts with others
  • #245,818
  • Aug 15, 2010 6:21pm Aug 15, 2010 6:21pm
Quoting CoffeeDrinke
Thanks for your opinion man, i like compairing my thoughts with others
I found these videos by Sam Seiden on Trade Prices thread and got a lot of good free information from them. They go hand in hand with the box trading that has been discussed here by Cloggie. They gave even more meaning to the boxes.

Being I am fairly new to forex, 10 months, I found these extremely helpfull.
http://www.forexfactory.com/showthre...17281&page=137
  • #245,819
  • Aug 15, 2010 6:34pm Aug 15, 2010 6:34pm
damn alot of links haha, think ill have a look at tht tomorrow, i have though read a pdf of him supply and demand, but hey, if there is one new piece of material in those vids then i learnd somthing new.
So thank you.
  • #245,820
  • Aug 15, 2010 6:41pm Aug 15, 2010 6:41pm
Quoting CoffeeDrinke
damn alot of links haha, think ill have a look at tht tomorrow, i have though read a pdf of him supply and demand, but hey, if there is one new piece of material in those vids then i learnd somthing new.
So thank you.
Here is a low risk trade I just entered following what I learned.
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