now lets see what she does..61.8 on 4hr swing
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Cable Update (GBPUSD)
- #254,001
- Sep 17, 2010 6:57am Sep 17, 2010 6:57am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #254,006
- Sep 17, 2010 7:07am Sep 17, 2010 7:07am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Break or bounce.
- #254,007
- Sep 17, 2010 7:07am Sep 17, 2010 7:07am
That 50% fib bounce referred to by others in posts above was a fib of a fairly minor swing ie 5571- current 5728 intraday Hi...so much so I didn't have it plotted on my own charts.....nearest swings for me being 5537 and 5594 to that 5728 Hi...just shows that fibs can be subjective....and whilst I agree that 50% can be importnat in cabnle trading, the better tactic is to look for the confluence of potential supp/res factors...for the highest probability trading opportunities.
G/L
Mystery Is The Final Product Of Ignorance.
Hey! What's ma chart doin'
- #254,008
- Sep 17, 2010 7:10am Sep 17, 2010 7:10am
- Joined Mar 2009 | Status: Trader | 1,094 Posts
yur trading has improved so much ..
We are getting a bit of a fundamental setup here. Futures are up on the back of some good tech numbers last night, Ireland is talking about renegotiating some of its debt (German/Irish debt spreads at year high today).
US news could well be the trigger for a further move. I am not going to anticipate a direction from here. The techs and fundies disagree right now and under "normal" conditions I would side with the techies, we'll see.
________________________________
Errare humanum est
- #254,016
- Sep 17, 2010 7:25am Sep 17, 2010 7:25am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
Hit a channel resistance. May not get to see the bat. Waiting for news.
- #254,018
- Sep 17, 2010 7:27am Sep 17, 2010 7:27am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
