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Cable Update (GBPUSD)

  • #257,041
  • Sep 29, 2010 5:08am Sep 29, 2010 5:08am
Because the h4 has met its targets, we can remove the FE's and fib the new swing lo to hi. I kind of think that price could come down to the 50-61.8 and form bullish HD at that point. Have to keep an eye on the DX. Just a thought.
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  • #257,042
  • Sep 29, 2010 5:08am Sep 29, 2010 5:08am
Quoting pawpaw1000
Scalping long here because of the H1 close (long wick) and the range support just below us. Figure we might go as far as 5750 but will add there...
The 5min pinbar Pinbar candle was certainly a good rejection candle..be interesting to see what develops on higher t/f's...intraday sentiment remains bearish overall as I write this.

G/L
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ex member
  • #257,043
  • Sep 29, 2010 5:08am Sep 29, 2010 5:08am
Just added 1/4 lot long 'cos it broke the mornings trendline and dow futures have just gone positive.

Edit. and that already looks like a mistake!
This space intentionally left blank.
  • #257,044
  • Sep 29, 2010 5:09am Sep 29, 2010 5:09am
Quoting cloggie
So you agree with me then, I called Dixy the chicken.
I do not understand how for years people have debated this question !!

There can be only 1 answer and it is not up for debate !!

EGG
  • #257,045
  • Sep 29, 2010 5:09am Sep 29, 2010 5:09am
mmm Dixy's Chicken...
  • #257,046
  • Sep 29, 2010 5:10am Sep 29, 2010 5:10am
Quoting master4forex
http://www.fx1618.com/images/bull_bear_wolfewave.gif

dude..i have to agreee with q..u need to get a grip brother half of this place probably already have u on there ignore and u coming close to another one..

please post analysis, banter is good..but picture every 2 seconds is getting nuts..
  • #257,047
  • Sep 29, 2010 5:10am Sep 29, 2010 5:10am
Quoting cloggie
So you agree with me then, I called Dixy the chicken.
To me the DIXY is just a mathematical algorithm for what you see on your charts.
  • #257,048
  • Sep 29, 2010 5:11am Sep 29, 2010 5:11am
Quoting Dayboy001
I do not understand how for years people have debated this question !!

There can be only 1 answer and it is not up for debate !!

EGG

But the dixy therefore can't be the egg and has to be the chicken.
  • #257,049
  • Sep 29, 2010 5:13am Sep 29, 2010 5:13am
Quoting cloggie
But the dixy therefore can't be the egg and has to be the chicken.
I agree with you the DIXY is the chicken.

I was talking about the question in general !!

The EGG came first (as in before the chicken)

(sorry to confuse)
  • #257,050
  • Sep 29, 2010 5:14am Sep 29, 2010 5:14am
For me the intraday is bearish, h4 closes below the pivot, then H1 creates LLOW. Currently trading under DP and rejection of price was not so big... Yeah, there is a wick on last H1 candle, but this candle is still bearish... keeping my shorts and looking to hit my target 5720
  • #257,051
  • Sep 29, 2010 5:14am Sep 29, 2010 5:14am
Quoting Dayboy001
I agree with you the DIXY us the chicken.

I was talking about the question in general !!

The EGG came first (as in before the chicken)

(sorry to confuse)

I am a trader, not a bloomin' biologist.
  • #257,052
  • Sep 29, 2010 5:15am Sep 29, 2010 5:15am
Quoting cloggie
I am a trader, not a bloomin' biologist.


I figured as you have taught me a few things it was only fair I returned the favour !!
  • #257,053
  • Sep 29, 2010 5:17am Sep 29, 2010 5:17am
Quoting scurt
For me the intraday is bearish, h4 closes below the pivot, then H1 creates LLOW. Currently trading under DP and rejection of price was not so big... Yeah, there is a wick on last H1 candle, but this candle is still bearish... keeping my shorts and looking to hit my target 5720
Nice analysis. Have you been doing this long?
  • #257,054
  • Sep 29, 2010 5:18am Sep 29, 2010 5:18am
Quoting cloggie
Dixy is not showing a pretty picture, but you can't judge the future of a currency based on that alone, the markets are a bit more complex. I see the Dixy more as an economic tool and indicator then useful for currency trading on a day to day basis.
Agreed. I would not enter a trade just because of a certain DX level although I have found it has sometimes served as a useful chart for some additional confirmation. Do you use the GBP/LFX chart from liteforex?
  • #257,055
  • Sep 29, 2010 5:19am Sep 29, 2010 5:19am
Quoting cloggie
I am not going to look for longs at all on Cable until I see how 5777 and 5747 fair. Just scalping the shorts for now.

Still following my plan pretty much to the pip when it comes to reversal levels. 5777 held nicely so am looking for long scalps now. 5792 and the DP are the keys here for that game plan to hold up.

It is just one of those days and I should be happy with 15-20 pip trades I guess.

Eyeballing 5808
  • #257,056
  • Sep 29, 2010 5:20am Sep 29, 2010 5:20am
Quoting uksnowman
Agreed. I would not enter a trade just because of a certain DX level although I have found it has sometimes served as a useful chart for some additional confirmation. Do you use the GBP/LFX chart from liteforex?

I don't use any indices when it comes to currencies, the weighing skews the results too much for my liking, they are good economic tools but I don't like them for intraday setups.
  • #257,057
  • Sep 29, 2010 5:21am Sep 29, 2010 5:21am
My personal opinion (for what it's worth) is:

We have seen todays low, which was just to clear a few positions.
Now we should see a move back in line with trend.
However I would not advise a long until we have cleared the DP

Opinions on my point of view gladly received, but please don't trade on it !!
  • #257,058
  • Sep 29, 2010 5:23am Sep 29, 2010 5:23am
well trading forex for 2 years... 9month for fulltime...
dont using any complicated indicators...
try to make it simple, when above DP bulls are in control, below - bears... watching PA, and S/R with fibo levels... work for me fine...

Quoting Delite
Nice analysis. Have you been doing this long?
  • #257,059
  • Sep 29, 2010 5:27am Sep 29, 2010 5:27am
got in 2 pos long... targeting 5860
@pawpaw1000 on Twitter
  • #257,060
  • Sep 29, 2010 5:30am Sep 29, 2010 5:30am
make it higher bro .....
Quoting pawpaw1000
got in 2 pos long... targeting 5860
not euphoria follower
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