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Cable Update (GBPUSD)

  • #257,781
  • Oct 1, 2010 4:54am Oct 1, 2010 4:54am
Quoting bbmac
76.4% 5921-5668 is breeched to upside but some supply emerging around Daily R1 pivot.....price at 115% of it's 20day average pip range today now..169 up off 5702 current intraday low...other than the underside of a previous 1hr ascending trend line, I don't see much in the way of potential resistance factors above current Hi until yesterday's Hi which is a previous 1hr/4hr swing hi zone...

G/L
K this is all great but completely irrelevant I'm sorry. Notice the 2 giant trend lines it has been bouncing between for weeks???!?! The TL that just turned it TO THE PIP and went 25 pips down?? Good to know that price is at 115% of it's 20 day average pip range though - that's what traders really are watching.
Cap
  • #257,782
  • Oct 1, 2010 4:57am Oct 1, 2010 4:57am
Quoting TheArcher
thank u very much for ur kind comments .

yes , that was my initial target or the resistance i was expecting to meet ... but ,then , " hey, is is weekly chart and long term .. let's just put in the maximum target .. " .... hence the target for now ...

yes , it is a dynamic enviroment ... nothing is cast in stone ... will cross the bridge when we come to it ... how many more weeks .. don't know...

the first 3 candles of the bit i highlighted..have the same same lows but the 3rd candles has a higher close (j16 material) hence the name TBLHC
  • #257,783
  • Oct 1, 2010 4:58am Oct 1, 2010 4:58am
Quoting samirb
Good day everyone

Tp met both position closed at 15865 ...
more than 350+++ pips..

Good luck
Nice work bro
You getting very good every day, Keep the good work
Egkid
  • #257,784
  • Oct 1, 2010 5:01am Oct 1, 2010 5:01am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting egkid
Nice work bro
You getting very good every day, Keep the good work
Egkid

Thanks bro..
how you doing?

Do you expecting breakout today to upside.
I gone short and not expecting breakout before NFP

Regards
  • #257,785
  • Oct 1, 2010 5:02am Oct 1, 2010 5:02am
can someone tell cable to stop donating pips to my account on a friday?

Celebrating 50 years of independence...
  • #257,786
  • Oct 1, 2010 5:02am Oct 1, 2010 5:02am
Quoting The Captain
K this is all great but completely irrelevant I'm sorry. Notice the 2 giant trend lines it has been bouncing between for weeks???!?! The TL that just turned it TO THE PIP and went 25 pips down?? Good to know that price is at 115% of it's 20 day average pip range though - that's what traders really are watching.

You have to pick and choose the info you take notice of in postings on an open forum likje this...I find 90% is rubbish...and this may or may not include my own postings for some-clearly for you it does-Lol!! I trade on the lower t/f's so drilling down into the potential support/resistance factors is importnat for me on a 1 (sometimes 5min trigger) and knowing where price is in realation to it's average pip movements is also useful to me as historically price has agreater tendency for deeper corrections the more extended it is from it's averages...to this extent identifying potential support/resistnace factors and this kind of info is not irrelevant, but each to their own...

G/L
ex member
  • #257,787
  • Oct 1, 2010 5:05am Oct 1, 2010 5:05am
Quoting samirb
Gone short at 15870 ... will add one more at same level if price retest.

Reason bearish gartley..
I dont think market will make new high before NFP next week.. we will be in range for one week..

Good luck
Doesn't a Gartley need a 61.8 retrace on the AB leg before the CD leg puts in the 78.6?

Do these things still work if the pattern looks roughly right?

Thanks
  • #257,788
  • Oct 1, 2010 5:08am Oct 1, 2010 5:08am
Quoting bbmac
You have to pick and choose the info you take notice of in postings on an open forum likje this...I find 90% is rubbish...and this may or may not include my own postings for some-clearly for you it does-Lol!!

G/L
I enjoy reading your posts, bbmac, I must confess I don't understand all of it, but I do understand more and more each day. So please keep posting.

We all have our own way of trading, that is one of the 'nice things about forex', there is no set one way which works any better than another But we should all be able to learn from others here......... Even me
  • #257,789
  • Oct 1, 2010 5:10am Oct 1, 2010 5:10am
Quoting pips stunner
can someone tell cable to stop donating pips to my account on a friday?

Celebrating 50 years of independence...

hi pips tunner happy celebration too same here
  • #257,790
  • Oct 1, 2010 5:12am Oct 1, 2010 5:12am
Quoting samirb
Thanks bro..
how you doing?

Do you expecting breakout today to upside.
I gone short and not expecting breakout before NFP

Regards
what is your SL and Tp

Ub
  • #257,791
  • Oct 1, 2010 5:14am Oct 1, 2010 5:14am
few days ago we were talking about the UK(bad) news...
Now, the price exploted upward...

is there someone can explain how is this possible?
If the future of the Sterling is not good why istitutionals, banks hedge fund bring it up?

Thank you
  • #257,792
  • Oct 1, 2010 5:17am Oct 1, 2010 5:17am
Quoting dptrader
few days ago we were talking about the UK(bad) news...
Now, the price exploted upward...

is there someone can explain how is this possible?
If the future of the Sterling is not good why istitutionals, banks hedge fund bring it up?

Thank you
Cloggie mentioned before Asia going on a buying spree because they want to weaken their own currencies but don't want to hold dollars at the moment
  • #257,793
  • Oct 1, 2010 5:21am Oct 1, 2010 5:21am
Quoting samirb
Thanks bro..
how you doing?

Do you expecting breakout today to upside.
I gone short and not expecting breakout before NFP

Regards
1-I'm not counter trend only trade with it, so no sell for me.
2-everything is possible but as u said not expected break yesterday high and to know where r we drew fib from yesterday high to low u will see something interesting.
3- E/u above 1.3750 entering hot area of R

4- today close Very important i think it will g/u @ 1.5890 ,1.5825, 1.5795
Catch u later
Trade safe
  • #257,794
  • Oct 1, 2010 5:25am Oct 1, 2010 5:25am
Quoting cloggie
Rumour is that Asian Central Banks are buying dollars to keep their currencies weak and as nobody really wants to hold dollars at this time they are on a buying spree on the crosses.

News is not driving this, nor are the techies, this is rebalancing on a global scale.
Good day, cloggie! I am interested in your position in G/U. Why did you established your horizon till February 28 2011? Thanks for your very useful posts here
  • #257,795
  • Oct 1, 2010 5:25am Oct 1, 2010 5:25am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting ubaidahsan
what is your SL and Tp

Ub

hello bro
sl 15930 tp1 15745

plus dont follow my call .. do your own analysis bro

Good luck
  • #257,796
  • Oct 1, 2010 5:26am Oct 1, 2010 5:26am
Quoting AdrianHNV
I enjoy reading your posts, bbmac, I must confess I don't understand all of it, but I do understand more and more each day. So please keep posting.

We all have our own way of trading, that is one of the 'nice things about forex', there is no set one way which works any better than another But we should all be able to learn from others here......... Even me

Thanx.
----------------------------------------

If daily candle closes above Monday's open it engulfs all of the week's candle bodies (bullish engulf)..will the bulls take encouragement from this ?

4hr closed as a very bullish candle..not quite a thrust candle but very bullish...implyting more upside ?? Speaking of which stops reported above 5875 which if triggered could open upo such upside to yesterday's Hi ??

G/L
ex member
  • #257,797
  • Oct 1, 2010 5:32am Oct 1, 2010 5:32am
Quoting chazzle
Cloggie mentioned before Asia going on a buying spree because they want to weaken their own currencies but don't want to hold dollars at the moment

It is not just Asia flogging the dollar, now Thailand is following Malaysia in buying Chinese treasuries:

http://www.businessweek.com/news/201...hada-says.html

China is opening itself up to the bondmarket. They have sold of over 100Bn of US debt this year and are now buying EU debt, their currency is appreciating vs. the dollar and now they are selling their own treasuries.
  • #257,798
  • Oct 1, 2010 5:32am Oct 1, 2010 5:32am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting Sutts
Doesn't a Gartley need a 61.8 retrace on the AB leg before the CD leg puts in the 78.6?

Do these things still work if the pattern looks roughly right?

Thanks

Good day bro

Different books ,differnt authours have different views and perception on Gartley.

I do take the first swing as B for gartley222.. According to the book.. "Trade what you see" How to Profit From Pattern Recognition by Larry Pesavento.

Good luck with your trades
  • #257,799
  • Oct 1, 2010 5:39am Oct 1, 2010 5:39am
Quoting samirb
hello bro
sl 15930 tp1 15745

plus dont follow my call .. do your own analysis bro

Good luck
sure bro i can see 5760 level to retest before go up and can't follow until i won't sure in my analysis coz you already earn profit and your SL will be from your profit my entry will be fresh so i will do it with my own analysis good luck

Ub
  • #257,800
  • Oct 1, 2010 5:52am Oct 1, 2010 5:52am
GU possibility
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