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Cable Update (GBPUSD)

  • #258,841
  • Oct 6, 2010 4:19am Oct 6, 2010 4:19am
Quoting Delite
Yes, but she isn't in any hurry to move one way of the other. This is my problem - I want to see things heading my way, quickly!
would be nice to see a bit more upward momentum soon but things may flatten out prior to ADP figures, that should start some fireworks one way or the other
  • #258,842
  • Oct 6, 2010 4:24am Oct 6, 2010 4:24am
Quoting bbmac
would be interested to hear other's view of this...lets say you draw a fib of an upswing from for the sake of an argument an obvious swing lo - hi 5100-5200, ie a 100 pip swing to keep the maths easy and price pulls back off the 5200 swing hi to lower than the 76.4% fib of the 5100-5200 move, but then reverses back long again and takes out the 5200 hi....question is this, would you consider the fib drawn from the 5100 swing lo to the new hi above 5200 to be still a valid plot of a fib even though it went below the 76.4% fib or would you now only...
I should have known better than to ask for views on the above, after all it is sensible point about a tech aspect of trading...either no one has a view or can't be bothered to share it...if you want meaningless/low quality analysis/late calls or boasts about past performance this is the place...but try to prompt discussion on anything sensible and the resounding answer is silence...

I am out of here.

G/L
ex member
  • #258,843
  • Oct 6, 2010 4:32am Oct 6, 2010 4:32am
Quoting bbmac
I should have known better than to ask for views on the above ... the resounding answer is silence...

G/L
Geez spit the dummy much??! Dont know about everyone else but I was too focussed on trading to try to decipher the question let alone think about it for an answer!
  • #258,844
  • Oct 6, 2010 4:33am Oct 6, 2010 4:33am
Quoting Jazznos
...which is where my long entry is...

Very wise! I closed my long for a loss. Pah!
  • #258,845
  • Oct 6, 2010 4:35am Oct 6, 2010 4:35am
Haha not so wise mate, hit SL for -20

Was in the middle of trying to move SL down a bit more below swing resitance but it was too late!
  • #258,846
  • Oct 6, 2010 4:35am Oct 6, 2010 4:35am
Quoting bbmac
I should have known better than to ask for views on the above, after all it is sensible point about a tech aspect of trading...either no one has a view or can't be bothered to share it...if you want meaningless/low quality analysis/late calls or boasts about past performance this is the place...but try to prompt discussion on anything sensible and the resounding answer is silence...

I am out of here.

G/L
Unfortunately I have no view, this is due to not having any real idea on how to use fibs properly etc etc... If you want a complete newb response then I'll post one for you a little later... Though more then likely it will fall into the meaningless/low quality analysis category.. lol
  • #258,847
  • Oct 6, 2010 4:36am Oct 6, 2010 4:36am
Quoting bbmac
would be interested to hear other's view of this...lets say you draw a fib of an upswing from for the sake of an argument an obvious swing lo - hi 5100-5200, ie a 100 pip swing to keep the maths easy and price pulls back off the 5200 swing hi to lower than the 76.4% fib of the 5100-5200 move, but then reverses back long again and takes out the 5200 hi....question is this, would you consider the fib drawn from the 5100 swing lo to the new hi above 5200 to be still a valid plot of a fib even though it went below the 76.4% fib or would...
Me sir me i wanna answer this sir Back to the school LOL
well....
Depends on my TF if that daily and Daily candle closed i will redrew fib from 51 to new high , as long as the daily still go on won't redrew fib.

This is my own way and hope that could help.
  • #258,848
  • Oct 6, 2010 4:40am Oct 6, 2010 4:40am
Quoting bbmac
I should have known better than to ask for views on the above, after all it is sensible point about a tech aspect of trading...either no one has a view or can't be bothered to share it...if you want meaningless/low quality analysis/late calls or boasts about past performance this is the place...but try to prompt discussion on anything sensible and the resounding answer is silence...

I am out of here.

G/L
I am new to trading so not qualified to answer....just yet

Your quality analysis is good so please stick around
Enter Signature
  • #258,849
  • Oct 6, 2010 4:41am Oct 6, 2010 4:41am
Quoting bbmac
I should have known better than to ask for views on the above, after all it is sensible point about a tech aspect of trading...either no one has a view or can't be bothered to share it...if you want meaningless/low quality analysis/late calls or boasts about past performance this is the place...but try to prompt discussion on anything sensible and the resounding answer is silence...

I am out of here.

G/L
Hey bbmac... lol... you're not wrong there!

I am not a big user of fibs, but will use them for confluence.

Now, my answer would be that you use the newer high. Alternatively you could keep the exisitng lo/hi and use the fibs expansion to determine where the new high might be set. I try to avoid using fibs on the lower timeframes and use them on my higher timeframes for confluence. I hope this answers your question, but again for me, fibs are subjective, as people will choose different lows and highs!

Good luck with your trading!
  • #258,850
  • Oct 6, 2010 4:41am Oct 6, 2010 4:41am
So there you have your answer BB. For me I got in late so I will see if I understand your question first before I try to answer
Quoting egkid
Me sir me i wanna answer this sir Back to the school LOL
well....
Depends on my TF if that daily and Daily candle closed i will redrew fib from 51 to new high , as long as the daily still go on won't redrew fib.

This is my own way and hope that could help.
  • #258,851
  • Oct 6, 2010 4:45am Oct 6, 2010 4:45am
Quoting Jazznos
Geez spit the dummy much??! Dont know about everyone else but I was too focussed on trading to try to decipher the question let alone think about it for an answer!
Quoting Jazznos
Haha not so wise mate, hit SL for -20

Was in the middle of trying to move SL down a bit more below swing resitance but it was too late!
The question was not that hard and didn't require any deciphering. Maybe you should try to focus on learning how to trade and all the technicals involved before you focus on your trading, by the looks of it... lol
  • #258,852
  • Oct 6, 2010 4:48am Oct 6, 2010 4:48am
Quoting bbmac
would be interested to hear other's view of this...lets say you draw a fib of an upswing from for the sake of an argument an obvious swing lo - hi 5100-5200, ie a 100 pip swing to keep the maths easy and price pulls back off the 5200 swing hi to lower than the 76.4% fib of the 5100-5200 move, but then reverses back long again and takes out the 5200 hi....question is this, would you consider the fib drawn from the 5100 swing lo to the new hi above 5200 to be still a valid plot of a fib even though it went below the 76.4% fib or would you now only...
Haven't done fibs in a while, so I'm not going to venture what to do next. A few points, though:

Since 51-2 are 00 prices, they'd likely be effective anywhere, so they're not the problem.
I don't get why 76.4% is so important. 61.8%, which is "lower than the 76.4% fib", may be more relevant if that's where price went.
  • #258,853
  • Oct 6, 2010 4:48am Oct 6, 2010 4:48am
on sky news there was an alert on some bomb or something ..might have caused a few issues for us
  • #258,854
  • Oct 6, 2010 4:52am Oct 6, 2010 4:52am
Come on go to 1.60
Inserted Video
  • #258,855
  • Oct 6, 2010 4:54am Oct 6, 2010 4:54am
Quoting bbmac
I should have known better than to ask for views on the above, after all it is sensible point about a tech aspect of trading...either no one has a view or can't be bothered to share it...if you want meaningless/low quality analysis/late calls or boasts about past performance this is the place...but try to prompt discussion on anything sensible and the resounding answer is silence...

I am out of here.

G/L

Take it easy bro, busy trading.

I'll move my fib to accommodate the new high.
  • #258,856
  • Oct 6, 2010 4:55am Oct 6, 2010 4:55am
Quoting egkid
Come on go to 1.60
http://www.youtube.com/watch?v=OaiSHcHM0PA
dont worry..1.60 is just the start me thinks..expect it to go a bit higher as stops are triggered..that wont be buyers but stop triggered..so nobody be fooled

expect it to test 1.6 and base ..only then enter a long if it holds.. there likely will be a fake to the downside to produce the PA..I PROBABLY WILL HEDGE THERE to catch some of it..on the downside, assuming it goes there ofcourse
  • #258,857
  • Oct 6, 2010 4:56am Oct 6, 2010 4:56am
Does anybody know metatrader and be willling to help me with code an EA?
  • #258,858
  • Oct 6, 2010 4:56am Oct 6, 2010 4:56am
Morning all,

Having made money overnight, I started my day by foolishly clicking on close and taking a 676.20 loss on EUR/USD.

This is the problem with one click trading!!!!!
Dan TheMan
  • #258,859
  • Oct 6, 2010 4:58am Oct 6, 2010 4:58am
http://www.dowjoneswebservices.com/w...RichMedia/4688
Join My Signal On Telegram at @forextradingforlivingsignal
  • #258,860
  • Oct 6, 2010 4:59am Oct 6, 2010 4:59am
Quoting nAVIN2007
dont worry..1.60 is just the start me thinks..expect it to go a bit higher as stops are triggered..that wont be buyers but stop triggered..so nobody be fooled

expect it to test 1.6 and base ..only then enter a long if it holds.. there likely will be a fake to the downside to produce the PA..I PROBABLY WILL HEDGE THERE to catch some of it..on the downside
From a fundamental aspect with the threat of QE2 by BoE, it might struggle to get beyond 1.60, but then again the Fed are thinking the same, so that cancels each other out, hence the current ranging with a slight push up to 1.60. We can only wait for the event to occur before we see some real action on this pair. Tomorrow will be an interesting day!
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