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Cable Update (GBPUSD)

  • #260,081
  • Oct 12, 2010 11:15am Oct 12, 2010 11:15am
Quoting pres78
What happens at that time?
Intel reports quarterly earnings. The banks begin reporting tomorrow starting off with JP Morgan before mkt opens. Mkt could go crazy.
  • #260,082
  • Oct 12, 2010 11:17am Oct 12, 2010 11:17am
will it go up till 1.5880
  • #260,083
  • Oct 12, 2010 11:17am Oct 12, 2010 11:17am
Quoting PipChick
Intel reports quarterly earnings. The banks begin reporting tomorrow starting off with JP Morgan before mkt opens. Mkt could go crazy.
Right I read about that somewhere... thanks for the heads up.
Today's zone = Tomorrow's opportunity!
  • #260,084
  • Oct 12, 2010 11:18am Oct 12, 2010 11:18am
Quoting pres78
Right I read about that somewhere... thanks for the heads up.
No problem
  • #260,085
  • Oct 12, 2010 11:25am Oct 12, 2010 11:25am
can u smell the bulls ???
  • #260,086
  • Oct 12, 2010 11:29am Oct 12, 2010 11:29am
Quoting raasmasud
can u smell the bulls ???

No
I need to finish something i started
  • #260,087
  • Oct 12, 2010 11:33am Oct 12, 2010 11:33am
Quoting PipChick
First target met, 5758. That dished out some nice pippies. Now lets see if the AB=CD pattern will complete at "D"...5731. A lot of times, the FE 78.6 is as far as she gets before a retracement.
Another nice call PipChick!
  • #260,088
  • Oct 12, 2010 11:36am Oct 12, 2010 11:36am
Quoting chazzle
signing off - leaving trades open as quite low risk
GL everyone
Went in also at 15770 closed all for BE cos I'm at work and I can't be bothered to keep looking at my phone
  • #260,089
  • Oct 12, 2010 12:30pm Oct 12, 2010 12:30pm
Quoting AllyB
Another nice call PipChick!
TY
  • #260,090
  • Oct 12, 2010 12:49pm Oct 12, 2010 12:49pm
Good day to you all,

Hope you are doing well. some levels to watch. These are marked on the chart.

1) 1.5834 - this is the line between bulls and bears running back 2 weeks. There is no doubt that we are in bearish territory at present, as we are trading below last week's decision line, this week's decision line as well as today's decision line. One can not consider longer term long positions if below 1.5834.

2) 1.5798 - this is last week's opening price. Currently offering resistance. We will probably close today in this area.

3) 1.5748 - the low of last week. Price turned back from this area today. This may be a temporary support number for any move lower.

4) 1.5715 - the monthly opening price - should offer significant support and a decision area for continuation or retracement.

5) 1.5879 - todays open - scalps can be considered between 1.5834 and 1.5879 in both directions, depending on Price action - but this is chop-chop area.

6) 1.5955 - long term bullish trade only possible above this level. As long as this forms resistance, we remain neutral bearish.

The second chart just showing a major trendline broken today. This line follows the weekly bottom and daily bottom.

Hope this assists.

Trade well!

Regards
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  • #260,091
  • Oct 12, 2010 1:57pm Oct 12, 2010 1:57pm
just went short
  • #260,092
  • Oct 12, 2010 1:59pm Oct 12, 2010 1:59pm
Quoting alex1976
just went short
Rollover in a couple minutes, why not save a little and wait until after?

The difference of a couple minutes can make a huge difference on both direction and fees.

Just a thought for ya....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,093
  • Oct 12, 2010 2:02pm Oct 12, 2010 2:02pm
Watching for short area on chart....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,094
  • Oct 12, 2010 2:03pm Oct 12, 2010 2:03pm
Quoting Magix
Rollover in a couple minutes, why not save a little and wait until after?

The difference of a couple minutes can make a huge difference on both direction and fees.

Just a thought for ya....

Hi Magix, what do you mean rollover?

Pardon me for my ignorance.
  • #260,095
  • Oct 12, 2010 2:13pm Oct 12, 2010 2:13pm
Quoting alex1976
Hi Magix, what do you mean rollover?

Pardon me for my ignorance.
Unless you have your account set 1:1, no margin, you are charged an interest rate based on your borrowing of money from your broker to enter into your trade. This happens at 5:00 pm EST...a few short minutes ago.

So, even though you just entered into a trade, 2 mins before rollover, you are still dinged the fees.

Same carries for weekends as well, carry a trade into the weekend and you get charged rollover fees.

IF you are trading through an MT4 platform, you can see the fees in the swap column below.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,096
  • Oct 12, 2010 2:16pm Oct 12, 2010 2:16pm
Quoting Magix
Unless you have your account set 1:1, no margin, you are charged an interest rate based on your borrowing of money from your broker to enter into your trade. This happens at 5:00 pm EST...a few short minutes ago.

So, even though you just entered into a trade, 2 mins before rollover, you are still dinged the fees.

Same carries for weekends as well, carry a trade into the weekend and you get charged rollover fees.

IF you are trading through an MT4 platform, you can see the fees in the swap column below.

So its best to take trade after 5 pm est then?
  • #260,097
  • Oct 12, 2010 2:23pm Oct 12, 2010 2:23pm
Quoting alex1976
So its best to take trade after 5 pm est then?
Wait 1m after and you won't get charged the rate....if your scalping and not in swings, why not save the cash?

I would say that for anybody that has too much money, and don't mind the swap rate, wait this extra minute and send me a check daily instead of your broker.

I will at least thank you for your contribution.



Not picking on you Alex, was just trying to throw you a bit o info.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,098
  • Oct 12, 2010 2:25pm Oct 12, 2010 2:25pm
Quoting Magix
Wait 1m after and you won't get charged the rate....if your scalping and not in swings, why not save the cash.

I would say that for anybody that has to much money, and don't mind the swap rate, wait this extra minute and send me a check daily instead of your broker.

I will at least thank you for your contribution.



Not picking on you Alex, was just trying to throw you a bit o info.

good stuff magix man!


also do you like the 200 ema better on 1hr or 15 min?
  • #260,099
  • Oct 12, 2010 2:29pm Oct 12, 2010 2:29pm
Quoting Magix
Unless you have your account set 1:1, no margin, you are charged an interest rate based on your borrowing of money from your broker to enter into your trade. This happens at 5:00 pm EST...a few short minutes ago.

So, even though you just entered into a trade, 2 mins before rollover, you are still dinged the fees.

Same carries for weekends as well, carry a trade into the weekend and you get charged rollover fees.

IF you are trading through an MT4 platform, you can see the fees in the swap column below.
What do you think about shorting the pound.. it is screaming and yelling for shorts
  • #260,100
  • Oct 12, 2010 2:30pm Oct 12, 2010 2:30pm
Quoting alex1976
good stuff magix man!


also do you like the 200 ema better on 1hr or 15 min?
All TFS....

Throw you a couple charts below, check out their respective time frames, see where my targets are.

Typically the 1m and the 5m are your money lines, as they are the 2 that will be challenged for support or resistance daily, but is also important to watch them on all TFs to see targets...

I took the long on EU last night at it's hourly 200...still holding.

The Yellow line is the 200EMA. The white line is the support/resistance from the previous TF or following, IE, on EJ, M15 chart, yellow line is 200EMA M15, White line is 200EMA M5, on my 1m charts when scalping, I will have the 200EMA yellow on 1m and will have the 5m 200EMA in white.....
These are the 4 pairs I trade daily.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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