the dp usually gets tested once before close. My D1 still has 5 hours to go before closing.
...so do you think 1.5860 might get tested today...it is 100++ pips away...from where price are rite now?
Cable Update (GBPUSD)
- #260,581
- Oct 14, 2010 11:03am Oct 14, 2010 11:03am
- | Joined Jul 2009 | Status: ˙˙˙˙ʇɥƃıɐɹʇs ʞlɐʇ ɹǝʌǝu ı | 439 Posts
...so do you think 1.5860 might get tested today...it is 100++ pips away...from where price are rite now?
- #260,583
- Oct 14, 2010 11:20am Oct 14, 2010 11:20am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #260,584
- Oct 14, 2010 11:23am Oct 14, 2010 11:23am
- | Joined Jul 2009 | Status: ˙˙˙˙ʇɥƃıɐɹʇs ʞlɐʇ ɹǝʌǝu ı | 439 Posts
most people make trading too hard. the truth is that trading can be so simple if you master waves.. its so easy. its better trading on higher time frames. it makes a lot of pips too. I trade with only one indi and use the rest for analysis. trading is so easy when you can define your stop losses and master wave trading.. here is an example.
never like the waves though....never like ralph nelson elliott (no offence guys) he's making counting waves a hard time for me....but like his teacher "Leonardo Pisano Bigollo" like counting rabbits and leaves rather than waves, don't like to be drown! - #260,585
- Oct 14, 2010 11:35am Oct 14, 2010 11:35am
- Joined Mar 2006 | Status: Chase that Dollar .. | 1,416 Posts
- #260,586
- Oct 14, 2010 12:00pm Oct 14, 2010 12:00pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
I'm with Wormboy on this one, although to get to 1.56 we will need to eat through some demand zones to get there!
- #260,589
- Oct 14, 2010 12:09pm Oct 14, 2010 12:09pm
most people make trading too hard. the truth is that trading can be so simple if you master waves.. its so easy. its better trading on higher time frames. it makes a lot of pips too. I trade with only one indi and use the rest for analysis. trading is so easy when you can define your stop losses and master wave trading.. here is an example.
Attachment
Attachment
- #260,590
- Oct 14, 2010 12:50pm Oct 14, 2010 12:50pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
give us this mq4 indicator
This of course before he shorted EU yesterday about this time....
So, moments later, and after it takes of like a friggen rocket...he now has another indicator.
Flounder.
this is what i see .....Long Term
Cable DOWN
eurchf down ... just sold
eurjpy buy
dragon UP
gbpchf Down
eurusd down .... just sold
usdchf down
euraud down
eurcad down
audusd???
eurgbp???
I trade all pairs at once.. Hope i get out of this with my shirt..
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #260,591
- Oct 14, 2010 1:17pm Oct 14, 2010 1:17pm
Attachment
I'm with Wormboy on this one, although to get to 1.56 we will need to eat through some demand zones to get there!
1.5971 have been though so far, but haven`t been to much volum either!
What are your target points, and in which timeframe do you expect to reach them?
- #260,592
- Oct 14, 2010 1:28pm Oct 14, 2010 1:28pm
- | Joined Sep 2010 | Status: Use Yours :) | 397 Posts
Evening All I'm back after a nasty sting from shorting last night.....after looking back over my trade everything was telling me to go long, what a fool!
I am happy to except the worst traders award for yesterday if there is one.
Lesson Learned
I am happy to except the worst traders award for yesterday if there is one.
Lesson Learned
Enter Signature
- #260,593
- Oct 14, 2010 1:43pm Oct 14, 2010 1:43pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Evening All I'm back after a nasty sting from shorting last night.....after looking back over my trade everything was telling me to go long, what a fool!
I am happy to except the worst traders award for yesterday if there is one.
Lesson Learned
My recipe don't hurry to correct it
Don't be a hero. Don't have an ego. Always question yourself
- #260,595
- Oct 14, 2010 1:56pm Oct 14, 2010 1:56pm
- | Joined Jun 2007 | Status: Still Learning :) | 1,203 Posts
- #260,596
- Oct 14, 2010 2:02pm Oct 14, 2010 2:02pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Nice chart
1.5971 have been though so far, but haven`t been to much volum either!
What are your target points, and in which timeframe do you expect to reach them?
My short targets are always above the demand zones and vice versa for longs. I also try to look for confluences in both entries and exits, but I will still take it based on demand and supply. It just means less odds enhancers.
Today's entry was based on the weekly high -
On the daily you can see a nice drop - rally to 1.6066 - drop (Feb 2010)
We are making higher highs and higher lows, so I consider this to be a retracement trade hence my final target and I will be looking for a long in this area, if we even get there.
For me this is now a free trade with a small profit. I generally work of the h4 and higher timeframes for my swing trades and sometimes go down to h1 to better define my zones.
Looking at the weekly chart, I think the 1.6290-1.6464 will be a good supply zone for a swing trade possibly back down to 1.5. Keep an eye on DIX to ensure we also hit a demand area that will take GU and EU back down. It also has a trendline confluence in this area. We might not reach this supply area or I have tightened it up too much and 1.6260 might be a nice entry looking at the daily with a SL around 1.6295 + spread. (~35 pips)
Net dollar shorts are extremely high and we will be running out of sellers soon. This could occur from the ~75.50-75.71 demand zone which also has a trendline confluence which Magix has drawn on his DIX chart or even lower at ~74.20-74.59 (Dec 09 lows)
After the US mid-term elections and with the Fed making their QE decision at the beginning of November, these events could be the catalyst, but hey... who knows what is going to happen, because anything can happen!
- #260,598
- Oct 14, 2010 2:13pm Oct 14, 2010 2:13pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
I could see it hitting 1.583 if not tomorrow then early next week.
This room is becoming worse by the day. No more analysis backed up by charts... just shouting numbers out seems to be the order of the day.
My farewell clock is ticking...
- #260,599
- Oct 14, 2010 2:24pm Oct 14, 2010 2:24pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
In your magic crystal ball or through your non-existant chart that backs up your analysis...
This room is becoming worse by the day. No more analysis backed up by charts... just shouting numbers out seems to be the order of the day.
My farewell clock is ticking...
by 2015 we will see cable = $3 no chart no shittt
for now lets enjoy the ride between WH3 AND WL3 AND THE BREAK above or below
