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Cable Update (GBPUSD)

  • #271,121
  • Feb 7, 2011 7:01am Feb 7, 2011 7:01am
Quoting callmegood
WengOn how's your 10k friend doing?

As for trendline.. Trust your eyes and try to pull a line that connects at least 2 tops/bottoms. For starters, to convince yourself that these lines MAY work, do so on m15/m30 TFs, and see for yourself that they are 'respected' (i.e. At least u shd see signs of hesitation when price gets near the trendline).

Edit: Oops I didnt notice rbb replied anyway, was curious abt ur fren.
Due respect ...a Senior member on this thread ,TauTrader would say that any trend line should clearly connect at least 3 preferably 4 HL,HH,LL or LH and that they apply to all TF. Confidence building is well achieved by "travelling" these lines down through the TF from monthly to M5. I've found it to be a geat method of learning to see PA...of how the patterns of the higher time frames are repeated through to the lower.
All systems of divination, like music itself,work through patterns.
  • #271,122
  • Feb 7, 2011 7:03am Feb 7, 2011 7:03am
Quoting Astroman
Can not expect the price to hit the very exact number. 5--10 away? Close enough for me.
Lucky boy..
All systems of divination, like music itself,work through patterns.
  • #271,123
  • Feb 7, 2011 7:13am Feb 7, 2011 7:13am
i'm not so much as scalping this channel 16094/ 16122 as DP is in the middle. have set alerts above and below, one has just gone but am still looking for a clear break .
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (07-FEB-11).png Size: 10 KB
All systems of divination, like music itself,work through patterns.
  • #271,124
  • Feb 7, 2011 7:26am Feb 7, 2011 7:26am
Long 16132...above 200ema
All systems of divination, like music itself,work through patterns.
  • #271,125
  • Feb 7, 2011 7:28am Feb 7, 2011 7:28am
Quoting redbeben

the fall is imminent I just hope for the pullback ...not sure anymore if it will hit the 1.6145 but will still go up a bit to give me some pips.
already out manually as it seems to fail going longer than 1.6137....if it goes it will hit the R line 1.6158....let's say 1.6150

damn this one nearly gave me a heart attack for some 32 pips
damn again it was so slow
  • #271,126
  • Feb 7, 2011 7:31am Feb 7, 2011 7:31am
Quoting kaspopsicle
Due respect ...a Senior member on this thread ,TauTrader would say that any trend line should clearly connect at least 3 preferably 4 HL,HH,LL or LH and that they apply to all TF. Confidence building is well achieved by "travelling" these lines down through the TF from monthly to M5. I've found it to be a geat method of learning to see PA...of how the patterns of the higher time frames are repeated through to the lower.

Do u have an good example of HL, HH, LL, LH, Low=L; High=H
and how trendline should be placed... Pls Assist.
  • #271,127
  • Feb 7, 2011 7:35am Feb 7, 2011 7:35am
Quoting redbeben
already out manually as it seems to fail going longer than 1.6137....if it goes it will hit the R line 1.6158....let's say 1.6150

damn this one nearly gave me a heart attack for some 32 pips
damn again it was so slow

Well, Do u feel FRESH AIR after closing...
sorry for scaring u just now...APOLOGY.
  • #271,128
  • Feb 7, 2011 7:36am Feb 7, 2011 7:36am
Quoting kaspopsicle
Long 16132...above 200ema
Out 16145.
All systems of divination, like music itself,work through patterns.
  • #271,129
  • Feb 7, 2011 7:41am Feb 7, 2011 7:41am
Quoting kaspopsicle
Long 16132...above 200ema
Pls.. What is EMA 200?
what is EMA 200 for, different between EMA n SMA, any 1 can at least teach me in an easier way, layman term.
English is my THIRD language, forgive me if somehow i used improper ENGLISH, i hope i didnt.
  • #271,130
  • Feb 7, 2011 7:41am Feb 7, 2011 7:41am
Quoting WengOn
Do u have an good example of HL, HH, LL, LH, Low=L; High=H
and how trendline should be placed... Pls Assist.
www.babypips.com also look through the thread menu on FF i've seen a thread there called "how to draw trend lines properly." possibly under Trading Discussions.
G/L
All systems of divination, like music itself,work through patterns.
  • #271,131
  • Feb 7, 2011 7:42am Feb 7, 2011 7:42am
Quoting WengOn
Pls.. What is EMA 200?
what is EMA 200 for, different between EMA n SMA, any 1 can at least teach me in an easier way, layman term.
English is my THIRD language, forgive me if somehow i used improper ENGLISH, i hope i didnt.
EMA200 is a common trendindicator. exponential moving average with tick 200.
Hero calls followed by margin calls...
  • #271,132
  • Feb 7, 2011 7:42am Feb 7, 2011 7:42am
Quoting kaspopsicle
Out 16145.

good call USD much stronger than GBP

I don't think will go up especially that we will have the cross on H1
  • #271,133
  • Feb 7, 2011 7:44am Feb 7, 2011 7:44am
Quoting WengOn
Pls.. What is EMA 200?
what is EMA 200 for, different between EMA n SMA, any 1 can at least teach me in an easier way, layman term.
English is my THIRD language, forgive me if somehow i used improper ENGLISH, i hope i didnt.
EMA = exponential moving average
SMA = simple moving average.

Try babypips.com
All systems of divination, like music itself,work through patterns.
  • #271,134
  • Feb 7, 2011 7:45am Feb 7, 2011 7:45am
Quoting WengOn
Well, Do u feel FRESH AIR after closing...
sorry for scaring u just now...APOLOGY.
)

it was just a short one but veeery long in time.
now I am cool as I still have some shorts to close
  • #271,135
  • Feb 7, 2011 7:45am Feb 7, 2011 7:45am
Quoting redbeben
good call USD much stronger than GBP

I don't think will go up especially that we will have the cross on H1
Are we telepathic?
All systems of divination, like music itself,work through patterns.
  • #271,136
  • Feb 7, 2011 7:46am Feb 7, 2011 7:46am
Quoting redbeben
already out manually as it seems to fail going longer than 1.6137....if it goes it will hit the R line 1.6158....let's say 1.6150

damn this one nearly gave me a heart attack for some 32 pips
damn again it was so slow

9:30pm
CAD Building Permits m/m 2.4% 2.9% -10.5%http://www.forexfactory.com/images/m...us_revised.gif

i think GU refuse to go up mainly due to this, check out the USDCAN market,
i was wanted to do break out entry, was too busy replying post.
  • #271,137
  • Feb 7, 2011 7:46am Feb 7, 2011 7:46am
smokescreens!
  • #271,138
  • Feb 7, 2011 9:20am Feb 7, 2011 9:20am
Trying a long here with RR 1:1.5
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  • #271,139
  • Feb 7, 2011 10:17am Feb 7, 2011 10:17am
Quoting chazzle
Trying a long here with RR 1:1.5
Hi Chazzle,
I suggest that you stay patient and wait for 1.6064 to 1.6000 region to go long.
Just my opinion.
  • #271,140
  • Feb 7, 2011 10:28am Feb 7, 2011 10:28am
Quoting forexcompoun
Hi Chazzle,
I suggest that you stay patient and wait for 1.6064 to 1.6000 region to go long.
Just my opinion.
I hear you ... PA a bit wacky at the moment - I don't think I'll be giving this such a wide stop as I first planned ... fight between 16100 and 16125 ... M15 close< 16100 and I'll be looking to exit
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