Im thinking of a long at the 38.2 fibo from 15986 to 16252 at around 16160. Thoughts?
Cable Update (GBPUSD)
- #272,522
- Feb 21, 2011 8:44pm Feb 21, 2011 8:44pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
- #272,523
- Feb 21, 2011 8:56pm Feb 21, 2011 8:56pm
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
I have got 4 shorts between 16167 and 16220.
price bounced directly off the monthly trendline which starts at 17040. I could see a major reversal off these highs. I do not see price getting above 16300 here.
After persuing a view posts here, I am comforted by the fact that so many here in the forum don't agree with me.
I could see 44 hours of consolidation before NFP but when it happens is somewhat irrelevant. That is the beauty of swing trading.
Cheerio
Time to make some real money. Sub 1.50 here I come....
"Timing Is Everything. Really I Swear It Is"
- #272,525
- Feb 21, 2011 8:59pm Feb 21, 2011 8:59pm
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
I will be the number one Manager.
- #272,526
- Feb 21, 2011 9:28pm Feb 21, 2011 9:28pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,046 Posts
prepare to buy at new candle (in 2 minute again) SL as far as you can..
- #272,528
- Edited 10:58pm Feb 21, 2011 9:49pm | Edited 10:58pm
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
lol, java you may want to hold off and save your money at least till a little buying comes in besides stops getting wiped out . Every session other than new york started out selling from the get go , today has been no different . Zoomed out 5 min chart showing the patterns, we are at the weekly pivot atm , so may bounce a little but wouldnt bet on it . Good trading all. Attachment
good luck to you dig..,
ps: been waiting you, i want to ask something, but you seldom to come to this thread again..,
I will be the number one Manager.
- #272,529
- Feb 21, 2011 10:56pm Feb 21, 2011 10:56pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Psssssttt..... 
Target DOWN @ 1.6154 was Finished.
Posted in #272275 Feb 18, 2011 12:49am
Target DOWN @ 1.6154 was Finished.
Posted in #272275 Feb 18, 2011 12:49am
Bro manize,
First Target UP was Finished. And DOUBLE TOP. I'm not Sure still Bullish.
Take a Look in H1 - Harmonic Pattern... and Watch at Point W1 Res C
Always looking the GREAT, never left GOOD Point...
- #272,537
- Feb 22, 2011 12:56am Feb 22, 2011 12:56am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #272,538
- Feb 22, 2011 1:32am Feb 22, 2011 1:32am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #272,539
- Feb 22, 2011 2:03am Feb 22, 2011 2:03am
Laugh and the world laughs with you ! Cheers !
- #272,540
- Edited 2:26am Feb 22, 2011 2:14am | Edited 2:26am
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
I have got 4 shorts between 16167 and 16220.
price bounced directly off the monthly trendline which starts at 17040. I could see a major reversal off these highs. I do not see price getting above 16300 here.
After persuing a view posts here, I am comforted by the fact that so many here in the forum don't agree with me.
I could see 44 hours of consolidation before NFP but when it happens is somewhat irrelevant. That is the beauty of swing trading.
Cheerio
Time to make some real money. Sub 1.50 here I come....
swing trading but imply otherwise with these fixed positions you've
entered nearly 3 weeks ago. So far you're near 90 pips on your
way in 20 days with those 4 shorts from 1.6220 (posted on 2/02).
In the meantime since Feb. 2, a short from the same area of
1.6220 reached a bottom at 1.5961 (259 pips) on 2/11 and then
it swung back to a high at 1.6261 (300 pips) on 2/18. And now
were back down another ~130 pips. That's 689+ pips for the
offering in three straight-line trades. Well, of course no one can
consistently anticipate direction that well nor captures 100% of
the moves, 100% of the time. Then again, sitting fixed on a position
for three weeks is hardly an efficient trading method to promote.
I would hope that better than 15% achievement was reached by a
diligent qualified swing trader with each of these straight-line moves.
Between now and 1.5000 or 1.7000 (~1000+ pip destinations) which
ever should come first, there will likely be an accumulative offering
of ~~10,000 pips in all available convoluted movements in price action
for those who trade in small to medium TFs.
Just my view. Good luck with yours.
Dr. D.