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Cable Update (GBPUSD)

  • #273,361
  • Mar 2, 2011 7:49am Mar 2, 2011 7:49am
Quoting wormboy
it's not gonna stop @6350 bro. just buy the damn thing
Hey Azim!

I must say, you're very adamant on your stance that this baby is going to burst through the 6350 level. Don't get me wrong, it is not often that you get it wrong and we are in an uptrend so the odds are not in favour of the bears, but please enlighten me as to why this is going north? DIX? Economic data? Cable chart?

What is your timeframe.... by the end of this week and if so what is your target?

B
  • #273,362
  • Mar 2, 2011 7:49am Mar 2, 2011 7:49am
Quoting wormboy
just buy now, price is only 50 pips above the W1 pivot support
im lookin closely on 1m
70 pips stop loss too much here
90% of traders use TA, indicators and prediction
  • #273,363
  • Mar 2, 2011 8:04am Mar 2, 2011 8:04am
here are some other reasons of the reversal in 6269
i did not check this chart... thats why i did not long n waitin 6260 support!
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.jpg Size: 217 KB
90% of traders use TA, indicators and prediction
  • #273,364
  • Mar 2, 2011 8:08am Mar 2, 2011 8:08am
Quoting _BBKing_
im lookin closely on 1m
70 pips stop loss too much here
Hi _BBKing,

Don't Forget RULES Fibonacci Calc :nerd:

Price @ 1.6262 H1 Support as FIBO 23.6%
Price @ 1.6245 H4 Support as FIBO 38.2%
Price @ 1.6197 Daily Pivot as FIBO 50.0%
Price @ 1.6139 Weekly Pivot as FIBO 78 %

MISS my Post, in #273202 Mar 1, 2011 5:45pm

Quoting Tsar
Cable Overbought Now...

Still TRY Broke H1 Support Price @ 1.6262
If Can Broke... We will see in H4 Support Price @ 1.6245
Price @ 1.6197 as Daily Pivot for PullBack
( or LOWER Price @ 1.6139 as Weekly Pivot for PullBack - But I'm NOT sure will Touch in Here )

Price @ 1.6357 as Down Retrace but still posible go UP again.
Price @ 1.6602 as Criticcal Point for Reversal.
Always looking the GREAT, never left GOOD Point...
  • #273,365
  • Mar 2, 2011 8:21am Mar 2, 2011 8:21am
Quoting bbakker
Hey Azim!

I must say, you're very adamant on your stance that this baby is going to burst through the 6350 level. Don't get me wrong, it is not often that you get it wrong and we are in an uptrend so the odds are not in favour of the bears, but please enlighten me as to why this is going north? DIX? Economic data? Cable chart?

What is your timeframe.... by the end of this week and if so what is your target?

B
hi brian how are you?

The target I'm looking at is 1.642.
I posted the D1 yesterday showing that price had broken up & stayed above the tough weekly pivot resistance. I find no reason to be bearish when price had just taken out a level which it had failed to do during the whole month of February.
The timeframe involved is the d1 & the w1

Below are the charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud.gif Size: 25 KB
Click to Enlarge Name: gud1.gif Size: 23 KB
Thank You
  • #273,366
  • Mar 2, 2011 8:22am Mar 2, 2011 8:22am
Quoting Tsar
Hi _BBKing,

Don't Forget RULES Fibonacci Calc :nerd:

Price @ 1.6262 H1 Support as FIBO 23.6%
Price @ 1.6245 H4 Support as FIBO 38.2%
Price @ 1.6197 Daily Pivot as FIBO 50.0%
Price @ 1.6139 Weekly Pivot as FIBO 78 %

MISS my Post, in #273202 Mar 1, 2011 5:45pm
yeah i missed your post!
anyway i use a lot fibos as you can see in my chart.
the matter is that i use 1chart for scalpin mode n the other for main study.
today the main study chart was behind

now i printed it and keep it in front of me!
90% of traders use TA, indicators and prediction
  • #273,367
  • Mar 2, 2011 8:24am Mar 2, 2011 8:24am
And the gbplfx is also above the weekly & monthly pvp.
I have no reason to look for sells atm, won't waste my time
Attached Image (click to enlarge)
Click to Enlarge Name: gx.gif Size: 20 KB
Thank You
  • #273,368
  • Mar 2, 2011 8:41am Mar 2, 2011 8:41am
Quoting _BBKing_
yeah i missed your post!
anyway i use a lot fibos as you can see in my chart.
the matter is that i use 1chart for scalpin mode n the other for main study.
today the main study chart was behind

now i printed it and keep it in front of me!
Take it m-Candles Indies for SCALP in Lower TF ( below H1 )
You can found in my Post #273220 Mar 1, 2011 8:54pm

This Indie Workwell
Always looking the GREAT, never left GOOD Point...
  • #273,369
  • Mar 2, 2011 8:46am Mar 2, 2011 8:46am
Update H1 CHART...

Still SAME my Prediction Yesterday
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-03-02_FIBO H1.jpg Size: 133 KB
Always looking the GREAT, never left GOOD Point...
  • #273,370
  • Mar 2, 2011 9:00am Mar 2, 2011 9:00am
Quoting Tsar
Take it m-Candles Indies for SCALP in Lower TF ( below H1 )
You can found in my Post #273220 Mar 1, 2011 8:54pm

This Indie Workwell
ok i downloaded n installed.
happy to see on the meanwhile i did this... my gbp long @ 6298 doing good

how does that mcandles runs? buy in green area n short in red area or am i missing something? :nerd:
90% of traders use TA, indicators and prediction
  • #273,371
  • Mar 2, 2011 9:01am Mar 2, 2011 9:01am
Quoting wormboy
just buy now, price is only 50 pips above the W1 pivot support
picked a small long position 6297 target open at moment n will stop < 6260

90% of traders use TA, indicators and prediction
  • #273,372
  • Mar 2, 2011 9:05am Mar 2, 2011 9:05am
U lazy just stay in bed u lazy just stay in bed
U want no money u don't want no bread
If u drowning u don't cluch no straw
If u drowning u don't cluch no straw
U don't want to live don't want to cry no more
  • #273,373
  • Mar 2, 2011 9:05am Mar 2, 2011 9:05am
both eur usd n gbp usd breaking the channel.
us dollar weak!

90% of traders use TA, indicators and prediction
  • #273,374
  • Mar 2, 2011 9:13am Mar 2, 2011 9:13am
Quoting _BBKing_
picked a small long position 6297 target open at moment n will stop < 6260

did the right thing. well done my friend.
Thank You
  • #273,375
  • Mar 2, 2011 9:16am Mar 2, 2011 9:16am
Quoting wormboy
did the right thing. well done my friend.
yeah!
its since 2-3 weeks all my longs are profits n all shorts are shity losses or stops @BE or few profits!!!
90% of traders use TA, indicators and prediction
  • #273,376
  • Mar 2, 2011 9:18am Mar 2, 2011 9:18am
Great call Wormie,
seems like we would end 9pips shy of your 6350 target but GREAT GREAT call bro.
Now the bears have come in.
Nice bearish butterfly also spotted on 5min tf.
Happy trading on the short side of the cable!
Meshach
  • #273,377
  • Mar 2, 2011 9:23am Mar 2, 2011 9:23am
Quoting redbeben
EU USD fell some 100 pips yesterday
GJ 20 pips away from my TP
I still wait for the GU to go down

Up can be achieved to at least 1.633
done next target for the longs 1.636 later
retrace still to come
daily Stochs overbought and the dollar will be the king of the prom

I still have my 1.61,1.60 shorts open
  • #273,378
  • Mar 2, 2011 9:23am Mar 2, 2011 9:23am
Quoting _BBKing_
yeah!
its since 2-3 weeks all my longs are profits n all shorts are shity losses or stops @BE or few profits!!!

reason for that is the strong uptrend on the htf, so naturally buying is always the easier trade.
Here's a friendly advise, the next time you want to scalp the M1 or M5, scalp in the direction of the htf & ignore the retrace. Less hair pulling & more profit.
Thank You
  • #273,379
  • Mar 2, 2011 9:25am Mar 2, 2011 9:25am
Quoting forexcompoun
Great call Wormie,
seems like we would end 9pips shy of your 6350 target but GREAT GREAT call bro.
Now the bears have come in.
Nice bearish butterfly also spotted on 5min tf.
Happy trading on the short side of the cable!
Meshach
the butterfly does not work all the times don't follow only this indie.combine in with another analyse like RSI and stochs.

yesterday for example the charts were full of butterflies on all the TFS but still the price went up

but it's nice to have a piece of nature on the screens
  • #273,380
  • Mar 2, 2011 9:27am Mar 2, 2011 9:27am
Quoting forexcompoun
Great call Wormie,
seems like we would end 9pips shy of your 6350 target but GREAT GREAT call bro.
Now the bears have come in.
Nice bearish butterfly also spotted on 5min tf.
Happy trading on the short side of the cable!
Meshach
Cheers my friend, i was just lucky.

I see no bears yet, just some sharks
Good luck with your trading!
Thank You
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