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Cable Update (GBPUSD)

  • #286,981
  • Aug 20, 2011 7:42am Aug 20, 2011 7:42am
ok time for relax again....
beach is waiting
90% of traders use TA, indicators and prediction
  • #286,982
  • Aug 20, 2011 9:42am Aug 20, 2011 9:42am
Quoting Flatfish
Still looking at the 4 hr char.................
could you please tell something more about those dotted lines seen in your chart? where do they come from? are fibo channels?
90% of traders use TA, indicators and prediction
  • #286,983
  • Aug 20, 2011 9:45am Aug 20, 2011 9:45am
Quoting _BBKing_
i remember you sayin some days ago if price again near upperd band h4, time for short as band would be horizontal!

interesting
i agree on re paint of bands, not helpful in faster TF
h4 looks like best for that indie
They really are quite simple to use- probably why most traders ignore them. But in terms of identifying possible areas where you can expect to find high r/r trades they are about a leading an indicator that I have found.
  • #286,984
  • Aug 20, 2011 10:00am Aug 20, 2011 10:00am
Quoting _BBKing_
could you please tell something more about those dotted lines seen in your chart? where do they come from? are fibo channels?
Yep its one of the ZUP indicators. I just use the zig- zag that Plots fib channels. I know some people use it to automatically identify Gartley patterns. I use use it again areas to identify s/r, looking for trades to move from one level to the other. Part of the idea of having a target and sound technical reason for entering a trade.
  • #286,985
  • Aug 20, 2011 11:20am Aug 20, 2011 11:20am
http://lcchong.files.wordpress.com/2...ng?w=877&h=397

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
  • #286,986
  • Aug 20, 2011 12:23pm Aug 20, 2011 12:23pm
Quoting Flatfish
Yep its one of the ZUP indicators. I just use the zig- zag that Plots fib channels. I know some people use it to automatically identify Gartley patterns. I use use it again areas to identify s/r, looking for trades to move from one level to the other. Part of the idea of having a target and sound technical reason for entering a trade.
ok tks
i was and i still am searchin something about be more confident in h4 to define a large move from a res (uptrend) or from a sup (downtrend) and else to define targets.
bands sounds good. i also noticed these days something about ema.
price rarely goes far more than 250-280 pips from its ema60 in h4. that area (250-280 pips) corresponds to bands!

day by day, evrey day something more to improve our trading
90% of traders use TA, indicators and prediction
  • #286,987
  • Aug 20, 2011 2:36pm Aug 20, 2011 2:36pm
Hello guys i am a newbie in spot fx just signed up here..there is a pinbar on gbp/usd daily chart as per my study if a trend is about to end a pinbar forms..there was a uptrend on b4 this pinbar..does that mean a downtrend will follow soon???

Do reply guys..
GBP/USD
  • #286,988
  • Aug 20, 2011 7:09pm Aug 20, 2011 7:09pm
Quoting nAVIN2007
she breaking wind...god damn
you told it before!
i was lucky enough to close my long there above, did expect a drop but not such a BIG one, wow! she's always good for small surprises.

Quoting iqyu5an
...thank God i still can keep my 485.1 pip this week ( 11 win and 2 loss ) in safe place from my enemy...
great consistent trading week after week, congrats

Quoting Flatfish
Still looking at the 4 hr chart you can see how cable has performed technically perfect in respect of the Bollinger bands.
yes! recalled your post from Thursday evening while i've been closing a long trade.. i don't use much indis but dropped the bollies onto my 4hr chart as they really seem to be a valuable confirmation. thanks!

Quoting Flatfish
You only have to look at an intraday cable chart for Friday to see how much madness we spend looking at on the short timeframes, while the old boys sit and read the newspaper..
Agree 100%! ..and thx for your other valuable contributions.

Quoting _BBKing_
i also see a possible move to / near / into 6220 - 6250 area.
see chart below.
would not be the 1st time we see such a strong move up followed by same strong move down.....
Cheers agree with more downside but not so deep.

I'll be watching 6409 (6390-6425 zone) for possible bounce and another strong leg up first.. maybe i'll buy all the way down to 6300 (there's a fresh 'virgin' demand zone). I guess the Friday afternoon drop was mainly due to profit taking.. a lot of longs closed ahead of April highs but that doesn't mean anything for GBP or USD weakness or strength. Yes, last two daily candles print a very bearish picture but i expect a ranging period now ..the range can be wide (6400-6640ish), until the Jackson Hole thing tells us if they'll print again or not.. or whatever sh*t they spill out, it will give the next direction.. i'll post a chart tomorrow.
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  • #286,989
  • Edited 7:49pm Aug 20, 2011 7:37pm | Edited 7:49pm
Quoting _BBKing_
ok tks
i was and i still am searchin something about be more confident in h4 to define a large move from a res (uptrend) or from a sup (downtrend) and else to define targets.
bands sounds good. i also noticed these days something about ema.
price rarely goes far more than 250-280 pips from its ema60 in h4. that area (250-280 pips) corresponds to bands!

day by day, evrey day something more to improve our trading
There is another indicator that is better (in my opinion) than bollinger band. Try the 'envelop' indicator with 60 period, Exponential MA and 1.6% deviation. It is less 'noisier' than BB. Let me know how it works out for you.
  • #286,990
  • Aug 20, 2011 11:55pm Aug 20, 2011 11:55pm
.
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not euphoria follower
  • #286,991
  • Aug 21, 2011 5:09am Aug 21, 2011 5:09am
Not sure how markets will react to developments in Libiya this weekend, and we still have stock markets looking very ugly. Would expect support around 1.6350 to hold at least on first test as I would expect the first approach to 1.66 will be sold. Those would be the points I'd be most happy entering around. Chart tells me price may swing around 1.65 initially, so I am not expecting any great trading opp until London, but can see that session being choppy too. So for me cable waiting game. But GBP/CHF does look like there is a real chance of a decent short, and fading a rally in that would provide a nice entry into a very long term trend, but I wouldn't chase it from here as I have to use a stop much larger than I'd like.
  • #286,992
  • Aug 21, 2011 6:34am Aug 21, 2011 6:34am
GBP CHF for sure got awesome downside potential, with a clean reversal @ MP confirmed with 2 H4 long wicked candles and TL break I'd say 2700 will be reached very soon and then 2nd target of 2400 prolly sometime this or next week.

http://img43.imageshack.us/img43/560...h421082011.png
  • #286,993
  • Aug 21, 2011 7:17am Aug 21, 2011 7:17am
GBP CAD looks solid as well, just check out H4 long wicked candles.
  • #286,994
  • Aug 21, 2011 7:24am Aug 21, 2011 7:24am
Quoting delorean
There is another indicator that is better (in my opinion) than bollinger band. Try the 'envelop' indicator with 60 period, Exponential MA and 1.6% deviation. It is less 'noisier' than BB. Let me know how it works out for you.
hello,
you mean this setup?
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90% of traders use TA, indicators and prediction
  • #286,995
  • Aug 21, 2011 8:37am Aug 21, 2011 8:37am
Quoting _BBKing_
hello,
you mean this setup?

hey buddy..i use the same one
  • #286,996
  • Aug 21, 2011 9:13am Aug 21, 2011 9:13am
.....
daily dream?
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Attached Image
90% of traders use TA, indicators and prediction
  • #286,997
  • Aug 21, 2011 11:47am Aug 21, 2011 11:47am
Quoting iqyu5an
For FF, especially for this forum.

Even this Friday is my bad day ( The enemy change my leverage ...wider spread bla bla bla...and bla ... like or dislike i have to close all of my position ( which is still negative ) ), but thank God i still can keep my 485.1 pip this week ( 11 win and 2 loss ) in safe place from my enemy and thank also for all discussion, sharing etc etc...that we made.

Happy Weekend

Rgds, Iqyu

Really nice work this week bro. Grats.
  • #286,998
  • Aug 21, 2011 4:33pm Aug 21, 2011 4:33pm
I took a short position, at 1.6465.
my sl at 1.6550
tp at 1.6350
any1 care to comment....
http://www.forexfactory.com/attachme...2&d=1313962154
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  • #286,999
  • Aug 21, 2011 4:40pm Aug 21, 2011 4:40pm
Hello all. For beginning this week, long GBP/USD 1.6470, TP 1.6688 (maybe 1.6610 in a first time).
For indicators, momentum and breakout are UP for next hours.
Trend for 2 monthes is UP.

Good trades and have a good week guys.
  • #287,000
  • Aug 21, 2011 5:22pm Aug 21, 2011 5:22pm
but i am sure u have something in your Arsenal not just speculation i learnt the hard harsh way i don't want u too walk that path please don't be itchy fingers wait it out market ain't over yet there always a trade good luck

Quoting iamnew
I took a short position, at 1.6465.
my sl at 1.6550
tp at 1.6350
any1 care to comment....
http://www.forexfactory.com/attachme...2&d=1313962154
We cannot direct the winds but we can adjust our sail.
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