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Cable Update (GBPUSD)

  • #289,661
  • Sep 28, 2011 3:38am Sep 28, 2011 3:38am
South, here we come
Trader from Croatia
  • #289,662
  • Sep 28, 2011 3:49am Sep 28, 2011 3:49am
Quoting bbakker
Hey BB!

Two lots of three words... practice and time / keep it simple!

Practice makes perfect. There is no substitute for screen time, you have to put the hours in and you will learn because price has a funny way of repeating itself.

These days, I see it, it meets my criteria, I take it. Trading is like driving a car. When you first start out, you have to think about everything... turning the wheel, changing gears, braking, etc, but after many hours of practice it becomes second nature, BUT if you have bad habits, like in driving where you...
100% agree
90% of traders use TA, indicators and prediction
  • #289,663
  • Sep 28, 2011 3:50am Sep 28, 2011 3:50am
It's getting some resistance from DP and fib 23.6, but once it close below, I believe there will be a nice drop till 5560 and further down to 5536 maybe. If it doesn't close below within a couple of hours my target is between yH 5705 and R1 5715. So far rejected, but it'll try again I believe.
  • #289,664
  • Sep 28, 2011 4:17am Sep 28, 2011 4:17am
good morning all
this is my h1 for today.

im still in favour of a move to 5750 at least till 5780 max 5810.
then fast furious crash imo.

lolz
time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 127 KB
90% of traders use TA, indicators and prediction
  • #289,665
  • Sep 28, 2011 4:20am Sep 28, 2011 4:20am
yeh that support from the previous 1hr swing lo/asian lo...2 x fibs - that 23.6% you mention - 5327-5704 and 50% 5525-5704 and of course the daily pivot.

G/L



Quoting spaizkadett
It's getting some resistance from DP and fib 23.6, but once it close below, I believe there will be a nice drop till 5560 and further down to 5536 maybe. If it doesn't close below within a couple of hours my target is between yH 5705 and R1 5715. So far rejected, but it'll try again I believe.
Attached Image
ex member
  • #289,666
  • Sep 28, 2011 4:29am Sep 28, 2011 4:29am
Quoting bbmac
yeh that support from the previous 1hr swing lo/asian lo...2 x fibs - that 23.6% you mention - 5327-5704 and 50% 5525-5704 and of course the daily pivot.

G/L
Pierced through the resistance. Will it close below with conviction? Stay tuned...
  • #289,667
  • Edited 4:41am Sep 28, 2011 4:29am | Edited 4:41am
Quoting _BBKing_
good morning all
this is my h1 for today.

im still in favour of a move to 5750 at least till 5780 max 5810.
then fast furious crash imo.

lolz
time will tell.
maybe but.......great fight near 23.6 fibo
Attached Image (click to enlarge)
Click to Enlarge Name: SIMILAR.png Size: 28 KB
  • #289,668
  • Sep 28, 2011 4:33am Sep 28, 2011 4:33am
Quoting spaizkadett
Pierced through the resistance. Will it close below with conviction? Stay tuned...
Closed below on M30 (Will H1 as well?), I need a confirmation candle to open/close below as well then I believe the drop occurs and I'm going short
  • #289,669
  • Sep 28, 2011 4:53am Sep 28, 2011 4:53am
Been monitoring this chart during Japan and start of UK session and all im gonna say is yuck! Hopefully we see something later.
  • #289,670
  • Sep 28, 2011 5:02am Sep 28, 2011 5:02am
Quoting Nick35
maybe but.......great fight near 23.6 fibo
i think you mean the 5614 line (23% fibo from 5330 to 5700)
did good support till few minutes ago

anyway i notice strong reject near 5600
90% of traders use TA, indicators and prediction
  • #289,671
  • Sep 28, 2011 5:11am Sep 28, 2011 5:11am
Quoting _BBKing_
i think you mean the 5614 line (23% fibo from 5330 to 5700)
did good support till few minutes ago

anyway i notice strong reject near 5600
yes !!!
it seems long again now...
  • #289,672
  • Sep 28, 2011 5:20am Sep 28, 2011 5:20am
took a bounce at the steepest 1hr ascending trend line ! The 1min waqs on it with the bullish divergence play.

G/L
Attached Image (click to enlarge)
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Attached Image
ex member
  • #289,673
  • Sep 28, 2011 5:24am Sep 28, 2011 5:24am
Quoting Nick35
yes !!!
it seems long again now...
90% of traders use TA, indicators and prediction
  • #289,674
  • Sep 28, 2011 5:27am Sep 28, 2011 5:27am
Quoting _BBKing_
out just in time..
never be bullheaded
  • #289,675
  • Sep 28, 2011 5:27am Sep 28, 2011 5:27am
Quoting _BBKing_
anyway i notice strong reject near 5600
Yeah, I never did get a confirmation candle below. Now waiting for my next setup
  • #289,676
  • Sep 28, 2011 5:31am Sep 28, 2011 5:31am
there was also ema60 in m30 chart near 5610.
seems like gu really like that ema!
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90% of traders use TA, indicators and prediction
  • #289,677
  • Sep 28, 2011 5:33am Sep 28, 2011 5:33am
Quoting bbmac
took a bounce at the steepest 1hr ascending trend line ! The 1min waqs on it with the bullish divergence play.

G/L
hello bbmac
sorry maybe i already asked you in the past...
what oscillator are those you use in your fast TF?
90% of traders use TA, indicators and prediction
  • #289,678
  • Sep 28, 2011 5:37am Sep 28, 2011 5:37am
Quoting spaizkadett
Yeah, I never did get a confirmation candle below. Now waiting for my next setup
yes.
about this i must say i learnt in recent trades (few weeks) not to have only 1 plan!
price can go up or down from a certain level, so better be ready both for long and for short.
in 1 trading day we can get both, only 1 or none. depends on our plan!
90% of traders use TA, indicators and prediction
  • #289,679
  • Sep 28, 2011 5:38am Sep 28, 2011 5:38am
Quoting Nick35
out just in time..
never be bullheaded
yes! that would be worst mistake in forex! mostly in this market condition
90% of traders use TA, indicators and prediction
  • #289,680
  • Sep 28, 2011 5:40am Sep 28, 2011 5:40am
Hi BB,

I use the same oscillators on the same settings across all t/f's. They are (from top to bottom

1. Osma (default MT4 charting)
2. Macd (well actually it's a histogram of the macd signal line and is the default 'macd' in MT4 charting)
3. CCi wrapped around a 20 bol

G/L

Quoting _BBKing_
hello bbmac
sorry maybe i already asked you in the past...
what oscillator are those you use in your fast TF?
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