i will hold longs until is a buy pattern.
period.
Come with me if you want to live....
Cable Update (GBPUSD)
- #299,621
- Feb 1, 2012 4:54am Feb 1, 2012 4:54am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
- #299,622
- Feb 1, 2012 4:56am Feb 1, 2012 4:56am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
With you big fella, loving patience right now... but scalping is great fun, I will experiment with this on the way up also
because they allow 4...
Come with me if you want to live....
- #299,623
- Feb 1, 2012 5:07am Feb 1, 2012 5:07am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
With you big fella, loving patience right now... but scalping is great fun, I will experiment with this on the way up also
this is what im looking in my screen
my stops are below whole this bull area.
maybe today won't go far from this 5750.
lets see
90% of traders use TA, indicators and prediction
- #299,624
- Feb 1, 2012 5:26am Feb 1, 2012 5:26am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #299,625
- Feb 1, 2012 5:40am Feb 1, 2012 5:40am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
Don't let the door hit you on the butt on the way out USD
90% of traders use TA, indicators and prediction
- #299,626
- Feb 1, 2012 5:41am Feb 1, 2012 5:41am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction
- #299,628
- Feb 1, 2012 5:44am Feb 1, 2012 5:44am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #299,629
- Feb 1, 2012 5:50am Feb 1, 2012 5:50am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
is there some one else here near 5780 - 5800? 
90% of traders use TA, indicators and prediction
- #299,630
- Feb 1, 2012 5:55am Feb 1, 2012 5:55am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Monthly.
January painted a bullish, not quite engulfing, bar in a 3 year pennant which, if it was on the hourly chart, I would be waiting for a break out before trading.
But it's the monthly and we just want to guess a general direction, or bias, so that weekly and daily time frames make sense when they begin to show higher highs and higher lows or vice versa.
The second half of January gave us 11 out of 13 bullish bars and so we are probably overdue for some sort of retracement. We are now approaching 1.58 and strong resistance as posed by the grey boxes on the chart - within the highs of 2009 and 2011.
I would look to a reversal around 1.58 (lots of confluence - fibs and fib expansion) and retracement to the 38.2% fib retracement(61.8 if you like your fibs upside down) at 1.56. A bullish daily close above 1.56 would then set us on the merry road up again.
Good luck with your trading and thank you for reading.
January painted a bullish, not quite engulfing, bar in a 3 year pennant which, if it was on the hourly chart, I would be waiting for a break out before trading.
But it's the monthly and we just want to guess a general direction, or bias, so that weekly and daily time frames make sense when they begin to show higher highs and higher lows or vice versa.
The second half of January gave us 11 out of 13 bullish bars and so we are probably overdue for some sort of retracement. We are now approaching 1.58 and strong resistance as posed by the grey boxes on the chart - within the highs of 2009 and 2011.
I would look to a reversal around 1.58 (lots of confluence - fibs and fib expansion) and retracement to the 38.2% fib retracement(61.8 if you like your fibs upside down) at 1.56. A bullish daily close above 1.56 would then set us on the merry road up again.
Good luck with your trading and thank you for reading.
Gone to a better place
- #299,631
- Feb 1, 2012 6:03am Feb 1, 2012 6:03am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #299,632
- Feb 1, 2012 6:03am Feb 1, 2012 6:03am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
Monthly.
January painted a bullish, not quite engulfing, bar in a 3 year pennant which, if it was on the hourly chart, I would be waiting for a break out before trading.
But it's the monthly and we just want to guess a general direction, or bias, so that weekly and daily time frames make sense when they begin to show higher highs and higher lows or vice versa.
The second half of January gave us 11 out of 13 bullish bars and so we are probably overdue for some sort of retracement. We are now approaching 1.58 and strong resistance as posed by...
morning,
i agree most part of this, nearly the same at what im looking at.
im only doubting about a reversal here.
ok 5800 is strong level as you also point out but price is not reversing.
at least not for the moment.
it is simply building levels in hourly charts.
to retrace need to breake out of uptrend channel in hourly.
possible but i will short only if that will happen, to target something around 55 56.
i could be too much biased but imo a retrace will happen near 1.59-1.60
time will tell, lets see this weekly what will say about
90% of traders use TA, indicators and prediction
Currently holding shorts at 1.57, just added another short position at 1.5780.... im wondering why people are so dollar bearish when the fact is that the media is just hyping things up in Europe and Terrible news in UK are ignored... guys dont be fooled... yesterday's super move was simply big boys taking profits or balancing books...
For me, i'm still dollar bullish REGARDLESS if ben wants to print money or not... the situation in Europe is way dire than US printing money... besides good news on US part today with Treasury attempting to...
It is true that UK is not exactly booming but not in the situation like PIIGS countries or eurozone either. The economy contracted by a measly 0.2% last quarter (incidentally the unusual mild weather contributed to it - less winter fuel purchases etc). However, the PMI index published today is better than expected.
Comparatively speaking, UK is in a far better state than most of its neigbours in western europe.
As for dollar bearishness, it had had a strong bull run and it is taking a breather now that is all (I do not subscribe to the view of dollar demise).
G/L
- #299,635
- Feb 1, 2012 6:33am Feb 1, 2012 6:33am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
is there some one else here near 5780 - 5800?
ok they listened to me this time!
90% of traders use TA, indicators and prediction
- #299,639
- Feb 1, 2012 6:57am Feb 1, 2012 6:57am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction