Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#336,821
Mar 12, 2013 7:31am Mar 12, 2013 7:31am

100PipsADay
| Commercial User | Joined May 2012 | 3,285 Posts

Quoting kamifx

Disliked

There are some info by Software how can we learn about how to trade according to this software as U said! referring your posts in another thread some time is ok and sometimes!!!!!!!!?

Ignored

Strategy Overview:
I use a Trend Strategy which uses a part of the "Third Screen Strategy" of Dr. Alexander Elder. First, I find in a D1 chart the global trend using the MACD indicator. Once the overall trend is clear, I use the H1 time frame to act in the same trend using the Williams Percentage Indicator. When the positions are opened I manage economic news and fundamental analysis to close the position if I think the trend is about to reverse on the D1 chart.

Read more about the Third Screen Strategy here: http://www.forexfactory.com/showthread.php?t=382032

**This is a trend strategy so you want to find a pair that is trending. This is why it tends to work well with JPY cross pairs as well as GBP/AUD, EUR/AUD, and GBP/USD.

#336,822
Mar 12, 2013 7:54am Mar 12, 2013 7:54am

feather
| Joined Dec 2012 | Status: Trader | 223 Posts

Bad announcement and strong move back up. It will be interesting the next few days, lets see if this creates some buying interest and a decent retrace or the same old same old.

#336,823
Mar 12, 2013 7:56am Mar 12, 2013 7:56am

Maso
| Joined Feb 2013 | Status: Trader | 907 Posts

Be cautious guys! This evening we will have GDP estimate. How if it falls sharply!!!

Quoting feather

Disliked

Bad announcement and strong move back up. It will be interesting the next few days, lets see if this creates some buying interest and a decent retrace or the same old same old.

Ignored

#336,824
Mar 12, 2013 8:04am Mar 12, 2013 8:04am

acidburn123
| Joined Feb 2009 | Status: Trader | 407 Posts

Quoting Maso

Disliked

Be cautious guys! This evening we will have GDP estimate. How if it falls sharply!!!

Ignored

small birds whisper that things are improving ... and also if you read the correct lines on the manufacturing report things are not that bad and actually did improve in some parts over from last year ... just my 2 cents.

ps. V shaped recoveries do happen for a reason

#336,825
Mar 12, 2013 8:18am Mar 12, 2013 8:18am

ogy
| Joined Mar 2013 | Status: Trader | 8 Posts

Any preriction on where its heading? Its starting to retrace back down. Correct me if im wrong

#336,826
Mar 12, 2013 8:27am Mar 12, 2013 8:27am

feather
| Joined Dec 2012 | Status: Trader | 223 Posts

Quoting ogy

Disliked

Any preriction on where its heading? Its starting to retrace back down. Correct me if im wrong

Ignored

I am aiming for 250 pips from today's low as a target. The pound is due for a decent retrace, price action might be choppy along the way. Don't rely on my opinion though you should be confident in your own strategy, if your not then don't trade.

#336,827
Mar 12, 2013 8:31am Mar 12, 2013 8:31am

acidburn123
| Joined Feb 2009 | Status: Trader | 407 Posts

Quoting ogy

Disliked

Any preriction on where its heading? Its starting to retrace back down. Correct me if im wrong

Ignored

in the minute you start asking people their opinion you should be asking your self why you took the trades and based on what.

There is no magic crystal ball and no one can tell you where this is heading in the next X time frame.

When GBP was dumped everyone was screaming how much lower it will go , and here we are at the nip area again ...

#336,828
Mar 12, 2013 8:50am Mar 12, 2013 8:50am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

H1

Going for a long here sl 820 tp 960

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#336,829
Mar 12, 2013 9:01am Mar 12, 2013 9:01am

Maso
| Joined Feb 2013 | Status: Trader | 907 Posts

For me, the end of this bearish is at least 1.4380.

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Quoting chazzle

Disliked

H1

Going for a long here sl 820 tp 960

Ignored

#336,830
Mar 12, 2013 9:07am Mar 12, 2013 9:07am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting Maso

Disliked

For me, the end of this bearish is at least 1.4380.

Ignored

Have 1.44 as a level also on a longer term view

http://www.forexfactory.com/showthre...41#post6486941

#336,831
Mar 12, 2013 9:18am Mar 12, 2013 9:18am

100PipsADay
| Commercial User | Joined May 2012 | 3,285 Posts

Quoting chazzle

Disliked

Have 1.44 as a level also on a longer term view

http://www.forexfactory.com/showthre...41#post6486941

Ignored

I also see 1.44 as next significant support area.

#336,832
Mar 12, 2013 11:45am Mar 12, 2013 11:45am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting chazzle

Disliked

H1

Going for a long here sl 820 tp 960

Ignored

tightened the sl by 50% to 845

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#336,833
Mar 12, 2013 12:09pm Mar 12, 2013 12:09pm

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting chazzle

Disliked

tightened the sl by 50% to 845

Ignored

take partial profit here to pay for the sl - it's now a risk free trade

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#336,834
Mar 12, 2013 12:14pm Mar 12, 2013 12:14pm

Fx-gtg
| Joined Dec 2011 | Status: Trader | 947 Posts

i need 1.51

#336,835
Mar 12, 2013 12:33pm Mar 12, 2013 12:33pm

Thfc
| Joined Oct 2012 | Status: Trader | 38 Posts

Quoting Fx-gtg

Disliked

i need 1.51

Ignored

My gut feel is we will probably get a good retrace back to around 1.4965 - 1.4995 but I don't see any extension beyond that. 1.50 is now a long term psychological barrier if you ask me. OMO though.

#336,836
Mar 12, 2013 12:46pm Mar 12, 2013 12:46pm