Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#379,541
May 28, 2014 10:27am May 28, 2014 10:27am

Carlicus
| Joined Jan 2014 | Status: Trader | 358 Posts

Quoting elbert3

Disliked

{quote} {image} could of been worth it 100 sma just on the 61 fib line,, ???

Ignored

Yes, definitely could have been worth it but remember that bulls go upstairs and bears go out through the window. When cable falls hard, I'd better not counter trend it, since I've been fooled many times haha

#379,542
May 28, 2014 10:29am May 28, 2014 10:29am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

GBPUSD30-May-2014 Bought 1.670591.67062 15 USD 150.00

#379,543
May 28, 2014 10:30am May 28, 2014 10:30am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting Carlicus

Disliked

{quote} Yes, definitely could have been worth it but remember that bulls go upstairs and bears go out through the window. When cable falls hard, I'd better not counter trend it, since I've been fooled many times haha

Ignored

lol i just posted long , lets see

#379,544
Edited 11:04am May 28, 2014 10:36am | Edited 11:04am

fontu
Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts

So another crush & 6731 broken . next target bear goes 6659 as last leg up from , others 6555& 6465 though but 6659 important & below 6465 there will less chance it goes over the top easily without finish the corrections. so watching to join again somewhere in the train to get some in any direction . previous analysis of much slower movements till broken 6659 & 6465, again to top before the correction even with weekly bear candles & strong crushes repeatedly!!
Monthly tf if there occurs a bear ,may close at or around next target 6659 but still few day in doing so do & so monthly can turmoils before any crush straight !
Anyway eu was much clear & gold next ok for targets down .so play carefully before the 1st target of bear not broken .
fontu

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Not understand?better not follow my analyses!doubt clearer first, risks ++

#379,545
May 28, 2014 11:09am May 28, 2014 11:09am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Support found on the Daily 100sma which held beginning of Feb and at the end March both times sending sterling back up. Bulls, let's see the color of your money!

#379,546
May 28, 2014 11:17am May 28, 2014 11:17am

Trader88q
| Joined May 2012 | Status: Trader | 1,292 Posts

Quoting cat

Disliked

Support found on the Daily 100sma which held beginning of Feb and at the end March both times sending sterling back up. Bulls, let's see the color of your money!

Ignored

EMAs usually work less than fibonachi lines. Of cause u can use it as a tool if it works for you, but in my opion fibo works much better than EMAs and RSI. And as a tool somebody is considering channels as workable indicators. Channels is something that always smiles me

So draw fibo from 7000 to 6730 and u will see that fibo 1.38% is a 6630 its a first target point.

If in the next 3-5 days it will not hit 6630 and will hit only 1.23% fibo then another wave up to 7050 i would say may rocket again.

#379,547
May 28, 2014 11:26am May 28, 2014 11:26am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting Trader88q

Disliked

{quote} EMAs usually work less than fibonachi lines. Of cause u can use it as a tool if it works for you, but in my opion fibo works much better than EMAs and RSI. And as a tool somebody is considering channels as workable indicators. Channels is something that always smiles me So draw fibo from 7000 to 6730 and u will see that fibo 1.38% is a 6630 its a first target point. If in the next 3-5 days it will not hit 6630 and will hit only 1.23% fibo then another wave up to 7050 i would say may rocket again.

Ignored

I use both, but don't bother with RSI, MACD much better. No indicator works in isolation, but in combination along with pa, but hey, if it gives you an edge, then it doesn't matter what the hell it is does it.

#379,548
May 28, 2014 11:38am May 28, 2014 11:38am

Lamira
Joined Jan 2014 | Status: candlesticks talks to me | 930 Posts

Quoting elbert3

Disliked

{quote} sorry guys for the posting if your losing but somebody pissed me of

Ignored

i guess i like it when you pissed off

keep going buddy

#379,549
May 28, 2014 11:50am May 28, 2014 11:50am

albchr
Joined Mar 2009 | Status: Trader | 25,480 Posts

Quoting cat

Disliked

Support found on the Daily 100sma which held beginning of Feb and at the end March both times sending sterling back up. Bulls, let's see the color of your money!

Ignored

Not comparing, just sharing views here.

I rely heavily on ma's (I use the 100ema) as pause/bounce points for taking profit points or when scalping, for reverse entry/exit purposes. I never rely on them to "hold" price though. For that I like fibs (perfect hit and bounce at 1.13 here) and just good old horizontal SR lines better.

Aside from some small bounces, I'd be surprised to see this not hit at least 6667 (thick blue line) before any serious retrace and or resumption of bull trend if that's to happen at all. Next we have the 127.2 at 6658 and then 6650 (dashed line) weekly close SR. So, just a bit to get through to continue south with some good hiccups along the way. I'll be watching lower TF PA at these levels for possible long plays on any retraces or trend resumption we may get.

Daily Chart.

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Ghost Rider - WWTBMD?

#379,550
May 28, 2014 12:05pm May 28, 2014 12:05pm

PoundTrader
Joined Sep 2010 | Status: Life Time Member | 6,685 Posts

Quoting Carlicus

Disliked

I've chickened out and closed all my short positions. My best results this month so far +33% Lucky me! I wish every month I could do that haha

Ignored

#379,551
May 28, 2014 12:11pm May 28, 2014 12:11pm

santuary123
| Joined Aug 2013 | Status: Trader | 199 Posts

Quoting santuary123

Disliked

I missed today party in GU.. my limit didn't hit I set limit at red zone.. {image} If this zone can't hold GU it will fall to blue zone This techs for 1 week.. {image}

Ignored

Hmm already hit blue zone.. Hmm..
Limit sell at 6830 not hit.. Just limit at ucad hit my limit buy..

I think red zone is better place for bounce up

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#379,552
May 28, 2014 12:20pm May 28, 2014 12:20pm

Kofmaster
| Joined Oct 2008 | Status: Crocodile Trader | 1,127 Posts

So many supports has broken with being tested.. A healthy drop shouldn't be like this..Is everyone bear?

Then I should start being bulls in view.

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Read the entire market, money is made on the main trend not the fluctuation

#379,553
May 28, 2014 12:21pm May 28, 2014 12:21pm

Carlicus
| Joined Jan 2014 | Status: Trader | 358 Posts

Quoting PoundTrader

Disliked

{quote}

Ignored

Thanks

#379,554
May 28, 2014 12:26pm May 28, 2014 12:26pm

santuary123
| Joined Aug 2013 | Status: Trader | 199 Posts

Quoting Kofmaster

Disliked

So many supports has broken with being tested.. A healthy drop shouldn't be like this..Is everyone bear? Then I should start being bulls in view. {image} {image}

Ignored

I'm better wait and see.. dont want say will be bull or bear..

I will see in red zone for try long GU..

#379,555
Edited 12:48pm May 28, 2014 12:34pm | Edited 12:48pm

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting Trader88q

Disliked

{quote} EMAs usually work less than fibonachi lines. Of cause u can use it as a tool if it works for you, but in my opion fibo works much better than EMAs and RSI. And as a tool somebody is considering channels as workable indicators. Channels is something that always smiles me So draw fibo from 7000 to 6730 and u will see that fibo 1.38% is a 6630 its a first target point. If in the next 3-5 days it will not hit 6630 and will hit only 1.23% fibo then another wave up to 7050 i would say may rocket again....

Ignored

Ignorance is costly in this business

Richard Donchian
One of my favorite all time traders.Developed and used channels and later was called Donchian Channel.
He is the father of trend following and inspiration of Turtle trading system.
http://turtletrader.com/trader-donchian/
http://en.wikipedia.org/wiki/Donchian_channel

In trading, you have to be defensive and aggressive at the same time

#379,556
May 28, 2014 12:56pm May 28, 2014 12:56pm

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Just want to say knowing history of the occupation helps give perspective what is transpiring now.
If one wants to be an artist education in Art history is a must.
Chess player? Must know all historical popular openings plus study profiles and games of Gasparov,Petrosian,Karpov just some examples
This is immensely educational.In trading it gives understanding that what you can't trade someone made millions.
For Example some consider Marty Schwartz best all time trader ever.He is well documented and took 50k to 600k in 1year and never looked back
Guess what he used MA's mostly fast ones.
Not saying MA's is the answer but dismissing it is ignorance.I used 20MA on my Bollinger Bands as part of my system but discretion is always there.
And should add I love RSI set it to 8 on daily chart and discover whole new postures.

In trading, you have to be defensive and aggressive at the same time

#379,557
May 28, 2014 1:02pm May 28, 2014 1:02pm

santuary123
| Joined Aug 2013 | Status: Trader | 199 Posts

Quoting Davit

Disliked

Just want to say knowing history of the occupation helps give perspective what is transpiring now. If one wants to be an artist education in Art history is a must. Chess player? Must know all historical popular openings plus study profiles and games of Gasparov,Petrosian,Karpov just some examples This is immensely educational.In trading it gives understanding that what you can't trade someone made millions. For Example some consider Marty Schwartz best all time trader ever.He is well documented and took 50k to 600k in 1year and never looked back...

Ignored

Good knowledge for me davit

Btw, i like you trading style

#379,558
May 28, 2014 1:06pm May 28, 2014 1:06pm

albchr
Joined Mar 2009 | Status: Trader | 25,480 Posts

Quoting Davit

Disliked

{quote} Ignorance is costly in this business Richard Donchian One of my favorite all time traders.Developed and used channels and later was called Donchian Channel. He is the father of trend following and inspiration of Turtle trading system. http://turtletrader.com/trader-donchian/ http://en.wikipedia.org/wiki/Donchian_channel

Ignored

Quoting Davit

Disliked

Just want to say knowing history of the occupation helps give perspective what is transpiring now. If one wants to be an artist education in Art history is a must. Chess player? Must know all historical popular openings plus study profiles and games of Gasparov,Petrosian,Karpov just some examples This is immensely educational.In trading it gives understanding that what you can't trade someone made millions. For Example some consider Marty Schwartz best all time trader ever.He is well documented and took 50k to 600k in 1year and never looked back...

Ignored