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Cable Update (GBPUSD)

  • #408,801
  • Feb 17, 2015 4:41am Feb 17, 2015 4:41am
Quoting MaryAnne
{quote} Elbert, what EMAs are u using? Care to share? I am trying 50 100 and 200 though some people say 21 is good? Or is that too many EMAs Still trying to figure out how u do that jumping in and out of trades accurately. I basically use S/R
im using 20 50 100 200
  • #408,802
  • Feb 17, 2015 4:41am Feb 17, 2015 4:41am
Quoting elbert3
{quote} just took of the long
Yes but u trade short term so thats logical ..
  • #408,803
  • Feb 17, 2015 4:44am Feb 17, 2015 4:44am
Quoting MaryAnne
{quote} Elbert, what EMAs are u using? Care to share? I am trying 50 100 and 200 though some people say 21 is good? Or is that too many EMAs Still trying to figure out how u do that jumping in and out of trades accurately. I basically use S/R
same as you but with 10 and 20 ..the white is 10, and i think you get a feel of how cable moves,, looking at 379 to see if it goes if not back long, what do you see on the day chart ,??
  • #408,804
  • Feb 17, 2015 4:44am Feb 17, 2015 4:44am
Quoting edyraper
{quote} im using 20 50 100 200

Cool.

Almost the same except I dont have the 20... thinking what others am I missing or supposed to add lol.
  • #408,805
  • Feb 17, 2015 4:48am Feb 17, 2015 4:48am
Quoting Spudforex
{quote} Yes but u trade short term so thats logical ..
you know me S take it as it comes,, lol i think there are mixed tech signs at this time emas up on the day but i dont like the way the day chart looks at this time, you can see spike down on 4 hour ?? on this chart price comes back over my line,, but not yet sure wait till emas come up ,,
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  • #408,806
  • Feb 17, 2015 4:49am Feb 17, 2015 4:49am
Quoting elbert3
{quote} same as you but with 10 and 20 ..the white is 10, and i think you get a feel of how cable moves,, looking at 379 to see if it goes if not back long, what do you see on the day chart ,??

Sweet , I will try those EMAs too and see how it goes. Someone else told me to use EMA 8 (which didnt work for me), another one said EMA 3 lol...

On D1 chart, I do see double bottom in place for now, and GBPUSD rising? Looks like it may actually go to .5520 which is the EMA100 and also near fibo fan 61.8 RT on my chart... yet I find it hard to understand this huge rise given that fundamentals didnt change much. except BOE claiming to hike soon and also acknowledging negative rates possibility.

ps: I may be wrong, but i thought usually price will retest broken trendlines? It did not seem to do it yet on D1 chart approx around .5230
  • #408,807
  • Feb 17, 2015 4:50am Feb 17, 2015 4:50am
Just wait till daily momentum goes to downside, will drop few 100 pips like it's nada.
  • #408,808
  • Feb 17, 2015 4:52am Feb 17, 2015 4:52am
Quoting elbert3
{quote} you know me S take it as it comes,, lol i think there are mixed tech signs at this time emas up on the day but i dont like the way the day chart looks at this time, you can see spike down on 4 hour ?? on this chart price comes back over my line,, but not yet sure wait till emas come up ,, {image}
ah yes but i think ur on more lots than me and a higher rate too so definatley would do the same
money always talks right E.. btw pass those crumpets around next time hey ..
  • #408,809
  • Feb 17, 2015 4:56am Feb 17, 2015 4:56am
Quoting Ck87
Just wait till daily momentum goes to downside, will drop few 100 pips like it's nada.
70 pips ?? lol regards
  • #408,810
  • Feb 17, 2015 5:00am Feb 17, 2015 5:00am
Quoting Ck87
Just wait till daily momentum goes to downside, will drop few 100 pips like it's nada.
well if BOE surprises tomorrow then maybe... else it would be totally data dependent I think
  • #408,811
  • Feb 17, 2015 5:00am Feb 17, 2015 5:00am
Quoting Spudforex
{quote} ah yes but i think ur on more lots than me and a higher rate too so definatley would do the same money always talks right E.. btw pass those crumpets around next time hey ..
crumpets are well gone ,eggs and bacon on the top this morning its a long day,,??or may be a short day,,
  • #408,812
  • Feb 17, 2015 5:07am Feb 17, 2015 5:07am
Quoting elbert3
{quote} 70 pips ?? lol regards
Not concerned at all, trend still intact, expected that move. Could go to 1.56 .. still wouldn't be concerned
  • #408,813
  • Feb 17, 2015 5:09am Feb 17, 2015 5:09am
Quoting elbert3
{quote} crumpets are well gone ,eggs and bacon on the top this morning its a long day,,??or may be a short day,,
funny .. lol
  • #408,814
  • Feb 17, 2015 5:11am Feb 17, 2015 5:11am
Quoting Ck87
{quote} Not concerned at all, trend still intact, expected that move.
i remember last year during Scotland event lol. I panicked when I saw price rising so high to 1.65 relief rally and actually opened long. Then suddenly price down by so much... to .59xx so fast was like wow what the heck... and that was despite good data from UK which market just chose to keep ignoring.

Now we have worse data, but hawkish BOE trying to see if this will change anything in the long run.
  • #408,815
  • Feb 17, 2015 5:11am Feb 17, 2015 5:11am
on the 4H RSI can u guys see something!!!
  • #408,816
  • Feb 17, 2015 5:12am Feb 17, 2015 5:12am
Quoting ibram.forex
on the 4H RSI can u guys see something!!!

RSI 50+ for me...
  • #408,817
  • Feb 17, 2015 5:13am Feb 17, 2015 5:13am
Quoting MaryAnne
{quote} Sweet , I will try those EMAs too and see how it goes. Someone else told me to use EMA 8 (which didnt work for me), another one said EMA 3 lol... On D1 chart, I do see double bottom in place for now, and GBPUSD rising? Looks like it may actually go to .5520 which is the EMA100 and also near fibo fan 61.8 RT on my chart... yet I find it hard to understand this huge rise given that fundamentals didnt change much. except BOE claiming to hike soon and also acknowledging negative rates possibility. ps: I may be wrong, but i thought usually...
every body has to find their own way how to trade,, we are always wrong and always right depending on the trade,??? i get it wrong too so please dont think if i put up a chart that it will be a win some times i jump in and out,, yes it costs money but you have to look at the bigger picture dont be afraid to pull a trade that is lets say £200 down ,, because you will kick yourself when it becomes £400, here now on the 5 min,, this is where traders lose ,you can easily go long here or short to early ,, you can now see why i said 380 before it is now the middle ground ..regards
  • #408,818
  • Feb 17, 2015 5:14am Feb 17, 2015 5:14am
Quoting MaryAnne
{quote} i remember last year during Scotland event lol. I panicked when I saw price rising so high to 1.65 relief rally and actually opened long. Then suddenly price down by so much... to .59xx so fast was like wow what the heck... and that was despite good data from UK which market just chose to keep ignoring. Now we have worse data, but hawkish BOE trying to see if this will change anything in the long run.
Bear markets ignore good news and exaggerate bad news. Patiently waiting for some bad news
  • #408,819
  • Feb 17, 2015 5:16am Feb 17, 2015 5:16am
Quoting Ck87
{quote} Not concerned at all, trend still intact, expected that move. Could go to 1.56 .. still wouldn't be concerned
yes i think if you can get in one can make more that that today up and down,,regards trend possibilities at this time ,
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  • #408,820
  • Feb 17, 2015 5:23am Feb 17, 2015 5:23am
Quoting elbert3
{quote} every body has to find their own way how to trade,, we are always wrong and always right depending on the trade,??? i get it wrong too so please dont think if i put up a chart that it will be a win some times i jump in and out,, yes it costs money but you have to look at the bigger picture dont be afraid to pull a trade that is lets say 200 down ,, because you will kick yourself when it becomes 400, here now on the 5 min,, this is where traders lose ,you can easily go long here or short to early ,, you can now see why i said 380 before it...
thanks Elbert for the words of wisdom. I am still trying to figure out how to upload screenshots so that it looks like yours... my previous attempts came out as links instead =/ and yes, there is indeed a battle going on at this current level around .5380 stoch, volume suggests (in lower TF) that a down should follow soon.

I am trying to upload but it just comes out weird.

http://i.gyazo.com/f4e69dca10a8bbd729c4ed8a27d4b69d.pnghttp://gyazo.com/f4e69dca10a8bbd729c4ed8a27d4b69d">​
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