I use 6 charts when I trade and drawing the fibs on each chart. What I do is the monthly chart, I take last months candle and put the fibs on from high to low on that candle alone. Translate that to the daily chart. The weekly goes to the 4 hour, ...

Cable Update (GBPUSD)

Put your fibs on the candles. You will see that everyday usually it retraces up to the 61.8, 50, 38.2 or 0 fib lines. Right now as we speak, it is on the 50 fib line a very excellent spot to continue moving downwards. When it does it may move with ...

Cable Update (GBPUSD)

There may not be much movement from now except for the bulls rebounding a little bit. It stopped on the 161.8 fib line which is a major bouncing point. If it breaks here it will go down a ton to the 261 fib line but I don't see that happening ...

Cable Update (GBPUSD)

Look at your daily chart candles. It has been going sideways. Each high is lower than the previous days. The lows are lower but not by much. We have 4 doji's in a row because of the major fib line we are at.

Cable Update (GBPUSD)

It would be nice — It it stayed in this sideways daily motion forever. I am making good pips here.

Cable Update (GBPUSD)

[quote=Magix;3275082][quote=Ctic;3275060] Pshhh, last Thursday as I pushed the trigger on sell, my internet died! I made more on the small retrace than on the fall. And I was charting the whole friggen thing on my thread. Sigh...we all have them ...

Cable Update (GBPUSD)

I have seen charts like yours before. Which EMA's make up the chart if I may ask. That could be a good addition to the indicators I use.

Cable Update (GBPUSD)

[quote=Magix;3275011]Agree we are coming close to something serious happening...and direction is always the question.... I too agree we are coming to a point where something can happen here. This stopped at a weekly fib line and a good spot to ...

Cable Update (GBPUSD)

You can expect it to do 1 of 3 things guarenteed. 1. Go Up 2. Go Down 3. Do nothing

Cable Update (GBPUSD)

read up on candlestick patterns. When it gaps up, usually it will fill in the gap or at least partially fill in the gap. If the gap fills it goes the oppisite direction of the gap, if gap does not fill, trend continues in direction of gap, in a ...

Cable Update (GBPUSD)

image You are corect. By my daily chart we can and may go down to 1.6400 before we see next support. After that the next area is down in the 1.6200 area. If we bounce back up we will go for the 1.70 area. However, we may be in a sideways channel ...

Cable Update (GBPUSD)

Magix, It is good to see that your chart although set up differently than mine, is the exact same chart and we came to the exact same conclusions.

Cable Update (GBPUSD)

Thanks Sreep. That was the first chart I was ever able to post here.

Cable Update (GBPUSD)

Test chart maybe image Hit daily 161.8 fib on hour chart. may take a bounce up. Moving averages are coming down and may break, but most likely not today. We have been at this point before, at the beginning of the week. I don't think we will blow ...

Cable Update (GBPUSD)

The European market was very busy but I am still suprised we are getting decent movement now. I almost went to bed last night but then I say a quick 40 pip drop. I decided to stay up and watch awhile. Unfortunately I closed out my trades about an ...

Cable Update (GBPUSD)

We made it to the major daily support line, the 161.8 fib line. Be careful with shorts if you are scalping short term. Support line here is at 1.6475. May pull back here for a while. But if it does break this point it will go down to around 1.6325 ...

Cable Update (GBPUSD)

I would disagree here. Putting treades in every 25 pips or so will blow out your account. Trust me, I did this before a long time ago. If you go back on the daily chart to October 13 until about October 22 this year, you will notice large up ...

Cable Update (GBPUSD)

I agree. Small retracements for the cable can range from 25 to 200 pips. If you are confident in the direction of the trend, and depending on which time frame you are trying to play, the stoploss has to match. I still believe that this is in a ...

Cable Update (GBPUSD)

Well this was a good day, I put some trades in early this morning and went to bed. Woke up positive 204 pips. Who says you can't make money in your sleep. By what I see on the charts, the supports fall on the 1.6550 area and 1.6450 area. However, ...

Cable Update (GBPUSD)

That was nice, I put a short trade in and went to the bathroom, when I came back I was positive 125 pips. Didn't expect that in the time it took me to go to the bathroom.

Cable Update (GBPUSD)