Follow The Bouncing Pip - page 185
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cable
Is this a valid long call for cable??
pl give your comments.
What cane be tp and sl level??
Is this a valid long call for cable??
pl give your comments.
What cane be tp and sl level??Looks good, you can use a 200 pip stop, target at least 700 pips, profit may exceed 700 pips if the setup is good.
Im also long at that level.
Goinglite
Is this a valid long call for cable??
pl give your comments.
What cane be tp and sl level??right now I would be careful of the pound as it is projected to go to 1.96 level to 1.95 before a rise back to above 2
right now I would be careful of the pound as it is projected to go to 1.96 level to 1.95 before a rise back to above 2
Need to be more specific so it can be of some use as a filter to the system.
Goinglite
waiting
I was looking at the cable, and if it was me I would still wait until you have a candle with a long wick on it that bounces off the non-lag zigzag.
It still can go lower.
Just my opinion though.
Merry Christmas everyone
Need to be more specific so it can be of some use as a filter to the system. Goinglite
look at the daily and weekly fibs and the overall state of the pound right now, indicators are good when used correctly but you cannot rely blindly on them without looking at the entire picture of the pair in question.
This IS a nice setup according to the rules of the system but if you are using any pair with any system you need to understand the health of that pair in relationship to the tech and fundi data as well and not blindly follow indicators.
JMOHO
I have been short since 0226 on this pair and look for it to go sub 97 at the least
I was looking at the cable, and if it was me I would still wait until you have a candle with a long wick on it that bounces off the non-lag zigzag.
It still can go lower.
Just my opinion though.Agreed! qqe still don't give confirmation. just my opinion.
waiting
I would wait for confirmation from nonlagdot or a return above the LRC channel in the attached screenshots. Nonlagdot is still red. The uptrending lines are from the daily long term trend. The downtrending lines are from the short term trend since the top at 2.11+.
The fact that the GBPUSD has broken the bottom of the long term channel for the first time in since the Jan 2006 start of the up trend suggests the pair could go much lower. The fib retracement is heading for 38% level and could go below that. However when it reached that level it will also hit the bottom of the short term trend. Might be a good place to look for a bounce. Unless the new trend is a trend reversal and not just a retrace there is no telling where the pair will end its drop.
Robert
Here's my 3 Charts.
Entry, for me, is the touch of the Zigzag line and arrow with at least one of the indicators, in each time frame, in "Buy Zone" (or extremely close to it).
Stop is 200 pips. Target 700+ pips.
Goinglite