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Cable Update (GBPUSD)

  • #184,381
  • Nov 23, 2009 11:06am Nov 23, 2009 11:06am
the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?
  • #184,382
  • Nov 23, 2009 11:09am Nov 23, 2009 11:09am
Quoting alex1976
the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?
could You pls post a cart because some of us have still many hrs till the close of the day

Thank You

Peter
Jesus Christ is my only Lord !
  • #184,383
  • Nov 23, 2009 11:13am Nov 23, 2009 11:13am
Quoting alex1976
the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?
We are caught in a compression zone. The daily favors the bull, but movement supports a retrace and drop.

I still have no confirmation on an hourly chart - 24SMA breach, hold and support....H1

Until then, it is a gamble.

I did take short signal on the 5m, 1.6624, entering for 1.6619. S/L is @ BE....

It is a goofy day.

Weekly IMO still supports a longside, but only time will tell.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,384
  • Nov 23, 2009 11:18am Nov 23, 2009 11:18am
Quoting alex1976
the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?
yeah, but still some 6 hrs 2 go central eu time. And the volume very low 2day,, haf that of the last well 4 and a half months.... Probably the traders dont wanna get in trades 2day because they r waiting the busy week ahead
  • #184,385
  • Nov 23, 2009 11:19am Nov 23, 2009 11:19am
The chart as I see it....

Compression zone, Blue circle.
Support, Green circle.
Resistance, Red circle.

Tripped out @ BE...Gunna wait for confirmation....I do feel a fall coming, but I am going to wait for a directional break. Gambling, not my style.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,386
  • Nov 23, 2009 11:35am Nov 23, 2009 11:35am
Quick 15 pip scalp, exited hitting 200EMA on 5m chart....

OKAY, Now, I'm gunna wait for a break!

Maybe...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,387
  • Nov 23, 2009 11:53am Nov 23, 2009 11:53am
Interesting position of current price...

H4 and H1 support area. A breach, hold and close, will support a further drop.

Hold of this area, supports the weekly bull...

The suspense builds.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,388
  • Nov 23, 2009 12:17pm Nov 23, 2009 12:17pm
Quoting Magix
Interesting position of current price...

H4 and H1 support area. A breach, hold and close, will support a further drop.

Hold of this area, supports the weekly bull...

The suspense builds.
Me too

as usual I am getting in early for a north bound as I like the 15m chart

However I am watching it constantly and any fall off sees me out toot sweet !

Yes it's on the cusp

Made a bundle on shares again but taken some of the largest profits and when it falls again, I will be into ETF RTR which is the S&P ADR index - it's basically every huge company in the world outside the US and a great play on a weaker dollar as it's unhedged. Hoping for a double whammy on dollar weakness plus company dividends

While we don't know which individual companies will suddenly fall, etf index funds are being used by even large investment houses

...and me coz I am chicken chow mein
  • #184,389
  • Nov 23, 2009 12:28pm Nov 23, 2009 12:28pm
Whew, thanks allserene...I am glad somebody responded, I was beginning to think I was the last one left playing cable today....

I am not getting a great loving feeling for the longside of the chart as of just yet, and have scalped a few plays favoring the bears so far, but am sitting tight and waiting for the break...

I have in the meantime, painted a wall and planted some grass, this gives me something equally as boring to watch...paint dry, grass grow...as today's movement...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,390
  • Nov 23, 2009 12:31pm Nov 23, 2009 12:31pm
Speaking of compression zones... as far as multiple ema's are concerned they are all over the place in every time frame in different stages .... some are forming tightly as with the 15m chart here... some on other tf's have broken apart in their cycle and are beginning to gather again as with this 5m chart.

If the 5m and 15m ema's will continue to coil together tightly in this current trading range it could produce the energy to spring loose either upward to continue the 1h compression or downward to gather the daily. Each zone obviously takes a certain time relative to the tf. Smaller tf's help build the larger.

It would be interesting to see if there is any correlation between these compression patterns as they move together to maturity and then apart into separation and any other trading analysis such as elliott wave.

Dr. D.
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  • #184,391
  • Nov 23, 2009 12:31pm Nov 23, 2009 12:31pm
Quoting Magix
Whew...I am glad somebody responded, I was beginning to think I was the last one left playing cable today....

I am not getting a great loving feeling for the longside of the chart as of just yet, and have scalped a few plays favoring the bears so far, but am sitting tight and waiting for the break...

I have in the meantime, painted a wall and planted some grass, this gives me something equally as boring to watch...paint dry, grass grow...as today's movement...
You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so
  • #184,392
  • Nov 23, 2009 12:37pm Nov 23, 2009 12:37pm
Quoting allserene
You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so

FWIW...I have selected this week as my make or make. Confidence has built to a point where I have been very successful over the last few weeks, and have turned scalping into an almost art form.

I have my contract termination letter ready for sending, my account loaded and my mind set solid....Now all I need is a play range a little better than the NY session has provided.

Will this be the week that I go into the game full hearted with guns a blazing?

I am only asking $500-$1000/day, is that really to much?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,393
  • Nov 23, 2009 12:39pm Nov 23, 2009 12:39pm
Quoting allserene
You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so
I watched a O.Duck upend a pesty A.Wildcat this weekend on the gridiron.

Great game.

Dr. D.
  • #184,394
  • Nov 23, 2009 12:44pm Nov 23, 2009 12:44pm
i'm going long at 6595 because on 5 15 min and 1h hourly time frames stochastics have rolled over and bullish possibility is there now, overall sentiment is dollar negative and i'm thinking that tommorow we could see near 6720, which is 38.2 fibo from 6875-6460, and i at the moment hourly candle looks like won't close under 6600 this could mean that there is some resistance and go till asian open to 6650. Eur/gbp stochastics also favor a fall, that could help
  • #184,395
  • Nov 23, 2009 12:54pm Nov 23, 2009 12:54pm
Quoting fourxtrader
I watched a O.Duck upend a pesty A.Wildcat this weekend on the gridiron.

Great game.

Dr. D.
American football is just something that happens to other people - though my 'trouble and strife' watches it all sunday. I have a peek at the cheerleaders as I pass through the room. Free pole dancers at the football but no nippies on the beach !

I knew a wildcat that tried to upend a duck - but couldn't get up for down

enough of this levity , back to the task - made a dime on my long - what a boost !
  • #184,396
  • Nov 23, 2009 1:01pm Nov 23, 2009 1:01pm
Quoting Endrju
i'm going long at 6595 because on 5 15 min and 1h hourly time frames stochastics have rolled over and bullish possibility is there now, overall sentiment is dollar negative and i'm thinking that tommorow we could see near 6720, which is 38.2 fibo from 6875-6460, and i at the moment hourly candle looks like won't close under 6600 this could mean that there is some resistance and go till asian open to 6650. Eur/gbp stochastics also favor a fall, that could help
on 15 min we have a pin bar out of 38% fibo so more likely it will go down

- I do not like small TF

Peter
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Jesus Christ is my only Lord !
  • #184,397
  • Nov 23, 2009 1:14pm Nov 23, 2009 1:14pm
Quoting hipcio
on 15 min we have a pin bar out of 38% fibo so more likely it will go down

- I do not like small TF

Peter
it's too small pin bar, it won't affect all situation. i'm putting sl closer at 6582, still in favor of long
  • #184,398
  • Nov 23, 2009 1:14pm Nov 23, 2009 1:14pm
and whats more H&S

Peter
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  • #184,399
  • Nov 23, 2009 1:17pm Nov 23, 2009 1:17pm
Anything can happen but I trade what I can see

Peter
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  • #184,400
  • Nov 23, 2009 1:22pm Nov 23, 2009 1:22pm
The pivot zone has been tried and formed s/r 14 times here on 15 min
- I do not know but it looks strong doesn't it

Peter
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Jesus Christ is my only Lord !
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