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Cable Update (GBPUSD)

  • #3,901
  • Dec 29, 2006 1:51am Dec 29, 2006 1:51am
here is the chart with PPCCD - notice what happens when PPCD hits outer bands and price turn is confirmed - it is not at outer band, yet I'm assuming with holiday volume, may be difficult to hit 2 standerd deviations, currently we have already hit 1.5.
Attached Image
Man who scratches ass should not bite fingernails
  • #3,902
  • Dec 29, 2006 1:56am Dec 29, 2006 1:56am
Leugimp, thanks, I will keep an eye on that and see if it fits with my technique. Thanks again, always willing to learn !!
  • #3,903
  • Dec 29, 2006 2:01am Dec 29, 2006 2:01am
Quoting fxkenny
Pray tell, am I missing something? Everyone seems to be "sold" on "selling" Earlier today I was talking about flattening around 9600 or possibly retreating to 9560/70 before turning long. This said, I can follow to our current position. Also, as stated 2705/15 is critical for the upside, but, please, what are we seeing to intice us short from our present position (9650/60)??
Yesterday at end of day price came down from 50, we were looking to retest that level. I saw a few other things pointing to 65-75 and went long to go for 15 pips, although at one point there was a quick move that made me nervous so i got out down 6 pips to wait for the larger move that we have been planning for 9650 also seemed like a decent target when assuming that the pair would build yet a new support area in the 9560-70 area, so it also fit within the range forseen for today. Couple that with some divergence and negative reversals and it doesn't seem like a bad level to get in at, although it very much depends on your risk tolerance as the move is not negated unless certain things happen, and so you shouldn't just set up arbitrarily a stop loss number that you feel comfortable with but rather set your stop at the appropriate level for this move. It is not for everyone. Alot of times, I also just like to take 10 here 15 there, but i really like this potential and I can size it to fit my risk profile.
Man who scratches ass should not bite fingernails
  • #3,904
  • Dec 29, 2006 2:05am Dec 29, 2006 2:05am
Quoting fxkenny
Also, as stated 2705/15 is critical for the upside, but, please, what are we seeing to intice us short from our present position (9650/60)??
Well I went short about 20 minutes ago. For me the short signal was the testing of an upper trendline which had already provided resistance twice before.
  • #3,905
  • Dec 29, 2006 2:05am Dec 29, 2006 2:05am
sure doesn't want to let go of 9650, does it???
  • #3,906
  • Dec 29, 2006 2:07am Dec 29, 2006 2:07am
Quoting mtrmth
sure doesn't want to let go of 9650, does it???
anxious are you
Man who scratches ass should not bite fingernails
  • #3,907
  • Dec 29, 2006 2:08am Dec 29, 2006 2:08am
Quoting mtrmth
sure doesn't want to let go of 9650, does it???
You sure talk about nothing at all don't you???
  • #3,908
  • Dec 29, 2006 2:10am Dec 29, 2006 2:10am
So what is the downward target for today? It appears that 9600 would form a good base going into the New Year as this was abouts where today's open was but is it possible to go below here?
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #3,909
  • Dec 29, 2006 2:11am Dec 29, 2006 2:11am
yes i am, sorry. i guess my patience is on vaca!!! as for talking, i think my handle says it all!! if i do not talk, you won't offer up ideas, suggestions, strategies etc...
  • #3,910
  • Dec 29, 2006 2:14am Dec 29, 2006 2:14am
aim for what you pretty sure it will hit and let the rest ride to where you think it is going and trail it wide. 9600 is a good psychological level for a first target, although with long stops placed below, you could probably squeeze a few more out of it if it gets down there.
Man who scratches ass should not bite fingernails
  • #3,911
  • Dec 29, 2006 2:15am Dec 29, 2006 2:15am
price is at the upsloping trendline, curious to see what happens here.
Man who scratches ass should not bite fingernails
  • #3,912
  • Dec 29, 2006 2:17am Dec 29, 2006 2:17am
think we should find a little support at 9614
Man who scratches ass should not bite fingernails
  • #3,913
  • Dec 29, 2006 2:17am Dec 29, 2006 2:17am
Quoting mtrmth
yes i am, sorry. i guess my patience is on vaca!!! as for talking, i think my handle says it all!! if i do not talk, you won't offer up ideas, suggestions, strategies etc...
Very smart guy you are!
  • #3,914
  • Dec 29, 2006 2:20am Dec 29, 2006 2:20am
Hi Mickey,


I'm new at forex and trying to learn as much as I can. May I know how this upper trendline is drawn? From what point to what point? If you can post a chart, then that's even better.

Thanks.

Quoting mickeymickey
Well I went short about 20 minutes ago. For me the short signal was the testing of an upper trendline which had already provided resistance twice before.
  • #3,915
  • Dec 29, 2006 2:21am Dec 29, 2006 2:21am
so they tell me, i just do not have all the teminology down and understood yet. i am in first grade here, cut me just a little slack!!
  • #3,916
  • Dec 29, 2006 2:22am Dec 29, 2006 2:22am
Well, my hat is off to everyone selling. I certainly did not see that coming. Thanks for the info.
  • #3,917
  • Dec 29, 2006 2:22am Dec 29, 2006 2:22am
hey l,

looks like wwe slipped off that 9650 branch, got my 25 pips.
  • #3,918
  • Dec 29, 2006 2:23am Dec 29, 2006 2:23am
hey cesar,

any good thoughts??
  • #3,919
  • Dec 29, 2006 2:24am Dec 29, 2006 2:24am
good Call " L "
Quoting Leugimp
think we should find a little support at 9614
  • #3,920
  • Dec 29, 2006 2:24am Dec 29, 2006 2:24am
Congrats - if you're done then have a festive new year
Man who scratches ass should not bite fingernails
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