Cable Update (GBPUSD)

Close enough to my target then failed and dumped nicely, the Sellers are in control people.


Nav on your 15min chart ( TRUST ME ) plot 96sma ( 24hour ), 48sma ( 12hour ), it just reversed off the 24hour line which is a damn good sign and a strong S/R line, currently sitting spot on the 12hour.

Throw in a 6hour 24sma and it's a tradeable system just there.

Expecting a break to @9930 shortly!! then bounce up agan!!

What I've been doing is dropping down to the 1 hour candle as soon as the 4 hour shows a break out of the "unknown" zone.

It's not uncommon to see several moves up and down in the 1 hour time frame, and I usually don't enter until I see a 1 hour candle break above or below the high or low of the recent 1 hour candles outside of the "unknown" area whichever the direction of the breakout is.

Thus far, when i have followed that routine, I have been profitable.

Certainly not as profitable as Abuawad, but profitable nonetheless.

UJ going nuts and bullish, we'll be going down !!

euro is falling
i think its only a matter of time before cable follows

Both pins are active and have not been broken.So the intresting thing is which one breaks first.I mean its a little unusual to have this situation on the daily.

i still feel that the cable is gonna fall....big time...

How do you tell when a pin has been "broken"?

Yes, I feel the same thing.

Well if everyone seems to want it short then it must be time to go long for a little while

Called a bear trap isn't it? Quick rise to take out the people who have stops around 30-40pips away

Check This, For Who Asking For Live Trading

question now is will breeched support act as resistance on any re-trace to the area?

shorted cable from 20180. 20025. 19970. closed the position from 20025, 19970.
kept two 20180 short.
i guess cable will have a rebounce to somewhere 20025 tomorrow. but today, there maybe some more to come

good day

if 1.9830 broke ... we gonna see 1.9766 to 1.9736 .. 1.9830 is important point

wth respect to above posters and all contributers to this thread, it's been said before i know, But posting retrospective trading calls or own resulst is just a silly pissing contest.

What's useful/important is not what any one has done ie ' I shorted at x , or I just got x pips,' but proper intelligent analysis of the prevailing technical market conditions.

For the new traders out there, don't be put off by it, most of the results people brag about on any boards are fictional. As an example a friend of mine connected to an account manager at one of the big brokerages said recently that of the literally thousands of retail traders he had seen open accounts over the years, only 10 had been consistently profitable, over any extended time period.

It is unspectacular consistency that keeps you in the game.

after hour BOE Governor King Speaks ... it will clear the direction

9843-60 is the 76.4% fibs of 9757 and 9735 to 0193. Mni talking abot bids at 9835/25 more at 9800/10, with offers on approach to 990 now. 9895-9902 being 38.2% of intraday move and 23.6% of 0089-todays low, (so far)

Northern Rock Aims to Repay BoE Debt by end-2010 - Rtrs

4hr trend line under threat?

Just finished a nice move down with cable.

Dazfx, your 8,3,3 stoch shows the hidden (reverse) divergence at the lower high clearly as well