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  • #3,541
  • May 14, 2008 6:18pm May 14, 2008 6:18pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Thanks CC. Makes sense if you're sleeping. Just bought some amazing coffee from whole foods I'll be trying out later. Really glad no fundie's tonight. Hopefully we'll get some nice volatility too w/o too many bumps in the road.
"Wishful thinking dies hard." Igor T.
  • #3,542
  • May 14, 2008 6:19pm May 14, 2008 6:19pm
My believes in the gbp/usd is that it has hit the major resistance levels....As we can see it is also showing us that price has slow down on the resistance short...What this can mean is that it might only be a retracement to the bigger move...so be carefull...

I would only take a trade later on today ...also for me to take a trade short I would wait to have that upward trendline breack and you would treat it as a scalp untill price leaves the intraday levels...

As for a long..I would take the break of the high but only at a later time of the day...
Bo let me know what you think bud..

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  • #3,543
  • May 15, 2008 12:50am May 15, 2008 12:50am
Cheers Bo and friends

I see cable broke yesterdays high, if 1hr candle closes above it, anyone going long?

Waiting for reply

Cheers!
  • #3,544
  • May 15, 2008 12:52am May 15, 2008 12:52am
I am in long already....
  • #3,545
  • May 15, 2008 1:02am May 15, 2008 1:02am
Hoping for the push of swing fibb to take it to the intraday target...

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  • #3,546
  • May 15, 2008 1:11am May 15, 2008 1:11am
My analysis for GU is Medium term long, to 1.9747-1.9996 atm, weekly retracement decision zone, before it will head down.

But i have a problem here understanding why you fib 1.9636 to 1.9363 atm, that u called resistance.

Thanks
  • #3,547
  • May 15, 2008 1:25am May 15, 2008 1:25am
Quoting Naijafx
My analysis for GU is Medium term long, to 1.9747-1.9996 atm, weekly retracement decision zone, before it will head down.

But i have a problem here understanding why you fib 1.9636 to 1.9363 atm, that u called resistance.

Thanks

Because this upward movement of today can just be a pullback.. thats why I have that resistance fibb...
  • #3,548
  • May 15, 2008 1:35am May 15, 2008 1:35am
Price is still pulling up...

if price contininues up be aware of resistance pivot if you are long

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  • #3,549
  • May 15, 2008 2:01am May 15, 2008 2:01am
Still holding my long...swing levels only got tested...we have indecision...but levels are still holding...

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  • #3,550
  • May 15, 2008 2:22am May 15, 2008 2:22am
Quoting ChowClown
Agreed. Stops to b/e now, it's had enough time to shove off.
The long stopped out @ b/e overnight. I'm flat GU and back on watch.
  • #3,551
  • May 15, 2008 2:25am May 15, 2008 2:25am
I am still holding my long...my swing levels are holding...price action will let me know when its time to jump out...

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  • #3,552
  • May 15, 2008 2:43am May 15, 2008 2:43am
main resistance at 9488 pay attention that is resistance pivot....

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  • #3,553
  • May 15, 2008 3:57am May 15, 2008 3:57am
looking good still in the long...

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  • #3,554
  • May 15, 2008 4:03am May 15, 2008 4:03am
Quoting Shermenator
looking good still in the long...

Attachment
Hi Shermenator, please could you post where you entered and where you placed your initial stop? Thanks.
  • #3,555
  • May 15, 2008 4:07am May 15, 2008 4:07am
Quoting ChowClown
Hi Shermenator, please could you post where you entered and where you placed your initial stop? Thanks.

I came in long on the break of the intraday high 9473

and held my long...
I did not place a stop but instead had a mental stop ...My mental stop was if i got a close below 9464...That would show me that the swing supporting the long failed i held it and it payed off...also price action never told me the appossite...also the upward trendline held each time...

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  • #3,556
  • May 15, 2008 4:09am May 15, 2008 4:09am
Price has also been making higher closes and higher lows...
  • #3,557
  • May 15, 2008 4:16am May 15, 2008 4:16am
Quoting Shermenator
I came in long on the break of the intraday high 9473

and held my long...
I did not place a stop but instead had a mental stop ...My mental stop was if i got a close below 9464...That would show me that the swing supporting the long failed i held it and it payed off...also price action never told me the appossite...also the upward trendline held each time...

Attachment
OK, thanks. Hopefully there will be a dose of momentum soon to get the trade cooking for you.
  • #3,558
  • May 15, 2008 5:09am May 15, 2008 5:09am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I just took short. Opening below Support break.
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"Wishful thinking dies hard." Igor T.
  • #3,559
  • May 15, 2008 5:30am May 15, 2008 5:30am
Quoting FxChi
I just took short. Opening below Support break.
...i'm short too this morning, but from a longer TF strat that has much wider stops.

I want to see cable looking 'cleaner' on the hrlies before considering the next hrly fib setup.

Good luck with the short, put some of that coffee on for me will 'ya
  • #3,560
  • May 15, 2008 5:39am May 15, 2008 5:39am
I went in long from the break of the intraday high 9472 and still in the trade and will keep watching and see what cable does next.
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