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Cable Update (GBPUSD)

  • #86,261
  • Sep 7, 2008 7:10pm Sep 7, 2008 7:10pm
Quoting Carrera
Hello guys,here is what I see on my charts. This analisys is based on last friday closed. I have not open my platform yet.
Nice analysis and I love the flames on the chart!
Just digging in the trenches like everyone else!
  • #86,262
  • Sep 7, 2008 7:31pm Sep 7, 2008 7:31pm
Quoting steelhead

I think everyone knows the way I will be trading it again this week
Hi there Steelhead http://www.forexfactory.com/images/icons/icon7.gif
I was a little curious about your going against the trend all the time. There are plenty of pips to be found in this style of trading, but surly if you had applied your expertise by going short over the the last few months or so, you would have had a lot more success. Maybe you have been going short as well, but that part of your trading has not been documented as much as your other exploits. Just an observation please do not get hacked of as you have been recently. I just wondered what drives you in that direction all the time. Cheers http://www.forexfactory.com/images/icons/icon5.gif
  • #86,263
  • Sep 7, 2008 7:41pm Sep 7, 2008 7:41pm
Quoting Chris_35
Hi there Steelhead http://www.forexfactory.com/images/icons/icon7.gif
I was a little curious about your going against the trend all the time. There are plenty of pips to be found in this style of trading, but surly if you had applied your expertise by going short over the the last few months or so, you would have had a lot more success. Maybe you have been going short as well, but that part of your trading has not been documented as much as your other exploits. Just an observation please do not get hacked of as you have been recently. I just wondered what drives you in that direction all the time. Cheers http://www.forexfactory.com/images/icons/icon5.gif


No worries chris. I was going short when it was up at 2.0 and have done a few here and there. I left something trailing the market from up there so have done ok.

Now im focused on the longside, but might take a few shorts again here and there.

Longterm i see this thing going back north in a big way. I might be wrong but we will see.
  • #86,264
  • Sep 7, 2008 7:50pm Sep 7, 2008 7:50pm
Quoting steelhead
No worries chris. I was going short when it was up at 2.0 and have done a few here and there. I left something trailing the market from up there so have done ok.

Now im focused on the longside, but might take a few shorts again here and there.

Longterm i see this thing going back north in a big way. I might be wrong but we will see.
I hope you saw my post this weekend. I'm not ruling out a northbound run.
Just digging in the trenches like everyone else!
  • #86,265
  • Sep 7, 2008 9:03pm Sep 7, 2008 9:03pm
Quoting eohater
Now I'm just playing around. Took a long at 1.7638. We'll see how it goes. Not looking for much just something to do.
Since it's quiet! I posted this Friday afternoon just playing around before the weekend. I had no intent of holding it over the weekend and it was closed out by my SL at 1.7630 before the weekend anyways. The funny thing is, if my SL would have been at 1.7629 and I left it open over the weekend, I'd be a dancing fool.

Instead, I'm in the trenches like everyone else. I shorted this earlier at 1.7850 and closed out for 50 pips. Now I'm trying to find a place to fit in. I took the trade when I did because of the candle formation. The candle prior to entry closed lower the it's previous candle's close which had no wick. My take profit was determined from the 3rd candles low.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 83 KB
Just digging in the trenches like everyone else!
  • #86,266
  • Sep 7, 2008 9:17pm Sep 7, 2008 9:17pm
This is what I'm currently looking at.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 127 KB
Click to Enlarge Name: chart2.JPG Size: 126 KB
Just digging in the trenches like everyone else!
  • #86,267
  • Sep 7, 2008 9:24pm Sep 7, 2008 9:24pm
MNI - 9/7/2008 9:52:33 PM - CABLE TECHS

CABLE TECHS: Above $1.7951 brings possible gains to $1.8013/16
RES 3 $1.8083 Hourly chart
RES 2 $1.7951 Intraday (NZ) high
RES 1 $1.7855 Hourly chart
CURRENT LEVEL: $1.7891
SUP 1 $1.7745 Prev. res
SUP 2 $1.7675 Intraday (NZ) low
SUP 3 $1.7537 05 Sep low
COMMENTARY: Breach of $1.7860 (Thursday`s high) signals recent decline has formed temporary low at $1.7537 above $1.7951 brings correction to $1.8013/16 (50% of $1.8498-1.7537 38.2% of $1.8792-1.7537) then $1.8083/84 (res n present lvl of 13-day ema) but upside likely limited to $1.8165 (50% of $1.8792-1.7537) $1.8237 should hold.
  • #86,268
  • Sep 7, 2008 9:35pm Sep 7, 2008 9:35pm
Won 200 pips from gbpjpy short and now another 101 pips from gbpusd ... 300 pips, way to start the week!!

Attached Image (click to enlarge)
Click to Enlarge Name: 101pips.JPG Size: 13 KB


I think GBPUSD is all set to hit the 1.8000 or maybe test 1.8100 range today, if alls well
  • #86,269
  • Sep 7, 2008 9:41pm Sep 7, 2008 9:41pm
Quoting dznmrd
Won 200 pips from gbpjpy short and now another 101 pips from gbpusd ... 300 pips, way to start the week!!

Attachment

I think GBPUSD is all set to hit the 1.8000 or maybe test 1.8100 range today, if alls well
are you going to post the losses too?....
Patience + Discipline - Greed = Success
  • #86,270
  • Sep 7, 2008 9:49pm Sep 7, 2008 9:49pm
Quoting Infinity
are you going to post the losses too?....
Just digging in the trenches like everyone else!
  • #86,271
  • Sep 7, 2008 9:51pm Sep 7, 2008 9:51pm
This is why you wait. All you that went short at 7850 or above should have waited. Patience the charts well tell the story.
  • #86,272
  • Sep 7, 2008 9:52pm Sep 7, 2008 9:52pm
Quoting Infinity
are you going to post the losses too?....
I posted in relation to gbpusd which is currently on uptrend.

Attached Image


Look like there's scope to reach the monthly open of 1.8150 if its heading up
  • #86,273
  • Sep 7, 2008 9:56pm Sep 7, 2008 9:56pm
Quoting steelhead
This is why you wait. All you that went short at 7850 or above should have waited. Patience the charts well tell the story.
So true!
Just digging in the trenches like everyone else!
  • #86,274
  • Sep 7, 2008 10:02pm Sep 7, 2008 10:02pm
Quoting eohater
So true!
exactly... patience patience patience....
Patience + Discipline - Greed = Success
  • #86,275
  • Sep 7, 2008 10:03pm Sep 7, 2008 10:03pm
MNI - 9/7/2008 10:54:42 PM - UK
The credit crunch is likely to last well into....

UK: The credit crunch is likely to last well into 2010 Andy Hornby head of the UK`s largest mortgage provider has warned. The HBOS chief told the BBC it would take 18 months before US house prices started to rise again. That was needed "to give the confidence back into the system for banks to start lending again" Hornby said. Speaking before Sunday`s US announcement about the takeover of the GSE`s he suggested there was little that the UK Government could do to stimulate the markets.
  • #86,276
  • Sep 7, 2008 10:06pm Sep 7, 2008 10:06pm
I am watching to see how price reacts right here at the 4h 50ema....

If it holds, it may be a good short..
Patience + Discipline - Greed = Success
  • #86,277
  • Sep 7, 2008 10:07pm Sep 7, 2008 10:07pm
Look at this level and see how it reacts in the next hour or so. I am considering a short if four hour closes in this area. You can also look at your 15 minute chart to see how it proggresses. If it has a hard time breaking this area that tells you something.



I am always on yahoo im at [email protected]. Anyone who wants to chat live feel free to add me
  • #86,278
  • Sep 7, 2008 10:08pm Sep 7, 2008 10:08pm
Quoting Infinity
I am watching to see how price reacts right here at the 4h 50ema....

If it holds, it may be a good short..
Your ema is right in line with the upper channel resistance. Same area I'm watching.
Just digging in the trenches like everyone else!
  • #86,279
  • Sep 7, 2008 10:10pm Sep 7, 2008 10:10pm
Infinity, Steelhead, we're all on the same page.
Just digging in the trenches like everyone else!
  • #86,280
  • Sep 7, 2008 10:14pm Sep 7, 2008 10:14pm
Quoting eohater
Infinity, Steelhead, we're all on the same page.
yup... hopefully we are all right too...
Patience + Discipline - Greed = Success
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