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Cable Update (GBPUSD)

  • #6,861
  • Feb 23, 2007 4:12am Feb 23, 2007 4:12am
Quoting cesarnc
This hourly MUST close below 9555 or we're having a HUUUUUGE pin-bar here!!!
No left nut.
  • #6,862
  • Feb 23, 2007 4:14am Feb 23, 2007 4:14am
I am long for the 9700's. Stop below 9500.
  • #6,863
  • Feb 23, 2007 4:15am Feb 23, 2007 4:15am
Quoting Bradone
No left nut.
  • #6,864
  • Feb 23, 2007 4:21am Feb 23, 2007 4:21am
Quoting cesarnc
They call it pinocchio in this pdf. Looks like something different according to my lady friend. She had quite a laugh over it.
Attached File(s)
File Type: pdf Pin Bars.pdf   175 KB | 365 downloads
  • #6,865
  • Feb 23, 2007 4:30am Feb 23, 2007 4:30am
Quoting Bradone
They call it pinocchio in this pdf. Looks like something different according to my lady friend. She had quite a laugh over it.
oh, I got the "left nut"

No left nut but yet a strong refusal down there, bouncing at a confluence of figures... former resistance (9547), 1hr&4hr 250EMA, 5M 250EMA, Frankfurt Open, goes on and on and on.

And on the up side 9600 is the top of a strong downwards channel. I don't see that heck of a strengh here to break above of it. As bears are also showing exhaustion, we may be trapped between 9550 and 9580 here 9600 at most.

15M candle usually shows continuation on s spike like that. Not this time and no close below 9557....
  • #6,866
  • Feb 23, 2007 4:31am Feb 23, 2007 4:31am
These are open orders (not filled) at Oanda. One side has to cave. The standoff is usually broken on a Friday but who knows which way.
Attached Image
  • #6,867
  • Feb 23, 2007 4:33am Feb 23, 2007 4:33am
Quoting Bradone
No left nut.
You need to look on the 5M chart--it has a nice matched set. Or to put it the way it is stated during the ceremony of the elevation of the Pope "Duo sont et bene pendentes."
  • #6,868
  • Feb 23, 2007 4:39am Feb 23, 2007 4:39am
Quoting moonchild
You need to look on the 5M chart--it has a nice matched set. Or to put it the way it is stated during the ceremony of the elevation of the Pope "Duo sont et bene pendentes."
Yeah..

big bounce, H&S. neck at 9570
  • #6,869
  • Feb 23, 2007 4:39am Feb 23, 2007 4:39am
OOOHH yeah.. This is an out and out war..

its a close call.. and its stuck in a reasonably tight range..

But looking at the other pairs.. Finally GBPJPY looks to have stalled and not really gain anymore..

The EurUSD as usual, not doing much, but still almost wanting to go short..

Im still foolishly holding short, but will go long at 9580, if I really have to ;-)
  • #6,870
  • Feb 23, 2007 4:52am Feb 23, 2007 4:52am
I hope I´ve attached the chart correctly.....I think this is a good possible current count.....the Asian session always causes problems as so little happens
Attached Image
Trading Levels with WRBs
  • #6,871
  • Feb 23, 2007 5:02am Feb 23, 2007 5:02am
1hr failed to close above 9577 at least, better would be above 9582.

There's something telling me to quit trading until we see 9399 or 9601
  • #6,872
  • Feb 23, 2007 5:03am Feb 23, 2007 5:03am
Quoting cesarnc
1hr failed to close above 9577 at least, better would be above 9582.

There's something telling me to quit trading until we see 9399 or 9601

I had exactly the same feeling.. Im closing my position.. I need to go out so I dont want to come back to any shock spikes that kill me!!!
  • #6,873
  • Feb 23, 2007 5:13am Feb 23, 2007 5:13am
Yep that's pretty much what my analysis says. I know for a fact that I'm not a scalper and this erratic movement is far to dangerous to get involved with.
  • #6,874
  • Feb 23, 2007 5:13am Feb 23, 2007 5:13am
Quoting patricio0793
I had exactly the same feeling.. Im closing my position.. I need to go out so I dont want to come back to any shock spikes that kill me!!!
Like yesterday patricio? I was short, saw the price action stall, decided to close for a small gain, then an hour later the big spike up.
  • #6,875
  • Feb 23, 2007 5:16am Feb 23, 2007 5:16am
Thats exactly what I did.. and look at it right now.. up up and away.. might be worth me shorting at 1.9600 ???

So glad I close my position just then!!
  • #6,876
  • Feb 23, 2007 5:20am Feb 23, 2007 5:20am
I'm going to stay away from cable today. All the chop and slop this week has me thinking wait for a clear signal. I'll keep my gbp/jpy long though, the consensus is for more rate increases for the uk.
  • #6,877
  • Feb 23, 2007 5:32am Feb 23, 2007 5:32am
Low 96ers on the cards IMO. I don't see any further down move today, sorry shorters.... Too much time waiting a short move to prove itself and all we saw was 30 pips up. This is no short signal for all I learned here.

By this time of the day, throughout the USD session, we've seen boosts upwards all week. Is this going to be different because this is Friday? HELL MAYBE.

PLUS

Unless Cable drops 40 pips in the next 30 minutes, we're having a FAT HUGE STRONG 4hr pin-bar to be added to the 1hr pin-bar that proved itself consistent. Bulls are holding the market as of yet.

Yesterday's candle is a fat pin-bar topped 9600. Higher low already in place, higher high to be seen.

Is the 4hr pin-bar + daily pin-bar not working today because it is Friday? HELL MAYBE
  • #6,878
  • Feb 23, 2007 5:39am Feb 23, 2007 5:39am
Quoting cesarnc
I don't see any further down move today, sorry shorters
All I had to do was writting this shit for the price to drop 10 pips.

Did I mention that i hate Fridays?
  • #6,879
  • Feb 23, 2007 5:44am Feb 23, 2007 5:44am
Quoting cesarnc
All I had to do was writting this shit for the price to drop 10 pips.

Did I mention that i hate Fridays?
LOL! Just like my trades. If I want it to go one way, just place an order in the opposite direction.
  • #6,880
  • Feb 23, 2007 5:52am Feb 23, 2007 5:52am
it is f'n Euro on the move again ....It hasn't given up the fight at 3110...5th time or something

But this time, Cable seems to be holding ....

Guess that comment of mine will spike another 30 pips down
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