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Cable Update (GBPUSD)

  • #104,701
  • Dec 5, 2008 8:28am Dec 5, 2008 8:28am
Quoting Komissar
I was reading your posts, guys, for this week. And I observed the market behavior. Just curious - any predictions work these days?
Very tough right now...just scalping off the 5 min using inside bars at the moment
  • #104,702
  • Dec 5, 2008 8:39am Dec 5, 2008 8:39am
Quoting Zuke
Very tough right now...just scalping off the 5 min using inside bars at the moment
Me too - there is a range between 4634 and 4601.

Made a few pips with this one.

I thunk it will turn south again soon.
  • #104,703
  • Dec 5, 2008 8:40am Dec 5, 2008 8:40am
Quoting chrispang81
i really dont see any patterns. it seems to be more random than moving in patterns

This is the POTENTIAL Gartley 222 I detected on the 15-min, 5-min timeframe.

Apologize it should be prices can't break below 1.4528 in order for Gartley 222 to resolve.
Attached Image (click to enlarge)
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~*~You are only one trade away from humility~*~
  • #104,704
  • Dec 5, 2008 8:49am Dec 5, 2008 8:49am
Wedge forming on 15m chart.
Attached Image (click to enlarge)
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  • #104,705
  • Dec 5, 2008 8:58am Dec 5, 2008 8:58am
Unless there is a MAJOR spike, inside bar will form on hourly. High 4638, Low 4578
  • #104,706
  • Dec 5, 2008 9:02am Dec 5, 2008 9:02am
Quoting Komissar
I was reading your posts, guys, for this week. And I observed the market behavior. Just curious - any predictions work these days?
Down!
  • #104,707
  • Dec 5, 2008 9:20am Dec 5, 2008 9:20am
Safe to long GBP/USD from here @ 1.4560?
  • #104,708
  • Dec 5, 2008 9:22am Dec 5, 2008 9:22am
Quoting hantousha
Safe to long GBP/USD from here @ 1.4560?
Your guess is as good as mine
I have PO @ 1.4525 tho`
  • #104,709
  • Dec 5, 2008 9:22am Dec 5, 2008 9:22am
as long as it goes down to 14470 first, i don't mind if it goes up
PIPPED TO THE LINE
  • #104,710
  • Dec 5, 2008 9:25am Dec 5, 2008 9:25am
Some good support at 4550, HOWEVER, looking at the Price action, I would waiting for further confirmation before even thinking about a long
  • #104,711
  • Dec 5, 2008 9:26am Dec 5, 2008 9:26am
i've done some state of art trades this week... and some other state of stupidity trades as well... hahaha making my weak almost flat...

primary motive for state of stupidity was greed... mostly counter trend!!!
When life gives you lemons, make lemonade
  • #104,712
  • Dec 5, 2008 9:28am Dec 5, 2008 9:28am
Quoting hantousha
Safe to long GBP/USD from here @ 1.4560?
ill long for 20-25 pips if the 5M candle closes above 1.4555
  • #104,713
  • Dec 5, 2008 9:31am Dec 5, 2008 9:31am
Seems like we are getting ready for another break out to tge down side
Attached Image (click to enlarge)
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  • #104,714
  • Edited 9:41am Dec 5, 2008 9:40am | Edited 9:41am
this is what im talking about: weren't you tempted to long at 49? yes you were, so was i... but i will not go long counter trend... why? because i had 80% profitable trades with the trend and 90% losing trades counter trend with tight stop loss so why would i want to bother again!!!
When life gives you lemons, make lemonade
  • #104,715
  • Dec 5, 2008 9:43am Dec 5, 2008 9:43am
If it breaks below the 1.45 looks like possibly another 100 pip move
  • #104,716
  • Dec 5, 2008 9:48am Dec 5, 2008 9:48am
Long @ 1.4550.
SL 1.4515
TP 1.4600
  • #104,717
  • Dec 5, 2008 9:52am Dec 5, 2008 9:52am
This could be getting into a range you amy be correct, I do not trade ranges but there are pips to be taken there for sure
  • #104,718
  • Dec 5, 2008 9:54am Dec 5, 2008 9:54am
I missed the first break out at .4633 but there will be more
  • #104,719
  • Dec 5, 2008 9:57am Dec 5, 2008 9:57am
Quoting micho
this is what im talking about: weren't you tempted to long at 49? yes you were, so was i... but i will not go long counter trend... why? because i had 80% profitable trades with the trend and 90% losing trades counter trend with tight stop loss so why would i want to bother again!!!
learned that the hard way last year by blowing 10K account countertrending. Now i got almost everything back.
as they say Trend is your friend and girlfriend
  • #104,720
  • Dec 5, 2008 9:57am Dec 5, 2008 9:57am
Quoting gagakrimba
Long @ 1.4550.
SL 1.4515
TP 1.4600
Got the jitters....closed @ 1.4575
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