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Cable Update (GBPUSD)

  • #111,081
  • Jan 13, 2009 11:20am Jan 13, 2009 11:20am
Quoting Galation
Yeah, there was a hard bounce at 1.4503, so I went long. I will take profit based upon the price action as I believe it will come back down and test this again.
Nice seems everyones on board hopefully there will be pips for everyone!
  • #111,082
  • Jan 13, 2009 11:20am Jan 13, 2009 11:20am
Quoting PipLand
Sweet, I feel a rally coming on
I feel a re-test coming on: at some point.
Probability Professor
  • #111,083
  • Jan 13, 2009 11:21am Jan 13, 2009 11:21am
Quoting PipLand
cheers Im hoping 4500 will be strong enough support, we'll soon find out i guess
We will find out. I agree with Galation, we will retest this area. Keep an eye on it. Either keep your SL below 4470 or secure your position and watch PA for a new entry.
Just digging in the trenches like everyone else!
  • #111,084
  • Jan 13, 2009 11:22am Jan 13, 2009 11:22am
Quoting Galation
I feel a re-test coming on: at some point.
Agreed. She has a lot of traffic to get through if she's going to keep going up.
Just digging in the trenches like everyone else!
  • #111,085
  • Jan 13, 2009 11:24am Jan 13, 2009 11:24am
Yea im looking for the price to pull in after a decent spike. I might not get as good as position as the 4500 crowd, but with all the long term profit potential for this bias.. not an issue
USD Est Non Mortuus
  • #111,086
  • Jan 13, 2009 11:25am Jan 13, 2009 11:25am
Quoting LuckyLurker
Yea im looking for the price to pull in after a decent spike. I might not get as good as position as the 4500 crowd, but with all the long term profit potential for this bias.. not an issue
No worries, you'll find the seat that fits you just fine!
Just digging in the trenches like everyone else!
  • #111,087
  • Jan 13, 2009 11:26am Jan 13, 2009 11:26am
Quoting eohater
We will find out. I agree with Galation, we will retest this area. Keep an eye on it. Either keep your SL below 4470 or secure your position and watch PA for a new entry.
yeah defo position secured for +1 if 4500 is broken then i see it down to 4350
  • #111,088
  • Jan 13, 2009 11:26am Jan 13, 2009 11:26am
Quoting eohater
I'm in that boat with you at 4515
don't close my SL @4560 (short @4602) !!!
  • #111,089
  • Jan 13, 2009 11:28am Jan 13, 2009 11:28am
Quoting fifo
don't close my SL @4560 (short @4602) !!!
Gobble Gobble! I'm coming after it and more! Once SL Triggers start getting hit, this bitch could fly like a rocket. With such a slow creep down, people have been moving their SL accordingly.

She's not going anywhere just yet, so don't fret. Your covered in the green.
Just digging in the trenches like everyone else!
  • #111,090
  • Jan 13, 2009 11:30am Jan 13, 2009 11:30am
yeh a bullish 15min candle how rare lol
  • #111,091
  • Jan 13, 2009 11:31am Jan 13, 2009 11:31am
Quoting eohater
Gobble Gobble! I'm coming after it and more! Once SL Triggers start getting hit, this bitch could fly like a rocket. With such a slow creep down, people have been moving their SL accordingly.

She's not going anywhere just yet, so don't fret. Your covered in the green.
i moved my TP @4510 so... SL or TP

edit: lost my patience - closed manualy @4531... family time.

many pips for all !
  • #111,092
  • Jan 13, 2009 11:38am Jan 13, 2009 11:38am
Quoting eohater
We will find out. I agree with Galation, we will retest this area. Keep an eye on it. Either keep your SL below 4470 or secure your position and watch PA for a new entry.
I have been follow those MAS : 144,169. in 15 M for a safe entry it has to be after 4556....one quetions PA means candle pattern??
  • #111,093
  • Jan 13, 2009 11:38am Jan 13, 2009 11:38am
I out for now.Hope all you guys get paid.
  • #111,094
  • Jan 13, 2009 11:52am Jan 13, 2009 11:52am
Wish I knew what Joe the Plumber thought

It's an uncanny slow slide - makes me feel edgy

Its not meant to be this easy to do shorts..

I am out and getting ready for....what !

It needs to thrash about a bit before we get a clue
  • #111,095
  • Jan 13, 2009 11:55am Jan 13, 2009 11:55am
1.4488 Strong level
The bearish scenario is consolidated but we could see a temporal change of direction to adjust the downtrend.
  • #111,096
  • Jan 13, 2009 11:58am Jan 13, 2009 11:58am
Quoting allserene
Wish I knew what Joe the Plumber thought

It's an uncanny slow slide - makes me feel edgy

Its not meant to be this easy to do shorts..

I am out and getting ready for....what !

It needs to thrash about a bit before we get a clue
There isn't much to say about it at the moment to be honest. I think it will go down to test 1.45 again. When it bounced off 1.4503 just before, it was a hard bounce: there were a lot of buy limit orders being executed at that level. If it goes down to re-test it again, as I believe it will, there will be less of these limit order in place. There may be a bounce, but not as strong. If it does hover around the 1.4500 mark for a while, more often than not, it will break through and go down.
Probability Professor
  • #111,097
  • Jan 13, 2009 12:04pm Jan 13, 2009 12:04pm
Quoting Galation
There isn't much to say about it at the moment to be honest. I think it will go down to test 1.45 again. When it bounced off 1.4503 just before, it was a hard bounce: there were a lot of buy limit orders being executed at that level. If it goes down to re-test it again, as I believe it will, there will be less of these limit order in place. There may be a bounce, but not as strong. If it does hover around the 1.4500 mark for a while, more often than not, it will break through and go down.
the 1 hour chart just looks so weird..

I look back at all the action before this 'dying swan' thing and there is all the price action chopping up and down and then we go all 'droopy drawers' and it's just un-natural

I could see 1.4350, but until some normal volatility comes back, I have nothing to work on and could be taken by surprise

So I am eating a banana sandwich and tickling the cat and just... waiting
  • #111,098
  • Jan 13, 2009 12:06pm Jan 13, 2009 12:06pm
hi

take care from long .... daily candle is very bearish

we can see more deeps ... as i said in morning 1.4352 is my first target still short from 1.5100 when i got the signal on daily chart


if we talk about retracement it goes up ... but if i fall below 1.4520 again i think it will go down again
  • #111,099
  • Jan 13, 2009 12:10pm Jan 13, 2009 12:10pm
Quoting allserene
the 1 hour chart just looks so weird..

I look back at all the action before this 'dying swan' thing and there is all the price action chopping up and down and then we go all 'droopy drawers' and it's just un-natural

I could see 1.4350, but until some normal volatility comes back, I have nothing to work on and could be taken by surprise

So I am eating a banana sandwich and tickling the cat and just... waiting
Ha! That put a smile on my face. Here is the 1h you speak of. You know how it works. The less volatility there is, over an extended period of time, means a bigger and more ferocious breakout. People place limit orders on the other side of support and resistance levels. The longer the price just trickles along, the more of these limit orders will be placed at these support and resistance levels.
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Probability Professor
  • #111,100
  • Jan 13, 2009 12:13pm Jan 13, 2009 12:13pm
Quoting eohater
Gobble Gobble! I'm coming after it and more! Once SL Triggers start getting hit, this bitch could fly like a rocket. With such a slow creep down, people have been moving their SL accordingly.

She's not going anywhere just yet, so don't fret. Your covered in the green.

Im curious.... what time frame you usually trade?
It seems like the longer time frames like 1 HR and 4HR give clearer directional signals but you have to use much wider Stop Loss and Trailing Stop right?

Anyone here use the 1HR or 4HR exclusively??
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