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Cable Update (GBPUSD)

  • #113,161
  • Jan 20, 2009 9:29am Jan 20, 2009 9:29am
Quoting Infinity
Now this is why I asked about the stop loss... I have a high of 3987 just now, but some people that may follow your post could have gotten a filled because of their broker's feed. When would you advise them to exit the trade if they got filled just now...?

Infinity my man thats just not an area i would consider taking a long. Not saying you were just saying that about guate entry orders.

You are right though it could have just hit that area and then gone back down.
  • #113,162
  • Jan 20, 2009 9:30am Jan 20, 2009 9:30am
I like his thread a lot too as he is very good. But the way BRV trades a bucket bounce is at the top of the fluff before entry into the bucket. In other words the 14800 level on the monthly scale so that was tested on 16 Nov initially. That level on the monthly is a Support low some of which have not been tested. There's only free space below that...


Quoting 13thheaven
btw, i've been looking BRV's thread for a while...
and i spotted a huge bucket on the monthly chart...
so it's possible that the Cable can retrace upwards from here or from around 3681...
and since it's monthly chart, i think it's gonna be a big retracement...
anyone agree with me?
Ride the Bulls bearback!
  • #113,163
  • Jan 20, 2009 9:33am Jan 20, 2009 9:33am
Quoting SmoothTrader
Sure looks like it wants to test it again. Will it be to break higher, or to say good by as Cable moves lower?
I think it would stay around 1.40 level for a while.
But I think it'll retrace at 1.41 later
  • #113,164
  • Jan 20, 2009 9:34am Jan 20, 2009 9:34am
fair comment steelhead. Each to their own.
  • #113,165
  • Jan 20, 2009 9:36am Jan 20, 2009 9:36am
Head and shoulders finally broke on the Daily. I got in on the 30 Minute rising three method this morning.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jmt h and s daily breakout.gif Size: 23 KB
Click to Enlarge Name: jmt hs 30 min entry after rising three.gif Size: 25 KB
  • #113,166
  • Jan 20, 2009 9:45am Jan 20, 2009 9:45am
Eur 30 pips off its low. Cable 125 pips off its low. Good short covering. Will it break through 1.40?
  • #113,167
  • Jan 20, 2009 9:53am Jan 20, 2009 9:53am
Is that a Bear Flag on the 5m TF? I guess only time and PA will tell.
  • #113,168
  • Jan 20, 2009 9:53am Jan 20, 2009 9:53am
Quoting SmoothTrader
Eur 30 pips off its low. Cable 125 pips off its low. Good short covering. Will it break through 1.40?
eu looks all set to go down another 350 pips or so.. how far will it take cable?
1.29 breaks....
Patience + Discipline - Greed = Success
  • #113,169
  • Jan 20, 2009 9:55am Jan 20, 2009 9:55am
Quoting Infinity
eu looks all set to go down another 350 pips or so.. how far will it take cable?
1.29 breaks....
As your signature says patience will reveal all to those that wait.
  • #113,170
  • Jan 20, 2009 10:02am Jan 20, 2009 10:02am
Quoting SmoothTrader
As your signature says patience will reveal all to those that wait.
Precisely..... that is why I am waiting to see which way the market want's to go after this... I find it very difficult to place a sell here as we at major support now.. but based on PA, I don't feel like placing a long yet either... My h4 just closed as a bullish hammer... so I will wait to see what happens at a retest of the lows..
Patience + Discipline - Greed = Success
  • #113,171
  • Jan 20, 2009 10:12am Jan 20, 2009 10:12am
bon Jovi punters !

1.5 hours to live under the bush then we are safe and so are the fishes who can cohabit in peace with us

got stopped out overnight

I lost 30% of my account week before last, made it all back and lost it again

Still, 30% ain't bad = better than 100% and I will top it up again

I / we are crazy because one of the cardinal rules is not to trade when its insanely choppy

We cant help it - we trade and we got stopped

sometimes it works and we make huge wodges of cash and so we try again


All in all I am lucky and my wad isn't dented so badly and I am in fine shape to start making super money once we settle down to a recognizable direction that last more than 24 hours
  • #113,172
  • Jan 20, 2009 10:15am Jan 20, 2009 10:15am
Quoting Infinity
Precisely..... that is why I am waiting to see which way the market want's to go after this... I find it very difficult to place a sell here as we at major support now.. but based on PA, I don't feel like placing a long yet either... My h4 just closed as a bullish hammer... so I will wait to see what happens at a retest of the lows..
Here is my Buy Entry Limit. My 4 HR just closed as a PB. Are the bulls ready to run? I wish that the nose of that PB was longer but this is a fairly low risk trade with much upside potential. I am liable to place another order at that 1.3875 level if the PB doesn't break before that happens. This is trading, let er' rip!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 50 KB
  • #113,173
  • Jan 20, 2009 10:20am Jan 20, 2009 10:20am
It’s looking good for a bull’s reborn
  • #113,174
  • Jan 20, 2009 10:25am Jan 20, 2009 10:25am
The closer we get to an Obama regime the more the Dow falls. Not a good sign.
Hi, my name is Barry and you can keep your doctor...
  • #113,175
  • Jan 20, 2009 10:27am Jan 20, 2009 10:27am
seems to have run out of people willing to sell here, but there arnt many buyers either. If it goes further up i think we will see a lot more selling pressure.
  • #113,176
  • Jan 20, 2009 10:37am Jan 20, 2009 10:37am
Quoting Infinity
Precisely..... that is why I am waiting to see which way the market want's to go after this... I find it very difficult to place a sell here as we at major support now.. but based on PA, I don't feel like placing a long yet either... My h4 just closed as a bullish hammer... so I will wait to see what happens at a retest of the lows..
That makes me feel good about my long at 3950. I rode her down off the 15m 30, then went back long on her ass. Let's see how this plays out. I would imagine sellers around 1.404x (15m 50ema).
Just digging in the trenches like everyone else!
  • #113,177
  • Jan 20, 2009 10:45am Jan 20, 2009 10:45am
Quoting KissFan
Here is my Buy Entry Limit. My 4 HR just closed as a PB. Are the bulls ready to run? I wish that the nose of that PB was longer but this is a fairly low risk trade with much upside potential. I am liable to place another order at that 1.3875 level if the PB doesn't break before that happens. This is trading, let er' rip!
Sounds good bro...!

We are nearing the top of this downtrend channel with the m15 50s not too far above.....
Attached Image (click to enlarge)
Click to Enlarge Name: m15.gif Size: 23 KB
Patience + Discipline - Greed = Success
  • #113,178
  • Jan 20, 2009 10:46am Jan 20, 2009 10:46am
Quoting Infinity
Sounds good bro...!

We are nearing the top of this downtrend channel with the m15 50s not too far above.....
I'll be watching that bounce. My SL is green, I would expect 398x to hold if we're truely going to go back upward.
Just digging in the trenches like everyone else!
  • #113,179
  • Jan 20, 2009 10:48am Jan 20, 2009 10:48am
Quoting eohater
That makes me feel good about my long at 3950. I rode her down off the 15m 30, then went back long on her ass. Let's see how this plays out. I would imagine sellers around 1.404x (15m 50ema).
Great job bro!! I have been doing a few short scalps myself... not in anything now though...
Patience + Discipline - Greed = Success
  • #113,180
  • Jan 20, 2009 10:52am Jan 20, 2009 10:52am
Looks like my longs are doing just fine from 1.3900
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