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Cable Update (GBPUSD)

  • #115,881
  • Jan 28, 2009 3:44pm Jan 28, 2009 3:44pm
Here's my 4h chart to support the trade off the 15m 50ema. Notice the red trendline? We spiked above it, the last 4h candle was bearish and came back under it, this current 4h candle, which is 45 min old on my chart, is headed back. As well, we have the 5sma, red ma, which conincides with the trade. Two ways to take the trade, 1 is a pending short at the price .of the 15m 50ema, or two, wait for the candles to close. I like it when the candle actually goes through it, closes with a little wick and go back against the grain of where she came. Classic setup of mine. SL is around 35pips for this. If she doesn't clear the 15m 50ema when you go against the grain, cover your position right away, or go back with the grain with SL around the 15m 21
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Just digging in the trenches like everyone else!
  • #115,882
  • Jan 28, 2009 3:45pm Jan 28, 2009 3:45pm
Quoting eohater
Thanks brother! I asked my mom last weekend if she had a jamacian son that she never told me about, she paused and then changed the conversation. I think there may be something there.


Quoting eohater
Yes, I am, I'll post a chart on the 4h which will also support the trade. The trade off the 15m 50ema is one of mine and Infinity's favorite trades.
Patience + Discipline - Greed = Success
  • #115,883
  • Jan 28, 2009 3:46pm Jan 28, 2009 3:46pm
Quoting cisco
Being from the same area as you...I feel your pain! (he said while sipping iced tea in 80 degree weather)
as I sip my 80 degree coffee seaking warmth.
Just digging in the trenches like everyone else!
  • #115,884
  • Jan 28, 2009 3:46pm Jan 28, 2009 3:46pm
Quoting sofia101
I am long from 1.4190 for scalp
Hi Sofia, what trigure did you see for this good early call. Interested in what you saw at the time.
cheers
Target 2 : Stoploss in the green
  • #115,885
  • Jan 28, 2009 3:49pm Jan 28, 2009 3:49pm
Quoting Jigsaw
This question is to EO and Infinity (And whoever else wants to answer)

I don't use ema's much myself, but do you think the "first time back" after breaking through the ema . . . has more strength to it than the subsequent kisses. ?

Also, do you enter on the kiss or wait for PA ?
Depends on what the market is doing. PA is always the answer, but if we are in a trending market, not ranging, then I don't have a problem taking a position off of a kiss of the 15m 50ema, especially if she hasn't touched it in a while. I weigh the value of my ma's, some I will do this for, others I will not. For example, say we've been ranging tight, she finally breaks and I missed the trade, once she confirms the break, I'll take a position off the 15m 5 price set with a PO adjusting it and watching PA to not get bit in the ass selling the bottom or buying the top.
Just digging in the trenches like everyone else!
  • #115,886
  • Jan 28, 2009 3:50pm Jan 28, 2009 3:50pm
Quoting scalpz
Hi Sofia, what trigure did you see for this good early call. Interested in what you saw at the time.
cheers
I bet you 2pips that its the Hammer on 5Min at the extreme low
  • #115,887
  • Jan 28, 2009 3:52pm Jan 28, 2009 3:52pm
anyone have a daily candle already closed they could post?
Just digging in the trenches like everyone else!
  • #115,888
  • Jan 28, 2009 3:53pm Jan 28, 2009 3:53pm
I just pass to say Hello to everybody!!!
  • #115,889
  • Jan 28, 2009 3:53pm Jan 28, 2009 3:53pm
Quoting eohater
Depends on what the market is doing....
Nice, nice. Strong answer . . Thanks
  • #115,890
  • Jan 28, 2009 3:54pm Jan 28, 2009 3:54pm
Quoting eohater
anyone have a daily candle already closed they could post?
One hour away for me . . .
  • #115,891
  • Jan 28, 2009 3:58pm Jan 28, 2009 3:58pm
im long now i reckon were gonna smash that trendline tomorrow and head towards 4500 - 4600
  • #115,892
  • Jan 28, 2009 4:02pm Jan 28, 2009 4:02pm
Quoting PipLand
im long now i reckon were gonna smash that trendline tomorrow and head towards 4500 - 4600
Why (If you dont mind me asking) ? I can't see anything in favour of longs, apart from that 1HR that I didn't like the close of . . . .
  • #115,893
  • Jan 28, 2009 4:05pm Jan 28, 2009 4:05pm
Quoting PipLand
im long now i reckon were gonna smash that trendline tomorrow and head towards 4500 - 4600
What gives you that idea? I see more sharp declining in the works. :-)
There's always money in the banana stand.
  • #115,894
  • Jan 28, 2009 4:06pm Jan 28, 2009 4:06pm
Quoting PipLand
im long now i reckon were gonna smash that trendline tomorrow and head towards 4500 - 4600
i think at the very least it will hit the test the top..i entered a bad trade, it appears i under estimated the support..the 1hr chart produced a bullish engulfing formation so im in trouble here

in the next hour it likely push cable up and bearish dailly probably go out of the window
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  • #115,895
  • Jan 28, 2009 4:08pm Jan 28, 2009 4:08pm
Quoting LizardGizzard
What gives you that idea? I see more sharp declining in the works. :-)
price is well supported, Without the FOMC news I doubt cable would have even blinked at the last trendline, check out the 4hr candle developing too.

Im locked and loaded ready to ride the rocket!
  • #115,896
  • Jan 28, 2009 4:09pm Jan 28, 2009 4:09pm
Quoting nAVIN2007
i think at the very least it will hit the test the top..i entered a bad trade, it appears i under estimated the support..the 1hr chart produced a bullish engulfing formation so im in trouble here

in the next hour it likely push cable up and bearish dailly probably go out of the window
Your not in trioublle mate youve identified your on the wrong side of the trade so correct it asap if thats your genuine viewn dont sit there and watch it go against you!
  • #115,897
  • Edited 4:11pm Jan 28, 2009 4:10pm | Edited 4:11pm
Quoting nAVIN2007
i think at the very least it will hit the test the top..i entered a bad trade, it appears i under estimated the support..the 1hr chart produced a bullish engulfing formation so im in trouble here

in the next hour it likely push cable up and bearish dailly probably go out of the window

Check out how bullish my 4HR is looking *closes as well as my daily in an hour*

Make or break time .
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  • #115,898
  • Jan 28, 2009 4:10pm Jan 28, 2009 4:10pm
...
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  • #115,899
  • Jan 28, 2009 4:10pm Jan 28, 2009 4:10pm
Hmm, I don't see getting over 4330 before heading south again. Perhaps its just me.
There's always money in the banana stand.
  • #115,900
  • Jan 28, 2009 4:11pm Jan 28, 2009 4:11pm
Quoting eohater
anyone have a daily candle already closed they could post?
I happen to have one. Probably wont' be the only one. But for what it is worth here you go.

Not sure if I've done this right but...
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