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Cable Update (GBPUSD)

  • #117,561
  • Feb 3, 2009 5:10pm Feb 3, 2009 5:10pm
Quoting eohater
I'm wishing I had put 2 more on this. I only put 6 on her, wishing I had 8, maybe 10. That would make for an extra sweet ride!!!

But, let's not count our chickens before they hatch. We have a shitload of traffic that needs to be cleared to get down. ATM, I could be closed out for +2, scratching my head saying WTF.
H1 is showing weakness (possible doube top) but the daily looks bullish. I am short myself from 4470 but I have already taken profit on half and covered the rest. This next h4 close the will set the tone for the next hours I think...

My mind is set on 4300 atm...
Patience + Discipline - Greed = Success
  • #117,562
  • Feb 3, 2009 5:10pm Feb 3, 2009 5:10pm
Quoting nAVIN2007
.....
Strong chart Nav . . Are you bullish ?
  • #117,563
  • Feb 3, 2009 5:17pm Feb 3, 2009 5:17pm
Quoting PipLand
Hindsight eh!! lol

Yeah theres tons of traffic for sure! Should be interesting, i'll be dissapointed if we dont get down to 4300 but not surprised
yes hindsight.though at the time even 2 lots seemed crazy.
  • #117,564
  • Feb 3, 2009 5:17pm Feb 3, 2009 5:17pm
Quoting eohater
Thanks bro for the compliment! I didn't ride her for all she was worth today bro! I didn't ride the massive upswing.

Experience is how I learned. I wish I had someone teach me, but not the case. Just from experience of how she moves. Prior to being an intraday trader, I only traded off of 4h candles. I will give MAJOR PROPS to my brother Infinity who helped me with my transition to intraday trading.
All for one, one for all brother....
Patience + Discipline - Greed = Success
  • #117,565
  • Feb 3, 2009 5:22pm Feb 3, 2009 5:22pm
Quoting Infinity
H1 is showing weakness (possible doube top) but the daily looks bullish. I am short myself from 4470 but I have already taken profit on half and covered the rest. This next h4 close the will set the tone for the next hours I think...

My mind is set on 4300 atm...
Strong trade, what made you go short from there if you don't mind me asking ? All I see is a Hanging Man on the 5min at a swing high, I presume you had ema confirmation of some sort ?

EDIT: Trendline maybe ? (I don't use them at all . . . )

Also, if I may be ever so bold as to ask you a question - do you consider the first time back kiss to an ema to be stronger than subsequent kisses ?

Quoting eohater
I will give MAJOR PROPS to my brother Infinity who helped me with my transition to intraday trading.
Experience - the best teacher of them all, especially in this forex game . . . And Infinity I guess lol
  • #117,566
  • Feb 3, 2009 5:24pm Feb 3, 2009 5:24pm
Depending on the price action at the time; I may short at 1.4500. Lots of things pointing towards at least a temporary drop.
Attached Image(s) (click to enlarge)
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Probability Professor
  • #117,567
  • Feb 3, 2009 5:47pm Feb 3, 2009 5:47pm
Quoting Infinity
H1 is showing weakness (possible doube top) but the daily looks bullish. I am short myself from 4470 but I have already taken profit on half and covered the rest. This next h4 close the will set the tone for the next hours I think...

My mind is set on 4300 atm...
I reckon it looks to be shaping up nice for shorts 4300 is what im targeting as well, fingers crossed
  • #117,568
  • Feb 3, 2009 5:47pm Feb 3, 2009 5:47pm
Quoting Infinity
All for one, one for all brother....
  • #117,569
  • Feb 3, 2009 6:05pm Feb 3, 2009 6:05pm
Quoting jack.canadia
it's not gambling if you have good money management .. this is a prime area to short! ask a professional, he will tell youu . . .


Bro Im not short right now. not even considering it.
  • #117,570
  • Feb 3, 2009 6:12pm Feb 3, 2009 6:12pm
Does anyone think there is a poissibility of this thing seeing 1.4200 or lower?

These numbers have been seen very recently.....
Superbowl Sunday night this thing opened at 1.4468 and fell clear to the 1.4052 could we get there again?

Michelle
  • #117,571
  • Feb 3, 2009 6:13pm Feb 3, 2009 6:13pm
Here is how i screwed up the move early NY session and made a whopping 10 pips on a 150 pip move.

This is an old school pattern on the 5m charts....it is my bread and butter set up - trust this pattern and trade it. It will make u a lot of $$$$$$.

What messed me up today was that the pull backs took way to long to develope (usually around 15 mins., today 30 mins.)

Have not seen this pattern for about 2 weeks, normally i would have raked it for 250 or 300 pips by adding trades on the pull backs.

I think i have posted the rules for this pattern....if anyone is interested i will post them again
Attached Image (click to enlarge)
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  • #117,572
  • Feb 3, 2009 6:13pm Feb 3, 2009 6:13pm
Can someone post a decent support and resistance indicator please
  • #117,573
  • Feb 3, 2009 6:20pm Feb 3, 2009 6:20pm
Just look at your charts. Orange lines resistance green support. Dont get cought up in fansy indicators that dont mean squat.
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  • #117,574
  • Feb 3, 2009 6:21pm Feb 3, 2009 6:21pm
Quoting Shilva
I think i have posted the rules for this pattern....if anyone is interested i will post them again
Hi Shilva

Any decent setup documentation I'd gladly accept.

Thanks
  • #117,575
  • Feb 3, 2009 6:22pm Feb 3, 2009 6:22pm
Quoting Shilva
Here is how i screwed up the move early NY session and made a whopping 10 pips on a 150 pip move.

This is an old school pattern on the 5m charts....it is my bread and butter set up - trust this pattern and trade it. It will make u a lot of $$$$$$.

What messed me up today was that the pull backs took way to long to develope (usually around 15 mins., today 30 mins.)

Have not seen this pattern for about 2 weeks, normally i would have raked it for 250 or 300 pips by adding trades on the pull backs.

I think i have posted the...
would you post your rules adain? and what ma's do you use?
  • #117,576
  • Feb 3, 2009 6:42pm Feb 3, 2009 6:42pm
If you're short, lock in some profits .. I have moved mine right above wave 3 here on my 5-min at the daily M3 pivot .. If wave 3 is taken out then we can expect a range into the London open .. Also, the 5-ema looks as if it may cross below the 8-sma on the hourly, bearish enough in itself...Also, a possible doji on the 4-hr chart and over bought daily stochastics

Good luck

One more note ... wave 2-3 was 50% of wave 1-2, enough for me to short...this was what I was looking for but I went ahead and shorted blindly earlier today ... Usually at such a strong resistance, or support, Iu enter on a 38.2 to 50% retreacement of the first move off of a major level (i.e. 50% of wave 1-2), and in this case it occurred so those of you short could get some decent pips if you choose reasonable targets .. Any higher highs and higher lows being formed should signal an exit for you
Attached Image (click to enlarge)
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  • #117,577
  • Feb 3, 2009 6:49pm Feb 3, 2009 6:49pm
Quoting steelhead
Just look at your charts. Orange lines resistance green support. Dont get cought up in fansy indicators that dont mean squat.
Thanks
  • #117,578
  • Feb 3, 2009 6:50pm Feb 3, 2009 6:50pm
Short the GBP. Looking for support in the 1.43700 range, or 60 SMA support on the 15-min (whichever comes first).
  • #117,579
  • Feb 3, 2009 6:51pm Feb 3, 2009 6:51pm
Quoting primasoldi
Short the GBP. Looking for support in the 1.43700 range.
15 minute 55-EMA in that area? I see it on mine .. This is another short opportunity on a break of this as well
  • #117,580
  • Feb 3, 2009 6:53pm Feb 3, 2009 6:53pm
Quoting Shilva
Here is how i screwed up the move early NY session and made a whopping 10 pips on a 150 pip move.

This is an old school pattern on the 5m charts....it is my bread and butter set up - trust this pattern and trade it. It will make u a lot of $$$$$$.

What messed me up today was that the pull backs took way to long to develope (usually around 15 mins., today 30 mins.)

Have not seen this pattern for about 2 weeks, normally i would have raked it for 250 or 300 pips by adding trades on the pull backs.

I think i have posted the...

Yes i would like to see your rules
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