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Cable Update (GBPUSD)

  • #118,581
  • Feb 5, 2009 1:58pm Feb 5, 2009 1:58pm
Quoting PipLand
Mine closes in 9 mins now
Would you mind posting it once it's closed?
Just digging in the trenches like everyone else!
  • #118,582
  • Feb 5, 2009 1:59pm Feb 5, 2009 1:59pm
Quoting JammerJams
Never underestimate the Pound...great job laromanell
i would probably consider snuggling up the SL just below 4615 for half the remaing open longs you have...I hope you have a hundred open still...
thanks, now I'm thinking about closing my longs and going short right now, because I gotta leave, I'll put my sl at 1.4717
  • #118,583
  • Feb 5, 2009 2:01pm Feb 5, 2009 2:01pm
my 4hr close
Attached Image (click to enlarge)
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  • #118,584
  • Feb 5, 2009 2:02pm Feb 5, 2009 2:02pm
Quoting eohater
Would you mind posting it once it's closed?
What you reckon? I think it looks nice for a short but weve still got trendline support
  • #118,585
  • Feb 5, 2009 2:05pm Feb 5, 2009 2:05pm
my 1 hours look interesting too
Attached Image (click to enlarge)
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  • #118,586
  • Feb 5, 2009 2:09pm Feb 5, 2009 2:09pm
Nice looking double top, isn't it?
Attached Image (click to enlarge)
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  • #118,587
  • Feb 5, 2009 2:09pm Feb 5, 2009 2:09pm
okay the 4hr candle closed nicely. time to short. sl @ 4710
Thank You
  • #118,588
  • Feb 5, 2009 2:11pm Feb 5, 2009 2:11pm
Quoting JammerJams
hey wormboy...

i dont see a shooting star in the 4 hr...
I do see a larger body and next is a Doji..and then another intersecting body..but still within the limits of the Doji...

I would not count my chickens just yet...not enough volume to do any real damage..its ciesta time!
jj : which pair are you looking at? the GU closed looks like it. Or have I got the name all mixed up?
Thank You
  • #118,589
  • Feb 5, 2009 2:16pm Feb 5, 2009 2:16pm
Quoting PipLand
my 1 hours look interesting too
Hey Pip..

what I see is a very strong tweezer formation and bearish indicators..

what concerns me is that a new consolidation level is forming...so..I will not get in until it breaks below 4617...at least by 20 pips... 4590 entry and exit with +2 BE and TS 20 pips then go for the day
  • #118,590
  • Feb 5, 2009 2:18pm Feb 5, 2009 2:18pm
Quoting PipLand
What you reckon? I think it looks nice for a short but weve still got trendline support
Thanks bro!

Here's my thought on your 4h. I'll start building shorts at 4675 and add upwards.
Just digging in the trenches like everyone else!
  • #118,591
  • Feb 5, 2009 2:20pm Feb 5, 2009 2:20pm
Quoting JammerJams
Hey Pip..

what I see is a very strong tweezer formation and bearish indicators..

what concerns me is that a new consolidation level is forming...so..I will not get in until it breaks below 4617...at least by 20 pips... 4590 entry and exit with +2 BE and TS 20 pips then go for the day

I hear ya, 4610 area is good support, the problem is 4578 area should also be good support so you gotta be careful with a 4590 entry
  • #118,592
  • Feb 5, 2009 2:23pm Feb 5, 2009 2:23pm
jj : this is what I have on my chart. the previous 4hr candle I was talking about is partly hidden by the sma. didn't get by my sma & the bearish candle prompt me to short.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.JPG Size: 110 KB
Thank You
  • #118,593
  • Feb 5, 2009 2:24pm Feb 5, 2009 2:24pm
Quoting PipLand
I hear ya, 4610 area is good support, the problem is 4578 area should also be good support so you gotta be careful with a 4590 entry
Now that is what we call "a sticky whicket!"

then walk around these because the volume is not here to break these levels...4550 > 4480
and the 1hr and 4hr should be in better bearish form.

And I dont like holding open orders...especially with volatile reports around the corner.
  • #118,594
  • Feb 5, 2009 2:25pm Feb 5, 2009 2:25pm
Quoting eohater
Thanks bro!

Here's my thought on your 4h. I'll start building shorts at 4675 and add upwards.

Your welcome!

Nice good to hear it, if my short gets stopped out its at 4660 i'll prob join you and add some up the top if I get time!
  • #118,595
  • Feb 5, 2009 2:27pm Feb 5, 2009 2:27pm
Quoting wormboy
jj : this is what I have on my chart. the previous 4hr candle I was talking about is partly hidden by the sma. didn't get by my sma & the bearish candle prompt me to short.
hmm interesting. I have the same 4h candle and am looking to sell but that gives me pause for thought. I have a parelle channel on my 1h just above our current one which I could see us moving into tomorrow, up to around 149/150 possibly
  • #118,596
  • Feb 5, 2009 2:41pm Feb 5, 2009 2:41pm
ezo : what made you paused? Care to share? I have entered short, but it'll help if I did miss anything. I have a trendline drawn across since December 17th, and the highest I'd take gu going up is around 1.4850. Breach that & I'm running with the bulls But, hopefully I needn't do that since I'm already in short.
Thank You
  • #118,597
  • Feb 5, 2009 2:41pm Feb 5, 2009 2:41pm
i been away the whole day.was surprised to is a rate cut and cable move up..looks like my target may have been good after all

one thing i will say is it looks like the charts play out....weekly piercing formation worked!!!!

hope u all made pips..
  • #118,598
  • Feb 5, 2009 2:48pm Feb 5, 2009 2:48pm
Here's another thought on where we're going. Our daily close is not going to be a bearish close. I wouldn't be surprised to see her spike up to 478x, not right away, but sometimes tomorrow. Might be in the London Session, might be tomorrow's US Session. Should we get this spike, it's where the daily 50ema is at. I will short her without much thought to it.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #118,599
  • Feb 5, 2009 2:54pm Feb 5, 2009 2:54pm
Quoting wormboy
ezo : what made you paused? Care to share? I have entered short, but it'll help if I did miss anything. I have a trendline drawn across since December 17th, and the highest I'd take gu going up is around 1.4850. Breach that & I'm running with the bulls But, hopefully I needn't do that since I'm already in short.
certainly nothing you wouldn't have noticed (I have been looking to sell as well), just the fact we seem to be on or just above the MA and resistance line, the apparent support underneath around 1462 and 1458, and the 5sma on my 4h around 1456 are keeping me out of a short right now. I think I'll hang back until tomorrow and look to buy dips up to 1485 or so, unless freaky Friday throws a curveball.
  • #118,600
  • Feb 5, 2009 2:56pm Feb 5, 2009 2:56pm
Quoting eohater
Here's another thought on where we're going. Our daily close is not going to be a bearish close. I wouldn't be surprised to see her spike up to 478x, not right away, but sometimes tomorrow. Might be in the London Session, might be tomorrow's US Session. Should we get this spike, it's where the daily 50ema is at. I will short her without much thought to it.

Trade well!
EO
I feel that we are in a No trade zone....We have to break out on either side in order to make a more probable decision..but to condier a long or short at this time is a toss of a coin.

good luck gents...
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