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Cable Update (GBPUSD)

  • #120,101
  • Feb 12, 2009 10:46am Feb 12, 2009 10:46am
Quoting Shilva
5m chart trader here...just caught the bounce off 4200 for long
nice!!
Patience + Discipline - Greed = Success
  • #120,102
  • Feb 12, 2009 10:47am Feb 12, 2009 10:47am
Quoting Shilva
5m chart trader here...just caught the bounce off 4200 for long
and closed it for +65...nice scalp
  • #120,103
  • Feb 12, 2009 10:49am Feb 12, 2009 10:49am
Quoting Shilva
5m chart trader here...just caught the bounce off 4200 for long
Let me assume: you figured out 4200 is a support level for past 3 hours, which is a pretty good long term timeframe because you are trading in 5 min.
So you jumped on this train.
Am I right? I am still learning.

One more. If it drop to 4200 again, will you repeat?

From the other hand, 4265 is a resistance level for the same time period. Why did not you short from it? - Never mind. I forgot you mentioned wedge on 4H chart.

Thanks in advance.
  • #120,104
  • Feb 12, 2009 10:56am Feb 12, 2009 10:56am
Quoting Komissar
Let me assume: you figured out 4200 is a support level for past 3 hours, which is a pretty good long term timeframe because you are trading in 5 min.
So you jumped on this train.
Am I right? I am still learning.

One more. If it drop to 4200 again, will you repeat?

From the other hand, 4265 is a resistance level for the same time period. Why did not you short from it?

Thanks in advance.
I had a tl drawn on the 5m off the 4135 low and the 4175 low with a buy order set at 4200 waiting for Quicksilver's 3 bounce rule. hehe
  • #120,105
  • Feb 12, 2009 11:02am Feb 12, 2009 11:02am
Quoting Shilva
I had a tl drawn on the 5m off the 4135 low and the 4175 low with a buy order set at 4200 waiting for Quicksilver's 3 bounce rule. hehe
So, if I understand you correctly, next buy order will be above 4210+-.
  • #120,106
  • Feb 12, 2009 11:04am Feb 12, 2009 11:04am
Quoting Shilva
I had a tl drawn on the 5m off the 4135 low and the 4175 low with a buy order set at 4200 waiting for Quicksilver's 3 bounce rule. hehe
I don't look at 5min.chart but you've done very good
  • #120,107
  • Feb 12, 2009 11:18am Feb 12, 2009 11:18am
Shilva, do you mind to explain or refer me the "Quicksilver's 3 bounce rule"?
Thanks
  • #120,108
  • Feb 12, 2009 11:18am Feb 12, 2009 11:18am
i am still bearish, all my analysis suggest bearish movement while under 1.43.

right now the market is ranging between 4185-4270, once the price breaks 4185 it will drop rapidly first to 4050 and then lower to 3900.
  • #120,109
  • Feb 12, 2009 11:25am Feb 12, 2009 11:25am
Quoting Komissar
Shilva, do you mind to explain or refer me the "Quicksilver's 3 bounce rule"?
Thanks
Draw a tl, any tf, 3rd time it hits it is the charm

I am out for the day, time to party!

Oh yeah...I have been trading the 5m since i started in 02

Watch the higher tf's for levels but the 5m is where the action is for me
  • #120,110
  • Feb 12, 2009 11:29am Feb 12, 2009 11:29am
Quoting Shilva
Draw a tl, any tf, 3rd time it hits it is the charm

I am out for the day, time to party!

Oh yeah...I have been trading the 5m since i started in 02

Watch the higher tf's for levels but the 5m is where the action is for me
Thanks for explanation.

One short question. Does this rule apply to longs only? Or, shorts could be set the same way?

Thanks again, and congrats with good pippage>
  • #120,111
  • Feb 12, 2009 11:33am Feb 12, 2009 11:33am
Quoting Komissar
Thanks for explanation.

One short question. Does this rule apply to longs only? Or, shorts could be set the same way?

Thanks again, and congrats with good pippage>


shorts the same way
  • #120,112
  • Feb 12, 2009 11:43am Feb 12, 2009 11:43am
here we go again, more consolidation before another one of those big bangs i suppose. more waiting ...
Thank You
  • #120,113
  • Feb 12, 2009 11:47am Feb 12, 2009 11:47am
m15...
Attached Image
Patience + Discipline - Greed = Success
  • #120,114
  • Feb 12, 2009 12:02pm Feb 12, 2009 12:02pm
is this a bearish flag?
  • #120,115
  • Feb 12, 2009 12:12pm Feb 12, 2009 12:12pm
Quoting Shilva
Draw a tl, any tf, 3rd time it hits it is the charm

I am out for the day, time to party!

Oh yeah...I have been trading the 5m since i started in 02

Watch the higher tf's for levels but the 5m is where the action is for me
Touched the tl for the 4th time and i see going up. is it valid?
  • #120,116
  • Feb 12, 2009 12:12pm Feb 12, 2009 12:12pm
Quoting Chris_35
Seems to me that the whole world is in recession but the UK wants to scream it out from the roof tops to the rest of the world. Thats a funny thing about the UK we are always the first in line to knock ourselves down...
i couldnt agree with u more bro!
  • #120,117
  • Feb 12, 2009 12:44pm Feb 12, 2009 12:44pm
Quoting MuSaB
is this a bearish flag?
yes, it looks like. I'll wait for the break of the lower TL, at close of candle, and pullback.

the current candle could break the channel, in fact it broke in 5, 15m and 30m. i prefer to wait for confirmation in 1h chart to go short.
  • #120,118
  • Feb 12, 2009 1:02pm Feb 12, 2009 1:02pm
Quoting Infinity
m15...
My 15m and 1H closed inside lower TL....one more hour for the close of my 4H to see if it stays with a higher high and higher low...
  • #120,119
  • Feb 12, 2009 1:04pm Feb 12, 2009 1:04pm
Quoting cesarg
yes, it looks like. I'll wait for the break of the lower TL, at close of candle, and pullback.

the current candle could break the channel, in fact it broke in 5, 15m and 30m. i prefer to wait for confirmation in 1h chart to go short.

i think there is time to decide - let's look
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.gif Size: 18 KB
  • #120,120
  • Feb 12, 2009 1:25pm Feb 12, 2009 1:25pm
and this is my daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdd.gif Size: 17 KB
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