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Cable Update (GBPUSD)

  • #120,181
  • Feb 13, 2009 2:01am Feb 13, 2009 2:01am
Morning All - woke up early to see that my long G/U had worked it's magic!! - lovely 200 pips. I've finished for the day.
Attached Image

Love and Pips to you all.
  • #120,182
  • Feb 13, 2009 2:02am Feb 13, 2009 2:02am
short 4464
  • #120,183
  • Feb 13, 2009 2:10am Feb 13, 2009 2:10am
Quoting ezodisy
short 4464
TP 100 or 200 pips down?
ROBOT FOREX
  • #120,184
  • Feb 13, 2009 2:11am Feb 13, 2009 2:11am
Quoting alfamichi
befor you go on weekend..pls which way GU?

THANKS
It depends on how you trade mate.
I think it is clear that at the moment cable has a lot of weight moving up, but until it clears 4725, my bias is still down. 4490 - 4575 levels will be critical. Failure to breach these levels will prompt good short signal. But being friday and all, I'll be very careful about making trades unless you're already in one.
I think I'll take this weekend off and not carry it over the weekend as I did last weekend, unless of course the opportunity is ridiculously tempting
Good luck with your pickings alfamichi, and good luck to the rest of you too!
Thank You
  • #120,185
  • Feb 13, 2009 2:13am Feb 13, 2009 2:13am
Quoting Forbes55
TP 100 or 200 pips down?
75 - 100. The 1h 50ema and the 4h 5sma about the same level. However there could be tweezers on the 4h which stopped just at the 62ema
  • #120,186
  • Feb 13, 2009 2:16am Feb 13, 2009 2:16am
price broke through daily r1 at 4408 (which coincides with 1h 5sma) so that might be the limit for this retrace
  • #120,187
  • Feb 13, 2009 2:28am Feb 13, 2009 2:28am
Quoting wormboy
It depends on how you trade mate.
I think it is clear that at the moment cable has a lot of weight moving up, but until it clears 4725, my bias is still down. 4490 - 4575 levels will be critical. Failure to breach these levels will prompt good short signal. But being friday and all, I'll be very careful about making trades unless you're already in one.
I think I'll take this weekend off and not carry it over the weekend as I did last weekend, unless of course the opportunity is ridiculously tempting
Good luck with your pickings alfamichi, and...

Took a risk..went out with plus 30pips

thanks
  • #120,188
  • Feb 13, 2009 2:28am Feb 13, 2009 2:28am
closed at 4418 for 46pips. Short of target but when I saw price touch r1 it seemed a good time to exit.

I am by the way still looking for short entries under 4500
  • #120,189
  • Feb 13, 2009 2:34am Feb 13, 2009 2:34am
I see the making of a nice hanging man candle in 30 min
and forming in the 1hr. Let it finish forming.

this along with other indicators..is my short entrance..
  • #120,190
  • Feb 13, 2009 2:35am Feb 13, 2009 2:35am
Quoting ezodisy
short 4464
Hi ezodisy
Just joined the forum and this is my first post. I'm guessing your trading style might be similar to mine. What was your reasoning behind your latest trade entry @ 4464?
  • #120,191
  • Feb 13, 2009 2:41am Feb 13, 2009 2:41am
Quoting Barny
Hi ezodisy
Just joined the forum and this is my first post. I'm guessing your trading style might be similar to mine. What was your reasoning behind your latest trade entry @ 4464?
my trading style is similar to eohater's who has a fantastic method which has helped everyone on this thread.

I sold there because of the 4h 50/62ema, some general resistance, a potential trendline drawn down from the high just under 150, and the daily 5sma just above at 4500. Seemed like a strong place for me and will be interesting how the 1h closes. I think the 4h needs to come down a bit farther -- it'll usually touch my 5sma (or come very close to it).
  • #120,192
  • Feb 13, 2009 2:52am Feb 13, 2009 2:52am
tired of waiting for strong down this pair
ROBOT FOREX
  • #120,193
  • Feb 13, 2009 2:53am Feb 13, 2009 2:53am
Quoting wormboy
It depends on how you trade mate.
I think it is clear that at the moment cable has a lot of weight moving up, but until it clears 4725, my bias is still down. 4490 - 4575 levels will be critical. Failure to breach these levels will prompt good short signal. But being friday and all, I'll be very careful about making trades unless you're already in one.
I think I'll take this weekend off and not carry it over the weekend as I did last weekend, unless of course the opportunity is ridiculously tempting
Good luck with your pickings alfamichi, and...
Hey wormboy...

the 1.4772 is the downward moving trendline for the DAILY..is that your indicator for bias. Unless it crosses..we are in a downward movement...
I see it that way if so.

Well..if it does stay below these expected resistence highs..Im entering short...and placing nice SL below my entry points..and have a nice weekend.
  • #120,194
  • Feb 13, 2009 3:01am Feb 13, 2009 3:01am
[quote=ezodisy;2536936]my trading style is similar to eohater's who has a fantastic method which has helped everyone on this thread.

Nice reply. Good detail. Similar Ma's. I use 32 & 64. Somethings that worried me as it retraced was 2 things: firstly it hit the 382 ret and a fib fan off the 1.4469 recent high and secondly I have found it common for a change in directio 20 minutes or so after the UK open so I took some short term profits. (Volatile first 30 mins)!
  • #120,195
  • Feb 13, 2009 3:03am Feb 13, 2009 3:03am
Hanging man bouncing off my sma @ 4470 ... drop?
Thank You
  • #120,196
  • Feb 13, 2009 3:03am Feb 13, 2009 3:03am
Quoting JammerJams
Hey wormboy...

the 1.4772 is the downward moving trendline for the DAILY..is that your indicator for bias. Unless it crosses..we are in a downward movement...
I see it that way if so.

Well..if it does stay below these expected resistence highs..Im entering short...and placing nice SL below my entry points..and have a nice weekend.
Hello JammersJams,

And what will be your target?
  • #120,197
  • Feb 13, 2009 3:08am Feb 13, 2009 3:08am
Quoting minardan
Hello JammersJams,

And what will be your target?
some 6 hours ago it was bullish once it crossed the downtrend for the 1 hr.
the indicators all pointed upward at that time..
but for now..I am going to sit and watch the fireworks..and wait for a nice entry..and drink my coffee and let it do its majic..no hurry..a trade will emerge
  • #120,198
  • Feb 13, 2009 3:09am Feb 13, 2009 3:09am
Quoting Barny
Nice reply. Good detail. Similar Ma's. I use 32 & 64. Somethings that worried me as it retraced was 2 things: firstly it hit the 382 ret and a fib fan off the 1.4469 recent high and secondly I have found it common for a change in directio 20 minutes or so after the UK open so I took some short term profits. (Volatile first 30 mins)!
yeah I agree about the change in direction, and sometimes it's clear by how the 7am 1h candle closes. Cheers and I hope you'll keep posting here
  • #120,199
  • Feb 13, 2009 3:11am Feb 13, 2009 3:11am
Can anyone tell me how I can get this forum threads to refresh automatically on my desktop. Currently I just go back one then forward to the latest
  • #120,200
  • Feb 13, 2009 3:11am Feb 13, 2009 3:11am
Quoting JammerJams
some 6 hours ago it was bullish once it crossed the downtrend for the 1 hr.
the indicators all pointed upward at that time..
but for now..I am going to sit and watch the fireworks..and wait for a nice entry..and drink my coffee and let it do its majic..no hurry..a trade will emerge
Where shall be your target?
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