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Cable Update (GBPUSD)

  • #120,701
  • Feb 16, 2009 6:23pm Feb 16, 2009 6:23pm
50+ pip stop loss is probally bare min. with the way the markets and economies are atm. Anything less and you will be getting stopped out more often than not, only to see it come back your way....
Going to make it big by age 21.
  • #120,702
  • Feb 16, 2009 6:30pm Feb 16, 2009 6:30pm
Yes it is making it difficult to get in at the right time but the payout is nice and big. I havn't made too many trades so it'll take a while to see if it's profitable.
  • #120,703
  • Feb 16, 2009 6:46pm Feb 16, 2009 6:46pm
Here is my analysis for Tuesday's Trading Day. I didn't take any position on Monday as shown on the attached chart. The chart is off the 1 hour, by the way.

Let me know if anyone has any thoughts or comments.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 62 KB
"The trend is your friend, until the end."
  • #120,704
  • Feb 16, 2009 7:12pm Feb 16, 2009 7:12pm
Well... 1.4200....
Always listen to yourself...
  • #120,705
  • Feb 16, 2009 7:15pm Feb 16, 2009 7:15pm
Quoting Inzider
Well... 1.4200....
Always listen to yourself...
Can you explain this "DEAD CAT" system plse.
Originally Posted by Inzider http://www.forexfactory.com/images/buttons/viewpost.gif
Make sens, i'm thinking about a dead cat bounce on my side.
  • #120,706
  • Feb 16, 2009 7:16pm Feb 16, 2009 7:16pm
Yeah very nice entry. Well traded. I should have been paying more attention when it retested the 300 mark.
  • #120,707
  • Feb 16, 2009 7:25pm Feb 16, 2009 7:25pm
Quoting Inzider
Well... 1.4200....
Always listen to yourself...
nice call Inzider
  • #120,708
  • Feb 16, 2009 7:31pm Feb 16, 2009 7:31pm
Quoting at2au
Can you explain this "DEAD CAT" system plse.
Originally Posted by Inzider http://www.forexfactory.com/images/buttons/viewpost.gif
Make sens, i'm thinking about a dead cat bounce on my side.
Large gap filled at around 50% of the gap. Then return downside under the resistance been created before.

-----------------
Right now we got a butterfly pattern on 1h....
--------------
  • #120,709
  • Feb 16, 2009 8:09pm Feb 16, 2009 8:09pm
Good evening gents..

what do we have here..but a retrace to yesterdays entrance level.
we are exactly back to where we started at Monday Morning tokyo market open.

We are also retesting a low point..trend lines have been tested..Stock at over sold levels..

hmmm
CCI is under -100 and so we are looking at a nice retracement up..question is..will this hold...

I see ema trend lines crossing over...making their move on the 1 hour...Getting tighter

If the level does not get to 4165 and starts upward..we are looking at a nice Price Action where our low is higher then the past low. and hopefull...our hight may hit the 61.8% fib of Feb 13th. (1.4430)

Inzider..what do you see...?
  • #120,710
  • Feb 16, 2009 8:13pm Feb 16, 2009 8:13pm
if you think we have a dead cat sticking here..then we are going to sit here for a while until news shakes us loose.
  • #120,711
  • Feb 16, 2009 8:27pm Feb 16, 2009 8:27pm
Quoting JammerJams
Good evening gents..

what do we have here..but a retrace to yesterdays entrance level.
we are exactly back to where we started at Monday Morning tokyo market open.

We are also retesting a low point..trend lines have been tested..Stock at over sold levels..

hmmm
CCI is under -100 and so we are looking at a nice retracement up..question is..will this hold...

I see ema trend lines crossing over...making their move on the 1 hour...Getting tighter

If the level does not get to 4165 and starts upward..we are looking at a nice Price Action where...
Lol for once I agree...Im long at 4185with stop loss at entry now...gonna ride it and see what happens. Targetting 4241, 4254, 4270, 4300 for now
Going to make it big by age 21.
  • #120,712
  • Feb 16, 2009 8:32pm Feb 16, 2009 8:32pm
Quoting dstryr
Lol for once I agree...Im long at 4185with stop loss at entry now...gonna ride it and see what happens. Targetting 4241, 4254, 4270, 4300 for now
Hmmm I'm short at .4189
  • #120,713
  • Feb 16, 2009 8:34pm Feb 16, 2009 8:34pm
Quoting CR_RedFox
Hmmm I'm short at .4189
Stop loss?
Going to make it big by age 21.
  • #120,714
  • Feb 16, 2009 8:39pm Feb 16, 2009 8:39pm
Quoting JammerJams
Good evening gents..

what do we have here..but a retrace to yesterdays entrance level.
we are exactly back to where we started at Monday Morning tokyo market open.

We are also retesting a low point..trend lines have been tested..Stock at over sold levels..

hmmm
CCI is under -100 and so we are looking at a nice retracement up..question is..will this hold...

I see ema trend lines crossing over...making their move on the 1 hour...Getting tighter

If the level does not get to 4165 and starts upward..we are looking at a nice Price Action where...
I agree with you.
but still the dead cat bounce worth a 100Pip move so it was an excellent call
but now the dead cat migth be alive so we migth see a rally back up.
The price stop at 4200 just a bit higher of the low that = higher swing low from previous low = bullish bias for now....

  • #120,715
  • Edited 8:54pm Feb 16, 2009 8:41pm | Edited 8:54pm
Thx for asking mister Jammer!

Until London i don't think we'll drop under 1.4180, even reaching for 1.4233 easily then 1.4255.
No one will commits itselfs, under 80.

Starting from there i will look at futures, usd index, gold, and other pairs to see the pace.

On larger view: we got a limit on the downside at 1.4136/1.4077/1.3980/50, upside will be limited by 1.4350/1.4560.

Behind all that technical, i think that whit all the bad news lately, Geithner making funny statements, the sunday gap... view is clearly bearish and only holyday of usa Equity have save us from the drop we are all waiting for.

What i'm going to do is being careful about little spooky move of London before the real drop.

Nice analysis on you side too, exchange like this is the perfect match for retailer like us.

Soon!
INz

------------

Notice butterfly pattern on 1h. M abcd = buy at d / 78.6% of last move was is at 1.4189
  • #120,716
  • Edited 9:01pm Feb 16, 2009 8:42pm | Edited 9:01pm
Quoting dstryr
Stop loss?
30 pips. Reentered another short at 1.4210 with 10 pip s/l

closed 1 lot at 1.4192, and locked in 8 pips for the remaining lot.

Like your setup a lot more dstryr! Would not surprise me if it ranged between the two prices for at least another 3 hours.
  • #120,717
  • Edited 8:56pm Feb 16, 2009 8:42pm | Edited 8:56pm
During Tokyo session, I think nice long a little bit above 1.4165, nice short a litle bit below 1.4239 ! It means the movement will be in a range 1.4165 - 1.4239. But I don't trade untill London session opening !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #120,718
  • Edited 9:13pm Feb 16, 2009 9:00pm | Edited 9:13pm
When She move again? I miss it from yesterday

only +20 pips for yesterday in Asia.

Move up baby! like your trend line...

or you will drop HLCC Daily?
Quote
http://i40.tinypic.com/2vjviur.jpg

Oke I'm With you @ 4195 with tight SL, My target is 4240 then 4283

will see then
  • #120,719
  • Feb 16, 2009 9:16pm Feb 16, 2009 9:16pm
Quoting dstryr
Lol for once I agree...Im long at 4185with stop loss at entry now...gonna ride it and see what happens. Targetting 4241, 4254, 4270, 4300 for now
Im going to ride this piggy to market =D
Going to make it big by age 21.
  • #120,720
  • Feb 16, 2009 9:21pm Feb 16, 2009 9:21pm
Quoting Inzider
Thx for asking mister Jammer!

Until London i don't think we'll drop under 1.4180, even reaching for 1.4233 easily then 1.4255.
No one will commits itselfs, under 80.
Sometimes i'm wright, sometimes i'm wrong...
44 pips for me...

-------------------
Going to walk the dog before major activity, plz, catch all pips available.
We'll share after, ok?!

Soon all!
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