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Cable Update (GBPUSD)

  • #122,521
  • Feb 22, 2009 8:17pm Feb 22, 2009 8:17pm
Quoting doughnut
risky
I was just filled at 4512. Stop 4532.
  • #122,522
  • Feb 22, 2009 8:21pm Feb 22, 2009 8:21pm
Quoting jack.canadia
I was just filled at 4512. Stop 4532.
May the force be with you lol im long from .4376 up 146 pips going for 50 more
Trade less make more!
  • #122,523
  • Feb 22, 2009 8:24pm Feb 22, 2009 8:24pm
Quoting jack.canadia
Yess looking for a short at the current level!
I would say close to now.. around 4550 level...

high Feb 13...
  • #122,524
  • Feb 22, 2009 8:26pm Feb 22, 2009 8:26pm
Quoting JammerJams
I would say close to now.. around 4550 level...

high Feb 13...
I was stopped -20. Now at the 50 level I am looking to short again.
  • #122,525
  • Feb 22, 2009 8:27pm Feb 22, 2009 8:27pm
A nice gap down to trip out all of the longs, and a grand spike to trip out all of the shorts....

What goes up, must come down.

Waiting on 5 min for short cycle now.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122,526
  • Feb 22, 2009 8:28pm Feb 22, 2009 8:28pm
Quoting doughnut
risky

the up move was very impulsive ....

high volume up move .. market does not like it 99% of the time. I typically will sell these kind of moves when most are still buying in

pros sell into strength

we just tested sophia's 1.4555 level and I closed out ... waiting now
Blogging daily now at www.volume.zone
  • #122,527
  • Feb 22, 2009 8:28pm Feb 22, 2009 8:28pm
Quoting JammerJams
I would say close to now.. around 4550 level...

high Feb 13...
Got tight stops dont like to get out to early
Trade less make more!
  • #122,528
  • Feb 22, 2009 8:29pm Feb 22, 2009 8:29pm
Quoting Magix
A nice gap down to trip out all of the longs, and a grand spike to trip out all of the shorts....

What goes up, must come down.

Waiting on 5 min for short cycle now.
1 minute MACD bearish divergence at the 50 level is enough for me. This resembled the last time we peaked. Bounce off resistance, higher high plus divergence to the downside.

Any ideas for a target once the trigger is pulled?
  • #122,529
  • Feb 22, 2009 8:31pm Feb 22, 2009 8:31pm
I say we get one more run
Trade less make more!
  • #122,530
  • Feb 22, 2009 8:32pm Feb 22, 2009 8:32pm
Quoting jack.canadia
1 minute MACD bearish divergence at the 50 level is enough for me. This resembled the last time we peaked. Bounce off resistance, higher high plus divergence to the downside.

Any ideas for a target once the trigger is pulled?

If we were in confirmed short cycle now, I would say 1.4472 area, first trip line on the 5m chart.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122,531
  • Feb 22, 2009 8:33pm Feb 22, 2009 8:33pm
Quoting jack.canadia
I was stopped -20. Now at the 50 level I am looking to short again.

this move not done

we had high volume up move ... sellers hit the strength ...

then we had a little dip when this happened ... then up to 1.4555 ....now hovering right there with no selling interest
Blogging daily now at www.volume.zone
  • #122,532
  • Feb 22, 2009 8:35pm Feb 22, 2009 8:35pm
1.4540 = 50% of 4990-4100

plus daily R1 and prior resistance zone. Maybe one more small move up before we head back down.
  • #122,533
  • Feb 22, 2009 8:37pm Feb 22, 2009 8:37pm
This may seem an odd statement, but as of now, I see short cycle in, but top not necessarily called. Confirmation still waiting for close below 1.4523 and hold for the 5m.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122,534
  • Feb 22, 2009 8:38pm Feb 22, 2009 8:38pm
rsx has gone flat and could turn up after profit taking / sellers at old highs

gj right on wires at 135.2 could break to 136 if GU break here


the upper value area is 1.4500 (top of the 70% ile of volume for session), above this buy dips only , below this back into range

the moving averages on the 5 min are bull stack .....with the 14 wma at 1.4505.... I would not be hitting sells till a 5 min close under that

A break / rest in the up move at old highs is to be expected . I think this breaks higher yet as sellers seem absent form the market according to price action . We need to see decent volume coming in to push thru that 1.4555 range.

to clarify I am a day trader .... rubbish at buying and holding for anything more than 5 hours lol



Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #122,535
  • Feb 22, 2009 8:38pm Feb 22, 2009 8:38pm
Quoting malcolmb14
this move not done

we had high volume up move ... sellers hit the strength ...

then we had a little dip when this happened ... then up to 1.4555 ....now hovering right there with no selling interest
agree still holding with tight stops
Trade less make more!
  • #122,536
  • Feb 22, 2009 8:40pm Feb 22, 2009 8:40pm
still holding my short as of 4506....she setting up nicely...

maybe I'll do some paragliding on the way down
  • #122,537
  • Feb 22, 2009 8:41pm Feb 22, 2009 8:41pm
Quoting joemiami
still holding my short as of 4506....she setting up nicely...

maybe I'll do some paragliding on the way down
Have a target in mind?
  • #122,538
  • Feb 22, 2009 8:43pm Feb 22, 2009 8:43pm
Quoting joemiami
still holding my short as of 4506....she setting up nicely...

maybe I'll do some paragliding on the way down

keep the stop in .. that low volume down candle confirms no sellers in the market

we should be seeing more of a downward reaction to the impulsive up move if there are pros selling into the strength up here

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #122,539
  • Feb 22, 2009 8:45pm Feb 22, 2009 8:45pm
Quoting jack.canadia
Have a target in mind?
4300 area for now.....
  • #122,540
  • Feb 22, 2009 8:46pm Feb 22, 2009 8:46pm
Quoting malcolmb14
rsx has gone flat and could turn up after profit taking / sellers at old highs

gj right on wires at 135.2 could break to 136 if GU break here


the upper value area is 1.4500 (top of the 70% ile of volume for session), above this buy dips only , below this back into range

the moving averages on the 5 min are bull stack .....with the 14 wma at 1.4505.... I would not be hitting sells till a 5 min close under that

A break...

nice pic, i like it a lot... chart like a canvast
can you share the indicator?
thanks
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