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Cable Update (GBPUSD)

  • #136,221
  • Jun 9, 2009 8:31am Jun 9, 2009 8:31am
Quoting jack.canadia
Dont tell me how to enter

I lost 12 pips, im crying .. lol ya right
me too 11pips

lets see how NY coming
Read this guys. Hope it helps

http://www.bloomberg.com/apps/news?p...refer=currency
  • #136,222
  • Jun 9, 2009 8:34am Jun 9, 2009 8:34am
Here's my update on the cable hourly chart. It's very possible that there's still one more wave up towards 1.6330. Also, it coincides with an intraday delta high that someone has posted on another forum. Wait and see.

Hi wormboy, is your downtrend now negated? I'll be interested to have an update on your analysis.

Attached Image (click to enlarge)
Click to Enlarge Name: Cable Hourly 09062009 - 3.jpg Size: 173 KB
  • #136,223
  • Jun 9, 2009 8:35am Jun 9, 2009 8:35am
In this situation my opinion for those not yet entry the market just now...
should be patience around 30M - 1H Next to see the clear confirmation candle at 4H


http://DeryworldscorpOnforex.blogspot.com
  • #136,224
  • Jun 9, 2009 8:40am Jun 9, 2009 8:40am
Quoting deryworlds
In this situation my opinion for those not yet entry the market just now...
should be patience around 30M - 1H Next to see the clear confirmation candle at 4H


http://DeryworldscorpOnforex.blogspot.com
candles take too long to close .. why not enter like 5 pips below/above a level and save yourself from a big SL?
  • #136,225
  • Jun 9, 2009 8:50am Jun 9, 2009 8:50am
Quoting 4cfx
Hi wormboy, is your downtrend now negated? I'll be interested to have an update on your analysis.
Hi buddy, yes all my previous shorts from the top are now invalid, including the last trade which I had short not too long ago. I'll let it run my stops since it only came 16 pips of taking me out. (truth being told the little gambler in me is just "hoping" this would make a sudden u-turn ). No harm done tho, just the gains is a bit lower than it could be if I get stopped out. I won't be doing any buying should that happen, the weekly finish last week still has me looking at further selling when the opportunity arises.
You were spot on with your earlier analysis, good job my friend
Thank You
  • #136,226
  • Jun 9, 2009 8:55am Jun 9, 2009 8:55am
Quoting wormboy
Hi buddy, yes all my previous shorts from the top are now invalid, including the last trade which I had short not too long ago. I'll let it run my stops since it only came 16 pips of taking me out. (truth being told the little gambler in me is just "hoping" this would make a sudden u-turn ). No harm done tho, just the gains is a bit lower than it could be if I get stopped out. I won't be doing any buying should that happen, the weekly finish last week still has me looking at further selling when the opportunity arises.
You were spot on with...
According to my hourly chart, it's still ok to retrace to 6330 before resuming the last wave down. But on the daily, it seems it's complete and ready to launch into wave 5, which will complete the wave C correction of the long term decline before another big decline.

Do you have an updated analysis of where cable may be going?
  • #136,227
  • Jun 9, 2009 9:06am Jun 9, 2009 9:06am
Quoting 4cfx
Do you have an updated analysis of where cable may be going?
Truth being told I have not looked beyond this current level.

This is the latest trade I have & the current stop level : http://www.forexfactory.com/showpost...postcount=1263
The chart illustrates why I have my stop placed there.
I'll keep you posted if there's any change of plans on my part.

have a good one
Attached Image (click to enlarge)
Click to Enlarge Name: gu1vvvvvv.JPG Size: 87 KB
Thank You
  • #136,228
  • Jun 9, 2009 9:15am Jun 9, 2009 9:15am
up up she goessss
  • #136,229
  • Jun 9, 2009 9:16am Jun 9, 2009 9:16am
Spoke too soon, all my positions are now closed. Now I get to prepare for the next setup.
Have a good one & good luck everyone.
Thank You
  • #136,230
  • Jun 9, 2009 9:21am Jun 9, 2009 9:21am
Quoting jack.canadia
up up she goessss
Missed my short entry by 1 pip! get back up there!

Just finished another 300 pip day from high to low .. should have held that long from the daily pivot errr//

6300 may cap for today and if not then 6330

I am shorting 6285 if she makes it back.
  • #136,231
  • Jun 9, 2009 9:26am Jun 9, 2009 9:26am
Quoting wormboy
The chart illustrates why I have my stop placed there.
I'll keep you posted if there's any change of plans on my part.

have a good one
Truth to be told, I don't know how to read your chart! Care to explain it to me?
  • #136,232
  • Jun 9, 2009 9:29am Jun 9, 2009 9:29am
Quoting jack.canadia
Missed my short entry by 1 pip! get back up there!

Just finished another 300 pip day from high to low .. should have held that long from the daily pivot errr//

6300 may cap for today and if not then 6330

I am shorting 6285 if she makes it back.
jack from where you will short???and what will be your TP

Ub
  • #136,233
  • Jun 9, 2009 9:31am Jun 9, 2009 9:31am
Quoting jack.canadia
Missed my short entry by 1 pip! get back up there!

Just finished another 300 pip day from high to low .. should have held that long from the daily pivot errr//

6300 may cap for today and if not then 6330

I am shorting 6285 if she makes it back.
SL above 6300
  • #136,234
  • Jun 9, 2009 9:32am Jun 9, 2009 9:32am
Quoting jack.canadia
SL above 6300
6330 is still possible so enter at your own discretion
  • #136,235
  • Jun 9, 2009 9:32am Jun 9, 2009 9:32am
Quoting 4cfx
Truth to be told, I don't know how to read your chart! Care to explain it to me?
lol, how is my empty chart difficult to interpret my friend?
it's been explained at the other thread btw, you'll have to read through it if you're interested
Thank You
  • #136,236
  • Jun 9, 2009 9:33am Jun 9, 2009 9:33am
damnit 3 setups! missed long from USDCAD from 61.8 and a 38.2% fib short on euro ..

the more im around here the less aggressive i get lol
  • #136,237
  • Jun 9, 2009 9:38am Jun 9, 2009 9:38am
Quoting ubaidahsan
jack from where you will short???and what will be your TP

Ub
there it was Ub .. shorted 85 SL BE
  • #136,238
  • Jun 9, 2009 9:50am Jun 9, 2009 9:50am
anyone short?
  • #136,239
  • Jun 9, 2009 9:51am Jun 9, 2009 9:51am
Jack why from 85? isnt 6305 or 30 better?
  • #136,240
  • Jun 9, 2009 9:52am Jun 9, 2009 9:52am
Quoting jack.canadia
anyone short?
@1.6273
Keep It Simple Stupid
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