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Cable Update (GBPUSD)

  • #140,941
  • Jun 29, 2009 12:36pm Jun 29, 2009 12:36pm
Quoting malcolmb14
I trade futures along side forex .... if forex not working i hop on to trade the ES. This is the s&p emini. A much more regulated market.

day started with a very clear selling climax for a long ... price has not looked back on ES and may close at highs of day = bullish for tomorrow = bullish GU

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  • #140,942
  • Jun 29, 2009 12:37pm Jun 29, 2009 12:37pm
Oou,

SO we can call S&P500 as a ES? I tough that if ES goes up then the cable goes down but it seems that I was wrong? Wasn`t I?

LT

Quoting malcolmb14
I trade futures along side forex .... if forex not working i hop on to trade the ES. This is the s&p emini. A much more regulated market.
Discomfort and profit often stand side by side
  • #140,943
  • Jun 29, 2009 12:39pm Jun 29, 2009 12:39pm
Thank you very much
LT

Quoting malcolmb14
day started with a very clear selling climax for a long ... price has not looked back on ES and may close at highs of day = bullish for tomorrow = bullish GU

Attachment
Discomfort and profit often stand side by side
  • #140,944
  • Jun 29, 2009 12:45pm Jun 29, 2009 12:45pm
Near the range top and bearish diverging on the hourly. 15-minute as well according to MACD.

I am still holding a short.
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  • #140,945
  • Jun 29, 2009 12:47pm Jun 29, 2009 12:47pm
Well jack i think time to short what u say ?
  • #140,946
  • Jun 29, 2009 12:48pm Jun 29, 2009 12:48pm
I am sorry if I asking too much. Could you give me a tip how can I find the ES? Maybe there is a code or something?
Ah...
LT

Quoting malcolmb14
day started with a very clear selling climax for a long ... price has not looked back on ES and may close at highs of day = bullish for tomorrow = bullish GU

Attachment
Discomfort and profit often stand side by side
  • #140,947
  • Jun 29, 2009 12:55pm Jun 29, 2009 12:55pm
Quoting Faryad
Well jack i think time to short what u say ?
I wont tell you to short. But I am already, from 6558.
  • #140,948
  • Jun 29, 2009 1:11pm Jun 29, 2009 1:11pm
i am short aslo from 1.6555 i do have half a lot pending at 1.6605 but idk if that will fill. my t/p is at 1.6400. jack wheres ur at by chance? or anyone esle thats short
  • #140,949
  • Jun 29, 2009 1:20pm Jun 29, 2009 1:20pm
Quoting LondonTrader
Oou,

SO we can call S&P500 as a ES? I tough that if ES goes up then the cable goes down but it seems that I was wrong? Wasn`t I?

LT

when indexes go up USD gets weaker as money is moved away from treasuries into stocks market. This is the theory
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  • #140,950
  • Jun 29, 2009 1:34pm Jun 29, 2009 1:34pm
Quoting jack.canadia
Very good video for pivots. This is what got me started.

http://transcripts.fxstreet.com/2008...utional-t.html
Thanks so much Jack - I've viewed the first 5 min, and it seems like an excellent if beginner oriented video; have not seen the site before, and it looks like a qualitative one that I will mine further. And Jack, thanks for your to-the-point posts and analysis - it's been of invaluable assistance to me and I eagerly assess your input; hope that short I too have from 1.6544 works out for both of us! Please don't stop being so constructive - it's of tremendous aid to many!
  • #140,951
  • Jun 29, 2009 1:48pm Jun 29, 2009 1:48pm
Quoting tjhimself
i am short aslo from 1.6555 i do have half a lot pending at 1.6605 but idk if that will fill. my t/p is at 1.6400. jack wheres ur at by chance? or anyone esle thats short
Based on the range, 6250. I take partial as I go and if I feel like it I'll close it. I can no longer hedge so If i want to buy while short I have to close the short.
  • #140,952
  • Jun 29, 2009 1:48pm Jun 29, 2009 1:48pm
This range is getting tedious!

Any idea what could lead us to breakout?
  • #140,953
  • Jun 29, 2009 1:50pm Jun 29, 2009 1:50pm
Quoting Beljevina
Thanks so much Jack - I've viewed the first 5 min, and it seems like an excellent if beginner oriented video; have not seen the site before, and it looks like a qualitative one that I will mine further. And Jack, thanks for your to-the-point posts and analysis - it's been of invaluable assistance to me and I eagerly assess your input; hope that short I too have from 1.6544 works out for both of us! Please don't stop being so constructive - it's of tremendous aid to many!
You're welcome! Alot of people in here have different views and styles with respect to trading and they are all of value.
  • #140,954
  • Jun 29, 2009 1:57pm Jun 29, 2009 1:57pm
Quoting alex1976
This range is getting tedious!

Any idea what could lead us to breakout?
Ya malcolmb made a point that this time around we didnt see the hard reaction that we have been seeing.

Anything could .. news .. but once the big money loses interest in selling then she'll move north.

Until then I'm sticking with the fact thats it's still in a range until the range is broken.. Dont sweat trying to catch the break out, catch the re-test.
  • #140,955
  • Jun 29, 2009 2:00pm Jun 29, 2009 2:00pm
i cant wait any longder..1.6569 short...
  • #140,956
  • Jun 29, 2009 2:02pm Jun 29, 2009 2:02pm
Jack do u have a s/l on that trade
  • #140,957
  • Jun 29, 2009 2:03pm Jun 29, 2009 2:03pm
Quoting tjhimself
Jack do u have a s/l on that trade
Not yet since i have been sitting here all day.
  • #140,958
  • Jun 29, 2009 2:03pm Jun 29, 2009 2:03pm
This is working well in chop, simple SMA based Envelopes.


45sma 0.17% and a 200sma 0.35% currently, varies abit but those settings have worked for a few days.


White Dotted = Range based on 45sma, Blue Dotted = based on 200sma.

Buy High Sell Low made easy, only failed right at the start of that chart.
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #140,959
  • Jun 29, 2009 2:17pm Jun 29, 2009 2:17pm
We hit obvious resistance today and made a daily high at the highest closing price of the last peak.
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  • #140,960
  • Jun 29, 2009 2:20pm Jun 29, 2009 2:20pm
Quoting crisis
i cant wait any longder..1.6569 short...
lol ... wait .. better off . The best you can hope for is a shake out now before tokyo .

I bet this thing tests 1.6600 in Tokyo session , both gj and gu are just resting before next leg up

why is everyone in such a hurry to sell ??? i understand the scalpers looking for 20 - 40 pip a trade.

There are no sellers. If there was price would have dropped on low volume. The 1 hour clearly shows up and if 1.6540 holds up to 1.6730.

I gave all kinds of reasons why gu will break higher in an earlier post . This still holds. We have not seen sellers enter the market yet

Look at the other times that GU hit this level .... those are ALOT different from this one , we had instant rejection . Those sellers are not there any more. Price action screams this loud and clear.


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