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Trade what you see NOT what you expect

  • #17,881
  • Jul 9, 2009 12:59am Jul 9, 2009 12:59am
Please share your chart Deboooo

Thank you in advance!
Just digging in the trenches like everyone else!
  • #17,882
  • Jul 9, 2009 1:22am Jul 9, 2009 1:22am
  • #17,883
  • Jul 9, 2009 1:35am Jul 9, 2009 1:35am
Quoting eohater
Please share your chart Deboooo

Thank you in advance!
Hi my friend

My view cable now have a resistance it was before a support if it broke it will continue up to next resistance as it noticed on the chart if cannot it will test 1.5995
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  • #17,884
  • Jul 9, 2009 1:55am Jul 9, 2009 1:55am
Thanks Ken and EO, for your answers!
  • #17,885
  • Jul 9, 2009 2:05am Jul 9, 2009 2:05am
Morning all I am now short 1.6123 stop 1.6140
  • #17,886
  • Jul 9, 2009 2:37am Jul 9, 2009 2:37am
Hmm, I was in there with you bud, took 30 and covered only to find cable had a seizure and squared me..

Quoting davids
Morning all I am now short 1.6123 stop 1.6140
Ride the Bulls bearback!
  • #17,887
  • Jul 9, 2009 2:45am Jul 9, 2009 2:45am
Quoting alcando
Hmm, I was in there with you bud, took 30 and covered only to find cable had a seizure and squared me..
I got 36 I am looking at the 1H 62 atm will we get the bounce?
  • #17,888
  • Jul 9, 2009 4:27am Jul 9, 2009 4:27am
Looking on this day chart, if we close here or higher then we would have a reversal chart pattern. It would also indicate that the previous day was indecision as to direction (doji) and today the direction was established, also stochastics are oversold.

So, if we are able to keep above the hr 50 ema, then longs should be good. Long at 1.6145, stop just under hr 50 ema at 1.6115
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  • #17,889
  • Jul 9, 2009 4:41am Jul 9, 2009 4:41am
Quoting GodfreyH
Looking on this day chart, if we close here or higher then we would have a reversal chart pattern. It would also indicate that the previous day was indecision as to direction (doji) and today the direction was established, also stochastics are oversold.

So, if we are able to keep above the hr 50 ema, then longs should be good. Long at 1.6145, stop just under hr 50 ema at 1.6115
Very good chart Godfrey, I just went long as soon as I saw the H1 candle was rejected to go back under the H1 50 ma....
  • #17,890
  • Jul 9, 2009 5:00am Jul 9, 2009 5:00am
Quoting Isty
Very good chart Godfrey, I just went long as soon as I saw the H1 candle was rejected to go back under the H1 50 ma....
, and I must say I love Deboooo's utterly and unashamedly naked chart, with the support / resistance levels based on price action, such beauty in simplicity.

I came out at 1.6205. The daily average range of cable is about 200 pips, and from my server time, that would put it at about 1.6220, and about 1.6270 for other servers, but I'm good for now.

Anywho , time for

Cheers
  • #17,891
  • Jul 9, 2009 5:17am Jul 9, 2009 5:17am
Nice trade Godfrey.
I am watching 16240 for potential reversal. Prev Support and resistance, Technical bucket trade, and intersects exactly on the H1 200sma. It is also a 161 fib extension of the morning leg and often respects that extension.

Also $index has done some good mileage and often tends to bounce off the 80 level. Currently at 80.10 which may do it too...
Ride the Bulls bearback!
  • #17,892
  • Jul 9, 2009 5:22am Jul 9, 2009 5:22am
Quoting alcando
Nice trade Godfrey.
I am watching 16240 for potential reversal. Prev Support and resistance, Technical bucket trade, and intersects exactly on the H1 200sma. It is also a 161 fib extension of the morning leg and often respects that extension.

Also $index has done some good mileage and often tends to bounce off the 80 level. Currently at 80.10 which may do it too...
It looks like she is starting to fall I will keep watching, I am not in a trade right now, waiting for BOE announcement
  • #17,893
  • Jul 9, 2009 5:28am Jul 9, 2009 5:28am
Yep, 16210 is a good level but did not get an immediate reaction so I thought I would wait for a potential spike into 16240 or just stay out.

I'd like to get a short in and be 25 clear and locked ahead of the BOE. They can say/do some stupid stuff and the poor GBP tends to dislike that smug old geezer King when he opens his fly trap. I cant get the last 2 or 3 meetings out of my head with those beautiful red stripes.

Quoting davids
It looks like she is starting to fall I will keep watching, I am not in a trade right now, waiting for BOE announcement
Ride the Bulls bearback!
  • #17,894
  • Jul 9, 2009 6:08am Jul 9, 2009 6:08am
Quoting alcando
Yep, 16210 is a good level but did not get an immediate reaction so I thought I would wait for a potential spike into 16240 or just stay out.

I'd like to get a short in and be 25 clear and locked ahead of the BOE. They can say/do some stupid stuff and the poor GBP tends to dislike that smug old geezer King when he opens his fly trap. I cant get the last 2 or 3 meetings out of my head with those beautiful red stripes.
It looks as if this time he did not put his foot in it, are you still looking for a short as it seems the bulls are gaining control I must admit cable has me confused right now
  • #17,895
  • Jul 9, 2009 6:26am Jul 9, 2009 6:26am
Yep. She has cracked her daily range in my opinion. She has spent the last few days camped well below her H1 Ma's which have been pointing to 5'o clock for several days. Even if we are going to reverse the mid-term trend, we are likely to return to the H1 MA's so unless she touches 6150 where my H1 10ma is trying to kiss the H1 62ema, I would be reluctant to buy. The m15 35/50's should be there later too. My short at 16240 was filled so I have taken most off that and locking the rest to see. I dont expect we will head down till this bull H4 is closed in 40 min as it would be a nasty bear pin for then so I may just wait till then for another trade.. but we do have some data which may bring some risk aversion at 13:30. Very risky to buy here in my opinion so I am not.




Quoting davids
It looks as if this time he did not put his foot in it, are you still looking for a short as it seems the bulls are gaining control I must admit cable has me confused right now
Ride the Bulls bearback!
  • #17,896
  • Jul 9, 2009 6:40am Jul 9, 2009 6:40am
Quoting alcando
Yep....

Thanks Bud

My thoughts exactly I had a nice long earlier closed at 1.6204 I got out when R2 looked like holding, flat at the moment looking at some of the other pairs for potential setups
  • #17,897
  • Jul 9, 2009 7:48am Jul 9, 2009 7:48am
Afternoon Pippinole did you take the 35 50 reverse on the mistress I got in at 129.820
  • #17,898
  • Jul 9, 2009 7:50am Jul 9, 2009 7:50am
Our current working H1 candle might be a hangingman...If it is,I will try short...
  • #17,899
  • Jul 9, 2009 7:51am Jul 9, 2009 7:51am
entered short at 6261....took 20 and locked in +2

Stopped out by 1.....

she could be saying she is not quite ready to drop yet!
  • #17,900
  • Jul 9, 2009 8:06am Jul 9, 2009 8:06am
Quoting davids
Afternoon Pippinole did you take the 35 50 reverse on the mistress I got in at 129.820
Sorry Davids I was away from the computer. I have some longs from below and have added on a couple of times and taken profit along the way. The one hr. pin bar from London is strong at the moment and we are in a consolidation. May be playing a little Gump on her. We are stuck between a 38% and 50% fib.
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