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Cable Update (GBPUSD)

  • #150,221
  • Jul 23, 2009 12:46pm Jul 23, 2009 12:46pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I can say nothing but who can for sure.
I already said this morning that nikkei is up despite dow down yesterday and all the other indices will follow, and they did. Not that I am a genius, just little experience.

Look at the economic climate and see what has happened in the past whenever there was a divergence. Check out and then may be we can reach to an agreement. Do you think cable can break 170 in exisiting climate ?? I don't think so.

Euro already tanked 90 pips almost what it made today, Eh?



ams


Quoting stewrigh
What will you say if it breaks out and hits 1.8 the next clear s/r level.
  • #150,222
  • Jul 23, 2009 12:47pm Jul 23, 2009 12:47pm
Quoting AstonDan
I imagine Phil means this (4H above, 5 min below), although i'm sure he'll correct me if im wrong.

Attachment

Attachment
Thx
  • #150,223
  • Jul 23, 2009 12:48pm Jul 23, 2009 12:48pm
Quoting stewrigh
Yep I been watching this mo all day but I'm beginning to think it's headed for 160 now.
Agreed, but before that it would retrace some .. am counting on that. Seems no selling volume coming in yet but buying volume seems starting to decline
(This is for Geppy)
  • #150,224
  • Jul 23, 2009 12:57pm Jul 23, 2009 12:57pm
wooohoo dow up usd up
Thank You
  • #150,225
  • Jul 23, 2009 1:01pm Jul 23, 2009 1:01pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Didn't have to go that far do we Stewrigh :-)



ams



Quoting ams
I can say nothing but who can for sure.
I already said this morning that nikkei is up despite dow down yesterday and all the other indices will follow, and they did. Not that I am a genius, just little experience.

Look at the economic climate and see what has happened in the past whenever there was a divergence. Check out and then may be we can reach to an agreement. Do you think cable can break 170 in exisiting climate ?? I don't think so.

Euro already tanked 90 pips almost what it made today, Eh?



ams
  • #150,226
  • Jul 23, 2009 1:03pm Jul 23, 2009 1:03pm
Quoting albchr
Well I've just reached trader frustration so I'm done. This wishy washy garbage has cost me enough today and I won't open myself up to revenge trading.

Perhaps tomorrow there will actually be a market to trade.

Best wishes everyone...

OK, maybe just a "little" revenge trading...LOL Short 6547 and locked in for enough to make the day BE+ 2 at worst.

And I might just get out here...
Ghost Rider - WWTBMD?
  • #150,227
  • Jul 23, 2009 1:03pm Jul 23, 2009 1:03pm
It mean cable down..?

How double top worked on 4H charts before? + divergence + the top of Bollinger B. ...should cable go down more than 100 pips?

London Trader
I`ve attached the chart 20 minuts ago

Quoting wormboy
wooohoo dow up usd up
Discomfort and profit often stand side by side
  • #150,228
  • Jul 23, 2009 1:19pm Jul 23, 2009 1:19pm
Quoting albchr
OK, maybe just a "little" revenge trading...LOL Short 6547 and locked in for enough to make the day BE+ 2 at worst.

And I might just get out here...
It has been a strage day, as there was a long delay between the equties, fx and commodities. There is a nice price rejection bar on H4, so shorting the market looks like a good idea. I might build a short position after the weekend if the PA looks good enough, until then I shall scalp. as I do not want to hold an open position over the weekend.
Make sure losses are small and profits are bigger!
  • #150,229
  • Jul 23, 2009 1:20pm Jul 23, 2009 1:20pm
really mean! Loss all my profit for today.. thank you very much stop hunter.. you really make my day!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #150,230
  • Jul 23, 2009 1:27pm Jul 23, 2009 1:27pm
Quoting Yngwie
really mean! Loss all my profit for today.. thank you very much stop hunter.. you really make my day!
cheers up man .. u will get it all back .. market never stops , don't be sad days will come again and agian

Be happy
  • #150,231
  • Jul 23, 2009 1:29pm Jul 23, 2009 1:29pm
Quoting Yngwie
really mean! Loss all my profit for today.. thank you very much stop hunter.. you really make my day!

Same thing happened to me, kept getting stopped out.
  • #150,232
  • Jul 23, 2009 1:31pm Jul 23, 2009 1:31pm
We have a divergence on DAILY chart as well. I wonder how it works...and 4H with double top and top of Bollinger Band mentioned before
Hm...any one has experiance with double tops on 4H charts and divergences...? How deep we can dive? if we can...

London Trader

Quoting LondonTrader
It mean cable down..?

How double top worked on 4H charts before? + divergence + the top of Bollinger B. ...should cable go down more than 100 pips?

London Trader
I`ve attached the chart 20 minuts ago
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1day_di.gif Size: 24 KB
Click to Enlarge Name: 4hdt.gif Size: 41 KB
Discomfort and profit often stand side by side
  • #150,233
  • Jul 23, 2009 1:42pm Jul 23, 2009 1:42pm
Quoting LondonTrader
It mean cable down..?

How double top worked on 4H charts before? + divergence + the top of Bollinger B. ...should cable go down more than 100 pips?

London Trader
I`ve attached the chart 20 minuts ago
Dunno, I don't use indicators.
All I know is I'm not going long cable.
Thank You
  • #150,234
  • Jul 23, 2009 1:43pm Jul 23, 2009 1:43pm
Thanks a lot

LT
Quoting wormboy
Dunno, I don't use indicators.
All I know is I'm not going long cable.
Discomfort and profit often stand side by side
  • #150,235
  • Jul 23, 2009 1:53pm Jul 23, 2009 1:53pm
on the geppy...

on 1HR TF, is that a perfect eye and nose pinbar forming/formed?
  • #150,236
  • Jul 23, 2009 1:54pm Jul 23, 2009 1:54pm
Quoting wormboy
Dunno, I don't use indicators.
All I know is I'm not going long cable.
My rationale to short cable is an expected ABC corrective, when the C is reached (likely around the end of July) cable shall resume an uptrend.
Another way to look at this PA is to count the last month and a half as a large diagonal, as Phil has posted, with the resumption of the upwards move after the bounce og 1.58 -1.59 zone. In either case after this correction is over, a move to the mid 1.7 ties is likely to follow.
Today the price has bounced of 78.6% with a clear price rejection bar on H4. I would be looking for this level to act as resistance, pls obseve the prievious reversals in this price zone.
Attached Image (click to enlarge)
Click to Enlarge Name: cable h4 23-07-09.jpg Size: 130 KB
Make sure losses are small and profits are bigger!
  • #150,237
  • Jul 23, 2009 1:59pm Jul 23, 2009 1:59pm
Quoting albchr
I was just looking at the monthly charts. It's pretty intersesting to see that, had I been live with my 5K account, I could have slapped a 2 lot standard buy in on the first of April. Open at 1.4358, Low of 1.4272 for a total draw down of 86 pips which a 5k account could handle easily.

I'd now have $44,000 as of today at 1.6558. +2200 pips

Hmmm...who knew?
I share your pain. It's always a 20-20 vision in hindsight. There's always tomorrow.
  • #150,238
  • Jul 23, 2009 2:02pm Jul 23, 2009 2:02pm
Long @ 1.6520, SL @ 1.6494.
  • #150,239
  • Jul 23, 2009 2:03pm Jul 23, 2009 2:03pm
Quoting 2be
My rationale to short cable is an expected ABC corrective, when the C is reached (likely around the end of July) cable shall resume an uptrend.
Another way to look at this PA is to count the last month and a half as a large diagonal, as Phil has posted, with the resumption of the upwards move after the bounce og 1.58 -1.59 zone. In either case after this correction is over, a move to the mid 1.7 ties is likely to follow.
Today the price has bounced of 78.6% with a clear price rejection bar on H4. I would be looking for this level to act as resistance,...
Thanks for the info, but I have no idea why you quote me. I didn't even question you shorting cable
Thank You
  • #150,240
  • Jul 23, 2009 2:05pm Jul 23, 2009 2:05pm
ok guyz am out of here need to sleep

before i go i take a long @ 1.6505 SL @1.6460 TP @1.6610

Good Luck all and see u in Asia
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