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Cable Update (GBPUSD)

  • #151,061
  • Jul 26, 2009 10:58pm Jul 26, 2009 10:58pm
Also sometimes its difficult to measure how much market will retrace when there is positive or negative divergence.
  • #151,062
  • Jul 26, 2009 11:00pm Jul 26, 2009 11:00pm
Quoting forexlion
okie dokie 1.6460

now the deal is this

 

  1. we are in a tight trading range, there is no doubt about this so forget big targets
  2. if 1.6460 breaks and we trade above 1.6475 then 1.6542 again
  3. on the down side if 1.6383 breaks, then it breaks the range somewhat for a retest of 1.60 area.
  4. otherwise we still continue to slog on 5 min charts

Very much appreciated.
Great Bodies are Engineered not Born
  • #151,063
  • Jul 26, 2009 11:01pm Jul 26, 2009 11:01pm
Quoting mktjong
Looks like a choppy trade until London or NY session. It's directionless as I see it now

choppy ? as mentioned buyers 1.6418 ... 40 pip trade
Blogging daily now at www.volume.zone
  • #151,064
  • Jul 26, 2009 11:01pm Jul 26, 2009 11:01pm
Quoting direct-trade
See you at 16566.

Happy trades.

  1. i seriously doubt

Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 9 KB
  • #151,065
  • Jul 26, 2009 11:02pm Jul 26, 2009 11:02pm
Quoting forexlion

  1. Never hunt big targets, always look for something which is immediately possible
  2. Hunting big targets is building castles in the air.

Lets those with big accounts hunt for the big target.
Great Bodies are Engineered not Born
  • #151,066
  • Jul 26, 2009 11:03pm Jul 26, 2009 11:03pm
Quoting sailor68
Hi Malcolmb, i never trade during asian sessions, but im looking this pair since 1 week, and now i have the same point of view...also one question what kind of indicator do you use for volume.
Thanks
indie is just volume with colour coding related to the spread of the candle
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  • #151,067
  • Jul 26, 2009 11:03pm Jul 26, 2009 11:03pm
My Pending orders:

Buy Order 1.6480 TP-1.6535 SL-1.6460
Sell Order 1.6374 TP-1.6310 SL 1.6390

I'm hoping for some major selling during the London session so we can get out of this choppy crap.
  • #151,068
  • Jul 26, 2009 11:06pm Jul 26, 2009 11:06pm
Quoting direct-trade
Oh, before I go, that's $5 you owe me...and everyone else here that you bet

err ...1.6380 is below 1.6400 ... he won bet
Blogging daily now at www.volume.zone
  • #151,069
  • Jul 26, 2009 11:09pm Jul 26, 2009 11:09pm
Quoting forexlion

  1. i seriously doubt

I doubt it also

check out bear div rsx 4 hour

I doubt this will even break 1,6480

Attached Image (click to enlarge)
Click to Enlarge Name: chart103.png Size: 250 KB
Blogging daily now at www.volume.zone
  • #151,070
  • Jul 26, 2009 11:10pm Jul 26, 2009 11:10pm
Quoting forexlion

  1. Never hunt big targets, always look for something which is immediately possible
  2. Hunting big targets is building castles in the air.

Define "Big targets"
  • #151,071
  • Jul 26, 2009 11:10pm Jul 26, 2009 11:10pm
Quoting malcolmb14
err ...1.6380 is below 1.6400 ... he won bet
  • #151,072
  • Jul 26, 2009 11:10pm Jul 26, 2009 11:10pm
Quoting drerhys
My Pending orders:

Buy Order 1.6480 TP-1.6535 SL-1.6460
Sell Order 1.6374 TP-1.6310 SL 1.6390

I'm hoping for some major selling during the London session so we can get out of this choppy crap.
why you buying top of channel ? they could upthrust it 10 pips and you lost 20 for nothing
Blogging daily now at www.volume.zone
  • #151,073
  • Jul 26, 2009 11:11pm Jul 26, 2009 11:11pm
Quoting GodfreyH
Define "Big targets"

  1. random targets of 1.7 or 1.8 with absolutely no justification

  • #151,074
  • Jul 26, 2009 11:12pm Jul 26, 2009 11:12pm
Originally Posted by forexlion http://static.forexfactory.com/forex...s/viewpost.gif

  1. Never hunt big targets, always look for something which is immediately possible
  2. Hunting big targets is building castles in the air.


Nice!!

  • #151,075
  • Jul 26, 2009 11:12pm Jul 26, 2009 11:12pm
Quoting malcolmb14
why you buying top of channel ? they could upthrust it 10 pips and you lost 20 for nothing
buy tops sell bottoms
  • #151,076
  • Jul 26, 2009 11:14pm Jul 26, 2009 11:14pm
Quoting malcolmb14
why you buying top of channel ? they could upthrust it 10 pips and you lost 20 for nothing
You are right but I was thinking that if it breaks the range at the top of the channel we could see some trending during London. I think 1.65 may be a better entry.
  • #151,077
  • Jul 26, 2009 11:14pm Jul 26, 2009 11:14pm
Quoting forexlion

  1. random targets of 1.7 or 1.8 with absolutely no justification

  • #151,078
  • Jul 26, 2009 11:15pm Jul 26, 2009 11:15pm
Quoting malcolmb14
err ...1.6380 is below 1.6400 ... he won bet
He posted 2hr27mins ago when price had seen the low and was already nicely above 16400

He losses the bet
  • #151,079
  • Jul 26, 2009 11:17pm Jul 26, 2009 11:17pm
Quoting drerhys
You are right but I was thinking that if it breaks the range at the top of the channel we could see some trending during London.
Never

 

  1. enter a trade after the pros have milked the juice out of it.
  2. because that is where they start selling

  • #151,080
  • Jul 26, 2009 11:18pm Jul 26, 2009 11:18pm
Quoting direct-trade
He posted 2hr27mins ago when price had seen the low and was already nicely above 16400

He losses the bet

early yet bear div 4 hour and sellers hit market on 15 min at 1.6465

I also bet $5 that we see 1.6400 before end of US session tomorrow
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