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Cable Update (GBPUSD)

  • #151,601
  • Jul 27, 2009 4:45pm Jul 27, 2009 4:45pm
Quoting mktjong
Nope .. I don't really like to trade UJ, thus out earlier with 1-2 pips. Had my GJ closed as well with some pips. I am playing a little bit with EU short just for satisfying my itchy fingers (smaller lot)
After 4 PM CDT is another new day for me. I don't like this EU as well, might close it for a small loss.
My target is 30-50 pips/day, more will be great. I made enough earlier, am just playing atm .. my real trade usually won't start until 10 PM CDT. Wait for Asian session to determine its direction. If no good set up yet, I just wait till it happens. Usually in London session, the direction is clear. Mostly trade Geppy
  • #151,602
  • Jul 27, 2009 4:57pm Jul 27, 2009 4:57pm
For some possibilities...

Ok,
First off, yes, i use 'candlesticks w/Mb,
And Yes i go back to this for 'visual use.
So, in the case of getting laughed out the forum,
i care not. -The pippage backs up both
the Candlesticks and this. Again, just for the
"Pressure" visual here:

Jeff...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009_July_26th Sunday OPEN GU GJ.jpg Size: 303 KB
I will work to Objectively Identify my Edges
  • #151,603
  • Jul 27, 2009 5:02pm Jul 27, 2009 5:02pm
Morning guys, looks like she's moving like a dog. Still holding long bias for long on cable and EUR.

cable 1.6475.... SL 1.6370.... TP 1.6650

EUR 1.4250.... SL 1.4160.... TP 1.4340

See you guys at the London / US Session
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #151,604
  • Jul 27, 2009 6:20pm Jul 27, 2009 6:20pm
I dont like this PA. Closed all long positions from 16390/16400 and will stand aside till later in the week.

Happy trades and green pips to you.
  • #151,605
  • Jul 27, 2009 6:20pm Jul 27, 2009 6:20pm
buy entry orders at 6463 and 6453 stop at 6433.
Its all in the mind.
  • #151,606
  • Jul 27, 2009 6:22pm Jul 27, 2009 6:22pm
Sitting on the 24hour SMA line, the last line of defence.

Make that just under, Long on Strength around here but shorts are looking promising for Tuesday!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #151,607
  • Jul 27, 2009 6:23pm Jul 27, 2009 6:23pm
Also one small yoroow-dohlar long at 4233
Its all in the mind.
  • #151,608
  • Jul 27, 2009 6:27pm Jul 27, 2009 6:27pm
expect a 40-45 pip bounce from 6450 is area.

ps- well that is if it reaches there lol

Quoting Turveyd
Sitting on the 24hour SMA line, the last line of defence.

Make that just under, Long on Strength around here but shorts are looking promising for Tuesday!!
Its all in the mind.
  • #151,609
  • Jul 27, 2009 6:30pm Jul 27, 2009 6:30pm
yep, extremely krappy PA all day long, I was at work but was looking at the price extremely dissapointing. Now counting on Asia though they have been the ones selling this so a tight stop loss.

Quoting direct-trade
I dont like this PA. Closed all long positions from 16390/16400 and will stand aside till later in the week.

Happy trades and green pips to you.
Its all in the mind.
  • #151,610
  • Jul 27, 2009 6:32pm Jul 27, 2009 6:32pm
This is what I see as far as PA on the GBPUSD daily line chart.

The price has been consolidating around the 76.4 fib level for some time now.

The key is the upcoming diagonal support line to the right.

if price goes below both the 76.4 fib value and the diagonal support line, then the trend may start to change and go south.

if price stays above the 76.4 fib level, and bounces off of the diagonal support line, then the trend may continue up to the 1.6760, and depending on greed and fundamental news improving for GB, it may even go up to 1.7199.

My two cents.

PAPION
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd line chart 27 july 2009.JPG Size: 186 KB
Click to Enlarge Name: gbpusd candle chart 27 july 2009.JPG Size: 193 KB
An ocean of boundlesness......
  • #151,611
  • Jul 27, 2009 6:32pm Jul 27, 2009 6:32pm
Quoting 5abi
expect a 40-45 pip bounce from 6450 is area.

ps- well that is if it reaches there lol

My Lower Range Envelope is there, but IF it ever gets there it'll be much lower and our cars will be able to fly LOL

Going to get a early night and HOPE it's fluid tomorrow.

My setup suggested a short @85, coulda gotten 12pips LOL

Night dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #151,612
  • Jul 27, 2009 7:00pm Jul 27, 2009 7:00pm
Out yoroow for a 15, out pound for a 10.

well the thing about PA is that you can see it with the corner of your eye lol esp so when it is crappy


nite nite, trade well

better watch bill o reilly now


Quoting Turveyd
My Lower Range Envelope is there, but IF it ever gets there it'll be much lower and our cars will be able to fly LOL

Going to get a early night and HOPE it's fluid tomorrow.

My setup suggested a short @85, coulda gotten 12pips LOL

Night dude!!
Its all in the mind.
  • #151,613
  • Jul 27, 2009 7:13pm Jul 27, 2009 7:13pm
Quoting Faryad
hey geppyg my friends howz u
yes i want a dive long one
Wait till Next week mate....You will probably get a massive one.........
I am fine...dont come on here any more....too much loose calling and all that...just like jack went...I have taught my self not to come here any more....lol....

I talk to wormboy off and message Mr Grashid and Malcomb but thats about it...

Catch you later take it easy

GeppyG
Let Price determine your future!
  • #151,614
  • Jul 27, 2009 8:27pm Jul 27, 2009 8:27pm
Hi Guys,

yesterday I said we had a 12% chance of having an up day, I based this on an asumption I have checked out.

my asumption was 50% of the time cable is up and 50% it is down on a daliy basis, logic says (if this is true) after 1 down day the next day is 50% 50% up or down after 2 down days this falls to only 25% in favour of another down day, on the 3rd day their is only a 12.5% chance that it will be down.

I have tested (in a limited way) the asumption and it is not as true as I would have liked.

I stand to be corrected but a count of all daily bars since 13th Jan = 169 trading days;

17 were neutral =10%

65 were down =38%

87 were up =51%

and I know it only = 99

The most down days in a row was 6 but I had to count 2 neutral days to get this.

The most up days in a row was 8.

Using this logic, our daily direction for today is so far undecided, and will be determined by other facters. I had some welcome help yesterday in looking further than a slightly flawed but workable % ballance of probability.

Happy trading.
  • #151,615
  • Jul 27, 2009 9:12pm Jul 27, 2009 9:12pm
I guess I will continue trading upside down then......LOL Because its working for me. I found out that 95% of the people in here mis-interpret the news. So I don't pay attention to news naysayers

Ne

Quoting mktjong
You must be upside down .. lol .. good number shall send this pair to the roof or the sky
  • #151,616
  • Jul 27, 2009 9:20pm Jul 27, 2009 9:20pm
greets to u all traders here..
would all masta here be disturbed by my ugly opinion of cable..?
please let me threw my forecast eventhough it's just an ugly amatuer forecast..

am shorting cable now (1.647x)
just trying to catch around 40-60 pips, then waiting for London market..
spirit 0f pipping
  • #151,617
  • Jul 27, 2009 9:23pm Jul 27, 2009 9:23pm
Price action, plus Support and Resistance.

The rest is "History"......
  • #151,618
  • Jul 27, 2009 9:25pm Jul 27, 2009 9:25pm
This 15min looks interesting.
  • #151,619
  • Jul 27, 2009 9:44pm Jul 27, 2009 9:44pm
Quoting w4rrenminded
greets to u all traders here..
would all masta here be disturbed by my ugly opinion of cable..?
please let me threw my forecast eventhough it's just an ugly amatuer forecast..

am shorting cable now (1.647x)
just trying to catch around 40-60 pips, then waiting for London market..
I would only go for 30 at most if I were you for now...jmho short term cheers!
  • #151,620
  • Jul 27, 2009 9:51pm Jul 27, 2009 9:51pm
Quoting Sunny66
I would only go for 30 at most if I were you for now...jmho short term cheers!
ATR for the last 4 days= 94
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