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Cable Update (GBPUSD)

  • #155,981
  • Aug 6, 2009 6:13pm Aug 6, 2009 6:13pm
Thanks a lot and I will do some testing on it, but for 10 years I haven't had a problem with my setups and I am still plugging. Appreciate the help though.

Quoting malcolmb14
chnage setting on stochastics to 21 to spot divergenceso n higher time frames ....

here it is ....

Attachment
  • #155,982
  • Aug 6, 2009 6:15pm Aug 6, 2009 6:15pm
well the UK100 is a chart that bothers me as im looking for 161.8 as I am the dow
Im not sure what your doji looks like but mine is not bearish enough for me to think target is met
Non Farm tomorrow could be the key since ADP was bad?
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  • #155,983
  • Edited 6:17pm Aug 6, 2009 6:16pm | Edited 6:17pm
Quoting malcolmb14
and just to top off my arguement a simple macd

Attachment
Agree that this divrgence is of concern, however it can run for few more days before the PA will eventually take notice of it. The eventual move down is on cards, the question is "when?" and from which level.
Make sure losses are small and profits are bigger!
  • #155,984
  • Aug 6, 2009 6:21pm Aug 6, 2009 6:21pm
turvey are you looking short for later?
  • #155,985
  • Aug 6, 2009 6:23pm Aug 6, 2009 6:23pm
Quoting tyler812
I agree...
Price is clearly trending up for the time being. Resistance was strongly violated and is now acting as support. We shall have to wait and see if it will hold.

Tyler

Attachment
your resistance is a bit wrong on longer time frame. Think of resistance as a zone . The more time hits a level the stronger the resistance was. The bulk of resistance is 1.6600 that is the area I am looking to be tested before this time tomorrow, the upthrust you have hit that for about 10 min only , so does not really form a strong resistance level

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  • #155,986
  • Aug 6, 2009 6:25pm Aug 6, 2009 6:25pm
Hey Guys, I get it, I understand what you are saying Malc. I understand that the 61.8% is around the 1.6600 mark and if the 31.8 %, ( Circa 1.6774 ) was broken with athority I may be right there with you. However, that is not the case. Now if it does break it tonight, 1.6692 would be first in line. Until then, I will stay with the trend.

J
  • #155,987
  • Aug 6, 2009 6:26pm Aug 6, 2009 6:26pm
Quoting dogol
... SELL LIMIT @1.6850 SL 1.6870 TP 1.6690 ... i hope it works .. malcolm is it ok?

may not even get to sell limit . But sound good . I foten do rescue trades , divide the order into 2 .. like sell at 1.6800 , then add rescue trade sell at 1.6835 , stop 1st one 60 pip , 2nd 25 pip , something like that
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  • #155,988
  • Aug 6, 2009 6:27pm Aug 6, 2009 6:27pm
err .. wot !!!
http://www.marketwatch.com/story/fan...aid-2009-08-06

thought that housing market was getting better !!!
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  • #155,989
  • Aug 6, 2009 6:29pm Aug 6, 2009 6:29pm
Quoting Nene
Hey Guys, I get it, I understand what you are saying Malc. I understand that the 61.8% is around the 1.6600 mark and if the 31.8 %, ( Circa 1.6774 ) was broken with athority I may be right there with you. However, that is not the case. Now if it does break it tonight, 1.6692 would be first in line. Until then, I will stay with the trend.

J
also .... when a strong resistance level breaks 90 % of the time it will be tested on lower volume. I think that is what is going to happen . That way pros (if bullish ) can add to their longs at discount
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  • #155,990
  • Aug 6, 2009 6:33pm Aug 6, 2009 6:33pm
Quoting malcolmb14
also .... when a strong resistance level breaks 90 % of the time it will be tested on lower volume. I think that is what is going to happen . That way pros (if bullish ) can add to their longs at discount

Malc, I thought your bias for tonight was short?
  • #155,991
  • Aug 6, 2009 6:37pm Aug 6, 2009 6:37pm
Quoting alex1976
Malc, I thought your bias for tonight was short?

it is for now .. into 1.6600 ... then see what happens from there. I am looking for test of that break out level and see how the charts look after that .

GJ may well move down into 158 . 157.5 if gu moves diwn 160 pips ....
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  • #155,992
  • Aug 6, 2009 6:43pm Aug 6, 2009 6:43pm
Quoting malcolmb14
err .. wot !!!
http://www.marketwatch.com/story/fan...aid-2009-08-06

thought that housing market was getting better !!!
LOL...

http://www.forexfactory.com/showpost...stcount=154858
Ghost Rider - WWTBMD?
  • #155,993
  • Aug 6, 2009 6:46pm Aug 6, 2009 6:46pm
Quoting malcolmb14
it is for now .. into 1.6600 ... then see what happens from there. I am looking for test of that break out level and see how the charts look after that .

GJ may well move down into 158 . 157.5 if gu moves diwn 160 pips ....

Okay, I get ya.
  • #155,994
  • Aug 6, 2009 6:48pm Aug 6, 2009 6:48pm
Quoting alex1976
turvey are you looking short for later?

Nope, play it by ear tomorrow as per normal, see what the direction is then and look for a setup, same old same old!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #155,995
  • Aug 6, 2009 6:50pm Aug 6, 2009 6:50pm
Quoting albchr
LOL...

http://www.forexfactory.com/showpost...stcount=154858

yeah fannie mae posts 15 billion loss .... buit not to worry AIG (classified as junk bonds now) will post eps of 1.67 ... 1st time books have been cooked in 4 quarters ..lol
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  • #155,996
  • Aug 6, 2009 6:52pm Aug 6, 2009 6:52pm
815 to 855, nice zone to keep an eye on.
  • #155,997
  • Aug 6, 2009 6:57pm Aug 6, 2009 6:57pm
Let the games begin!
  • #155,998
  • Aug 6, 2009 6:57pm Aug 6, 2009 6:57pm
Quoting malcolmb14
yeah fannie mae posts 15 billion loss .... buit not to worry AIG (classified as junk bonds now) will post eps of 1.67 ... 1st time books have been cooked in 4 quarters ..lol

Everyone else remember this time last year, when 15Bil was still classed as a lot of money LOL

American Aircraft Carriers used to cost 3Bil not that long ago, so coulda built 5 of those huge things from 1 companys losses!! crazy world.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #155,999
  • Aug 6, 2009 7:00pm Aug 6, 2009 7:00pm
Quoting Turveyd
Nope, play it by ear tomorrow as per normal, see what the direction is then and look for a setup, same old same old!!

That makes sense too, cause anything can happen between now and 3am.
  • #156,000
  • Aug 6, 2009 7:02pm Aug 6, 2009 7:02pm
Quoting alex1976
Let the games begin!

Shame I had to go out, I coulda gotten back in near 1.6750 and been up for the day already!!

Still in a over all uptrend, first bad down day in like ages, NFP will likely cause a 200pip up day cancelling out today.


Should be fun either way.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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