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Cable Update (GBPUSD)

  • #163,041
  • Sep 3, 2009 4:51am Sep 3, 2009 4:51am
Quoting riko2705
how can we read that triple ?

thanks in advance..
Thats right if she breaks it can be a breakout. If she holds it will become a very strong area. Hard to say, at this point there's no real short term up trend to pick and the downtrend is broken, so it can anyones guess now.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,042
  • Sep 3, 2009 4:54am Sep 3, 2009 4:54am
Quoting GlobalMacro
Thanks bro...
I see you liked dragon.....I had a couple of good trades with it but generally I stay away from it.....I can see why you guys love it, it's a temptation for sure...
Its definitely more volitile.... starting to like her a little more as I get a bit of a taste.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,043
  • Sep 3, 2009 4:55am Sep 3, 2009 4:55am
Quoting Bull_Bear
Thats right if she breaks it can be a breakout. If she holds it will become a very strong area. Hard to say, at this point there's no real short term up trend to pick and the downtrend is broken, so it can anyones guess now.
We do not need to pick. It is free to sit and watch here, we wait patiently for NFP. Market has to show its hand from here sooner or later. If she break down it was a double top if she break up then we resume uptrend. We might miss one 2% night doing this but small price to pay for a forecast for the rest of the year
  • #163,044
  • Sep 3, 2009 4:58am Sep 3, 2009 4:58am
if any1 is interested to why this mofo went up thismight explain it .....bullish diverence with 3 chances at the bottom..
Attached Image (click to enlarge)
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  • #163,045
  • Sep 3, 2009 4:58am Sep 3, 2009 4:58am
Quoting Fx1618
once u get used to its personality its a great pair to trade.

Just need to keep in mind when the queen sneeze it Spikes 50 pips easily and then correct itself.
The absolute best pair to trade
Try trading the dragon & go back to trading fibre you'll find yourself trapped in a warp.
50 pips? I've had first hand experience of being stopped out on a 300+ pips spike in an hour! Guess that time the queen broke wind lol
Thank You
  • #163,046
  • Sep 3, 2009 5:00am Sep 3, 2009 5:00am
The daily chart below shows how the ascending support channel was breeched to the downside then offered resistance on 2 x retest pullbacks to current 6108 lows..will price again find resistance (sbr) at the breeched channel if tested?

The uptrend now extends to the 1hr chart the 4hr now printing a H above the last LH of it's downtrend.

G/L

http://i28.tinypic.com/dr9pbs.gif
ex member
  • #163,047
  • Sep 3, 2009 5:01am Sep 3, 2009 5:01am
Quoting wormboy
The absolute best pair to trade
Try trading the dragon & go back to trading fibre you'll find yourself trapped in a warp.
50 pips? I've had first hand experience of being stopped out on a 300+ pips spike in an hour! Guess that time the queen broke wind lol
Remember that dragon short.....man...250 pips in profit and come back to to a 5 min 350 pip reversal....up 12k and then down 2k in less than 3 mins.....lol
Let Price determine your future!
  • #163,048
  • Sep 3, 2009 5:03am Sep 3, 2009 5:03am
Quoting albchr
I have found (through EO'S thread) that I like the EJ. It's kind of a baby dragon and a good way for us new dragon slayers to get our feet wet...LOL
yup, EJ's fun to trade too. I use to trade EJ, but I ditched it and solely concentrated on dragon.
Once you go dragon, you'll never go back
Thank You
  • #163,049
  • Sep 3, 2009 5:03am Sep 3, 2009 5:03am
Quoting Geppyg
Remember that dragon short.....man...250 pips in profit and come back to to a 5 min 350 pip reversal....up 12k and then down 2k in less than 3 mins.....lol
bahahaha i remembered. we were trading that on skype! that was funny
Thank You
  • #163,050
  • Sep 3, 2009 5:08am Sep 3, 2009 5:08am
Short
Attached Image (click to enlarge)
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  • #163,051
  • Sep 3, 2009 5:09am Sep 3, 2009 5:09am
Quoting wormboy
bahahaha i remembered. we were trading that on skype! that was funny
lol that was funny...not for me mate joke...

Still flat waiting for some direction....
Gotta funny feeling about a false breakout to the upside.....and then a full reversal on monday...
That should clear out any weak shorts...how high..ummmm 510 max....
I am trying but I can get the last NFP out of my head....which would make sense...

2 Days will complete the retracement of the recent drops and then from Monday we continue our down trend.....

Lets See
Let Price determine your future!
  • #163,052
  • Sep 3, 2009 5:09am Sep 3, 2009 5:09am
the 100 sma has acted as a supp/resistance area receently and it looks like it's resisting right now comming @ 1.6385 + the ressistance @ around 70-90ish. My thought
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  • #163,053
  • Sep 3, 2009 5:10am Sep 3, 2009 5:10am
Quoting wormboy
yup, EJ's fun to trade too. I use to trade EJ, but I ditched it and solely concentrated on dragon.
Once you go dragon, you'll never go back
Too crazy for the way I have to trade right now. Once I get to a point more like a position trader, I'll trade her as well.
Ghost Rider - WWTBMD?
  • #163,054
  • Sep 3, 2009 5:11am Sep 3, 2009 5:11am
Quoting Bull_Bear
Thats right if she breaks it can be a breakout. If she holds it will become a very strong area. Hard to say, at this point there's no real short term up trend to pick and the downtrend is broken, so it can anyones guess now.

thank you bb
  • #163,055
  • Sep 3, 2009 5:12am Sep 3, 2009 5:12am
if any1 trade dragon the mofo might not break 151..

cable may still rise...
Attached Image (click to enlarge)
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  • #163,056
  • Sep 3, 2009 5:13am Sep 3, 2009 5:13am
Quoting wormboy
Once you go dragon, you'll never go back
Added Bonus:
My wife does not mind me doing Dragon... she actually enjoys it...
  • #163,057
  • Sep 3, 2009 5:15am Sep 3, 2009 5:15am
Good day to you,

Just got home from a meeting. Closed my morning trade for +59. But this only covers my hiding from yesterday...

Will see where we go from here...Price currently holding above last week's 50% line of 1.6347
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  • #163,058
  • Sep 3, 2009 5:18am Sep 3, 2009 5:18am
Quoting Fx1618
Added Bonus:
My wife does not mind me doing Dragon... she actually enjoys it...
you got that joke!
Thank You
  • #163,059
  • Sep 3, 2009 5:20am Sep 3, 2009 5:20am
Quoting albchr
Too crazy for the way I have to trade right now. Once I get to a point more like a position trader, I'll trade her as well.
welp, Malcolmb trades this pair using low timeframes with great success bro.
Think it's like what fx1618 said, you need to familiarize yourself with the pair.
Thank You
  • #163,060
  • Sep 3, 2009 5:22am Sep 3, 2009 5:22am
The last hour (1800 - 1859h Japan time) was an inside bar.

LONG @ 1.6355
(STOP @ 1.6345)
EXIT @ 1.6460 (or longer if I can pull it off)

That DIBS thread is starting to pay off.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
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