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Cable Update (GBPUSD)

  • #165,241
  • Sep 13, 2009 11:45pm Sep 13, 2009 11:45pm
good morning eveyone
  • #165,242
  • Sep 13, 2009 11:47pm Sep 13, 2009 11:47pm
Quoting trabagwe
good morning eveyone
morning friends

happy trade today
  • #165,243
  • Edited 12:24am Sep 14, 2009 12:09am | Edited 12:24am
:nerd:
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #165,244
  • Sep 14, 2009 12:49am Sep 14, 2009 12:49am
price hit the second support on the daily
  • #165,245
  • Sep 14, 2009 1:01am Sep 14, 2009 1:01am
Hope you are all doing well.

Closed GU for +98

My chart for reference. These are the levels I will watch:

1) The area of 1.6629 is the 50% line this week. I will wait for a pullback to this level. If it holds, another short can be taken.
2) The 1.6546 price level is Wednesdays close. This will then be my next target.
3) Should 1.6546 break, then 1.6531 will be my exit.

If price breaks above 1.6629, target 1.6650,then 1.6685.

Off course, price may not pull back.

Good trading all!
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  • #165,246
  • Sep 14, 2009 1:07am Sep 14, 2009 1:07am
i think gbp/usd will rally up since EMA 200 is acting as a support

bought GU at 1.6580 tp 1.6680
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  • #165,247
  • Sep 14, 2009 1:16am Sep 14, 2009 1:16am
i went for short @ 1.6600 with TP 1.6570.
  • #165,248
  • Sep 14, 2009 1:49am Sep 14, 2009 1:49am
profit taken...support has been broken on my chart. I think the GBP will rally back..what do you guys think?
  • #165,249
  • Sep 14, 2009 1:54am Sep 14, 2009 1:54am
I hate when I dont stick with my rules, I just got burnt, went short around 6598 and then pulled my money off during the retrace at a profit of 1 pip, decided to jump back in during the continue of the move south...then got stopped out on the retrace...sticking to my damn rules would help!
  • #165,250
  • Sep 14, 2009 1:55am Sep 14, 2009 1:55am
Back on the long train. Forecasted target for the 4 hour reached, will see if she runs proper now. Still see more top, and as much as I love a discounted price, hoping to not see it much cheaper....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,251
  • Sep 14, 2009 2:07am Sep 14, 2009 2:07am
Pretty bearish with a sell-off so far during asian/overnight session off Friday's pinbar despite the gap up at open...price testing the previous 1hr/4hr swing highs and bottom of 4hr ascending channel as I write this.

Price in a downtrend to 1hr now, correct at writing...macd signal lines pointing south 30min-Weekly now.

G/L

http://i26.tinypic.com/dgt892.gif
ex member
  • #165,252
  • Sep 14, 2009 2:08am Sep 14, 2009 2:08am
Quoting Magix
Back on the long train. Forecasted target for the 4 hour reached, will see if she runs proper now. Still see more top, and as much as I love a discounted price, hoping to not see it much cheaper....

magix @ what price did you go long?
  • #165,253
  • Sep 14, 2009 2:18am Sep 14, 2009 2:18am
A break and clear of this previous 1hr/4hr swing hi=prev res=potential rbs zone and 4hr asc channel opens a move to next obvious near-term previous imbalance of demand/supply co-existant on 1hr and 4hr which is area of 6485-51 in which the 61.8% of 6320-6740 resides@ 6482. Ahead of that the 38.2% of the main 6111-6740 move @ 6501 [Mni talking about 'interim bids' @ 6510/00,] the 50% of which is @ 6425.

G/L
ex member
  • #165,254
  • Sep 14, 2009 2:23am Sep 14, 2009 2:23am
Like I said, be prepared:
http://www.forexfactory.com/showpost...postcount=2916

Overanalysing is a waste of time lol. Good luck
Thank You
  • #165,255
  • Sep 14, 2009 2:35am Sep 14, 2009 2:35am
Quoting wormboy
Like I said, be prepared:
http://www.forexfactory.com/showpost...postcount=2916

Overanalysing is a waste of time lol. Good luck
Hi Wormboy g/m...on the contrary the analysis I do is absolutely key to maintaining a 90% + strike rate (winners as a % of total trades) ..trading vboth with and contra trend high probability indicator patterns on a 1min (sometimes 5min trigger )if with the right price action trigger only @ pre-identified potential support/resistance (ie where the market moving participants/volume are most likely to act.) I let the market do the work and only target 15pips/day which @ a leverage optimised conservatively to the historical strike rate provides an attractive return.

I would agree however that on position trades/longer t/f triggers there is not as much need for such detailed analysis, but on a 1min trigger I look for as much confluence as possible both in respect of potential supp/res factors across t/f's as well as the confluence of the repeating indicator patterns on t/f's above that I use as the trigger for a trade.

Each to their own.
ex member
  • #165,256
  • Sep 14, 2009 2:37am Sep 14, 2009 2:37am
Quoting wormboy
Like I said, be prepared:
http://www.forexfactory.com/showpost...postcount=2916

Overanalysing is a waste of time lol. Good luck
Thanks Bro, but i think analyzing helps clear some doubt, possible clearer views are then in sight.
  • #165,257
  • Sep 14, 2009 2:37am Sep 14, 2009 2:37am
Quoting Jt1982
magix @ what price did you go long?
3x long positions, grabbed one more on last dip, currently holding from
1.6587
1.6567
1.6561

Holding 3x long EJ, 3x long GJ for gap fill, and 2x long EU.


Currently +280 on the day.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,258
  • Sep 14, 2009 2:42am Sep 14, 2009 2:42am
Quoting bbmac
Hi Wormboy g/m...on the contrary the analysis I do is absolutely key to maintaining a 90% + strike rate (winners as a % of total trades) ..trading vboth with and contra trend high probability indicator patterns on a 1min (sometimes 5min trigger )if with the right price action trigger only @ pre-identified potential support/resistance (ie where the market moving participants/volume are most likely to act.) I let the market do the work and only target 15pips/day which @ a leverage optimised conservatively to the historical strike rate provides...
cool

But I didn't direct that towards you. I just meant it that it's only Monday & London's barely open, I see analysis flying in left right and center, it's funny.
One look over the weekend on the larger tf already shown where the higher probability of price was going to open today.
But whatever, like you said - each to their own. I wish you guys good luck
Thank You
  • #165,259
  • Sep 14, 2009 2:45am Sep 14, 2009 2:45am
Regular bullish divergence 5min 15min and 30min at those lows indicating the pullback @ the bottom of 4hr asc channel...mni previously saying bids likely to 6550...5min shown below;

Will the 1hr form a pinbar? some mins to go yet...

G/L

http://i32.tinypic.com/ohk4mo.gif
ex member
  • #165,260
  • Sep 14, 2009 2:46am Sep 14, 2009 2:46am
Quoting wormboy
cool

But I didn't direct that towards you. I just meant it that it's only Monday & London's barely open, I see analysis flying in left right and center, it's funny.
One look over the weekend on the larger tf already shown where the higher probability of price was going to open today.
But whatever, like you said - each to their own. I wish you guys good luck
yeh understand, thx...good points made
ex member
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