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Cable Update (GBPUSD)

  • #165,301
  • Edited 4:52am Sep 14, 2009 4:49am | Edited 4:52am
Quoting Bull_Bear
Slapping a small long @ 1.6520... SL 1.6490... TP 1.6590
6521 is 76.4% of 6453-6740 and Daily S3 pivot. G/L with it.
ex member
  • #165,302
  • Sep 14, 2009 4:52am Sep 14, 2009 4:52am
Quoting bbmac
6521 is 76.4% of 6480-6740 and Daily S3 pivot. G/L with it.
I knew there's a reason why I vouched for you
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,303
  • Sep 14, 2009 4:55am Sep 14, 2009 4:55am
i'm slappin a small long when it reach around the 1.6500 area too...
  • #165,304
  • Sep 14, 2009 4:58am Sep 14, 2009 4:58am
Quoting Bull_Bear
I knew there's a reason why I vouched for you
lol

I had same idea but I'm in and out for +10 only based on a 1min bullish divergence based Reversal set-up..I am preferring better potential rbs/support confluence if price tests lower..although there is also bullish divergence on 15min/30min at that level but could be just developing? I'm always more wary counter trend without good confluence, and counter trend on a trending day when price is outside of average daily range would be perfect, lol.

http://i27.tinypic.com/2s5y1hg.gif
ex member
  • #165,305
  • Sep 14, 2009 5:04am Sep 14, 2009 5:04am
Quoting bbmac
lol

I had same idea but I'm in and out for +10 only based on a 1min bullish divergence based Reversal set-up..I am preferring better potential rbs/support confluence if price tests lower..although there is also bullish divergence on 15min/30min at that level but could be just developing? I'm always more wary counter trend without good confluence, and counter trend on a trending day when price is outside of average daily range would be perfect, lol.

http://i27.tinypic.com/2s5y1hg.gif
I hate scalping the +10 +20 +30 pips. Absolutely crap at it!

No guts no glory I say, but NOT foolish
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,306
  • Sep 14, 2009 5:08am Sep 14, 2009 5:08am
Good day to you,

1st long @ 1.65.52
2nd long @ 1.65.36

avg price @ 1.6544

At this point, these are the factors numbered on chart)

1) Confluence of last weeks 50% line @ 1.6531 as well as lower level of weekly channel by low @ 1.6529.
3) Wednesday's close @ 1.6545 - this was the first resistance and therefore the first long was placed above this level.
4) This is the possible TP area - the 50% line of this week @ 1.6600 ( also a strong historical level)

It looks like the 50% line for last week is holding. Therefor the 2nd long position taken. Price may still reach 1.6479 (Thursday's low)before retrace though.

Good trading all!
Attached Image (click to enlarge)
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  • #165,307
  • Sep 14, 2009 5:09am Sep 14, 2009 5:09am
Quoting Bull_Bear
I hate scalping the +10 +20 +30 pips. Absolutely crap at it!

No guts no glory I say, but NOT foolish

yeh it's funny, we are all different, I am currently crap at holding positions so longer t/f's do not suit,...maybe when I get older I will have more patience and not need the instant gratification so much lol, and move onto the higher t/f's but now it suite my tolerances. I also like to be done in 5hrs or less and forget about it till tomorrow so holding positions doesn't fir with that either..

Horses for courses,

G/L
ex member
  • #165,308
  • Sep 14, 2009 5:16am Sep 14, 2009 5:16am
Quoting bbmac
yeh it's funny, we are all different, I am currently crap at holding positions so longer t/f's do not suit,...maybe when I get older I will have more patience and not need the instant gratification so much lol, and move onto the higher t/f's but now it suite my tolerances. I also like to be done in 5hrs or less and forget about it till tomorrow so holding positions doesn't fir with that either..

Horses for courses,

G/L
i personally panic when i scalp...something about a stop being hit so quickly which i hate......the longer time frame for me, the more time i have to think..the better my trading decision....its definately horses for courses type situation
  • #165,309
  • Sep 14, 2009 5:20am Sep 14, 2009 5:20am
Quoting TauTrader
Good day to you,

1st long @ 1.65.52
2nd long @ 1.65.36

avg price @ 1.6544

At this point, these are the factors numbered on chart)

1) Confluence of last weeks 50% line @ 1.6531 as well as lower level of weekly channel by low @ 1.6529.
3) Wednesday's close @ 1.6545 - this was the first resistance and therefore the first long was placed above this level.
4) This is the possible TP area - the 50% line of this week @ 1.6600 ( also a strong historical level)

It looks like the 50% line for last week is holding. Therefor the 2nd long position...
I like the way you think... very conclusive analysis.

Keep it up

Heres my vouch
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,310
  • Sep 14, 2009 5:30am Sep 14, 2009 5:30am
Quoting Bull_Bear
I like the way you think... very conclusive analysis.

Keep it up

Heres my vouch
Thank you. Appreciated and grateful.

I need to add that most of the "things" I look for nowadays, have been picked up right here on this thread. So many different styles, each with it's own merit.

Astute individuals, too many to single out. I have taken from you all and are incorporating such into my way of looking at the markets.

My sincere thanks for this -

Highest regards
  • #165,311
  • Sep 14, 2009 5:41am Sep 14, 2009 5:41am
Quoting nAVIN2007
i personally panic when i scalp...something about a stop being hit so quickly which i hate......the longer time frame for me, the more time i have to think..the better my trading decision....its definately horses for courses type situation

absolutely.
---------------

Price consolidating off the current intraday low, being the area of that 76.4% of 6453-6740/Dly S3.

1hr downtrend remains intact below 6602 area, which is the top of the last minor swing lo zone on that t/f and also 38.2% of the move off 6740 highs to current intraday lows...above that and the intraday scenario probably turns a bit less bearish-neutral. There is some hidden divergence building in the 4hr oscillators.

How strong is the 1hr downtrend or 4hr uptrend?? That will be the question.

G/L

http://i28.tinypic.com/14ju52u.gif
ex member
  • #165,312
  • Edited 5:46am Sep 14, 2009 5:43am | Edited 5:46am
Good day to you,

I really would like to see the marked level broken back up. So far, price is held below this Thursday close @ 1.6546. Thus resistance. Will see how the 30min bar plays out. Bar opened above, but we need movement here. No momentum, and I may consider closing and will wait.

Regards
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  • #165,313
  • Sep 14, 2009 5:56am Sep 14, 2009 5:56am
consolidation battle seems to be won by the bears....need to be carefull if long
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  • #165,314
  • Sep 14, 2009 5:58am Sep 14, 2009 5:58am
Quoting Bull_Bear
Good to hear bro. Nice start to the week

No active trades now for me in cable and dragon

Hmmm, Guess ur right, but how do we know the exact time when u sleep off, u miss it all, couldnt catch up with the fall, now just watching for good entry... U gat any idea when to short
  • #165,315
  • Sep 14, 2009 6:02am Sep 14, 2009 6:02am
Final post from me today,... the 1hr t/f as I see it in respect of potential support/resistance factors looks like the pic below....current daily lows at that 76.4% fib/Dly S3 (not on this chart) and the ascending support trend line-1st test.

The previous swing lo then zones circled are co-existant with 4hr and in the latter area is the 50% of 6111-6740 @ 6425 area...ahead of that 6501 is 38.2% of said move.

Trend remains down 5min to 1hr, still up on 4hr. Intraday sentiment so far pretty bearish with London sentiment agree-ing with Asian/overnight off Friday's pinbar close.

G/L.

http://i26.tinypic.com/ma848p.gif
ex member
  • #165,316
  • Sep 14, 2009 6:03am Sep 14, 2009 6:03am
Quoting nAVIN2007
consolidation battle seems to be won by the bears....need to be carefull if long
Can u give a clue, when is the t.p for short.. ??
  • #165,317
  • Sep 14, 2009 6:09am Sep 14, 2009 6:09am
Quoting Bull_Bear
Slapping a small long @ 1.6520... SL 1.6490... TP 1.6590
possible I jumped the gun closed out for +10pips
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,318
  • Sep 14, 2009 6:16am Sep 14, 2009 6:16am
Repositioning Long @ 1.6500.. SL 1.6440...TP 1.6600
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,319
  • Sep 14, 2009 6:18am Sep 14, 2009 6:18am
Quoting fendi
Can u give a clue, when is the t.p for short.. ??
i cant tell bro....it isnt a high probability from here..

if anything long might be better small stop.....but its a guess pound can go up from here...no idea, thats why i didnt trade cable
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  • #165,320
  • Sep 14, 2009 6:23am Sep 14, 2009 6:23am
Quoting fendi
Hmmm, Guess ur right, but how do we know the exact time when u sleep off, u miss it all, couldnt catch up with the fall, now just watching for good entry... U gat any idea when to short
long @ 1.6500 and short 1.6600 is my view
Veni, Vidi, Vici (We came, we saw, we conquered)
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