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Cable Update (GBPUSD)

  • #167,021
  • Sep 18, 2009 6:44am Sep 18, 2009 6:44am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Guys,

Let me put you to a test. I have attached a chart and I want all of you to look at it and let all of us know what do you think and why.

We might have different views and it would be good to know pros and cons.

Don't think I am someone who is a guru (not even born in technical analysis yet), just to have better understanding of how I am looking at things.

I would be a good time pass and some good brain exercise.


Thanks
ams
Attached Image (click to enlarge)
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  • #167,022
  • Sep 18, 2009 6:46am Sep 18, 2009 6:46am
Quoting manz66
Are you the famous bbmac from moneytec chatroom? Trading buddy of soultrader?

Looks like you are doing great. Nice seeing you here.

Soultrader is boss. Top trader
Thank You
  • #167,023
  • Sep 18, 2009 6:48am Sep 18, 2009 6:48am
Quoting ams
Hey Guys,

Let me put you to a test. I have attached a chart and I want all of you to look at it and let all of us know what do you think and why.

We might have different views and it would be good to know pros and cons.

Don't think I am someone who is a guru (not even born in technical analysis yet), just to have better understanding of how I am looking at things.

I would be a good time pass and some good brain exercise.


Thanks
ams
a bigger chart would help
  • #167,024
  • Sep 18, 2009 6:53am Sep 18, 2009 6:53am
Quoting ams
Hey Guys,

Let me put you to a test. I have attached a chart and I want all of you to look at it and let all of us know what do you think and why.

We might have different views and it would be good to know pros and cons.

Don't think I am someone who is a guru (not even born in technical analysis yet), just to have better understanding of how I am looking at things.

I would be a good time pass and some good brain exercise.


Thanks
ams
I'll take a wild guess (and that's all it is) that we're seeing the start of a huge H&S formation, which, once it breaks, we'll see 1.53 come into play. You ready, Azim?

Next opinion, pls....

p.s. AMS, I got into serious trouble last night because of you! I was meant to meet my g/f after work and foolishly arrived 20 minutes late, thanks to our debate. I spent the rest of the evening, without success, trying to come back from that error. It cost me a three course dinner with drinks and I still went home alone!
  • #167,025
  • Sep 18, 2009 6:57am Sep 18, 2009 6:57am
lol, SoulTrader is really a character!

Anyway I usually hang out sometime in Auslanco - GBP/JPY and GBP/USD. I found some great traders there (they are more technical type), particular one named malcomb14 from Canada. He trades with volume, although forex is not centralized, but using e-signal data and futures currency it is possible to be successful. So, drop by there once in a while. Goodluck.

Quoting bbmac
I am the same from moneytec days,[ long departed, great whilst it lasted.] As for being a buddy of SoulTrader, nothing is further from the truth, a thoroughly conceited and horrible individual I have yet to encounter in the virtual trading world of forums/chatrooms, lol.
  • #167,026
  • Sep 18, 2009 6:58am Sep 18, 2009 6:58am
Quoting albchr
I'm not asking becuse my charts me why I think it is ATM. But, Why do you brother?

I closed my 6300 long a "little" early but I'm happy with the 6356. I do however see a potential turn down again at the 6370/80ish area.
Short at 6363. Not expecting "too" much but let's see....

I'll probably get to BE quickly on this one.
Ghost Rider - WWTBMD?
  • #167,027
  • Sep 18, 2009 6:59am Sep 18, 2009 6:59am
Quoting gammase1
I'll take a wild guess (and that's all it is) that we're seeing the start of a huge H&S formation, which, once it breaks, we'll see 1.53 come into play. You ready, Azim?
Ever ready Paul!
That's a diamond he has on his chart too.
Thank You
  • #167,028
  • Sep 18, 2009 7:06am Sep 18, 2009 7:06am
Quoting wormboy
Ever ready Paul!
That's a diamond he has on his chart too.
you know what is really scary bro...I just realized...we are ALL short here now...
Hear the music before the song is over ...
  • #167,029
  • Sep 18, 2009 7:17am Sep 18, 2009 7:17am
Quoting GlobalMacro
you know what is really scary bro...I just realized...we are ALL short here now...
except my ass......still thou if this goes wrong i f**ked it!.....week is over!..
  • #167,030
  • Sep 18, 2009 7:18am Sep 18, 2009 7:18am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Sorry mate, my apologies.

These debates are addictive, and we love them.

Sorry I had to leave yesterday. Being in office gives me limited time to chat or post charts etc. All I do is brag and say opinions.

Coming back alone after 3 course meal, and drinks. Not enough I guess.
I am not taking blame for you guys not getting pissed enough





Quoting gammase1
I'll take a wild guess (and that's all it is) that we're seeing the start of a huge H&S formation, which, once it breaks, we'll see 1.53 come into play. You ready, Azim?

Next opinion, pls....

p.s. AMS, I got into serious trouble last night because of you! I was meant to meet my g/f after work and foolishly arrived 20 minutes late, thanks to our debate. I spent the rest of the evening, without success, trying to come back from that error. It cost me a three course dinner with drinks and I still went home alone!
  • #167,031
  • Sep 18, 2009 7:20am Sep 18, 2009 7:20am
Quoting nAVIN2007
yes it was always goiing down and my target would have been reached..i wanted to see here if there was going to be a reaction...to me i got it...bias changed according to what i see in charts..thats all we can do, if it goes wrong scenero failled....
okay. Just be careful bro
Thank You
  • #167,032
  • Sep 18, 2009 7:21am Sep 18, 2009 7:21am
Quoting wormboy
okay. Just be careful bro
im always carefull bro.....im in on 7p a pip u cant get morefull than that!
trying to make back my wonga
  • #167,033
  • Sep 18, 2009 7:23am Sep 18, 2009 7:23am
OK, guess I'm on everyones iggy list today....

Have a great weekend folks and happy trading....
Ghost Rider - WWTBMD?
  • #167,034
  • Sep 18, 2009 7:23am Sep 18, 2009 7:23am
Quoting nAVIN2007
except my ass......still thou if this goes wrong i f**ked it!.....week is over!..
you still long bro? I thought you got stopped out?
Hear the music before the song is over ...
  • #167,035
  • Sep 18, 2009 7:30am Sep 18, 2009 7:30am
Quoting GlobalMacro
you still long bro? I thought you got stopped out?

still in.....time to put trendline in the way
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  • #167,036
  • Sep 18, 2009 7:30am Sep 18, 2009 7:30am
First trade of the day, and last.. trailing stop.

Staircase pattern, Obvious short from the break of the temp bull

http://img29.imageshack.us/img29/5501/sept18th4.th.gif

200K contract - TP is 6295
lowest draw down possible please.
  • #167,037
  • Sep 18, 2009 7:31am Sep 18, 2009 7:31am
Just annotating some charts while waiting for some less boring PA.

Anyone see this potential inverse H&S? Would it be valid if the right shoulder does form around the right hand arrow? If it does, then it conflicts with the hidden bearish div also marked on the chart.

This is only a 15 minute chart, if the h&s does play out there could be a small bounce. However I'm still bearish long term so will not take a risky long but will wait to enter short in case of a pullback.
Attached Image (click to enlarge)
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  • #167,038
  • Sep 18, 2009 7:33am Sep 18, 2009 7:33am
No more sellers.. This is a good place to pick up a long.
nibble nibble... 1.6328
  • #167,039
  • Sep 18, 2009 7:35am Sep 18, 2009 7:35am
Quoting PipVip
No more sellers.. This is a good place to pick up a long.
nibble nibble... 1.6328


http://img41.imageshack.us/img41/2349/orlyo.jpg
lowest draw down possible please.
  • #167,040
  • Sep 18, 2009 7:36am Sep 18, 2009 7:36am
Oh...thank god...finally somebody buying....
Hear the music before the song is over ...
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