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Cable Update (GBPUSD)

  • #170,701
  • Sep 29, 2009 4:11pm Sep 29, 2009 4:11pm
Quoting direct-trade
Well, added another short on GBp/JPY at 14375 hours ago...price now at...wait for it...14375 lol.

We seem to have run out of any further upside momentum on Cable and GBP/JPY, so expect a gradual fall from here accelerating as we pass the 15800 and 141 levels.
Well 10hrs since I went added another Short at 14375 we are at.....wait for it.....14375

Just as well I am patient lol

Good to see you Quecee, is it just me who see's a possible drop straight from here?
  • #170,702
  • Sep 29, 2009 4:20pm Sep 29, 2009 4:20pm
Quoting ahlamo
Being that you are presenting this article to actual FX traders, Expect a lot of questions to come. How long? how many losses? what time frame? how long ( again)?

Anyway, looking at the last 4H candle, there may be a quick dive to test 1.5900 again before a goes up ( which is the expected spike) before NFP news

Good trading to all

forexlion uses thse forums to make others PM him .. he uses some site ( not mentioning name) where others sign up to his calls

I have monitored him on that site as thought he is an interesting character. His signature was large drawdowns (100 pip or more) before he closed for 20 pip profit. Any muppet can have 100% profitable trades trading like that. But they will inevitably end up blowing up their account.

He did end up doing fairly well , but then things went all wrong when pair came out of range. The three times I followed he ended up blowing account by not managing risk . He also does not trade his own money he has said that himself.

I mean what is point of coming in saying 400 trade..blah blah blah ...

statistics say that NO ONE , not even the most accurate computer algorithems will make 100% .. not with 16 pip draw down max.

I just want to mention this as there are newbies that may fall for trading 1 min charts. It is one of the hardest time frames to trade in the fx world due to the spreads and only recommnded for newbies that want to lose their account on their first venture into trading.
Blogging daily now at www.volume.zone
  • #170,703
  • Sep 29, 2009 4:27pm Sep 29, 2009 4:27pm
Quoting malcolmb14
forexlion uses thse forums to make others PM him .. he uses some site ( not mentioning name) where others sign up to his calls

I have monitored him on that site as thought he is an interesting character. His signature was large drawdowns (100 pip or more) before he closed for 20 pip profit. Any muppet can have 100% profitable trades trading like that. But they will inevitably end up blowing up their account.

He did end up doing fairly well , but then things went all wrong when pair came out of range. The three times I followed he ended up blowing...
Well said malc
  • #170,704
  • Sep 29, 2009 4:29pm Sep 29, 2009 4:29pm
I agree.

Sh*t traders sell signals.

Good traders make money and can't be arsed to sell signals.

Good traders can be bloody bored staring at screens all day waiting and watching the market and post their analysis to pass the time, hopefully helping others see their perspective of price at that time, whilst also reading others analysis and sometimes finding some hidden gems of knowledge.

Believe it or not, some sh*t traders provide free signals lol.
  • #170,705
  • Sep 29, 2009 4:30pm Sep 29, 2009 4:30pm
Quoting goodness
Well said malc

tracked him down on site he is using and looked at results .... while his claim is not quiet correct about max draw down ( 35 pip was max for lcosing at 10 pip)... the r/r ratio is 1 and what ever system he is using seems fairly accuruate....

seems like he may have found something that works for him at last.
Blogging daily now at www.volume.zone
  • #170,706
  • Sep 29, 2009 4:32pm Sep 29, 2009 4:32pm
Quoting direct-trade
I agree.

Sh*t traders sell signals.

Good traders make money and can't be arsed to sell signals.

Believe it or not, some sh*t traders providee free signals lol.
lol

I come in under the last sentence ....

GU retrace does not look strong ... .I mean 200 pip in 48 hours .... really weak considering average daily range for GU. What do you make of it. This reatrce may not even hit 1.6100
Blogging daily now at www.volume.zone
  • #170,707
  • Sep 29, 2009 4:43pm Sep 29, 2009 4:43pm
Quoting malcolmb14
lol

I come in under the last sentence ....

GU retrace does not look strong ... .I mean 200 pip in 48 hours .... really weak considering average daily range for GU. What do you make of it. This reatrce may not even hit 1.6100
I come under the last sentence too lol.

Right mate, I see continued failure to break above 144, can't see much of a push above there to be honest.

16000 on Cable seems to be holding also and USD/JPY is firm against 9020.

Seems we are at major resistance across the board and to break through we would need to drop for more buyers, but if price drops the sellers would quickly take control IMHO.

I see this whole rise as pure profit taking and a few retail traders jumping in for the ride.

2nd possible 4 hr doji forming on the beast. Cable and USD/JPY are forming one as I write.

Complete equilibrium ATM, if continues we see a gradual fall from here as Buyers give up.

Would be nice to see USD/JPY and Cable fall at the same time, I am still holding for 135 and lower on the beast and 154/lower on Cable.

What do you think Mal?
  • #170,708
  • Sep 29, 2009 4:52pm Sep 29, 2009 4:52pm
direct trade

You make a convincing analysis of the situation. Thanks for the input.

Quoting direct-trade
I come under the last sentence too lol.

Right mate, I see continued failure to break above 144, can't see much of a push above there to be honest.

16000 on Cable seems to be holding also and USD/JPY is firm against 9020.

Seems we are at major resistance across the board and to break through we would need to drop for more buyers, but if price drops the sellers would quickly take control IMHO.

I see this whole rise as pure profit taking and a few retail traders jumping in for the ride.

2nd possible 4 hr doji forming on the beast. Cable and...
  • #170,709
  • Sep 29, 2009 4:53pm Sep 29, 2009 4:53pm
Accumulation ftw.
  • #170,710
  • Sep 29, 2009 4:56pm Sep 29, 2009 4:56pm
Quoting albchr
I can't believe anyone is actually looking for a direction or trade right now. On the 1H chart, volume for the hour 6 hours ago was 2503. Steadily declining from there, the last hour was 346. This hour is shaping up to be less than 300.

I'm no volume expert by any means but I know enough to know there isn't any trading going on right now. Anything at this point is no better than a 50/50 guess at best IMHO.

Cya all in LDN.

Stupid question - can I ask which platform you're using that shows you the volume? I'm using FXCM's trading platform but I can't seem to find a volume indicator.
  • #170,711
  • Sep 29, 2009 5:00pm Sep 29, 2009 5:00pm



If I had made 6000 pips in this sh*tty cable PA today I would do the following:

-> Buy The Freaking Taj Mahal and Have it done over for my Mistresses

-> Hire Paris Hilton, Naomi Campbell to wipe my a$$ with my cable pip $$$
from today's sh*tty range....damn!!!...that's a nice image !!!

-> Call George SorryA$$ up and tell him he can kiss my butt instead of hanging
around this forum
Hear the music before the song is over ...
  • #170,712
  • Sep 29, 2009 5:04pm Sep 29, 2009 5:04pm
I'm long on the GU, since 5850. Here is how I look at it.
Attached Image
  • #170,713
  • Sep 29, 2009 5:09pm Sep 29, 2009 5:09pm
Quoting stevefx
I'm long on the GU, since 5850. Here is how I look at it.
Brov is it me or what I aint got a clue what you can see in that graph...matey
Let Price determine your future!
  • #170,714
  • Sep 29, 2009 5:10pm Sep 29, 2009 5:10pm
Quoting GlobalMacro



If I had made 6000 pips in this sh*tty cable PA today I would do the following:

-> Buy The Freaking Taj Mahal and Have it done over for my Mistresses

-> Hire Paris Hilton, Naomi Campbell to wipe my a$$ with my cable pip $$$
from today's sh*tty range....damn!!!...that's a nice image !!!

-> Call George SorryA$$ up and tell him he can kiss my butt instead of hanging
around this forum
Gm May be he play £100 a point and gets 60 point which in return gives him a pip value of only 60 but pip cash value of 6000 matey.....
Let Price determine your future!
  • #170,715
  • Sep 29, 2009 5:12pm Sep 29, 2009 5:12pm
Quoting Geppyg
Brov is it me or what I aint got a clue what you can see in that graph...matey
Climbing channel. TP 6800.
  • #170,716
  • Sep 29, 2009 5:13pm Sep 29, 2009 5:13pm
Intresting chart Stevefx

Here's how I see it:
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  • #170,717
  • Sep 29, 2009 5:13pm Sep 29, 2009 5:13pm
Quoting direct-trade
I come under the last sentence too lol.

Right mate, I see continued failure to break above 144, can't see much of a push above there to be honest.

16000 on Cable seems to be holding also and USD/JPY is firm against 9020.

Seems we are at major resistance across the board and to break through we would need to drop for more buyers, but if price drops the sellers would quickly take control IMHO.

I see this whole rise as pure profit taking and a few retail traders jumping in for the ride.

2nd possible 4 hr doji forming on the beast. Cable and...
uj chart 1 -.. bear div 1 hour no buying pressure
gj chart 2 ...reatrce to 38 % took forever .. no buying pressure and rsx at 80 in a down trend ... very bearish
gu chart 3...4 hour .. I think we only get retrace to 38 5 1.6040 max. The reatrcement is taking forever. As the move off 1.6750 was 5 waves the move up has been an abc correction ....next 5 wave move may start tomorrow on adp ....

ES chart 4... yesterday I thought for sure symmetry of moves took us to 1160 , but after todays up move being sold into at resistance zone 1070 i am not sure any more and i think the ES ( s&p) correction I am seeing into 980 to 960 zone continues thru next week

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Blogging daily now at www.volume.zone
  • #170,718
  • Sep 29, 2009 5:16pm Sep 29, 2009 5:16pm
http://www.forexfactory.com/showpost...stcount=170449

Morning guys,

Possible last nights post, road block at 1.5980 could be stronger than expected... I would have liked to woken up to a 1.6000 barrier broken but its proven to be a little more stubborn than originally anticipate. I have just closed longs and reversed short at:

1.5956... SL.. 1.6020.... TP.. 1.5860

See you guys at the london session
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #170,719
  • Sep 29, 2009 5:24pm Sep 29, 2009 5:24pm
Quoting stevefx
I'm long on the GU, since 5850. Here is how I look at it.

steve take the ballons off and you will see price broke your channel and is going a re-test that is all ...not 6800

gu's journey ... naked chart ...a few channels and fib retracements MIN target 1.5000

the up move to 1.63xx may never happen and the bottom of the channel may not hold if GU decides to go into free fall

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #170,720
  • Sep 29, 2009 5:27pm Sep 29, 2009 5:27pm
Quoting direct-trade
Intresting chart Stevefx

Here's how I see it:
Any number of things may happen in the short term. All I needed to enter this trade was evidence of a rejection at 5750-5800 area. Buying just above there and my 5 to 6 week trade is entered at the bottom of the channel with 1 to 8 RR, given my SL and TP...
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