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Cable Update (GBPUSD)

  • #171,141
  • Sep 30, 2009 7:55am Sep 30, 2009 7:55am
Quoting albchr
Long at 6021. SL set for the same 23 pips I just made off that silly mistake...
Just a suggestion Chris but 1.5960 is a nice place for SL my friend.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,142
  • Sep 30, 2009 7:57am Sep 30, 2009 7:57am
...speaking of confluence...it is now finding support/rbs at the confluence of the 23.6% 5823-6126 with prev 1hr ascending channel top and prev 1hr swing lo=prev support=potential rbs zone...

confluence, confluence, confluence = highest probability trading opportunities on any t/f's.

http://i38.tinypic.com/2583wcp.gif
ex member
  • #171,143
  • Sep 30, 2009 7:59am Sep 30, 2009 7:59am
Seems I have missed some of the fun this morning....

Some very good trading amongst you guys... well done!

I attach a chart with levels of importance to me right now. These are numbered and referenced:

1) Upper level of daily channel by low @ 1.6042 - could be S/R level
2) To the upside, there is a confluence of the low of last month @ 1.6152 as well as the upper level of the weekly channel by low @ 1.6151 - this should offer really good resistance.
3) The upper level of the daily channel by high is @ 1.5998 with the 1.6000 round number.
4) Yesterday's high @ 1.5988
5) Confluence here of the weekly open @ 1.5965 as well as today's opening price just below @ 1.5960
6) This week's 50% line sitting @ 1.5946

There are substantial support underneath price in various forms. Most important probably 1.5970/1.5960 the strongest. A bounce here could be profitable or a break here could signal further downside movement.

A move back above 1.6040 and then a break of 1.6050 - a retrace and a bounce off this level could indicate a move back to 1.6100 and then ultimately 1.6152 for now.

Personal bias remains bearish, but there is still a bit of water to flow into the sea for now, me finks.

Wish you success

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu112.gif Size: 19 KB
  • #171,144
  • Sep 30, 2009 7:59am Sep 30, 2009 7:59am
Quoting bbmac
...speaking of confluence...it is now finding support/rbs at the confluence of the 23.6% 5823-6126 with prev 1hr ascending channel top and prev 1hr swing lo=prev support=potential rbs zone...

confluence, confluence, confluence = highest probability trading opportunities on any t/f's.

http://i38.tinypic.com/2583wcp.gif
Nice charts BB2
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,145
  • Sep 30, 2009 8:00am Sep 30, 2009 8:00am
Quoting albchr
Long at 6021. SL set for the same 23 pips I just made off that silly mistake...

NO TRAILING STOP....LOL
Chris,

I know we're going both ways on this one...

Best of luck,
&- Watch out for that long candle buddy south-
And 9 O'clock Time frame.

When you make what you think,
Come on over to the "Dark Side"
I will work to Objectively Identify my Edges
  • #171,146
  • Sep 30, 2009 8:00am Sep 30, 2009 8:00am
Quoting Bull_Bear
Just a suggestion Chris but 1.5960 is a nice place for SL my friend.
You're probably right BB but this way worst I can do is break even and with the 95 pips I made this morning.....

I might not shoot myself if it gets hit....
Ghost Rider - WWTBMD?
  • #171,147
  • Sep 30, 2009 8:00am Sep 30, 2009 8:00am
Quoting bbmac
...speaking of confluence...it is now finding support/rbs at the confluence of the 23.6% 5823-6126 with prev 1hr ascending channel top and prev 1hr swing lo=prev support=potential rbs zone...

confluence, confluence, confluence = highest probability trading opportunities on any t/f's.
yes for sure, all trading opportunites are where support and resistance converge
Trading is 80% Emotional, 20% Technical
  • #171,148
  • Sep 30, 2009 8:01am Sep 30, 2009 8:01am
Quoting TerpFan2
Dude,
No reason for "Sorry"...
The Million Man Math and Cartoon "Scribble's" are all
a-PART of the Game!

Only those w/the purse strings, can
really say where they will place it!
Enjoy,

Jeff ! P.S. Now i have to have the Co-Hunna's
To Keep on a pair of Navin's "Stinky Short's"...!
yo jeff my brother u know me ...u short or waiting
u aint getting a signal to short better than that!! ....i might actually be getting luckier at this
Attached Image (click to enlarge)
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  • #171,149
  • Sep 30, 2009 8:05am Sep 30, 2009 8:05am
Quoting fx local
yes for sure, all trading opportunites are where support and resistance converge
i remember the time when i said i use pivot points an they were neccessary for trading and u said " well the pro's just use naked charts" yes absolutely..the dynamics of the market only uses these defined areas

question is spotting them

have a good one brother!
  • #171,150
  • Sep 30, 2009 8:06am Sep 30, 2009 8:06am
Quoting Bull_Bear
This is my style mate
Piss Ur Style !
U R So Bad Taste !
  • #171,151
  • Sep 30, 2009 8:06am Sep 30, 2009 8:06am
Quoting Bull_Bear
Target hit.... +70pips

Reversed long @ 1.6030... SL 1.5960... TP.. 1.6160
hey bb howz u bro

doji on h1 i think we should tank down more this time
  • #171,152
  • Sep 30, 2009 8:07am Sep 30, 2009 8:07am
Unless this pupppy is just gonna tank, 5980/90 "should" be good support. If so, I'll long form there.
Ghost Rider - WWTBMD?
  • #171,153
  • Sep 30, 2009 8:12am Sep 30, 2009 8:12am
Quoting Che4x
Piss Ur Style !
U R So Bad Taste !
Not sure how to take that??? Piss my style... ??? I think you just have bad english
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,154
  • Sep 30, 2009 8:13am Sep 30, 2009 8:13am
Quoting Faryad
hey bb howz u bro

doji on h1 i think we should tank down more this time
See you at 1.6170 bro
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 137 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,155
  • Sep 30, 2009 8:13am Sep 30, 2009 8:13am
Quoting nAVIN2007
yo jeff my brother u know me ...u short or waiting
u aint getting a signal to short better than that!! ....i might actually be getting luckier at this
You Know it buddy...
In the Navy we used to say "UNIFORM of the DAY is as follows...
Dungaree's, White Hat's & carry Raincoat".

Today:
Uniform of the Day is as follows:
SHORT'S, and... 'Wait for Dow to Open,
In 20 Min's then place Entries!"
FUTURE's turning sour.

Chris's bull camp is winning tug of war ground,
here though! :0
Best of Pipping Nav,

Jeff!
I will work to Objectively Identify my Edges
  • #171,156
  • Sep 30, 2009 8:14am Sep 30, 2009 8:14am
nice call bb
thanks for reminding me of that level thati took profit and wait for another short above 1.61
cheers
Quoting Bull_Bear
Support on the retrace... the old 38.2% retracement.
  • #171,157
  • Sep 30, 2009 8:16am Sep 30, 2009 8:16am
Quoting Bull_Bear
See you at 1.6170 bro
Take me with you

i long @ 1.6028
  • #171,158
  • Sep 30, 2009 8:16am Sep 30, 2009 8:16am
Quoting TerpFan2
You Know it buddy...
In the Navy we used to say "UNIFORM of the DAY is as follows...
Dungaree's, White Hat's & carry Raincoat".

Today:
Uniform of the Day is as follows:
SHORT'S, and... 'Wait for Dow to Open,
In 20 Min's then place Entries!"
FUTURE's turning sour.

Chris's bull camp is winning tug of war ground,
here though! :0
Best of Pipping Nav,

Jeff!
Hey Jeff...

Let's hope so..... 15m is telling me it's far from over though.
Ghost Rider - WWTBMD?
  • #171,159
  • Sep 30, 2009 8:18am Sep 30, 2009 8:18am
Quoting TerpFan2
You Know it buddy...
In the Navy we used to say "UNIFORM of the DAY is as follows...
Dungaree's, White Hat's & carry Raincoat".

Today:
Uniform of the Day is as follows:
SHORT'S, and... 'Wait for Dow to Open,
In 20 Min's then place Entries!"
FUTURE's turning sour.

Chris's bull camp is winning tug of war ground,
here though! :0
Best of Pipping Nav,

Jeff!
i wont wanna fight a 4hr candle like that..one of the most powerfull signals u can get..but it does ned to close bearish...

i hear the otherside as well..1.60 being a solid support..
  • #171,160
  • Sep 30, 2009 8:19am Sep 30, 2009 8:19am
Quoting pso
nice call bb
thanks for reminding me of that level thati took profit and wait for another short above 1.61
cheers
Quoting roreki
Take me with you

i long @ 1.6028
Welcome aboard
Veni, Vidi, Vici (We came, we saw, we conquered)
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