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Cable Update (GBPUSD)

  • #175,341
  • Oct 13, 2009 12:24am Oct 13, 2009 12:24am
Quoting wormboy
you must be long
ook like a bull flag in 1 hours of pound, euro and gold

what u think about it.

I think its just lolly pop and a a retrace or a bull trap like we saw before after the data market is going down

If u see dollar index a very bearish bear flag in daily also and 4 hours.
  • #175,342
  • Oct 13, 2009 12:28am Oct 13, 2009 12:28am
Quoting pakitrader
look like a bull flag in 1 hours of pound, euro and gold

what u think about it.

I think its just lolly pop and a trap like we saw before after the data market is going down
wsalam bro.

I try not to think or overanalyse too much. Just trade it. lol
The H1, whichever way she breaks, we take
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Thank You
  • #175,343
  • Oct 13, 2009 12:29am Oct 13, 2009 12:29am
Hi guys. Ive been reading a lot of your replies and there were very helpful. Thank you very much for those.

There is a divergence on the 5M

[IMG]file:///C:/DOCUME%7E1/User/LOCALS%7E1/Temp/moz-screenshot.png[/IMG]
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  • #175,344
  • Oct 13, 2009 12:31am Oct 13, 2009 12:31am
Quoting wormboy
yeh me too, only to add further. I don't play with fire
hence I longed dragon on low vol test 141.50

holding till 142.50 / 143 test I think

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Blogging daily now at www.volume.zone
  • #175,345
  • Oct 13, 2009 12:31am Oct 13, 2009 12:31am
Hi WB,

Are you flat, as of yet? Just wondering?

Any fibre trades 4 you?

X-

Quoting wormboy
wsalam bro.

The H1, whichever way she breaks, we take
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,346
  • Oct 13, 2009 12:32am Oct 13, 2009 12:32am
Quoting wormboy
you must be long
oK, I admit I take LonG on G/U. My mistake to put Long is it?
  • #175,347
  • Oct 13, 2009 12:38am Oct 13, 2009 12:38am
Quoting XTrade
Hi WB,

Are you flat, as of yet? Just wondering?

Any fibre trades 4 you?

X-

Hi X.

Nope, not flat. Click on the chart here :
http://www.forexfactory.com/showpost...stcount=175322

Those are my short positions.
Thank You
  • #175,348
  • Oct 13, 2009 12:38am Oct 13, 2009 12:38am
Depends on TF.

May be too early to tell.

I am long Fibre for 80+ pips and long G/U
against my style from 5757

Quoting forex888
oK, I admit I take LonG on G/U. My mistake to put Long is it?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,349
  • Oct 13, 2009 12:41am Oct 13, 2009 12:41am
Quoting XTrade
To briefly change subject..

I have been watching GBP/AUD (if any one has nickname please share)

Take a quick look @ chart..

edit= BTW- H4 char with day hi -lo outlined

XTrade,

All across the board, against all pairs, AUD currently is strongest.

Dr. D.

Here's why.

http://www.menafn.com/qn_news_story_...yid=1093276370

Commodity currencies advanced against dollar, Aussie top performer[IMG]linkscanner://safe.gif/[/IMG]
Oct 12, 2009 ... Commodity currencies advanced against dollar, Aussie top performer ... and New Zealand Dollar (NZD) all rising against the Greenback (USD). ... EUR/USD: The currency pair fell on Friday after a strong rally on Thursday. ...
  • #175,350
  • Oct 13, 2009 12:43am Oct 13, 2009 12:43am
Quoting forex888
oK, I admit I take LonG on G/U. My mistake to put Long is it?

gu target 1.5900 min ... buyers 1.5750 and again 1.5780 test

this bs move down in asia is just test demand.

I except to see gj 143 and gu 1.5900 with in 12 hrs
Blogging daily now at www.volume.zone
  • #175,351
  • Oct 13, 2009 12:47am Oct 13, 2009 12:47am
Quoting forex888
oK, I admit I take LonG on G/U. My mistake to put Long is it?
Oh no, I don't even care about your mistake. Your money, not mine.
But in this post here: http://www.forexfactory.com/showpost...stcount=175325

you mentioned the weekly cup handle. Well to start with, the weekly confirmation is taken on the close, much like any other tf. Second there isn't a reversal on the weekly that can even remotely suggest the cup & handle WILL play out, hence the statement "the Cup and Handle Pattern has formed and it looks to trigger soon" is misleading.
And since we're on the subject of weekly, attached below is the cable weekly fan up to date. Cable opened UNDERSIDE of the 50, for now it's not even worth considering large move up & cup handle formation is a suggestion of such.
Trade what you see, not what you expect.
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Thank You
  • #175,352
  • Oct 13, 2009 12:55am Oct 13, 2009 12:55am
XTrade,

All across the board, against all pairs, AUD currently is strongest.

Dr. D.

And here's also why....

Australia is the world's largest gold producer.

1. Asian Stocks Gain as Gold Rises to Record; BHP, Newcrest Climb ...
Oct 7, 2009 ... Newcrest, Australia's largest gold producer, jumped 6.7 percent to A$35.15 ... a measure of shipping costs for commodities, rose 3.3 percent ...
www.bloomberg.com/apps/news?pid=20601091&sid=aP... - Similar -
2. Australia's booming $8 billion gold industry | 08 September 2009 ...
Sep 8, 2009 ... 'Uranium is a hot and bullish commodity' ... world's largest gold producer, Barrick Gold Corporation, was Australia's largest producing mine ...
www.commodityonline.com/.../Australia’s-booming-$8-billion-gold-industry-20967-3-1.html - Cached - Similar -
3. News Item: Newmont to become World's Largest Gold Producer
Nov 16, 2001 ... Newmont is a leading world gold producer with operations in 8 countries, ... Australia, Normandy is Australia's largest gold company, ...
www.azom.com/details.asp?ArticleID=1056 - Cached - Similar -
by L Roles
4. VOA News - New Gold Rush in Australia Boosts Global Supply
Sep 19, 2009 ... Australia is poised to overtake South Africa and the U.S. as the world's second-largest producer of gold as new mines boost output to meet a ...
  • #175,353
  • Oct 13, 2009 1:00am Oct 13, 2009 1:00am
Morning all,

So this morning we are not sitting very far away for the low from yesterday 1.5723...I would like to exercise some patience here to see what happens, do we head away from that level, which is the lowest since the 28th of September, or do we bust through...
I have found that although I use the small TF's I am beginning to rely a lot more on these higher time frames for confirmation.

Looking at the M5 chart I can see that the short term long is looking pretty good - short term scalping only, I should think, as the larger TFs still show a definate down trend.

Good Luck!
  • #175,354
  • Oct 13, 2009 1:00am Oct 13, 2009 1:00am
Yes I read about some of these in the news.

Thank you for posting these valuable links. Had I left my short GBP/AUD open ...


Quoting fourxtrader
XTrade,

All across the board, against all pairs, AUD currently is strongest.

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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,355
  • Oct 13, 2009 1:18am Oct 13, 2009 1:18am
Hey Dude,

I do not know what your style or "method" is, from my own experience I have grown to prefer using higher TF as destination. and lower TF as entry.

I am beginning to prefer staying in trades for multiple days or hours.

BTW. Short GBP/AUD since last post. + 30 Pip gain, ie; based on what I saw on high TF and 5 min for entry.!

Quoting antic81
Morning all,

Looking at the M5 chart I can see that the short term long is looking pretty good - short term scalping only, I should think, as the larger TFs still show a definate down trend.

Good Luck!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,356
  • Oct 13, 2009 1:19am Oct 13, 2009 1:19am
Good day to you all,

Current levels in play. Numbered and referenced:

1) Price currently remains above the low of last month @ 1.5769. If you have no short position at the moment, this has to be broken before you can consider.
2) The 50% line of the week @ 1.5804 has been a barrier to the upside in the narrow range since yesterday. Should price break here, we also need to first clear (3) the Friday low @ 1.5824

4) Above this we also have the weekly open @ 1.5837.

A lot of barriers sitting to the upside - less to the downside. Once we pass 1.5765, price may quickly progress to 1.5727.

Wish you all success
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  • #175,357
  • Oct 13, 2009 1:21am Oct 13, 2009 1:21am
Good Sell... So sorry. Good day to U'all trders.
  • #175,358
  • Oct 13, 2009 1:28am Oct 13, 2009 1:28am
Quoting XTrade
Hey Dude,

I do not know what your style or "method" is, from my own experience I have grown to prefer using higher TF as destination. and lower TF as entry.

I am beginning to prefer staying in trades for multiple days or hours.

BTW. Short GBP/AUD since last post. + 30 Pip gain, ie; based on what I saw on high TF and 5 min for entry.!
Hey bud,

Yip, pretty much exactly the same, 4 HR as a reference and M5 as an entry.

Only thing is I am a scalper, with an innitial target of just 30 pips, then I look to see what kind of momentum we have at that point, then 40 pips if its good and if its really good I may push the boat out and go for 50! These are small trades in comparison to WB and a lot of others including yourself, I run a tight stop of just 20 pips and try to take 40 more times than not.

Right now I am looking seriously at a short, however waiting for a nice little retrace and then jumping on the train south!

I really want to see if we can break yesterdays low, its looking pretty good for that move now...
  • #175,359
  • Edited 2:01am Oct 13, 2009 1:40am | Edited 2:01am
Long 1.5742, dare loss 22 pips till 1.5720 !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #175,360
  • Oct 13, 2009 1:41am Oct 13, 2009 1:41am
Quoting Fx1618
Would not have mind being in that one from Friday afternoon :-)

I was short since Friday on the GU, but got stopped out for a measly 3 odd pips earlier this morning (banking 110), got a re-entry for a short at 0700 gmt @ 1.5750 and now its a case of sitting on my hands not to get cold feet.
Sitting on once hands for over 20 hrs, does not do it any good, but this time it did the trade well. Currently at BE + some, will have to see what the rest of the trade delivers... Happy Pip'n to all.
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