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Cable Update (GBPUSD)

  • #178,221
  • Oct 22, 2009 1:30am Oct 22, 2009 1:30am
Quoting Magix
Betcha that came sooner than expected...
Good day to you,

The lowest I have had is 1.6580.... I think I am going to adjust my entry to 1.6560 - thinking that the support must be broken, some fresh longs taken out that sit behind this level and then back up...

I see you are having a cracker of a week?

Regards
  • #178,222
  • Oct 22, 2009 1:32am Oct 22, 2009 1:32am
Quoting Magix
Dude...you should really start looking at charts and studying the market.

I hope your not playing with a live money account.
No, im still in demo account, i really trying learn from you guys, hope few months later have a little more experience.

thanks to all.
  • #178,223
  • Oct 22, 2009 1:34am Oct 22, 2009 1:34am
Quoting TauTrader
Good day to you,

The lowest I have had is 1.6580.... I think I am going to adjust my entry to 1.6560 - thinking that the support must be broken, some fresh longs taken out that sit behind this level and then back up...

I see you are having a cracker of a week?

Regards
It has been good. Even grabbed a quick short, first one I've played in a few days off of top...seen her pause and nailed her for 5 lots. Only rode it down for 20 pip, making it an even hun on the play...CHA CHING.

Anyways...on the long thing...Throw a 200ma on a 5m chart. We have just lost support on the 5, first time we been below 200ma since we blasted through @ 163 and change...

I think the play has stopped short of 1.67 for a reason. Now that all the bears gone bull, we gunna take a bull market and feed it to the bears.

Watching really close, we at some critical points.

IMO, if we drop support of the 24ma on the hourly, and hold below for the next 2 hrs, I would be seriously reconsidering the longside plays.

Regards

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,224
  • Oct 22, 2009 1:45am Oct 22, 2009 1:45am
Good day to you,

Yes, I have mixed charts and cautious - therefor the small 20 to 30 pip trade planned. Looked at my chart again - lowest I got was 1.6579. If we get back a bit lower - I will still take it.

I believe that even if we go down later, we will still see the resistance @ 1.6635 broken first.

Wish you all success
  • #178,225
  • Oct 22, 2009 1:49am Oct 22, 2009 1:49am
Quoting TauTrader
Good day to you,

Yes, I have mixed charts and cautious - therefor the small 20 to 30 pip trade planned. Looked at my chart again - lowest I got was 1.6579. If we get back a bit lower - I will still take it.

I believe that even if we go down later, we will still see the resistance @ 1.6635 broken first.

Wish you all success
79 was the low on the chart...samsies here.

I just took a short @ 1.66, see what I can grab here....closed...+15


Scalping singles until I see confirmation on direction.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,226
  • Oct 22, 2009 1:51am Oct 22, 2009 1:51am
Then first let it retrace to and bounce off of the
UTL and the fib 23.6 on the Daily around 1.6400.

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: daily tl retrace3.gif Size: 12 KB
Attached Images
  • #178,227
  • Oct 22, 2009 1:55am Oct 22, 2009 1:55am
Dropping support here, shows no support until 1.6519....on the hourly.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,228
  • Oct 22, 2009 1:59am Oct 22, 2009 1:59am
Plenty of volume since FO yesterday just above the 6600 level which has yet to translate into a break out - either up or down.....now was it distribution or profit taking with more accumulation? Either way its setting up for a nice move.....I'm long off the pull back to the 6575 area, looking to see a fourth test of yesterdays highs.....
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1256194042
Trading Levels with WRBs
  • #178,229
  • Oct 22, 2009 2:01am Oct 22, 2009 2:01am
...
Attached Image (click to enlarge)
Click to Enlarge Name: GDOx.JPG Size: 96 KB
  • #178,230
  • Oct 22, 2009 2:20am Oct 22, 2009 2:20am
Quoting grashid
If u dare for swing...i think should be fine...

Attach is my old setting in June 09 where I saw will play back now....

6580 may flip H1 gann where I believe will tell u the confirmation of the down movement to at least 6510/20...

Atm still ranging and better stay aside...
As I say H1 may flip below gann if break below 6580 and now it does...

Here u go 6530/20...close below DP 6530.....possibility 6450-6420 DS1 tomorrow...

Just a matter of QQE to cross below 50 line....

Good Luck
Attached Image (click to enlarge)
Click to Enlarge Name: 3.JPG Size: 114 KB
  • #178,231
  • Oct 22, 2009 2:25am Oct 22, 2009 2:25am
Quoting TauTrader
Good day to you,

Yes, I have mixed charts and cautious - therefor the small 20 to 30 pip trade planned. Looked at my chart again - lowest I got was 1.6579. If we get back a bit lower - I will still take it.

I believe that even if we go down later, we will still see the resistance @ 1.6635 broken first.

Wish you all success
Good day,

Seems I missed my entry. Over cautious. Have to go and do some work. Did however get in on EU @ 1.4976. SL @ 1.4935 and TP 1.5040

Good luck!

Regards
  • #178,232
  • Oct 22, 2009 2:30am Oct 22, 2009 2:30am
G/M all.

3rd test of this previous 1hr swing hi=prev res=potential rbs zone that has now become a prev sw lo zone also...obvious demand here, but will be wary on any 4th test, wary of demand being erased by supply...

Trend remains up to 4hr t/f with yesterday's candle closing bullish and body engulfing bearish body of previous. Is there more upside to come?

http://i37.tinypic.com/2ajvqwz.gif

Uk Retail Sales data @ 0830am gmt

G/L
ex member
  • #178,233
  • Oct 22, 2009 2:40am Oct 22, 2009 2:40am
Good day to U'all... Looks like we got to sit this today. Umh?! i still waiting for a Good with all stop "Green" to enter on the "SHORT". But now i sit and wait, thanks to the indecisive "Dollar".

Good Trading the London session.
  • #178,234
  • Oct 22, 2009 2:45am Oct 22, 2009 2:45am
Current 1hr channel is shown in pic below, scenario A may play out with a bearish or bullish thrust candle close b/o of channel might be a hi-probability play, or scenario B = congestion-2nd b/o ie retest of channel before true b/o

http://i36.tinypic.com/11goobr.gif

G/L
ex member
  • #178,235
  • Oct 22, 2009 2:47am Oct 22, 2009 2:47am
To short the cable now is sucidial... But wait, I see it coming soon.
  • #178,236
  • Oct 22, 2009 2:48am Oct 22, 2009 2:48am
Closed shorts, 3 lots, 2@20, 1@30 total +70!

CHA CHING!

Might well end the evening on a good note...

See you guys for NY session!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,237
  • Oct 22, 2009 2:51am Oct 22, 2009 2:51am
Quoting bbmac
Current 1hr channel is shown in pic below, scenario A may play out with a bearish or bullish thrust candle close b/o of channel might be a hi-probability play, or scenario B = congestion-2nd b/o ie retest of channel before true b/o

http://i36.tinypic.com/11goobr.gif

G/L


Testing which channel... Can't see a Tube either, but there she goes again Down. "The Trend is your Friend"
  • #178,238
  • Oct 22, 2009 2:53am Oct 22, 2009 2:53am
Quoting GlobalMacro
Good Morning,

Buying more at these bargain levels here @ 1.5712

Long AvgPrc now @ 1.5748
Good Morning,

I'm Exiting My Entire Long Position @ 1.6580

+868 pips from 1.5712
+759 pips from 1.5821
+240 pips from 1.6340

Total Booked Profit: +1867 pips

My Position Is Now F L A T !
Attached Image
Hear the music before the song is over ...
  • #178,239
  • Oct 22, 2009 2:55am Oct 22, 2009 2:55am
Quoting GlobalMacro
Good Morning,

I'm Exiting My Entire Long Position @ 1.6580

+868 pips from 1.5712
+759 pips from 1.5821
+240 pips from 1.6340

Total Booked Profit: +1867 pips

My Position Is Now F L A T !
  • #178,240
  • Oct 22, 2009 2:56am Oct 22, 2009 2:56am
Quoting GlobalMacro
Good Morning,

I'm Exiting My Entire Long Position @ 1.6580

+868 pips from 1.5712
+759 pips from 1.5821
+240 pips from 1.6340

Total Booked Profit: +1867 pips

My Position Is Now F L A T !
Daily chart still in your favour GM. The parabolic sar (dots) have started to accerelate showing momentum to the upside. Maybe around 1.67ish by the end of today.
You've got to be IN IT to WIN IT!
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