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Cable Update (GBPUSD)

  • #179,041
  • Oct 27, 2009 5:54am Oct 27, 2009 5:54am
Quoting Bull_Bear
Yeah kinda over this place with a few idiots. I hop on and share my trades when i feel like it nowadays.

Yeah, I have a filter built in for those chaps and just ignore them!

But really do appreciate your and a few others input a lot, dont get me wrong, I dont sit around and try and hop on others ideas, I look for confirmation on what I already see, a lot of experience used to be around here, its a shame that a few idiots spoiled it a bit!

Best of luck, looking to join in on a short in a moment, just get the news out of the way first!
  • #179,042
  • Oct 27, 2009 6:01am Oct 27, 2009 6:01am
Closed short +2..choppy waters.....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,043
  • Oct 27, 2009 6:05am Oct 27, 2009 6:05am
Quoting javajames
Hi guys,



Maybe some of you know about Market Profile concepts, Steidlmayer's original work so wonderfully explained and extended by Jim Dalton.....I strongly recommend to advanced traders studying these concepts (very original and mind opening...)

Well good luck to all

Do you have pdf file of those....? Thank you
The Market pays you to be disciplined
  • #179,044
  • Oct 27, 2009 6:07am Oct 27, 2009 6:07am
Now, its my time to short. He is losing steam. sl 1.6500..
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  • #179,045
  • Oct 27, 2009 6:07am Oct 27, 2009 6:07am
Quoting antic81
Yeah, I have a filter built in for those chaps and just ignore them!

But really do appreciate your and a few others input a lot, dont get me wrong, I dont sit around and try and hop on others ideas, I look for confirmation on what I already see, a lot of experience used to be around here, its a shame that a few idiots spoiled it a bit!

Best of luck, looking to join in on a short in a moment, just get the news out of the way first!
Daily on my chart shows us up 100 from open, GREEN DAY, unless you are scalping might wanna wait for confirmation on longer time frames....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,046
  • Oct 27, 2009 6:08am Oct 27, 2009 6:08am
Quoting javajames
Hi guys,

Clearly traders' sentiment is bearish...that's a fact....coming news from Us are expected good....so fundies, trend and sentiment are bearish

But to-day is to day.....coming CBI from Gb is expected better than previous one and if I look at my chart below.....I see a bullish bias....so currently I'm long guys......but I might be wrong of course

Maybe some of you know about Market Profile concepts, Steidlmayer's original work so wonderfully explained and extended by Jim Dalton.....I strongly recommend to advanced traders studying these...
Hello Mate,

I haven't managed to find a decent MP indicator that plots out the individual letters so single prints and ledges can be easily identified with MT4. The best system I have found is through Pro Realtime charting which I use to trade bond futures but still no luck with MT4 . Do you have anything better???
Anyway best of luck with your Long positon.
  • #179,047
  • Oct 27, 2009 6:11am Oct 27, 2009 6:11am
Quoting Magix
Trying another short @ 1.6424
I throught the trend of GBPUSD is going up?
  • #179,048
  • Oct 27, 2009 6:13am Oct 27, 2009 6:13am
200MA support on 1m @ 1.6390
200MA support on 1hr @ 1.6400


Longer term short side confirmations, come after a breach and hold.

IMO
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,049
  • Oct 27, 2009 6:16am Oct 27, 2009 6:16am
short sl 16494
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  • #179,050
  • Oct 27, 2009 6:18am Oct 27, 2009 6:18am
Head and shoulder pattern on gbb/usd H1 chart. You may sell at 1.6420 and TP at 1.6265
Happy trading!
  • #179,051
  • Oct 27, 2009 6:21am Oct 27, 2009 6:21am
Quoting Magix
Daily on my chart shows us up 100 from open, GREEN DAY, unless you are scalping might wanna wait for confirmation on longer time frames....

Hi there,

I agree, but I do see a potential for us to start to stall now and fall away when US opens, we had some positive news out for the GBP that still did not push through the 1.6438 previous high.

Points of interest to me are around 6470, thats a 50% fib of the 1.6692 high to the 1.6250 low...

However if I do see a solid move down with a lower high set up, that may be enough to get me to pull the trigger on my sell...

I would not enter a long now.

However please dont look to me for any kind of advice, in fact do the opposite to me and judging by last weeks performance you'll be laughing all the way to the pip bank! lol!
  • #179,052
  • Oct 27, 2009 6:21am Oct 27, 2009 6:21am
Good day to you all,

Chart with levels I am watching... I am basically finished for the week. Chart attached, numbered and referenced:

1) Above the resistance at 1.6435, we have the 50% line of last week sitting @ 1.6466 - this is the last formal barrier in the way, should price want to move higher.
2) The 1.6435 area - immediate resistance was found there
3) This to me is a key level for any real attempt to the downside from here. We have yesterday's high here, sitting @ 1.6394, just below the 1.6400 round number. A break of this, will wait for a retest and rejection for further downward move..
4) Target then becomes 1.6343 - the 50% line of this week. In confluence with the upper level of the daily channel by low @ 1.6344.
5) Should this level go, we may move down to today's open @ 1.6333

Expected level of close today @ 1.6355

Hope this is of some assistance to you.

Wish you all success

Regards
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  • #179,053
  • Oct 27, 2009 6:25am Oct 27, 2009 6:25am
I bought at 6403, middle east are buying gbp, that's why i'm on the north side, 6440 was a small resistance level and looks like gbp/eur could go down to 9000 again, and that could shoot cable up. Will be cautious and am playing with smaller when usual size.
  • #179,054
  • Oct 27, 2009 6:26am Oct 27, 2009 6:26am
Quoting antic81
Hi there,

I agree, but I do see a potential for us to start to stall now and fall away when US opens, we had some positive news out for the GBP that still did not push through the 1.6438 previous high.

Points of interest to me are around 6470, thats a 50% fib of the 1.6692 high to the 1.6250 low...

However if I do see a solid move down with a lower high set up, that may be enough to get me to pull the trigger on my sell...

I would not enter a long now.

However please dont look to me for any kind of advice, in fact do the opposite...
Just saying, longer term players shouldn't be looking for a short side until 200ma is at least breached on the 1m chart. (Scalping tool).

Because we just cruised through the 200MA on the hourly, we have decent support with that and potential of a better long side than short.

I am not trying to tell you to long or short at this moment...

But under basic assumption and the standard traders credo, let the trend be your friend, current trend is long...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #179,055
  • Oct 27, 2009 6:29am Oct 27, 2009 6:29am
nice statement tautrader, thx
  • #179,056
  • Oct 27, 2009 6:33am Oct 27, 2009 6:33am
Good day to you,

Further to my post - I am basically finished for the week. 17 trades entered since Sunday night open. Was a good week.

There are more than enough opportunities to enter better probability trades. I am starting to get comfortable with the way I trade and are getting patient enough to start staying out..

The way I see it - a trade entered with a -50 pip loss due to itchy fingers, actually sets you back 100 pips. Not only 50, as you could have had a +50 with a patient entry..

I wish you all the best of success

Regards
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Attached Image
  • #179,057
  • Oct 27, 2009 6:36am Oct 27, 2009 6:36am
Quoting Magix
Just saying, longer term players shouldn't be looking for a short side until 200ma is at least breached on the 1m chart. (Scalping tool).

Because we just cruised through the 200MA on the hourly, we have decent support with that and potential of a better long side than short.

I am not trying to tell you to long or short at this moment...

But under basic assumption and the standard traders credo, let the trend be your friend, current trend is long...
Very good point and thats why I have not entered yet, However we are close to falling back to the 200 MA on the 1HR now, lets see what happens when it gets there!
  • #179,058
  • Oct 27, 2009 6:36am Oct 27, 2009 6:36am
Quoting TauTrader
Good day to you,

Further to my post - I am basically finished for the week. 17 trades entered since Sunday night open. Was a good week.

There are more than enough opportunities to enter better probability trades. I am starting to get comfortable with the way I trade and are getting patient enough to start staying out..

The way I see it - a trade entered with a -50 pip loss due to itchy fingers, actually sets you back 100 pips. Not only 50, as you could have had a +50 with a patient entry..

I wish you all the best of success

Regards
u hv done a gd job..happy for u..
  • #179,059
  • Oct 27, 2009 6:40am Oct 27, 2009 6:40am
Quoting TauTrader
Good day to you,

Further to my post - I am basically finished for the week. 17 trades entered since Sunday night open. Was a good week.

There are more than enough opportunities to enter better probability trades. I am starting to get comfortable with the way I trade and are getting patient enough to start staying out..

The way I see it - a trade entered with a -50 pip loss due to itchy fingers, actually sets you back 100 pips. Not only 50, as you could have had a +50 with a patient entry..

I wish you all the best of success

Regards
Nice!

I really hope I can one day have that type of Strike rate!

Good work!
  • #179,060
  • Oct 27, 2009 6:41am Oct 27, 2009 6:41am
Quoting TauTrader
Good day to you,

Further to my post - I am basically finished for the week. 17 trades entered since Sunday night open. Was a good week.

There are more than enough opportunities to enter better probability trades. I am starting to get comfortable with the way I trade and are getting patient enough to start staying out..

The way I see it - a trade entered with a -50 pip loss due to itchy fingers, actually sets you back 100 pips. Not only 50, as you could have had a +50 with a patient entry..

I wish you all the best of success

Regards
u are the man bro keep the good work
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