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Cable Update (GBPUSD)

  • #179,561
  • Oct 28, 2009 4:07pm Oct 28, 2009 4:07pm

1 of 1

EURO-DOLLAR: Euro stalls near $1.4690 but struggles to rally back
over $14700 Traders look for some support around $1.4670/80 the lows
from Oct 89 12. An option at $1.4680 said to expire Thursday may
stall a down move initially.

10/28/2009 4:30:03 PM

EURO-DOLLAR
Euro stalls near $1.4690 but struggles..
  • #179,562
  • Oct 28, 2009 4:08pm Oct 28, 2009 4:08pm
Quoting malcolmb14
sorry ... but this is so wrong

do you really think pros would be buying at resistance ? come on

that is ALL sellers hitting gu at 1.6460 prior resistance. That is why the high vol

best example i can find is top of ej here

price rose another 30 pip , and is now 300 pip lower

Attachment
it seems to me that the highest vol occured at the almost concurrent break out of GU and the GBP index.
  • #179,563
  • Oct 28, 2009 4:13pm Oct 28, 2009 4:13pm
update
Attached Image (click to enlarge)
Click to Enlarge Name: 4h gbp.gif Size: 21 KB
  • #179,564
  • Oct 28, 2009 4:16pm Oct 28, 2009 4:16pm
Quoting frito
it seems to me that the highest vol occured at the almost concurrent break out of GU and the GBP index.

what are you referring to as break out ... can you highlight on the chart please .

I thought you were talking about 1.6400 area

as we can see ..all seller .... testing daily pivot
Blogging daily now at www.volume.zone
  • #179,565
  • Oct 28, 2009 4:25pm Oct 28, 2009 4:25pm
Quoting wormboy
I would've alerted you if you came on skype
dollar close to 76.6 already, I'm gonna take all @4675

Did you take cable @6460 level earlier bro? That was a freebie
Any chance to join you in a skype session bro. No problem if you can't but would appreciate an opportunity. Thanks.
You've got to be IN IT to WIN IT!
  • #179,566
  • Oct 28, 2009 4:32pm Oct 28, 2009 4:32pm
Quoting malcolmb14
what are you referring to as break out ... can you highlight on the chart please .

I thought you were talking about 1.6400 area

as we can see ..all seller .... testing daily pivot
M, i was talking about the 1.6380 break coinciding with the index break out.
cheerz
  • #179,567
  • Oct 28, 2009 4:35pm Oct 28, 2009 4:35pm
Quoting wormboy
I would've alerted you if you came on skype
dollar close to 76.6 already, I'm gonna take all @4675

Did you take cable @6460 level earlier bro? That was a freebie
my internet connection is very funny, keep disconnecting with the skype..nah i never added to it cause price action is crazy..ive been in the trade 2 days now same position as posted in yur journal
  • #179,568
  • Oct 28, 2009 5:01pm Oct 28, 2009 5:01pm
back to october 9-12 .. would the market go back to same positions. ?!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DXYH4.JPG Size: 151 KB
Click to Enlarge Name: GBPUSD H4.JPG Size: 160 KB
Click to Enlarge Name: DOW.JPG Size: 164 KB
Click to Enlarge Name: EURUSD.JPG Size: 168 KB
  • #179,569
  • Oct 28, 2009 5:49pm Oct 28, 2009 5:49pm
shit is so weird right now...

euro free fall looking for buying opps @ 1.4450 which is also target of broken daily wedge - target 1.48... just absolute no brainer levels which are so clear cut on daily - retrace has a high chance of some quick short covering bounce because of round number and super visible prev support @ 1.4450 to ultimately form h&s/two-diagonal diamond @ 1.48 to top the move. watch these levels they only hold a very high potential of giving temporary POSSIBLE support do not trust them ... pls

an exceptional trading buddy of mine says "obvious situations require obvious decisions" how simple is that ?


as for cable...what a cluster fuck right ?
remember.... only experienced range traders like Mal can get out of these sticky "is it a bear flag/is it a bull accumulations to attack 1.67 ? "... (do not ask me how i came with that number just look at the chart)
Mal and others like him are not greedy cuz they know their weakness is oftern swing/greed trading rather than defensive/range expextation trading

so...cable..really i had a gun in my face...judging by h4 e/gbp looks like gbp is relatively stronger than eur for the moment.....so i`d say gu goes up but be careful of a gay dip below 1.6250 only to confuse like it always does
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #179,570
  • Oct 28, 2009 5:59pm Oct 28, 2009 5:59pm
Quoting bags1
whats your target

i have same 6345 buy target 6450 where have a sell in place with bearish gartley signal is looking good

woke up this morning happy days
  • #179,571
  • Oct 28, 2009 6:05pm Oct 28, 2009 6:05pm
Quoting bags1
woke up this morning happy days

Gartleys, fartlys, buterflies and bats.

Its all nonsense.

All you need is price.
  • #179,572
  • Oct 28, 2009 6:08pm Oct 28, 2009 6:08pm
Quoting djambazov84
shit is so weird right now...

euro free fall looking for buying opps @ 1.4450 which is also target of broken daily wedge...

not being funny but i cant for the life of me understand why people are optimistic with long when cable weekly is showing a massive rejection..looking at dailly look how small the bullish bodies are..

no doubt its staying up i dunno how..but its staying up!!!!

i admit i will not be to surprised especailly since im short...LOL
BUT probability wise surely a short is favourable...anyways time will tell
  • #179,573
  • Oct 28, 2009 6:15pm Oct 28, 2009 6:15pm
Quoting nAVIN2007
not being funny but i cant for the life of me understand why people are optimistic with long when cable weekly is showing a massive rejection..looking at dailly look how small the bullish bodies are..

no doubt its staying up i dunno how..but its staying up!!!!

i admit i will not be to surprised especailly since im short...LOL
BUT probability wise surely a short is favourable...anyways time will tell


Nav, I totally agree with you.

pin on weekly plus the last three daily candles are very week.

I think it just price taking a breather from the big down move last week.

Lets see.
  • #179,574
  • Oct 28, 2009 6:18pm Oct 28, 2009 6:18pm
Quoting nAVIN2007
not being funny but i cant for the life of me understand why people are optimistic with long when cable weekly is showing a massive rejection..looking at dailly look how small the bullish bodies are..

no doubt its staying up i dunno how..but its staying up!!!!

i admit i will not be to surprised especailly since im short...LOL
BUT probability wise surely a short is favourable...anyways time will tell

look im probably as early dollar bull...2 weeks premature to be exact on dollar together with mal and worm..guess what i still am but that is what i think...not what I see. I hope u get the difference

i am just trading what i see and i agree with rejection on higher timeframes and as ultimate bear target i have at least local weekly low test but i also like to make money on any side so to me it always moves east and i trade what i see albchr could prbobably attest to that ...

i just try to leave my attitude at the door and and pick very high prob trades no matter what the direction since i only trade cable almost exclusively right now because even when its in a range u can always have conservative targets that repond to the very CURRENT sentiment versus the weekly/monthly direction which are two almost always conflicting things
do not get foold if gu is temporary bullish it WILL try to go as high as few could even dare predict... so drop ur bias love ur chart


peace
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #179,575
  • Oct 28, 2009 6:19pm Oct 28, 2009 6:19pm
Quoting alex1976
Nav, I totally agree with you.

pin on weekly plus the last three daily candles are very week.

I think it just price taking a breather from the big down move last week.

Lets see.
yup
Quoting djambazov84
look im probably as early dollar bull...2 weeks premature to be exact on dollar together with mal and worm..guess what i still am but that is what i think...not what I see. I hope u get the difference

i am just trading what i see and i agree with rejection on higher timeframes and as ultimate bear target i have at least local weekly low test but i also like to make money on any side so to me it always moves east and i trade what i see albchr could prbobably attest to that ...

i just try to leave my attitude at the door and and pick very...
yes i hear yah bud..u sound exactly how im thinking...hence i will not be surprised..
im dollar bulls same time as azim....i just lost hope in it..till now cause it is actually looking bullish..hehe

My justification is just the weekly time frame..thats what im playing..i should have waited for a break of the low but i decided on a aggressive approach..time will tell..thats all we have
Attached Image (click to enlarge)
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  • #179,576
  • Oct 28, 2009 6:21pm Oct 28, 2009 6:21pm
Quoting alex1976
Nav, I totally agree with you.

pin on weekly plus the last three daily candles are very week.

I think it just price taking a breather from the big down move last week.

Lets see.
stop being a muppet and try to be always humbled by market direction and go with it and learn how to take trend trades when u have agreeing signals on multiple timeframes starting even sometimes from monthly...drop ur attitude or u`ll probably end up burned if u do not get lucky. these days volatility in every single market is so unpredictable that it quickly kicks u in the balls when u open ur mouth with an opinion
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #179,577
  • Oct 28, 2009 6:26pm Oct 28, 2009 6:26pm
[quote=djambazov84;3186725]stop being a muppet and try to be always humbled by market direction and go with it and learn how to take trend trades when u have agreeing signals on multiple timeframes starting even sometimes from monthly...drop ur attitude or u`ll probably end up burned if u do not get lucky. these days volatility in every single market is so unpredictable that it quickly kicks u in the balls when u open ur mouth with an opinion[/quote

Dude, I was just agreeing with Nav's view, so why you don't give him a scolding.

Or you too scared because hes got 10v's and Ive got non?LOL

By the way Ive done 20 percent the last two months, so drop ur attitude you biased tool!
  • #179,578
  • Oct 28, 2009 6:28pm Oct 28, 2009 6:28pm
Quoting nAVIN2007
yup


yes i hear yah bud..u sound exactly how im thinking...hence i will not be surprised..
im dollar bulls same time as azim....i just lost hope in it..till now cause it is actually looking bullish..hehe

My justification is just the weekly time frame..thats what im playing..i should have waited for a break of the low but i decided on a aggressive approach..time will tell..thats all we have

u might have just sold a temporary bottom if it does not break in 1 day its going at least till 61fib on that drop last week
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #179,579
  • Oct 28, 2009 6:32pm Oct 28, 2009 6:32pm
Quoting djambazov84
u might have just sold a temporary bottom if it does not break in 1 day its going at least till 61fib on that drop last week
yes that is very true...i simply expected the weekly pin to do its thing and it aint..so far..

your aware of j16 material..im also in affect playing the bearish outside bar..these are the 2 signals and bearish diverence on weekly..but i wont lie..its a risky trade to say the least

the bearish outside bar is also twice the size of the others...LOL that helps
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  • #179,580
  • Oct 28, 2009 6:34pm Oct 28, 2009 6:34pm
Dude, I was just agreeing with Nav's view, so why you don't give him a scolding.

Or you too scared...[/quote]


to be honest i do not give a shit if he has 20 or 200 vs nor am I biased at all if u read what i wrote...and about the attitude i think you fail to realise difference between attitude and just honest straight talk/advice that comes from a couple of years of 18 hours a day sitting on charts and wathing them candle by candle by candle and so on ...even on weekends sometiems...that completely shattered my attitude trust me..

do not get confused with attitude and and straight advice...
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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