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Cable Update (GBPUSD)

  • #184,161
  • Nov 20, 2009 3:37am Nov 20, 2009 3:37am
Right! The second rule: don't be greedy.
  • #184,162
  • Nov 20, 2009 3:41am Nov 20, 2009 3:41am
Quoting navhin
probably i could hv waited for the price to drop down to 1.6540....since i went outstation, i fixed my TP.....so that i don't lose any pips....it's ok...250 pips is a lot for me...
You got nice pip++ ,Greedy not good and in my view 1.6570 STRONG Support so It 's "Risky" if you want that.
  • #184,163
  • Nov 20, 2009 3:52am Nov 20, 2009 3:52am
Quoting egkid
You got nice pip++ ,Greedy not good and in my view 1.6570 STRONG Support so It 's "Risky" if you want that.
Yeah, i am also out of my gu shorts but still holding eg long at .8850.

I have bought a small counter trade gu at 1.6566 ..(will short again at higher levels above 1.67)

I think 1.6500 is the last frontier for now, i will add if we approach that area.

A firm breach of 1.65 leads us to 1.6280
Some drink at the fountain of knowledge. Others just gargle !
  • #184,164
  • Nov 20, 2009 3:53am Nov 20, 2009 3:53am
i think i'm done with this week.....juz will be doing some scalping when there's opportunity...
  • #184,165
  • Nov 20, 2009 4:00am Nov 20, 2009 4:00am
E/U - E/G - G/U ALL in turning point if anyone Want to risk be careful
Plan-B : E/G expected 9030 but I'm done for this week
  • #184,166
  • Nov 20, 2009 4:06am Nov 20, 2009 4:06am
Looks like 6522 is the target...
Anyway, I closed my pos @ 6575
Attached Image
  • #184,167
  • Nov 20, 2009 4:45am Nov 20, 2009 4:45am
Got some pips!! Hurray...
  • #184,168
  • Nov 20, 2009 5:05am Nov 20, 2009 5:05am
Quoting malcolmb14
this is forming text book 5 wave ew

wave 4 ends in 1.1.6700 to 1.6730

target to downside based on 1-2-3 sell off that level = 1.6500

I know magik ...to many pretty colours for you

Attachment

Attachment

text book ...1.6700 ish then wave 5 down ito 1.6500 ish , could go as low as 1.6460
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  • #184,169
  • Nov 20, 2009 5:09am Nov 20, 2009 5:09am
As per yesterday anaylsis we trade around the bottom distribution until it had filled and formed a bell shape curve before attempting a retrace and test the 4hrly trend line we broke out of yesterday. Unfortunately we didnt pull back as far as I would of like and my sell order at 1.6687 (38.2 fib region, also resistance ledge on yesterdays profile) (chart 1) didnt get filled. But thats life. Instead we went upto 1.6677 which is exactly a a 23.8% fib retracement and in theory means this is a very strong down move (chart 3).

We have now surpassed the 1.66 pyschological barrier and are now headed towards the 1.6618 support level which is also the low from the 12th Nov. We could find plenty of buyers around here which would give us a decent retrace, hopefully as far as 1.6628 which is a strong ledge formed on the todays and yesterdays profile (Chart 2). This would give us a decent base to head further south.

Theres not much in way of figures out today for the cable so it should be pretty steady...We are likely to see profit taking today with it being friday and this should help us retrace a far back as 1.6628.

Another thing to note is we are at a key levels in the emini S&P. Looks like we maybe about to start a large sell off on the daily. The S&P selling of would bring G/U down with it. Basically all to do with flight to saftey. People pulling out of US stocks and going to the saftey of Bond (US Treasuries) which inturn strenghens the dollar. therefore send GU down with it. Emini and the GU have a strong correlation and have done so most of this year. (chart 4)
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  • #184,170
  • Nov 20, 2009 5:17am Nov 20, 2009 5:17am
This is a clear signal if you care (SHORT G/U N G/J DONT LOOK BACK)


Remember pipssignal dot com said so
  • #184,171
  • Nov 20, 2009 5:19am Nov 20, 2009 5:19am
nice to see someone else around here that uses market profile

Attached Image (click to enlarge)
Click to Enlarge Name: chart1265.png Size: 170 KB





Quoting Stocky Monk
As per yesterday anaylsis we trade around the bottom distribution until it had filled and formed a bell shape curve before attempting a retrace and test the 4hrly trend line we broke out of yesterday. Unfortunately we didnt pull back as far as I would of like and my sell order at 1.6687 (38.2 fib region, also resistance ledge on yesterdays profile) (chart 1) didnt get filled. But thats life. Instead we went upto 1.6677 which is exactly a a 23.8% fib retracement and in theory means this is a very strong down move (chart 3).

We have now surpassed...
Blogging daily now at www.volume.zone
  • #184,172
  • Nov 20, 2009 5:19am Nov 20, 2009 5:19am
SHORT G/U N G/J DONT LOOK BACK

Expecting 400-5oopips all on short thru next week

pipssignal dot com said so
  • #184,173
  • Nov 20, 2009 5:20am Nov 20, 2009 5:20am
Quoting fendi
This is a clear signal if you care (SHORT G/U N G/J DONT LOOK BACK)


Remember pipssignal dot com said so
lol ... nice sales job ... do you always call shorts so late ?
Blogging daily now at www.volume.zone
  • #184,174
  • Nov 20, 2009 5:25am Nov 20, 2009 5:25am
Quoting fendi
SHORT G/U N G/J DONT LOOK BACK

Expecting 400-5oopips all on short thru next week

pipssignal dot com said so
But my system says LONG from here, so I'll take opposite side.
My edge ===> Patience
  • #184,175
  • Nov 20, 2009 5:27am Nov 20, 2009 5:27am
Quoting malcolmb14
text book ...1.6700 ish then wave 5 down ito 1.6500 ish , could go as low as 1.6460
I think depends on next 90 min if didn't break-close under 65 then maybe we back retrace to 1.6620
Mal remember last time we was at 1.6530!!
  • #184,176
  • Nov 20, 2009 5:30am Nov 20, 2009 5:30am
Quoting Ben920FX
But my system says LONG from here, so I'll take opposite side.
it can be a gd position to go long...as it is in resistance region...however, u hv to observe the PA dude...it may retrace...careful..
  • #184,177
  • Nov 20, 2009 5:32am Nov 20, 2009 5:32am
we'll c whether the cable is able to break 1.6515....
  • #184,178
  • Nov 20, 2009 5:39am Nov 20, 2009 5:39am
Quoting egkid
I think depends on next 90 min if didn't break-close under 65 then maybe we back retrace to 1.6620
Mal remember last time we was at 1.6530

would not try picking a bottom on gu , not just yet

1.6460 , 1.6420 and even 1.6300 , then bounce to 1.6570 to 1.6600 ,

then 1.6000
Attached Image (click to enlarge)
Click to Enlarge Name: chart1267.png Size: 168 KB
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  • #184,179
  • Nov 20, 2009 5:51am Nov 20, 2009 5:51am
Quoting malcolmb14
lol ... nice sales job ... do you always call shorts so late ?
  • #184,180
  • Nov 20, 2009 5:53am Nov 20, 2009 5:53am
Quoting malcolmb14
lol ... nice sales job ... do you always call shorts so late ?
Ghost Rider - WWTBMD?
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