Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#184,381
Nov 23, 2009 9:06am Nov 23, 2009 9:06am

alex1976
| Joined Jun 2009 | Status: Trader | 1,198 Posts

the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?

#184,382
Nov 23, 2009 9:09am Nov 23, 2009 9:09am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting alex1976

Disliked

the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?

Ignored

could You pls post a cart because some of us have still many hrs till the close of the day

Thank You

Peter

Jesus Christ is my only Lord !

#184,383
Nov 23, 2009 9:13am Nov 23, 2009 9:13am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Quoting alex1976

Disliked

the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?

Ignored

We are caught in a compression zone. The daily favors the bull, but movement supports a retrace and drop.

I still have no confirmation on an hourly chart - 24SMA breach, hold and support....H1

Until then, it is a gamble.

I did take short signal on the 5m, 1.6624, entering for 1.6619. S/L is @ BE....

It is a goofy day.

Weekly IMO still supports a longside, but only time will tell.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,384
Nov 23, 2009 9:18am Nov 23, 2009 9:18am

skerdi-meta
| Joined Feb 2009 | Status: I'm the guy in the middle, so u kno | 294 Posts

Quoting alex1976

Disliked

the daily looks like its shaping up to be an inside day, so does this translate through to further downward movement?

Ignored

yeah, but still some 6 hrs 2 go central eu time. And the volume very low 2day,, haf that of the last well 4 and a half months.... Probably the traders dont wanna get in trades 2day because they r waiting the busy week ahead

#184,385
Nov 23, 2009 9:19am Nov 23, 2009 9:19am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

The chart as I see it....

Compression zone, Blue circle.
Support, Green circle.
Resistance, Red circle.

Tripped out @ BE...Gunna wait for confirmation....I do feel a fall coming, but I am going to wait for a directional break. Gambling, not my style.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,386
Nov 23, 2009 9:35am Nov 23, 2009 9:35am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Quick 15 pip scalp, exited hitting 200EMA on 5m chart....

OKAY, Now, I'm gunna wait for a break!

Maybe...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,387
Nov 23, 2009 9:53am Nov 23, 2009 9:53am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Interesting position of current price...

H4 and H1 support area. A breach, hold and close, will support a further drop.

Hold of this area, supports the weekly bull...

The suspense builds.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,388
Nov 23, 2009 10:17am Nov 23, 2009 10:17am

allserene
| Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts

Quoting Magix

Disliked

Interesting position of current price...

H4 and H1 support area. A breach, hold and close, will support a further drop.

Hold of this area, supports the weekly bull...

The suspense builds.

Ignored

Me too

as usual I am getting in early for a north bound as I like the 15m chart

However I am watching it constantly and any fall off sees me out toot sweet !

Yes it's on the cusp

Made a bundle on shares again but taken some of the largest profits and when it falls again, I will be into ETF RTR which is the S&P ADR index - it's basically every huge company in the world outside the US and a great play on a weaker dollar as it's unhedged. Hoping for a double whammy on dollar weakness plus company dividends

While we don't know which individual companies will suddenly fall, etf index funds are being used by even large investment houses

...and me coz I am chicken chow mein

#184,389
Nov 23, 2009 10:28am Nov 23, 2009 10:28am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Whew, thanks allserene...I am glad somebody responded, I was beginning to think I was the last one left playing cable today....

I am not getting a great loving feeling for the longside of the chart as of just yet, and have scalped a few plays favoring the bears so far, but am sitting tight and waiting for the break...

I have in the meantime, painted a wall and planted some grass, this gives me something equally as boring to watch...paint dry, grass grow...as today's movement...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,390
Nov 23, 2009 10:31am Nov 23, 2009 10:31am

fourxtrader
Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts

Speaking of compression zones... as far as multiple ema's are concerned they are all over the place in every time frame in different stages .... some are forming tightly as with the 15m chart here... some on other tf's have broken apart in their cycle and are beginning to gather again as with this 5m chart.

If the 5m and 15m ema's will continue to coil together tightly in this current trading range it could produce the energy to spring loose either upward to continue the 1h compression or downward to gather the daily. Each zone obviously takes a certain time relative to the tf. Smaller tf's help build the larger.

It would be interesting to see if there is any correlation between these compression patterns as they move together to maturity and then apart into separation and any other trading analysis such as elliott wave.

Dr. D.

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#184,391
Nov 23, 2009 10:31am Nov 23, 2009 10:31am

allserene
| Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts

Quoting Magix

Disliked

Whew...I am glad somebody responded, I was beginning to think I was the last one left playing cable today....

I am not getting a great loving feeling for the longside of the chart as of just yet, and have scalped a few plays favoring the bears so far, but am sitting tight and waiting for the break...

I have in the meantime, painted a wall and planted some grass, this gives me something equally as boring to watch...paint dry, grass grow...as today's movement...

Ignored

You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so

#184,392
Nov 23, 2009 10:37am Nov 23, 2009 10:37am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Quoting allserene

Disliked

You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so

Ignored

FWIW...I have selected this week as my make or make. Confidence has built to a point where I have been very successful over the last few weeks, and have turned scalping into an almost art form.

I have my contract termination letter ready for sending, my account loaded and my mind set solid....Now all I need is a play range a little better than the NY session has provided.

Will this be the week that I go into the game full hearted with guns a blazing?

I am only asking $500-$1000/day, is that really to much?

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#184,393
Nov 23, 2009 10:39am Nov 23, 2009 10:39am

fourxtrader
Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts

Quoting allserene

Disliked

You will know it's getting to you when you paint the grass and plant a wall.
I am watching a hawk tear the head of an oregon dark eyed junco that i tempted into my garden with bird seed.

Unintended consequences indeed.

DOW resting at 123 up - profit takers like me...

perhaps another surge in an hour or so

Ignored

I watched a O.Duck upend a pesty A.Wildcat this weekend on the gridiron.

Great game.

Dr. D.

#184,394
Nov 23, 2009 10:44am Nov 23, 2009 10:44am

Endrju
| Joined Apr 2009 | Status: Trader | 285 Posts

i'm going long at 6595 because on 5 15 min and 1h hourly time frames stochastics have rolled over and bullish possibility is there now, overall sentiment is dollar negative and i'm thinking that tommorow we could see near 6720, which is 38.2 fibo from 6875-6460, and i at the moment hourly candle looks like won't close under 6600 this could mean that there is some resistance and go till asian open to 6650. Eur/gbp stochastics also favor a fall, that could help

#184,395
Nov 23, 2009 10:54am Nov 23, 2009 10:54am

allserene
| Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts

Quoting fourxtrader

Disliked

I watched a O.Duck upend a pesty A.Wildcat this weekend on the gridiron.

Great game.

Dr. D.

Ignored

American football is just something that happens to other people - though my 'trouble and strife' watches it all sunday. I have a peek at the cheerleaders as I pass through the room. Free pole dancers at the football but no nippies on the beach !

I knew a wildcat that tried to upend a duck - but couldn't get up for down

enough of this levity , back to the task - made a dime on my long - what a boost !

#184,396
Nov 23, 2009 11:01am Nov 23, 2009 11:01am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting Endrju

Disliked

i'm going long at 6595 because on 5 15 min and 1h hourly time frames stochastics have rolled over and bullish possibility is there now, overall sentiment is dollar negative and i'm thinking that tommorow we could see near 6720, which is 38.2 fibo from 6875-6460, and i at the moment hourly candle looks like won't close under 6600 this could mean that there is some resistance and go till asian open to 6650. Eur/gbp stochastics also favor a fall, that could help

Ignored

on 15 min we have a pin bar out of 38% fibo so more likely it will go down

- I do not like small TF

Peter

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