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Cable Update (GBPUSD)

  • #184,981
  • Nov 27, 2009 9:47am Nov 27, 2009 9:47am
Quoting wormboy
Hope those who sold earlier cashed in

Sterling showing the possible reversal mentioned earlier:
1.http://www.forexfactory.com/showpost...stcount=184874

Chart below is the followup.
Enjoy the weekend.
lower position 220

The daily has clsed with a nice pin - the right eye? - no, just curious if can happen...

Peter
Jesus Christ is my only Lord !
  • #184,982
  • Nov 27, 2009 9:49am Nov 27, 2009 9:49am
Quoting manize
Hi Peter, how is your trade ? I hope nice pips gain by long !
Hi Manize

not exactly been at work

just took the TP from the morning post

Peter
Jesus Christ is my only Lord !
  • #184,983
  • Nov 27, 2009 9:52am Nov 27, 2009 9:52am
Quoting wormboy
Hope those who sold earlier cashed in

Sterling showing the possible reversal mentioned earlier:
1.http://www.forexfactory.com/showpost...stcount=184874

Chart below is the followup.
Enjoy the weekend.
You're right, I've got big problem on short this morning, but by boarding long already BE currently !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #184,984
  • Nov 27, 2009 9:56am Nov 27, 2009 9:56am
Quoting manize
You're right, I've got big problem on short this morning, but by boarding long already BE currently !
any way I am looking for short now

Peter
Jesus Christ is my only Lord !
  • #184,985
  • Nov 27, 2009 10:04am Nov 27, 2009 10:04am
Why do I look for short now,
I belive that the price has dropped to the kind of a box and now is trying to get up from it but,
if I find any sign of PA nature of possible down move I will not wait to short it



Peter
Attached Image (click to enlarge)
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Jesus Christ is my only Lord !
  • #184,986
  • Nov 27, 2009 10:43am Nov 27, 2009 10:43am
Take a look a what can result when a series of ema's converge,
gather and draw or pull together into a very tight configuration
(1 pip separation) even on the smallest of time frames - 1m chart.

Result: 100+ pips of movement.

I don't care if there was any news data associated with the
move...the magnitude of the move was driven off of a build
up of energy resulting from compression and then separation.

Dr. D.
Attached Image
  • #184,987
  • Nov 27, 2009 10:53am Nov 27, 2009 10:53am
Dear Dr.D,

Yes it is the rule that we usually have: exchange periods of consolidation and biger move and so on,
Your way of trading is similar to trading out of internal bars the smaller they are the more important move after,
it is great it works for You,


I personaly trade out of internal bars but on daily


Peter
Jesus Christ is my only Lord !
  • #184,988
  • Nov 27, 2009 12:48pm Nov 27, 2009 12:48pm
Quoting micho
Possible trades:

Short GBPJPY first target 146.34 (high probability trade, possible gap down)
Possible long EURCAD on signal (possible gap up)
All USD pairs in nowhere land (stand aside)
that was last week's menu... will get next week's menu after the weekly candle closes
When life gives you lemons, make lemonade
  • #184,989
  • Nov 27, 2009 12:58pm Nov 27, 2009 12:58pm
Quoting egkid
Long 1.6270 g/u
I don't like go long while trend is down but will take this retrace
Still open, Nice retrace
  • #184,990
  • Nov 27, 2009 1:23pm Nov 27, 2009 1:23pm
Quoting fourxtrader
Take a look a what can result when a series of ema's converge,
gather and draw or pull together into a very tight configuration
(1 pip separation) even on the smallest of time frames - 1m chart.

[i][color=#0000ff]Result:...
Hey, what emas do you use?
  • #184,991
  • Nov 27, 2009 1:38pm Nov 27, 2009 1:38pm
another small winner on the way most probably
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 13 KB
When life gives you lemons, make lemonade
  • #184,992
  • Nov 27, 2009 2:22pm Nov 27, 2009 2:22pm
short EURJPY at 129.69 target 127.28 adjustable

dont copy, at your risk
When life gives you lemons, make lemonade
  • #184,993
  • Nov 27, 2009 2:27pm Nov 27, 2009 2:27pm
Quoting micho
short EURJPY at 129.69 target 127.28 adjustable

dont copy, at your risk

Quote
target adjusted 128.74

after a second though, i will wait for a better price to come in... closed at -3
When life gives you lemons, make lemonade
  • #184,994
  • Nov 27, 2009 5:21pm Nov 27, 2009 5:21pm
Quoting sreeprakash
Sorry for being late... The indicator you seeing is v7, I have attached v8...

Really Thanks bro.
Sorry for delayed reply. I'm out all day
  • #184,995
  • Nov 27, 2009 5:58pm Nov 27, 2009 5:58pm
USDJPY next target 85.5x (possible gap down)
EURCAD next target 1.590x (possible gap up)
EURUSD and GPBUSD not so clear (possible gap up)
GPBJPY next target 140.3x (possible gap down)

When life gives you lemons, make lemonade
  • #184,996
  • Nov 27, 2009 6:03pm Nov 27, 2009 6:03pm
been busy week for me with hands full in multpiple instruments (gu , gj , options , futures)

any way here is my take on GU

yes we have a pin bar on daily

1.6500 is major s/r level that was tested today ( today being an odd day with ftse opening -4% and filling gap) , s&p still ended day down , but did almost fill the 30 points gap based on US banks having limited exposure to Dubai .. yeah right ... the UK banks liekly leant the money to Dubai but I wonder who has since then bought the debt.

I think we have a pattern form much like we did around 15th Sept , pin bar , up day pin bar then down move to bottom of channel

overall GU has hit top of channel (1.6800 to 1.5800) and has a long way to drop to bototm of channel. It seems we are in a 3 wave formation down and still in wave 3 ending about 1,6100 ,

Normal volumes will return to the market next week.

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #184,997
  • Nov 27, 2009 6:17pm Nov 27, 2009 6:17pm
Good day all,
I'd like to share my todays experience with you.

Morning when I see a short trade signal @1.6470 I entered it @1.6459 with SL @1.6492 & TP @ 1.6300.
the trade went to the green direction & my tight SL didn't hit for 2 hours so I had a positive feelings for that trade.
I closed my PC and took my car and drove to another city which is far away about 200 KM of my house.
Sure, frequently I look at my Black Berry to see my trade position.(Psychological behaviour)

when I saw the Price Action and its fast speed approaching the 1.6300 area and my profit is around 150 pip, I called my wife & told her to change the TP and set it @1.6259 to gain 200 pip. Greedy . (Psychological behaviour).

The price moved to 1.6290, 1.6280, 1.6275 so I smilled and closed my Black Berry with more confidence that my TP will be hit and never look at price all the day.

when I back to my home and started to open my laptop with a wide smile on my face to see my account with 25% gains, I.....................
shocked when my eyes picked my Balance.
--------------------------------------------------------------------
every day I learn a new lesson.
my todays lesson is:
1- Disipline
2- Stick to your plan.
3- Don't take decision when you can't see your charts.

Good Luck Fellas.
  • #184,998
  • Nov 27, 2009 6:38pm Nov 27, 2009 6:38pm
Quoting Baby-Trader
Good day all,
I'd like to share my todays experience with you.

I am not sure if you were aware of the previous major lows on 4hr chart at/around 1.6280 area.
As I learned the hard way, supports and resistances are areas not an exact number and I'd rather leave a few pips on the table instead of going for the last pip (when in profit).

Goodluck next time.
Never Trade without a defined risk, never, never, never.
  • #184,999
  • Nov 27, 2009 7:57pm Nov 27, 2009 7:57pm
This is my conception of what I believe could happen.....News not withstanding.
Attached Image (click to enlarge)
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  • #185,000
  • Nov 27, 2009 9:02pm Nov 27, 2009 9:02pm
Quoting Baby-Trader
Good day all,
I'd like to share my todays experience with you.
Eye opening bro...
Same or more cruel types of stories happening every time...
We learn from mistakes and we will avoid those in future....

ATB (all the best)
ABCD..
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