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Cable Update (GBPUSD)

  • #185,381
  • Dec 1, 2009 10:26pm Dec 1, 2009 10:26pm
Quoting dpyang
Is anybody still short? still in trade short @ 1.6620
Im short from 1.6628, moved SL to BE
Considering long on EURGBP
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  • #185,382
  • Dec 1, 2009 10:33pm Dec 1, 2009 10:33pm
Quoting dpyang
Is anybody still short? still in trade short @ 1.6620
I am short from 6624
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #185,383
  • Dec 1, 2009 10:44pm Dec 1, 2009 10:44pm
Quoting Magix
Will watch and wait for confirmation, but as guestimated before, buy line will be @ approx 1.6580...200EMA shows 1.6585. I will wait and look to buy this price on the way back up.

Hey, how bout that bounce line?

Kinda kewl hey?

Aight...Whutever....

A few personal mods here, check out the new styling me! Fancy avatar n everything...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,384
  • Dec 1, 2009 10:48pm Dec 1, 2009 10:48pm
Quoting samdani786
I am short from 6624

I'm short 1.6635
  • #185,385
  • Dec 1, 2009 10:57pm Dec 1, 2009 10:57pm
Looking for 24SMA on 5m to hold support again.

Still directionally challanged signals, all over the planet, short term down, longer term up....Shrugs shoulders, guess I will just plays em as I sees em!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,386
  • Dec 1, 2009 11:09pm Dec 1, 2009 11:09pm
Look familiar?

See where the ema's converged back on 11/26 10:00 GMT
on this 1h chart and then shot down nearly 400 points from
that point of tightest compression (over 400 total). A very
similar pattern is forming again and if a tight compression
develops there will be another explosion... guaranteed.

However, there can never be a guarantee on the direction.
That anyone's guess or good analysis.

On the previous move show here, trading only off of the 1h chart
and waiting for the ema's to release from their tight compression
will only lead to a late entry (from ~1.6641); whereas, drilling down
on the charts to a lower time frame (see this 5m chart illustration)
you can often find another compression and separation that will
occur hours earlier (5 in this case)... and clearly a better entry level
(1.6700... ~60 pips higher).

Some have said, the movements seen on larger tf charts are the
result of cumulative movements developing from smaller tf charts.

Dr. D.
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  • #185,387
  • Dec 1, 2009 11:14pm Dec 1, 2009 11:14pm
we need to break 6587. If it can do that then we should see a new run lower. The overall looks seems to be down though...
  • #185,388
  • Dec 1, 2009 11:19pm Dec 1, 2009 11:19pm
Quoting Scrmnegl
I'm short 1.6635


this is my long term crazy view
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #185,389
  • Edited 11:42pm Dec 1, 2009 11:20pm | Edited 11:42pm
Quoting fourxtrader
Look familiar?

See where the ema's converged back on 11/26 10:00 GMT
on this 1h chart and then shot down nearly 400 points from
that point of tightest compression (over 400 total). A very
similar pattern is forming again and if a tight compression
[i][color=#0000ff]develops...

Agree we are coming close to something serious happening...and direction is always the question....

For me, logic dictates the continuation of direction from London close to London open. As we see London carry price back up from a deep dive, we see that price has returned to where London close was, kind of like the rest of the day never happened. (My little yellow box indicator...)predictor.

Anyways...

I sees it like this...the Americans brought it up higher instead of crashing it back into the basement. London gets to carry the torch from where she left off. The race was to the north side...Let's run with the bulls!

Now this makes for a beautiful story, and maybe even an entertaining read...I have taken profit on longs, then shorts, then longs, then shorts again...sure seems like its time for another long...or, more short...I care, as long as I am making money?? Pshhhh...

Incidentally...I did take a small bite on a long...though I am sure I was trying to get it a little cheaper...price shows me @ 1.66
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,390
  • Dec 1, 2009 11:48pm Dec 1, 2009 11:48pm
I see a pending short coming up. It still looks like its a couple of hours away though. I'll see if it materializes.

I went long on the eur/gbp at .9080
  • #185,391
  • Dec 1, 2009 11:48pm Dec 1, 2009 11:48pm
I'm watching the 5m chart and the price action as it
oscillate above and below these converging ema's.
This is building pressure to later release and either push
the 1h chart further up into compression or release downward
to assist the 4h into further convergence and compression.

Either way the larger time frames rely on the energy generated
from movements buillding in the smaller time frames.

Dr. D.
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  • #185,392
  • Dec 1, 2009 11:49pm Dec 1, 2009 11:49pm
got in long EURUSD again at 1.5081 target 1.5121

looking to add one short at USDJPY on signal target 86.10 unless my friends in BOJ plan for a surprise meeting again
When life gives you lemons, make lemonade
  • #185,393
  • Dec 1, 2009 11:54pm Dec 1, 2009 11:54pm
[quote=Magix;3275011]Agree we are coming close to something serious happening...and direction is always the question....

I too agree we are coming to a point where something can happen here. This stopped at a weekly fib line and a good spot to continue a longer downturn. Each high point has become lower and lower on this chart for quite a while now with lower lows as well. But if it should break up from here, we will go for a new higher high on the daily chart. At this point I am not speculating but rather waiting for the price movements to show me the direction they will take it. If I had to guess, I would play on the side of short but I don't like to guess. I can only hope that I have a better night tonight than I did yesterday. A 200 pip daily candle and I was only able to bank 70 pips. Well I guess its better than an loss.
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  • #185,394
  • Dec 1, 2009 11:54pm Dec 1, 2009 11:54pm
Quoting micho
got in long EURUSD again at 1.5081 target 1.5121

looking to add one short at USDJPY on signal target 86.10 unless my friends in BOJ plan for a surprise meeting again
they're all about their "surprise" meetings which is why i'm out of the yen crosses during asia. They opened their mouth earlier which is why it shot up to 87.
  • #185,395
  • Dec 1, 2009 11:55pm Dec 1, 2009 11:55pm
Its reallllllly trying to push down. Once the Brits wake up we will start seeing some movement.
  • #185,396
  • Dec 1, 2009 11:55pm Dec 1, 2009 11:55pm
Quoting Magix
Agree we are coming close to something serious happening...and direction is always the question....

For me, logic dictates the continuation of direction from London close to London open. As we see London carry price back up from a deep dive, we see that price has returned to where London close was, kind of like the rest of the day never happened. (My little yellow box indicator...)predictor.

Anyways...

I sees it like this...the Americans brought it up higher instead of crashing it back into the basement. London gets to carry the torch from...
At least you provide insights into direction. I'll leave that to you. When
I see one of my charts ripe and ready to explode... I start looking through
the thread to see what Magix I can find for a clearer direction.

Dr. D.
  • #185,397
  • Dec 1, 2009 11:58pm Dec 1, 2009 11:58pm
Quoting fourxtrader
I'm watching the 5m chart and the price action as it
oscillate above and below these converging ema's.
This is building pressure to later release and either push
the 1h chart further up into compression or release downward
[i][color=#0000ff]to assist the 4h into further convergence...
I have seen charts like yours before. Which EMA's make up the chart if I may ask. That could be a good addition to the indicators I use.
  • #185,398
  • Dec 2, 2009 12:05am Dec 2, 2009 12:05am
[quote=Ctic;3275060]
Quoting Magix
Agree we are coming close to something serious happening...and direction is always the question....

I too agree we are coming to a point where something can happen here. This stopped at a weekly fib line and a good spot to continue a longer downturn. Each high point has become lower and lower on this chart for quite a while now with lower lows as well. But if it should break up from here, we will go for a new higher high on the daily chart. At this point I am not speculating but rather waiting for the price movements to...
Pshhh, last Thursday as I pushed the trigger on sell, my internet died!

I made more on the small retrace than on the fall. And I was charting the whole friggen thing on my thread.

Sigh...we all have them days mango. That's why I scalp for singles, and when all charts are in line...I hammer down 5/10 lots...

But I am still a hobbiest....

Quoting fourxtrader
At least you provide insights into direction. I'll leave that to you. When
I see one of my charts ripe and ready to explode... I start looking through
the thread to see what Magix I can find for a clearer direction.

Dr. D.
Sure starting to feel like a snow globe play here...SHAKE SHAKE SHAKE...

I really hate to base any daily chart on a single candle...Especially when we sit right @ resistance, but it is a really nice looking candle.

OF course, I am neither biased towards either of the 2, as I always say, as long as I am making money, go where ever you want....

This is a pretty tight play here. A long ways away from 4hr chart support and right @ daily resistance, unable to crack through the 30m chart resistance for further bull plays.

Oh, it's pucker time.

I have a tight s/l set, and will be heading off to bed soon...not really worried either way.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,399
  • Dec 2, 2009 12:06am Dec 2, 2009 12:06am
Quoting sed34
they're all about their "surprise" meetings which is why i'm out of the yen crosses during asia. They opened their mouth earlier which is why it shot up to 87.
its at 87 as target to the earlier trend before the meeting, should go down later
When life gives you lemons, make lemonade
  • #185,400
  • Dec 2, 2009 12:12am Dec 2, 2009 12:12am
Quoting Scrmnegl
Its reallllllly trying to push down. Once the Brits wake up we will start seeing some movement.
All the charts are crying to go down. But I'd like to see
it range. Just look at this 4h and the gathering ema's.
A good move down would pinch them tighter than the
Columns of Morgagni at an Ex-Lax Convention. LOL

Dr. D.
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