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Cable Update (GBPUSD)

  • #190,621
  • Jan 4, 2010 10:36pm Jan 4, 2010 10:36pm
Quoting Ctic
Go back on the charts to December 9th - December 15th. We may have a situation like that setting up again. We shall find out. If so easy way to make pips playing the inside candles. Play on the bottom long, Play on the top short. Keep tight SL though.
Well so far so good. up 32 pips using this already. Set moving SL so that I can not drop below 25 pips.
  • #190,622
  • Jan 4, 2010 10:39pm Jan 4, 2010 10:39pm
Enter a long @ 1.6100, will close at 1.6125....

Thanks for the advise Ctic
  • #190,623
  • Jan 4, 2010 10:41pm Jan 4, 2010 10:41pm
Quoting Ctic
Go back on the charts to December 9th - December 15th. We may have a situation like that setting up again. We shall find out. If so easy way to make pips playing the inside candles. Play on the bottom long, Play on the top short. Keep tight SL though.

So here's two daily charts showing that the
candles on both 12/9 and 1/4 having long wicks
(shadows) [HL] and smaller bodies [OC] suggesting
indecision so a trading range was established over 6
session on 12/9 with 1.6375 H and 1.6265 L.

I wouldn't mind see another a 200+ pips range.

Dr. D.
Attached Images
  • #190,624
  • Jan 4, 2010 10:45pm Jan 4, 2010 10:45pm
Quoting fourxtrader
So here's two daily charts showing that the
candles on both 12/9 and 1/4 having long wicks
(shadows) [HL] and smaller bodies [OC] suggesting
indecision so a trading range was established over 6
session on 12/9 with 1.6375 H and 1.6265 L.

I wouldn't mind see another a 200+ pips range.

[color=blue][i]Dr....
Dr. D,

I was thinking the exact same thing. +200 pips each way +400 pips per day...hmmm I think I can live off that lol.
  • #190,625
  • Jan 4, 2010 10:53pm Jan 4, 2010 10:53pm
So, where are we going?
  • #190,626
  • Jan 4, 2010 10:54pm Jan 4, 2010 10:54pm
Quoting jeremykhc
Enter a long @ 1.6100, will close at 1.6125....

Thanks for the advise Ctic
The H on the last daily candle (1/04) was 1.6239.
You have another 100 pips potential and still remain
in the range Ctic might be suggesting.

Watching this range.

Dr. D.
Attached Image
  • #190,627
  • Jan 4, 2010 10:56pm Jan 4, 2010 10:56pm
Quoting jeremykhc
So, where are we going?
ATM it is just channeling. Until it breaks 1.6058 or 1.62411 it isn't really going anywhere. But like Dr D. says it is a large range.
  • #190,628
  • Jan 4, 2010 10:56pm Jan 4, 2010 10:56pm
Quoting Ctic
Dr. D,

I was thinking the exact same thing. +200 pips each way +400 pips per day...hmmm I think I can live off that lol.

Ctic,

I need to raise my expectations X2 and use your charts.

Dr. D.
  • #190,629
  • Jan 4, 2010 10:57pm Jan 4, 2010 10:57pm
Quoting fourxtrader
The H on the last daily candle (1/04) was 1.6239.
You have another 100 pips potential and still remain
in the range Ctic might be suggesting.

Watching this range.

Dr. D.
Thanks for the advise...
  • #190,630
  • Jan 4, 2010 10:59pm Jan 4, 2010 10:59pm
Quoting jeremykhc
Thanks for the advise...
The best advise you received was the caution on your SL
given by Ctic.

Dr. D.
  • #190,631
  • Jan 4, 2010 11:06pm Jan 4, 2010 11:06pm
Quoting Ctic
Well so far so good. up 32 pips using this already. Set moving SL so that I can not drop below 25 pips.
Well lets see what happens here. I got stopped out at +27 pips and with the drop got back in long @ 1.60849
  • #190,632
  • Jan 4, 2010 11:08pm Jan 4, 2010 11:08pm
Quoting Ctic
Well lets see what happens here. I got stopped out at +27 pips and with the drop got back in long @ 1.60849
Did the same thing at 1.6086 a couple mins ago.

Would be quite nice if it just stuck to this range. Makes life a lot easier lol
  • #190,633
  • Jan 4, 2010 11:09pm Jan 4, 2010 11:09pm
Quoting fourxtrader
The best advise you received was the caution on your SL
given by Ctic.

Dr. D.
Was following it closely :-)
  • #190,634
  • Jan 4, 2010 11:15pm Jan 4, 2010 11:15pm
Quoting Ctic
ATM it is just channeling. Until it breaks 1.6058 or 1.62411 it isn't really going anywhere. But like Dr D. says it is a large range.

Here's another supporting chart to follow.

I'll enter long off of this support or if it breaks free of 1.6135.

Dr. D.
Attached Image
  • #190,635
  • Jan 4, 2010 11:22pm Jan 4, 2010 11:22pm
Wait... I only trade off of compression.

Here's the two charts nearest to that pattern.

Dr. D.
Attached Images
  • #190,636
  • Jan 4, 2010 11:22pm Jan 4, 2010 11:22pm
Quoting kasooi
Did the same thing at 1.6086 a couple mins ago.

Would be quite nice if it just stuck to this range. Makes life a lot easier lol

I closed that out at +6 pips, there is a descending triangle on the RSI, maybe it could break down?
Might not be a strong breakout since it is only on the RSI though....

But I am not gonna trust putting in longs with that triangle there...
  • #190,637
  • Jan 4, 2010 11:26pm Jan 4, 2010 11:26pm
Quoting fourxtrader
Wait... I only trade off of compression.

Here's the chart nearest to that pattern.

Dr. D.
Dr. D,

With this compression and the time of day we may see a break down to hit the 138.2 fib on the 15M chart. Thus that would be the fake out and then off to the moon. We shall see. That wouldn't happen until the 1 am to 2am range EST. We shall see.
  • #190,638
  • Jan 4, 2010 11:37pm Jan 4, 2010 11:37pm
Quoting Ctic
Dr. D,

With this compression and the time of day we may see a break down to hit the 138.2 fib on the 15M chart. Thus that would be the fake out and then off to the moon. We shall see. That wouldn't happen until the 1 am to 2am range EST. We shall see.
Can you give a price for that 138.2 fibo.

I forgot to post the 1m chart which is right at compression
and now already moving.

Dr. D.
  • #190,639
  • Jan 4, 2010 11:38pm Jan 4, 2010 11:38pm
Quoting Ctic
Well lets see what happens here. I got stopped out at +27 pips and with the drop got back in long @ 1.60849
Closed out of this trade @1.61128 due to the possibility of a bounce back down.
  • #190,640
  • Jan 4, 2010 11:41pm Jan 4, 2010 11:41pm
Quoting fourxtrader
Can you give a price for that 138.2 fibo.

I forgot to post the 1m chart which is right at compression
and now already moving.

Dr. D.
Not sure yet until the 4H candle closes @ 1am on my charting system but rough estimate would be around 1.6040
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