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Cable Update (GBPUSD)

  • #190,801
  • Jan 5, 2010 8:08am Jan 5, 2010 8:08am
Quoting meromar
market is ready for down that.s why first up to 6080

GO CABLE GO !!
  • #190,802
  • Jan 5, 2010 8:12am Jan 5, 2010 8:12am
Quoting jeremykhc
I plan to short from 1.6039
close position with 3pips profit, it didn't went pass 1.6026

Still holding 1 more short at 1.6054, set SL to 6950 trailing stop 25pips
  • #190,803
  • Jan 5, 2010 8:13am Jan 5, 2010 8:13am
wonder how long this sideways pattern will be end......
  • #190,804
  • Jan 5, 2010 8:16am Jan 5, 2010 8:16am
Quoting Ctic
But may still hit 1.5985 at some point during the day.

Not to shabby, called it within 5 pips on both the top and the bottom
  • #190,805
  • Jan 5, 2010 8:21am Jan 5, 2010 8:21am
Quoting dil
GO CABLE GO !!
dil, you didn't join the party, did you?
Patience + Discipline =
  • #190,806
  • Jan 5, 2010 8:23am Jan 5, 2010 8:23am
Quoting fourxtrader
As an empirical law of physics, the first law of thermodynamics
involves the law of conservation of energy as an empirical law
of physics. It states that the total amount of energy in an isolated
system (think of the marketplace)[i][color=blue][font=Verdana] remains constant over...
Like you said, energy can not be created nor destroyed, only transferred. It changes direction and is transferred (into my account)...
  • #190,807
  • Jan 5, 2010 8:23am Jan 5, 2010 8:23am
what happen to this market bad news a bout us dollar and dollar get strong

any one can tell me what is the way of the market?????
  • #190,808
  • Jan 5, 2010 8:28am Jan 5, 2010 8:28am
Looks like the future market is expecting a stronger dollar and a weaker pound. My long term bias is still short for cable.

Anyone else look at the COT reports.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: COTUSD.PNG Size: 31 KB
Click to Enlarge Name: COTGBP.png Size: 30 KB
  • #190,809
  • Jan 5, 2010 8:31am Jan 5, 2010 8:31am
Quoting piyeree
hello bro may i know what EMAs do yo use
No significance to the actual numbers as long as they are evenly spaced and in sequence and also cover a good range. Unlike other 'useful' uses of MA's as ever moving lines of S/R... I use them as a pattern to display a phenomenon that is repeating and consistently occuring in the marketplace... especially in the FOREX where there seems to be an 'unlimited' supply of dynamic energy (as seen liquidity).

It gives me a timing tool to locate impending trade opportunities that are imminent... as the energy can only be contained for a limited time (as when the EMA's compress tightly together on a particular TF) and then MUST ALWAYS release and then separate which translates into a very explosive PA and pip movement.

It's like, you must meet with your mother-in-law (it's a given). Your paths must converge... it's a law of life...but the interaction (friction / pressure that will build - like buyers vs. seller uncomfortably in full agreement on price) can only be tolerated just so long, before it's time to separate and escape. It takes a slow, tedious and methodical prodding by the spouse to bring you together but the exit is rapid and the relief is welcomed. hahaha

I use (6) 18, 36, 54, 72, 90, 108, 126, 144.

For different reasons, I'll often throw in some whole numbers like 100, 200 as areas to observe ... either as SMA's or EMA's and watch and see if they becomes areas of s/r to respect.

Magix often uses 24 and 55 (plus 200). Ctic often uses 24, 34, 144 and 169. Each for different reasons.

Dr. D.
  • #190,810
  • Jan 5, 2010 8:33am Jan 5, 2010 8:33am
Quoting Ctic
Like you said, energy can not be created nor destroyed, only transferred. It changes direction and is transferred (into my account)...
Sometimes (and perhaps more often) from my account to yours.

Keeping my day job... else I'd be 'sleepinginadumpter'.

Dr. D.
  • #190,811
  • Jan 5, 2010 8:34am Jan 5, 2010 8:34am
Quoting fourxtrader
No significance to the actual numbers as long as they are evenly spaced and in sequence and also cover a good range. Unlike other 'useful' uses of MA's as ever moving lines of S/R... I use them as a pattern to display a phenomenon that is repeating and consistently occuring in the marketplace... especially [i][color=blue][font=Verdana]in the FOREX where there...
If it breaks this spot next target should be 1.5943
  • #190,812
  • Jan 5, 2010 8:35am Jan 5, 2010 8:35am
Quoting egymedo
what happen to this market bad news a bout us dollar and dollar get strong

any one can tell me what is the way of the market?????
I asked that question a few months ago and was told it is due to bad news for the dollar triggering buying of US Bonds. Makes since when you think about it.
  • #190,813
  • Jan 5, 2010 8:35am Jan 5, 2010 8:35am
Quoting Jemmy
short at 6029 ; sl=6079
5994..take profit...
Patience + Discipline =
  • #190,814
  • Jan 5, 2010 8:37am Jan 5, 2010 8:37am
Quoting Ctic
If it breaks this spot next target should be 1.5943
Here I am tapping away on the keyboard
and not watching these patterns and
sudden undeniable movements.

Ouch.

Dr. D.
Attached Image
  • #190,815
  • Jan 5, 2010 8:44am Jan 5, 2010 8:44am
Now we have to see if the move continues or morphs into a 3-3-5 flat where we return to the 50% retrace high before down. Proving ground right now.
  • #190,816
  • Jan 5, 2010 8:45am Jan 5, 2010 8:45am
Quoting Jemmy
5994..take profit...
Hey jumpin jemmy - good trade
  • #190,817
  • Jan 5, 2010 8:46am Jan 5, 2010 8:46am

http://upload.wikimedia.org/wikipedi...s_down_inv.gif

THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #190,818
  • Jan 5, 2010 8:49am Jan 5, 2010 8:49am
Quoting fourxtrader
Here I am tapping away on the keyboard
and not watching these patterns and
sudden undeniable movements.

Ouch.

Dr. D.
OK, so you know WHEN something is gonna happen, but how do you identify what direction? Ive been watching your posts for a while, im just not totally sure how you know which way its going to break out?

Thanks...
Just focus on the pips. The rest is insignificant.
  • #190,819
  • Jan 5, 2010 8:53am Jan 5, 2010 8:53am
Quoting slick 60
Hey jumpin jemmy - good trade
thanks slick 60..just my luck..

I think cable will not move down again for today..

maybe NY close around 6015 daily S1..
Patience + Discipline =
  • #190,820
  • Jan 5, 2010 8:56am Jan 5, 2010 8:56am
Quoting Jemmy
thanks slick 60..just my luck..

I think cable will not move down again for today..

maybe NY close around 6015 daily S1..
Why do you think it will not go down further today? What reason?
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