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Cable Update (GBPUSD)

  • #193,321
  • Jan 14, 2010 10:02pm Jan 14, 2010 10:02pm
My adivice to those traders that want to trade G/U is not to trade it. Instead we will see lot's of volatility in E/U, as we saw it today.

Why am I saying that?

Because there won't be any good news out of EU Zone only bad, especially from Germany and possibly Spain.

So we might see 1.4200-1.4300 area tonight.

I have this feeling that keep all the bad news for Friday for some reason!
  • #193,322
  • Jan 14, 2010 10:12pm Jan 14, 2010 10:12pm
New candle formation I believe to have seen on the M15...

Gunna call it the flacid.

Whatta ya think?

If this don't say that cable losing strength, nothing does!
Attached Image (click to enlarge)
Click to Enlarge Name: flacid15.jpg Size: 95 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,323
  • Jan 14, 2010 10:33pm Jan 14, 2010 10:33pm
Quoting kilalik
My adivice to those traders that want to trade G/U is not to trade it. Instead we will see lot's of volatility in E/U, as we saw it today.

Why am I saying that?

Because there won't be any good news out of EU Zone only bad, especially from Germany and possibly Spain.

So we might see 1.4200-1.4300 area tonight.

I have this feeling that keep all the bad news for Friday for some reason!
Its because of EUR/GBP bearish triangle.
  • #193,324
  • Jan 14, 2010 10:35pm Jan 14, 2010 10:35pm
Quoting intrepid1
Its because of EUR/GBP bearish triangle.
yes you are right. pound has the strength over eur. plus it's all over the news that gbp is the safer currency of europe for now.
  • #193,325
  • Jan 14, 2010 10:37pm Jan 14, 2010 10:37pm
Quoting Magix
New candle formation I believe to have seen on the M15...

Gunna call it the flacid.

Whatta ya think?

If this don't say that cable losing strength, nothing does!

Magix,

I think that is a sad looking chart. lol
  • #193,326
  • Jan 14, 2010 10:39pm Jan 14, 2010 10:39pm
did some news just trigger that spike up???
  • #193,327
  • Jan 14, 2010 10:41pm Jan 14, 2010 10:41pm
Quoting konrad20
did some news just trigger that spike up???
No, the fact that this has been in an uptrend triggered the spike up. Play the charts. The beauty of strong trends is when it is trending, you don't need to think, just trade what you see.
  • #193,328
  • Jan 14, 2010 10:44pm Jan 14, 2010 10:44pm
Quoting Ctic
Magix,

I think that is a sad looking chart. lol
>>Snickers<<

How was yer week mango?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,329
  • Jan 14, 2010 10:45pm Jan 14, 2010 10:45pm
Quoting vlady1974
You build it and they will come!

Great to see BB, ForexLion come out. BB I've definitely made some ££ riding some of your calls. LOL ... now this year gonna try and understand why!
Vlady.... Good to hear you making some dosh.

To understand my calls, they are evry easy and simple. If you look at my charts it is simple..... Thats it! Know you support resistence, trends (both long and short term) and fibs.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #193,330
  • Jan 14, 2010 10:45pm Jan 14, 2010 10:45pm
No need for news... just compression.

Just another perspective.

Dr. D.
Attached Image
  • #193,331
  • Jan 14, 2010 10:49pm Jan 14, 2010 10:49pm
Quoting Magix
>>Snickers<<

How was yer week mango?
Well, all things considering, i got over this terrible cold that I had and made a few bucks along with it. I traded from home as I was too sick to drag my ass into my office. It's a bitch trading with only 3 screens (4 if you count my laptop. I played it short until it broke the 100 fib for the weekly chart (4H) and then played it up for the past few days. And yourslef? I played with the compression charts and the fibs what I could (when I wasn't hacking up a lung.)
  • #193,332
  • Jan 14, 2010 10:50pm Jan 14, 2010 10:50pm
Who needs candlesticks with charts like this.

Once I gave them suckle for sustenance, now they
adorn my platform like decorative vestigial ornaments.

These 9 EMA's were packet neatly together like sardines...
all within ~2-3 pips. Compression => Energy.

Dr. D.
Attached Images
  • #193,333
  • Jan 14, 2010 10:51pm Jan 14, 2010 10:51pm


ok let me get my gas tank
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpx.gif Size: 35 KB
Click to Enlarge Name: cable.gif Size: 21 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #193,334
  • Jan 14, 2010 10:52pm Jan 14, 2010 10:52pm
Quoting Ctic
Well, all things considering, i got over this terrible cold that I had and made a few bucks along with it. I traded from home as I was too sick to drag my ass into my office. It's a bitch trading with only 3 screens (4 if you count my laptop. I played it short until it broke the 100 fib for the weekly chart (4H) and then played it up for the past few days. And yourslef? I played with the compression charts and the fibs what I could (when I wasn't hacking up a lung.)
Cripes man, are you gunna be okay, or forward an address for where I should ship the flowers?

Actually, I am quite ashamed of my week. Played through it like a total dick. I spent a lot of time working on my system, kinks n what not, but played mostly counter trend taking 3 bad trades for a draw down of like 24 or something...A move this size...I am just short of 400 on the week and have traded about 1/3 of my regular week....

Feeling a little sheepish...oh well, theres always next week.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,335
  • Jan 14, 2010 10:59pm Jan 14, 2010 10:59pm
H1/H4 stays above DP Today 1.6309/12, want long but patient ....patient ...... waiting for London session open !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,336
  • Jan 14, 2010 11:00pm Jan 14, 2010 11:00pm
Quoting Magix
Cripes man, are you gunna be okay, or forward an address for where I should ship the flowers?

Actually, I am quite ashamed of my week. Played through it like a total dick. I spent a lot of time working on my system, kinks n what not, but played mostly counter trend taking 3 bad trades for a draw down of like 24 or something...A move this size...I am just short of 400 on the week and have traded about 1/3 of my regular week....

Feeling a little sheepish...oh well, theres always next week.
I will be fine, unless my wife kills me first. I am sure I drove her nuts this week. Yeah, I played countertrend at first. Played the gap on Sunday that never filled. Once it broke that 100 fib I knew it was going to hit the 138.2 or 161.8. Monday I thought would bounce off that fib, didn't happen. Then Quickly changed positions. I guess I could of done better but hey, positive for the week is ok. I have been working on a couple methods here myself. Can't do much when your just lying around..
  • #193,337
  • Jan 14, 2010 11:01pm Jan 14, 2010 11:01pm
Quoting Ctic
Well, all things considering, i got over this terrible cold that I had and made a few bucks along with it. I traded from home as I was too sick to drag my ass into my office. It's a bitch trading with only 3 screens (4 if you count my laptop. I played it short until it broke the 100 fib for the weekly chart (4H) and then played it up for the past few days. And yourslef? I played with the compression charts and the fibs what I could (when I wasn't hacking up a lung.)
Kindly explain why you need more than 4 screens, coz clearly i need to add some more,what are the advantages?.Quick recovery though!
  • #193,338
  • Jan 14, 2010 11:04pm Jan 14, 2010 11:04pm
Quoting Magix
New candle formation I believe to have seen on the M15...

Gunna call it the flacid.

Whatta ya think?

If this don't say that cable losing strength, nothing does!
Attached Image (click to enlarge)
Click to Enlarge Name: ggg.png Size: 100 KB


Yep, that about says it all.
It's Easy To Get In;.. It's Hard To Get Out
  • #193,339
  • Jan 14, 2010 11:08pm Jan 14, 2010 11:08pm
lol
  • #193,340
  • Jan 14, 2010 11:11pm Jan 14, 2010 11:11pm
i think the pound is oversold against most currencies, bringing up gu, and not allowing it to go down, even though the usd is gaining ground.
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