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Cable Update (GBPUSD)

  • #193,901
  • Jan 18, 2010 6:47am Jan 18, 2010 6:47am
Quoting sibajnok
Staying one side (bearish) is not so profitable and enjoyable but I enjoy it, too!
Nice job ! Plan your trade and trade your plan ! It is the key to survive in the wild jungle fx !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,902
  • Jan 18, 2010 6:58am Jan 18, 2010 6:58am
Quoting manize
Nice job ! Plan your trade and trade your plan ! It is the key to survive in the wild jungle fx !
I always like to hear this sentence from you, because I can confirm that it works!

GL buddy
  • #193,903
  • Jan 18, 2010 7:13am Jan 18, 2010 7:13am
Quoting sibajnok
I always like to hear this sentence from you, because I can confirm that it works!

GL buddy
Btw seems like I'll reconsider to go short again, watching the PA on next H1/H4 close/open vs 1.6309/12 or vs 1.6354/67 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,904
  • Edited 7:41am Jan 18, 2010 7:40am | Edited 7:41am
Quoting manize
Nice job ! Plan your trade and trade your plan ! It is the key to survive in the wild jungle fx !
I had posted about a week ago that I planed to sell around daily fibo 50 number. (daily chart below, chart 2). The reason was simple: I use only some indicators (you can see my opinion about indicators in my profile), and I respect fibo 50 number. As you can see, PA respects it, too

My target for this week is around 6170. Take a look at chart 1.

For today my plan was to sell some tops. Where Price Action confirmed (or I thought that it confirmed) I entered and collected some good pips. The reason was simple: without high volume, without important news, without US session I wouldn't have expected stop-killing movements so that my short-term positions for today was more safe than usually.

Good Luck all.
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  • #193,905
  • Jan 18, 2010 7:48am Jan 18, 2010 7:48am
Quoting sibajnok
I had posted about a week ago that I planed to sell around daily fibo 50 number. (daily chart below, chart 2). The reason was simple: I use only some indicators (you can see my opinion about indicators in my profile), and I respect fibo 50 number. As you can see, PA respects it, too

My target for this week is around 6170. Take a look at chart 1.

For today my plan was to sell some tops. Where Price Action confirmed (or I thought that it confirmed) I entered and collected some good pips. The reason was simple: without high volume, without important...
Nice chart, accepted reason, worthy for me to think thousand times before to go long again ! GL bro !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,906
  • Jan 18, 2010 7:57am Jan 18, 2010 7:57am
Quoting sibajnok
I had posted about a week ago that I planed to sell around daily fibo 50 number. (daily chart below, chart 2). The reason was simple: I use only some indicators (you can see my opinion about indicators in my profile), and I respect fibo 50 number. As you can see, PA respects it, too

My target for this week is around 6170. Take a look at chart 1.

For today my plan was to sell some tops. Where Price Action confirmed (or I thought that it confirmed) I entered and collected some good pips. The reason was simple: without high volume, without...
As i said yesterday expect bulish month,very bulish,now i see good another retrace for buy...Be caregul with shorts...



Cheers
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"Buy on fear, sell on greed !!!
  • #193,907
  • Jan 18, 2010 8:01am Jan 18, 2010 8:01am
Quoting Petar_Serbia
As i said yesterday expect bulish month,very bulish,now i see good another retrace for buy...Be caregul with shorts...

Cheers
Thanks for the notice

Money Management and Stop Loss <<< these will save me from any disaster.

If my SL would be hit, I will be forced to make a new plan...
  • #193,908
  • Jan 18, 2010 8:03am Jan 18, 2010 8:03am
Quoting sibajnok
Thanks for the notice

Money Management and Stop Loss <<< these will save me from any disaster.

If my SL would be hit, I will be forced to make a new plan...
Ok bro Wish you pips...
"Buy on fear, sell on greed !!!
  • #193,909
  • Jan 18, 2010 8:11am Jan 18, 2010 8:11am
Quoting wormboy
I wouldn't be afraid to pick a top if I were you.
You have a rising wedge there. That's an absolute kaboom pattern when it plays out. 6050 level could well be the first stop before a further decline.
Well, going by what you have on your chart at least
hehe yeah it is all in what you read on the charts, some people see one thing while others see it differently. But I am short from 16340 and hovering around breakeven now. I doubt much will happen from now till the asian sessions with the yanks off skiing for the long weekend.
  • #193,910
  • Jan 18, 2010 8:34am Jan 18, 2010 8:34am
imo, we won't get a definitive answer to cable direction until tomorrow's release of cpi.
If the data is favorable, cable should continue its bull run (unless King shoots it down afterwards ). Otherwise it's gonna be a selloff again. For now there's bearish divergence building on the hourlies but with the market half close, I don't think we're gonna see much movement.
  • #193,911
  • Jan 18, 2010 8:53am Jan 18, 2010 8:53am
short 1.6326 - 15 pip stop
  • #193,912
  • Jan 18, 2010 8:58am Jan 18, 2010 8:58am
short 75
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  • #193,913
  • Jan 18, 2010 8:58am Jan 18, 2010 8:58am
Mate would that not ba a high risk trade as PA heading straight into support at 1.6322 ???

Quoting subterfuge
short 1.6326 - 15 pip stop
  • #193,914
  • Jan 18, 2010 9:51am Jan 18, 2010 9:51am
Quoting subterfuge
short 1.6326 - 15 pip stop
stopped out. Came within a few ticks of my TP aswell. c'est la vie.
  • #193,915
  • Jan 18, 2010 9:55am Jan 18, 2010 9:55am
Quoting GlobalMacro
Bearish momentum subsided today
Cable tested former down TL around 1.5920 and bounced

As such I'm buying here @ 1.5955 ...just below yesterday's stopout level anticipating re-entry into prior range zone.


Merry Christmas!
Bulls are continuing to dominate the market today
We are seeing fresh buys following Friday's dip and the upside pressure resulted in a new weekly high of 1.6378 ensuring continuation of the bull momentum is firmly in place

The open long position up 390 pips @ 1.6345


I Will Continue To Carry My Long Position Set @ 1.5955
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Hear the music before the song is over ...
  • #193,916
  • Jan 18, 2010 10:34am Jan 18, 2010 10:34am
Quoting GlobalMacro
Bulls are continuing to dominate the market today
We are seeing fresh buys following Friday's dip and the upside pressure resulted in a new weekly high of 1.6378 ensuring continuation of the bull momentum is firmly in place

The open long position up 390 pips @ 1.6345


I Will Continue To Carry My Long Position Set @ 1.5955
Just a question GM. Could not the same point be made about selling pressure as each rise has also been met with selling it back down?

As the past 4 days it's been unable to break and close above 6355? Obviously from your entry it's a moot point but I'm Just curious for your take bro.
Ghost Rider - WWTBMD?
  • #193,917
  • Jan 18, 2010 10:38am Jan 18, 2010 10:38am
Short Cable at 1.6338...S/L 1.6365
  • #193,918
  • Jan 18, 2010 10:46am Jan 18, 2010 10:46am
Quoting albchr
Just a question GM. Could not the same point be made about selling pressure as each rise has also been met with selling it back down?

As the past 4 days it's been unable to break and close above 6355? Obviously from your entry it's a moot point but I'm Just curious for your take bro.
Selling "pressure"???
Where do you see pressure to the downside during the past 4 days?

We have a new daily Higher High on each and every day of the last 4 days: no selling pressure there...quite the contrary....

last 4 days' including today's Low:1.6136 , High: 1.6378
Thats a rise of plus 242 pips: Absolutely no selling pressure there!

Now 1.6355 is just a number...just because it didn't close above it, doesn't mean there is selling pressure...It just didn't close above that arbitrary figure....


anyway...how's everything going , bro?
Hear the music before the song is over ...
  • #193,919
  • Jan 18, 2010 10:49am Jan 18, 2010 10:49am
Quoting GlobalMacro
Selling "pressure"???
Where do see pressure to the downside during the past 4 days?

We have a new daily Higher High on each and every day of the last 4 days: no selling pressure there...quite the contrary....

last 4 days' including today's Low:1.6136 , High: 1.6378
Thats a rise of plus 242 pips: Absolutely no selling pressure there!

Now 1.6355 is just a number...just because it didn't close above it, doesn't mean there is selling pressure...It just didn't close above that arbitrary figure....


anyway...how's everything going...
Thanks GM...

Not too bad brother but I did screw up today by cutting trades off before I should have.
Ghost Rider - WWTBMD?
  • #193,920
  • Jan 18, 2010 10:54am Jan 18, 2010 10:54am
Quoting albchr
Thanks GM...

Not too bad brother but I did screw up today by cutting trades off before I should have.
My only advice is if you don't like the price action...don't try to read something into it that doesn't exist....the best course of action is just stay out until you start liking what you see no matter how long it takes to wait

....otherwise it's gonna be extremely costly to just short in front of the bulldozer just because maybe the pa doensn't feel good...

Trend Is Definitely Bullish For Now! (546 pips rise from December Lows and continueous Higher Highs & Higher Lows on the daily & weekly)!!!!

Stay Safe and Take Care, Chris!
Hear the music before the song is over ...
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