Cable Update (GBPUSD)

i see 5480 for today

flat waiting for a drop

looks like a strong buying activity around 1.5400/10 just now ..

still need for more confirmation before i go Long again..

i don't want to think about shorting at this time..

Action shifts to Asia opening in 3-5 hours from now.

Good Morning Sydney and Tokyo- See the bloodshed which we did when you were sleeping.

Global Trading.

Here is what I see...

1. 1m chart showing long cycle, support to the 5m chart, 24SMA, red line.
2. 5m resistance line @ the 200EMA.
3. 15m resistance, and probable retrace line.

Uh...even in saying this, support on the 5m chart is critical, a close below the 24sma on 5m is deeper in the stink.
Wear a helmet, think we in for a bumpy ride.

As we are hitting into the first target zone....5m 200ema, a pull back will be expected. Holding support lines on 5, 15, 30 m charts crucial for topside movement.

Support areas, 1., 2., 3.

Fail on support lines.

Grab onto your lids kids, we're heading for the rhubarb!

is it me or she tightening up?.....

i will have my port of the house tonight if we break the low

Gotta love it when a plan comes together!

Cha Ching!

I missed that breakdown....

It happens mango...there's more to the day.

yeah, Im still in learning phase on "method to my madness" but getting better

got it thank god darn thick port of the house


Open TimeTypeSizeItem PriceS / LT / PClose Time Price
TaxesSwapProfit
2010.02.23 02:16sell0.50gbpusd1.55060.00000.00002010.02.23 11:211.5494
0.000.0060.00
2010.02.23 10:16sell0.50gbpusd1.55610.00000.00002010.02.23 11:101.5528
0.000.00165.00
2010.02.23 10:16sell0.50eurusd1.36870.00000.00002010.02.23 11:181.3662
0.000.00125.00
2010.02.23 14:05sell0.50eurusd1.35650.00000.00002010.02.23 17:331.3534
0.000.00155.00
2010.02.23 15:46sell0.50gbpusd1.54230.00000.00002010.02.23 23:001.5407
0.000.0080.00
2010.02.23 21:47sell0.50gbpusd1.54470.00000.00002010.02.23 22:431.5421
0.000.00130.00

Magix, is it a good idea to look for another sell as it bounces off of the 24sma line?....or should I just look for a downward trend line on 5/15 min RSX ?

When I grow up, I wanna be this good!
WTG

For me, sell line is the close below the 24SMA on the relevant time frame. Right now, relevant time frame is the 1m chart. A close below the 24SMA here for me is a trigger on trend.

Exit loss if we close above the 24SMA on 5m chart...profit side, take em as you see fit. Right now all I see for support is price point reaction, but keep the clock in mind.

Ok, will do. Sometimes the constant flipping back and forth between time frames puts my brain in overload, guess it just takes time getting used to

That's why I have all 4 open at the same time...there is typically never more than 3 relevant time frames to watch at any given moment...

1, 5, 15 are the critical ones, toggle the 30/1hr/4h as they enter into the bigger picture.

The way I have my charts posted in thread is exactly what I look at when trading. I keep 5 GBP/USD charts open, 4 on watch, 1 I use for examples for posting my ideas here.


It is a lot easier, for me, to watch all 4 at the same time. Toggling, I agree, ez recipe for crosseyed eyes and missed plays.

All things in time. Slow and steady wins the race.

bro u are the man one of the best but its about equity greeny all the way