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Cable Update (GBPUSD)

  • #201,421
  • Edited 1:29am Feb 24, 2010 12:57am | Edited 1:29am
I just noticed how price looks almost identical from 1/28/10 to 2/5/2010. touched 200 EMA then dropped immediately. Since price is stalling, to me looks like it might push higher, that is if it can get past M15 200EMA...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 1hour.gif Size: 18 KB
  • #201,422
  • Feb 24, 2010 1:01am Feb 24, 2010 1:01am
Quoting manize
Seeing the butterfly and current PA, I don't wait for 1.5484 to push the short button on 1.5460!

Be Patient, Bro
I can NOT Quick make POST...

Be Carefully...
After go UP... maybe Quick go DOWN (like Meteor, same like YESTERDAY )

GL for you...
Always looking the GREAT, never left GOOD Point...
  • #201,423
  • Feb 24, 2010 1:01am Feb 24, 2010 1:01am
Quoting Tsar
Hi Jaice,

Nice to meet you

Beware... it's BULLISH Trap in Bearish Trend.

It's BEARISH in The Three Drives Pattern E-F-G-H-I...
You can Look in My Post #200340 http://www.forexfactory.com/showpost...stcount=200340

Cheers...
That is a terrific table, Thank you!

I can easily see the 3 Drives pattern now!
(What are the upper and lower values on each dotted cross member?)


J
Joy in looking and comprehending is nature's most beautiful gift.
  • #201,424
  • Feb 24, 2010 1:07am Feb 24, 2010 1:07am
Quoting manize
Seeing the butterfly and current PA, I don't wait for 1.5484 to push the short button on 1.5460!
Hi Manize..

just want to have your opinion..from what i see, GU will change immediate trend to start bullish if she is successfully break the 1.5470 & then 1.5500 ..

why u still think we are still heading south ?

i'm curious as i always respect your trade..and now i'm already opposite of your play..hehe..
  • #201,425
  • Feb 24, 2010 1:18am Feb 24, 2010 1:18am
GU firmly stuck in a 70 pip cycle, truly dire conditions atm. Waiting for a clean move before entering.
{Promotion Removed}
  • #201,426
  • Feb 24, 2010 1:19am Feb 24, 2010 1:19am
Quoting Jaice
Hey Tsar,

I am of the opinion that you may be right. I can see a wedge formation developing with Upper bounds of the 50% retracement, and the support/resistance level from the past 60 hours.

I am forecasting a breakout in about 6 hours. I don't see any highly impacting news reports around then and estimate the US New Home Sales will be a driver in momentum 3 hours into the break.

This meets your estimate or 1.5484. I agree with a south movement from there.


(This is my first real attempt at a contribution to the forum. Please comment)

J...


ok, that's your choice kid, i will give comment, (it could be hurt)


first : your SL is about 60 pips, is that true? so at least your TP must be more than 120 pips. do you??

second: what time you make that OP? and why in that time?

next : are you make a plan before entering the market? or just 'click' and make analysis lately?...

next : you hope the down move, and you know the 'pink' line, why not wait that line to be tested and you enter?

next : what will you going to do if price break the 'PINK' line...??

LAST : you said (and maybe think too) That Tsar possible Right about 5484, SO WHY NOT CLOSE YOUR ENTRY???!!!

ehem..ehemm... enough...,

remember, that your choice, i already give a comment... (sorry, many comment)....,

have a good trade...
I will be the number one Manager.
  • #201,427
  • Feb 24, 2010 1:22am Feb 24, 2010 1:22am
Quoting Jaice
That is a terrific table, Thank you!

I can easily see the 3 Drives pattern now!
(What are the upper and lower values on each dotted cross member?)


J
The UPPER and LOWER Values on Each Dotted cross member is 3 Level Semafor Indi.

I'm use for Upper / Lower Value Confirmation ( Must be Attention ! This INDI can Expand to go UPPER / LOWER )

You can GET in :
Attached File(s)
File Type: ex4 #4X Semafor.ex4   11 KB | 319 downloads
File Type: mq4 #4X Semafor.mq4   13 KB | 349 downloads
Always looking the GREAT, never left GOOD Point...
  • #201,428
  • Feb 24, 2010 1:24am Feb 24, 2010 1:24am
Quoting Kijang Emas
Hi Manize..

just want to have your opinion..from what i see, GU will change immediate trend to start bullish if she is successfully break the 1.5470 & then 1.5500 ..

why u still think we are still heading south ?

i'm curious as i always respect your trade..and now i'm already opposite of your play..hehe..
Yes my DP today is 1.5470 ---> It is the key level, eventhough broken it I don't sure pass 1.5488/530/541 ! Before 1.5470 I have one R 1.5455/60 --> Looks like not easy to break it since yesterday on H1/H4 close/open ! ---> Yesterday I've got so much green pips by 3 times short at that level !

If breaks 1.5470 I dare loss untill 1.5480 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #201,429
  • Feb 24, 2010 1:32am Feb 24, 2010 1:32am
Last night's post

http://www.forexfactory.com/showpost...stcount=201231

Still hang'n tight...No change in direction bias for now.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #201,430
  • Feb 24, 2010 1:38am Feb 24, 2010 1:38am
Quoting javapips
ok, that's your choice kid, i will give comment, (it could be hurt)

Hi Javapips,

Thanks for your comments...

I think you are right. And I certainly have not exited that trade. I know it is not very good.

All your points are great and I do think about them. At the moment I feel like there is a chance that my view of the cable is correct and that it will go down. So I'm holding to avoid a loss. Maybe this is not the best way.

What I need is a more brutal view of things so I by no means mind you sticking in the boot. Though I think you held back a bit

I think now is a pivotal moment and will run this course. But I will try and take a better look next time.

Mate. Thank's for your reply. I don't mind the hurt at all.

J
Joy in looking and comprehending is nature's most beautiful gift.
  • #201,431
  • Feb 24, 2010 1:46am Feb 24, 2010 1:46am
Selling starts

London selling starts.

No support till 1.52.

Enjoy the ride.
  • #201,432
  • Feb 24, 2010 2:06am Feb 24, 2010 2:06am
Quoting kingfisher
Selling starts

London selling starts.

No support till 1.52.

Enjoy the ride.
I presume you mean buying?
{Promotion Removed}
  • #201,433
  • Feb 24, 2010 2:14am Feb 24, 2010 2:14am
Quoting manize
Seeing the butterfly and current PA, I don't wait for 1.5484 to push the short button on 1.5460!
You saw BIG... BIG BUTTERFLY, Bro

Congrat for your Calculation !
Always looking the GREAT, never left GOOD Point...
  • #201,434
  • Feb 24, 2010 2:16am Feb 24, 2010 2:16am
Quote
I presume you mean buying?

No. I am short. I will not take a counter trend trade.

Ultimately trend will save me once it starts its eventual ride down sooner or later.
  • #201,435
  • Feb 24, 2010 2:29am Feb 24, 2010 2:29am
long @ 1.5454 TP 1.5482, what took u soo looonnggg...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 15 KB
  • #201,436
  • Feb 24, 2010 2:32am Feb 24, 2010 2:32am
Quoting Bull_Bear
Last night's post



Still hang'n tight...No change in direction bias for now.
..agreed!! looking at 8H pin bar and daily support on andrews line
  • #201,437
  • Feb 24, 2010 2:36am Feb 24, 2010 2:36am
Quoting kingfisher
No. I am short. I will not take a counter trend trade.

Ultimately trend will save me once it starts its eventual ride down sooner or later.
I'm with you Kingfisher; I went short @ 1.5436 after a long wait and now it's trying to shake me out; but as you've so rightly said the major trend is down; and patience is the key; (nerves of steel help-can I borrow some?).
  • #201,438
  • Feb 24, 2010 2:39am Feb 24, 2010 2:39am
Quoting Magix
Congrats as well BT...

Seriously guys, what's with all the new arrivals.

Me and my wife figured out what was causing her to get pregnant and stopped that a long time ago.

Have you guys not been introduced to Satellite TV or Internet porn?
Hi Magix,

Sorry for late response. I just wake up.
we only live the normal life.
Eating, Drinking, Sleeping and ... f----
and let things take its role.

do you have children ?

Regards & Happy Pips
  • #201,439
  • Feb 24, 2010 2:39am Feb 24, 2010 2:39am
Quoting Tsar
You saw BIG... BIG BUTTERFLY, Bro

Congrat for your Calculation !
Closed +40 pips, now I watch carefully PA surrounding 1.5470 if goes there !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #201,440
  • Feb 24, 2010 2:48am Feb 24, 2010 2:48am
Quoting manize
Closed +40 pips, now I watch carefully PA surrounding 1.5470 if goes there !

Hi Manize,

Thanks for all your great posts. I've noticed your skill for over a year now. Hope you don't mind an uneducated question.

What was the trigger for you to exit this trade? You entered well and hit 40pips just at the turn.

Was it all on price action?


I went away for 10 minutes after seeing the commitment south and came back to a surprise.

Now I am less certain of the overall movement in the next 2 hours.


Cheers,
J
Joy in looking and comprehending is nature's most beautiful gift.
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