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Cable Update (GBPUSD)

  • #201,981
  • Feb 25, 2010 9:28pm Feb 25, 2010 9:28pm
Yesterday was not pleasant, lost 49 pips.. this is today's setup..

looking at the LTL, the Fibs and projecting the reversal condition. my opinion is, no breakout yet. just a small trap for bear. or a repositioning for the next movement. nonetheless, i am aiming for a reversal.. position @ 1.6259 long.
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  • #201,982
  • Feb 25, 2010 9:39pm Feb 25, 2010 9:39pm
Quoting mloistianto
Yesterday was not pleasant, lost 49 pips.. this is today's setup..

looking at the LTL, the Fibs and projecting the reversal condition. my opinion is, no breakout yet. just a small trap for bear. or a repositioning for the next movement. nonetheless, i am aiming for a reversal.. position @ 1.6259 long.
Are you already long?
  • #201,983
  • Feb 25, 2010 9:39pm Feb 25, 2010 9:39pm
Quoting mloistianto
Yesterday was not pleasant, lost 49 pips.. this is today's setup..

looking at the LTL, the Fibs and projecting the reversal condition. my opinion is, no breakout yet. just a small trap for bear. or a repositioning for the next movement. nonetheless, i am aiming for a reversal.. position @ 1.6259 long.
This phrase has made me laugh since we have begun the plummet. It's a bear trap, or suckering the bears in...

We have been in a downward spiral for over a month now and people are still using it.

Tee hee hee...

This isn't a shot at you personally. The terminology and the logic that follows has lead a lot of people into loss. I am sorry to hear about your loss from yesterday, but in all honesty, it could have been a lot worse.

As for your current position...we are teetering on a very critical line, a buy here without confirmation could add to your loss.

We are walking into a tight channel, 30m support and 1hr resistance on a bearish play...

I am not saying that you will lose on this one, but in all honesty, it is a much of a gamble as a coin toss.

Got my fingers crossed for you.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,984
  • Feb 25, 2010 9:59pm Feb 25, 2010 9:59pm
Quoting intrepid1
Are you already long?
is having Long is a strange??

i have too...
I will be the number one Manager.
  • #201,985
  • Feb 25, 2010 10:02pm Feb 25, 2010 10:02pm
Quoting javapips
is having Long is a strange??

i have too...
Having one, not strange, going long where he did...yes.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,986
  • Feb 25, 2010 10:09pm Feb 25, 2010 10:09pm
she's trying to get back to fibo 50.0 weekly chart..
  • #201,987
  • Feb 25, 2010 10:11pm Feb 25, 2010 10:11pm
Attached Image
  • #201,988
  • Feb 25, 2010 10:14pm Feb 25, 2010 10:14pm
Quoting javapips
is having Long is a strange??

i have too...
I mean to wait for the news to price pull back further.
  • #201,989
  • Feb 25, 2010 10:26pm Feb 25, 2010 10:26pm
Quoting Jemmy
D-4 ~ BULLS 0 : 7 BEARS
D-3 ~ BULLS 2 : 5 BEARS
D-2 ~ BULLS 3 : 4 BEARS
D-1 ~ BULLS 2 : 5 BEARS
today ~ BULLS 1 : 6 BEARS
ready to join bears party..
Attachment
1.5345...waiting to sell from higher price, pending sell 1.5400(today pivot) ; SL=1.5510 (yesterday pivot + 35pips)..
Attachment
D-4 ~ BULLS 2 : 5 BEARS
D-3 ~ BULLS 3 : 4 BEARS
D-2 ~ BULLS 2 : 5 BEARS
D-1 ~ BULLS 1 : 6 BEARS
today ~ BULLS 0 : 7 BEARS
pending order 1.5400 not hit, has removed..
it has been move from 1.5576 to 1.5189 ~ 400pips..
to danger to catch the running train..
i am out for this last day of this month..
waiting for next opportunity next month..
Attached Image
Patience + Discipline =
  • #201,990
  • Feb 25, 2010 10:49pm Feb 25, 2010 10:49pm
As we approach a pretty important area, here is my 1st quick lower cluster support -

"area of interest" chart.

Let me know if you want to discuss. We are coming up on weekly pivots, huge supports, could turn resistance...
All importan even if you trade 10 second or tick charts!

Edit - Damn--- No Moving averages.... Any requests? (Was focusing on support and pivot areas)

Magix 200 EMA

Dr D?
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #201,991
  • Feb 25, 2010 10:52pm Feb 25, 2010 10:52pm
At the crucial level currently ---> DP 07.00 am GMT + 7 - 1.5282.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #201,992
  • Feb 25, 2010 11:07pm Feb 25, 2010 11:07pm
Anyone shorting GU now? price bouncing off 55 ema line.......
OsMa showing bearish divergence.
  • #201,993
  • Feb 25, 2010 11:09pm Feb 25, 2010 11:09pm
Quoting joemiami
Anyone shorting GU now? price bouncing off 55 ema line.......
OsMa showing bearish divergence.

yes, short at 1.5276 will add at 1.5325 if it makes it there.
  • #201,994
  • Feb 25, 2010 11:14pm Feb 25, 2010 11:14pm
Quoting sswilli99
yes, short at 1.5276 will add at 1.5325 if it makes it there.
Ok, Im right behind you...lets hope she moves down well
  • #201,995
  • Feb 25, 2010 11:23pm Feb 25, 2010 11:23pm
Quoting XTrade
As we approach a pretty important area, here is my 1st quick lower cluster support -

"area of interest" chart.

Let me know if you want to discuss. We are coming up on weekly pivots, huge supports, could turn resistance...
All importan even if you trade 10 second or tick charts!

Edit - Damn--- No Moving averages.... Any requests? (Was focusing on support and pivot areas)

Magix 200 EMA

Dr D?
I have posted my longer term forecast here -> http://www.forexfactory.com/showpost...stcount=201968

I think we all know that nothing goes straight up or down, and the chart that BigRed posted earlier shows our current path. Sell, cover, sell, cover, sell, cover.

It is hard to gauge where we start and where we end, but I still believe that the overall long term downtrend will continue.

I typically like to take the shorter term trades, and keep a quick trigger on exit when in counters, has proven salvation...WHEW....

When I entered my long this morning, it was @ 1.5208. London and NY had come to this low together. That is why I took the trade. The issue with this area now, is that London hasn't had a chance to cover trade this shorted area, so, we will be heading back here, it's just a matter of when.

There is an area on the chart that is completely unplayed by NY session, just a bit higher than current, so, we go up and then down, or down then up...However we play it, really of no matter to me, I am all about riding the waves when the water swells.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,996
  • Feb 25, 2010 11:28pm Feb 25, 2010 11:28pm
Quoting joemiami
Anyone shorting GU now? price bouncing off 55 ema line.......
OsMa showing bearish divergence.
We are not confirmed long, but we still have support for the shorts...if this area fails, I will be all over the bears like a fat kid on a fudgesicle.

We can still confirm long, so if that happens...same deal..

Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,997
  • Feb 25, 2010 11:31pm Feb 25, 2010 11:31pm
Quoting Magix
I have posted my longer term forecast here -> http://www.forexfactory.com/showpost...stcount=201968

I think we all know that nothing goes straight up or down, and the chart that BigRed posted earlier shows our current path. Sell, cover, sell, cover, sell, cover.

It is hard to gauge where we start and where we end, but I still believe that the overall long term downtrend will continue.

I typically like to take the shorter term trades, and keep a quick trigger on exit when in counters, has proven salvation...WHEW.......
hey magix was just looking at a few other pairs with your chart set up , well the 1 minute and 5 minute , they work pretty damn good once a little trend gets going caught a nice little down move in the usdchf that I would not have got if I hadent been checking them in some other pairs good stuff bro
  • #201,998
  • Feb 25, 2010 11:34pm Feb 25, 2010 11:34pm
And here is that 600ema now..No longer showing the resistance, it is now a line of support.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,999
  • Feb 25, 2010 11:35pm Feb 25, 2010 11:35pm
Quoting digger1
hey magix was just looking at a few other pairs with your chart set up , well the 1 minute and 5 minute , they work pretty damn good once a little trend gets going caught a nice little down move in the usdchf that I would not have got if I hadent been checking them in some other pairs good stuff bro
Awesome.

Hit it hard mango!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #202,000
  • Feb 25, 2010 11:37pm Feb 25, 2010 11:37pm
Quoting XTrade
As we approach a pretty important area, here is my 1st quick lower cluster support -

"area of interest" chart.

Let me know if you want to discuss. We are coming up on weekly pivots, huge supports, could turn resistance...
All importan even if you trade 10 second or tick charts!

Edit - Damn--- No Moving averages.... Any requests? (Was focusing on support and pivot areas)

Magix 200 EMA

Dr D?
Hi XTrade,

Long term... the move down off of compression on the
4h and daily and the separations on the EMA's are strong
and the weekly has that double bottom beckoning ahead.

Between now and then the lower TF's should offer many
opportunities for compression - separation moves and far
more than the 1700 pips that separate the two.

I try not to look too far past the 5m and 15m.

As Wormie pointed out... why miss 400 - 500 pips in a fix position.

Either way, (+ or - 1700 pips up or down) I'll wager that Magix
will capture more than 1700 pips with his system whether it
reaches 1.3500 or 1.6900 first.

In the meantime... wake me when it's over because.... I'll be
you know where.

You'll see.

Dr. D.
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