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Cable Update (GBPUSD)

  • #205,401
  • Mar 12, 2010 4:10am Mar 12, 2010 4:10am
wow!!! shes got leggggggs this morning! wow!

Still no significant pull back!

It has to come, doesnt it, its part of technical analyses... hahaha.

well, we will just have to see
@pawpaw1000 on Twitter
  • #205,402
  • Mar 12, 2010 4:11am Mar 12, 2010 4:11am
Quoting Jemmy
D-4~ BULLS 3 : 4 BEARS
D-3 ~ BULLS 2 : 5 BEARS
D-2 ~ BULLS 1 : 6 BEARS
D-1 ~ BULLS 1 : 6 BEARS
today ~ BULLS 2 : 5 BEARS
Attachment
looks like 1.5065 strong resistance..
I will surrender if R1 fallen by the bulls..
still holding short 1.5018, SL=1.5150 (R1+30pips)..
SL hit loss -132pips..
Patience + Discipline =
  • #205,403
  • Mar 12, 2010 4:11am Mar 12, 2010 4:11am
Quoting Ctic
Here is the post I said before to an uptrend to 5400 - 5600, brings you to the chart. I am actually revising this analysis to possibly go up even higher now. Reversal of trend.
Chart will be posted on next post.

http://www.forexfactory.com/showpost...stcount=203200
And here is why..

1. Compression MA's... Last time the light blue and red dipped way down back in 2001 - 2002 Look what followed. Many years of up movement.

2. Fibs.. 38.2 bounce up to the 138.2 - 161.8... I know those of you who have been around here long enough know I always say cable loves it's 38.2 retracement

3. If candle closes up from here.....MONTHLY PINBAR. Smaller the timeframe pinbars, smaller the movements...Bigger the TF pinbars...bigger the movements.

4. The United States has the Great OBAMA, and BERNAKE, AND MANY PINBARS that sit in the Congress....Dollar will get strong WHY?
Attached Image (click to enlarge)
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  • #205,404
  • Mar 12, 2010 4:12am Mar 12, 2010 4:12am
Quoting kill56
sure if we open above 15138 at least h1 other wise back to the ???

BTW Kill,

Almost there.

C.
  • #205,405
  • Mar 12, 2010 4:14am Mar 12, 2010 4:14am
The point we need to pass...We get past here...GOOD BYE BEARS... Otherwise, we range a bit longer.
Attached Image (click to enlarge)
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  • #205,406
  • Mar 12, 2010 4:15am Mar 12, 2010 4:15am
Quoting Ctic
BTW Kill,

Almost there.

C.
i see bro
  • #205,407
  • Mar 12, 2010 4:16am Mar 12, 2010 4:16am
Quoting Ctic
And here is why..

1. Compression MA's... Last time the light blue and red dipped way down back in 2001 - 2002 Look what followed. Many years of up movement.

2. Fibs.. 38.2 bounce up to the 138.2 - 161.8... I know those of you who have been around here long enough know I always say cable loves it's 38.2 retracement

3....
My call was 1.5600-1.5800 range. I use fractals and currently there is still a lot of bearish pressure in the market. I'm expecting a retracement and maybe a bit of consolidation before the move up. I could be wrong though. If it's gonna pull back it's gonna happen in the area we're in now. If goes up and breaks through and holds above 1.5200 then it may not come back down for a while.
  • #205,408
  • Mar 12, 2010 4:18am Mar 12, 2010 4:18am
Quoting john876
Hi,

Are you using the indicator as the basis to enter and exit trades? I would advise strongly against it. I trade from one minute charts but many factors effect my decision to enter and exit trades. If you are a new trader using the one minutes charts try looking at David Aranzabal. He is a good one mintue trader.

I entered a long position at 1.50572 as it broke a downward trendline. It was also on the UK open. I closed it out at 60 pips for a 3-1 RR. I closed a bit early due to divergence...
Wow, those are great trades... I use the indicator and then S/R lines (horizontal)... thats that! I am new to trading, only goin 2 months with a week real. Up 10% for the week though but agree that I need to sharpen my entry/exit strategy. What you use mainly?
@pawpaw1000 on Twitter
  • #205,409
  • Mar 12, 2010 4:19am Mar 12, 2010 4:19am
Quoting JRoyal
You may be able to get that but the cycle normally goes, find a top start a downward move, retrace back up that may make a new high to stop out earlier sellers and then the fall. So if you entered as a scalp assuming a small stop, you may want to take your profits when you can wait for the retrace and then hold a new position down. It may not happen like that but I'd say 60% of the time it does. Market timing is very important. Most people are right about direction in the market but at the "wrong" time. Food for thought
Did I miss anything this morning

Back at my work desk now and looking at it sky rocket, priming itself for another long-term short. I wonder if it will reach the 8th March high of 15196. Trend line on the daily chart which was touched on Jan 19, Jan 28 and Feb 17 says maybe even up to 15300. If it does touch, I will be loading up on my shorts. We might reach these giddy heights by Wednesday 17th March as on Thursday when the Public Sector Net Borrowing figures are released, it won't make for pretty reading. Until then, maybe short-term longs are the way to go. I am currently sitting out, afterall it is another crazy Friday.... and I actually have some work to do in the office today
  • #205,410
  • Mar 12, 2010 4:20am Mar 12, 2010 4:20am
its all about the eu news was good still its friday too crazy
  • #205,411
  • Mar 12, 2010 4:21am Mar 12, 2010 4:21am
Quoting JRoyal
My call was 1.5600-1.5800 range. I use fractals and currently there is still a lot of bearish pressure in the market. I'm expecting a retracement and maybe a bit of consolidation before the move up. I could be wrong though. If it's gonna pull back it's gonna happen in the area we're in now. If goes up and breaks through and holds above 1.5200 then it may not come back down for a while.
JR,

The move up will not be a smooth and steady ride. As always, the cable is like an untamed horse...She will try to buck you, bruise you, kick you, and beat you.... I have called the 1.54 - 1.56 since March 2 I believe, I can look back through my posts. That IMHO will be the deciding point if we reverse, or if we drop. I was more bearish, but now I am taking a more bullish approach. Naturally, I am not the type that will put a trade in and ride it for months. I will clock profits, re-enter, re-exit, play up and down, until we get there. This is just my long term call.

C.
  • #205,412
  • Mar 12, 2010 4:24am Mar 12, 2010 4:24am
Quoting bbakker
Did I miss anything this morning

Back at my work desk now and looking at it sky rocket, priming itself for another long-term short. I wonder if it will reach the 8th March high of 15196. Trend line on the daily chart which was touched on Jan 19, Jan 28 and Feb 17 says maybe even up to 15300. If it does touch, I will be loading up on my shorts. We might reach the giddy heights by Wednesday 17th March as on Thursday when the Public Sector Net Borrowing figures are released, it won't make for pretty reading. Until then, maybe short-term longs...
Chart tells me there should be last line of Bears selling in the zone we're in now. If they can't slow this thing down then I don't know when it's gonna make significant pullback. Remember, this is a bounce off the 61% retracement of the Jan 09 - Aug 09 move up so there is prob real strength behind the move.
  • #205,413
  • Mar 12, 2010 4:27am Mar 12, 2010 4:27am
Quoting JRoyal
Chart tells me there should be last line of Bears selling in the zone we're in now. If they can't slow this thing down then I don't know when it's gonna make significant pullback. Remember, this is a bounce off the 61% retracement of the Jan 09 - Aug 09 move up so there is prob real strength behind the move.
Charts are saying that, however, there is no selling pressure whats so ever. Bears appear to have gone into hibernation as the bulls finally woke up. We may have a 300 pip day.
  • #205,414
  • Mar 12, 2010 4:27am Mar 12, 2010 4:27am
Quoting JRoyal
Chart tells me there should be last line of Bears selling in the zone we're in now. If they can't slow this thing down then I don't know when it's gonna make significant pullback. Remember, this is a bounce off the 61% retracement of the Jan 09 - Aug 09 move up so there is prob real strength behind the move.
I'm long with S/L below 1.5150...

Good R:R trade... ???
@pawpaw1000 on Twitter
  • #205,415
  • Mar 12, 2010 4:30am Mar 12, 2010 4:30am
thats why i love zulu

we did not open below 15039 but we open an h1 over 15139 next target 15199 could be wrong friday
Attached Image (click to enlarge)
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  • #205,416
  • Mar 12, 2010 4:30am Mar 12, 2010 4:30am
Quoting pawpaw1000
I'm long with S/L below 1.5150...

Good R:R trade... ???
What's your target?
  • #205,417
  • Mar 12, 2010 4:32am Mar 12, 2010 4:32am
Quoting pawpaw1000
I'm long with S/L below 1.5150...

Good R:R trade... ???
I'm not a good momentum trader at all. I never buy in sell zones or sell in buy zones. Of course I'm wrong sometimes but I stick with my bias and wait for the market to tell me I'm otherwise. Currently we're in a sell zone so honestly I think any buy is risky personally but this could be one of the times I'm wrong.
  • #205,418
  • Mar 12, 2010 4:33am Mar 12, 2010 4:33am
Quoting kill56
thats why i love zulu

we did not open below 15039 but we open an h1 over 15139 next target 15199 could be wrong friday
Hope you were long Kill...now do you think my 5207 is in range? May even be 5260 if news pushes up.
  • #205,419
  • Mar 12, 2010 4:33am Mar 12, 2010 4:33am
Quoting Ctic
What's your target?
just looking for 15 - 20 pips... so 1.5175-80...
@pawpaw1000 on Twitter
  • #205,420
  • Mar 12, 2010 4:34am Mar 12, 2010 4:34am
Quote
thats why i love zulu

we did not open below 15039 but we open an h1 over 15139 next target 15199 could be wrong friday http://cdn.forexfactory.com/images/s.../yim/happy.gif

I am thinking to join zulu..atleast emotionless trading
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