Then again, I did that yesterday, got out too early and burnt my fingers twice. Decisions, decisions, decisions.
Cable Update (GBPUSD)
- #206,921
- Edited 10:30am Mar 17, 2010 10:12am | Edited 10:30am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
- #206,922
- Mar 17, 2010 10:14am Mar 17, 2010 10:14am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
yup it is indeed...
I did EG analysis on my thread (link in sig) and if we close back below 90, it seems bull run is finished for EG, which also means bear run over for pound.
Any rundown in the pound because of dollar strength seems a good buy opportunity to me until we see EG strength again. Dollar is consolidating from a while and it's sucker EG which is moving the pound.
Look at EG daily chart and see around 885xx we form a true H&S pattern. Until then I see no escape for pound bullishnes. Hence would like to buy the dips when dollar strengthen. Else, both dollar and EG goes down and pound rockets like last 2-3 days.
ta
ams
I did EG analysis on my thread (link in sig) and if we close back below 90, it seems bull run is finished for EG, which also means bear run over for pound.
Any rundown in the pound because of dollar strength seems a good buy opportunity to me until we see EG strength again. Dollar is consolidating from a while and it's sucker EG which is moving the pound.
Look at EG daily chart and see around 885xx we form a true H&S pattern. Until then I see no escape for pound bullishnes. Hence would like to buy the dips when dollar strengthen. Else, both dollar and EG goes down and pound rockets like last 2-3 days.
ta
ams
Good to see you too bro...
well, that 1.5340 is probably a tough nut to crack...she wasn't able to clear that barrier....risk is for price heading back down towards 1.5150 now
Remains to be seen how far down from here will the selling pressure be able to drive her down....
- #206,923
- Mar 17, 2010 10:16am Mar 17, 2010 10:16am
It's all about having confidence in your tools and strategy. If it works for you, why change it.
but i use candlesticks for the greater timeframes and a general trend...
- #206,933
- Mar 17, 2010 10:35am Mar 17, 2010 10:35am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
i will play the rang if we break below sell or buy above could be wrong thats me 
- #206,936
- Mar 17, 2010 10:42am Mar 17, 2010 10:42am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #206,937
- Mar 17, 2010 10:47am Mar 17, 2010 10:47am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
close my short 38.2% fib from morning news 1.5285 +60 pips
I closed out my long too early yesterday, so that was a lesson learned. I have many more lessons to learn, and there might be another one today
The trend since 10 is down, but we are in an overall uptrend and it has broken the daily downtrend so this just looks to be a retrace.
Bernanke, on the other hand can pee all over my short, although that is another 2+ hours away. We'll see where the price is at 6 before I make my next decision.
No short-term target as this stage, because I am GREEDY
but I do have a long-term target of ~15182, before I put in the reversal.Just my thoughts on my position.
GL ladies and gentlemen
- #206,938
- Mar 17, 2010 10:48am Mar 17, 2010 10:48am
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
GU will go UP again... to 1.5349 (maybe More) in my M5 Chart
And ... I saw BULLISH HAMMER in M15
And ... I saw BULLISH HAMMER in M15
Always looking the GREAT, never left GOOD Point...
- #206,939
- Mar 17, 2010 10:49am Mar 17, 2010 10:49am
?
i guess the monthly trend could change, but i dont think so. maybe in 4-5 months.
I do agree that it could hit that target by looking at my Daily chart, I think that the move north is just a pull back from the innitial break, time will tell.
I was actually just being facetious with the comment about it heading up or down or anywhere inbetween!
Pulled out of my little scalp for 25 pips...will re-enter at the top on my 5 mins if it looks right.
- #206,940
- Mar 17, 2010 10:54am Mar 17, 2010 10:54am
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts