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Cable Update (GBPUSD)

  • #208,101
  • Mar 19, 2010 10:54am Mar 19, 2010 10:54am
Quoting solrac
Anyone else here think we might test 4975 again?? London about to close and very little volume going on
I think so US market make wonders furthermore closing day plus strong down pressure.
  • #208,102
  • Mar 19, 2010 10:55am Mar 19, 2010 10:55am
Quoting wormboy
Gotta wait till the momentum subsides baby.
Most rookies would just keep buying against selling pressure picking bottoms or vice versa picking tops ... be it based on trendlines, fib levels ma or whatever. That shit don't work when the momentum is strong. Gotta wait for it to subside.

hello how do you see the momentum (this macd(12,26,9) on H1 ???) and what strong mean? thks in advance
  • #208,103
  • Mar 19, 2010 10:55am Mar 19, 2010 10:55am
Quoting solrac
Anyone else here think we might test 4975 again?? London about to close and very little volume going on

I don't think we will, the big boys took their money of the table and are in the pub by now. Today is option expiry for currency futures; in 6 minutes trading stops. We set a beautiful line in the sand for next week

I am keeping an eye on 5027 and 4995 for confirmation either way for the rest of the day.

Then again I could be wrong, it is all in the charts.
  • #208,104
  • Mar 19, 2010 10:55am Mar 19, 2010 10:55am
Quoting pawpaw1000
I've learnt that once london closes ny sometimes takes over and leads us for a lil ride...

keep watching.
Hear u got a good pipping day Pawpaw ??? ,,,
  • #208,105
  • Mar 19, 2010 10:58am Mar 19, 2010 10:58am
Quoting solrac
Hear u got a good pipping day Pawpaw ??? ,,,
yeah! am soo happy solrac. And also learnt alot from my mentor for the day, cloggie. So profits while learning, cant beat that hey! only got a $400 micro account so not much but the learning is great for the future!!!
@pawpaw1000 on Twitter
  • #208,106
  • Mar 19, 2010 10:58am Mar 19, 2010 10:58am
Quoting cloggie
I don't think we will, the big boys took their money of the table and are in the pub by now. Today is option expiry for currency futures; in 6 minutes trading stops. We set a beautiful line in the sand for next week

Then again I could be wrong, it is all in the charts.
Cable keeps trotting along 15000... tried 3 times to pierse through this level and didnt succeed,,,, seems too familiar to the 3 attempts to 15126 earlier on today,,,,, might risk a tight short here
  • #208,107
  • Mar 19, 2010 11:00am Mar 19, 2010 11:00am
Both gold and oil were down earlier in the session and have stabilised now, oil below 80 and gold just a fraction above 1100. This may slow down the action on the dollar a bit.
  • #208,108
  • Mar 19, 2010 11:01am Mar 19, 2010 11:01am
Quoting pawpaw1000
yeah! am soo happy solrac. And also learnt alot from my mentor for the day, cloggie. So profits while learning, cant beat that hey! only got a $400 micro account so not much but the learning is great for the future!!!
Great ,,, glad to hear,,, I agreed with the Master Cloggie,,, i wish i could have his patience ( or should i say balls ) to hold on my trade !!!!!!!
we admire you Cloggie
  • #208,109
  • Mar 19, 2010 11:01am Mar 19, 2010 11:01am
you still here for a bit cloggie? its consolodating nicely and there could be a move now as london closes...

lets hope so, make this good day into a great day.

or is that great day into a perfect day??
@pawpaw1000 on Twitter
  • #208,110
  • Mar 19, 2010 11:02am Mar 19, 2010 11:02am
Quoting pawpaw1000
you still here for a bit cloggie? its consolodating nicely and there could be a move now as london closes...

lets hope so, make this good day into a great day.

or is that great day into a perfect day??
Yeah still here, usually on the screens from 0600 till about 1800 mo-fri. I am expecting a break up, but I don't trade my expactations, just what I see
  • #208,111
  • Mar 19, 2010 11:04am Mar 19, 2010 11:04am
look at 17 march around this time...

thats the type of move i'm hoping for from ny but propably wont happen, too much already?
@pawpaw1000 on Twitter
  • #208,112
  • Mar 19, 2010 11:04am Mar 19, 2010 11:04am
Quoting dag777
many thanks for this overview

yes thks cloggie, for me it's strange because when i'm looking on H1 i see my lower TL pass and then my heliot wave look dead. (the downtrend was the 4 wave, then i have expected that on TL go up for the 5 wave) then now i have no idea but keep your feeling in my mind thks
  • #208,113
  • Mar 19, 2010 11:04am Mar 19, 2010 11:04am
Quoting cloggie
Yeah still here, usually on the screens from 0600 till about 1800 mo-fri. I am expecting a break up, but I don't trade my expactations, just what I see
with you on that...
EDIT: may go down to 5min for that, dont know how much of a move we will have
@pawpaw1000 on Twitter
  • #208,114
  • Mar 19, 2010 11:07am Mar 19, 2010 11:07am
Quoting pawpaw1000
with you on that...
EDIT: may go down to 5min for that, dont know how much of a move we will have

You will have a lot more fake breaks on M5 especially on cable, the only time it is good was if you get a momentum break like the last one, that's why I entered early judging the momentum. Don't try this at home unless you have seen a few hundred breakouts on Cable.
  • #208,115
  • Mar 19, 2010 11:10am Mar 19, 2010 11:10am
Quoting cloggie
You will have a lot more fake breaks on M5 especially on cable, the only time it is good was if you get a momentum break like the last one, that's why I entered early judging the momentum. Don't try this at home unless you have seen a few hundred breakouts on Cable.
try around 15

alright, will stick to 15min until more advanced

you reckon if we break up we could go to 70 - 80?

that would propably be my target but would take profit at around 55 - 60
@pawpaw1000 on Twitter
  • #208,116
  • Mar 19, 2010 11:11am Mar 19, 2010 11:11am
Quoting cloggie
You will have a lot more fake breaks on M5 especially on cable, the only time it is good was if you get a momentum break like the last one, that's why I entered early judging the momentum. Don't try this at home unless you have seen a few hundred breakouts on Cable.
hi gloggie, what is the momentum for u, and how do u see it's strong?
i'm new and i see hi have so much to learn of all of u even i do by my own tactic

thks bro
  • #208,117
  • Mar 19, 2010 11:11am Mar 19, 2010 11:11am
Quoting pawpaw1000
try around 15

alright, will stick to 15min until more advanced

you reckon if we break up we could go to 70 - 80?

that would propably be my target but would take profit at around 55 - 60
If 70 is your target why take profit at 55? It is like throwing your rugby ball at your feet because you cannot be bothered to pass it to the guy behind you.
  • #208,118
  • Mar 19, 2010 11:12am Mar 19, 2010 11:12am
Quoting pawpaw1000
just use 1min price action...

take a look, it goes up in beautiful waves and once it touches resistance/ support, it changes direction and when it gets about half way through a wave, thats when i watch for down or up...

sounds complicated but really easy.

watch the 1min for a bit and see..
I told you not to... you're not wrong there! Beautiful
  • #208,119
  • Mar 19, 2010 11:14am Mar 19, 2010 11:14am
Quoting cloggie
If 70 is your target why take profit at 55? It is like throwing your rugby ball at your feet because you cannot be bothered to pass it to the guy behind you.
well, my 50% fib from the last move is sitting at around 73 but havent had enough experience to feel comfortable with fibs so use the rather safe than sorry stance...

what you think about fibs?
@pawpaw1000 on Twitter
  • #208,120
  • Mar 19, 2010 11:16am Mar 19, 2010 11:16am
Quoting bbakker
I told you not to... you're not wrong there! Beautiful
yeah bbakker!

was just for one quick scalp

made a nice 12 pips on it and it was in direction of trend

how u do today and what you thinking for rest of today?
@pawpaw1000 on Twitter
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