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Cable Update (GBPUSD)

  • #212,021
  • Mar 31, 2010 11:27am Mar 31, 2010 11:27am
back in 45min...
@pawpaw1000 on Twitter
  • #212,022
  • Mar 31, 2010 11:28am Mar 31, 2010 11:28am
Quoting cloggie
It may not get there on this run, it may not get there in a straight line, it all depends on your guts in withstanding some dd on the way up and something else may happen along the way. However 5252 is my next target for an area of consolidation, outside influences not withstanding.

And keep in mind I just pulled those numbers out of my @rse
Do you mind, we on the Pacific coast are having our breakfasts
  • #212,023
  • Mar 31, 2010 11:29am Mar 31, 2010 11:29am
Quoting pawpaw1000


alrighty... Dunno what PA will do between now and asia but hoping it wont meander below 80...

Dont have training 2moro so can trade the whole day

It may well fall below 80, there is no guarantee that the top of the range is going to hold, my SL is at 514, the close of the last bear candle on H1, and am happy to take that loss if needed, target is 5252 so r/r ration is 1:3 and that is what I like.
  • #212,024
  • Mar 31, 2010 11:30am Mar 31, 2010 11:30am
Quoting pawpaw1000


alrighty... Dunno what PA will do between now and asia but hoping it wont meander below 80...

Dont have training 2moro so can trade the whole day
hope you get there ,, even if it is meandering .., I got my TP right on the dot this time ,,, That`s it for me today ,, I made a promise of one good trade per day until I feel more confident and I am sticking to it ,,,,
Good luck rugger boy and many thanks to Cloggie for his mentoring ¬¬¬
  • #212,025
  • Mar 31, 2010 12:27pm Mar 31, 2010 12:27pm
Cloggie, I think you have given me the missing link I was looking for


Quoting cloggie
That is H4, I always use H4 SR's combined with fibs to give me some line in the sand and play the action between them. And when I trade I refuse to look at the M1, that is just noise for me. I enter on the M5 and watch the action on the M15/30 to reach the next level of the H4/H1, get out and wait for the next train.
******************* I'd rather make money than be right.
  • #212,026
  • Mar 31, 2010 12:29pm Mar 31, 2010 12:29pm
Quoting allserene
Do you mind, we on the Pacific coast are having our breakfasts
Then just don't touch the numbers .. or at least wash your hands after
******************* I'd rather make money than be right.
  • #212,027
  • Mar 31, 2010 12:29pm Mar 31, 2010 12:29pm
Quoting solrac
hope you get there ,, even if it is meandering .., I got my TP right on the dot this time ,,, That`s it for me today ,, I made a promise of one good trade per day until I feel more confident and I am sticking to it ,,,,
Good luck rugger boy and many thanks to Cloggie for his mentoring ¬¬¬
mmm... pa is flat as can be...

closed at small profit...

got whole day to trade 2moro. Was bear biased today and didnt want to believe we were going up... didnt think 4h channel would break but it has! now I'm a bull and will look accordingly 2moro...
@pawpaw1000 on Twitter
  • #212,028
  • Mar 31, 2010 12:31pm Mar 31, 2010 12:31pm
Well, I don't think we will go any higher today. will hold back for now and look for a better entry tomorrow...
エンジョイライフ！
  • #212,029
  • Mar 31, 2010 12:34pm Mar 31, 2010 12:34pm
hey room

bad and bloody day still holding my darn east
  • #212,030
  • Mar 31, 2010 12:37pm Mar 31, 2010 12:37pm
Quoting solrac
Will do that,,, sometime I just try to find too many reasons why .....

PS . Only one trade today and it worked!!!!
this is your problem...u cant predict emotion and u are trying too!!!

what u can do is follow the chart i have been telling people in here indirectly this is going up!! to me it was more than obvious..i dont think any long term trader would have been short near the bottom as so many signals were present.

traders dont care about the news they just trade the reactions printed on the charts..keep it simply!!! ..keep at it! and learn to see the obvious by eliminating emotions from yur trading..
  • #212,031
  • Mar 31, 2010 12:39pm Mar 31, 2010 12:39pm
Quoting kill56
hey room

bad and bloody day still holding my darn east
  • #212,032
  • Mar 31, 2010 12:41pm Mar 31, 2010 12:41pm
Quoting nAVIN2007
this is your problem...u cant predict emotion and u are trying too!!!

what u can do is follow the chart i have been telling people in here indirectly this is going up!! to me it was more than obvious..i dont think any long term trader would have been short near the bottom as so many signals were present.

traders dont care about the news they just trade the reactions printed on the charts..keep it simply!!! ..keep at it! and learn to see the obvious by eliminating emotions from yur trading..
u did win this one nav
  • #212,033
  • Mar 31, 2010 12:44pm Mar 31, 2010 12:44pm
Quoting kill56
u did win this one nav
tomorrow will go higher!!!..big signal on euro if euro breaks the high of today tomorrow this may move up like a mofo


i exit final position on the mofo
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  • #212,034
  • Mar 31, 2010 12:45pm Mar 31, 2010 12:45pm
Quoting nAVIN2007
i need 50pip from her i will fine or i will hit her again
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  • #212,035
  • Mar 31, 2010 12:49pm Mar 31, 2010 12:49pm
Quoting kill56
i need 50pip from her i will fine or i will hit her again

the last 4hr printed a very strong bull movement..i think it setup to break the high and this will explode up..be carefull my man...who know with this market
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  • #212,036
  • Mar 31, 2010 12:51pm Mar 31, 2010 12:51pm
Quoting nAVIN2007
tomorrow will go higher!!!..big signal on euro if euro breaks the high of today tomorrow this may move up like a mofo


i exit final position on the mofo

by tonight i will close all i hope its a short week and risky to keep any position open for next week the eur did break but dixy still holding if dixy break today's low the market is going to fly any close above 15200 i am out the monthly target was hit long time ago but i love too see these positions at least flat
  • #212,037
  • Mar 31, 2010 1:12pm Mar 31, 2010 1:12pm
Quoting nAVIN2007
the last 4hr printed a very strong bull movement..i think it setup to break the high and this will explode up..be carefull my man...who know with this market
You really never do know with this market, agree with you there Nav.

I have been long term bear, but thats because we have been in a long term bear market, so, nothing really to brag about there.

I am looking at the H4 line of resistance currently, which was the stopper on the last skyward movement. Failure here means we could test bottom again, or at least need to reload for another attempt.

The daily is shaping up to show a lot more room, where as the area below seems to be played out. One way or another, over the next few days, we will see break skyward or be putting on parachutes for a long fall.

Just what my charts say.

As always, must play with caution.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #212,038
  • Mar 31, 2010 1:26pm Mar 31, 2010 1:26pm
On similar toppy looking plays.

GJ and EJ have confirmed for longer side targets on their H4 charts, possibly bringing them into a lot higher highs. But...how far will they move above support? They are currently pushing the 600ema on H4 charts, and need to see a build of support before going to much further. The higher they climb without support, the bigger they fall to reach it. There are some nice play areas to present over the next couple of days with these 2, retrace zones in green.

Why these on the cable thread?

Well, for those that corelate, we can see that GJ has played much the same as GU, stopping at the H4 200ema, was prior to this week, and when it finally moved above, it kept on going. This line is resistance, until it becomes support.

Secondly, if we show a retrace here with GJ and EJ, the same could follow with GU.

Not that I am much one for basing plays on corelation, but, when presented in similar fashion, why ignore the obvious?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #212,039
  • Mar 31, 2010 1:33pm Mar 31, 2010 1:33pm
Quoting Magix
You really never do know with this market, agree with you there Nav.

I have been long term bear, but thats because we have been in a long term bear market, so, nothing really to brag about there.

I am looking at the H4 line of resistance currently, which was the stopper on the last skyward movement....
the longer term view..i get is this will break upwards..1.54 possible if that crosses 1.60 is on ..i see no reason at all for this to sink..lets see how it plays out


(if 1.60 crosses then we are heading up and US is in big trouble)
  • #212,040
  • Mar 31, 2010 1:40pm Mar 31, 2010 1:40pm
I am still biased long. There is no reason to be selling at this point although that may change soon
Its all in the mind.
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