Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#213,381
Apr 6, 2010 8:12am Apr 6, 2010 8:12am

Jefftrader
| Joined Oct 2009 | Status: Trader | 565 Posts

"My plan" has changed a bit... -Buy orders from last friday still lurking at the 5180 level...

Blue are the buy and sell zones (noobies turn the monitors upside down for best results

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#213,382
Apr 6, 2010 8:13am Apr 6, 2010 8:13am

fivedollar
| Joined Apr 2010 | Status: Trader | 42 Posts

Hello all, forum and participants all look interesting from here. I'm enjoying your banter.

IMO, This looks to be tracking the EUR (based on the EUR/GBP cross's determination to maintain the .88 level) and the anticipated election polls result - doesn't make fundamental sense that its going down on decent economic news release.

If next stop for EUR is around 1.33 then we might see the 1.5110 level. But the .88 cross will have to be broken eventually me thinks because there's less uncertainty in GBP than EUR.

Have a Buy at 1.5135 to stay ahead of the queue and SL 151

#213,383
Apr 6, 2010 8:13am Apr 6, 2010 8:13am

cloggie
Joined Oct 2009 | Status: Trader | 15,211 Posts

Quoting bbakker

Disliked

That's OK. I'm still counting forwards and backwards quite a bit at the moment.

I know that cloggie cashed in @ 15130, but I was wondering what would be the price when he goes short again. I assume his MAs would also be a factor in his decision making.

Ignored

I am still standing aside, M5 tells me that we are still in the retrace, with a couple of fake break outs to the down side. I can see at least one more test of 518 shortly which may then become support. The next test of 518 will correspond with a uTL on the M15 which may then become its support. The uTL on M5 has been broken and is acting as support. Also 150ma is like glue on H1

Pretty good for scalpers, no good for me with targets of 50-100 pips a run.

#213,384
Apr 6, 2010 8:28am Apr 6, 2010 8:28am

cloggie
Joined Oct 2009 | Status: Trader | 15,211 Posts

M5 Chart to go with above analysis

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#213,385
Apr 6, 2010 8:30am Apr 6, 2010 8:30am

ba1ker
Joined Feb 2010 | Status: Inactive | 6,482 Posts

Quoting cloggie

Disliked

I am still standing aside, M5 tells me that we are still in the retrace, with a couple of fake break outs to the down side. I can see at least one more test of 518 shortly which may then become support. The next test of 518 will correspond with a uTL on the M15 which may then become its support. The uTL on M5 has been broken and is acting as support. Also 150ma is like glue on H1

Pretty good for scalpers, no good for me with targets of 50-100 pips a run.

Ignored

Got the uTL (Upper Trend Line) on m15 now

but can't find the broken one on m5, although I will keep hunting

#213,386
Apr 6, 2010 8:32am Apr 6, 2010 8:32am

cloggie
Joined Oct 2009 | Status: Trader | 15,211 Posts

M5 uTL

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#213,387
Apr 6, 2010 8:32am Apr 6, 2010 8:32am

malcolmb14
Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts

Quoting Baby-Trader

Disliked

Why Sorry
I liquidated in profit.

Ignored

what happened to 1.7 ? waiting to get in lower ... as in 1,3500 ?

Blogging daily now at www.volume.zone

#213,388
Apr 6, 2010 8:35am Apr 6, 2010 8:35am

Baby-Trader
Joined Oct 2009 | Status: Trader | 1,342 Posts

Quoting malcolmb14

Disliked

what happened to 1.7 ? waiting to get in lower ... as in 1,3500 ?

Ignored

Hi Mal,

Did you read that ???
I post it yesterday

http://www.forexfactory.com/showthre...65#post3610865

#213,389
Apr 6, 2010 8:35am Apr 6, 2010 8:35am

4xStar
| Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts

Quoting bbakker

Disliked

Got the uTL (Upper Trend Line) on m15 now but can't find the broken one on m5, although I will keep hunting

Ignored

I can't find it either

******************* I'd rather make money than be right.

#213,390
Apr 6, 2010 8:36am Apr 6, 2010 8:36am

Baby-Trader
Joined Oct 2009 | Status: Trader | 1,342 Posts

Quoting malcolmb14

Disliked

what happened to 1.7 ? waiting to get in lower ... as in 1,3500 ?

Ignored

I also loaded shorts @1.5190

#213,391
Apr 6, 2010 8:36am Apr 6, 2010 8:36am

4xStar
| Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts

Quoting cloggie

Disliked

M5 uTL

Ignored

I don't get why the 2nd touch was placed where it was .. why not at the swing high of that move?

******************* I'd rather make money than be right.

#213,392
Apr 6, 2010 8:37am Apr 6, 2010 8:37am

fendi
| Joined Mar 2008 | Status: Trader | 658 Posts

My view is we may stop at this region as that is a strong support, i have a close on 4hr candle around the 50ema, no break no more down else we bounce. On the daily i see a high of almost todays high, which would give us tomorrow break of today's low. So my view is this i closed all short placed BUY @ 1.5144 and on my 30mins a break of 1.5175, would confirm a rise to 1.5217. This becomes my close for long and await further short entry except otherwise. I tried to save the chart with jpeg cant so anyone with advise would be appreciated. using mt4

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#213,393
Apr 6, 2010 8:37am Apr 6, 2010 8:37am

cloggie
Joined Oct 2009 | Status: Trader | 15,211 Posts

Quoting 4xStar

Disliked

I don't get why the 2nd touch was placed where it was .. why not at the swing high of that move?

Ignored

It is on my M15 as the next one to watch. I use the M5 one to keep an eye on the retrace to see its immediate direction, a piercing of that uTL on the M5 indicates to me the retrace has finished, still a long way off.

#213,394
Apr 6, 2010 8:42am Apr 6, 2010 8:42am

4xStar
| Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts

Here is my 5 m with trendlines...

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******************* I'd rather make money than be right.

#213,395
Apr 6, 2010 8:43am Apr 6, 2010 8:43am

4xStar
| Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts

Quoting cloggie

Disliked

It is on my M15 as the next one to watch. I use the M5 one to keep an eye on the retrace to see its immediate direction, a piercing of that uTL on the M5 indicates to me the retrace has finished, still a long way off.

Ignored

K, thanks .. I will check that out.

******************* I'd rather make money than be right.

#213,396
Apr 6, 2010 8:45am Apr 6, 2010 8:45am

cloggie
Joined Oct 2009 | Status: Trader | 15,211 Posts

Quoting 4xStar

Disliked

Here is my 5 m with trendlines...

Ignored

You are still missing the point, I took my profits at 5130 at the first sign of the retrace, the initial swing high was at 5195 followed by a fake breakout to the bottom to 5168, where pawpaw got tempted into a short and then moved back to the swing high without reaching it. I put the TL on M5 to give me an indication of a valid breakout, couple that with SR's and MA, this will give me a good indication for a continuation to the short side. I am still expecting a retest of 518 first, followed by a solid break of the TL on M5 and a break of support before I will enter another short, until that happens we are in scalping territory.

#213,397
Apr 6, 2010 8:46am Apr 6, 2010 8:46am