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Cable Update (GBPUSD)

  • #214,141
  • Apr 7, 2010 4:39pm Apr 7, 2010 4:39pm
Evening!

Am seeing JPY strength, first target 140ish after will be watching if DOW breaking key support
  • #214,142
  • Apr 7, 2010 4:43pm Apr 7, 2010 4:43pm
an damm i hate my broker, at least 8 pip spread on GJ, and I notice that the price is of market another 4-5 pips, this is a disaster
  • #214,143
  • Apr 7, 2010 4:45pm Apr 7, 2010 4:45pm
Quoting malcolmb14
check 60 min charts ... bull test or bear test of supply zone at 1.5275 ?

almost looklike 2 x no demand bars before down move.

Got to see what London brings , but if London opens 1.5200 ish we may see 1.5050 by us tomorrow
This was strength Mal. Last time I saw this on the GBP 15m was March 31 but Sydney and Tokyo were open. Shakeout was for 30 pips down and then they ran it up 100 pips. Right now we're down 20 pips from the test. This setup has not failed me yet (couple of months) but there is always a first!
  • #214,144
  • Apr 7, 2010 4:45pm Apr 7, 2010 4:45pm
Quoting malcolmb14
well gu has been a little insane ... last weeks close was 1.5190. I think I am aiming for that in asia / frankie and then take it form there

There is nothing stopping gu going either way and i would love to see London reaction to US indes dropping today.

Based on us markets today could be engulfing on both s&p and dj could be reversal , but there have been so many fake outs and recently all bad news has been bought into

I think for now I am looking for a small move down to 1.5220 to 1.5180 test in Asia
Thanks for reply.... set sl break even 15273 will let it run.... getting late here goodnight.
  • #214,145
  • Apr 7, 2010 4:52pm Apr 7, 2010 4:52pm
Quoting Accumulation
This was strength Mal. Last time I saw this on the GBP 15m was March 31 but Sydney and Tokyo were open. Shakeout was for 30 pips down and then they ran it up 100 pips. Right now we're down 20 pips from the test. This setup has not failed me yet (couple of months) but there is always a first!
That's not a good sign for my short then!
  • #214,146
  • Apr 7, 2010 5:03pm Apr 7, 2010 5:03pm
Hi malcomb14; we have no break the weekly TR and we still above 1.53, it's rally to 1.49 again and maybe 1.47
High risk High return!
  • #214,147
  • Apr 7, 2010 5:10pm Apr 7, 2010 5:10pm
Quoting bbakker
That's not a good sign for my short then!
From my past experience with this setup, no it doesn't. I closed my shorts when I saw it. But hey, price can do anything. Everything else I look at says short except 4h and daily. "If" it plays out (mark up) I would be surprised if it breaks that .5280 trendline, in fact that is where I will close most of my long.
  • #214,148
  • Apr 7, 2010 5:15pm Apr 7, 2010 5:15pm
Quoting Accumulation
From my past experience with this setup, no it doesn't. I closed my shorts when I saw it. But hey, price can do anything. Everything else I look at says short except 4h and daily. "If" it plays out (mark up) I would be surprised if it breaks that .5280 trendline, in fact that is where I will close most of my long.
Thanks for the heads up! I will keep a close eye on PA and wait to see what Tokyo's reaction to it is, although price is already touching my 24ma on m5, so it might be time to cash in my short too and wait until the morning!
  • #214,149
  • Edited 5:36pm Apr 7, 2010 5:16pm | Edited 5:36pm
I dont like the resistance that the .382 fib from the last fall has provided....Any thoughts?


Attached Image (click to enlarge)
Click to Enlarge Name: 15m.png Size: 76 KB


Edited chart to show locations im talking about.
  • #214,150
  • Apr 7, 2010 5:17pm Apr 7, 2010 5:17pm
Quoting bbakker
Thanks for the heads up! I will keep a close eye on PA and wait to see what Tokyo's reaction to it is, although price is already touching my 24ma on m5, so it might be time to cash in my short too and wait until the morning!

I am keeping a close eye on 5240.
  • #214,151
  • Apr 7, 2010 5:28pm Apr 7, 2010 5:28pm
Quoting cloggie
I am keeping a close eye on 5240.
It is lingering and about 30mins before Tokyo opening!

WOW! That was some PA by our Ozzie friends! Dead PA and then pow!
  • #214,152
  • Apr 7, 2010 5:30pm Apr 7, 2010 5:30pm
Quoting bbakker
It is lingering and about 30mins before Tokyo opening!

I know, was going to bed early for open tomorrow, am still here watching this trade, could not resist the setup even though it was at NY close, all looked really promising for a 60-70 pip run on both fibre and cable. Too volatile to give up on though. Once we get a good close below 523 I will let her run and go to sleep. Target will then be 518
  • #214,153
  • Apr 7, 2010 5:32pm Apr 7, 2010 5:32pm
Quoting cloggie
60-70 pip run on both fibre and cable.
60-70 pip up move or down ?
  • #214,154
  • Apr 7, 2010 5:33pm Apr 7, 2010 5:33pm
Quoting cloggie
I know, was going to bed early for open tomorrow, am still here watching this trade, could not resist the setup even though it was at NY close, all looked really promising for a 60-70 pip run on both fibre and cable. Too volatile to give up on though. Once we get a good close below 523 I will let her run and go to sleep.
I'll be up by 6:15am per usual. You get used to 5-6 hours sleep with 2 young kids (4 on Sunday, 2 in May)
  • #214,155
  • Apr 7, 2010 5:34pm Apr 7, 2010 5:34pm
Quoting Honored
60-70 pip up move or down ?
Entered the short at 526, target 518.

So far only 30 pips on both.
  • #214,156
  • Apr 7, 2010 5:34pm Apr 7, 2010 5:34pm
Quoting Honored
60-70 pip up move or down ?
Down! Entered position shortly before 10pm (BST)
  • #214,157
  • Apr 7, 2010 5:35pm Apr 7, 2010 5:35pm
Quoting cloggie
Entered the short at 526, target 518
I'm 515. Why are you at 518?
  • #214,158
  • Apr 7, 2010 5:37pm Apr 7, 2010 5:37pm
Quoting bbakker
I'm 515. Why are you at 518?
ass chart.
  • #214,159
  • Apr 7, 2010 5:37pm Apr 7, 2010 5:37pm
Hi all, just checking trades before off to bed for some much needed zzzz's.

Got the wrong side of a short trade at 1.5212 but my strategy of increasing lots until retrace commences has fortunately brought me back to level 1.5265 to 1.5245

Think I'm leaving one short open with a tp at 1.5210 for another 30 pips. I'm sort of gambling a bit (I know, I know, not a good idea) that there won't be much action between now and the key news tomorrow, so it's a bit of a scalp mission. Also set an short entry order at 1.5280 so if that is triggered I'm hoping I'll see the retrace back to 1.5245-50 by the time I wake tomorrow.

GL to all those with the stamina to stay up.
  • #214,160
  • Apr 7, 2010 5:37pm Apr 7, 2010 5:37pm
Quoting cloggie
ass chart.
Hold on! Now where did I put it
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