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Cable Update (GBPUSD)

  • #214,721
  • Apr 8, 2010 10:21am Apr 8, 2010 10:21am
short at 5250 t/p 5150... S/l 5180...

dont reckon we going up much more...

been trending down slowly...
@pawpaw1000 on Twitter
  • #214,722
  • Apr 8, 2010 10:22am Apr 8, 2010 10:22am
Quoting BadTradingFi
Why do you think that's risky? Or just worried about the break above coming into play? Take it the SL is 5310+?
Because average daily ranges and the London weighing is not an exact science, however coupled with my ass level at 5252 it is a good trade in my book, I estimated the London close at 117.5 pips from the bottom. However it is picking the top, something I don't advocate that's why I added the statement.
  • #214,723
  • Apr 8, 2010 10:23am Apr 8, 2010 10:23am
Quoting Baby-Trader
Reason : Daily Demark High is @1.5260
yes3edly el demark ua bash izayak
  • #214,724
  • Apr 8, 2010 10:24am Apr 8, 2010 10:24am
Quoting cloggie
Because average daily ranges and the London weighing is not an exact science, however coupled with my ass level at 5252 it is a good trade in my book. However it is picking the top, something I don't advocate that's why I added the statement.

well cloggs, looking at the last 3 days it is actually a good level to short. Its at the top tl and also at the ass level so this double wammy should be too much for the bulls...
@pawpaw1000 on Twitter
  • #214,725
  • Apr 8, 2010 10:24am Apr 8, 2010 10:24am
If the 5250 is broken and holds a with a 1hr close above, im looking at 5280 as our next area of resistance. My 1hr chart shows why I have this as a traget and my 15m confirms as it is the top fib line of the last fall.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #214,726
  • Apr 8, 2010 10:25am Apr 8, 2010 10:25am
Quoting wormboy
81.5 is support. don't look like it's going lower .. time will tell
I agree with you.
Let's see if TA theories still valid.
Attached Image (click to enlarge)
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  • #214,727
  • Apr 8, 2010 10:26am Apr 8, 2010 10:26am
Quoting kill56
yes3edly el demark ua bash izayak
El 7amdolellah
Ezayak Enta
  • #214,728
  • Apr 8, 2010 10:26am Apr 8, 2010 10:26am
Quoting cloggie
Because average daily ranges and the London weighing is not an exact science, however coupled with my ass level at 5252 it is a good trade in my book, I estimated the London close at 116.9 pips from the bottom. However it is picking the top, something I don't advocate that's why I added the statement.
Ah, thanks for the info.

I nearly jumped in at 5255 but left it a little late so I'm just under where you are now.

Lets see where we go...
Back to basics, it has to be for me!
  • #214,729
  • Apr 8, 2010 10:26am Apr 8, 2010 10:26am
Quoting Bydyke
Means the market is sideways. Hope u know the market can only go north, south or east but never west as per the charts
It may be late in the day, but I have achieved the mantra by which I live and this is, try to learn something new every day. I didn't know that. It would be useful if there was a west though, as it would mean we would be going back in time and could recover all those lost pips
  • #214,730
  • Apr 8, 2010 10:27am Apr 8, 2010 10:27am
here u go BT

tamam i am having fun
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  • #214,731
  • Apr 8, 2010 10:28am Apr 8, 2010 10:28am
Hi people!
I think here is dangerous to short.
Attached Image (click to enlarge)
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Trend is your enemy, moneymanagement - your friend
  • #214,732
  • Apr 8, 2010 10:28am Apr 8, 2010 10:28am
I'm Thinking now to short GJ to have a trip to 1.38

I still thinking
  • #214,733
  • Apr 8, 2010 10:29am Apr 8, 2010 10:29am
Quoting Smurf Trader
If the 5250 is broken and holds a with a 1hr close above, im looking at 5280 as our next area of resistance. My 1hr chart shows why I have this as a traget and my 15m confirms as it is the top fib line of the last fall.

Attachment

Attachment
sounds good...

this is why I'm trading short, you can see the whole week has confirmed this tl.

PLUS the Ass chart with resistance at 52 but not gonna copy paste paint save as paste and post here!!! too much trouble...
Attached Image (click to enlarge)
Click to Enlarge Name: asdf.jpg Size: 125 KB
@pawpaw1000 on Twitter
  • #214,734
  • Apr 8, 2010 10:31am Apr 8, 2010 10:31am
Quoting kill56
here u go BT

tamam i am having fun
LOL

I think my entry is good
  • #214,735
  • Apr 8, 2010 10:34am Apr 8, 2010 10:34am
A pretty goofy week caught in a rather narrow weekly channel, could mean that we are poised to make one massive move to close the weekly range on a spike.

Where to?

The H4 is still showing long chart. The M30 is still showing the same support as well as the LTL seemingly dictated by the 600EMA.

With all sales at the LTL being bought, and the H4 still intact, I would hazard a guess that we could still be looking for the mother of all northside spikes. The daily top is showing a topside possibility of 1.5791...IF we break northside out of channel, that's going to be the next line in the sand.

Just when you think it is safe to go back into the water...
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #214,736
  • Apr 8, 2010 10:34am Apr 8, 2010 10:34am
Quoting BadTradingFi
Ah, thanks for the info.

I nearly jumped in at 5255 but left it a little late so I'm just under where you are now.

Lets see where we go...

Based on the daily range there is still another 25-30 pips in play. Which brings us to 5287
  • #214,737
  • Apr 8, 2010 10:35am Apr 8, 2010 10:35am
Quoting bigrisk
Hi people!
I think here is dangerous to short.
Attachment
  • #214,738
  • Apr 8, 2010 10:39am Apr 8, 2010 10:39am
Quoting pawpaw1000
sounds good...

this is why I'm trading short, you can see the whole week has confirmed this tl.

PLUS the Ass chart with resistance at 52 but not gonna copy paste paint save as paste and post here!!! too much trouble...
It does get old after awhile.

Glad to see we are on the same page.
  • #214,739
  • Apr 8, 2010 10:41am Apr 8, 2010 10:41am
Quoting cloggie
Based on the daily range there is still another 25-30 pips in play. Which brings us to 5287
thinking the same here, thing it can hold again?
  • #214,740
  • Apr 8, 2010 10:44am Apr 8, 2010 10:44am
Quoting Maeglin
thinking the same here, thing it can hold again?

There is no reason for an immediate jump to 5287, we have 5 hours left. Then again both H1 and H4 are bullish.
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