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Cable Update (GBPUSD)

  • #215,101
  • Apr 9, 2010 3:51am Apr 9, 2010 3:51am
Quoting chankl78
Stop Out at 20pips.....

So not +30pips left... hahahahha.. So conclusion .. trade with trend.
Conclusion....trade with goldman
COT: The precious data ignored
  • #215,102
  • Apr 9, 2010 3:51am Apr 9, 2010 3:51am
Quoting BadTradingFi
Wouldnt a break to 5390 confirm a move upwards though? I thought all the resistance was 5380-5385? OK, it could touch 5390 and drop, like we touched 5325 ish and dropped, then shot up again.

OR are you just playing an averaging up shorting strategy?
For me, the next major point is 1.5422 which is highlighted on actionforex report. I use those guys as a benchmark. Yes if it breaks through that level I agree with Malcolm that we are looking higher next week.

I keep faith in playing the daily ranges and working off an averaging strategy.

At the moment we have climbed almost 120 pips. In my experience I have not in the 12 mos I've been trading seen an individual day where the climb has been more than 280 pips so we are already half way up the daily ladder. I will book another short at 15411. Then if that breaks another one at a higher level (yet to decide at what level)
  • #215,103
  • Apr 9, 2010 3:51am Apr 9, 2010 3:51am
Selling the retrace....

1.5388.. SL.. 1.5430.. TP.. 1.5320
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #215,104
  • Apr 9, 2010 3:51am Apr 9, 2010 3:51am
Quoting free4440273
short 5368
look at 30 min

why do traders just sell when 30 is clearly up and up ... no reversal candle nothing

of course price will stall at major resistance but this is not a reason to sell just because

make sure stop is tight as this is going to 1.5425 to 1.5450
Blogging daily now at www.volume.zone
  • #215,105
  • Apr 9, 2010 3:54am Apr 9, 2010 3:54am
Quoting chankl78
Stop Out at 20pips.....

So not +30pips left... hahahahha.. So conclusion .. trade with trend.
Every ma on every TF is still pointing up on my charts, so in my humble opinion a retrace is not materialising yet and any shorts is just catching falling knives.
  • #215,106
  • Apr 9, 2010 3:54am Apr 9, 2010 3:54am
Have a good weekend everyone

I am done ... gu closed 1,5380 as per my post earlier , eu took just 45 ,

Been a long week .
Blogging daily now at www.volume.zone
  • #215,107
  • Apr 9, 2010 3:55am Apr 9, 2010 3:55am
Quoting nicholas
GBPUSD BUY

Chart based on daily chart with view from 4hour


nicholas


Its all about how you read the charts right or wrong.


nicholas
  • #215,108
  • Apr 9, 2010 3:56am Apr 9, 2010 3:56am
Quoting malcolmb14
Have a good weekend everyone

I am done ... gu closed 1,5380 as per my post earlier , eu took just 45 ,

Been a long week .
Have a nice weekend....
  • #215,109
  • Apr 9, 2010 4:00am Apr 9, 2010 4:00am
Quoting malcolmb14
Have a good weekend everyone

I am done ... gu closed 1,5380 as per my post earlier , eu took just 45 ,

Been a long week .
Thanks for advice....
Have a nice weekend.
Smile Chankl78
  • #215,110
  • Apr 9, 2010 4:02am Apr 9, 2010 4:02am
Quoting malcolmb14
look at 30 min

why do traders just sell when 30 is clearly up and up ... no reversal candle nothing

of course price will stall at major resistance but this is not a reason to sell just because

make sure stop is tight as this is going to 1.5425 to 1.5450
  • #215,111
  • Apr 9, 2010 4:03am Apr 9, 2010 4:03am
Quoting chankl78
Thanks for advice....
Have a nice weekend.
to keep yourself out of trouble , get a hulls moving average , setting 40 ( there is one for mt4 ...look on forex factory forum for it ) on a 15 min when it is green NO selling and in particular no selling when hulls moving average is green and days range has not yet completed. This simple rul may keep you out of some trades but will serve you well in the long run

Attached Image (click to enlarge)
Click to Enlarge Name: chart2066.png Size: 209 KB
Blogging daily now at www.volume.zone
  • #215,112
  • Apr 9, 2010 4:05am Apr 9, 2010 4:05am
Quoting malcolmb14
to keep yourself out of trouble , get a hulls moving average , setting 40 ( there is one for mt4 ...look on forex factory forum for it ) on a 15 min when it is green NO selling

Attachment
Wowow.. Thanks. Roger that.
Smile Chankl78
  • #215,113
  • Apr 9, 2010 4:07am Apr 9, 2010 4:07am
i will prepare to change costume..., wish me luck @1.540x (if reach that level.. )
I will be the number one Manager.
  • #215,114
  • Apr 9, 2010 4:09am Apr 9, 2010 4:09am
Quoting OldReigatian
For me, the next major point is 1.5422 which is highlighted on actionforex report. I use those guys as a benchmark. Yes if it breaks through that level I agree with Malcolm that we are looking higher next week.

I keep faith in playing the daily ranges and working off an averaging strategy.

At the moment we have climbed almost 120 pips. In my experience I have not in the 12 mos I've been trading seen an individual day where the climb has been more than 280 pips so we are already half way up the daily ladder. I will book another short at 15411....
I glance there too, they seem to think 15453 will be the top, but others suggest a lot higher.

I'm a rank noob, but to my mind, the pending election in a few weeks and the usual doom and gloom mongers who mention a double dip along with Greece might make this thing go down, so I'm tempted to book low value shorts all the way up and wait for it to come back down, hopefully.

The general consensus seems to be 1.48 or lower, with the caveat that these highs are not breached.
Back to basics, it has to be for me!
  • #215,115
  • Apr 9, 2010 4:09am Apr 9, 2010 4:09am
Quoting javapips
i will prepare to change costume..., wish me luck @1.540x (if reach that level.. )
You mean you will become Supergirl????
Smile Chankl78
  • #215,116
  • Apr 9, 2010 4:15am Apr 9, 2010 4:15am
Good morning ladies and gentlemen,

I am usually up by 6:15am, but not this morning! I overslept (5-6 hours sleep over a prolonged period catches you up eventually) and I had to rush into work, late again! At least my manager is on his holidays, so hopefully it will go unnoticed.

I missed all the crazy Friday action to the north side and we are coming close to the high of March 17th and we all know what happened then! BUT, it could break this high and continue its march up northwards.

I am still sitting on the sidelines. No long or short at this stage. I am waiting for confirmation either way. I will need to look at my charts in detail, although my work is preventing me from doing so.

Remember my chartist post -
http://www.forexfactory.com/showthre...st#post3607653

To summarise it said -
You might sell sterling at $1.52, but put a stop just above at, say, $1.535, hoping the channel will hold. If it doesn't, and your stop is triggered, you might look for sterling to rally back to the black line and bounce off it. In which case you might look to sell at $1.55 with a stop at either $1.58, or just above $1.60.

This is why I am holding off for the moment as for the long-term traders, they are at this crossroads.

From what I am seeing I am inclined to think, as others are, for the move back to 1.55, but with the election coming up it will be volatile!

I wish you all good luck with your day trading, but with my current workload @work, I am sitting on the sidelines.
  • #215,117
  • Apr 9, 2010 4:20am Apr 9, 2010 4:20am
Suddenly, I feel the world have stopped.
Smile Chankl78
  • #215,118
  • Apr 9, 2010 4:22am Apr 9, 2010 4:22am
Nice area to go short ....




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  • #215,119
  • Apr 9, 2010 4:25am Apr 9, 2010 4:25am
Quoting Cotton-I-Jo
Nice area to go short ....




no denying that
Raza
  • #215,120
  • Apr 9, 2010 4:31am Apr 9, 2010 4:31am
does esignal have hull MA?

Quoting malcolmb14
to keep yourself out of trouble , get a hulls moving average , setting 40 ( there is one for mt4 ...look on forex factory forum for it ) on a 15 min when it is green NO selling and in particular no selling when hulls moving average is green and days range has not yet completed. This simple rul may keep you out of some trades but will serve you well in the long run

Attachment
Its all in the mind.
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