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Cable Update (GBPUSD)

  • #218,521
  • Apr 16, 2010 5:01am Apr 16, 2010 5:01am
Quoting AMuharram
signs of exhaustion too early + unability to penetrate dp (till now) mmmmmmmmmm
What is your DP set to?
  • #218,522
  • Apr 16, 2010 5:04am Apr 16, 2010 5:04am
Good points. I am with you on the hourly also (i have Fibos plotted on daily from appx 6875 to 4775)giving us resistance @ 5575 which is about my 38.5 retracement...

We can't go straight up

Quoting bbmac
china's gdp growth forecast fror 2010 raised to 10.3% from 9.5%...Wow!! No wonder the western economies (the consumption centre) are now in long term trouble with the eastern/asian economies (the production centre) growing like this.
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #218,523
  • Apr 16, 2010 5:10am Apr 16, 2010 5:10am
just trade with the "hammer" formation on cable..as the new candle appers...looks promising....what do you think?
  • #218,524
  • Apr 16, 2010 5:23am Apr 16, 2010 5:23am
Quoting Mr.Elliott
just trade with the "hammer" formation on cable..as the new candle appers...looks promising....what do you think?
depends on the overall context, ie can be hi-probability at extremes with potential supp/res particularly with oscillator extremes/divergence...can also be high probability after a pullback in a trend...just gotta look at the overall price action conditions on the chart it sets-up on in the context of the bigger picture on chart above (ie charts by a factor of x5 orthereabouts.)
ex member
  • #218,525
  • Apr 16, 2010 5:24am Apr 16, 2010 5:24am
Just wondering what are ppl's positions right now?

How far will this retrace go?
  • #218,526
  • Apr 16, 2010 5:24am Apr 16, 2010 5:24am
I am out and cashed in! Playing the waiting game now.

See you later!
  • #218,527
  • Apr 16, 2010 5:27am Apr 16, 2010 5:27am
Still shorting...... Just set my breakeven.

Hope it will goes to 1.538 first.....
Smile Chankl78
  • #218,528
  • Apr 16, 2010 5:29am Apr 16, 2010 5:29am
Quoting cloggie
I did a bit more research on this vulcano, below are two charts, the first one showing the ash cloud for today and the forecast till tomorrow, the second one via this link showing the forecast for the week; clearly showing that the High pressure area over the Atlantic is here to stay for at least another week, this could mean no flying in Europe for another...
Hmmm, could be worth a short on Oil with all them grounded planes

Also good news for me as my sister is probably going to be stuck in New York so she wont be able to get back to visit me
Back to basics, it has to be for me!
  • #218,529
  • Apr 16, 2010 5:32am Apr 16, 2010 5:32am
Quoting chankl78
Still shorting...... Just set my breakeven.

Hope it will goes to 1.538 first.....
Be patient and dont panic if it doesnt go your way, as long as you have used a small punt (EDIT, and have SL!!!).

TBH, TO ME (rank noob) things look a bit bullish again on the charts (EDIT: short term charts that is), so dont panic if you go the wrong direction for a while.

And to add again, worst thing you can do usually is panic close a short with a long, you'll find that you will time it wrong and end up riding it back down again for double trouble. Listen to the wise words on here of cloggie, bbaker, kill56, magix, etc.

Patience is key though.
Back to basics, it has to be for me!
  • #218,530
  • Apr 16, 2010 5:36am Apr 16, 2010 5:36am
Quoting Mr.Elliott
just trade with the "hammer" formation on cable..as the new candle appers...looks promising....what do you think?

good eg, 5min then 15min both set-up with a bullish hammer at the 38.2% of the move up and a prev 1hr swing hi zone = prev res=potential rbs...nice play=hi-probability particularly with the 5min hidden div in osc.

Ie effectively buying the pullback at potential resistance becomes support (RBS)

G/L
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ex member
  • #218,531
  • Apr 16, 2010 5:37am Apr 16, 2010 5:37am
Quoting BadTradingFi
Be patient and dont panic if it doesnt go your way, as long as you have used a small punt (EDIT, and have SL!!!).

TBH, TO ME (rank noob) things look a bit bullish again on the charts (EDIT: short term charts that is), so dont panic if you go the wrong direction for a while.

And to add again, worst thing you can do usually is panic close a short with a long, you'll find that you will time it wrong and end up riding it back down again for double trouble....
Wowow.. u can predict future.. It really did come down just now.. but now up again..

Anyway, sticking to it...
Smile Chankl78
  • #218,532
  • Apr 16, 2010 5:38am Apr 16, 2010 5:38am
Just wanted to thank great guys like...Wormboy, Reznik, one with funny avatar with turtle and Nene...nice posts...i learned so much from you...thanks a lot...great week......aaa...and great man like Bbakker for filtering the bad posts of guys, ho just waisting the time off others...(sorry for bad english)...green pips to all
  • #218,533
  • Apr 16, 2010 5:43am Apr 16, 2010 5:43am
5510/20 still in play - the short
  • #218,534
  • Apr 16, 2010 5:43am Apr 16, 2010 5:43am
hate to raid on the bear parade. I'm hoping to see high 1.55 to 1.56 by the end of the day.
And 1.60 by the end of april.
  • #218,535
  • Apr 16, 2010 5:44am Apr 16, 2010 5:44am
Quoting chankl78
Wowow.. u can predict future.. It really did come down just now.. but now up again..

Anyway, sticking to it...
I wish I could!!!!!!

Out of interest, when did you jump on your short?
Back to basics, it has to be for me!
  • #218,536
  • Apr 16, 2010 5:45am Apr 16, 2010 5:45am
Quoting Skyhawks
Just wondering what are ppl's positions right now?

How far will this retrace go?
Short as from 1.5445 looking for 1.535 first, but wouldn't be surprised if the whole daily uptrend will reverse......

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Don't be a hero. Don't have an ego. Always question yourself
  • #218,537
  • Apr 16, 2010 5:46am Apr 16, 2010 5:46am
New Idea:

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  • #218,538
  • Apr 16, 2010 5:48am Apr 16, 2010 5:48am
Quoting BadTradingFi
I wish I could!!!!!!

Out of interest, when did you jump on your short?
I saw the wrong signal....... (On my MACD) ...

Haha.. so no choice.. stick to it....

Anyway... not yet hit my stop loss...
So quite ok..
Smile Chankl78
  • #218,539
  • Apr 16, 2010 6:03am Apr 16, 2010 6:03am
thanks.......appreciated it...
  • #218,540
  • Apr 16, 2010 6:04am Apr 16, 2010 6:04am
Quoting GreenDot
Just wanted to thank great guys like...Wormboy, Reznik, one with funny avatar with turtle and Nene...nice posts...i learned so much from you...thanks a lot...great week......aaa...and great man like Bbakker for filtering the bad posts of guys, ho just waisting the time off others...(sorry for bad english)...green pips to all


Welcome to the thread and good luck with your trading!
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