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Cable Update (GBPUSD)

  • #219,861
  • Apr 20, 2010 11:45am Apr 20, 2010 11:45am
I'm out for all pairs other than GJ (bcoz my entry is @ 140.00) - will let it run a bit.. see how price progress..
  • #219,862
  • Apr 20, 2010 11:46am Apr 20, 2010 11:46am
Quoting cloggie
long 5350
Closed at 5365, don't like the PA interaction on M15/M30 around the 25/150ma.

Awaiting further entry.
  • #219,863
  • Apr 20, 2010 11:47am Apr 20, 2010 11:47am
Quoting egkid
Good idea But first i wait 45 min 4h close here
seems like bear flag in 4h... what do you think bro?
  • #219,864
  • Apr 20, 2010 12:06pm Apr 20, 2010 12:06pm
I think we in a descending channel..
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 30 KB
  • #219,865
  • Apr 20, 2010 12:37pm Apr 20, 2010 12:37pm
by open of london tomorrow we will be close to today's high. just around 5400 5420
  • #219,866
  • Apr 20, 2010 12:37pm Apr 20, 2010 12:37pm
Quoting A-speculator
I think we in a descending channel..
The gap was closed so we should go down, I hope
  • #219,867
  • Apr 20, 2010 12:41pm Apr 20, 2010 12:41pm
Looks like we are going up or down then...

Back testing shows this scenario is absolutely validated
  • #219,868
  • Apr 20, 2010 12:44pm Apr 20, 2010 12:44pm
Quoting bzyqe
The gap was closed so we should go down, I hope
Maybe tomorrow it will move down, i'll wait to see how the price will react @ 5250 then.. Currently I'm looking for possible long entry for GCad and ECad..
  • #219,869
  • Apr 20, 2010 12:46pm Apr 20, 2010 12:46pm
Quoting allserene
Looks like we are going up or down then...

Back testing shows this scenario is absolutely validated
My backtesting shows me that this is a cone of confusion we are in now, on my H4 there is no room left to go up but my M5 is at the bottom of my screen.
  • #219,870
  • Apr 20, 2010 12:49pm Apr 20, 2010 12:49pm
Quoting cloggie
My backtesting shows me that this is a cone of confusion we are in now, on my H4 there is no room left to go up but my M5 is at the bottom of my screen.
The cone of silence
http://www.theaterhopper.com/wordpre...08/05/cone.jpg
  • #219,871
  • Apr 20, 2010 12:49pm Apr 20, 2010 12:49pm
Thanks for the humor-
Alserene...

It was one of those bought in @the Top of the Waterfall,
on P.A. for me... a minor "20-something-pip," rotten-belch.

Oh well, i can remember one of your previous post's,
of "re-gaining" confidence to someone. Something like-
"Ahh, take a scalp or two, gain the confidence back", etc.

-Though r.now this is a paint-drying session. 'Still Positive for
the week, and London brings the goods early, in the am,
Wishing you all the Best,

Jeff !
I will work to Objectively Identify my Edges
  • #219,872
  • Apr 20, 2010 12:51pm Apr 20, 2010 12:51pm
Quoting allserene
The cone of silence
http://www.theaterhopper.com/wordpre...08/05/cone.jpg

Or the area of ambiguity (turn screen upside down)


http://pix.motivatedphotos.com/2009/...-Ambiguity.jpg
  • #219,873
  • Apr 20, 2010 12:52pm Apr 20, 2010 12:52pm
BTW scalping some longs on the M5 wave. Just bodysurfing really awaiting the proper wave.

EDIT: My last little scalp long from 5356 may just turn into something here
  • #219,874
  • Apr 20, 2010 12:54pm Apr 20, 2010 12:54pm
Quoting cloggie
My backtesting shows me that this is a cone of confusion we are in now, on my H4 there is no room left to go up but my M5 is at the bottom of my screen.
Perhaps it will go down after 4h closed below 5350... since there is no volatility at this time of market and my price is pretty close to the level, I'm not comfortable holding it..
  • #219,875
  • Apr 20, 2010 12:54pm Apr 20, 2010 12:54pm
if we do get a rise 2morro does that mean currency will get stronger?
  • #219,876
  • Apr 20, 2010 12:59pm Apr 20, 2010 12:59pm
Quoting Makeveli
if we do get a rise 2morro does that mean currency will get stronger?
We are not going to get a rise tomorrow, but yes if interest ever goes up in about 3 or 4 years or so it will give an impetus to the pound. An interest rate hike is so far in the future that by the time we get one it will be priced in the market.
  • #219,877
  • Apr 20, 2010 1:00pm Apr 20, 2010 1:00pm
yes it really is psychological and we should have brain tests every hour to test dopamine levels, reaction times, hand tremor etc...

I remember Nav saying that every time he shorted it went up and very long sent the market down

I think most of us have experienced that - and it's a sign we are chasing the market and need to wait for the turn and even then we need to wait for the retrace

softly softly catchee monkey

or in Yorkshire 'tha dunt flay en to cop it'

(You don't frighten a hen to catch it)
  • #219,878
  • Apr 20, 2010 1:04pm Apr 20, 2010 1:04pm
Thanks for that!

You're right... Patience for the week's goal, i need.

Thanks a Ton Alserene,

Jeff !
I will work to Objectively Identify my Edges
  • #219,879
  • Apr 20, 2010 1:05pm Apr 20, 2010 1:05pm
Quoting cloggie
BTW scalping some longs on the M5 wave. Just bodysurfing really awaiting the proper wave.

EDIT: My last little scalp long from 5356 may just turn into something here
Closed at 5365. Done scalping, tea is ready. See you guys at Franky open.
  • #219,880
  • Apr 20, 2010 1:09pm Apr 20, 2010 1:09pm
Quoting cloggie
We are not going to get a rise tomorrow, but yes if interest ever goes up in about 3 or 4 years or so it will give an impetus to the pound. An interest rate hike is so far in the future that by the time we get one it will be priced in the market.
Can you believe that? Still no close, not even a slip pass 5350.. Well, gtg.. trade safe bro..
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