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Cable Update (GBPUSD)

  • #222,401
  • Apr 29, 2010 12:49am Apr 29, 2010 12:49am
Quoting pawpaw1000
too bad I put a large amount on...
I still think it will come down to that, I'm just realizing the value in his short term prediction, so will try to get a better price.
  • #222,402
  • Apr 29, 2010 12:51am Apr 29, 2010 12:51am
short squeeze??
I have no enemy; I make Incautiousness my Enemy.
  • #222,403
  • Apr 29, 2010 12:52am Apr 29, 2010 12:52am
[quote=Dazzer;3682529]
Quoting malcolmb14

I'm still long at 1.5186 from the close of the 8:00 M30 candle. That smack back down got the old balloon knot parping, but it looks like to go down, we first need to go up and suck in a few more shorters.
I still agree with your 1.5250 target and that upper res line will probably get closer from now on.

The more we practice, the luckier we get.

Dazzer
lower value area last session 1,5155 , massive volume on down bar 10 min stopped dead just above it , this is potential stopping volume , next abr up confirmed buyers ....and 5240

stop on entry was 15 pip

Attached Image (click to enlarge)
Click to Enlarge Name: chart2135.png Size: 197 KB
Blogging daily now at www.volume.zone
  • #222,404
  • Apr 29, 2010 12:54am Apr 29, 2010 12:54am
I still believe in SOuth being the direction to go but will also enter at a better price... We will have to see how 5250 reacts...
@pawpaw1000 on Twitter
  • #222,405
  • Apr 29, 2010 12:55am Apr 29, 2010 12:55am
Quoting jimobiwan
short squeeze??
why when everyone is bear biased do they think an up move is short squeeze ?

this could go back to 1.5400

this move has been developing for 24 hours now

Attached Image (click to enlarge)
Click to Enlarge Name: chart2137.png Size: 181 KB
Blogging daily now at www.volume.zone
  • #222,406
  • Apr 29, 2010 12:55am Apr 29, 2010 12:55am
german unemployment rate: drop of 68,000. expected 10,000. Much better than expected
  • #222,407
  • Apr 29, 2010 12:58am Apr 29, 2010 12:58am
[quote=malcolmb14;3682546]
Quoting Dazzer

lower value area last session 1,5155 , massive volume on down bar 10 min stopped dead just above it , this is potential stopping volume , next abr up confirmed buyers ....and 5240

stop on entry was 15 pip

Attachment
A classic case of stop hunting and if the higher TFs don't confirm the wide spread and spike in volume to go down, then this is what happens.
Fair play to you, I couldn't stomach a 15 pip stop this morning, got nearly a 50 pip SL on this (just as well I suppose).

1st TP hit now for me at 1.5225 and other to BE.

Good luck

Dazzer
  • #222,408
  • Apr 29, 2010 1:01am Apr 29, 2010 1:01am
We have an effort to move up bar on the last M30 closing at 9:00 GMT.

Dazzer
  • #222,409
  • Apr 29, 2010 1:06am Apr 29, 2010 1:06am
looks like we are failing at 5225? or really struggling...
@pawpaw1000 on Twitter
  • #222,410
  • Apr 29, 2010 1:07am Apr 29, 2010 1:07am
am shorting cable form 15225 targetting 15 pips only
  • #222,411
  • Apr 29, 2010 1:10am Apr 29, 2010 1:10am
Quoting malcolmb14
why when everyone is bear biased do they think an up move is short squeeze ?

this could go back to 1.5400

this move has been developing for 24 hours now

Attachment
Hope you are right malcom, i'm yearning to get out of this shitty situation i got in a couple of days ago. You're really a pro.
  • #222,412
  • Apr 29, 2010 1:12am Apr 29, 2010 1:12am
Quoting pawpaw1000
looks like we are failing at 5225? or really struggling...
We're struggling because we hit the 61.8 fibo from yesterday's high to low. There will of course be lots of people (the herd) with sell orders around this level and if the smart money agree then we could see further down moves until the accumulation phase is complete.
The "effort to move up" bars do not necessarily indicate further moves north, it could be testing and further stop hunting and the drop in volume from the last M30 bar would skew things a little for the bulls.

Dazzer
  • #222,413
  • Apr 29, 2010 1:12am Apr 29, 2010 1:12am
Hit fork on 60m
Attached Image (click to enlarge)
Click to Enlarge Name: gu 10-04-29 60.gif Size: 20 KB
  • #222,414
  • Apr 29, 2010 1:14am Apr 29, 2010 1:14am
Quoting Popularhelen
am shorting cable form 15225 targetting 15 pips only
You'll probably get that too.
  • #222,415
  • Apr 29, 2010 1:15am Apr 29, 2010 1:15am
Quoting Najee
Hope you are right malcom, i'm yearning to get out of this shitty situation i got in a couple of days ago. You're really a pro.
not a pro I get it wrong all the time.

I have learn to and try to keep an open mind , by day trading i focus session to session and see what overall markets are doing . Yesterday I was selling today buying

9 time out of 10 asia direction is rotated in London ... something i have observed

I have also been watching volumes form on the 60 min charts on the treble bottom . vsa is something that has come to me with experience and practice.

also mm i took a 35 pip hit in early asia , did not move stop and just took hit , was a little to bullish .. sure did not have to take hit but what if i removed stop and price moved 200 pip down . I never move stops.

35 pip loss is easy to recover from , 200 is not.
Blogging daily now at www.volume.zone
  • #222,416
  • Apr 29, 2010 1:17am Apr 29, 2010 1:17am
Quoting Dazzer
We're struggling because we hit the 61.8 fibo from yesterday's high to low. There will of course be lots of people (the herd) with sell orders around this level and if the smart money agree then we could see further down moves until the accumulation phase is complete.
The "effort to move up" bars do not necessarily indicate further moves north, it could be testing and further stop hunting and the drop in volume from the last M30 bar would skew things a little for the bulls.

Dazzer
I got 61.8 of the move 5496 to 5123 at 5265???
@pawpaw1000 on Twitter
  • #222,417
  • Apr 29, 2010 1:17am Apr 29, 2010 1:17am
[quote=malcolmb14;3682516]
Quoting Dazzer

lucky guess and fact we had stopping vol on 5 min on way down

that made me reenter a long
Malcolmb.. just 3 words, I admire you!!!

I don't think I can be half of your patience guiding the newcomers.. You've done a really great job here bro. Job well done, bro. Really reminds me of my first year trading, I started to jump in when everyone have stop selling/buying..

I really like to vouch for you, but I don't know how . Hopefully someone here can help me on that. Sorry guys, I don't know what the vouch for but I think malcolmb deserve that, I think he deserve more than that...
  • #222,418
  • Apr 29, 2010 1:20am Apr 29, 2010 1:20am
[quote=A-speculator;3682604]
Quoting malcolmb14

Malcolmb.. just 3 words, I admire you!!!

I don't think I can be half of your patience guiding the newcomers.. You've done a really great job here bro. Job well done, bro. Really reminds me of my first year trading, I started to jump in when everyone have stop selling/buying..

I really like to vouch for you, but I don't know how . Hopefully someone here can help me on that. Sorry guys, I don't know what the vouch for but I think malcolmb deserve that, I think he deserve more than that...
you need another 2 vouches before you can vouch for someone else...
@pawpaw1000 on Twitter
  • #222,419
  • Apr 29, 2010 1:20am Apr 29, 2010 1:20am
Quoting pawpaw1000
I got 61.8 of the move 5496 to 5123 at 5265???
Yesterdays high at 1.52871
Yesterdays low at 1.51248

61.8 fibo at 1.52251

If you look at the total moves down over the last few days, the 61.8 is at 1.53548, but that looks a long way off at the moment.

Dazzer

Edit: Of course this will depend on your counterparty... erm sorry... broker
  • #222,420
  • Apr 29, 2010 1:24am Apr 29, 2010 1:24am
Quoting Dazzer
Yesterdays high at 1.52871
Yesterdays low at 1.51248

61.8 fibo at 1.52251

If you look at the total moves down over the last few days, the 61.8 is at 1.53548, but that looks a long way off at the moment.

Dazzer

Edit: Of course this will depend on your counterparty... erm sorry... broker
so when you draw fibos, you take previous days h/l... instead of swing h/l?
@pawpaw1000 on Twitter
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