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Cable Update (GBPUSD)

  • #222,481
  • Apr 29, 2010 5:28am Apr 29, 2010 5:28am
Quoting cloggie
5243 was my target from last night, we have moved on from there. See my posts since for my plan.

got some out of that call close early 20's no regret
  • #222,482
  • Apr 29, 2010 5:32am Apr 29, 2010 5:32am
since pound is finding seller (surprise surprise) on the way up I think what will happen is that price will kind of drift up and then will have sharp down movement to entice more bear (perhaps toward 1.52) and then nice rally... will be looking for sings

dont forget its thursday....Trend changing day buy the dips but trade your own charts )
  • #222,483
  • Apr 29, 2010 5:33am Apr 29, 2010 5:33am
the market is waiting for any news it could spike up or down risky

stop loss is a must we are stuck here
  • #222,484
  • Apr 29, 2010 5:33am Apr 29, 2010 5:33am
We must be close, M15 is running out of room on my screen.... Now where is that zoom button.
  • #222,485
  • Apr 29, 2010 5:34am Apr 29, 2010 5:34am
Quoting Dazzer
Depends on the TF. My TF says short and this is a rally in a bear market. Having said that, volume is drying on the M5 with these down bars.

Dazzer
Well, its up trend on my 1 hour chart here. I don't use low timeframes becuase they give many signals for a single day. I like staying with 1 to 3 signals a day from just a single pair than trading many times a day. So, I think it is up trend now and I will continue riding with it until it blends. I surely join you when my indicator says so for sure at 1.5192 or below and ride with the new trend. Still hoping the price continue going up I bought at 1.5247.
  • #222,486
  • Apr 29, 2010 5:36am Apr 29, 2010 5:36am
Quoting cloggie
My key here is the apparant rejection of 5243, I am giving it some time before I change my bias to bearish for today. Yes H1 and above are still bearish, M30 and below are bullish. Once they all line up again we will see 1.51. Untill then one needs to judge the end or continuation of the retrace. We have seen a few more honorary members of the smelly fingers brigade so far with the fake outs. I will keep mine clean as always.
Hey Cloggie,

Orders ready typed out for the short and then in the last minute of that M30 price jumped nearly 20 pips to form another doji and invalidated it yet again.
Another sucker punch by the pros if you couldn't wait for the bar to close. ALWAYS WAIT FOR THE BAR TO CLOSE. 12 months ago I'd have been sucked in twice already to those school-boy errors which end in dojis. A good scalping day today if your balls are big enough. Mine sadly are not.

Glad you're not smelly

Dazzer
  • #222,487
  • Apr 29, 2010 5:36am Apr 29, 2010 5:36am
Quoting tundeakins
Well, its up trend on my 1 hour chart here. I don't use low timeframes becuase they give many signals for a single day. I like staying with 1 to 3 signals a day from just a single pair than trading many times a day. So, I think it is up trend now and I will continue riding with it until it blends. I surely join you when my indicator says so for sure at 1.5192 or below and ride with the new trend. Still hoping the price continue going up I bought at 1.5247.

Uptrend on H1? with a high of 5496 on the 26th at midnight and we are now at 1.52507, how is that an uptrend...... I call this a retrace, entirely different animal.
  • #222,488
  • Apr 29, 2010 5:39am Apr 29, 2010 5:39am
Quoting Dazzer
Hey Cloggie,

Orders ready typed out for the short and then in the last minute of that M30 price jumped nearly 20 pips to form another doji and invalidated it yet again.
Another sucker punch by the pros if you couldn't wait for the bar to close. ALWAYS WAIT FOR THE BAR TO CLOSE. 12 months ago I'd have been sucked in twice already to those school-boy errors which end in dojis. A good scalping day today if your balls are big enough. Mine sadly are not.

Glad you're not smelly

Dazzer

I always use the river analogy. I wait for the river to start flowing and jump on my lilo with a beer in hand to enjoy the ride, I don't jump into the rapids. I may miss part of the ride because I don't get in at tops and bottoms, but my ride is gentle and has a clear direction. Right now I am pumping up my lilo and stocking up on beer, once the river flows in a direction I will gently ascend and enjoy the scenery.
  • #222,489
  • Apr 29, 2010 5:39am Apr 29, 2010 5:39am
1hr, it could be argued is looking bullish with a h above last 3 x LH, although it is still not in an opa (overall price action) uptrend yet as measures by the peaks/valleys.


G/L

http://i40.tinypic.com/16nry9.jpg
ex member
  • #222,490
  • Apr 29, 2010 5:40am Apr 29, 2010 5:40am
Quoting tundeakins
Well, its up trend on my 1 hour chart here. I don't use low timeframes becuase they give many signals for a single day. I like staying with 1 to 3 signals a day from just a single pair than trading many times a day. So, I think it is up trend now and I will continue riding with it until it blends. I surely join you when my indicator says so for sure at 1.5192 or below and ride with the new trend. Still hoping the price continue going up I bought at 1.5247.
Why do you buy at that price (5247)? That is exactly the resistance..
  • #222,491
  • Apr 29, 2010 5:40am Apr 29, 2010 5:40am
Quoting tundeakins
Well, its up trend on my 1 hour chart here. I don't use low timeframes becuase they give many signals for a single day. I like staying with 1 to 3 signals a day from just a single pair than trading many times a day. So, I think it is up trend now and I will continue riding with it until it blends. I surely join you when my indicator says so for sure at 1.5192 or below and ride with the new trend. Still hoping the price continue going up I bought at 1.5247.

Yep, we may see the upper line before any bearish moves. I very nearly jumped the gun twice today.

But been there and beat myself up many times before learning the hard way.

Good luck to you

Dazzer
  • #222,492
  • Apr 29, 2010 5:41am Apr 29, 2010 5:41am
Quoting wormboy
5280 test would be nice

Haha, nice, I think we are going far more than 5280
  • #222,493
  • Apr 29, 2010 5:43am Apr 29, 2010 5:43am
Quoting cloggie
I always use the river analogy. I wait for the river to start flowing and jump on my lilo with a beer in hand to enjoy the ride, I don't jump into the rapids. I may miss part of the ride because I don't get in at tops and bottoms, but my ride is gentle and has a clear direction. Right now I am pumping up my lilo and stocking up on beer, once the river flows in a direction I will gently ascend and enjoy the scenery.

Love that post.
  • #222,494
  • Apr 29, 2010 5:44am Apr 29, 2010 5:44am
Quoting Dazzer
Yep, we may see the upper line before any bearish moves. I very nearly jumped the gun twice today.

But been there and beat myself up many times before learning the hard way.

Good luck to you

Dazzer
You mean you nearly sell or buy?
  • #222,495
  • Apr 29, 2010 5:46am Apr 29, 2010 5:46am
Quoting tundeakins
You mean you nearly sell or buy?

Why would anyone buy or sell at 5247, we are at a pivotal resistance on H1 with no clear direction why not wait until we have a confirmation, lots less stress, lots less risk, greater rewards.
  • #222,496
  • Apr 29, 2010 5:48am Apr 29, 2010 5:48am
Quoting tundeakins
You mean you nearly sell or buy?
Nearly sold twice. I made some dough on a long at 1.5186 earlier and thats been all so far today.

Dazzer
  • #222,497
  • Apr 29, 2010 5:49am Apr 29, 2010 5:49am
Quoting Dazzer
Love that post.
he is treating her like a women no rush
  • #222,498
  • Apr 29, 2010 5:50am Apr 29, 2010 5:50am
Quoting kill56
he is treating her like a women no rush

Yup, looking for my 2-3 trades a day on cable at 50-100 pips, be gentle, respect her, treat her nice and she will reward you. Jumping in like a bat our of hell scaring the sh!t out of you and her will not get you anywhere. Respect her resistances and don't force it.

Think about it logically, we just had a 124 pip run up do you really think she is ready to go further, or does she need a break, have a cigarette, watch some TV and see if she wants another ride.
  • #222,499
  • Apr 29, 2010 5:51am Apr 29, 2010 5:51am
Quoting cloggie
Why would anyone buy or sell at 5247, we are at a pivotal resistance on H1 with no clear direction why not wait until we have a confirmation, lots less stress, lots less risk, greater rewards.
hey cloggs,

m15 could give us a close below ltl if it continues like this. My MA signals would then also be close to short signal...
@pawpaw1000 on Twitter
  • #222,500
  • Apr 29, 2010 5:51am Apr 29, 2010 5:51am
Quoting cloggie
Why would anyone buy or sell at 5247, we are at a pivotal resistance on H1 with no clear direction why not wait until we have a confirmation, lots less stress, lots less risk, greater rewards.
Which indicator are you using? Did you use pivot points?
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