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Cable Update (GBPUSD)

  • #222,881
  • Apr 30, 2010 3:16am Apr 30, 2010 3:16am
Quoting Fr3ed0x
price will go 1.5404-1.54186 break on that 1.5460 this is the maximum for today.. that price will be touched 17:00 - 18:00 in time
5464 maximum.




says here on my mayan calendar
Thank You
  • #222,882
  • Apr 30, 2010 3:16am Apr 30, 2010 3:16am
Quoting Dazzer
Hi Hitch,
Its not a hanging man til we get a good bearish confirmation after the development of the candle with the long tail (as per your picture) and we haven't seen that yet. So that would lead me to think they're still dragon fly dojis at this point. I just checked Nison's book (you got me thinking)

Its all open to interpretation. I got a perfect hanging man yesterday and got stopped out as price continued higher.

Good luck

Dazzer
Dazzer,

Actually it is a hanging man. By definition, a hanging man is a 1 candlestick pattern. But like all patterns, confirmation is recommended before taking trade action. A hanging man is a low reliability pattern, thus confirmation is strongly recommended.
  • #222,883
  • Apr 30, 2010 3:17am Apr 30, 2010 3:17am
reversals or ends of trends are also phenomena that are seen frequently
"The real genius is knowing when to stop." - Marc Faber
  • #222,884
  • Apr 30, 2010 3:21am Apr 30, 2010 3:21am
yeah I was just saying that I noticed two hanging man's on the 15 min chart right below an R1 pivot. I didn't say I'd bet my firstborn on it

Quoting Ctic
Dazzer,

Actually it is a hanging man. By definition, a hanging man is a 1 candlestick pattern. But like all patterns, confirmation is recommended before taking trade action. A hanging man is a low reliability pattern, thus confirmation is strongly recommended.
"The real genius is knowing when to stop." - Marc Faber
  • #222,885
  • Apr 30, 2010 3:31am Apr 30, 2010 3:31am
ok my take on it is that it's probably not a real bull trap and it's probably not a real trend reversal. however I did just notice (thanks to the person that pointed it out) that there is banking holiday on monday in UK. so my guess is there is probably light volume and perhaps price will drift down, perhaps not. as Lion said it's probably a good day for scalpers. unless it's not
"The real genius is knowing when to stop." - Marc Faber
  • #222,886
  • Apr 30, 2010 3:31am Apr 30, 2010 3:31am
Quoting hhitch
yeah I was just saying that I noticed two hanging man's on the 15 min chart right below an R1 pivot. I didn't say I'd bet my firstborn on it
We are developing the confirmation now. Now its looking like a hanging man, but only if we break cleanly 1.5350 for the confirmation. Before, I would say DF dojis.

Dazzer
  • #222,887
  • Apr 30, 2010 3:34am Apr 30, 2010 3:34am
wow

I just trebled account on this 20 pip range ... see you all later i am off to Vegas to bet on red with money made!!!
Blogging daily now at www.volume.zone
  • #222,888
  • Apr 30, 2010 3:34am Apr 30, 2010 3:34am
I wonder to what extent the market is encouraged by David Cameron's supposed win in the 3rd Uk election debate last night, ie perhaps the momentum is with him in now, peaking at the right time ? Brown looked like a man drowning and Clegg didn't build on his first debate success, sticking to same platitudes....or will the € situation spread and take cable with it??

Time will tell.
ex member
  • #222,889
  • Apr 30, 2010 3:35am Apr 30, 2010 3:35am
Im long, with a TP of 1.5417

  • #222,890
  • Apr 30, 2010 3:35am Apr 30, 2010 3:35am
It's another boring day..

Sorry folks, nothing to report yet.. still the same as yesterday..
  • #222,891
  • Apr 30, 2010 3:37am Apr 30, 2010 3:37am
Quoting malcolmb14
wow

I just trebled account on this 20 pip range ... see you all later i am off to Vegas to bet on red with money made!!!
I will see you there. My plane gets in at noon tomorrow. I closed my FX account to bet it all on Black. I will save 5 bucks though so if I lose I can quickly win the $130 million jackpot on the slot machine. Then I will bet all that on black. Easy money, just like forex.
  • #222,892
  • Apr 30, 2010 3:37am Apr 30, 2010 3:37am
Quoting A-speculator
It's another boring day..

Sorry folks, nothing to report yet.. still the same as yesterday..
It is boring as i stayed up to knock another out of the park lie i did yesterday ... the pros are on to what i am up to and have put gu in a tight range just to mess with me ...lol
Blogging daily now at www.volume.zone
  • #222,893
  • Apr 30, 2010 3:38am Apr 30, 2010 3:38am
Quoting Acedup
Im long, with a TP of 1.5417

Im long with TP at 1.5404..
  • #222,894
  • Apr 30, 2010 3:40am Apr 30, 2010 3:40am
Lower volume on those last down bars on the M5 would seem to indicate that the pros are not interested in selling at these levels.

Cats: Did you pick up those extra volume indis I posted?

Good luck all

Dazzer
  • #222,895
  • Apr 30, 2010 3:41am Apr 30, 2010 3:41am
USD/CHF is pushing down quite heavily, that might indicate further northward motion in GBP/USD
"The real genius is knowing when to stop." - Marc Faber
  • #222,896
  • Apr 30, 2010 3:49am Apr 30, 2010 3:49am
Quoting malcolmb14
wow

I just trebled account on this 20 pip range ... see you all later i am off to Vegas to bet on red with money made!!!
stop it mal
  • #222,897
  • Apr 30, 2010 3:52am Apr 30, 2010 3:52am
Quoting malcolmb14
It is boring as i stayed up to knock another out of the park lie i did yesterday ... the pros are on to what i am up to and have put gu in a tight range just to mess with me ...lol
LOL.. well I have a PO @ 5280.. wonder will it get filled by today..

Anyway, I have no interest to long at current price. Got several other PO for other pairs still have not been filled yet.. what a day..

By the way, look at GJ, what a $hiit move .. I have a PO @ 143.40 and really didn't expect price will move up after a series of dojis at the resistance.. LOL. Sorry guys, out of topic, cable seems boring today..
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  • #222,898
  • Apr 30, 2010 3:54am Apr 30, 2010 3:54am
Quoting Dazzer
Lower volume on those last down bars on the M5 would seem to indicate that the pros are not interested in selling at these levels.

Cats: Did you pick up those extra volume indis I posted?

Good luck all

Dazzer
Hi Dazzer Just got back from a meeting with my solicitors ill download them now thanks in advance your a true gentleman and i really appreciate all the support I am now looking to range trade for a bit till the market decides what it wants to do i see there doesnt seem to be much seller support so long scalps off of dips for 15 - 20 pips a punt. hopefully the bulls will overcome and we will see the 5400+ as would be a really nice way to finish of the week ready for the bank holiday.
Trade what you see never what you think!
  • #222,899
  • Apr 30, 2010 3:56am Apr 30, 2010 3:56am
Quoting malcolmb14
It is boring as i stayed up to knock another out of the park lie i did yesterday ... the pros are on to what i am up to and have put gu in a tight range just to mess with me ...lol
Good job Mal.. See I told you you could make 2 pips. Monday let's shoot for 4.
  • #222,900
  • Apr 30, 2010 3:57am Apr 30, 2010 3:57am
Quoting Ctic
Good job Mal.. See I told you you could make 2 pips. Monday let's shoot for 4.
well I made 2 pip x 100 trades... so i am up 200 pip and now going to vegas
Blogging daily now at www.volume.zone
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