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Cable Update (GBPUSD)

  • #223,901
  • May 5, 2010 8:13am May 5, 2010 8:13am
Quoting hhitch
oh I thought maybe you were there when Al Gore invented it
good one


bro no break no shack do u remember
  • #223,902
  • May 5, 2010 8:15am May 5, 2010 8:15am
Quoting primzvicious
i saw a bear
Verily, in every difficulties there is relief
  • #223,903
  • May 5, 2010 8:16am May 5, 2010 8:16am
heh euro is in panic sell mode, you can just see it being dumped... pound on the other hand is just being sucked into it too....as soon as euro stabilises ( when is that?) pound should head north...
  • #223,904
  • May 5, 2010 8:30am May 5, 2010 8:30am
euro finds nice support at 1.28 perhaps it will stop here.....or will it.. i think it should. went long actually at 1.2810...

pound doesn't have its own mind at the moment
  • #223,905
  • May 5, 2010 8:32am May 5, 2010 8:32am
Quoting kill56
coming soon
You think it'll get to L4?
Back to basics, it has to be for me!
  • #223,906
  • May 5, 2010 8:33am May 5, 2010 8:33am
Quoting lexazver
euro finds nice support at 1.28 perhaps it will stop here.....or will it.. i think it should. went long actually at 1.2810...

pound doesn't have its own mind at the moment
That's pretty aggressive move my friend.. How can you long with 1 long 4hr candle like that?
  • #223,907
  • May 5, 2010 8:34am May 5, 2010 8:34am
Quoting lexazver
euro finds nice support at 1.28 perhaps it will stop here.....or will it.. i think it should. went long actually at 1.2810...

pound doesn't have its own mind at the moment

its a crazy day and risky greece on fire and they are talking about spain we might see 12700's soon be safe best of luck
  • #223,908
  • May 5, 2010 8:34am May 5, 2010 8:34am
Quoting lexazver
euro finds nice support at 1.28 perhaps it will stop here.....or will it.. i think it should. went long actually at 1.2810...

pound doesn't have its own mind at the moment
I closed my short for profit and will look for another short at a better price. I might have been premature, but the rate of decline has slowed.
  • #223,909
  • May 5, 2010 8:36am May 5, 2010 8:36am
Quoting BadTradingFi
You think it'll get to L4?
i think we will see 14900's today i might be wrong
  • #223,910
  • May 5, 2010 8:38am May 5, 2010 8:38am
Quoting bbakker
I closed my short for profit and will look for another short at a better price. I might have been premature, but the rate of decline has slowed.

dow with new lows but its so crazy u never know
  • #223,911
  • May 5, 2010 8:39am May 5, 2010 8:39am
so I really think I'm starting to get the hang of this voodoo boodoo stuff... let me run it by you guys to see if I'm correct... basically you use the MAs to delineate the support and resistance areas that price creates or brings with it as it moves around, and you wait for pullbacks to those areas in order to get good entries in the direction that you think price is going. yes? then you take profit when price reaches a logical endpoint of support or resistance... example camarilla pivot or L/H level. or even perhaps a fibonacci level. yes? then you wait for price to pullback again to one or more of the MAs and check its behaviour there to gauge for a new entry in the same direction. yes? I've done very well doing just that, this morning... I am wondering if there is any special routine you follow around the open of the NYSE at 9:30am NY time. anything to watch out for? or any other suggestions. I think this is awesome, it is going to make a huge change in my results.
"The real genius is knowing when to stop." - Marc Faber
  • #223,912
  • May 5, 2010 8:40am May 5, 2010 8:40am
Quoting A-speculator
That's pretty aggressive move my friend.. How can you long with 1 long 4hr candle like that?

because it was a panic sell and now it finds decent buyers, am not saying its over but it traveled like 600pips since the peak of the week and panic sells usually folowed buy good rallies as all who wanted to sell have sold (in panic) and when buyers step properly price should just shoot and im not saying 1000pipsw but +-100
  • #223,913
  • May 5, 2010 8:41am May 5, 2010 8:41am
Quoting bbakker
His smelly fingers might get burned. 500 pip drop since Sunday... wow!
it's only a reminder.. he's currently picking bottom in the middle of a move.. I think picking bottom is ok but let the price slow down first..
  • #223,914
  • May 5, 2010 8:43am May 5, 2010 8:43am
Quoting lexazver
because it was a panic sell and now it finds decent buyers, am not saying its over but it traveled like 600pips since the peak of the week and panic sells usually folowed buy good rallies as all who wanted to sell have sold (in panic) and when buyers step properly price should just shoot and im not saying 1000pipsw but +-100
Maybe you can do it that way, but I'll let the price into consolidation first, then decide on picking the bottom..

Anyway, trade safe my friend..

Happy pippin..
  • #223,915
  • May 5, 2010 8:44am May 5, 2010 8:44am
Quoting hhitch
so I really think I'm starting to get the hang of this voodoo boodoo stuff... let me run it by you guys to see if I'm correct... basically you use the MAs to delineate the support and resistance areas that price creates or brings with it as it moves around, and you wait for pullbacks to those areas in order to get good entries in the direction that you think price is going. yes? then you take profit when price reaches a logical endpoint of support or resistance... example camarilla pivot or L/H level. or even perhaps a fibonacci level. yes? then...

u got it right bro the only thing i ll do is wait to see which way is the market gos it takes 15-30m that gos for london and the us
  • #223,916
  • May 5, 2010 8:44am May 5, 2010 8:44am
Attached Image (click to enlarge)
Click to Enlarge Name: 100505_gbpusd_4h.png Size: 77 KB


It needs to breach this ltl on h4 for any movement further south today I feel. It tried and failed, but you never know!
  • #223,917
  • May 5, 2010 8:44am May 5, 2010 8:44am
Quoting lexazver
euro finds nice support at 1.28 perhaps it will stop here.....or will it.. i think it should. went long actually at 1.2810...

pound doesn't have its own mind at the moment
stop is set at 1.2813 now so briiing on freee money

btw....im just saying....BUT all arguments on here usually involve bbaker....just something ive noticed..
  • #223,918
  • May 5, 2010 8:45am May 5, 2010 8:45am
Quoting hhitch
so I really think I'm starting to get the hang of this voodoo boodoo stuff... let me run it by you guys to see if I'm correct... basically you use the MAs to delineate the support and resistance areas that price creates or brings with it as it moves around, and you wait for pullbacks to those areas in order to get good entries in the direction that you think price is going. yes? then you take profit when price reaches a logical endpoint of support or resistance... example camarilla pivot or L/H level. or even perhaps a fibonacci level. yes? then...
Kill seems to have answered all your questions here!
  • #223,919
  • May 5, 2010 8:46am May 5, 2010 8:46am
fantastic! thank you!

so how would you interpret today's NYSE action so far? I would say it's going to be bearish but it starts off with a big pullback. would you agree with that? if not, please let me know!

Quoting kill56
u got it right bro the only thing i ll do is wait to see which way is the market gos it takes 15-30m that gos for london and the us
"The real genius is knowing when to stop." - Marc Faber
  • #223,920
  • May 5, 2010 8:47am May 5, 2010 8:47am
Quoting kill56
i think we will see 14900's today i might be wrong
1.4900 would be around WL5. It is possible but it looks the area around ML4 and WL4 L3 is a nice support.
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