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Cable Update (GBPUSD)

  • #227,581
  • May 19, 2010 8:07am May 19, 2010 8:07am
By the way

this PA looks as if its interested in kissing 4500, lovesick PA

http://img249.imageshack.us/img249/6532/96132069.gif
  • #227,582
  • May 19, 2010 8:20am May 19, 2010 8:20am
Quoting forexlion
By the way

this PA looks as if its interested in kissing 4500, lovesick PA

http://img249.imageshack.us/img249/6532/96132069.gif
but the fact is

i will love to short cable with SL of 4510 and TP of 3900
  • #227,583
  • May 19, 2010 8:30am May 19, 2010 8:30am
The 30/30 pivot trading system performed again this morning...

The midnight pivot is 1.4346... candle formed below the pivot which gave a sell (if formed above, buy)

entry sell limit 1.4346-21 = 1.4325

SL: 30
TP: 30 (Chart pips)
TP level hit after about 30mins of entry

sorry about the red arrows.. please ignore
Attached Image (click to enlarge)
Click to Enlarge Name: 30 30.JPG Size: 57 KB
  • #227,584
  • May 19, 2010 8:33am May 19, 2010 8:33am
Quoting forexlion
but the fact is

i will love to short cable with SL of 4510 and TP of 3900
You should have done it at M15 / 200 ( 1.4375/80) or wait untill reaches 1.4407 (DP yesterday) /1.4432 (R1) ). I don't dare short if back below DP 1.4343 again ! Just thought !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #227,585
  • May 19, 2010 8:35am May 19, 2010 8:35am
Quoting manize
You should have done it at M15 / 200 ( 1.4375/80), I don't dare short if back below DP 1.4343 again !
unless my tail agrees i never take a trade

since my tail does not agree to shorts, i will prefer to wait and let cable top out first
  • #227,586
  • May 19, 2010 8:36am May 19, 2010 8:36am
Quoting manize
You should have done it at M15 / 200 ( 1.4375/80), I don't dare short if back below DP 1.4343 again !
you are having a good day , nicely done
  • #227,587
  • May 19, 2010 8:43am May 19, 2010 8:43am
Quoting forexlion
unless my tail agrees i never take a trade

since my tail does not agree to shorts, i will prefer to wait and let cable top out first



nice golden tail
  • #227,588
  • May 19, 2010 8:45am May 19, 2010 8:45am
Somewhere here cable should stop retracing, and resume downtrend

lets see where exactly it turns
  • #227,589
  • May 19, 2010 8:47am May 19, 2010 8:47am
4250 is now our dead nuts brick wall support
  • #227,590
  • May 19, 2010 8:50am May 19, 2010 8:50am
May 19 (Bloomberg) -- U.S. stock-index futures pared losses as the euro rallied against the dollar on speculation the European Central Bank will announce further steps to halt the region’s debt crisis.

“There’s speculation that the ECB will be having an announcement,” said David Lutz, managing director of equity trading at Stifel Nicolaus & Co. in Baltimore. “I believe it’s going to be more of a sovereign-fiscal issue as opposed to an interest-rate issue.”

Futures on the Standard & Poor’s 500 Index expiring next month dropped 0.5 percent to 1,113.4 at 8:27 a.m. in New York after tumbling as much as 1.2 percent. The euro climbed 0.3 percent to $1.2233, rebounding from a four-year low early today.

Seems GBP is getting more help than Euro though. Should have known really, I got rid of a load of shares this morning for a loss as things were tumbling, they will bounce back now! Not getting back in though, very odd times at the moment!
Back to basics, it has to be for me!
  • #227,591
  • May 19, 2010 8:50am May 19, 2010 8:50am
Quoting Ctic
Jim,

As I do feel this may rise a bit, I would not be surprised to see if we test the support line again. Every good daily rise usually comes with 2 tests of a support as highlighted in chart (some examples).

C.
Ok now we have our double bottom... Maybe now we can rise.
  • #227,592
  • May 19, 2010 8:52am May 19, 2010 8:52am
Quoting forexlion
Somewhere here cable should stop retracing, and resume downtrend

lets see where exactly it turns
What resume downtrend , you said it was over Friday what gives
  • #227,593
  • May 19, 2010 8:54am May 19, 2010 8:54am
Quoting digger1
you are having a good day , nicely done
Vodooo bodooo 1.4380 - 1.4360
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #227,594
  • May 19, 2010 9:02am May 19, 2010 9:02am
Quoting manize
Vodooo bodooo 1.4380 - 1.4360
lol, good job man , Today we had a nice clean double bottom put in for once , the resulting bounce has been a nice ride and as manize has pointed out the 15 minute 200 is giving it some fits
  • #227,595
  • May 19, 2010 9:13am May 19, 2010 9:13am
What a wierd crazy day .. PA is jumping all over the place on most pairs. Gold is collapsing. What spooked EJ and several other pairs earlier??
******************* I'd rather make money than be right.
  • #227,596
  • May 19, 2010 9:15am May 19, 2010 9:15am
Quoting digger1
lol, good job man , Today we had a nice clean double bottom put in for once , the resulting bounce has been a nice ride and as manize has pointed out the 15 minute 200 is giving it some fits
Could it also be forming a double top today too if we dont get out soon?

Double top from from Mon/Tue, Double Bottom spanning Mon Wed (Triple Bottom?).

I'm looking at H1, maybe they are not valid, I'll get back to reading....
Back to basics, it has to be for me!
  • #227,597
  • May 19, 2010 9:15am May 19, 2010 9:15am
1.4343 in play again !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #227,598
  • May 19, 2010 9:20am May 19, 2010 9:20am
Quoting manize
1.4343 in play again !
see how she acts around the open and the 5 min 200 here
  • #227,599
  • May 19, 2010 9:21am May 19, 2010 9:21am
i am out need the dam sleep i will be in inabout 2hours

best of luck to all


voodoo boodoo
  • #227,600
  • May 19, 2010 9:27am May 19, 2010 9:27am
and a very nice 45 pip bounce from the 5 minute 200 so far
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