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Cable Update (GBPUSD)

  • #229,621
  • Jun 3, 2010 6:42am Jun 3, 2010 6:42am
Quoting OldReigatian
Got to hand it to you, you're a brave man. If it gets to 4650 I'll tip my hat to you. My view is that we going up to yesterday's high, plus a bit more.
Missed the bid by 1pip .. but thats ok .. I am out at 1.4655 ...

now let it go up , down or sideways .. I dont care

got 55 pips here and 70 on EU...
  • #229,622
  • Jun 3, 2010 6:43am Jun 3, 2010 6:43am
Quoting cloggie
No thanks, I take my 2-3 trades per currency pair at 60-100 pips per trade each day and that suits me just fine.
Impressive, Then I would just keep doing that!
  • #229,623
  • Jun 3, 2010 6:45am Jun 3, 2010 6:45am
Quoting cloggie
Bounces like these of the SR's are a scalpers paradise, any failure of 4658 to the downside, would inevitably see a retest of it as resistance followed by a test of 4634 as support with a bounce back to 4658 before 4634 gives way and the play gets repeated. I am not a scalper, don't have the patience and am unwilling to give my broker that much in commissions. Playing the bounces of SR can be very profitable as long as you get good execution and little or no slippage.
already scalp 100pips lol
Verily, in every difficulties there is relief
  • #229,624
  • Jun 3, 2010 6:49am Jun 3, 2010 6:49am
Quoting cloggie
Having had a close below 4676 after several failed attempts and lot of buying on the dips, 4658 is now becoming key for further direction.


That is why you are the Guru. Many thanks
  • #229,625
  • Jun 3, 2010 6:50am Jun 3, 2010 6:50am
Quoting cloggie
No thanks, I take my 2-3 trades per currency pair at 60-100 pips per trade each day and that suits me just fine.
stick with what u know best u way of trading is great a few pips every day is not bad and no itchy fingers
  • #229,626
  • Jun 3, 2010 6:50am Jun 3, 2010 6:50am
Quoting kanakzz
Missed the bid by 1pip .. but thats ok .. I am out at 1.4655 ...

now let it go up , down or sideways .. I dont care

got 55 pips here and 70 on EU...
Congrats. I'll still tip my hat as I didn't expect it to get below 4660. I closed out my long as we are getting too close to news. I'll look for entry later. Still got 180 pips today so far (mainly scalping before London open) so I'm happy not to give any back.
  • #229,627
  • Jun 3, 2010 7:00am Jun 3, 2010 7:00am
Quoting OldReigatian
Congrats. I'll still tip my hat as I didn't expect it to get below 4660. I closed out my long as we are getting too close to news. I'll look for entry later. Still got 180 pips today so far (mainly scalping before London open) so I'm happy not to give any back.
Great bro .. keep it up ... 180 green pips a day is just awesome ....... Congrats ...
  • #229,628
  • Jun 3, 2010 7:04am Jun 3, 2010 7:04am
Quoting Sunsi
I agree. But a little bounce at 4658 was very likely, and it did bounce up tp 4675 again. So i thought it was a good trade for a short scalp.


I am curoius about how you determined that 4675 was the best point to exit your scalp. You were accurate.

Was it the 23.6 Fib on the latest Swing at that point on M15?
  • #229,629
  • Jun 3, 2010 7:10am Jun 3, 2010 7:10am
Quoting kill56
hi all

the ema200 did hold the up move on H4 now we are below H3 but above weekly H4 we need a break on any side for now L3 is closer

i think the market will range around L3 and H3 waiting for NFP unless we break them
enjoy the ride green pips for all
Hi kill,

Now GU is just the same like yesterday. 20ema cross 50ema below H3. are we going to L3 as well today?

Bought EU 3 times on H4 and loss all I thought it going to H5. Did I read the cams correctly?
  • #229,630
  • Jun 3, 2010 7:19am Jun 3, 2010 7:19am
Quoting Bydyke
I am curoius about how you determined that 4675 was the best point to exit your scalp. You were accurate.

Was it the 23.6 Fib on the latest Swing at that point on M15?
Showed alot of support there on the m15 chart earlier. Tried 5 times to break it and failed. Then it would also become strong support when it came up again. Not likely to break it on first try. So a good exit point for a scalp.
  • #229,631
  • Edited 7:32am Jun 3, 2010 7:21am | Edited 7:32am
US News NFE 55 K < Forecast (68 K) --> theoryticaly good for USD, but I don't know how far the effect, time will tell the truth !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #229,632
  • Jun 3, 2010 7:27am Jun 3, 2010 7:27am
Quoting a2xm
Hi kill,

Now GU is just the same like yesterday. 20ema cross 50ema below H3. are we going to L3 as well today?

Bought EU 3 times on H4 and loss all I thought it going to H5. Did I read the cams correctly?
2 charts for u

gu we did not pass H4 to go to H5 its now between the H3 and DP it did visit DP 3 times a break of the DP will take us lower lets see what the news will do in 5m

i am flat now dont trade the news
  • #229,633
  • Jun 3, 2010 7:28am Jun 3, 2010 7:28am
sorry the charts
Attached Image (click to enlarge)
Click to Enlarge Name: 15m cable n.gif Size: 18 KB
  • #229,634
  • Jun 3, 2010 7:32am Jun 3, 2010 7:32am
again
Attached Image (click to enlarge)
Click to Enlarge Name: 15eur.gif Size: 15 KB
  • #229,635
  • Jun 3, 2010 7:35am Jun 3, 2010 7:35am
darn ff did eat half of my post
  • #229,636
  • Jun 3, 2010 7:41am Jun 3, 2010 7:41am
m15 we need to break the DP lets wait and see

not much reaction to the news waiting for the NFP
Attached Image (click to enlarge)
Click to Enlarge Name: 15m cable n.gif Size: 18 KB
  • #229,637
  • Jun 3, 2010 7:52am Jun 3, 2010 7:52am
buy @4661
sl @4645
Verily, in every difficulties there is relief
  • #229,638
  • Jun 3, 2010 7:55am Jun 3, 2010 7:55am
Quoting a2xm
Hi kill,

Now GU is just the same like yesterday. 20ema cross 50ema below H3. are we going to L3 as well today?

Bought EU 3 times on H4 and loss all I thought it going to H5. Did I read the cams correctly?
When trading multiple pairs it can be to your benefit to understand the full range of motion, having a comprehension of strength and weakness with a full concept of support and resistance not only with the pair that you trade, but also to understand its trade relating pairs.

At a glance....

1.EG, showing to be bearish, Euro has weakness, weekly chart heading for 200EMA.
2.GU, Has a predefined top and has met with resistance, Sherpa H4.
3.IF Euro is the weaker of the pairs, and Cable is headed to the basement, Euro will be doing pretty much the same.
4.EU shows a very tough resistance range on the H1 200EMA.

Understanding trade relations on multiple pairs can increase your probability of success in the market. Assumption can lead to your market demise.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EGdaily.jpg Size: 124 KB
Click to Enlarge Name: cable4.jpg Size: 109 KB
Click to Enlarge Name: euh1.jpg Size: 160 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #229,639
  • Jun 3, 2010 8:03am Jun 3, 2010 8:03am
For those that insist on bucking the trend...

The 1m chart shows that we have lost support and are trailing the 1m 200ema south side. Price is currently below the red dotted line, 1000EMA, or the 200ema on 5m chart...

Watching for short ops might prove to be a little more profitable on the day...

But hey, it's your money, do what you want....
Attached Image (click to enlarge)
Click to Enlarge Name: Cablem.jpg Size: 120 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #229,640
  • Jun 3, 2010 8:10am Jun 3, 2010 8:10am
Quoting Magix
For those that insist on bucking the trend...

The 1m chart shows that we have lost support and are trailing the 1m 200ema south side. Price is currently below the red dotted line, 1000EMA, or the 200ema on 5m chart...

Watching for short ops might prove to be a little more profitable on the day...

But hey, it's your money, do what you want....
Well said.
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