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Cable Update (GBPUSD)

  • #230,361
  • Jun 7, 2010 11:47pm Jun 7, 2010 11:47pm
I feel like it's correction time now. unless it isn't
"The real genius is knowing when to stop." - Marc Faber
  • #230,362
  • Jun 7, 2010 11:55pm Jun 7, 2010 11:55pm
im waiting for 1.4520 false break
Verily, in every difficulties there is relief
  • #230,363
  • Jun 8, 2010 12:11am Jun 8, 2010 12:11am
Quoting Nene
Sorry, need sleep. gonna hang for a little longer then hit the sack.

Jim
Jim, this is not my war but mate, stand up for yourself, one thing that needs to be upheld is your pride mate. You gotta learn to shut him up as i have done in the past by proving him wrong.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,364
  • Jun 8, 2010 12:17am Jun 8, 2010 12:17am
Yesterday's post

http://www.forexfactory.com/showpost...stcount=230221

Today's Update
Attached Image (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 133 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,365
  • Jun 8, 2010 12:22am Jun 8, 2010 12:22am
Went long at 1.4395 aim 1.4512. Done ! Lucky!
  • #230,366
  • Jun 8, 2010 12:25am Jun 8, 2010 12:25am
I was wondering if any of you traders out there who use volume in your analysis happen to have noticed whether or not there is a reduction in volume currently, now that the summer months have begun. It sure seems to me like that might be the case with the weird price action. thanks in advance...
"The real genius is knowing when to stop." - Marc Faber
  • #230,367
  • Jun 8, 2010 12:27am Jun 8, 2010 12:27am
Quoting primzvicious
im waiting for 1.4520 false break
set sl @BE

will find another top if such thing exist
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 23 KB
Verily, in every difficulties there is relief
  • #230,368
  • Jun 8, 2010 12:27am Jun 8, 2010 12:27am
I am with Bull-Bear on this one today, H4 is still forming a consolidation after that big drop earlier and we could well see 4562 into play today before a move further South. I am flat cable so far, just taking some shorts on fibre for the London break letting cable play out its consolidation until it makes up its mind. And my fibre short is not behaving either so far, so I may well give up on that one and be flat on all of them for this morning.
  • #230,369
  • Jun 8, 2010 12:33am Jun 8, 2010 12:33am
This week:

Haven't had a definitive close and continuation above H3.
Yesterday when it was @ 1.4535 and today @ 1.4514.

4H candles have failed to close above these levels. A good
test may come with the close of this 4H in the next 30min.

Dr. D.
  • #230,370
  • Jun 8, 2010 12:35am Jun 8, 2010 12:35am
Quoting fourxtrader
This week:

Haven't had a definitive close and continuation above H3.
Yesterday when it was @ 1.4535 and today @ 1.4514.

4H candles have failed to close above these levels. A good
test may come with the close of this 4H in the next 30min.

Dr. D.

My H4 just opened I picked my broker for my charting so that the H4 corresponds with the London open.
  • #230,371
  • Jun 8, 2010 12:42am Jun 8, 2010 12:42am
i went long at 1.4468, s/l 1.4383, t/p 1.4671. not looking good at the moment could be a fake out. good luck to all
  • #230,372
  • Jun 8, 2010 12:44am Jun 8, 2010 12:44am
Quoting cloggie
My H4 just opened I picked my broker for my charting so that the H4 corresponds with the London open.
Good point cloggie. Mine closes when I get sleepy. (Pacific time zone)

Dr. D.
  • #230,373
  • Jun 8, 2010 12:47am Jun 8, 2010 12:47am
Quoting fourxtrader
Good point cloggie. Mine closes when I get sleepy. (Pacific time zone)

Dr. D.
It is a point that most traders don't realise, your datafeed must match your trading plan, especially concerning the daily bar and the H4 bar. My daily opens at London Midnight.
  • #230,374
  • Jun 8, 2010 12:53am Jun 8, 2010 12:53am
Quoting fxoxford
i went long at 1.4468, s/l 1.4383, t/p 1.4671. not looking good at the moment could be a fake out. good luck to all

That is not a bad call in the grand scheme of things, H4 is still consolidating and 4562 is still in play here before a move South, just expect it to be an arduous corkscrew up. I do think that 4671 is bit overconfident though, we are still in a downtrend and a 200 pip move is a bit farfetched. I take it one step at a time, or at least one resistance at a time. We like originality and bold moves here, no guts, no glory.
  • #230,375
  • Jun 8, 2010 12:58am Jun 8, 2010 12:58am
Quoting cloggie
That is not a bad call in the grand scheme of things, H4 is still consolidating and 4562 is still in play here before a move South, just expect it to be an arduous corkscrew up. I do think that 4671 is bit overconfident though, we are still in a downtrend and a 200 pip move is a bit farfetched.
i agree, i just hate trading in these conditions, there is nothing realy solid at the moment.
  • #230,376
  • Jun 8, 2010 12:59am Jun 8, 2010 12:59am
Quoting cloggie
It is a point that most traders don't realise, your datafeed must match your trading plan, especially concerning the daily bar and the H4 bar. My daily opens at London Midnight.

In this international audience we should ban all
discussions dealing with any tf above 1H.

I've got daily charts that open with the asian
session and cam's that open with the NY close.


Dr. D.
  • #230,377
  • Jun 8, 2010 12:59am Jun 8, 2010 12:59am
Quoting fxoxford
i agree, i just hate trading in these conditions, there is nothing realy solid at the moment.

Sometimes being flat and not in a trade is a trade in itself, capital preservation.
  • #230,378
  • Jun 8, 2010 1:00am Jun 8, 2010 1:00am
Quoting fourxtrader
In this international audience we should ban all
discussions dealing with any tf above 1H.

I've got daily charts that open with the asian
session and cam's that open with the NY close.


Dr. D.

All my charting is lined up for the London open, and London midnight.
  • #230,379
  • Jun 8, 2010 1:01am Jun 8, 2010 1:01am
Quoting cloggie
Sometimes being flat and not in a trade is a trade in itself, capital preservation.
oh i know this i been doing this for awhile. good advice to a newbie tho
  • #230,380
  • Jun 8, 2010 1:05am Jun 8, 2010 1:05am
Quoting cloggie
That is not a bad call in the grand scheme of things, H4 is still consolidating and 4562 is still in play here before a move South, just expect it to be an arduous corkscrew up. I do think that 4671 is bit overconfident though, we are still in a downtrend and a 200 pip move is a bit farfetched. I take it one step at a time, or at least one resistance at a time. We like originality and bold moves here, no guts, no glory.
A little beginner trader since 2006
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