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Cable Update (GBPUSD)

  • #230,601
  • Jun 8, 2010 2:56pm Jun 8, 2010 2:56pm
All 4 walking together to challenge the 200EMA on 5m.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,602
  • Jun 8, 2010 3:11pm Jun 8, 2010 3:11pm
Quoting Magix
All 4 walking together to challenge the 200EMA on 5m.
Good stuff Magix A tug of war.
I played the M1 cross of the 200 up for 22p. Then went short at the M5 200. Given the time of day and a Cam, I'll stick with the trend at that level - until the market decides otherwise
The market is always right.
  • #230,603
  • Jun 8, 2010 3:12pm Jun 8, 2010 3:12pm
Quoting Artie
Good stuff Magix A tug of war.
I played the M1 cross of the 200 up for 22p. Then went short at the M5 200. Given the time of day and a Cam, I'll stick with the trend at that level - until the market decides otherwise
Nicely done Artie.

Would have to agree that this late in NY, hard to say where we are headed.

Will be watching the M5 for Trig side down and 1m for a little more headroom.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,604
  • Jun 8, 2010 3:34pm Jun 8, 2010 3:34pm
Quoting Magix
Will be watching the M5 for Trig side down and 1m for a little more headroom.
Neckline broken - stop hit. Will look for a pull back to the 200 for a long.
The market is always right.
  • #230,605
  • Jun 8, 2010 3:40pm Jun 8, 2010 3:40pm
Quoting Artie
Neckline broken - stop hit. Will look for a pull back to the 200 for a long.
Yarned a quick dozen on the 1m trigger.

Done for the afternoon now...

Got a meeting this afternoon, will see ya for Asian Session.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,606
  • Jun 8, 2010 4:07pm Jun 8, 2010 4:07pm
i think this want go down Maybe 1.4300 and then go up to 1.4600

http://forexrainbow.com/files/4v32f0vgtq31snsx5vht.gif
  • #230,607
  • Jun 8, 2010 4:17pm Jun 8, 2010 4:17pm
hi all

these are indis with alert plz try in lower TF's AND info back is cool
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File Type: zip kill indis w alert.zip   993 KB | 529 downloads
  • #230,608
  • Jun 8, 2010 5:06pm Jun 8, 2010 5:06pm
Quoting fourxtrader
.....the making of a neat inverted H/S.

Dr. D.

With or without confidence building cams, looks like one to me.

Dr. D.
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  • #230,609
  • Jun 8, 2010 5:20pm Jun 8, 2010 5:20pm
200 did hold on m15 lets see if we repeat yesterday PA
  • #230,610
  • Jun 8, 2010 5:22pm Jun 8, 2010 5:22pm
the chart
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  • #230,611
  • Jun 8, 2010 5:29pm Jun 8, 2010 5:29pm
We were looking for that L5 target Dr D, but it didnt happen.

Been out for a good few hours.

From H3 to L4, nice ride, got stopped out on the reverse through L4, +130 pips. Couldnt see the reversal, until i drew the trendline.

Lesson learned, cams are great, but be aware of the bigger picture.

Thank you Kill and Dr D, for bringing cams to the thread.

Warren
I need to finish something i started
  • #230,612
  • Jun 8, 2010 5:44pm Jun 8, 2010 5:44pm
Quoting bigwal
We were looking for that L5 target Dr D, but it didnt happen.

Been out for a good few hours.

From H3 to L4, nice ride, got stopped out on the reverse through L4, +130 pips. Couldnt see the reversal, until i drew the trendline.

Lesson learned, cams are great, but be aware of the bigger picture.

Thank you Kill and Dr D, for bringing cams to the thread.

Warren
bro the thanks gos to digger the master of cam's and Dr.D
  • #230,613
  • Jun 8, 2010 5:51pm Jun 8, 2010 5:51pm
Quoting Magix
Sherpa 5m.

No new low, might be viewed as an inverted head and shoulders. No new low on second attempt to cross the 200ema on 5m, If we close above here, target 200EMA on M15.
It's as if she is listening to you....
******************* I'd rather make money than be right.
  • #230,614
  • Jun 8, 2010 6:25pm Jun 8, 2010 6:25pm
There is potential reversal on the H1 once the divergence kicks in & once price clears 4490 level to start building long positions again. Interesting enough yesterday's dip wasn't enough to take out the w1 fib level & an ascending ltl from 20th May low.
I will not be looking to short from this level, unless the two mentioned confluence levels are taken out. There is a good chance of getting whipsawed out of positions trying to short from here imho.

Let's see how it goes.
Good luck!
Attached Image (click to enlarge)
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Thank You
  • #230,615
  • Jun 8, 2010 7:31pm Jun 8, 2010 7:31pm
Quoting kill56
today the es did come close to 1040 the low was 1041.25 a break of 1040 i think will take us to 980 i do believe we will see 980 its a matter of time any thoughts

thoughts as usual killed the ES , was trading with another that look in form time to time. He thinks I am a complete witch as i call the es moves before they happen and exact targets. Once you get to know her she is easy to tame

The mark down to 1141 was met with stopping vol on 10 , took us back to 1055 where it stopped dead , formed a nice dt on 10 min chart for a sell to 1045 , where we saw selling vol on a 10 min dry up completely. My comment to my trading buddy was ' something not right here thery gonna take her back up ' our target 1060. was another simple day even though it was choppy

as for the daily we have a 2 day reversal pattern .A break out of 1060 opens 1075 .

with the es you have to treat it day by day , allowing the open range to form and watch price action carefully. I trade her naked with just volume and simple s/r lines.

Not sure what tomorrow brings but if that 2 day reversal on the daily plays out then we see some form of up move into 1075 / 1080 area.
Blogging daily now at www.volume.zone
  • #230,616
  • Jun 8, 2010 7:45pm Jun 8, 2010 7:45pm
Quoting malcolmb14
thoughts as usual killed the ES , was trading with another that look in form time to time. He thinks I am a complete witch as i call the es moves before they happen and exact targets. Once you get to know her she is easy to tame

The mark down to 1141 was met with stopping vol on 10 , took us back to 1055 where it stopped dead , formed a nice dt on 10 min chart for a sell to 1045 , where we saw selling vol on a 10 min dry up completely. My comment to my trading buddy was ' something not right here thery gonna take her back up ' our target 1060....
thanks i agree with u es it day by day its a lot easier to read dow
  • #230,617
  • Jun 8, 2010 7:58pm Jun 8, 2010 7:58pm
some make things way to complicated ... this n that lines all over the place ... even I have been guilty of the same thing but after traidng es on key s/r levels, almost naked, life has come back to simplicity.

fact is what do we know about gu form a few weeks back ?

we know that 4380 to 4480 are s/r zones.
we know from today's down move before bounce that buyers at 4380 ( support line)
we know that at 4436 a top was formed ( resistance)

pretty damn simple if you ask me .. almost no brainer

long off 1.4400 with stop 10 pip

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Blogging daily now at www.volume.zone
  • #230,618
  • Jun 8, 2010 8:11pm Jun 8, 2010 8:11pm
i will sell the rallies till we break the tl
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  • #230,619
  • Jun 8, 2010 9:16pm Jun 8, 2010 9:16pm
Quoting wormboy
There is potential reversal on the H1 once the divergence kicks in & once price clears 4490 level to start building long positions again. Interesting enough yesterday's dip wasn't enough to take out the w1 fib level & an ascending ltl from 20th May low.
I will not be looking to short from this level, unless the two mentioned confluence levels are taken out. There is a good chance of getting whipsawed out of positions trying to short from here imho.

Let's see how it goes.
Good luck!
low profile???., what did you say wormy? "IMHO" ?....,
I will be the number one Manager.
  • #230,620
  • Jun 8, 2010 9:27pm Jun 8, 2010 9:27pm
Quoting wormboy
There is potential reversal on the H1 once the divergence kicks in & once price clears 4490 level to start building long positions again. Interesting enough yesterday's dip wasn't enough to take out the w1 fib level & an ascending ltl from 20th May low.
I will not be looking to short from this level, unless the two mentioned confluence levels are taken out. There is a good chance of getting whipsawed out of positions trying to short from here imho.
Definitely looking like it's gonna be a tough day, for me at least.
Tight 6 pip range between dp & day open price making it hard to gauge intraday bias. Earlier drop was quickly pulled back to where it was.
Looking to go with the H1 bullish divergence, & conveniently the qtr res today is @4487, 3 pips off the earlier projected 4490 mark.
Guess I'll have to wait till at least FO later before attempting any trade.
Position is still flat.
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Thank You
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