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Cable Update (GBPUSD)

  • #230,981
  • Jun 10, 2010 2:13am Jun 10, 2010 2:13am
In between MAGIX bashing here's the trade after TP hit at 1.4600.

I entered long again at 1.4539, next destination is 1.4650.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,982
  • Jun 10, 2010 2:15am Jun 10, 2010 2:15am
Quoting wormboy
looks like a possible move higher sin. I have a centerline convergence on my macd. don't see it on yours tho
okay, daily high printed & current price is testing yesterday's high & desc utl. Big tussle here atm. Cable also printed the rising three, a continuation pattern.
No shorts atm, unless price close below 4546 level.
Let's see how this goes. Good luck.
Attached Image (click to enlarge)
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Thank You
  • #230,983
  • Jun 10, 2010 2:16am Jun 10, 2010 2:16am
Quoting profxtrader
Care to show an example of your system there?
yep,
As you can see the last image. I have started to keep an eye on waves. what I look for is break of 1st waves high with a thrust candle (TC) closes below or above it. which means that wave 3 has begun. SL 40 and TP 60. Fingers crossed I am having good results. The arrows are manually placed.
  • #230,984
  • Jun 10, 2010 2:17am Jun 10, 2010 2:17am
Quoting Bleek
I wouldn't be too bearish on Cable.
That was my comment back in May, I still stand by that.
"I made all my money by selling too soon"
  • #230,985
  • Jun 10, 2010 2:22am Jun 10, 2010 2:22am
Quoting wormboy
okay, daily high printed & current price is testing yesterday's high & desc utl. Big tussle here atm. Cable also printed the rising three, a continuation pattern.
No shorts atm, unless price close below 4546 level.
Let's see how this goes. Good luck.
New high printed since June the 4th. All we need now is for price to close cleanly above the desc utl to confirm continuation.
Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 27 KB
Thank You
  • #230,986
  • Jun 10, 2010 2:22am Jun 10, 2010 2:22am
Quoting wormboy
okay, daily high printed & current price is testing yesterday's high & desc utl. Big tussle here atm. Cable also printed the rising three, a continuation pattern.
No shorts atm, unless price close below 4546 level.
Let's see how this goes. Good luck.
Where's my keg
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,987
  • Jun 10, 2010 2:39am Jun 10, 2010 2:39am
All set to turn back down shortly imo
Attached Image (click to enlarge)
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  • #230,988
  • Jun 10, 2010 2:43am Jun 10, 2010 2:43am
Daily R1 is @ 1.4617
  • #230,989
  • Jun 10, 2010 2:53am Jun 10, 2010 2:53am
Quoting ubaidahsan
bro from where you will enter in Short?

Ub
See the 2 verticle lines, connect them to form the outer TL, should hit around 1.4650. I will look to short around there.
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Click to Enlarge Name: cable.JPG Size: 128 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,990
  • Jun 10, 2010 2:58am Jun 10, 2010 2:58am
Quoting sinner-
I dunno about you but if I had a magic 8 ball which posted the high within some reasonable target ahead of time I would be shorting with both hands

Welcome to the forums guy, bad luck your high was exceeded. Are you gonna reveal your method with some charts now?
Though I don't encourage trying to pick tops n bottoms, when I see the support, I get the itch.

A lot of what I have been working with and showing others is the relationship cable keeps with the 200EMA on all time frames.

Gotta love that line.

I still get caught trying to guess. A reminder of why I shouldn't do it...

Meh, as long as the green is better then the red....

The chart thing, better then a random call. I am sure you have had plenty of ops to work with others. Wondering where, why and how they get these numbers. I just like to see, on the off chance I can pass along a tip or two.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,991
  • Jun 10, 2010 3:04am Jun 10, 2010 3:04am
Quoting sinner-
The signal to buy for me will be more like a hourly closes above 14610 - but it's late enough in the week that I might just leave such shenanigans for Monday/Tuesday next.
Hi wormie...I am still watching for hourly closes above 14610 and we just failed one attempt.
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  • #230,992
  • Jun 10, 2010 3:05am Jun 10, 2010 3:05am
ni thread lama2 kayak tai !!
bull bear, magix... cut it out guys...
i'll do my best, and let the old lady decide where she wanna go
  • #230,993
  • Jun 10, 2010 3:12am Jun 10, 2010 3:12am
Quoting sinner-
Hi wormie...I am still watching for hourly closes above 14610 and we just failed one attempt.
oops. missed that post.
got it, pretty much needs price to close above yesterday's high.

for one big fat bullish candle later. you know ... one of those 5 minutes 100 pipper
Thank You
  • #230,994
  • Jun 10, 2010 3:17am Jun 10, 2010 3:17am
Quoting Magix
Though I don't encourage trying to pick tops n bottoms, when I see the support, I get the itch.

A lot of what I have been working with and showing others is the relationship cable keeps with the 200EMA on all time frames.

Gotta love that line.
Whatever works for you. What I have discovered is that it is in fact, all the same in the end. That is, it's how you use "it", not what "it" is. I can assure you though, that the 200EMA is no more special a line than the 144/196EMA tunnel or the kijun-sen Ichimoku line or Camarilla pivots or a 161.8% fib expansion. In fact after thorough testing it becomes quite apparent that more "recent" information is much more profitable while "stale" information has much less effect on the randomness on chaotic state of the market. Tom DeMark has literature on this, and I believe the SPGM2 system here on FF is actually a reduction of the previous system down to just the 5SMA and some mechanical rules.

Regardless of views on which lines work and which don't, it's sort of expected you extend the courtesy of "whatever works for you" to others. Even if you disagree. "He started it" or "He's doing it too" does not apply.

Quote
I still get caught trying to guess. A reminder of why I shouldn't do it...

Meh, as long as the green is better then the red....

Yeah right, are you saying you're guilty of what you've been ranting about for the last week?

Quote
The chart thing, better then a random call. I am sure you have had plenty of ops to work with others. Wondering where, why and how they get these numbers. I just like to see, on the off chance I can pass along a tip or two.

Agreed. Charts are imperative when discussing a new context, idea or analysis.

How about we all agree that those who bother to post both charts and calls consistently deserve some minimum level of civility.
  • #230,995
  • Jun 10, 2010 3:33am Jun 10, 2010 3:33am
salam..
i still flat..
dont know where cable want to go..
mybe after news 30min to go can see a change.
but i think news will not much impact..if bank rate still the same as before..
Revesal Trader
  • #230,996
  • Jun 10, 2010 3:46am Jun 10, 2010 3:46am
Quoting mygoldenpips
salam..
i still flat..
dont know where cable want to go..
mybe after news 30min to go can see a change.
but i think news will not much impact..if bank rate still the same as before..
In a game of strength and weakness...Can't really say who is gunna win this battle.

I have been taking quick trips, longs only but mostly for a few here n there.

Typically one can gauge where to place the bets by the EG chart. Winners and second place runners.

Looking at the M5 for it...easy to see that nothing has been easy to see...
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,997
  • Jun 10, 2010 4:08am Jun 10, 2010 4:08am
rates still the same, what now guys? looking at 4720...dunno whether we'll see it it today... All the best everybody.
  • #230,998
  • Jun 10, 2010 4:14am Jun 10, 2010 4:14am
Quoting Najee
rates still the same, what now guys? looking at 4720...dunno whether we'll see it it today... All the best everybody.
Keep an eye on the cross roads first before 1.4720...
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #230,999
  • Jun 10, 2010 4:18am Jun 10, 2010 4:18am
Ep 1.4597
sl 1.4582
tp 1.4641
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  • #231,000
  • Jun 10, 2010 4:56am Jun 10, 2010 4:56am
heres my opinion...
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Verily, in every difficulties there is relief
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