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Cable Update (GBPUSD)

  • #234,201
  • Jun 28, 2010 4:28am Jun 28, 2010 4:28am
Quoting mcmartins
Dragon fly on 4h, that means something me. though its my opinion.
i think we will be painting the ceiling soon.
Does this mean we're going up?I get a little confused, i'm from Wales. However the repapering of my ceiling is coming along nicely with cloggies posts(i've run out of wall)
All systems of divination, like music itself,work through patterns.
  • #234,202
  • Jun 28, 2010 4:29am Jun 28, 2010 4:29am
This must be a first, 99% of us are looking at exactly the same thing. Wonderful, that's how every day should be in here. There is a lot of power when the retailers come together and form a consensus. Yes I and others can be harsh sometimes with our critisism, but it is wonderful once a plan comes together.

Keep playing the range, until we have a confirmed break. On days like this oversold/overbought has little meaning. Yes the momentum of direction may change, however the direction itself won't.
  • #234,203
  • Jun 28, 2010 4:33am Jun 28, 2010 4:33am
Quoting cloggie
Test of #1

Tested and failed, good point for a short scalp, SL above 5061, trail your TP, eyes on 5038 and 5030
  • #234,204
  • Jun 28, 2010 4:37am Jun 28, 2010 4:37am
Quoting trade price
if the candle close like this go for short with small risk.
Mr. Trade Price with all due respect.

I am trading GU.
USDX is only the barometer for going long or short on the GU.
If USDX breaks that level I will considering to long GU.
GU image is here.
Attached Image (click to enlarge)
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  • #234,205
  • Jun 28, 2010 4:39am Jun 28, 2010 4:39am
No positions for me atm.
Waiting for retrace, 1.494 would suit me to go long

H1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #234,206
  • Jun 28, 2010 4:39am Jun 28, 2010 4:39am
Quoting newbie_fx
Mr. Trade Price with all due respect.

I am trading GU.
USDX is only the barometer for going long or short on the GU.
If USDX breaks that level I will considering to long GU.
GU image is here.

That is true if cable strength is based on dollar weakness, what makes you think that Cable can't move due to Sterling strength?
  • #234,207
  • Jun 28, 2010 4:41am Jun 28, 2010 4:41am
Quoting trade price
nice quick short from resistant
Yup, same here. Low risk, keep playing the SR's. We still have no significant wedge formed on the 15 so there will be loads more like these. For the MA traders, put up a fast ma on your 15 and look at the plays around them.
  • #234,208
  • Jun 28, 2010 4:43am Jun 28, 2010 4:43am
Quoting cloggie
Tested and failed, good point for a short scalp, SL above 5061, trail your TP, eyes on 5038 and 5030

Check one, SL moved.
  • #234,209
  • Jun 28, 2010 4:44am Jun 28, 2010 4:44am
Quoting cloggie
Tested and failed, good point for a short scalp, SL above 5061, trail your TP, eyes on 5038 and 5030
I am still waitting at 200 MA for 5min chart if 3rd bounce to long again.
GELORE
  • #234,210
  • Jun 28, 2010 4:44am Jun 28, 2010 4:44am
Quoting cloggie
Tested and failed, good point for a short scalp, SL above 5061, trail your TP, eyes on 5038 and 5030
How do u get these accurate figures?
  • #234,211
  • Jun 28, 2010 4:49am Jun 28, 2010 4:49am
Quoting intrepid1
How do u get these accurate figures?

Supports on the 5 and 15, look where she stopped and slowed the last time and keep an eye on those for the interaction confirming your continuation or reversal. They need a bit of judgment when scalping as they are not as clear cut as the supports on the higher TF's so a test and rejection does not automatically mean a reversal just look at the PA on M5 and whether it had lower lows and lower highs prior to the rejection or whether it was slowing down with for example a higher high, then it is time to get out. I just let my stops do the work. if it gets close to support and I am not sure of the PA or the probability of the rejection I just trail the stop and take whatever the market gives me. That's rule 1 of scalping: never let a green trade go against you. Right now 5038 failed but 5035 formed before she could get to my second target of 5030 so I closed the trade for a tidy little profit.
  • #234,212
  • Jun 28, 2010 4:51am Jun 28, 2010 4:51am
Quoting cloggie
Yup, same here. Low risk, keep playing the SR's. We still have no significant wedge formed on the 15 so there will be loads more like these. For the MA traders, put up a fast ma on your 15 and look at the plays around them.
Hi Cloggie what ma would you suggest ? Would it be a sma or ema

thanks
  • #234,213
  • Jun 28, 2010 4:56am Jun 28, 2010 4:56am
Quoting cloggie
Supports on the 5 and 15, look where she stopped and slowed the last time and keep an eye on those for the interaction confirming your continuation or reversal. They need a bit of judgment when scalping as they are not as clear cut as the supports on the higher TF's so a test and rejection does not automatically mean a reversal just look at the PA on M5 and whether it had lower lows and lower highs prior to the rejection or whether it was slowing down with for example a higher high, then it is time to get out. I just let my stops do the work. if...

Im not sure yet this will happen.
Attached Image
GELORE
  • #234,214
  • Jun 28, 2010 4:57am Jun 28, 2010 4:57am
Quoting cloggie
That is true if cable strength is based on dollar weakness, what makes you think that Cable can't move due to Sterling strength?
Mr Cloggie with all due respect to you too.

I keep an eye on USDX for any desperate moves. Because it always throws all currencies into a tumble. We some times find huge moves which most of the time are initiated by USDX.
So keeping myself on the safe side. As if that level breaks on USDX it will surely impact all other currencies. I am aware of GBPLFX but I dont have access to with my broker.
In the end the name suggests and see I am 27 and starting out but let me tell you, you are teaching me a lot every day.
no worries. Thank you.
  • #234,215
  • Jun 28, 2010 4:58am Jun 28, 2010 4:58am
hi all

boring waiting for the games no break no trade enjoy the boring monday
  • #234,216
  • Jun 28, 2010 4:58am Jun 28, 2010 4:58am
Daily A1 - 618 = 1.5028
Daily A2 - 382 = 1.5078
Half Cent = 1.5050

So she's currently sitting slap bang in the middle of the resistance zone. We need a clear break below 1.500 or above 1.510 to give direction.

Looks like this resistance might hold so I'm looking for shorts.
May the forex be with you |
  • #234,217
  • Jun 28, 2010 5:14am Jun 28, 2010 5:14am
Quoting kill56
hi all

boring waiting for the games no break no trade enjoy the boring monday
Yup.. Super boring day today.
So did u manage to download what u want from me?
Smile Chankl78
  • #234,218
  • Jun 28, 2010 5:15am Jun 28, 2010 5:15am
Quoting Bull_Bear
Weekends post..

http://www.forexfactory.com/showpost...stcount=234080

Todays update...

Alright boys and girls, don't be haste wait for the break to enter long, as for me a retrace is on the cards...
So who waited and who jumped the gun?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,219
  • Jun 28, 2010 5:16am Jun 28, 2010 5:16am
This range is a minefield!
Just when I'm deep red, she shoots to make me green.

I think I'll take cloggie's advice and stay out... wait for the big guys to take a side.
  • #234,220
  • Jun 28, 2010 5:23am Jun 28, 2010 5:23am
What can one do now...
I lost more than enough this couple of days.
one thing i know for sure is she going to pay for it.
The ranging thing is not the best for now.
I will have to stay out now.
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