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Cable Update (GBPUSD)

  • #234,941
  • Jul 1, 2010 4:35am Jul 1, 2010 4:35am
Quoting cloggie
Well, she broke the channel and she is unsure, as expected really not every day one breaks a channel. I am still biased short on this pair, and am riding the M5 waves, never did take a LO trade on cable, focused on fibre instead. Next intermediate target for me is 4865, a pretty high probability setup based on the lTL of the channel forming support and she needs to have a go now to make a move inside the channel to determine whether this is a full blown retracement or a parallel channel forming in a bullish direction. I am holding back on an opinion...
Good Morning cloggie,

at which point do you see new channel forming.
Is it only the break of 4865 (or your second target 4841) ,
or do we have to see some more LH and LL after the break,
before we can speak of a new channel?
  • #234,942
  • Jul 1, 2010 4:36am Jul 1, 2010 4:36am
Quoting Bull_Bear
Morning folks, taking long off the table, possible retrace back to 1.4900 area.

Sell 1.5053.. SL 1.5120.. TP 1.4900

Catch you guys at the London session
.

TP hit

Good things comes to those who wait and have the discipline to stick to their plan
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,943
  • Jul 1, 2010 4:37am Jul 1, 2010 4:37am
Quoting Bull_Bear
.

TP hit

Good things comes to those who wait and have the discipline to stick to their plan
nice one, good work BB
  • #234,944
  • Jul 1, 2010 4:38am Jul 1, 2010 4:38am
Quoting Bull_Bear
.

TP hit

Good things comes to those who wait and have the discipline to stick to their plan
Congrats on this hit
  • #234,945
  • Jul 1, 2010 4:40am Jul 1, 2010 4:40am
As you can see I have already bought at 1.4889..... 1.5300 all the way now... opps as long as kicks back inside channel and todays low hold.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 129 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,946
  • Jul 1, 2010 4:41am Jul 1, 2010 4:41am
Quoting FXFundi
out of short at 1.4900 - Good one B_B and nice profit to bring me back to BE for the month. Will look for a buy signal round the 1.4850 mark. The 4 hour 618 A2 Fib; P = F and half cent.
Nice work my friend, BE is 100% better than losing
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,947
  • Jul 1, 2010 4:44am Jul 1, 2010 4:44am
Quoting dag777
Good Morning cloggie,

at which point do you see new channel forming.
Is it only the break of 4865 (or your second target 4841) ,
or do we have to see some more LH and LL after the break,
before we can speak of a new channel?

As you can tell by my chart I posted I was referring to the H4 channel, that will take a couple of days to form a new one and in my opinion any bias towards either side is purely conjecture right now. I just wait to see what materialises and trade accordingly. That last channel gave us over 4 weeks of tradeable setups, so I rather just wait a few days till the next one materialises looking for another 3-4 weeks of setups.

Anyone here that predicts where this is going to from here just wants to be part of the d!ck swinging contest. Who really cares where it goes or what gets formed from here on as long as one recognises once the formation is complete and confirmed, until then play both sides of the fence. I'll bet you though we will get at least 10 here predicting where the channel is going to form, 5 will end up right and 5 will end up wrong, both by the luck of the draw, the ones that are wrong will remain silent and the ones that were lucky and picked the right horse will go on about it for pages on end.

There is only one fact, we have broken the upchannel on H4, yes we have a bear flag forming but that still does not guarantee a trend reversal we could just as easily form another bullish channel after a significant bearish retrace.

So that's my 2 pennies, trade at your own discretion. Right now just take the shorts of the lTL as long as that is holding, the higher probability setup right now.

All this of course changes if she pulls back in the channel, but that makes for a bit of a mess.

Apologies if my post is slightly ambiguous but that's where we are.
  • #234,948
  • Jul 1, 2010 4:47am Jul 1, 2010 4:47am
BB u long ?
  • #234,949
  • Jul 1, 2010 4:50am Jul 1, 2010 4:50am
Quoting Faryad
BB u long ?
Thats right buddy...

How you tracking?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,950
  • Jul 1, 2010 4:52am Jul 1, 2010 4:52am
Quoting Bull_Bear
Thats right buddy...

How you tracking?
JUst eye on ur quote
  • #234,951
  • Jul 1, 2010 4:53am Jul 1, 2010 4:53am
Quoting cloggie
As you can tell by my chart I posted I was referring to the H4 channel, that will take a couple of days to form a new one and in my opinion any bias towards either side is purely conjecture right now. I just wait to see what materialises and trade accordingly. That last channel gave us over 4 weeks of tradeable setups, so I rather just wait a few days till the next one materialises looking for another 3-4 weeks of setups.

Anyone here that predicts where this is going to from here just wants to be part of the d!ck swinging contest. Who really...

many thankīs for sharing your view,
for me itīs not ambiguous,
it describes explicitly the possible two scenarios,
ty again
  • #234,952
  • Jul 1, 2010 5:04am Jul 1, 2010 5:04am
Quoting dag777
many thankīs for sharing your view,
for me itīs not ambiguous,
it describes explicitly the possible two scenarios,
ty again

Right now with EG sitting at R1, EU sitting at R1, we have reached a bit of indecision. One will have to give for GU to give us a clearer direction. Would a long here with a probability back into the channel be the right trade or would a short here down to 4865 be the right one, I just wait and see till either gets confirmed and join the crowd. Am not really a trendsetter, just a simple minded trader following the rest of them.
  • #234,953
  • Jul 1, 2010 5:08am Jul 1, 2010 5:08am
Quoting cloggie
Right now with EG sitting at R1, EU sitting at R1, we have reached a bit of indecision. One will have to give for GU to give us a clearer direction. Would a long here with a probability back into the channel be the right trade or would a short here down to 4865 be the right one, I just wait and see till either gets confirmed and join the crowd. Am not really a trendsetter, just a simple minded trader following the rest of them.

Look at that, EG of the R1, EU of the R1 and GU back in the channel. Back in familiar territory, we have been trading this for a month. Let's make sure we get a significant close inside the channel though.
  • #234,954
  • Jul 1, 2010 5:12am Jul 1, 2010 5:12am
Quoting Faryad
JUst eye on ur quote
Faryad watch 1.5000 level when she gets there mate... thats the cross roads for continued direction or reversal.

Good luck, gotta jet for a little while.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #234,955
  • Jul 1, 2010 5:13am Jul 1, 2010 5:13am
y gu back in my channel .

http://screencast.com/t/YzNhN2U5ZDgt
  • #234,956
  • Edited 5:18am Jul 1, 2010 5:14am | Edited 5:18am
Quoting cloggie
Look at that, EG of the R1, EU of the R1 and GU back in the channel. Back in familiar territory, we have been trading this for a month. Let's make sure we get a significant close inside the channel though.
what tf are you looking at for the confirmation.
thanks
  • #234,957
  • Jul 1, 2010 5:15am Jul 1, 2010 5:15am
Quoting amberfm
Hi all,,,

It seems that we are at the end of wave A ( H1 ) time frame
i thought the rule is wave 4 can't go inside wave 1..,
I will be the number one Manager.
  • #234,958
  • Jul 1, 2010 5:16am Jul 1, 2010 5:16am
Quoting USD-Bear
Pull back did not stop at UTL so short @ 1.4930

D1:
Attachment
Pfff, stopped at BE
Don't be a hero. Don't have an ego. Always question yourself
  • #234,959
  • Jul 1, 2010 5:17am Jul 1, 2010 5:17am
Quoting dxvas
what tf do you looking at for the confirmation.
thanks

It's an H4 channel so let's see an H4 close inside of it.
  • #234,960
  • Jul 1, 2010 5:18am Jul 1, 2010 5:18am
Quoting swingtrader
thankyou for the indi,but i cant see those box on my chart
will dont install the indi in 2 charts on the same system only one chart and it have to be a new chart try and let me know
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