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Cable Update (GBPUSD)

  • #236,461
  • Jul 8, 2010 8:23am Jul 8, 2010 8:23am
usd index >>> down
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  • #236,462
  • Jul 8, 2010 8:28am Jul 8, 2010 8:28am
Quoting cloggie
I am still long all yen pairs and they are starting to pay of handsomely. Shorting the yen was definitely the way to go this afternoon.

Closed all my longs on yen pairs, cable is still proving difficult, even with the SnP and Dow rising. Fibre is a lot more accomodating today and at least adheres to technical normalcy.
  • #236,463
  • Jul 8, 2010 8:30am Jul 8, 2010 8:30am
looks like a flag. good luck
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Thank You
  • #236,464
  • Jul 8, 2010 8:33am Jul 8, 2010 8:33am
Quoting OldReigatian
Short dead on DP 1.5160. TP 1.5085

Waiting for EG to hit .8375 to short
Hit .8375 lets hope down from here
  • #236,465
  • Edited 8:44am Jul 8, 2010 8:33am | Edited 8:44am
Quoting wormboy
looks like a flag. good luck
And we had the first lower low on M30 since the tweezer bottoms, so Cable is at least following the right pattern, tweezer followed by a bull move and now we have completed that pattern with a lower low. If this bar continues we have a tweezer top (close) on M30, would I trade any of this? No, I am sticking to my yen crosses today. On Cable the hourly needs to consolidate and break the Low so the bear flag can play out and the tweezer tops. Does this sound confusing? Sorry if it does, it is summer and she moved 120 pips which is not bad, shorting this is just selling the support, longing this is just anticipating a pattern that does not exist yet and betting on the consolidation of the hourly to break North with little or no technical support yet. Me? I just stick to playing the surer trade by shorting yen on the dips.

Even though it is summer, cable still followed the book, the LO broke down, she moved 50 pips, stopped and starting to consolidate before making her mind up, all the action is just in slow motion because of the lack in volatility. She only moves half as much and it takes twice as long until September.
  • #236,466
  • Jul 8, 2010 8:38am Jul 8, 2010 8:38am
Quoting wormboy
looks like a flag. good luck
Nice spotted bro, Bear flag
  • #236,467
  • Jul 8, 2010 8:39am Jul 8, 2010 8:39am
Went short at 1.5160, now SL is at BE... too soon I know.

EDIT: Stopped out
  • #236,468
  • Jul 8, 2010 8:39am Jul 8, 2010 8:39am
Quoting forexlion
Ok
bumble,stumble,nimble,crumble take your pick
  • #236,469
  • Jul 8, 2010 8:48am Jul 8, 2010 8:48am
Quoting vosterfxandy
do these stats still hold true today?
Where did you get those stats?

I compile my own that is all.
"I made all my money by selling too soon"
  • #236,470
  • Jul 8, 2010 8:51am Jul 8, 2010 8:51am
Quoting fr600
Went short at 1.5160, now SL is at BE... too soon I know.

EDIT: Stopped out

You need to give her a bit of room to play out, a stop at the high of the last bar on M30 would have given her that room. M5 is now set to break to the down side and test the low again. It won't make you rich but keep an eye on 51372 and the low, once 51372 goes, she will test the low again. Caveat: any short here is trading the consolidation on H1 and she will not move far until that is completed. We are getting a bit of pivot play in miniature here.
  • #236,471
  • Jul 8, 2010 8:55am Jul 8, 2010 8:55am
1.5160 (DP) still show as a strong resistance sofar !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #236,472
  • Jul 8, 2010 8:56am Jul 8, 2010 8:56am
Quoting cloggie
And we had the first lower low on M30 since the tweezer bottoms, so Cable is at least following the right pattern, tweezer followed by a bull move and now we have completed that pattern with a lower low. If this bar continues we have a tweezer top (close) on M30, would I trade any of this? No, I am sticking to my yen crosses today. On Cable the hourly needs to consolidate and break the Low so the bear flag can play out and the tweezer tops. Does this sound confusing? Sorry if it does, it is summer and she moved 120 pips which is not bad, shorting...
I got a victory dance & a victory song spashly for bears if the W1 goes.
Thank You
  • #236,473
  • Jul 8, 2010 8:56am Jul 8, 2010 8:56am
With 1 thing holding us back...

NY hasn't seen the top of the pyramid, but I am already ready for the drop from the daily 200.

It was poised at the 1.5300 mark price has lingered so long that instead of price moving to resistance, resistance has come down to meet price.

Watching for the next wave down....

TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRR!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #236,474
  • Jul 8, 2010 8:56am Jul 8, 2010 8:56am
Quoting cloggie
Y but keep an eye on 51372 and the low, once 51372 goes, she will test the low again.

Here you go testing.
  • #236,475
  • Jul 8, 2010 8:58am Jul 8, 2010 8:58am
Quoting Magix
With 1 thing holding us back...

NY hasn't seen the top of the pyramid, but I am already ready for the drop from the daily 200.

It was poised at the 1.5300 mark price has lingered so long that instead of price moving to resistance, resistance has come down to meet price.

Watching for the next wave down....

TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRR!

I use slightly different Ma's as my guide, but I am looking at the same thing on the daily. I just want my fast MA to catch up to show the price where to go, that may take the rest of the week.
  • #236,476
  • Jul 8, 2010 9:02am Jul 8, 2010 9:02am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Magix,

Is this 200 ema on closed?

I still see @ 5300 on alpari and fxpro..who is your broker?

ta
ams


Quoting Magix
With 1 thing holding us back...

NY hasn't seen the top of the pyramid, but I am already ready for the drop from the daily 200.

It was poised at the 1.5300 mark price has lingered so long that instead of price moving to resistance, resistance has come down to meet price.

Watching for the next wave down....

TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRR!
  • #236,477
  • Jul 8, 2010 9:02am Jul 8, 2010 9:02am
Quoting Magix
With 1 thing holding us back...

NY hasn't seen the top of the pyramid, but I am already ready for the drop from the daily 200.

It was poised at the 1.5300 mark price has lingered so long that instead of price moving to resistance, resistance has come down to meet price.

Watching for the next wave down....

TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRR!

wow that is a sexy looking chart
  • #236,478
  • Jul 8, 2010 9:06am Jul 8, 2010 9:06am
Quoting USD-Bear
Another sound

Long @ 1.5160
SL @ 1.5130
Stopped @ 1.5130
Don't be a hero. Don't have an ego. Always question yourself
  • #236,479
  • Jul 8, 2010 9:14am Jul 8, 2010 9:14am
Quoting wormboy
looks like a flag. good luck
yup. broken now. let's take out the low plez
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Thank You
  • #236,480
  • Jul 8, 2010 9:14am Jul 8, 2010 9:14am
Quoting clientfx
looking for my zigzag point up i will short to try support 5125 first

tp hitted..
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