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Cable Update (GBPUSD)

  • #237,681
  • Jul 13, 2010 10:15am Jul 13, 2010 10:15am
Quoting TerpFan2
Noooo no no brother- Those are Simply "PipperinO's"!
(I guess the way MB does the decimal it looks otherwise!)
-I also hide the cash dollar amt. early on so as too keep
cool either way on 'screen. -Keeping the Desire to Trade Well,
More than the Ducket$.

-Just some penuckle pip'$ in 'DollA's for me brother Voodoo, :-) !
Nothing substantial, -But the pips are!

**Your 24 & 200's are working nicely bro' & KEPT me IN,
a Profitable Trade!!! **

Best of Scalping as 'Pro-
I'm off to make the Donut's,

Jeff !

The size of the pip is relatively unimportant, as that can always be increased.

What is of great value is consistency.

IF you lose a little everyday, the loss is still a loss...

If you continue to gain everyday, it's just a matter of building confidence with your account and increase the size of the load you carry.

It's all good.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,682
  • Jul 13, 2010 10:17am Jul 13, 2010 10:17am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I would be very careful now of any longs....apart from dollar ofcourse :-)

Only a break below 83500 would convince me otherwise.


Reason...
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  • #237,683
  • Jul 13, 2010 10:23am Jul 13, 2010 10:23am
Quoting nAVIN2007
somebody asked me where my TP was and i told them..I not in the market chasing pips, I dont trade because i need too..I do it because i enjoy it..the money makes no difference to me..i dont depend on it.
also who said anything about my post being aimed at u..I dont post for u , do u believe I give a rats a** what u think..
I dont trade small time frames cause for me it pointless, in 2 weeks time im going back to work and scalping simply cannot help me..this works and i make money steadly while at work
like i said b4 time will tell
I'm the one who asked that question to nAVIN AND don't know why all that .......reply all about!!
Magix Not kind of post i used to see from you!!
nAVIN was kindly tell his view what the problem about that ,Magix if u afraid about newbie to trade what he says this will be first lesson to newbie to learn to trade his own chart and swim his own race!!
Again i will post this valuable link
Inserted Video
  • #237,684
  • Edited 10:42am Jul 13, 2010 10:24am | Edited 10:42am
Quoting ams
I would be very careful now of any longs....apart from dollar ofcourse :-)

Reason...

The London broke nicely this morning, the consolidation could not reverse this midday and I am now closing all my intra day positions, purely because we have reached the end of business for London and as it is the summer, the volatility will drop markedly after 1630. Price wise I do expect another area of consolidation right about here. Now it all depends on whether the big boys have had their fill for today to dictate what direction this consolidation will take, a continuance would be easier to accomplish then a reversal, but we never know what NY has up their sleeve. If NY was suckered into that last play they would give us a nice covering retrace right about here.

Footnote: If somebody wanted to read up on autoregression and modelling of continuations in price patterns, look up Robert Engle, a Nobel price winner who has done a lot of work on price patterns and volatility. Alternatively Richard Lyons has done a lot of work on micro economic modelling based on order flows within FX.
  • #237,685
  • Jul 13, 2010 10:25am Jul 13, 2010 10:25am
Quoting TerpFan2
Thanks Navin,

You are callin' em like a pro in here buddy!

-I was trying to post my 4hr - in conjunction,
w/your "Daily" chart but had to focus in on my,
"Profit Taking" & NOT get distracted.

I've been doing alot of Growth work this year,
and i have to get up w/YOU GUY's to really profit accordingly.
-Unless a real pro you can't just "Jump In" willie nilly @10am,
N.Y. time and think you'll work the charts. -The bigger game
is nearing it's conclusion Most of the time.

Off to work Navin,
Have a Great One, great hearing...
have a great day bud..im just sticking to my plan my friend its all u can do..its all we can do.. always great to see the same folks in here means we progressing and that is something!!

keep pip'in the pips bro
  • #237,686
  • Jul 13, 2010 10:29am Jul 13, 2010 10:29am
Quoting nAVIN2007
have a great day bud..im just sticking to my plan my friend its all u can do..its all we can do.. always great to see the same folks in here means we progressing and that is something!!

keep pip'in the pips bro
Hi bro
Me 2
  • #237,687
  • Jul 13, 2010 10:33am Jul 13, 2010 10:33am
Quoting ams
I would be very careful now of any longs....apart from dollar ofcourse :-)

Only a break below 83500 would convince me otherwise.


Reason...
Looks like pretty solid support for the USD....Maybe the next leg up will be under way.. I am still long term USD strength....
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,688
  • Edited 10:51am Jul 13, 2010 10:35am | Edited 10:51am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Don't expect anything to happen soon, today itself. Just surprised by looking at UJ tbh. Not looking right. Pound is bullish nevertheless. Dollar can only drag to some level unless ofcourse EU starts to rise which 'll delay the rise.

ta
ams



Quoting cloggie
The London broke nicely this morning, the consolidation could not reverse this midday and I am now closing all my intra day positions, purely because we have reached the end of business for London and as it is the summer, the volatility will drop markedly after 1630. Price wise I do expect another area of consolidation right about here. Now it all depends on whether the big boys have had their fill for today to dictate what direction this consolidation will take, a continuance would be easier to accomplish then a reversal, but we never know what...
  • #237,689
  • Jul 13, 2010 10:37am Jul 13, 2010 10:37am
Quoting egkid
Hi bro
Me 2
im glad..
  • #237,690
  • Jul 13, 2010 10:37am Jul 13, 2010 10:37am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
me too matey I am not selling the dollar unless I see this breaks clearly on daily, perhaps weekly.


Quoting damonl
Looks like pretty solid support for the USD....Maybe the next leg up will be under way.. I am still long term USD strength....
  • #237,691
  • Jul 13, 2010 10:47am Jul 13, 2010 10:47am
it seems that a lot of people still are short despite this rally...if that were to be the case then indeed we have a long way to go upwards as evident by the smooth & steady pops we'e witnessing....
Hear the music before the song is over ...
  • #237,692
  • Jul 13, 2010 10:48am Jul 13, 2010 10:48am
Quoting nAVIN2007
im glad..
Do u know what i remember now
When the E/U was@ 1.48 and we was target 1.38
Sometime not agree with of ur view and tell my self hey nAVIN why but i remember that everyone trade his view but maybe that feeling because i start to post on this thread and enjoy g/u because of u
  • #237,693
  • Jul 13, 2010 10:50am Jul 13, 2010 10:50am
Quoting egkid
Do u know what i remember now
When the E/U was@ 1.48 and we was target 1.38
Sometime not agree with of ur view and tell my self hey nAVIN why but i remember that everyone trade his view but maybe that feeling because i start to post on this thread and enjoy g/u because of u
1.60 is almost certain according to me chart analysis..
  • #237,694
  • Jul 13, 2010 10:51am Jul 13, 2010 10:51am
Quoting GlobalMacro
it seems that a lot of people still are short despite this rally...if that were to be the case then we have a long way to go upwards as evident by the smooth & steady pops we'e witnessing....
It seems no matter how hard some of us try using just about every argument in the book to dissuade traders from anticipating a reversal, there will always be lots who think that as price has moved up it must be time for it to reverse and use any and all obstacle in the way of a continuation as validation of that thought process, totally ignoring the continued bullish momentum of the day.
  • #237,695
  • Edited 11:07am Jul 13, 2010 10:55am | Edited 11:07am
Quoting ams
I would be very careful now of any longs....apart from dollar ofcourse :-)

Only a break below 83500 would convince me otherwise.


Reason...

charts to show down
dollar is going to be in big trouble comin months..it just retraced..they printing money like crazy..now most likely pay the debt (im bullshiting here..i have no idea..LOL) BUT IM SHORT ON DOLLAR

DAILLY ON USDX HAS A BEARISH OUTSIDE BAR..expect more downside tomorrow

euro is up..which is the inverse..cable insink..swissy 2 month pin bearish ..many confluence signals..this feed is demo obviously
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  • #237,696
  • Jul 13, 2010 11:00am Jul 13, 2010 11:00am
http://a.imagehost.org/0321/gbp.gif
  • #237,697
  • Jul 13, 2010 11:00am Jul 13, 2010 11:00am
Quoting nAVIN2007
1.60 is almost certain according to me chart analysis..
We have same view , I have chart with my TP AND SL
but i trade small position waiting daily signal to confirmation my view to raise my risk. that for e/u and g/u, I will let u know about that if u interested.
  • #237,698
  • Jul 13, 2010 11:03am Jul 13, 2010 11:03am
Quoting honeybhi
Entered short at 1.5140 .

Apologies in advance for singling you out, but I am going to use your entry as an example here. You drew lines on your chart that had none or little significance to the price and its pattern for the day because you wanted to find a reason to short. I replied to your post originally saying why don't you wait for a confirmed retrace before attempting to predict one and preempt the move by entering at a TL that just happened to fit your thought process.

Today was a classic Cable move, London gave us a nice open after a Franky Fake out and halfway through the day gave us a consolidation that clearly broke to the topside.

Anticipating a reversal purely because a trader wanted to see one has put your trade 50 pips in the hole, giving up hard earned profits.

You can use several different strategies to find your point of reversal, from basic TL's to price patterns and fast MA's, none of which has given a confirmed retrace yet, even the midday consolidation area respected all of the above failing to close below any trend indicator instrument you could have put up on a chart.
  • #237,699
  • Jul 13, 2010 11:12am Jul 13, 2010 11:12am
Quoting cloggie
Apologies in advance for singling you out, but I am going to use your entry as an example here. You drew lines on your chart that had none or little significance to the price and its pattern for the day because you wanted to find a reason to short. I replied to your post originally saying why don't you wait for a confirmed retrace before attempting to predict one and preempt the move by entering at a TL that just happened to fit your thought process.

Today was a classic Cable move, London gave us a nice open after a Franky Fake out and halfway...
Hey cloggie.. if your tracking s&r levels on your 1H azzchart, do you then move down to a lower TF to see whether price will reverse or continue? If so, which TF?
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,700
  • Jul 13, 2010 11:12am Jul 13, 2010 11:12am
Quoting cloggie
Apologies in advance for singling you out, but I am going to use your entry as an example here. You drew lines on your chart that had none or little significance to the price and its pattern for the day because you wanted to find a reason to short. I replied to your post originally saying why don't you wait for a confirmed retrace before attempting to predict one and preempt the move by entering at a TL that just happened to fit your thought process.

Today was a classic Cable move, London gave us a nice open after a Franky Fake out and halfway...
No offense mate.We are here to share our views.I stopped out my trade for -30 pips .just short cause I saw daily r2 and a res at that area.How ever i played only a small profit from my long trade.so i have nothing to loose today overall closed positive today.Will look for reversal signs in future.
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