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Cable Update (GBPUSD)

  • #238,361
  • Jul 15, 2010 8:05am Jul 15, 2010 8:05am
last call at the bar!
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Thank You
  • #238,362
  • Jul 15, 2010 8:07am Jul 15, 2010 8:07am
Quoting Magix
There is nice play from where we will peak today, back to where NY seen its highs...Once we topple, I can play the range top to bottom and wait for NY to fill its books back.
So you are saying that you expect price to retrace to the NY high yesterday? Brown line on chart below. London is green, NY is blue. I'm really trying to understand how you interpret these moves within the various trade zones as I think it is very powerful.
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******************* I'd rather make money than be right.
  • #238,363
  • Jul 15, 2010 8:07am Jul 15, 2010 8:07am
Quoting wormboy
last call at the bar!
well wormie cant say we didnt try lol
  • #238,364
  • Jul 15, 2010 8:08am Jul 15, 2010 8:08am
Quoting damonl
Would that make you happy if the dollar failed?
not really i wont say happy..i think it is very sad outcome but..as a trader i dont think..i just react to chart information..and go with the masses. I suspect every1 else does this..

I used to post chart in weekend forecasting..but then i realised that this was actually leading to have bias..now i dont think where price is going..I let the chart tell me..
  • #238,365
  • Jul 15, 2010 8:12am Jul 15, 2010 8:12am
usa data 3 minutes
Capacity Utilization Rate
http://cdn.forexfactory.com/images/m...dar_detail.gif http://cdn.forexfactory.com/images/m...ol_refresh.gif 74.2%74.1%http://cdn.forexfactory.com/images/m...us_revised.gif
  • #238,366
  • Jul 15, 2010 8:14am Jul 15, 2010 8:14am
Quoting digger1
well wormie cant say we didnt try lol
lol, dig, this is that one week where it seems all the W1 res levels failed to give any respectable counter. bloody thing looks like me having a hard on when I was 20 years old
Thank You
  • #238,367
  • Jul 15, 2010 8:15am Jul 15, 2010 8:15am
Quoting wormboy
lol, dig, this is that one week where it seems all the W1 res levels failed to give any respectable counter. bloody thing looks like me having a hard on when I was 20 years old
  • #238,368
  • Jul 15, 2010 8:15am Jul 15, 2010 8:15am
Quoting nAVIN2007
not really i wont say happy..i think it is very sad outcome but..as a trader i dont think..i just react to chart information..and go with the masses. I suspect every1 else does this..

I used to post chart in weekend forecasting..but then i realised that this was actually leading to have bias..now i dont think where price is going..I let the chart tell me..
I have noticed since I have been posting charts this last few days I have becomed biased as well.. funny that you mentioned that. I was thinking maybe I was doing myself some good, but really not sure it is.. lol

Anyway, you have a nice trade going.. you should be very happy with your efforst
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,369
  • Jul 15, 2010 8:18am Jul 15, 2010 8:18am
Quoting damonl
I have noticed since I have been posting charts this last few days I have becomed biased as well.. funny that you mentioned that. I was thinking maybe I was doing myself some good, but really not sure it is.. lol

Anyway, you have a nice trade going.. you should be very happy with your efforst

not really..i have no emotion..i really dont!
emotion in trading is dangerous..its just a trade i got direction right..played the probability now its all about exiting when this indicates this is isnt happening
  • #238,370
  • Jul 15, 2010 8:19am Jul 15, 2010 8:19am
Quoting 4xStar
So you are saying that you expect price to retrace to the NY high yesterday? Brown line on chart below. London is green, NY is blue. I'm really trying to understand how you interpret these moves within the various trade zones as I think it is very powerful.
The chart and sessions always fill back.

So, yes. There is a large space on the chart that NY hasn't had a chance to buy or sell into yet...NY was with London to close the top of the chart yesterday, so the space from NY high to NY open today is an area that we will see again.

We will see a nice range created by where the peak of today is and where the top of the chart from yesterday. Safety trade zones.

These can take days to fill, so, keep with the same trade style, never assume an all out reversal and once we begin the retrace, you will know where to target for a safe exit, and the area to watch for a reload.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #238,371
  • Edited 8:35am Jul 15, 2010 8:24am | Edited 8:35am
Quoting Magix
The chart and sessions always fill back.

So, yes....
i will just say one thing..we have broken out of a trendline 07/08 - today..anything below it is history till the line breaks because it cant hold as suppport so in this instant..its not logically to assume that will happen especially with bullish dailly weekly scenero..

unless tomorrow we are bearish and theres a pin to go back in..i dunno if that is what u meant..but that guessing 100%

oops my mistake this weekly needs to close like this first
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  • #238,372
  • Jul 15, 2010 8:26am Jul 15, 2010 8:26am
Quoting digger1
well wormie cant say we didnt try lol
H5 might hold dam it east from here was a nice ride between them
  • #238,373
  • Jul 15, 2010 8:28am Jul 15, 2010 8:28am
Quoting 4xStar
Strength, strength and more strength ... if you missed most of the move, as I did due to my broker's platform not working .. only thing left is to scalp the 1 min chart .. actually a very safe thing to do if you have patience .. just wait for price to drop below the 50, if it touches the 200 buy more with a stop tightly below. MA's are 50, 200 and 1000 (which is 200 on the 5 min)
Thanks again .4x
All systems of divination, like music itself,work through patterns.
  • #238,374
  • Jul 15, 2010 8:29am Jul 15, 2010 8:29am
Quoting kill56
H5 might hold dam it east from here was a nice ride between them
what the hell you mean east?? resistance held, screw east! let's go south brother!!
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Thank You
  • #238,375
  • Jul 15, 2010 8:34am Jul 15, 2010 8:34am
Quoting wormboy
what the hell you mean east?? resistance held, screw east! let's go south brother!!

It does seem like it held..
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,376
  • Jul 15, 2010 8:35am Jul 15, 2010 8:35am
i'm in., sell.
see daily & weekly chart.

see u latter.
I will be the number one Manager.
  • #238,377
  • Jul 15, 2010 8:37am Jul 15, 2010 8:37am
Quoting javapips
i'm in., sell.
see daily & weekly chart.

see u latter.
another hancock huh

hope u doing well
  • #238,378
  • Jul 15, 2010 8:39am Jul 15, 2010 8:39am
Don't try to predict the reversal, you can never know what 1,000's of other traders out there are thinking, they set this trend and untill all of them change their minds it will continue, all we can do is find places where to be careful and that is where the longer TF SR's come in.


These are the words off Cloggie, i think we are in that stage now
  • #238,379
  • Jul 15, 2010 8:41am Jul 15, 2010 8:41am
Quoting wormboy
what the hell you mean east?? resistance held, screw east! let's go south brother!!
You never walk alone
  • #238,380
  • Jul 15, 2010 8:45am Jul 15, 2010 8:45am
Quoting wormboy
what the hell you mean east?? resistance held, screw east! let's go south brother!!
bro east = darn south
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