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Cable Update (GBPUSD)

  • #240,581
  • Jul 23, 2010 6:45am Jul 23, 2010 6:45am
Two main levels I am watching here are 5471 monthly resistance and 5315 the resistance level for the monthly inside bar setup. This monthly bar close will be very important if we close above 5315 as it confirms a break of the monthly inside bar setup. That coupled with the positive Prelim GDP figures makes it likely we will target 5830 and 1.60 medium term providing we can break through 5471.

Today

Upper profile distribution from the 16th July has stalled price this morning. Point of control from the 16th is at 5424 which gave us a small bounce earlier....price bounced of 5436 to be exact and is again trying to make new day highs ...Few things to note..looks like we are forming a upper distribution in the same area as the profile distribution from the 16/07. Therefore expect us to range around here for a while. I would expect us to test 5471 again given how close we are and there is a small group of single prints just below that level from the 15th.

Today’s Prelim GDP volatility has left a 70 pip trail of single prints between our current position and the lower distribution formed through Asia and early this morning. If you are shorting up here them bottom of them prints would be a good TP. 5321 zone.

Stocky
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  • #240,582
  • Jul 23, 2010 6:45am Jul 23, 2010 6:45am
Quoting damonl
That is too bad... I'm up 225 pips so far with S/L moved to BE now. I guess I am playing the H4 and Daily chart for this one, so I expect some retrace.. It is a faily large chunk of greenbacks not closed yet though....

edit.. Oh Man.. check on the Morning star on the daily
Good trade man
  • #240,583
  • Jul 23, 2010 6:54am Jul 23, 2010 6:54am
Quoting OldReigatian
Pepper, don't let Clog get to you. Humour him and bow to his greater knowledge and standing at the top the cable thread
Hi there Reigatian,it's just his arrogance that irritates me.I don't ignore him,i take what he has to say and use it now and again.I use him as confirmation like i use many other peoples analysis.
  • #240,584
  • Jul 23, 2010 6:54am Jul 23, 2010 6:54am
maybe coming back to clsoe the g@p
  • #240,585
  • Jul 23, 2010 6:56am Jul 23, 2010 6:56am
Quoting pepper
Hi there Reigatian,it's just his arrogance that irritates me.I don't ignore him,i take what he has to say and use it now and again.I use him as confirmation like i use many other peoples analysis.

Funny, I don't find him arrogant at all. He kind of reminds me of "Red" from "That 70's show", going around calling everyone who made a bone head move a "DumbAss"
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,586
  • Jul 23, 2010 6:57am Jul 23, 2010 6:57am
Well, like I said, 1st day trading in long time (holidays) so I went short at 1.5400 and again at 1.5431 so will now be targeting 1.5338...

This is on demo and actually a seperate demo from the one i usually trade so it doesn't impact my "results"...

Good luck boys, and don't get too personal there pepper, Cloggs is a really good trader, I can promise you that much. He used to nail me too but we have become mates over time... just keep going, we will get there eventually!
@pawpaw1000 on Twitter
  • #240,587
  • Jul 23, 2010 6:57am Jul 23, 2010 6:57am
Closed the trade in profit...

92257243 | 2010.07.23 05:02 | buy | 2.00 | gbpusdm | 1.52905 | 1.52000 | 1.53200 | 2010.07.23 08:02 | 1.53200 | 59.00
My TP @ 1.53200 was hit and the pair was traded until above 1.54000 as of writing..

Quoting HowieTrader
Hello fellow traders...

I got Long @ 1.52905 just now..
TP @ 1.53200 (Will close the trade manually if necessary)
SL @ 1.51905

The pair has breached the 1H TF downtrend-line, so I assume that it is a good time for Bulls..
  • #240,588
  • Jul 23, 2010 6:59am Jul 23, 2010 6:59am
Quoting damonl
Funny, I don't find him arrogant at all. He kind of reminds me of "Red" from "That 70's show", going around calling everyone who made a bone head move a "DumbAss"
I'm happy for you.
  • #240,589
  • Jul 23, 2010 7:02am Jul 23, 2010 7:02am
Quoting damonl
Funny, I don't find him arrogant at all. He kind of reminds me of "Red" from "That 70's show", going around calling everyone who made a bone head move a "DumbAss"
I don't think he means to sound arrogant .. he just gets frustrated because newbies can so easily loose money because they can't distinguish between those who know what they're talking about .. and those who don't.

He's just trying to be protective. And he's Dutch .. they can get rather gruff & testy ... it comes from walking around in those wooden shoes all day ...
******************* I'd rather make money than be right.
  • #240,590
  • Jul 23, 2010 7:03am Jul 23, 2010 7:03am
Quoting pawpaw1000
Well, like I said, 1st day trading in long time (holidays) so I went short at 1.5400 and again at 1.5431 so will now be targeting 1.5338...

This is on demo and actually a seperate demo from the one i usually trade so it doesn't impact my "results"...

Good luck boys, and don't get too personal there pepper, Cloggs is a really good trader, I can promise you that much. He used to nail me too but we have become mates over time... just keep going, we will get there eventually!
Howzit pawpaw long time no see,rugby keeping you busy?
It's not me i'm hassled about.I don't care if he nails me,i take it from whence it comes.I'll just mock him.
  • #240,591
  • Jul 23, 2010 7:03am Jul 23, 2010 7:03am
Quoting digger1
twiddleing your thumbs waiting for 1.5200 to get hit or wht ,
Son, I already got in the bull flag i was pointing at for 2 days
  • #240,592
  • Jul 23, 2010 7:07am Jul 23, 2010 7:07am
Quoting 4xStar
I don't think he means to sound arrogant .. he just gets frustrated because newbies can so easily loose money because they can't distinguish between those who know what they're talking about .. and those who don't.

He's just trying to be protective. And he's Dutch .. they can get rather gruff & testy ... it comes from walking around in those wooden shoes all day ...
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,593
  • Jul 23, 2010 7:09am Jul 23, 2010 7:09am
Quoting pepper
Howzit pawpaw long time no see,rugby keeping you busy?
It's not me i'm hassled about.I don't care if he nails me,i take it from whence it comes.I'll just mock him.
had a 5 week holiday which has just been extended to 6 weeks, headed back next thursday, been touring around South Africa!
@pawpaw1000 on Twitter
  • #240,594
  • Jul 23, 2010 7:11am Jul 23, 2010 7:11am
Quoting 4xStar
I don't think he means to sound arrogant .. he just gets frustrated because newbies can so easily loose money because they can't distinguish between those who know what they're talking about .. and those who don't.

He's just trying to be protective. And he's Dutch .. they can get rather gruff & testy ... it comes from walking around in those wooden shoes all day ...
Let's just hope he is not Dutch Irish. *Imagining him in wooden clogs, a kilt and playing the bagpipes calling people DumbAsses...*
"Keep your eyes on the helpers" - Mr. Rogers
  • #240,595
  • Jul 23, 2010 7:13am Jul 23, 2010 7:13am
Quoting forexlion
Son, I already got in the bull flag i was pointing at for 2 days
Not your son , you been flapping your trap every which way for 2 days now like normal. So whts your point
  • #240,596
  • Jul 23, 2010 7:18am Jul 23, 2010 7:18am
Quoting forexlion
Son, I already got in the bull flag i was pointing at for 2 days

So why are you shouting?
  • #240,597
  • Jul 23, 2010 7:33am Jul 23, 2010 7:33am
Quoting cloggie
DT did have a bit of a banter when he was here, but it is obvious now who and what he was. He got banned last time because he wasn't exactly forthcoming with his results, bit too much of the pencil variety. He changed his username and tried the last year to build up a following among the gullible noobs so he can sell them a 300 dollar a month signal service.

Goes back to the old saying, those who can, trade. Those who can't, teach
Just found this post while surfing old post
Big LOL , That was expecting many good traders said so Hidden Agenda DT
Soon or later truth always come

Quoting Jigsaw
He was banned because of his clearly falsified results, he said at one point he traded two whole lots, which with his results would have made him a millionaire. He had no losers EVER but when he traded live he consistently lost money.
He said he "knew" where price was going, claiming only to ever use a black line when he clearly used other things and talked about them during his webinars.
Of course tape reading could be profitable, maybe you would like to start a thread outlining some of your thoughts on it ?
Best Regards,
Jig
  • #240,598
  • Jul 23, 2010 7:40am Jul 23, 2010 7:40am
Quoting digger1
Not your son , you been flapping your trap every which way for 2 days now like normal. So whts your point
read my signature son
  • #240,599
  • Jul 23, 2010 7:43am Jul 23, 2010 7:43am
Quoting digger1
Not your son , you been flapping your trap every which way for 2 days now like normal. So whts your point
i think you got genetically modified

damn the aliens i am gonna screw them now
  • #240,600
  • Jul 23, 2010 7:43am Jul 23, 2010 7:43am
Quoting damonl
Let's just hope he is not Dutch Irish. *Imagining him in wooden clogs, a kilt and playing the bagpipes calling people DumbAsses...*
You mean Dutch Scottish
******************* I'd rather make money than be right.
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