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Cable Update (GBPUSD)

  • #241,181
  • Jul 27, 2010 6:26am Jul 27, 2010 6:26am
Quoting digger1
yes and got in with a truck load from tht area kill , missed most of the trip down but all is well , lots of greenie for you I hope
it was a nice ride and the reverse even better we need to break the 60's other wise retrace in play lets see enjoy the green
  • #241,182
  • Jul 27, 2010 6:31am Jul 27, 2010 6:31am
So we have in the vicinity of current Hi

1. a previous daily swing lo/hi zone
2. 200day sma
3. 50% 6876-4229
4. reported option barrier @ 5550
5. top of daily ascending equidistant channel...

and reported offers to 5560

How strong are the bulls ?

By the way, feels like more but stats re pip ranges so far are below

G/L
Attached Image
ex member
  • #241,183
  • Jul 27, 2010 6:32am Jul 27, 2010 6:32am
Quoting Fudomyo

15560 is a nice target. might hold out for R2 unless I chicken out.
Cracking trade and same goes for Ams. Was your entry at some point last week? If so, nice profits!

I chickened out and took profit already, bit early but rather bank than kick myself later on. Waiting now to see what happens between here and 1.5580 and also GJ at around 136 level. I think I see divergence on 30 & 60m on GU and on 30m on GJ but could still be a while before they play out!
  • #241,184
  • Jul 27, 2010 6:36am Jul 27, 2010 6:36am
Quoting bbmac
So we have in the vicinity of current Hi

1. a previous daily swing lo/hi zone
2. 200day sma
3. 50% 6876-4229
4. reported option barrier @ 5550
5. top of daily ascending equidistant channel...

and reported offers to 5560

How strong are the bulls ?

By the way, feels like more but stats re pip ranges so far are below

G/L
it aint gonna break through this zone without a fight
  • #241,185
  • Jul 27, 2010 6:37am Jul 27, 2010 6:37am
Exiting the remaining here for 70+
Quoting peach
Taking profits, 40 pips, on the 3/4 and keeping the rest.. moving stops to break even
  • #241,186
  • Jul 27, 2010 6:38am Jul 27, 2010 6:38am
WB i can only hold them till 60 unless they go for a break or
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  • #241,187
  • Jul 27, 2010 6:38am Jul 27, 2010 6:38am
why do you all think that it willn't go to 1,5650 ?

Could smbd explain me, please?
  • #241,188
  • Jul 27, 2010 6:45am Jul 27, 2010 6:45am
Quoting mouse09
why do you all think that it willn't go to 1,5650 ?

Could smbd explain me, please?

Perosonally I have no idea where it will go, and I'm in good company- no body does. All one can do is to analyse the techniczal factors in front of us...ie essentially we are in a strong up trend to daily t/f and price has reached a potential resistance zone...from there you make a decision, will it bust thru it or will sufficient supply send prices lower temporarilly or longer


G/L
ex member
  • #241,189
  • Jul 27, 2010 6:47am Jul 27, 2010 6:47am
dam it cloggie let the cable go u are holding it
  • #241,190
  • Jul 27, 2010 7:00am Jul 27, 2010 7:00am
Quoting wormboy
fudo

how are you bro? all excellent I hope
hope all is excellent with you too.

a bit crazy atm.

trying to be ambidextrous, cooking dinner for the family while trading.

took my TP at 15550, 10 pips shy of my target, have to go make guacamole. lol

c u later
  • #241,191
  • Jul 27, 2010 7:02am Jul 27, 2010 7:02am
Quoting bbmac
Perosonally I have no idea where it will go, and I'm in good company- no body does. All one can do is to analyse the techniczal factors in front of us...ie essentially we are in a strong up trend to daily t/f and price has reached a potential resistance zone...from there you make a decision, will it bust thru it or will sufficient supply send prices lower temporarilly or longer


G/L
how can you possibly make a decision when you have no idea?
Hear the music before the song is over ...
  • #241,192
  • Jul 27, 2010 7:02am Jul 27, 2010 7:02am
Quoting Jack.e
its name is uncertainty, almost all major pairs are reaching their key support/resistance levels.

Engulfing does not mean uncertainity; doji's do.

I know what the meaning of it is. I was asking about any perticular name for the candle formation.

Thanks anyway.
  • #241,193
  • Jul 27, 2010 7:03am Jul 27, 2010 7:03am
dont like the PA flat now safe than sorry
  • #241,194
  • Jul 27, 2010 7:07am Jul 27, 2010 7:07am
Quoting GlobalMacro
how can you possibly make a decision when you have no idea?

You make your decsion based on whether or not your trading edge sets-up...ie a trading edge is not predictive it is simply a set of circumstances that when happen together produce your trading edge...Personally my own trading edge is based on a confluence of tech factors at pre-identified areas of potential support/resistance/sbr/rbs...Whilst I have identified this a potential area of resistance, my trading edge has (so far) not set-up to give a reason to go short...And if it did, I still would have no idea what will happen next as the trading edge as all trading edges is based on a historical sample ie on x % of occassions it set up in the p[ast under these circumstances it produced a winning trade etc...

G/L
ex member
  • #241,195
  • Jul 27, 2010 7:09am Jul 27, 2010 7:09am
Quoting GlobalMacro
how can you possibly make a decision when you have no idea?
its confusing
  • #241,196
  • Jul 27, 2010 7:12am Jul 27, 2010 7:12am
I have a 5min regular bearish divergence based set-up but against a strong trend that goes to the daily t/f, I need to see more on higher t/f's to consider shorting particularly as price is still within it's average daily and weekly pip range so therefore not terribly extended.

G/L
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ex member
  • #241,197
  • Jul 27, 2010 7:15am Jul 27, 2010 7:15am
Quoting bbmac
You make your decsion based on whether or not your trading edge sets-up...ie a trading edge is not predictive it is simply a set of circumstances that when happen together produce your trading edge...Personally my own trading edge is based on a confluence of tech factors at pre-identified areas of potential support/resistance/sbr/rbs...Whilst I have identified this a potential area of resistance, my trading edge has (so far) not set-up to give a reason to go short...And if it did, I still would have no idea what will happen next as the trading edge...
but if you have "no idea" how can you base your decision on something you don't know? after all your trading edge does not trade on its own!

in fact if one follows your line of thinking logically, you should not be able to determine your trading edge at all because you simply do not know...
Hear the music before the song is over ...
  • #241,198
  • Jul 27, 2010 7:17am Jul 27, 2010 7:17am
Quoting Pickensrulz
Engulfing does not mean uncertainity; doji's do.

I know what the meaning of it is. I was asking about any perticular name for the candle formation.

Thanks anyway.
Look at the last hour of the 5min cable chart engulfing bars one after another means indecision.
  • #241,199
  • Jul 27, 2010 7:20am Jul 27, 2010 7:20am
Quoting reflex
Look at the last hour of the 5min cable chart engulfing bars one after another means indecision.

5 min? The bars mean indecision BECAUSE it's the 5 min.

I could show you two very good examples in cable in the last week that produced major pips but it's not worth my time.
  • #241,200
  • Jul 27, 2010 7:21am Jul 27, 2010 7:21am
Price may not be extended according to adr and awr but on all my tf charts it looks very extended/toppy and desperately in need of a major correction. However she seems to be blissfully ignoring this & goes on her way .. so Flat is a valid position in this case. I agree with whoever said they are not making a move until she reveals her hand. At the moment all we've got are teases.

PS missed the long entry at 5450ish so I can only sit on the sidelines & root for those of you who got aboard in time.

And as I type, there she goes again ..

Quoting bbmac
I have a 5min regular bearish divergence based set-up but against a strong trend that goes to the daily t/f, I need to see more on higher t/f's to consider shorting particularly as price is still within it's average daily and weekly pip range so therefore not terribly extended.

G/L
******************* I'd rather make money than be right.
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