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Cable Update (GBPUSD)

  • #241,421
  • Jul 28, 2010 4:11am Jul 28, 2010 4:11am
Scalping between the 100 and 76.4 Fibbo lines is paying dividends right now! abd 30 pips either way.
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  • #241,422
  • Jul 28, 2010 4:12am Jul 28, 2010 4:12am
Quoting cloggie
Yeah for the first time, some of the points I got from King were:

 

  1. He was not certain that the recovery was sustainable
  2. Further QE may be warranted
  3. GDP was encouraging but don't read too much into one number (ah, the next one going to be crap then?)
  4. Inflation to remain above target (which is actually good for sterling)

So again, he was up and down, as usual and the PA is reflecting that. Merve the Swerve in action.

Right now we are at the bottom on M5/15 so that play is done.

Thanks, it means Gbp will reverse down .
Give me patience
  • #241,423
  • Jul 28, 2010 4:17am Jul 28, 2010 4:17am
Quoting Bullfx
Thanks, it means Gbp will reverse down .

On reflection, that is how I see it, but you never know how the market sees this, so am still not going to enter a longer term trend, just scalping the short bounces of the channel for now till the market has some time to digest this. It does not bode well for the bulls though.
  • #241,424
  • Jul 28, 2010 4:21am Jul 28, 2010 4:21am
now there is a a trading opportuunity,..a great pinbar with bullish divergence..5min below...

G/L

http://i30.tinypic.com/53k9ch.gif
ex member
  • #241,425
  • Jul 28, 2010 4:29am Jul 28, 2010 4:29am
Quoting cloggie
... but you never know how the market sees this,...
exactly, market can be ridiculous sometimes.
Looks like your wet cat came back to electric fence
Chart looks very same as yesterday. Free ride now - or +10 or +80 (tp 1.5650).
Half already unloaded +20
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  • #241,426
  • Jul 28, 2010 4:30am Jul 28, 2010 4:30am
i don't trade news , I do as my OWN chart say
All my position still in Play Since 3 weeks
  • #241,427
  • Jul 28, 2010 4:31am Jul 28, 2010 4:31am
Quoting bbmac
now there is a a trading opportuunity,..a great pinbar with bullish divergence..5min below...

G/L

http://i30.tinypic.com/53k9ch.gif
Agreed...All my MA on all time frames are up. Idicators are all also screaming to long... I dun have a good gut feel on a long but will go with the indicators
  • #241,428
  • Jul 28, 2010 4:41am Jul 28, 2010 4:41am
Scalping short @ 5597, the R it cannot seem to break...
Don't be emo... don't be emo....
  • #241,429
  • Jul 28, 2010 4:44am Jul 28, 2010 4:44am
still scalping between the 10 and 76.4 Fib lines till the direction becomes clear!
  • #241,430
  • Jul 28, 2010 4:45am Jul 28, 2010 4:45am
Quoting drakes
Scalping short @ 5597, the R it cannot seem to break...

I am still doing the same thing too till she breaks one way or the other. Just playing the M5 channel for now that keeps getting rejected.
  • #241,431
  • Jul 28, 2010 4:51am Jul 28, 2010 4:51am
Although i haven't made any pip on gbp usd..........i think scalping is the best move here cos the market is following a sideways trend..........forexclues
  • #241,432
  • Jul 28, 2010 4:53am Jul 28, 2010 4:53am
Quoting cloggie
I am still doing the same thing too till she breaks one way or the other. Just playing the M5 channel for now that keeps getting rejected.
Price keeps rejecting the T/P i set...
Don't be emo... don't be emo....
  • #241,433
  • Jul 28, 2010 4:56am Jul 28, 2010 4:56am
Quoting drakes
Price keeps rejecting the T/P i set...

Scalping means taking what you can and don't let a winner turn into a loser, hit and run like Killy says. I don't even set a TP, enter with a fixed SL, wait for green, set a TS and on to the next one.
  • #241,434
  • Jul 28, 2010 4:57am Jul 28, 2010 4:57am
Quoting Bitstream
still scalping between the 10 and 76.4 Fib lines till the direction becomes clear!
bitstream, can u kindly show me the fiblines u are talking about.......thanks in advance......forexclues
  • #241,435
  • Jul 28, 2010 4:58am Jul 28, 2010 4:58am
Quoting cloggie
Scalping means taking what you can and don't let a winner turn into a loser, hit and run like Killy says. I don't even set a TP, enter with a fixed SL, wait for green, set a TS and on to the next one.
Gotcha....
Don't be emo... don't be emo....
  • #241,436
  • Jul 28, 2010 4:58am Jul 28, 2010 4:58am
Quoting Bitstream
Agreed...All my MA on all time frames are up. Idicators are all also screaming to long... I dun have a good gut feel on a long but will go with the indicators
mh :/ following indicators is like using a GPS in a very small town I think..
  • #241,437
  • Jul 28, 2010 5:04am Jul 28, 2010 5:04am
With reference to Mr King's 'update' this morning......

I wonder if this is the new 'fly-by-wire' accelerator which Mr King is referring too. If so maybe he ought too check the warranty.............Applying the brakes whilst also pressing on the accelerator never has been a good way of getting anywhere!
  • #241,438
  • Jul 28, 2010 5:07am Jul 28, 2010 5:07am
Cable unsure of where to go...
Don't be emo... don't be emo....
  • #241,439
  • Jul 28, 2010 5:07am Jul 28, 2010 5:07am
Quoting Martingale
mh :/ following indicators is like using a GPS in a very small town I think..
haha! Well indicators are just a objective point of reference and certainly not the be all end all in trade direction determination... I treat more like a compass then a GPS map.
  • #241,440
  • Jul 28, 2010 5:08am Jul 28, 2010 5:08am
Quoting drakes
Cable unsure of where to go...

No but the short scalps are just about finished now.
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