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Cable Update (GBPUSD)

  • #242,441
  • Aug 2, 2010 2:21pm Aug 2, 2010 2:21pm
Quoting digger1
lol, well here you go cloggie ha ha bash away , I have to see where tommorrows pivot is at to see if worth holding but have taken a small posistion short at 1.5890 reasons on the chart lol. Not calling a top by any means but could be a little retrace , will not hesitate to cut them if they go under by much , seems like we have a few channels or trend lines to test but doesent mean it will happen , May be looking to hard for a reason to sell but the sell side of platform tab has dust on it , just had to clean it off lol Attachment

Not as long as this is holding. Put some superglue on that sell button. Go dig another hole, anything to keep you from preemting a reversal.....

I agree, Cable likes the 50, it likes it a lot. But Cable can remain overbought for an awfully long time.
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  • #242,442
  • Aug 2, 2010 2:29pm Aug 2, 2010 2:29pm
Quoting cloggie
Not as long as this is holding. Put some superglue on that sell button. Go dig another hole, anything to keep you from preemting a reversal.....

I agree, Cable likes the 50, it likes it a lot. But Cable can remain overbought for an awfully long time.
lol, well this trade could end up looking like this but will see lol
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  • #242,443
  • Aug 2, 2010 2:35pm Aug 2, 2010 2:35pm
Quoting digger1
lol, well this trade could end up looking like this but will see lol Attachment

That is hilarious. I am going to wait, we only need 7 bars to fill the gap here, got an alert set for the bottom of the range so if something does happen before the day is over I will check back in here, if not I will see you guys in the morning. Gave up looking at this hours ago when I saw that spinner on the 30.
  • #242,444
  • Aug 2, 2010 2:38pm Aug 2, 2010 2:38pm
Quoting cloggie
That is hilarious. I am going to wait, we only need 7 bars to fill the gap here, got an alert set for the bottom of the range so if something does happen before the day is over I will check back in here, if not I will see you guys in the morning. Gave up looking at this hours ago when I saw that spinner on the 30.
Have a great evening cheers
  • #242,445
  • Aug 2, 2010 2:58pm Aug 2, 2010 2:58pm
thanks cloggie, i understand that, today pound was in a clear uptrend, and once pound touched the trendline at 1.5580 it started dropping, yet very few went short, was this just profit-taking or first test of the trendline today? y didnt anybody go short then, what im really asking is how did you know it was not the start of a 100-200 pip pullback, and how do u know when to go short? or is this just a simple case of follow the trend and buy on dips until the trend changes
  • #242,446
  • Aug 2, 2010 3:10pm Aug 2, 2010 3:10pm
gotta love it when a plan come together!!!..1.60 probably reached by tomorrow

magix aint that something huh bro!!..the some b*tch actually looks like it gonna get there
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  • #242,447
  • Aug 2, 2010 3:35pm Aug 2, 2010 3:35pm
I'm going short, I'm going short... I just drew a line above the last 4HR bar at full thickkness.. no way price can bash through that thick of a line.. lol

Sorry, just a little fun. I took 1% this AM from Sterling before leaving the house on a long trade upper resistence line break up to 1.5800, and TP there when it was struggling to get through and I had to leave...

Though had nice long signals on EurJpy and GbpJpy today which are still open as well as small pips on EurChf, AudChf longs and a UsdChf short.

EurJpy currently up 95 pips and Gbpjpy up 140 pips. Man I love trading off the higher TF charts much better than the lower ones

Now to decide what to do with these open trades.. hmmmmm

I sure hope you guys were buying dips today again... at least that is what I would have been doing had I been able to be around. Rental property to fix up and too cheap to pay someone to do it, so I do it myself.. gets me out of the house anyway, which is a good thing

Once again, I will only be looking to take sterling long only again today. Happy pippin friends, and I miss hanging out with you all. Hopefully when things get completeded I can get back at it

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"Keep your eyes on the helpers" - Mr. Rogers
  • #242,448
  • Aug 2, 2010 3:44pm Aug 2, 2010 3:44pm
Quoting monkey@forex
thanks cloggie, i understand that, today pound was in a clear uptrend, and once pound touched the trendline at 1.5580 it started dropping, yet very few went short, was this just profit-taking or first test of the trendline today? y didnt anybody go short then, what im really asking is how did you know it was not the start of a 100-200 pip pullback, and how do u know when to go short? or is this just a simple case of follow the trend and buy on dips until the trend changes
And that my friend is the million dollar question. I had a good feeling that shorting this 4 hours ago was not the right trade setup. Plenty of others have done so. If trading was as easy as your question would elude there would be a lot more people succesful at this and make a living at it then currently do.
  • #242,449
  • Aug 2, 2010 3:48pm Aug 2, 2010 3:48pm
boys and girls this is easy money, if your short then your broke, good luck to all
  • #242,450
  • Aug 2, 2010 3:53pm Aug 2, 2010 3:53pm
hi all

no top yet 15930's 16060 16110 then we might see the 163 who knows buying dips is the way to go
  • #242,451
  • Aug 2, 2010 3:56pm Aug 2, 2010 3:56pm
Quoting kill56
hi all

no top yet 15930's 16060 16110 then we might see the 163 who knows buying dips is the way to go
, there will still be some who think they can pick the top or bottom , lets see where this take us, Good luck to all
  • #242,452
  • Aug 2, 2010 3:58pm Aug 2, 2010 3:58pm
lol, ok, in that case for now i will stick to trade with the trend then, today pound dropped 50pips and hit a trendline and bounced, however if it had dropped 100 pips and wasnt near a trendline, would you have bought thinking it was a dip or would you wait to see the response when it hits a trendline?
  • #242,453
  • Aug 2, 2010 4:00pm Aug 2, 2010 4:00pm
Here's the chart, good luck to all
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  • #242,454
  • Aug 2, 2010 4:02pm Aug 2, 2010 4:02pm
Quoting monkey@forex
lol, ok, in that case for now i will stick to trade with the trend then, today pound dropped 50pips and hit a trendline and bounced, however if it had dropped 100 pips and wasnt near a trendline, would you have bought thinking it was a dip or would you wait to see the response when it hits a trendline?
trade your system
  • #242,455
  • Aug 2, 2010 4:05pm Aug 2, 2010 4:05pm
Quoting monkey@forex
lol, ok, in that case for now i will stick to trade with the trend then, today pound dropped 50pips and hit a trendline and bounced, however if it had dropped 100 pips and wasnt near a trendline, would you have bought thinking it was a dip or would you wait to see the response when it hits a trendline?

Not quite sure what chart you are looking at but Cable only dropped 25 pips during the TY session and that was it since then it has moved 211 pips up, it takes a bit more then just a trendline to trade Cable, but good luck in your trading.
  • #242,456
  • Aug 2, 2010 4:15pm Aug 2, 2010 4:15pm
Quoting cloggie
Not as long as this is holding. Put some superglue on that sell button. Go dig another hole, anything to keep you from preemting a reversal.....

I agree, Cable likes the 50, it likes it a lot. But Cable can remain overbought for an awfully long time.
Hi Cloggie! Thanks for posting all these charts today. Makes your box trading strat easier to understand.
  • #242,457
  • Aug 2, 2010 4:16pm Aug 2, 2010 4:16pm
Quoting fxoxford
, there will still be some who think they can pick the top or bottom , lets see where this take us, Good luck to all

as cloggie says dont like smelly fingers best of luck enjoy the green
  • #242,458
  • Aug 2, 2010 4:17pm Aug 2, 2010 4:17pm
Quoting nAVIN2007
gotta love it when a plan come together!!!..1.60 probably reached by tomorrow

magix aint that something huh bro!!..the some b*tch actually looks like it gonna get there
Nice chart that got me looking to the weekly. I copied the latest triangle and added 1 UTL ... not sure if it is a worry or not but we have been stuck there for 6 hours. Thanks in advance
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  • #242,459
  • Edited 4:30pm Aug 2, 2010 4:18pm | Edited 4:30pm
Quoting AnonYmos
Hi Cloggie! Thanks for posting all these charts today. Makes your box trading strat easier to understand.

It was actually 4X that turned it into a strategy, I use it as a way of explaining PA trading. Seeing price as a series of stepped climbs makes it a bit more visual. Once you see PA as a series of small boxes you will eventually see the PA as one big box, one big move that you can see easier just by seeing the price and the candles and patterns it forms and how it interacts with levels, SR's, TL's, fibs, MA's etc. Putting up boxes makes you look at the SR's properly and seeing how price enters, breaks and leaves a box shows you how the PA interacts. It also shows you how a trend is established and maintained and it forces you to look at dips as opportunities and not as retraces.

It brings a bit of Old School trading into an Indy saturated and dominated thread. And it silences the smelly finger brigade a bit..... Not many dared to stick their head above the parapet in light of overwhelming trend continuation posts.
  • #242,460
  • Aug 2, 2010 4:39pm Aug 2, 2010 4:39pm
Quoting kill56
as cloggie says dont like smelly fingers best of luck enjoy the green
, i hope your enjoying the green as well and not relying on anybody trades, , good luck my friend
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