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Cable Update (GBPUSD)

  • #242,741
  • Aug 3, 2010 9:14am Aug 3, 2010 9:14am
Quoting drakes
Waiting to see if it breaks out of the range... am considering shorting...

It broke on the 1315 GMT bar on M5/15, and was confirmed when the retest failed. Even the hourly is testing a break now.
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  • #242,742
  • Aug 3, 2010 9:15am Aug 3, 2010 9:15am
1.5920 now resistance???
  • #242,743
  • Aug 3, 2010 9:15am Aug 3, 2010 9:15am
ooooh.... Why did you go long? Looks like bears are winning the tug of war.... lost patience?? Bad US news/??
Quoting GlobalMacro
alright...stopping & reversing @ 1.5930...
  • #242,744
  • Aug 3, 2010 9:17am Aug 3, 2010 9:17am
I think that it is a head-and-shoulder pattern... Should be selling here...
Open short triggered (just learned that using trigger will help my discipline on taking any trade) @ 1.59052

Let come what may??...

Quoting cloggie
Wee update. I do keep giving the CT-ers cr@p all the time, but the case for the bulls is getting weaker and weaker by the minute, see earlier posts too. Maybe some of the more stubborn bulls can now start to see the forest through the trees. I did give a headsup 2 hours ago.... Trade at your own risk as always, just keep the stops tight on the longs, don't give money back to the market that can serve you better in your own account.
  • #242,745
  • Aug 3, 2010 9:17am Aug 3, 2010 9:17am
Quoting cloggie
Not just that all the previous ones were revised down, we are getting a drip feed of cr@p numbers and revisions lately, and people still think that the socialistic Keynesian policies of Obamarama are working?

Let me see, let's spend a couple of trillion, just print the money, let's not address the income side, no need to reduce the expenses and let's ignore the private sector.
I wish I could sell a bumper sticker scaper for all the saps that voted this guy in
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  • #242,746
  • Aug 3, 2010 9:19am Aug 3, 2010 9:19am
Quoting LetsTrade
1.5920 now resistance???
And also needs to break through yesterday's high of 1.5907
  • #242,747
  • Aug 3, 2010 9:19am Aug 3, 2010 9:19am
Even the H4 is attemting a test.
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  • #242,748
  • Aug 3, 2010 9:21am Aug 3, 2010 9:21am
Quoting cloggie
It broke on the 1315 GMT bar on M5/15, and was confirmed when the retest failed. Even the hourly is testing a break now.
Ahhh... ok... was worried about the 200ma though on M5...
Don't be emo... don't be emo....
  • #242,749
  • Aug 3, 2010 9:22am Aug 3, 2010 9:22am
Quoting drakes
Ahhh... ok... was worried about the 200ma though...

Never use it, so don't know how that plays. I am looking at this on the hourly, we just got below yesterday's high and are back in the consolidation range that had the fakeout on TY. Let's see if the bears have the guts to give us a proper break or are we just having a covering rally. I am keeping a close eye too on GC as that is at significant levels right now. I traded the break of the lTL on the 15 earlier, but am now watching eagerly to see if we can finally have a proper direction for some decent money. ADR is only 106 pips so far, which isn't bad for summer, but we could do with a bit more.
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  • #242,750
  • Aug 3, 2010 9:22am Aug 3, 2010 9:22am
Quoting peach
ooooh.... Why did you go long? Looks like bears are winning the tug of war.... lost patience?? Bad US news/??
very bad home sales preceded by abrupt sentiment swing to the bear side...
Hear the music before the song is over ...
  • #242,751
  • Aug 3, 2010 9:25am Aug 3, 2010 9:25am
Quoting GlobalMacro
alright...stopping & reversing @ 1.5930...
eh? how come bro? you lost me here
Thank You
  • #242,752
  • Aug 3, 2010 9:29am Aug 3, 2010 9:29am
Quoting AdrianHNV
Forex glossary
Fx Terms You Wouldn't Want to Live Without (When Trading):



Zzzzzzzz............. when Bee's Sleep http://thoa.forumsland.com/images/smiles/icon_razz.gif http://thoa.forumsland.com/images/smiles/icon_razz.gif

really dude
  • #242,753
  • Aug 3, 2010 9:30am Aug 3, 2010 9:30am
Quoting AdrianHNV
Forex glossary
Fx Terms You Wouldn't Want to Live Without (When Trading):

Ask Price

The ask price (right quote display) is the price at which traders can buy the base currency. If you think that the EUR value will increase then you can choose to buy it for USD at the price displayed in the ask quote.

See also Bid Price

Aussie

Dealer slang for the AUD/USD currency pair.

See also Currency Pair

Base Currency

The base currency is the first currency listed...

And? Point?
  • #242,754
  • Aug 3, 2010 9:32am Aug 3, 2010 9:32am
Quoting wormboy
eh? how come bro? you lost me here
with home sales & factory orders horrendous...I am not willing to hold long dollars in such a macro environment... also sterling got "bear-enthused" all of a sudden...so expecting higher highs from here on bro....
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Hear the music before the song is over ...
  • #242,755
  • Aug 3, 2010 9:36am Aug 3, 2010 9:36am
Quoting dryclean
I wish I could sell a bumper sticker scaper for all the saps that voted this guy in
It puzzles me when people say this kind of stuff.
Do you really believe anyone else would be doing anything differently? McCain? Really? And God forbid that fuckwit from Alaska?

Obama is doing exactly as he's told, same as every modern president before him. To think otherwise is naive.
  • #242,756
  • Aug 3, 2010 9:39am Aug 3, 2010 9:39am
[/ATTACH]
Quoting 4xStar
I came in late to the party today, just in time to see a test of a newly drawn LTL so I entered long, got stopped out at +5 which I consider a huge victory since in the bad old days (last week) probably would have hung on longer and taken a loss.

For those asking how to draw the boxes .. all they are is a visual to train you eyes to see price action .. consolidation>breakout>consolidation. Draw them however you like as long as they help you identify these areas of price movement. When I started trading this morning I saw a very brief consolidation...
well cloggs , this is a quick river box I built and was watching with my usual stuff , dont know if I played quite the same as you would have but hey got some nice trades off of it cheers
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  • #242,757
  • Aug 3, 2010 9:39am Aug 3, 2010 9:39am
Quoting ukdaytrader
It puzzles me when people say this kind of stuff.
Do you really believe anyone else would be doing anything differently? McCain? Really? And God forbid that fuckwit from Alaska?

Obama is doing exactly as he's told, same as every modern president before him. To think otherwise is naive.

well said uk.......theyre just puppets, a front. They make no decisions on their own....
  • #242,758
  • Aug 3, 2010 9:39am Aug 3, 2010 9:39am
Quoting GlobalMacro
with home sales & factory orders horrendous...I am not willing to hold long dollars in such a macro environment... also sterling got "bear-enthused" all of a sudden...so expecting higher highs from here on bro....
okay thanks gm.

you know me, I'm fundamentally stupid.
but you're one of the few here i really hate to be on opposite sides, damn!

good luck bro!
Thank You
  • #242,759
  • Aug 3, 2010 9:42am Aug 3, 2010 9:42am
Quoting digger1
[/ATTACH] well cloggs , this is a quick river box I built and was watching with my usual stuff , dont know if I played quite the same as you would have but hey got some nice trades off of it cheers Attachment

Yeah, that's it. Works well for the opens and when she is consolidating. It just makes you focus on the price and the interaction with SR's
  • #242,760
  • Aug 3, 2010 9:42am Aug 3, 2010 9:42am
Quoting digger1
lol, you just watching malc volume may be the best for you , it just tells me there is volume , my point of control, like everyday was rollover price lol, seems japan and china were in selling moods , break of the 8 hour range and retest area were shorting entrys , couple of nice little short trades , now out till frankie and london still have a small sht posistion from late new york yesterday , todays pivot a tgt to start Attachment

point of control is set by volume ...

check out yesterday poc and how price reacts to it. ... this is where the max buying and selling occurs

seems to work for me been hammering everything this week , options , futures and fx both up and down

after playing 1.5880 to 1.5950 , selling 5950 into 5880 I just got my next long for 5950 right off po

like taking candy from a baby today ...some weeks are like this and some weeks feel like tearing my hair out and giving up trading lol

es for es .. failed 1120 to support 1112.5 then bounce to 1117 , where it seems to be stalling

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