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Cable Update (GBPUSD)

  • #242,841
  • Aug 3, 2010 2:16pm Aug 3, 2010 2:16pm
Quoting jimmyloz
overbouht market ?
thing is and as we have seen last few days ... if there is a lot of overhead resistance BUT professional money that is on control of the market at the time ( bull or bear) is long term bullish they will absorb supply and then push prices up so fast thru that supply that markets can stay overbought for a long time.

I think i mentioned this as did someone else that uses a trend following system ., if you really want to sell this other than for a counter trend trade then wait for something like a hulls moving average or rsx , or macd or whatever it is that you use to roll over on a 4 hour chart then start thinking about selling

hulls is still green on a 4hr so I know that any sells I do are counter trend trades and carry higher risk for now
Blogging daily now at www.volume.zone
  • #242,842
  • Aug 3, 2010 2:28pm Aug 3, 2010 2:28pm
Quoting jimmyloz
overbouht market ?

It's like you have the Asian Session in mind
  • #242,843
  • Aug 3, 2010 2:32pm Aug 3, 2010 2:32pm
Yeah, if it gets pass one of the previous shoulders at 15960 it should confirm a uptrend continuation and start popping once it gets pass the high.
  • #242,844
  • Edited 2:50pm Aug 3, 2010 2:34pm | Edited 2:50pm
Updated M30 from a few hours ago. That inside TL is still holding beautifully. That TL was in play yesterday too on the 200 pip run, it shows how you never get rid of your TL's until the price gives up on it and another one gets formed.

The naked M30 also clearly shows how the dips get bought faster then the bears can bring it back down to the TL. Every time they try it jumps of it like a wet cat of an electric fence.

Yes we are overbought on H4 but who really cares, the bull trend is still fully intact, and there is loads of room left on the daily and especially the weekly having passed 5831, the next biggy is 6457 on the weekly.

Today has been a good day for candle play with lots of easily identifiable patterns both on tops and bottoms. Levels to watch on longs are 5955, 5963 and the high, levels to watch on the down side is the TL, and 5922 nothing else out there really.

The second chart is the triangle to play right now with the top at the first level 5955.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: today's play 25.gif Size: 22 KB
Click to Enlarge Name: today's play 26.gif Size: 20 KB
  • #242,845
  • Aug 3, 2010 2:51pm Aug 3, 2010 2:51pm
Quoting mfoste1
you gotta understand that he isnt pulling the strings, i dont know where people get this idea that he actually makes any decisions, hes told what to do and when to do it. Its been this way for years and years and years...........hes just a front.

check up on your history----look at presidents who opposed these dark figures that pull the strings.

alex hamilton----well known opposer of fed...shot,...
you said it !!
  • #242,846
  • Aug 3, 2010 3:15pm Aug 3, 2010 3:15pm
Short started GPB 5620 will be a good
Trend is your enemy, moneymanagement - your friend
  • #242,847
  • Aug 3, 2010 3:29pm Aug 3, 2010 3:29pm
Quoting mdiz2
I know exactly who he is. He is a progressive like Woodrow Wilson and Roosevelt. He was raised by comunists and his whole life has been geared to where he is right now. He surronds himself with like minded socialists, comunists and marxists. He is more than a figurehead, he is their leader. Sorros and the unions have a lot of control of him also.
Congratulations for the most idiotic statement i've ever read on here.
Keep em coming..
  • #242,848
  • Aug 3, 2010 3:33pm Aug 3, 2010 3:33pm
Quoting bigrisk
Short started GPB 5620 will be a good
What the heck does this post mean? A chart would be nice. TP? SL? Maybe even a short/concise written explanation. These types of posts are useless.
Si vis pacem, para bellum.
  • #242,849
  • Aug 3, 2010 3:34pm Aug 3, 2010 3:34pm
If you don't mind please...Can you support it with chart or anything that will call this firm call or just shooting blanks...




Quoting bigrisk
Short started GPB 5620 will be a good
We cannot direct the winds but we can adjust our sail.
  • #242,850
  • Aug 3, 2010 3:36pm Aug 3, 2010 3:36pm
Quoting ukdaytrader
Congratulations for the most idiotic statement i've ever read on here.
Keep em coming..

  • #242,851
  • Aug 3, 2010 3:36pm Aug 3, 2010 3:36pm
Quoting ukdaytrader
Congratulations for the most idiotic statement i've ever read on here.
Keep em coming..
I know eh, can you believe he called Obama a leader! Ridiculous!

...........
  • #242,852
  • Aug 3, 2010 3:37pm Aug 3, 2010 3:37pm
Quoting bigrisk
Short started GPB 5620 will be a good

No point shorting this until this has played out, not much covering at the close here. I am done for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: today's play 27.gif Size: 29 KB
  • #242,853
  • Aug 3, 2010 3:43pm Aug 3, 2010 3:43pm
Quoting ukdaytrader
Congratulations for the most idiotic statement i've ever read on here.
Keep em coming..
This is not the place to talk politics and I respect everyones right to their own opinion.
  • #242,854
  • Aug 3, 2010 3:45pm Aug 3, 2010 3:45pm
Quoting bigrisk
Short started GPB 5620 will be a good

why you would think that would be a good trade, I will never know.....and like the other dudes said, dont just punt a trade out there without some sort of analysis backing your losing trade that has been in the red for 300 pips now....since you said, well it looks like you said I started shorting @ 5620, i dunno

look at a 4h chart or daily....
  • #242,855
  • Aug 3, 2010 3:52pm Aug 3, 2010 3:52pm
Quoting trabagwe
not so good
does that mean that fx may be prohibited in the us?
Icy trader = cold hearted trades. no emotion whatsoever. Below zero.
  • #242,856
  • Aug 3, 2010 4:03pm Aug 3, 2010 4:03pm
Quoting bigrisk
Short started GPB 5620 will be a good
Translation, I shorted, 5620 is a good target.

English is obviously not the first language of this chap.
  • #242,857
  • Aug 3, 2010 4:04pm Aug 3, 2010 4:04pm
Quoting ukdaytrader
Congratulations for the most idiotic statement i've ever read on here.
Keep em coming..
Your post 34 hrs ago when the GU was 150 pips lower (1.5805)

Dr. D.

ukdaytrader http://cdn.forexfactory.com/images/icons/icon1.gif GU is screaming short, but I suspect we'll see a...

Posted 34 hr ago
GU is screaming short, but I suspect we'll see a pop up once NY get to their desks. As many here often say, charts don't lie and GU will have a significant retrace soon enough. PS. I've been adding small GU shorts since last week.
Forum: Interactive Trading Thread: Auslanco - GBP/JPY and GBP/USD (newstrade)
  • #242,858
  • Edited 4:22pm Aug 3, 2010 4:05pm | Edited 4:22pm
Quoting cloggie
No point shorting this until this has played out, not much covering at the close here. I am done for the day.

Pattern finished and TL tested. Lovely play on a spinner on the hourly. Am signing off see you guys in the morning.

EDIT: Can't resist today, nice spinner on the 30 now today has been one of those days that make Old School traders loads of money, just keep trading the same darn thing.

Not going to get tempted in this, NY closed no volatility left for a few hours. I am done now, see you at the FO.
Attached Image (click to enlarge)
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  • #242,859
  • Aug 3, 2010 4:05pm Aug 3, 2010 4:05pm
Total Vehicle Sales is good in US, is that mean dollar will have power again to kick GBP???
I will be the number one Manager.
  • #242,860
  • Aug 3, 2010 4:47pm Aug 3, 2010 4:47pm
Quoting fourxtrader
Your post 34 hrs ago when the GU was 150 pips lower (1.5805)

Dr. D.

ukdaytraderhttp://cdn.forexfactory.com/images/icons/icon1.gif GU is screaming short, but I suspect we'll see a...

Posted 34 hr ago
[size=2][b][color=red]GU...
I've made no secret of my short bias. So what's your point? Is 150 pips too much for you? Maybe you should have read back a little further when I predicted EU at 134 when everyone was predicting 120. I know what i'm doing.
You 20 pip scalpers kill me. lol
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