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Cable Update (GBPUSD)

  • #243,081
  • Aug 4, 2010 8:11am Aug 4, 2010 8:11am
Scenario for today

One move lower to 1.5887 or 1.5822 is anticipated while below 1.5961 - 1.5993 area. Stop loss above 1.6034 zone.

Scenario for this week

Corrective dip to 1.5489 is favored while below 1.5800 . Stop Loss above 1.5917 limit.

Scenario for this month

If market stays below 1.5703 a fall to 1.5279 is expected. If market breaks the point 1.5979 it could reach the sky.
  • #243,082
  • Aug 4, 2010 8:11am Aug 4, 2010 8:11am
Quoting GlobalMacro
it's a scalper's paradise...heavy options play on both sides containing price in a narrow range...
watch out next coupe of H, i think will b interesting
  • #243,083
  • Aug 4, 2010 8:13am Aug 4, 2010 8:13am
Quoting egkid
watch out next coupe of H, i think will b interesting

I am looking at a possibility of 3 more H4 bars to complete the consolidation phase there.
  • #243,084
  • Aug 4, 2010 8:14am Aug 4, 2010 8:14am
Quoting egkid
watch out next coupe of H, i think will b interesting
it could be
Verily, in every difficulties there is relief
  • #243,085
  • Aug 4, 2010 8:16am Aug 4, 2010 8:16am
Quoting primzvicious
my view
now im risking nothing...
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Verily, in every difficulties there is relief
  • #243,086
  • Aug 4, 2010 8:16am Aug 4, 2010 8:16am
Quoting cloggie
Absolutely, am loving the last 2 days, like taking candy from a baby. A 2 day 50 pip range is why I love Cable so much. Fibre will never give you this.



yup..."yooro" is kind of a sicko currency...if you even can call it a currency at all....
Hear the music before the song is over ...
  • #243,087
  • Aug 4, 2010 8:18am Aug 4, 2010 8:18am
Nice clear entry on underside test of that LTL ...
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******************* I'd rather make money than be right.
  • #243,088
  • Aug 4, 2010 8:22am Aug 4, 2010 8:22am
Quoting egkid
watch out next coupe of H, i think will b interesting
what's H?
Hear the music before the song is over ...
  • #243,089
  • Aug 4, 2010 8:25am Aug 4, 2010 8:25am
Quoting GlobalMacro
what's H?
Hour
  • #243,090
  • Aug 4, 2010 8:26am Aug 4, 2010 8:26am
Flat, sitting, wating patiently for the rect to dissolve one way or the other.
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  • #243,091
  • Aug 4, 2010 8:27am Aug 4, 2010 8:27am
Quoting 4xStar
Nice clear entry on underside test of that LTL ...
Yes i watch it , was thinking to add but enough already have many open positions so decided not add
  • #243,092
  • Aug 4, 2010 8:28am Aug 4, 2010 8:28am
Quoting 4xStar
Nice clear entry on underside test of that LTL ...

Oh come on do tell, how many Indy's have you used in the last few days?
  • #243,093
  • Aug 4, 2010 8:29am Aug 4, 2010 8:29am
Hi Cloggie can you take a look at this chart please and tell me what you think of the entrys? there the white arrows. I havent done them all I have only done two real trades to day and am BE I paper traded all the arrows.

and do you trade through news?

Cheers.
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  • #243,094
  • Aug 4, 2010 8:30am Aug 4, 2010 8:30am
Quoting egkid
Hour
what'll happen in the next H?
Hear the music before the song is over ...
  • #243,095
  • Aug 4, 2010 8:31am Aug 4, 2010 8:31am
Quoting reflex
Hi Cloggie can you take a look at this chart please and tell me what you think of the entrys? there the white arrows. I havent done them all I have only done two real trades to day and am BE I paper traded all the arrows.

and do you trade through news?

Cheers.

How can you be at BE? They are all good trades, you chickening out and close them too soon?

Most news is priced into the market, I only avoid the biggies, close my day trades 10 mins before and get back in at a better price if the news helps the direction based on how the price reacts, not something I would recommend for "newer" traders, just get out 10 mins before and wait till the price has stabilised before getting back in again.
  • #243,096
  • Aug 4, 2010 8:34am Aug 4, 2010 8:34am
Quoting 4xStar
Nice clear entry on underside test of that LTL ...

You are ignoring the inside TL formed by friday and sunday's high, it hasn't come into play yet (that's why I told you to ignore it yesterday) but may come into play here. Taking a short in no-mans land (see earlier post) is a low probability trade, if you miss the first leg don't get in halfway wait for the next pattern to form. That TL you use disects the range and should be used as confirmation of earlier entry or scaling in, not as an entry it self. The key part of any range is the halfway mark, a trade will either continue or fail at the halfway point, it is an phychological level, lots of traders will use it as profit taking, it made it halfway time to get out kind of thing. Plus you need to worry about this TL coming into play so that the Bull run can continue, it is part of the H4 consolidation range and should not be ignored on the lower TF's
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  • #243,097
  • Aug 4, 2010 8:36am Aug 4, 2010 8:36am
Quoting cloggie
You are ignoring the inside TL formed by friday and sunday's high, it hasn't come into play yet (that's why I told you to ignore it yesterday) but may come into play here.
have you posted a chart of this inside tl? is that the one on the pervious page?
  • #243,098
  • Aug 4, 2010 8:38am Aug 4, 2010 8:38am
Quoting egkid
Waiting , 3 min candle will close
Can B
Attachment
Maybe the rest of the story....

Attached Image
  • #243,099
  • Aug 4, 2010 8:39am Aug 4, 2010 8:39am
target median line
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  • #243,100
  • Aug 4, 2010 8:43am Aug 4, 2010 8:43am
i'm aiming little higher.
TP 1.5990
Come on people, load shorts ! i have stops to eat
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