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Cable Update (GBPUSD)

  • #244,381
  • Edited 9:04pm Aug 9, 2010 7:35pm | Edited 9:04pm
Quoting malcolmb14
although summer volume is low i am looking at 15 min and daily volumes compared to last thursday friday only. Today we had a nice supply hit the market on a 15 min ( ultra high vol doji) at yesterdays poc , then been drifting down on low vol since.

I'm long at 15883. If we are testing the weekly low currently, than the swing low (and the upper channel TL) at 15838 won't get breached, imo. Stops at 15837.

Added half position at 15853

Stopped out and back long at 15855. out at 15842. what a bust
  • #244,382
  • Aug 9, 2010 7:54pm Aug 9, 2010 7:54pm
Quoting wormboy
no quick guides. learn to plot them properly or you'll find yourself plotting meaningless trendlines.
You might want to look up tom demark or igor toshchakov & get their books.
igor toshchakov has an active thread here in the factory. Might want to get your basics down first before trying to approach him.
Here is the link to his thread:
1. http://www.forexfactory.com/showthread.php?t=21887

all the best

shoutout
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 96 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #244,383
  • Aug 9, 2010 7:54pm Aug 9, 2010 7:54pm
Quoting DemoTrader
if daily close is at 1.5917 or below then where going back up to 1.6000 area if it close above 1.5917 then where heading down to 1.5580 area, if it breaks daily high before daily close then where back in a strong uptrend. either way there's money to be made
i went long at 1.5852 my t/p is at 1.5960
  • #244,384
  • Aug 9, 2010 8:34pm Aug 9, 2010 8:34pm
Quoting wormboy
you guys got no imagination!!

short cable or die trying!

seriously tho, tell me why not now? why would it be idiotic to short cable now from this level?
I kept shorting off the resistance since monday,nothing's changed. i didn't lose money. 5970 is a boss level. even the nfp spike closed below 970 at ny close. as long as it's not out of 970 and close cleanly above it, nothing wrong with selling. when taking positions be it buying or selling off a major supp/res level, when taken on the right side of the barrier the risk is always...
told ya. selling off the 5970 resistance was low risk.
Thank You
  • #244,385
  • Aug 9, 2010 8:36pm Aug 9, 2010 8:36pm
Quoting wormboy
told ya. selling off the 5970 resistance was low risk.
  • #244,386
  • Aug 9, 2010 8:37pm Aug 9, 2010 8:37pm
Quoting djambazov84
shoutout
that's a beauty dj.
take that 76.4% you have couple it with the 50% on the W1, the monthly & the quarterly resistance level makes you wonder why people were still calling it long right before the level is taken out.
Thank You
  • #244,387
  • Aug 9, 2010 8:39pm Aug 9, 2010 8:39pm
Quoting digger1
hey dig how's it going bro
Thank You
  • #244,388
  • Aug 9, 2010 8:39pm Aug 9, 2010 8:39pm
Quoting Pickensrulz
I'm long at 15883. If we are testing the weekly low currently, than the swing low (and the upper channel TL) at 15838 won't get breached, imo. Stops at 15837.

Added half position at 15853

Stopped out and back long at 15855
Stop in the same place again ?
  • #244,389
  • Aug 9, 2010 8:40pm Aug 9, 2010 8:40pm
Quoting wormboy
hey dig how's it going bro
Pretty good , took a while for this to drop but all is well , and you?
  • #244,390
  • Aug 9, 2010 8:43pm Aug 9, 2010 8:43pm
Quoting digger1
Pretty good , took a while for this to drop but all is well , and you?
great to hear.
i'm doing okay. cashed my cable short. now flat.
I'll probably trade it again at lo later. I have one UsdCad long trade open tho, that one's left for the home run
Thank You
  • #244,391
  • Aug 9, 2010 8:46pm Aug 9, 2010 8:46pm
Quoting wormboy
great to hear.
i'm doing okay. cashed my cable short. now flat.
I'll probably trade it again at lo later. I have one UsdCad long trade open tho, that one's left for the home run
yes , I closed also , along with todays dragon shorts , now see wht frankie and london bring lol
  • #244,392
  • Aug 9, 2010 8:51pm Aug 9, 2010 8:51pm
Quoting digger1
yes , I closed also , along with todays dragon shorts , now see wht frankie and london bring lol
nice work brother.
I'll catch you later, I'm gonna go back to bed.

See ya
Thank You
  • #244,393
  • Aug 9, 2010 8:52pm Aug 9, 2010 8:52pm
Quoting wormboy
nice work brother.
I'll catch you later, I'm gonna go back to bed.

See ya
later man , have a great rest
  • #244,394
  • Aug 9, 2010 8:55pm Aug 9, 2010 8:55pm
Quoting wormboy
told ya. selling off the 5970 resistance was low risk.
Hi WB, finally close my short on GU 5860 (short from last week) , now hold another one on dragon (also since last week).....stop at BE also...

i just open a small long at 5834 on GU for a small retrace (let we see if this support hold)
Trade with the momentum
  • #244,395
  • Aug 9, 2010 9:25pm Aug 9, 2010 9:25pm
Good moning colleagues!

Price is getting back in channel. I suppose that we can touch bottom border of it. Put my Sell stop on 1.5800 target 1.5650

Good luck with your trades.
http://2.bp.blogspot.com/_LbKfbdL8RY...0%BD%D1%82.gif
  • #244,396
  • Aug 9, 2010 10:16pm Aug 9, 2010 10:16pm
What the hell is going on tonight? Not that there's anything wrong with it, but if this PA leads to a bounce, where should I buy in?
Si vis pacem, para bellum.
  • #244,397
  • Aug 9, 2010 10:21pm Aug 9, 2010 10:21pm
Quoting Duce
What the hell is going on tonight?

0000 GMT [Dow Jones] GBP/USD, EUR/USD falling as U.K. RICS survey's headline index on house prices at minus 8 percentage points in July, sharply weaker than +5 percentage points expected, says senior dealer at major bank in Tokyo; data suggests U.K. house prices to remain soft for next three months as number of new properties for sale outpaced demand. EUR/USD last at 1.3216 vs 1.3230 before data. GBP/USD last at 1.5886 vs 1.5906 ahead of data release. Adds impact of "this minor data" should be short-lived, therefore EUR, GBP should resume rising as stocks in Japan expected to gain after firm NY stocks overnight, he says.
  • #244,398
  • Aug 9, 2010 10:22pm Aug 9, 2010 10:22pm
Quoting Duce
What the hell is going on tonight? Not that there's anything wrong with it, but if this PA leads to a bounce, where should I buy in?
I suppose that if you want to buy pound, then do it on middle border (5720 area) or bottom border (1.55 area)
  • #244,399
  • Aug 9, 2010 10:26pm Aug 9, 2010 10:26pm
Quoting Vasile
I suppose that if you want to buy pound, then do it on middle border (5720 area) or bottom border (1.55 area)
Not before Fed Funds Rate man, its better to stay out before that unless you are already comfortably in with 100+ pips on either side you are.
  • #244,400
  • Aug 9, 2010 10:27pm Aug 9, 2010 10:27pm
1.5498 to be exact.
Si vis pacem, para bellum.
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