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Cable Update (GBPUSD)

  • #244,521
  • Aug 10, 2010 4:50am Aug 10, 2010 4:50am
Mni talking of possible bids 5750 area if current lows give decisevly...23.6% 4944-5997 @ 5752

G/L
ex member
  • #244,522
  • Aug 10, 2010 4:51am Aug 10, 2010 4:51am
Quoting master4forex
this month gbp/usd maybe go to 1.4200
when was the last time you saw a 1700pip drop in 1mth or rise come to that,? Lol...statistically it is very unlikely..although nothing is impossible
ex member
  • #244,523
  • Aug 10, 2010 4:55am Aug 10, 2010 4:55am
Hi ams. Why do you think price will change direction at that level?
  • #244,524
  • Aug 10, 2010 4:59am Aug 10, 2010 4:59am
Quoting bbmac
when was the last time you saw a 1700pip drop in 1mth or rise come to that,? Lol...statistically it is very unlikely..although nothing is impossible
I know we saw a few in this pairing on the fall from 2.1162-1.3505 but these were precipitous 'outliers' ie black swans at NNt would say, caused by very excepptional circumstances....take the 'outliers' out of the stats and unless there are exceptional circumstances it is unlikely...will the circumstances turn exceptional causing this ? No oneknows...but all we got is our stats.

G/L
ex member
  • #244,525
  • Aug 10, 2010 4:59am Aug 10, 2010 4:59am
crap missed the breakout.. gotta wait for the next one... or maybe a retest if it happens...

Cloggie.. i been reading your posts about the box system and the conversation we had a while ago about pull backs etc... Its really helped gain me more pips and be more patient to look for the right trade... Thanks so much
  • #244,526
  • Aug 10, 2010 5:02am Aug 10, 2010 5:02am
down we go. TP 1.5725. Hope for better day than yesterday... got stopped 3 times on cable at BE . Cable moved 140 pips so far today, so further move south can be small.
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  • #244,527
  • Aug 10, 2010 5:04am Aug 10, 2010 5:04am
http://nsa17.casimages.com/img/2010/...2044111790.jpg

bearish bollinger ?
  • #244,528
  • Aug 10, 2010 5:04am Aug 10, 2010 5:04am
Are the bulls dead?
  • #244,529
  • Aug 10, 2010 5:07am Aug 10, 2010 5:07am
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  • #244,530
  • Aug 10, 2010 5:08am Aug 10, 2010 5:08am
I got Weekly S1 and Daily S3 pivots at 5750 area along with that 23.6% of 4944-5997 and bottom of 1hr decsending channel...I wonder how much demand here...drop so far since 15min pennant/5min congestion broke looks convincing.

G/L
ex member
  • #244,531
  • Aug 10, 2010 5:08am Aug 10, 2010 5:08am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
order filled. now on mercy of market for 50 pip SL :-)



ta
ams



Quoting ams
Going long order@ 157500 Sl @ 57....
  • #244,532
  • Aug 10, 2010 5:10am Aug 10, 2010 5:10am
Quoting ams
Going long order@ 157500 Sl @ 57....
Agree. Many of my trendlines converge around the 15730 area.
  • #244,533
  • Aug 10, 2010 5:15am Aug 10, 2010 5:15am
Quoting ams
order filled. now on mercy of market for 50 pip SL :-)



ta
ams
good, but i will prefer it touches last month high first

that was previous resistance area

n between here and last month high, there is no support
  • #244,534
  • Aug 10, 2010 5:17am Aug 10, 2010 5:17am
okay

here is a talent show

done infront of a huge audience

and on national television

LIVE

which is gonna make you crack !!!

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  • #244,535
  • Aug 10, 2010 5:20am Aug 10, 2010 5:20am
5722 is 61.8% of that 5548-5997, under here re fibs and 5662-56 is 76.4% of said move with 38.2% 5117-same 5997 Hi. 5611-5580 a 3 x fib cluster ( 23.6% 4229-5997, 38.2% 4944-5997 and 23.6% 4345-5997

G/L
ex member
  • #244,536
  • Aug 10, 2010 5:22am Aug 10, 2010 5:22am
Quoting ams
order filled. now on mercy of market for 50 pip SL :-)



ta
ams
this is what i was saying

http://img201.imageshack.us/img201/9048/79501123.gif
  • #244,537
  • Aug 10, 2010 5:23am Aug 10, 2010 5:23am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I changed my order to 57500 and amended sl to 57...

I know it's gonna touch it and if it goes below then it's a very bad sign for the bulls no coming back before 154.

I expect a sharp rise from this level..if not, I'll cancel my trade if it moves up which it'll, hope so

ta
ams


Quoting forexlion
good, but i will prefer it touches last month high first

that was previous resistance area

n between here and last month high, there is no support
  • #244,538
  • Aug 10, 2010 5:26am Aug 10, 2010 5:26am
Quoting bbmac
I got Weekly S1 and Daily S3 pivots at 5750 area along with that 23.6% of 4944-5997 and bottom of 1hr decsending channel...I wonder how much demand here...drop so far since 15min pennant/5min congestion broke looks convincing.

G/L
Not Much..came the reply, Lol..
ex member
  • #244,539
  • Aug 10, 2010 5:49am Aug 10, 2010 5:49am
It was someone mentioining that al lot of his trend lines converge around 5730 that gave me the confidence to enter on the 1min bullish divergence based trigger set-up below...a quick handful of pips against the trend...Thanx...I only had the bottom of the 1hr descending channel as potential support plus some tech stuff on 5min...

G/L
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ex member
  • #244,540
  • Aug 10, 2010 6:06am Aug 10, 2010 6:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
it's weekly support here Piotr1 and trend is still bullish ..if price doesn't revert back here it's a bearish signal and we should be looking to sell rallies if price falls below 157...trend can't be changed in a day


ta
ams


Quoting Piotr1
Hi ams. Why do you think price will change direction at that level?
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