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Cable Update (GBPUSD)

  • #244,561
  • Aug 10, 2010 7:32am Aug 10, 2010 7:32am
today may have been profit taking before FOMC. if the Fed blinks about QE, we could be back to 16000 in no time.

closed my positions here, we could drop further before Bernanke speaks, but 4H very OB.

nice move...

enjoy the rest of the session.
  • #244,562
  • Aug 10, 2010 7:35am Aug 10, 2010 7:35am
Quoting primzvicious
yes it is... me, only saw 800-825 area...
alrite

btw ...

Quoting primzvicious
wheres that dancing bear mate?... show it
told you, save the best for last!


good luck bro.
Attached Image
Thank You
  • #244,563
  • Aug 10, 2010 7:35am Aug 10, 2010 7:35am
Quoting wormboy
nice one bro

it's so quiet in here, bulls must be worried. 5970 seems so far away now ey
you too! well done!

let's see what happens. if the fed doesn't commit the mortgage funds on a timeline, bulls could be back with a vengence.
  • #244,564
  • Aug 10, 2010 7:37am Aug 10, 2010 7:37am
Quoting wormboy
alrite

btw ...



told you, save the best for last!


good luck bro.
you too...
Verily, in every difficulties there is relief
  • #244,565
  • Aug 10, 2010 7:38am Aug 10, 2010 7:38am
Inserted Video
  • #244,566
  • Aug 10, 2010 7:43am Aug 10, 2010 7:43am
Quoting Fudomyo
you too! well done!

let's see what happens when Ben speaks. if they don't commit the mortgage funds on a timeline, bulls could be back with a vengence.
yup. cleared most of my shorts as well bar one for 640.
catch you later bro
Thank You
  • #244,567
  • Aug 10, 2010 7:46am Aug 10, 2010 7:46am
Quoting Fudomyo
today may have been profit taking before FOMC. if the Fed blinks about QE, we could be back to 16000 in no time.

closed my positions here, we could drop further before Bernanke speaks, but 4H very OB.

nice move...

enjoy the rest of the session.
Yes that would seem like a very wise thing to do.

Having got my 5% today I think I too will head for the couch........as it's raining here in the good old UK, so no gardening for this little bee today
  • #244,568
  • Aug 10, 2010 7:47am Aug 10, 2010 7:47am
Hey Worm,

"Long" for a bit here...
Just got back from the beach & the daughter's birthday
last week.

We'll see what this will yeild for a little bit.
-Just a small lot.

Best of Pippin Bud,
Hope all is well,

Jeff
I will work to Objectively Identify my Edges
  • #244,569
  • Aug 10, 2010 7:49am Aug 10, 2010 7:49am
again Now SL at BE (1.57246) TP 1.58, but with quick ride there maybe 'll change higher.
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  • #244,570
  • Aug 10, 2010 7:50am Aug 10, 2010 7:50am
Quoting TerpFan2
Hey Worm,

"Long" for a bit here...
Just got back from the beach & the daughter's birthday
last week.

We'll see what this will yeild for a little bit.
-Just a small lot.

Best of Pippin Bud,
Hope all is well,

Jeff

hi jeff,

that might work. just keep an eye on the overhead @780. I'm not placing any new trades till tomorrow. Just maintaining the remaining of my trades.
All the best bro
Thank You
  • #244,571
  • Aug 10, 2010 7:55am Aug 10, 2010 7:55am
Quoting Fudomyo
today may have been profit taking before FOMC. if the Fed blinks about QE, we could be back to 16000 in no time.

closed my positions here, we could drop further before Bernanke speaks, but 4H very OB.

nice move...

enjoy the rest of the session.
FederalOffice of MarginCall will say nothing to change the present direction now. Fundamental will all show on our technical charts. If QE or no QE, market sentiment don't interpret news straight and FOMC always have effect days after, not on the spike time.

Precap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,572
  • Aug 10, 2010 8:02am Aug 10, 2010 8:02am
Quoting wormboy
hi jeff,

that might work. just keep an eye on the overhead @780. I'm not placing any new trades till tomorrow. Just maintaining the remaining of my trades.
All the best bro
Roger Dodger Buddy,

That's exactly where,
I had my T.P. at... 1.5782 "ish" on a 23.6 Fib.

Was hoping to see the Dow "Pop" a bit @the open,
but the China thing/Futures overnight haven't looked so sweet.
-We'll See! She just pant's over the "50" / "60" line i'm happy.

Best of Trading Wormboy,
And All,

Jeff
I will work to Objectively Identify my Edges
  • #244,573
  • Aug 10, 2010 8:28am Aug 10, 2010 8:28am
hate this... stopped again. I'll be mad if it will pop higher
  • #244,574
  • Aug 10, 2010 8:30am Aug 10, 2010 8:30am
Quoting Magix
Ah...30m support on deck currently, I would expect to see a little buying into this action....
http://www.forexfactory.com/showpost...stcount=244381

Well, we crushed my expectations on a down move through London session...Very Nice!

Hourly support cut past like a hot knife through butter.

For a true and proper confirmation and trigger, I would expect the Hourly resistance now be tested before moving on to the next immediate long term target of the H4 200EMA. As the daily support has never been tested, I am still seeing this as the possible downside retrace, but will just enjoy taking the rides on the immediate tides.

Chart 1, hourly possible retrace zone for proper trigger on trend.
Chart 2, H4 targeted zone based on 200EMA.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: h4t.jpg Size: 75 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #244,575
  • Aug 10, 2010 8:32am Aug 10, 2010 8:32am
talk about cable tanking...
  • #244,576
  • Aug 10, 2010 8:35am Aug 10, 2010 8:35am
She broke the Neckline,

"Down" on a 5 min chart...
But the question was & is how far down,
will she follow the Dow or -not.

'Haven't looked for when the Fed actually
"Jibber-Jabber". But they seem to have
some things like keep rates low, etc, etc, etc.

We'll see.
I survived the busted neck but 'not sure this
is all worth it for a few, 10, 20, 30, 40 pips?
Best of Trading,

Jeff
I will work to Objectively Identify my Edges
  • #244,577
  • Aug 10, 2010 8:36am Aug 10, 2010 8:36am
Quoting Magix
http://www.forexfactory.com/showpost...stcount=244381

Well, we crushed my expectations on a down move through London session...Very Nice!

Hourly support cut past like a hot knife through butter.
This happens all too often...
  • #244,578
  • Aug 10, 2010 8:37am Aug 10, 2010 8:37am
Quoting witsnpips
This happens all too often...


whut?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #244,579
  • Aug 10, 2010 8:39am Aug 10, 2010 8:39am
Quoting forexlion
http://www.youtube.com/watch?v=6UeCRY1wciA
that's how I have been dancing since morning....

I was expecting this correction since Friday close despite many eying 1.65 this week!!!!! nothing smells better than aroma of freshly brewed pips in the morning I had a few good one since last night
  • #244,580
  • Aug 10, 2010 8:50am Aug 10, 2010 8:50am
While everyone was trying to find a place to go long again, 5 min boxes were telling the 'real' story ... she might not be finished with the down elevator just yet.
Attached Image (click to enlarge)
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