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Cable Update (GBPUSD)

  • #244,641
  • Aug 10, 2010 1:45pm Aug 10, 2010 1:45pm
Quoting 4xStar
Look how she skidded to a stop at Cloggie's infamous .5904 line ... did anyone get in on the ride? I managed part of it .. wheee ... luckily I waited for her to hit that line.
she's not gonna stop there....
Hear the music before the song is over ...
  • #244,642
  • Aug 10, 2010 1:45pm Aug 10, 2010 1:45pm
Quoting 4xStar
Look how she skidded to a stop at Cloggie's infamous .5904 line ... did anyone get in on the ride? I managed part of it .. wheee ... luckily I waited for her to hit that line.

Buzzzzzzzzzzzzzzed all the way along with it for a total of 90 pips........... made my day
  • #244,643
  • Aug 10, 2010 1:46pm Aug 10, 2010 1:46pm
As I watched it trying to pull back and rise again, I got in long at 1.57544. As soon as I got to +10, I put in a SL at +1.
At +25 I move it to +10.
So I got the entire ride.
Current SL at +100.
I have a 30 pip buffer.....
I'm not sure the ride is over yet, so I'll just manage this one........
  • #244,644
  • Aug 10, 2010 1:49pm Aug 10, 2010 1:49pm
Quoting GlobalMacro
she's not gonna stop there....
Would be wonderful if it went all the way back down too 1.5710 although I 'm pretty sure she won't, well not this evening anyways, maybe tomorrow
  • #244,645
  • Aug 10, 2010 1:49pm Aug 10, 2010 1:49pm
Quoting 4xStar
Look how she skidded to a stop at Cloggie's infamous .5904 line ... did anyone get in on the ride? I managed part of it .. wheee ... luckily I waited for her to hit that line.
I got 49 but my order slipped 15 so in hindsight I figure I got lucky that it kept going.
  • #244,646
  • Aug 10, 2010 1:52pm Aug 10, 2010 1:52pm
Quoting AdrianHNV
Would be wonderful if it went all the way back down too 1.5710 although I 'm pretty sure she won't, well not this evening anyways, maybe tomorrow
1.5710 tomorrow? why?
Hear the music before the song is over ...
  • #244,647
  • Aug 10, 2010 1:53pm Aug 10, 2010 1:53pm
Quoting GlobalMacro
she's not gonna stop there....
I agree, I think she is just gathering strength for another assault on that 5904 area which is also close to DP .. if she makes it across then 1.60+ may be back on the table ... but I will just try to follow price, not anticipate it.
******************* I'd rather make money than be right.
  • #244,648
  • Aug 10, 2010 1:54pm Aug 10, 2010 1:54pm
ok, we got the touch on the channel utl. if price isn't contained at 15900, we challenge the top again.

Quoting Fudomyo
... she may want to give the daily channel utl on the 4H 23.6% a tap, so that would be a reasonable target.
Attached Image (click to enlarge)
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  • #244,649
  • Aug 10, 2010 1:56pm Aug 10, 2010 1:56pm
Quoting bbmac
the 1hr chart shows where price is pulling back from

G/L
I have the same channel on my H1 and am wondering what your yellow line is. Moving Average and if so, what settings? This blew by my 200EMA

Thanks in advance!
  • #244,650
  • Aug 10, 2010 1:57pm Aug 10, 2010 1:57pm
Quoting Magix
This simply doesn't make sense.

IF we get to 1.5555, there is a very good likelihood that we do test daily support some 200 pips below this number...from there if support doesn't hold, and if you check back through historical charts, August is a selling month, you could be holding a lot more loss...

Second....
IF historical charts fail, and all we are really doing is a bit of a retrace, what if price never hits your target for re-entry?

I have seen a lot of people try and fail using the same strategy...picking tops n bottoms.

Really, if you...
For me it's just finding optimal r/r
I'm not selling in a clear uptrend.
1.555 is not an entry level, it's a level where I would be interested if it gives support. If PA develops unexpected I'll reconsider my chances look for other pairs and other configurations.
I fail to see why some of you are so eager to fetch every move, there are millions of them.....
Don't be a hero. Don't have an ego. Always question yourself
  • #244,651
  • Aug 10, 2010 1:58pm Aug 10, 2010 1:58pm
Quoting 4xStar
I agree, I think she is just gathering strength for another assault on that 5904 area which is also close to DP .. if she makes it across then 1.60+ may be back on the table ... but I will just try to follow price, not anticipate it.
exactly....and this time those options rollers are toast up there...
Hear the music before the song is over ...
  • #244,652
  • Aug 10, 2010 2:00pm Aug 10, 2010 2:00pm
GlobalMacro -

do you have an upside target?
  • #244,653
  • Aug 10, 2010 2:02pm Aug 10, 2010 2:02pm
Quoting gotpips92
GlobalMacro -

do you have an upside target?
not a fixed one...I trail it....also see my previous post above regarding price potential...
Hear the music before the song is over ...
  • #244,654
  • Aug 10, 2010 2:03pm Aug 10, 2010 2:03pm
Quoting GlobalMacro
1.5710 tomorrow? why?
I stupidly still have a short down there on one of my accounts.................fortunately with a small pip value but every trade counts.
  • #244,655
  • Aug 10, 2010 2:04pm Aug 10, 2010 2:04pm
Quoting GlobalMacro
not a fixed one...I trail it....also see my previous post above regarding price potential...
okay. thanks. I saw you trade options on your profile... So you believe the defenses on that level are growing thin? If i am interpreting correctly?
  • #244,656
  • Aug 10, 2010 2:05pm Aug 10, 2010 2:05pm
Quoting gotpips92
GlobalMacro -

do you have an upside target?
1.6020
  • #244,657
  • Aug 10, 2010 2:05pm Aug 10, 2010 2:05pm
Quoting AdrianHNV
I stupidly still have a short down there on one of my accounts.................fortunately with a small pip value but every trade counts.
OK...I see...
Hear the music before the song is over ...
  • #244,658
  • Aug 10, 2010 2:05pm Aug 10, 2010 2:05pm
Quoting GlobalMacro
not a fixed one...I trail it....also see my previous post above regarding price potential...
It broke a trendline so it may go near 1.6.
  • #244,659
  • Aug 10, 2010 2:08pm Aug 10, 2010 2:08pm
ideally, I would love to see 1.65. It would be good for the U.S. economy. However, BOe has me a touch concerned...
  • #244,660
  • Aug 10, 2010 2:08pm Aug 10, 2010 2:08pm
Quoting gotpips92
okay. thanks. I saw you trade options on your profile... So you believe the defenses on that level are growing thin? If i am interpreting correctly?
that's right... those options survived by a single pip (1.5999 unbelievable!)

there is also a possibility that they're close to expiration...if you recall the range started just below 1.60 early last week...
Hear the music before the song is over ...
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