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Cable Update (GBPUSD)

  • #246,301
  • Aug 17, 2010 2:18pm Aug 17, 2010 2:18pm
Quoting cloggie
Did you make sure you got paid on reaching the top of the flag?
hello Cloggie,

kindly post any chart that has your boxes on them so i see what the formation would look like. just cant seem to see box making opportunities much on my charts.

many thanks as always
  • #246,302
  • Aug 17, 2010 2:22pm Aug 17, 2010 2:22pm
Quoting monkey@forex
evening guys, is there any reason why the pound dropped today? Euro has barely dropped, so why has pound dropped, considering a few days ago we were thinking its done its retracement and will be back to 1.6000 or at least 1.57...
I think it had to drop because of the false break reversal pattern but probably the 1.5560 support level will hold and it will start going up, what do you think?
  • #246,303
  • Aug 17, 2010 2:32pm Aug 17, 2010 2:32pm
Quoting GlobalMacro
That's nice Kas...I love the sea and everything in it...especially fish, scampi...LOL...you name it...
Maybe I should take some time off doing what you do...I am sure that would be a great relaxing experience for me...
Hi GM, yeah it is good fun, takes loads of patience talking to the "yuch dont like fish" types until you meet the ones who say "Oh wow what you got".
You're welcome anytime...come over have a fishy break..
Thanks for your help mun..
All systems of divination, like music itself,work through patterns.
  • #246,304
  • Aug 17, 2010 2:33pm Aug 17, 2010 2:33pm
Quoting pipgame
just my view........


comments appreciated ......


have a nice day/night



pipgame
Your charts are very similar to mine. But my projected targets are around 15400s.

Alright, a freebie attachment. Happy pips everyone!
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  • #246,305
  • Aug 17, 2010 2:49pm Aug 17, 2010 2:49pm
Quoting kaspopsicle
Hi GM, yeah it is good fun, takes loads of patience talking to the "yuch dont like fish" types until you meet the ones who say "Oh wow what you got".
You're welcome anytime...come over have a fishy break..
Thanks for your help mun..
Hi Kas...I hear you...as long as it's fun tho all is good...

Hopefully I can arrange a sea break...I would love to do that......I need to take one of those pictures with a huge sword fish....you know...?...LOL

Cheers...and may you continue to have tons of fun & pips...
Hear the music before the song is over ...
  • #246,306
  • Aug 17, 2010 3:16pm Aug 17, 2010 3:16pm
daily tl was broken......I would have liked to have seen more conviction on the break. Most other risk currencies were bid today, showing pounds weakness, especially against yen. This 50 fib might be a control point for the bears, and to me, it looks a lot like the rejection @ 6000. I'm going to hold my short unless I see clear reason to close it......next downside support I see after a break of 5534 is weekly S1 , other than that I don't see much in the way besides 5500. We could see longs taking profit during asian and london sessions since we closed below the weekly 50 fib.
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  • #246,307
  • Aug 17, 2010 3:17pm Aug 17, 2010 3:17pm
Why do i get the feeling that we're going to tank tomorow? Looking at my charts i cant help be bearish. Seems to me that the bulls had a chance to take this up but failed, i expect support to break by the end of the week to take out stops at the very least, but i think we are heading for 1.5260 soon.
Not taking a position at the moment. Clearly the gbp/usd diverged from most other pairs today and this is somthiing to consider and i would not expect to see a second day with as much divergence.
Inside bar today indicates further weakness from the bulls, could be a short play, but the divergence is the only thing holding me back.

just my 0.01 of a cent
  • #246,308
  • Aug 17, 2010 3:24pm Aug 17, 2010 3:24pm
Quoting GlobalMacro
Hi Kas...I hear you...as long as it's fun tho all is good...

Hopefully I can arrange a sea break...I would love to do that......I need to take one of those pictures with a huge sword fish....you know...?...LOL

Cheers...and may you continue to have tons of fun & pips...
i can arrange a sword fish steak x10 in a box ., all vac.wrapped individually. Will try to hook one and send on the photie.
Meanwhile,,, all is good.. thanx.. arrange that break! Am flat at the mo.
All systems of divination, like music itself,work through patterns.
  • #246,309
  • Aug 17, 2010 3:48pm Aug 17, 2010 3:48pm
Quoting Jym
I usually avoid trading this time of night on Sunday so maybe that's the difference but I've never seen a spike that differed that much from the other platforms and I've been with FXCM for almost a year.

And just as a heads up for anyone wondering I applied for an audit and did get my money back for a trade that was stopped out on one of those error spikes the other night.

1st problem I've ever really had with them other than their notorious slippage
  • #246,310
  • Aug 17, 2010 4:18pm Aug 17, 2010 4:18pm
anybody bullish feelings on cable today?
  • #246,311
  • Aug 17, 2010 4:27pm Aug 17, 2010 4:27pm
Quoting GlobalMacro
@ 4xStar,

do you see any similarity between where we are now and that 1.5900 level last week?
not really .. what tf are you looking at?
******************* I'd rather make money than be right.
  • #246,312
  • Aug 17, 2010 4:28pm Aug 17, 2010 4:28pm
Quoting dfptommyj
anybody bullish feelings on cable today?
Sure....
Attached Image
******************* I'd rather make money than be right.
  • #246,313
  • Aug 17, 2010 4:39pm Aug 17, 2010 4:39pm
Quoting lechidi
hello Cloggie,

kindly post any chart that has your boxes on them so i see what the formation would look like. just cant seem to see box making opportunities much on my charts.

many thanks as always
Today was not the best example, but here is a 5 min chart .. the 'boxes' are nothing more than identifying areas of consolidation so it is easier to see when price breaks out one way or the other. Spikes out of the box don't count, the candle should close above or below the chart & show some sign of momentum building (length or shape of candle). Put up a 5 min price only chart and just scroll back and outline the consolidation areas, then zoom in to see candle activity within those areas .. a little practice and you will start to see it. Then later you can do it without drawing the boxes.
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******************* I'd rather make money than be right.
  • #246,314
  • Aug 17, 2010 4:41pm Aug 17, 2010 4:41pm
Quoting 4xStar
Sure....
me I am

if news was that bad why the hell has max volume on 60 min all week occurred on major support level that the buyers have been accumualting off all week

this is a pure vsa trade

long 1.5558 target 1.5700

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #246,315
  • Aug 17, 2010 4:50pm Aug 17, 2010 4:50pm
Quoting malcolmb14
me I am

if news was that bad why the hell has max volume on 60 min all week occurred on major support level that the buyers have been accumualting off all week

this is a pure vsa trade

long 1.5558 target 1.5700

Attachment
Ewww..whuts yer sl on this one mal?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #246,316
  • Aug 17, 2010 4:51pm Aug 17, 2010 4:51pm
Quoting malcolmb14
me I am

if news was that bad why the hell has max volume on 60 min all week occurred on major support level that the buyers have been accumualting off all week

this is a pure vsa trade

long 1.5558 target 1.5700

Attachment
I m sterling bullish also, G/frankie, nice formation, if this voting in GB helps we may have a nice up day, only thing that scares me a little is that trendline on daily GU, but we r still above 200 dma... GJ did nothing all day looks like that 5 day support is holding we'll see, asia might be consolidation (no data comming out) L will move the markets
  • #246,317
  • Aug 17, 2010 4:54pm Aug 17, 2010 4:54pm
Quoting dfptommyj
I m sterling bullish also, G/frankie, nice formation, if this voting in GB helps we may have a nice up day, only thing that scares me a little is that trendline on daily GU, but we r still above 200 dma... GJ did nothing all day looks like that 5 day support is holding we'll see, asia might be consolidation (no data comming out) L will move the markets
for me one leg down before go up i am expecting 5480-5520 before up..

Ub
  • #246,318
  • Aug 17, 2010 5:03pm Aug 17, 2010 5:03pm
Quoting 4xStar
Today was not the best example, but here is a 5 min chart .. the 'boxes' are nothing more than identifying areas of consolidation so it is easier to see when price breaks out one way or the other. Spikes out of the box don't count, the candle should close above or below the chart & show some sign of momentum building (length or shape of candle). Put up a 5 min price only chart and just scroll back and outline the consolidation areas, then zoom in to see candle activity within those areas .. a little practice and you will start to see it. Then later...
here is simple hulls and vsa .. look where the volume piskes are right at top of flags / up moves

I hit this one off .15670 yesterday for 1.5560 target , covered why in my vsa thread. Now long again ...

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #246,319
  • Aug 17, 2010 5:10pm Aug 17, 2010 5:10pm
Quoting kaspopsicle
i can arrange a sword fish steak x10 in a box ., all vac.wrapped individually. Will try to hook one and send on the photie.
Meanwhile,,, all is good.. thanx.. arrange that break! Am flat at the mo.
Sounds fantastic...

I will definitely try...

I'm also flat until LDN...take care!
Hear the music before the song is over ...
  • #246,320
  • Aug 17, 2010 5:16pm Aug 17, 2010 5:16pm
Quoting 4xStar
not really .. what tf are you looking at?
no specific tf...anything low resolution or zoomed out....

price retracing into congestion zone i.e. finding support (1.5900 retraced into CZ & found resistance then!)

just wanted to check if you saw any similar characteristics here...

see you LDN...have a good one!
Hear the music before the song is over ...
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