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Cable Update (GBPUSD)

  • #246,461
  • Aug 18, 2010 4:15am Aug 18, 2010 4:15am
...keeping it simple with basic S/R and a nod to the RSI. 5min entries/exits, trailing stops under last confirmed support. No guesswork required.
Attached Image (click to enlarge)
Click to Enlarge Name: 18th Aug GU 5min Entry (1).PNG Size: 43 KB
  • #246,462
  • Aug 18, 2010 4:15am Aug 18, 2010 4:15am
Quoting malcolmb14
now is where is this going

1.5650 to 1.5700 channel high ....taking half 5650 , then trailing stop

Respect for your volume call at 1.5500

Take care!
"Flip that coin!"
  • #246,463
  • Aug 18, 2010 4:16am Aug 18, 2010 4:16am
Ok so the bounce on 200 EMA on 4H has taken us across the 200 EME on 5M, 15M. We are currently over the 200 EME on 30M but havent closed yet. If we close over I guess next target could be the 200EMA on the 1H.

Too bad I closed my long before the news. Now Im just waiting for this sucker to slow down.

Still don't understand though.....
  • #246,464
  • Aug 18, 2010 4:17am Aug 18, 2010 4:17am
Mni talking about offers to 5650, ahead of 'interim offers' possibly 5670/80, stronger likely @ 5695/05 ?

Price hitting the steepest intact decsending trend line on 1hr now...other potential supp/res factors as i see them are on 1hr screenshot below...price is also about the 4hr descending trend line/channel right now...

G/L

http://www.easy-upload.net/fichiers/z.2010818111912.gif
ex member
  • #246,465
  • Aug 18, 2010 4:18am Aug 18, 2010 4:18am
Quoting fxoxford
i went short at 1.5586, t/p at 1.5425
went short at 1.5640, new t/p at 1.5485
  • #246,466
  • Aug 18, 2010 4:21am Aug 18, 2010 4:21am
Watch out longs, this is USD-Weakness and not GBP-Strength
Don't be a hero. Don't have an ego. Always question yourself
  • #246,467
  • Aug 18, 2010 4:24am Aug 18, 2010 4:24am
Quoting USD-Bear
Watch out longs, this is USD-Weakness and not GBP-Strength

the upmove had started off the 200sma-daily t/f before the data but it was heightened by the reaction to Uk data...and actually it doesn't matter what it is from a tech point of view,..there were more buyers than sellers, that is all we need to know, unless of course you are trading fundamentally or other non-tech analysis.
ex member
  • #246,468
  • Aug 18, 2010 4:27am Aug 18, 2010 4:27am
Quoting malcolmb14
now is where is this going

1.5650 to 1.5700 channel high ....taking half 5650 , then trailing stop
I dunno, set up was good for me, I went flat a while ago, leaving much moolah on the table. I recovered yesterdays loss, which was sizable and made some coin to boot, now I'm taking a break before I do something stupid with my regained confidence.

Only really started focusing on this pair this month. I've made more cable trades in August than I did in the last 4 years combined.
  • #246,469
  • Aug 18, 2010 4:29am Aug 18, 2010 4:29am
Starting from the fractal swing low on 1hr at yesterday's low, the 1hr has printed that as a LL, then a LH, LL, LH,LL, and now a H above those last 2 x HL and a third LH on that t/f...so mixed-bullish price action on that t/f now but still not an overall price action-peak/valley analysis uptrend yet.

G/L
ex member
  • #246,470
  • Aug 18, 2010 4:29am Aug 18, 2010 4:29am
its as simple as it gets, its over sold on supply area, and plus i had a vision of a coin landing on tails, so hallo a vision who beats visions haha
Attached Image (click to enlarge)
Click to Enlarge Name: wit lyn.gif Size: 23 KB
  • #246,471
  • Aug 18, 2010 4:30am Aug 18, 2010 4:30am
Not shorting yet... Waiting for the 1H 200 EMA to see how it behaves there. Might scalp if we get there.
  • #246,472
  • Aug 18, 2010 4:32am Aug 18, 2010 4:32am
Good on you

Quoting SerpentDove
I dunno, set up was good for me, I went flat a while ago, leaving much moolah on the table. I recovered yesterdays loss, which was sizable and made some coin to boot, now I'm taking a break before I do something stupid with my regained confidence.

Only really started focusing on this pair this month. I've made more cable trades in August than I did in the last 4 years combined.
  • #246,473
  • Aug 18, 2010 4:35am Aug 18, 2010 4:35am
Common guys, no need for volatility. GBPUSD and GBPJPY are Going to the Moon.
Better enter now on your Demo if you wanna trade my style.
  • #246,474
  • Aug 18, 2010 4:38am Aug 18, 2010 4:38am
Quoting Scipionz
Respect for your volume call at 1.5500

Take care!
thanks... tick vol not true vol like stocks, I use gtis 200 source feed on esignal give3s a good cross section of the market
Blogging daily now at www.volume.zone
  • #246,475
  • Aug 18, 2010 4:38am Aug 18, 2010 4:38am
Quoting pips stunner
Common guys, no need for volatility. GBPUSD and GBPJPY are Going to the Moon.
Better enter now on your Demo if you wanna trade my style.
LOL, why demo
  • #246,476
  • Aug 18, 2010 4:39am Aug 18, 2010 4:39am
Morning all - here's my h4 chart - I've got it that we're currently bouncing between the upper and lower trend lines. Also coinciding with 38 and 50 fib I've got between 5123 and 5994.

Anyhoo, that's what I'm playing today...
Attached Image
  • #246,477
  • Aug 18, 2010 4:41am Aug 18, 2010 4:41am
Follow my signals and get as pipsy as ever. Good luck to you all. my take profit for GBP USD will be 160.00 while GBPJPY is 140.00.SL 200 pips. Only for experienced traders.
  • #246,478
  • Aug 18, 2010 4:45am Aug 18, 2010 4:45am
Hi Chow Clown

Can I ask - did you enter that trade on the Support line, or when it passed the previous high?

Thanks!
  • #246,479
  • Aug 18, 2010 4:46am Aug 18, 2010 4:46am
gbpusd is on the way of extended triangle
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1h waves.gif Size: 42 KB
  • #246,480
  • Aug 18, 2010 4:47am Aug 18, 2010 4:47am
I prepared this chart earlier today, but got busy and didn't have time to post.

http://www.shawntom.com/charts/100817_gbpusd_h4.jpg

Was looking like a perfect Gartley setup to me and I figured we needed to test the bottom of the ascending channel again(which we have broken back in to) if we are going down any further. Anything is possible, but my bias is for a run on the top of the channel.

http://www.shawntom.com/charts/100818_gbpusd_h4.gif

The price action at S1 and LTL, combined with the volume spike on M5, told me get ready to rumble. Nice quick trip from S1 to R1. It is nice when you can increase your account by 17% in under an hour while risking only 2%!

A deep retracement is not out of the question (nor is a continuation south), but I'll be waiting for clear evidence of sellers, before I try anything but scalp shorts.

Was there a news event to blame this on?
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