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Cable Update (GBPUSD)

  • #246,701
  • Aug 18, 2010 9:36am Aug 18, 2010 9:36am
If 1h candle closes below 1.5600. Would you guys agree that thats a sign of the pair heading down?
  • #246,702
  • Aug 18, 2010 9:38am Aug 18, 2010 9:38am
Just another whipsaw... Lucky me I got my short closed a little while ago @ 1.55900

If I see the chart in 4H TF, the bullish engulfing pattern is (I don't know) being ignored by most of the traders today... The pair just can't resist to go down deep near where it bounced in earlier 4H...

If the pair remain ranging, I say we'll get nowhere far away from today's level (hi-lo)... Hope it can break free or just resume the downtrend anywhere soon..

Hope none of you guys got whipped by it since the pattern (bullish engulfing) confused me a little while ago, but thanks to cloggie, I traded following the trend channel and survived today's trade; cloggie, you are great, many thanks for you...
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  • #246,703
  • Aug 18, 2010 9:44am Aug 18, 2010 9:44am
Hi all,
She still inside range. Go for long as worm say if close above Weekly, else break Yellow and Orange , she go for montly
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  • #246,704
  • Aug 18, 2010 9:48am Aug 18, 2010 9:48am
Quoting HowieTrader
Just another whipsaw... Lucky me I got my short closed a little while ago @ 1.55900

If I see the chart in 4H TF, the bullish engulfing pattern is (I don't know) being ignored by most of the traders today... The pair just can't resist to go down deep near where it bounced in earlier 4H...

If the pair remain ranging, I say we'll get nowhere far away from today's level (hi-lo)... Hope it can break free or just resume the downtrend anywhere soon..

Hope none of you guys got whipped by it since the pattern (bullish engulfing) confused me a little...
Don`t you think the candel in the 4h chart are pretty bearish? Two long shadows to the top, and failed the 38.2fib.
  • #246,705
  • Aug 18, 2010 9:53am Aug 18, 2010 9:53am
Hello, longterm long but scalping short here. I think 1.5510 is a much safer target here.

Jim

Quoting ubaidahsan
i am with you bro...just one question bro you why You set your Target 5420 since its a S1 weekly?? what is a reason to set that target?

thanks

Ub
  • #246,706
  • Aug 18, 2010 9:54am Aug 18, 2010 9:54am
Heard in news that one of the biggest investors are leaving the market, and returning the money he has in the market to customers.
Because he have had lower profit last years then he wanted to.

Which is over $ 10b. This must be news that will strenghten the dollar? Since the stock now most likely will go down?

Think this will cause some more fear amog investors, and drive stocks down/ strenghten the dollar vs GBP ?
  • #246,707
  • Aug 18, 2010 9:58am Aug 18, 2010 9:58am
Quoting vilas
Hi, Oxford, Down with Flu - can't concentrate - so out of mkt.

Funny mkt no ? Not Up - not down.

You will get your Pips on short but be careful - she could turn up - very uncertain steps for a Belly-Dancer !
belly dancer
  • #246,708
  • Aug 18, 2010 9:59am Aug 18, 2010 9:59am
This is a pivot bar that confirms the short contnuation. Something I learned from an older expierienced trader.

Pivot Bar Short: In the middle of a trend a bar that forms with a higher low than the candes on either side.

Pivot Bar Long: In the middle of a trend a bar that forms with a higher high than the candes on either side.

You short on the break of the first low.


Jim


Quoting cloggie
Doji/ inverted hammer followed by 3 inside down. The momentum bar confirmed the clean break, of you go.
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  • #246,709
  • Aug 18, 2010 10:06am Aug 18, 2010 10:06am
Quoting cloggie
Doji/ inverted hammer followed by 3 inside down. The momentum bar confirmed the clean break, of you go.
sorry cloggs, googled it but can't find... Not quickly anyways. Could someone please explain which one was the momentum bar there? I'm guessing the 3rd one in the box?
@pawpaw1000 on Twitter
  • #246,710
  • Aug 18, 2010 10:07am Aug 18, 2010 10:07am
The fall from current intraday highs, being that previous 1hr/4hr near-term obvious fractal swing hi zone (= previous imbalance of supply/demand=resistance=potential resistance) was well signalled by the bearish regular divergence set-ups and great pa triggers to 15min...shown below...price is now finding some demand at the 61.8% of the intraday up move 5497-5688.

G/L

http://www.easy-upload.net/fichiers/...1081817633.gif
ex member
  • #246,711
  • Aug 18, 2010 10:09am Aug 18, 2010 10:09am
Quoting Nene
This is a pivot bar that confirms the short contnuation. Something I learned from an older expierienced trader.

Pivot Bar Short: In the middle of a trend a bar that forms with a higher low than the candes on either side.

Pivot Bar Long: In the middle of a trend a bar that forms with a higher high than the candes on either side.

You short on the break of the first low.


Jim
will it be lower high than on either sides for pivot bar long? i'm confused
  • #246,712
  • Aug 18, 2010 10:10am Aug 18, 2010 10:10am
Quoting pips stunner
Yes you can follow bullshit or the truth.. its our decision to decide. After donating to brokers you will look for me. guess what? i'm still here.
So lets see how long my 5 minutes of fame will last?

So help me God.
Just back reading through the thread.... dude are you like 14 years old?
  • #246,713
  • Aug 18, 2010 10:10am Aug 18, 2010 10:10am
Quoting Sunsi
Heard in news that one of the biggest investors are leaving the market, and returning the money he has in the market to customers.
Because he have had lower profit last years then he wanted to.

Which is over $ 10b. This must be news that will strenghten the dollar? Since the stock now most likely will go down?

Think this will cause some more fear amog investors, and drive stocks down/ strenghten the dollar vs GBP ?
http://www.bloomberg.com/news/2010-0...s-tougher.html
  • #246,714
  • Aug 18, 2010 10:13am Aug 18, 2010 10:13am
Quoting SerpentDove
Just back reading through the thread.... dude are you like 14 years old?
he loves donating to broker
Verily, in every difficulties there is relief
  • #246,715
  • Aug 18, 2010 10:17am Aug 18, 2010 10:17am
all this analysis and we could have just gone long off daily S1 or short off daily R1 with a 25 pip stop and nice little r:r. Hindsight and all that!
  • #246,716
  • Aug 18, 2010 10:17am Aug 18, 2010 10:17am
Does this help. Larger time frames have more tendency to follow thru. You want them to be the same color but not always.

Jim

Quoting ohan
will it be lower high than on either sides for pivot bar long? i'm confused
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  • #246,717
  • Aug 18, 2010 10:18am Aug 18, 2010 10:18am
Quoting pawpaw1000
sorry cloggs, googled it but can't find... Not quickly anyways. Could someone please explain which one was the momentum bar there? I'm guessing the 3rd one in the box?
A momentum bar is twice the previous one, and 50% of it will act as S/R.


Hope this help!
"Flip that coin!"
  • #246,718
  • Aug 18, 2010 10:22am Aug 18, 2010 10:22am
Quoting Scipionz
A momentum bar is twice the previous one, and 50% of it will act as S/R.


Hope this help!
aah thanks soo much brother! thats great! do you include the wicks, I guess not seeing as it is a momentum bar we should not be having too much wick anyways

Thanks again!
@pawpaw1000 on Twitter
  • #246,719
  • Aug 18, 2010 10:22am Aug 18, 2010 10:22am
Once the price breaks that higher high it is automatially another high. Dont try to read a lot into this as it is as easy as it looks

Quoting ohan
will it be lower high than on either sides for pivot bar long? i'm confused
  • #246,720
  • Aug 18, 2010 10:26am Aug 18, 2010 10:26am
Quoting primzvicious
it seems that consolidation over

sell @665 sl @720
closed half here, rest set sl @BE
Verily, in every difficulties there is relief
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