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Cable Update (GBPUSD)

  • #247,201
  • Aug 19, 2010 10:25am Aug 19, 2010 10:25am
Quoting GlobalMacro
IMO the bigger broadening bottom (chart posted earlier) is a reversal of weeklong bear move.... the smaller broadening top we're in now is a continuation pattern of the reversal move (bull run) which started earlier today from 1.5509...

I wholeheartedly agree with you.
  • #247,202
  • Aug 19, 2010 10:30am Aug 19, 2010 10:30am
Quoting cloggie
You can see how the 50 retrace of the broadside is playing out now and how it is key to the continuation to the opposite side.

The 50 within the top gave way so 5670-ish is next. It will follow the fib lines so 5651, 5659, 5672, each level will form its own SR within the top. They are so narrow that they are really not tradeable for us guys with the spreads/commisions we pay but they are fun to watch and see play out while we stay flat waiting for the bigger levels to tell us what is happening. Unless of course you are pawpaw or 4x and have already jumped on that last rejection of the top without taking your profit at the bottom of the pattern and are now holding your breath to see where it goes....
  • #247,203
  • Aug 19, 2010 10:32am Aug 19, 2010 10:32am
selling every hit of H1 gets me lollipop money

http://img831.imageshack.us/img831/6530/43239808.gif
  • #247,204
  • Aug 19, 2010 10:34am Aug 19, 2010 10:34am
Quoting forexlion
selling every hit of H1 gets me lollipop money

http://img831.imageshack.us/img831/6530/43239808.gif
so you in short lion? It looks soo tempting but just doesn't want to go!!!

Sorry, see you scalping!

I'm off boys... Thanks for the help Cloggs.

Will check in in a couple of hours to see what the biaaaatch did.
@pawpaw1000 on Twitter
  • #247,205
  • Aug 19, 2010 10:36am Aug 19, 2010 10:36am
Quoting cloggie
It will follow the fib lines so 5651, 5659, 5672, each level will form its own SR within the top.
5651 formed a mini resistance, and it is now back at 5638, the next fib below the 50. If this holds, 5645 and 5651 are next again. Once it gets back to 5651, 5659 is the next one.

I am going to have another cuppa again while this one plays the fiddle with the fibs here.
  • #247,206
  • Aug 19, 2010 10:36am Aug 19, 2010 10:36am
H1 to M1 is lollipop zone
  • #247,207
  • Aug 19, 2010 10:37am Aug 19, 2010 10:37am
Quoting cloggie
I wholeheartedly agree with you.


the only thing that needs to play along now is momentum...so far she being a real lady...
Hear the music before the song is over ...
  • #247,208
  • Aug 19, 2010 10:38am Aug 19, 2010 10:38am
Quoting pawpaw1000
so you in short lion? It looks soo tempting but just doesn't want to go!!!

Sorry, see you scalping!

I'm off boys... Thanks for the help Cloggs.

Will check in in a couple of hours to see what the biaaaatch did.
just collecting 2 pips to 20 pips of lollipop money
  • #247,209
  • Aug 19, 2010 10:38am Aug 19, 2010 10:38am
Quoting GlobalMacro


the only thing that needs to play along now is momentum...so far she being a real lady...

Cable is so predictable if you know what you are looking at. And yes all we need for a longer time trade is a momentum or rejection bar on either the top or bottom, anticipating either is just gambling in my book. The only tradeable setups are the scalps playing the fibs within.
  • #247,210
  • Aug 19, 2010 10:40am Aug 19, 2010 10:40am
Quoting cloggie
Cable is so predictable if you know what you are looking at. And yes all we need for a longer time trade is a momentum or rejection bar on either the top or bottom, anticipating either is just gambling in my book. The only tradeable setups are the scalps playing the fibs within.
i agree
  • #247,211
  • Aug 19, 2010 10:44am Aug 19, 2010 10:44am
when trading for lollipop money i always enter a lil above h1 and close on m1+spread

so, limit orders make the lollipop sweeter
  • #247,212
  • Aug 19, 2010 10:44am Aug 19, 2010 10:44am
I think that's it for the day. I thought pattern right now is a proper bear flag with a tail a the bottom side.

Have a good day everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: bearflag.gif Size: 12 KB
  • #247,213
  • Aug 19, 2010 10:46am Aug 19, 2010 10:46am
Quoting cloggie
Cable is so predictable if you know what you are looking at. And yes all we need for a longer time trade is a momentum or rejection bar on either the top or bottom, anticipating either is just gambling in my book. The only tradeable setups are the scalps playing the fibs within.
fibre dropping like a stone! sold with s/l at 14pips... 1.5644 got in...
@pawpaw1000 on Twitter
  • #247,214
  • Aug 19, 2010 10:47am Aug 19, 2010 10:47am
Quoting pawpaw1000
fibre dropping like a stone! sold with s/l at 14pips... 1.5644 got in...
s/l to -4...

let's see...

EDIT: NOW AT BE>>>
@pawpaw1000 on Twitter
  • #247,215
  • Aug 19, 2010 10:51am Aug 19, 2010 10:51am
Quoting cloggie
... Unless of course you are pawpaw or 4x and have already jumped on that last rejection of the top without taking your profit at the bottom of the pattern and are now holding your breath to see where it goes....
Breathing normally at the moment
******************* I'd rather make money than be right.
  • #247,216
  • Aug 19, 2010 10:52am Aug 19, 2010 10:52am
i think eurusd dump should be contained near m5 line

lets see
  • #247,217
  • Aug 19, 2010 10:52am Aug 19, 2010 10:52am
Quoting 4xStar
Breathing normally at the moment
lol, your alrite , I sold enough the last time up there to move it this far for us lol
  • #247,218
  • Aug 19, 2010 10:53am Aug 19, 2010 10:53am
Quoting 4xStar
Breathing normally at the moment
MISSED THAT ONE! haha... up 38 now but I did get caught once at the top so cloggs was right... But he also got into that one and got out +2

EDIT: Targeting 5550 but will move s/l as we go! this is a weird move, good thing I had a cigi before leaving ;-)
@pawpaw1000 on Twitter
  • #247,219
  • Aug 19, 2010 10:56am Aug 19, 2010 10:56am
typical cable, repeating the same pattern for the second day in a row

should bounce off h4 for another joy ride tomorrow

cable fun rides

http://img52.imageshack.us/img52/6926/46279055.gif
  • #247,220
  • Edited 11:23am Aug 19, 2010 10:56am | Edited 11:23am
Quoting GlobalMacro
There is a Broadening Bottom forming on M30

Bearish assaults failed time and time again to break the floor below 1.5560

And of course strong retail sales numbers

This is a compelling setup for me to take a long position

I'm buying @ 1.5590
LOL...

Speaking of momentum...this is what you get for calling her a lady...

I'm out at 1.5615 +ve 25 pips
Hear the music before the song is over ...
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