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Cable Update (GBPUSD)

  • #247,281
  • Aug 19, 2010 11:18am Aug 19, 2010 11:18am
Quoting joemiami
Ok, Im outta here. Hope everyone made some good $$.

See some of you back on here late tonight or tomorrow..
heh, looks like somebody made a profit!
  • #247,282
  • Aug 19, 2010 11:20am Aug 19, 2010 11:20am
anyway man, see ya tomorrow.
  • #247,283
  • Aug 19, 2010 11:26am Aug 19, 2010 11:26am
Quoting cloggie
Because it is so much more fun picking bottoms rather then following a pattern play?
Hey Cloggs,

Howd you do today? I am so excited as it looks like I am going to have my 1st positive week and it is a good one at that...

up 8% for the week and today is the most I've ever made in one day with 145 pips! JIPEE!

Next milestone is a positive month i guess?

BTW anyone got a feel good story of someone learning forex for say 3 years and then being able to go pro? just wondering as this week is the 1st time that I actually believe it to be possible?
@pawpaw1000 on Twitter
  • #247,284
  • Aug 19, 2010 11:27am Aug 19, 2010 11:27am
i still keeping my short op both on EU and GU..
TP 100pips..
SL all 4OP on +BE now..
will keep it till SL or TP..
Revesal Trader
  • #247,285
  • Aug 19, 2010 11:28am Aug 19, 2010 11:28am
Quoting cloggie
I stopped long time ago having a go at traders posting silly setups, it is part of the fabric and entertainment of this thread. I am of now, see you guys at the LO.
i see u r getting affected with my company
  • #247,286
  • Aug 19, 2010 11:30am Aug 19, 2010 11:30am
Quoting digger1
lol, was just really curious , couldnt find a reason my self and thats saying something lol, a 30 pip swing is a missed trade to me lol
i didn't intend to corrupt cloggie, i am innocent .....
  • #247,287
  • Aug 19, 2010 11:34am Aug 19, 2010 11:34am
Quoting forexlion
i didn't intend to corrupt cloggie, i am innocent .....
lol,
  • #247,288
  • Aug 19, 2010 11:34am Aug 19, 2010 11:34am
Quoting forexlion
i didn't intend to corrupt cloggie, i am innocent .....
yea we believe you....................... not
  • #247,289
  • Aug 19, 2010 11:58am Aug 19, 2010 11:58am
Well that's me done for the day except for a short,,,,,,,,, which may have to stay going for a few more hours yet on auto.

Buzzzzzzzzzzing off for today.

Bee good folks and enjoy your PIPS
  • #247,290
  • Aug 19, 2010 11:59am Aug 19, 2010 11:59am
Quoting pawpaw1000
Hey Cloggs,

Howd you do today? I am so excited as it looks like I am going to have my 1st positive week and it is a good one at that...

up 8% for the week and today is the most I've ever made in one day with 145 pips! JIPEE!

Next milestone is a positive month i guess?

BTW anyone got a feel good story of someone learning forex for say 3 years and then being able to go pro? just wondering as this week is the 1st time that I actually believe it to be possible?
Good day to you,

I believe congratulations to be in order. Very well done. Now just repeat what you have achieved, next week again. Focus - apply your mind. Anything is indeed possible.

Stick to your gameplan without fail. And sooner, rather than later:

http://a.imageshack.us/img413/5127/hubbahubba.gif
Congrats!

Regards
  • #247,291
  • Aug 19, 2010 11:59am Aug 19, 2010 11:59am
well traders a couple charts to ponder , choose wisely , 1st the 15 min chart that shows the beating that the hourly 200 has been providing and the 4 hour 200 plus the quaterly high that it keeps popping from , which one gives 1st and leads to a big move , today our daily swing was smaller , do we just end up with a smaller day tommorow or do we break out one way or the other on crazy friday , green pips to all, cheers
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #247,292
  • Aug 19, 2010 12:08pm Aug 19, 2010 12:08pm
Quoting TauTrader
Good day to you,

I believe congratulations to be in order. Very well done. Now just repeat what you have achieved, next week again. Focus - apply your mind. Anything is indeed possible.

Stick to your gameplan without fail. And sooner, rather than later:

http://a.imageshack.us/img413/5127/hubbahubba.gif
Congrats!

Regards
, well said my friend
  • #247,293
  • Aug 19, 2010 12:51pm Aug 19, 2010 12:51pm
sterling broke very important levels today again, if we close the day below 5610, there will be a lot of pressure to the downside...
  • #247,294
  • Edited 12:58pm Aug 19, 2010 12:57pm | Edited 12:58pm
Another high wave candle today, indicating further uncertainty. But i cant see this range lasting much longer, will wait for solid break- preferably more than 120 pips either side and even better a close on the daily at this distance. then wait for retrace(if that happens) and trade as near the breakout level as possible.

alternatively, a false break (again better if this was over 50 pips) of the top or bottom of this channel would probably mean i take the breakout in the other direction.

i will wait and see if the market wants to play ball!

highlander2
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  • #247,295
  • Aug 19, 2010 1:12pm Aug 19, 2010 1:12pm
MAX contracts in the futures market have been traded around this level since January - 1.558 and 1.559... so this is where price has exchanged contracts the most... what has the trend been since January... up and up and up... are long positions being closed and we are going to see a dollar rally, which means shorting the GBP?

Regards,
Vip
  • #247,296
  • Aug 19, 2010 1:13pm Aug 19, 2010 1:13pm
Quoting highlander2
Another high wave candle today, indicating further uncertainty. But i cant see this range lasting much longer, will wait for solid break- preferably more than 120 pips either side and even better a close on the daily at this distance. then wait for retrace(if that happens) and trade as near the breakout level as possible.

alternatively, a false break (again better if this was over 50 pips) of the top or bottom of this channel would probably mean i take the breakout in the other direction.

i will wait and see if the market wants to play ball!...
According to the my chart, the compression is wound up tighter than an 8 day clock currently... I believe your right, it can't stay that way much longer. Now its just a matter of waiting for the break.
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  • #247,297
  • Aug 19, 2010 1:22pm Aug 19, 2010 1:22pm
Yesterday in the Asian session we had a ~100 pip move
off of this 15m EMA compression that was stopped short
by the news in the LDN session causing the price to reverse
drawing all of the EMA's on the 15m and 30m together again
and beyond. They are now reforming nicely on these two
charts for possibly another go if the price will contain the
EMAs in the compression zones (CZ). Now the 15m and
30m are more in sycn than we've seen in several days.

Dr. D.
Attached Images
  • #247,298
  • Aug 19, 2010 1:37pm Aug 19, 2010 1:37pm
Just a little word to let people know that this kinda situation is really dangerous.

That kind of consolidation over high Time Frame (7 days in a row in range) can create such next move that if you don't have a clear plan, this could wipe your account - taking the time to say " SH*T!

So beware or be square guys!
This is no place to gamble.

Later!
"Flip that coin!"
  • #247,299
  • Aug 19, 2010 1:40pm Aug 19, 2010 1:40pm
Obvious movement is towards 1.5510
I'm seeing some relative strength GBP versus USD
Latest up move of USD compared to earlier g/u relations would lead to expect GU around 1.5530 but it currently is 1.5595
USD-Index indicates renewed weakness, that being the case I think the obvious will not presented, we will go north and eventually breaking 1.57
Going long @ 1.5595 SL @ 1.549 and target open
Don't be a hero. Don't have an ego. Always question yourself
  • #247,300
  • Aug 19, 2010 1:41pm Aug 19, 2010 1:41pm
Its all about diciplne (having a plan, respect it) and creates habits (experience).

A pro is nothing more then a consistant winner in/over time.
Witch not mean he's always a winner/every day.

Wish you the best!


Quoting pawpaw1000
Hey Cloggs,
BTW anyone got a feel good story of someone learning forex for say 3 years and then being able to go pro? just wondering as this week is the 1st time that I actually believe it to be possible?
"Flip that coin!"
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