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Cable Update (GBPUSD)

  • #248,421
  • Aug 24, 2010 4:17pm Aug 24, 2010 4:17pm
Quoting bbakker
Sellers coming into a demand area is not the place to be coming in
Maybe I should rephrase that... as a seller coming into a demand area, it is not the place to open a short position.
  • #248,422
  • Aug 24, 2010 4:18pm Aug 24, 2010 4:18pm
Quoting cloggie
You'll have one more test here, am doing well posting a bit less here trading a bit more.
Jip, just got tp for 70 pips... Great nights work

see you are a bit quiet! didn't even post to give me some confidence knowing you were in with me

I got in exactly at the turn, with the triple top! great...
@pawpaw1000 on Twitter
  • #248,423
  • Aug 24, 2010 4:19pm Aug 24, 2010 4:19pm
Quoting pawpaw1000
Jip, just got tp for 70 pips... Great nights work

see you are a bit quiet! didn't even post to give me some confidence knowing you were in with me

I got in exactly at the turn, with the triple top! great...

Yup look at that M15, she was bout to test 54 again. There is some more left to the downside, just not going to trade this now with just about everything closed now.

See you in the morning.
  • #248,424
  • Aug 24, 2010 4:21pm Aug 24, 2010 4:21pm
Quoting cloggie
You'll have one more test here, am doing well posting a bit less here trading a bit more.
I know exactly where you are coming from my friend lol
  • #248,425
  • Aug 24, 2010 4:23pm Aug 24, 2010 4:23pm
Quoting cloggie
You'll have one more test here, am doing well posting a bit less here trading a bit more.
Chopping the wood for the next ride down...
  • #248,426
  • Aug 24, 2010 4:23pm Aug 24, 2010 4:23pm
Quoting digger1
I know exactly where you are coming from my friend lol

Yup two more weeks and normal service resumes, finally this summer trading is coming to an end.
  • #248,427
  • Aug 24, 2010 4:51pm Aug 24, 2010 4:51pm
I can't post a chart right now so you'll have to take my word for it, but despite all the talk of Dollar getting crushed, the DX looks set to finish the day pretty much where it started.

Today has been all about Yen and Swissy and even Swissy's rise against the Dollar was directly attributed to the bad housing data.

So if we deduce that today's trade was all about the Yen, the question is just how long will traders be allowed to pile into it.?
  • #248,428
  • Aug 24, 2010 5:17pm Aug 24, 2010 5:17pm
Quoting ukdaytrader
I can't post a chart right now so you'll have to take my word for it, but despite all the talk of Dollar getting crushed, the DX looks set to finish the day pretty much where it started.

Today has been all about Yen and Swissy and even Swissy's rise against the Dollar was directly attributed to the bad housing data.

So if we deduce that today's trade was all about the Yen, the question is just how long will traders be allowed to pile into it.?
Right, no crushing yet, but 83.6 imo critical level (it fooled me once today)
I do think if it doesn't break soon we might have seen a bottom on GU

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #248,429
  • Aug 24, 2010 5:58pm Aug 24, 2010 5:58pm
Quoting ams
Hi there puma1, I want to ask you question on P&F charts, indicator you have developed.

When I look at it on hourly chart it seems different to candle,bar or any chart for that matter...how the box (X , O ) is calculated? I mean what value it represents in terms of pips.


ta
ams
Hey ams, sorry i have missed your comment, this is how X/O is calculated: http://www.forexpnf.info/wp-content/...xplanation.png
If you want to see true candle view on the Cute PnF indicator's chart window, go to the chart properties>colors and set the "Bar UP" "Bar Down" colors, then you will see candlestick's High(upper shadow) and Low(lower shadow) and you will figure out how X's and O's are calculated and plotted.
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  • #248,430
  • Aug 24, 2010 6:04pm Aug 24, 2010 6:04pm
Quoting ams
Hi there puma1, I want to ask you question on P&F charts, indicator you have developed.

When I look at it on hourly chart it seems different to candle,bar or any chart for that matter...how the box (X , O ) is calculated? I mean what value it represents in terms of pips.


ta
ams
hey, answer is here: http://www.forexfactory.com/showpost...stcount=248437
  • #248,431
  • Edited 6:37pm Aug 24, 2010 6:05pm | Edited 6:37pm
Quoting USD-Bear
Right, no crushing yet, but 83.6 imo critical level (it fooled me once today)
I do think if it doesn't break soon we might have seen a bottom on GU

Attachment
Same. This is 23.6% of last leg down, if it can break it, USDX will aim back down.
But all macro is so bad now that it's really a guess.

I was on the take that 1.5420 area was the reversal zone for GU after 600 pips and more on a 900 pips legs (so around 60%).
But, as said, macro ain't helping and we need to keep eyes open on 1.5320 now.
Even more whit that NY close....

Areas is logicly good, but momentum and macro not.
78.6% is 1.5308, we made half road now in between 61.8 and 78.6.

This is picky situation... I'm on my edge and ... FLAT!
I am up 20% this month and I wont do stupid guess 1 week from the end. Hehe!


Take care bud!
"Flip that coin!"
  • #248,432
  • Aug 24, 2010 8:20pm Aug 24, 2010 8:20pm
Quoting digger1
rollover at 1.5393 , was also todays new york session open price would expect a good bounce from here, todays pivot at 1.5427 ( new days pivot) will be watching that level with interst
Took profit at daily pivot, just happens to coincide with the 5m 200EMA.

Not a terrible little trade. Sure beats the heck outa getting stopped out for a -20...would have to change my name to USD-Magix. Buwahahahahahahahahah.

Out now...gunna check see what Frankie n London got to say....

Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,433
  • Aug 24, 2010 8:22pm Aug 24, 2010 8:22pm
Quoting Magix
Took profit at daily pivot, just happens to coincide with the 5m 200EMA.

Not a terrible little trade. Sure beats the heck outa getting stopped out for a -20...would have to change my name to USD-Magix. Buwahahahahahahahahah.
yes done the same , took most of my profit lol, rest stops a pip in the money and c what happens , stops for previous shts was just above so both ways covered atm lol
  • #248,434
  • Aug 24, 2010 8:29pm Aug 24, 2010 8:29pm
Quoting digger1
yes done the same , took most of my profit lol, rest a pip in the money and c what happens , stops for previous shts was just above so both ways covered atm lol
Still a little more meat on the table possible...I had a good day, I can wait n see where we go.

Zone on chart not really covered...

Below the 5m 200, might not see here until London/NY cross...Unless we of course lose support on the daily.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,435
  • Aug 24, 2010 8:34pm Aug 24, 2010 8:34pm
Quoting Magix
Still a little more meat on the table possible...I had a good day, I can wait n see where we go.

Zone on chart not really covered...

Below the 5m 200, might not see here until London/NY cross...Unless we of course lose support on the daily.
yes seems tokyo and china in a buying mood so far today so very possible
  • #248,436
  • Aug 24, 2010 8:38pm Aug 24, 2010 8:38pm
Quoting Magix
Still a little more meat on the table possible...I had a good day, I can wait n see where we go.

Zone on chart not really covered...

Below the 5m 200, might not see here until London/NY cross...Unless we of course lose support on the daily.
magix, this blue zone on your chart is it indi or your drawings? if indi can you post it please?
  • #248,437
  • Aug 24, 2010 8:52pm Aug 24, 2010 8:52pm
Quoting tommy j
magix, this blue zone on your chart is it indi or your drawings? if indi can you post it please?
goto insert-->shapes->rectangle, take your cursor wherever you wanna draw on the chart.....and it's on mt4
  • #248,438
  • Aug 24, 2010 8:52pm Aug 24, 2010 8:52pm
Quoting tommy j
magix, this blue zone on your chart is it indi or your drawings? if indi can you post it please?
The blue boxes is just observation and art work Tommy....

No indy on that one, sorry mango.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,439
  • Aug 24, 2010 8:56pm Aug 24, 2010 8:56pm
Quoting Magix
The blue boxes is just observation and art work Tommy....

No indy on that one, sorry mango.
thank you, just making sure
  • #248,440
  • Aug 24, 2010 9:58pm Aug 24, 2010 9:58pm
.2680 - .2693 looks possible.
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