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Cable Update (GBPUSD)

  • #248,661
  • Aug 25, 2010 11:12am Aug 25, 2010 11:12am
Quoting joemiami
My mistake, I admit it...definite ascending triangle, but i caught earlier from 5428, so far so good.....

I love these claims, posts and calls after the fact:

http://www.forexfactory.com/showpost...stcount=248641
Quote
yes, lets see if that line holds to short again...
http://www.forexfactory.com/showpost...stcount=248648
Quote
short at 5440....lets play the range game everybody!!!


put on your 15min chart hats on and lets make some easy $$ http://cdn.forexfactory.com/images/s...m/thumbsup.gif
http://www.forexfactory.com/showpost...stcount=248651

Quote
I see new lows today http://cdn.forexfactory.com/images/s...yim/rockon.gif Magix, you ready for the avalanche? http://cdn.forexfactory.com/images/s.../yim/party.gif
So let me get this straight, you want us to ignore all the short calls you made today and now take you for your word that you mistakenly posted all the calls here and have gone long hours before posting your last post.

You really do contribute to the debate here, for about a week just about every call you have made has been against the intraday trend and you claim you manage money for a living?


Quote
No offense to my acct at all since its not micro., I actually trade FX futures and S&P500 mini futures thru CME for me and my clients.

http://www.forexfactory.com/showpost...stcount=248125

So you are either a troll or a commercial member spamming the thread here trolling for business.
  • #248,662
  • Aug 25, 2010 11:18am Aug 25, 2010 11:18am
got a w on m5 and am super tempted to short...
@pawpaw1000 on Twitter
  • #248,663
  • Aug 25, 2010 11:19am Aug 25, 2010 11:19am
I am buying cable here with a April 15 high of 1.5522 as target. Should cable break that then it will be smooth sailing to 1.5997

else cable will fall back to 1.5380
  • #248,664
  • Aug 25, 2010 11:20am Aug 25, 2010 11:20am
cable is still bearish. bounce off the monthly pvp had been capped by the W1 s/r & the cluster resistance @5485.
I don't see any reason to be building long positions till at least the D1 produces a reversal pattern.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gud.gif Size: 26 KB
Thank You
  • #248,665
  • Aug 25, 2010 11:20am Aug 25, 2010 11:20am
Quoting pawpaw1000
got a w on m5 and am super tempted to short...

But look how the M is slanted on the 5 with higher lows, this could just be a minor retrace for a further move up. Just food for thought. If 5442 gives your short may have a chance, if 5472 goes your short has no hope in heaven. Kinda mid range here.
  • #248,666
  • Aug 25, 2010 11:21am Aug 25, 2010 11:21am
Quoting hindustani
I am buying cable here with a April 15 high of 1.5522 as target. Should cable break that then it will be smooth sailing to 1.5997

else cable will fall back to 1.5380
chances of cable falling back to 1.5380 are stronger though.
  • #248,667
  • Aug 25, 2010 11:21am Aug 25, 2010 11:21am
Quoting USD-Bear
You are tempted to do that by looking at the lower TF's.
Most people would be well advised to use TF's below H1 only for timing and TF's above H1 for decision making.........
Bullshit!

You are the one to define your trading, and a trend can be found on everything from a tic chart right up the tf's.

Understanding the shorter time frames and how they work will give you a grand idea of how to trade the longer and vice versa.

Some swear by the H4 or the daily charts, some work off the hourly...I can find what I need on a 5m chart and trade it off the 1m.

Again, it all depends on what and how you see things, the length of time you choose to be in a trade and what you consider profit.

Generalities like this confuses people...

Specially coming from a guy who waited exactly 600 pips off top to short support....

Pshhhhhhhhhhhhhh.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,668
  • Aug 25, 2010 11:23am Aug 25, 2010 11:23am
Quoting cloggie
But look how the M is slanted on the 5 with higher lows, this could just be a minor retrace for a further move up. Just food for thought.
know what cloggs, just got back and have been looking for a reason to short and thats about the best I could come up with

Not trading it yet, waiting for m15 25 to get crossed

Although, M15 hanging man with two long wicks on either side, pretty bearish but still waiting for neck to be broken...
@pawpaw1000 on Twitter
  • #248,669
  • Aug 25, 2010 11:23am Aug 25, 2010 11:23am
Quoting cloggie
But look how the M is slanted on the 5 with higher lows, this could just be a minor retrace for a further move up. Just food for thought. If 5442 gives your short may have a chance, if 5472 goes your short has no hope in heaven. Kinda mid range here.
if we could just get a good poke above last weeks low we may make some headway , pretty hard going here , just one nice pop would help lol
  • #248,670
  • Aug 25, 2010 11:24am Aug 25, 2010 11:24am
Quoting hindustani
chances of cable falling back to 1.5380 are stronger though.
my long entry is at 1.54656, tp is 1.55200, and no sl, not needed for me.
  • #248,671
  • Aug 25, 2010 11:25am Aug 25, 2010 11:25am
Quoting digger1
if we could just get a good poke above last weeks low we may make some headway , pretty hard going here , just one nice pop would help lol

That's why I told pawpaw to be careful, we are mid range here. A poke up like you said would get us through the weekly and could be the start of a good little runner, a poke down will get us back in the day's range. This moment of time is not exactly a good point to consider a trade in either direction with a high chance of success.
  • #248,672
  • Aug 25, 2010 11:27am Aug 25, 2010 11:27am
Quoting cloggie
I love these claims, posts and calls after the fact:

http://www.forexfactory.com/showpost...stcount=248641
http://www.forexfactory.com/showpost...stcount=248648
http://www.forexfactory.com/showpost...stcount=248651

So let me get this straight, you want us to ignore all the short calls you made today and now take you for your word that you mistakenly posted all the calls here and have gone long hours before posting your last post.

You really do contribute to the...
Verily, in every difficulties there is relief
  • #248,673
  • Aug 25, 2010 11:30am Aug 25, 2010 11:30am
Quoting fxoxford
still long at 1.5390, t/p 1.5715, s/l 1.5300. good luck to all
my view is till the same just don't know how long i will hold this trade, there is realy no signs trend will continue up, it's need to break 1.5515 for a clear long, any way good luck to all
  • #248,674
  • Aug 25, 2010 11:33am Aug 25, 2010 11:33am
I'm short, but move up.... lost 2$
Now buy long... -2,4....
Ehhehhh. This is not my day....
  • #248,675
  • Aug 25, 2010 11:33am Aug 25, 2010 11:33am
Quoting fxoxford
my view is till the same just don't know how long i will hold this trade, there is realy no signs trend will continue up, it's need to break 1.5515 for a clear long, any way good luck to all

FX, I must admit without your screenshots of your account your post are actually making sense and contributing to the debate here. If I haven't done so, welcome to the asylum. Next is posting a few charts here......
  • #248,676
  • Aug 25, 2010 11:34am Aug 25, 2010 11:34am
I have to say that the pair has breached my 4H TF downtrend channel. It is still open near that upper boundary but no sign of bear lately..

Still flat on cable, no position taken yet..

Anyway, I can shout a sentiment for now.. I'll say, prepare to go long, should it keep outside the channel.. Otherwise, easy shorts might be on the way...
Attached Image
  • #248,677
  • Aug 25, 2010 11:34am Aug 25, 2010 11:34am
Quoting fxoxford
my view is till the same just don't know how long i will hold this trade, there is realy no signs trend will continue up, it's need to break 1.5515 for a clear long, any way good luck to all
if she broke 600 it might test 850
Verily, in every difficulties there is relief
  • #248,678
  • Aug 25, 2010 11:35am Aug 25, 2010 11:35am
Quoting digger1
if we could just get a good poke above last weeks low we may make some headway , pretty hard going here , just one nice pop would help lol
I didn't even see that we are at last weeks low... darn, thanks for the warning guys! just saw PA making very indecisive candles and that we were high up in the range and thought about shorting...

Good thing I've stopped knee jerking! would've definately put on a trade there as soon as I saw where we were!

EDIT: I dont see us breaking up on this low volume! gonna go sideways and then down if anywhere!
@pawpaw1000 on Twitter
  • #248,679
  • Aug 25, 2010 11:36am Aug 25, 2010 11:36am
Quoting hindustani
my long entry is at 1.54656, tp is 1.55200, and no sl, not needed for me.
I've got a lot of resistance in these areas...historical SR line @ 5472, the 38.2% fib retrace from weekly high of 5618 and low of 5371 is at 5466 (which has held firm a few this week) and the Daily R1 is at 5481.

You are a braver man than me to go in without an SL. Still, each to their own. If you make it through unscathed you deserve the pips!
  • #248,680
  • Aug 25, 2010 11:40am Aug 25, 2010 11:40am
Quoting HowieTrader
I have to say that the pair has breached my 4H TF downtrend channel. It is still open near that upper boundary but no sign of bear lately..

Still flat on cable, no position taken yet..

Anyway, I can shout a sentiment for now.. I'll say, prepare to go long, should it keep outside the channel.. Otherwise, easy shorts might be on the way...
the h4 is forming a bearish pennant. Only a breach of 5525 will invalidate the pattern. wanna be careful with the longs unless doing it for some quickies.
Thank You
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