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Cable Update (GBPUSD)

  • #248,981
  • Aug 26, 2010 9:24am Aug 26, 2010 9:24am
A nice catch for NY open, bounce off the 5M 200 for a buy back to top.

Weeeeeeeeeeeeeeeeeeeeeee.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,982
  • Aug 26, 2010 9:25am Aug 26, 2010 9:25am
Quoting Magix
A nice catch for NY open, bounce off the 5M 200 for a buy back to top.

Weeeeeeeeeeeeeeeeeeeeeee.
Got to love them plays
  • #248,983
  • Aug 26, 2010 9:26am Aug 26, 2010 9:26am
closed my long and tempted to reverse short at this previous high but I decided against it. GBP seems strong today or rather dollar is taking a beating, so hopefully there will be a small sell-off at this high to get a long re-entry at a favourable price. 1.5540 ish would be nice.

I might be a bit optimistic here but I think we may retrace towards 1.5750 or 1.5815 before continuation of a deeper downmove. A HH on 4h would certainly keep me in longs for the short-term.
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  • #248,984
  • Aug 26, 2010 9:29am Aug 26, 2010 9:29am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey TT,

We seems to have some unfinished business @ 546xxx....don't know when Magix will come online he is good at this book keeping business


Quoting TauTrader
Good day to you,

Going nowhere slowly. GU will probably close in the 1.5530 / 1.5535 region today.

Current support offered by Monday's close @ 1.5511 in confluence with Tuesday's high @ 1.5512. Breaking this will take you to 1.5492 ( 50% line of this week)

Trade well and do not get a bloody nose http://a.imageshack.us/img687/3641/beatupy.gif

Regards
  • #248,985
  • Aug 26, 2010 9:29am Aug 26, 2010 9:29am
Who let the bulls out?? Yeah.. Nice bullish movement today... Will wait for next entry signal for re-entry..
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  • #248,986
  • Aug 26, 2010 9:30am Aug 26, 2010 9:30am
Quoting digger1
Hey TT , Have to respectively disagree lol, Had some big time divergence on the macd and have popped above the averages on the chart that represent the macd , same thing happened on the hourly yesterday and we got the big push to these levels , last weeks high area is starting to look pretty decent lol, just had this little flag pattern on the 4 hour, will see what happens, no time table tho lol cheers and good tradeing to you my friend Attachment
Good day to you,

I was wrong in terms of going nowhere slowly... I have rewarded myself accordingly....
Attached Image
  • #248,987
  • Aug 26, 2010 9:31am Aug 26, 2010 9:31am
Quoting digger1
Got to love them plays
The hourly and H4 still hold a negative cross, so a spike down could still trigger to the downside....but as far as the day goes, a little profit here and watch for the close of London might generate a few more sheckles and a positive cross on the hour.

Great week.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,988
  • Aug 26, 2010 9:33am Aug 26, 2010 9:33am
Quoting TauTrader
Good day to you,

I was wrong in terms of going nowhere slowly... I have rewarded myself accordingly....
lol, dont feel like thye lone ranger ha ha , usually when I post a longer term set up it goes completely flat
  • #248,989
  • Aug 26, 2010 9:42am Aug 26, 2010 9:42am
Quoting Magix
The hourly and H4 still hold a negative cross, so a spike down could still trigger to the downside....but as far as the day goes, a little profit here and watch for the close of London might generate a few more sheckles and a positive cross on the hour.

Great week.
yes indeed my friend
  • #248,990
  • Aug 26, 2010 9:44am Aug 26, 2010 9:44am
Quoting digger1
lol, dont feel like thye lone ranger ha ha , usually when I post a longer term set up it goes completely flat
So, I too should prolly just STFU....but...

Given the daily momo and counter 1m trig, target range is here...If we see this spot by London Close, I be loading the shorts!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,991
  • Aug 26, 2010 9:45am Aug 26, 2010 9:45am
Quoting ams
Hey TT,

We seems to have some unfinished business @ 546xxx....don't know when Magix will come online he is good at this book keeping business
Good day to you,

I guess the key to this whole thing is held by 1.5606 ( last weeks open) - if you wanna long. If a base forms here - 1.5682 ( 50% of the month's range) could well be a good target.

But I will not discount anything. 1.5460 area is important - in both directions. The clean break back down a while ago and a continuation would have been too easy. First new longs to be lured in and stops taken.

So there you go - said a lot, but said nothing ( should become a politician)

Trade well!

Regards
  • #248,992
  • Aug 26, 2010 9:54am Aug 26, 2010 9:54am
Quoting Magix
So, I too should prolly just STFU....but...

Given the daily momo and counter 1m trig, target range is here...If we see this spot by London Close, I be loading the shorts!
yes sir , got out of the rest of day trade longs there at the 2 nd pop, didnt short the gbp but did short a few eur as it was at the weekly pivot , wont hold long tho
  • #248,993
  • Aug 26, 2010 10:01am Aug 26, 2010 10:01am
my 100 dollar account continued



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  • #248,994
  • Aug 26, 2010 10:03am Aug 26, 2010 10:03am
Quoting pips stunner
my 100 dollar account continued



Attachment
hmmm , looks a bit shy of what it was before , reckon you must of made a withdrawl
  • #248,995
  • Aug 26, 2010 10:03am Aug 26, 2010 10:03am
1000pips and counting... AS PIPSY AS EVER.
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  • #248,996
  • Aug 26, 2010 10:04am Aug 26, 2010 10:04am
Quoting digger1
yes sir , got out of the rest of day trade longs there at the 2 nd pop, didnt short the gbp but did short a few eur as it was at the weekly pivot , wont hold long tho
Yeah...

Think I am good on the day, will see what rollover has to say about all this...

Best to ya on the rest of yer day dig!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,997
  • Edited 10:18am Aug 26, 2010 10:05am | Edited 10:18am
I did scalp short at a each climb using m1 ( surrounding WP) . Looking for m1/200 (1.5550) or what ever a few green pips !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #248,998
  • Aug 26, 2010 10:06am Aug 26, 2010 10:06am
Quoting Magix
Yeah...

Think I am good on the day, will see what rollover has to say about all this...

Best to ya on the rest of yer day dig!

like wise dude , cu later
  • #248,999
  • Aug 26, 2010 10:06am Aug 26, 2010 10:06am
Last push upwards from 1.5506 presumably attributable to NY waking up with unbridled joy at the fact not everyone in the country is unemployed, the economy is saved, lets buy stocks like there is no tomorrow...

Between yesterdays low and the last upmove we've covered the height of the descending D1 channel, from 1.5374 to 1.5597. Looking at D1, I see 4 of 5 waves complete (it is quite a bit clearer on the EU D1 chart, and GU/EU are basically following the same general pattern at the moment, IMHO). From here I'm looking for a 5th wave down towards the bottom of the channel.

Short at 1.5578, will move stop to BE as soon as she realises this is where she is going TP objective open for now...
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #249,000
  • Aug 26, 2010 10:06am Aug 26, 2010 10:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
hey magix,

I am still trying to figure the balancing books business, needless to say you are champion in it

Where do these boys need to be to balance their books for today.. I reckon 54600 but you are the expert..

ta
ams



Quoting Magix
So, I too should prolly just STFU....but...

Given the daily momo and counter 1m trig, target range is here...If we see this spot by London Close, I be loading the shorts!
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