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Cable Update (GBPUSD)

  • #249,161
  • Aug 27, 2010 3:01am Aug 27, 2010 3:01am
PPl you could of profited quick 1:1 long twice, but if you look at eu and gu it is telling almost the same story as last fryday so ppl saying short isnt a bunch of nutters, but lets see wht happens.
GL.
  • #249,162
  • Aug 27, 2010 3:05am Aug 27, 2010 3:05am
Quoting jarnapal
That's right. I'm ready to enter long. Just waiting for retrace.
Mni were talking of 'stronger bids @ 5480/85' 50% of the move up from 5371-5597 and the 100sma onb 1hr were there too...and I had an early bullish divergence based repeating 1min set-up supported by a similar 5min set-up so took it....

Uk data due at 0830am gmt

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 27 KB
ex member
  • #249,163
  • Aug 27, 2010 3:06am Aug 27, 2010 3:06am
Quoting CoffeeDrinke
PPl you could of profited quick 1:1 long twice, but if you look at eu and gu it is telling almost the same story as last fryday so ppl saying short isnt a bunch of nutters, but lets see wht happens.
GL.
Today everything is dependent on news. Better to stay away and wait for a clear picture next week, unless one has a position open.
  • #249,164
  • Aug 27, 2010 3:09am Aug 27, 2010 3:09am
Quoting neo1599
Today everything is dependent on news. Better to stay away and wait for a clear picture next week, unless one has a position open.
This depends on what t/f (s) you operate on, there are plenty of intraday hi-probability trading opps on the lower t/f's.

G/L
ex member
  • #249,165
  • Aug 27, 2010 3:10am Aug 27, 2010 3:10am
Quoting Magic Hat
Hi Jarnapal, good to have you on board. If you don't mind me asking, what level will you look for it to retrace to before you decide on a long? Above the day open or daily high or another level? Thank you
No, the retrace was on 5min chart. I was just asking for better price to have tighter SL.
  • #249,166
  • Aug 27, 2010 3:12am Aug 27, 2010 3:12am
Quoting bbmac
This depends on what t/f (s) you operate on, there are plenty of intraday hi-probability trading opps on the lower t/f's.

G/L
Man and especially with S&R and divergence .
  • #249,167
  • Aug 27, 2010 3:12am Aug 27, 2010 3:12am
Quoting CoffeeDrinke
Everyone here learns so in my eyes everyone is newbs.
I would just like to correct you if i may.
If you zoom out on gu dailt 2times you will see the 1-5 already completed, then we had the a correction to round about 61,8% so it explains the 2,5month up move, we are currently down not because wave 5 but because a possible retrace towards B correction.
I'm not sure we're talking about the same timeframe. I'm looking at the downward wave from 1.5997.

Quoting Precap2
The day Elliot Wave people agree on a wave, that's exactly the day forex market would be redeemed
That's what makes EW so very groovy. It's like some kind of market horoscope, practiced by bearded people who cannot agree. Right now with Aries in the ascending on the H4, there'll be a pervasive sense of undecidedness characterised by wild swings one way and then the other. You will also hook up with an old flame on Tuesday.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #249,168
  • Aug 27, 2010 3:15am Aug 27, 2010 3:15am
The news are not letting it go as it should. It could be whipsawing for the next 15 min.

But who remembers the quote. "Show me the chart and I will show you the news". ? I'm holding my longs
  • #249,169
  • Aug 27, 2010 3:16am Aug 27, 2010 3:16am
Quoting jarnapal
No, the retrace was on 5min chart. I was just asking for better price to have tighter SL.
ok. Cool. Thanks.
  • #249,170
  • Aug 27, 2010 3:19am Aug 27, 2010 3:19am
Quoting autopips


That's what makes EW so very groovy. It's like some kind of market horoscope, practiced by bearded people who cannot agree. Right now with Aries in the ascending on the H4, there'll be a pervasive sense of undecidedness characterised by wild swings one way and then the other. You will also hook up with an old flame on Tuesday.
good one
  • #249,171
  • Aug 27, 2010 3:22am Aug 27, 2010 3:22am
I am as usual looking forward to the 'RED Updates' today.

Not worried which way they go as I trade them only on a 'knee-jerk' for the various charities I support.

Last month, just on these 'knee-jerks' I made well in excess of $1500.00 which of course was distributed during August to the various charities.

Forex is such a good way of helping others...........
  • #249,172
  • Aug 27, 2010 3:23am Aug 27, 2010 3:23am

xxxx


http://i33.tinypic.com/140vggi.png
  • #249,173
  • Aug 27, 2010 3:25am Aug 27, 2010 3:25am
Quoting AdrianHNV
I am as usual looking forward to the 'RED Updates' today.

Not worried which way they go as I trade them only on a 'knee-jerk' for the various charities I support.

Last month, just on these 'knee-jerks' I made well in excess of $1500.00 which of course was distributed during August to the various charities.

Forex is such a good way of helping others...........
Your altruism knows no bounds
  • #249,174
  • Aug 27, 2010 3:25am Aug 27, 2010 3:25am
Quoting USD-Bear
Good morning all,

I find it most intriguing to participate in this forum.
Knowledge can be accumulated by listening to each other and finding your own way.
Through the hidden messages of Magix and some responses (he's on my hidden list) I see he is pursuing his crusade, let him he's just a kid thinking everything what doesn't fit in his fixed trading rules is bad.
A lot of people think they just have to find and implement a good indicator to succeed in this business and off course there always will be indicators which seem to work perfect...
Thanks for the post yesterday. Much appreciated... would have responded sooner, but wasn't able to make it back in time. I appreciate "the Golden Bear's" willingness to share wisdom. So far, psychology had been such a huge key. Trading in the zone, following set rules, and constantly working on it seem to help so far.

Looking to go Long at 5529 - above PP, sl at 5485. Lately UK news has been positive to the upside.
What we obtain too cheap, we esteem too lightly.
  • #249,175
  • Aug 27, 2010 3:27am Aug 27, 2010 3:27am
yes we are both talking about 1,5997.
Ill attach a pic(sorry my resolution is bad).
Ok cross above the highest point, i dont think thts start of one because then 2 would retrace to deep.
So i markd down arrow start of nr1, so down arrows is 1,3,5 and up arrows mark 2,4.
Also nr4 can also not be correction A if you markd the X as nr because the correction wouldnt be deep enough.

So indeed being true to a correction the A correction went deep to 1,5997 so its going to point B now.

But yes EW ppl can not agree with the waves, but they can all agree with the relative 'longer term move' to be expected.
To me EW is only usefull to put the move into perspective.
Hope it helps.
Attached Image (click to enlarge)
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  • #249,176
  • Aug 27, 2010 3:28am Aug 27, 2010 3:28am
Against my own posts that 1.5522 would be a point to watch.

I think this could very well be people closing their shorts before news. Being extra careful with the long.
  • #249,177
  • Aug 27, 2010 3:36am Aug 27, 2010 3:36am
Quoting autopips
I'm not sure we're talking about the same timeframe. I'm looking at the downward wave from 1.5997.



That's what makes EW so very groovy. It's like some kind of market horoscope, practiced by bearded people who cannot agree. Right now with Aries in the ascending on the H4, there'll be a pervasive sense of undecidedness characterised by wild swings one way and then the other. You will also hook up with an old flame on Tuesday.
Even the Zodiac is involved.

Holla with $$
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #249,178
  • Aug 27, 2010 3:37am Aug 27, 2010 3:37am
Uk numbers were "so so" for GBP....but not high enough to stop the prior downward bias, in my opinion.

what do you all think ?

as long as we stay below support...i will hold my short
  • #249,179
  • Aug 27, 2010 3:41am Aug 27, 2010 3:41am
Quoting joemiami
Uk numbers were "so so" for GBP....but not high enough to stop the prior downward bias, in my opinion.

what do you all think ?

as long as we stay below support...i will hold my short
Numbers generally good yeh except the Prelim business investment which fell sharply...maybe market knee-jerk was reaction to that. Re your comment above, How is it 'support' if price is below it ??

Thanks

G/L
ex member
  • #249,180
  • Aug 27, 2010 3:41am Aug 27, 2010 3:41am
Quoting joemiami
Uk numbers were "so so" for GBP....but not high enough to stop the prior downward bias, in my opinion.

what do you all think ?

as long as we stay below support...i will hold my short
Didnt feel like playing gu now took my luck on eu for now haha.
But if you are short you should have taken some profit already so whteva happens who cares you cant lose.
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