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Cable Update (GBPUSD)

  • #249,841
  • Aug 30, 2010 10:48am Aug 30, 2010 10:48am
Quoting PipChick
Pullbacks are always better. (unless you cant get one )
If you cant get a pullback, you should wait on a close and trade a smaller position anticipating a possible pullback.
I got my 100 on my 1m pip counter, have added first set of longs for PB here.

Will add if we see 1.5435 and 1.5415.

Holding for a positive MA cross on the chart for profit.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,842
  • Aug 30, 2010 10:50am Aug 30, 2010 10:50am
Quoting PipChick
Pullbacks are always better. (unless you cant get one )
If you cant get a pullback, you should wait on a close and trade a smaller position anticipating a possible pullback.
true on pullbacks , however you will always get slight upward movements in downtrends and using my style of traing these may present themselves as good opps for entering trade if missed top already. I entered 5510 this morning on a sell ... missed top as it was overnight while getting some sleep

reason valid upthrust on a 10 min chart in a downtrend
Blogging daily now at www.volume.zone
  • #249,843
  • Aug 30, 2010 10:53am Aug 30, 2010 10:53am
Quoting malcolmb14
look for re test 1.5500 to get short. ...

price moving slowly right now , 100 pip range day lower than normal , but days range almost complete.

sell limit at 1.5500 may serve you better
Yes, I am still fat.. but this looks like a slow bleed..
  • #249,844
  • Aug 30, 2010 10:54am Aug 30, 2010 10:54am
Quoting cloggie
I know, I just wanted an excuse to give you an update on the challenge from last night.

There were about 10 of you jumping down my neck for shorting, ah well.
when you short or take a long trade in anticipation of a swing/range...how much stop loss do you use?
  • #249,845
  • Edited 11:50am Aug 30, 2010 10:56am | Edited 11:50am
Quoting Magix
I got my 100 on my 1m pip counter, have added first set of longs for PB here.

Will add if we see 1.5435 and 1.5415.

Holding for a positive MA cross on the chart for profit.

I reckon i'm also gonna have a go at this range...

M15 forming nice tweezers, not sure where I'll TP. Maybe also 5570?

Pending Buy at 5460...
@pawpaw1000 on Twitter
  • #249,846
  • Aug 30, 2010 11:39am Aug 30, 2010 11:39am
A little of what I am looking at and looking for....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,847
  • Aug 30, 2010 11:48am Aug 30, 2010 11:48am
Quoting Magic Hat
Morning all - happy UK bank holiday...I should really be outside enjoying the sunshine (summer not over yet!).

Anyhoo had a quick look at my charts. Currently flat. Looking at resistance around 5599 which was last week's high...also have trend line on h4 from highs on 16th, 17th, 18th and 19th August which comes into play at 5599.

If we break that, will look to go bullish to 567x (Daily R3, 38.2% retrace from 599x and high on 19th August). If we don't break resistance, will go bearish back down to 550x which is where the daily and weekly pivots...
Here is my current h4 chart. Will look to play the range within the trend lines and then see where price takes us when it breaks out of the triangle...
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  • #249,848
  • Aug 30, 2010 11:52am Aug 30, 2010 11:52am
Quoting Magix
A little of what I am looking at and looking for....
jip, got a very tight s/l and watching closely, if that support goes, I'm out as it means my reason for entering has dissapated...

Don't like what I see, closed for + 6 pips...

Good luck on those longs, This PA is a bit uncertain for my liking... Maybe get on when we break either way... or long lower down..
@pawpaw1000 on Twitter
  • #249,849
  • Aug 30, 2010 11:57am Aug 30, 2010 11:57am
Quoting pawpaw1000
jip, got a very tight s/l and watching closely, if that support goes, I'm out as it means my reason for entering has dissapated...
Pulled a quick 21 on first sets, sitting even on the rest here.

Great start to the week, I'm not about to be all worried just yet.

2 things I can guarantee...these 2 lines will cross, I will prosper!

Even if I gotta still add at previously listed levels, 1.5435, 1.5415.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,850
  • Aug 30, 2010 11:59am Aug 30, 2010 11:59am
My 4h bar will close at support without any wick showing lost of bull momentum.
This also take more time to dig out of this hole then last time. But still in the range...

Let's see...
"Flip that coin!"
  • #249,851
  • Aug 30, 2010 12:01pm Aug 30, 2010 12:01pm
I think we are headed to 1.5420 area....monthly pivot
  • #249,852
  • Aug 30, 2010 12:29pm Aug 30, 2010 12:29pm
Quoting ferndog
I think we are headed to 1.5420 area....monthly pivot
It'll have to get past daily S1 and a tl to get there, let's worry about that first. Even if it does I'll not be there to see it.

Quite surprise to see price move so much on such thin volume.

Will shut down for the night. Good trading everyone.
  • #249,853
  • Aug 30, 2010 12:36pm Aug 30, 2010 12:36pm
One thing i have learnt in this sideways market is play the trend on a 15 min

How many have tried playing the long side today ? when 1.5500 is really the key.

I know Mag did but he is a master at the the quick hit counter trend trade

hulls moving average, turns green , 1st down bar with signs buyer, buy
turns red , 1st effort to move up that next bar down sell

todays charts 140 pip .... same most of last week.

almost to simple sometimes to trade a channel usaing some kind of trend indie ( rsx also works well ) on a 15 min chart

All you need is time , and a ton of red bull to keep you awake ...lol

due to my hulls being red for now on a 15m in I do not buy , even though i have seen potential buyers in the volumes about 2 hrs back

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Blogging daily now at www.volume.zone
  • #249,854
  • Aug 30, 2010 12:38pm Aug 30, 2010 12:38pm
alright crew...I'm still in weekend mode...

easing slowly into trading mode...

so here is a blueprint for things to come...

will elaborate as I step up the gear...
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Hear the music before the song is over ...
  • #249,855
  • Aug 30, 2010 12:41pm Aug 30, 2010 12:41pm
Quoting mouse09
Hello everybody.
So, I don't know how to be..

it' so pity... all my 3 days old sells seem to be in loss very soon



*I could close all orders and go to buy from 5450

but I told myself that it's better to risk and wait

so (( I left them run. will see.. (


Attachment

Quoting malcolmb14
I entered 5510 this morning on a sell ... missed top as it was overnight while getting some sleep

reason valid upthrust on a 10 min chart in a downtrend


Hello everybody. so, will see...
my aim as before 1,5357
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  • #249,856
  • Aug 30, 2010 12:45pm Aug 30, 2010 12:45pm
A simple "crude" chart,

Shout out to brother Magix-
& showing me the 'Lick' w/the 24 & 200 ema's...

Picked some down, picked some sticky-finger's up,
knowing enough to get out of the Dow's "M_I_N_O_R",
lunch-time 10-15 pip "rally"-(?)-!

Listen up,
Those on the Thread to those in the know, 'Thanks for the
continual enforcement on the "Cloggie/Worm/Brother-MalcombTrend"
&-The continual... Magix Ema-Wisdom!
'There, is every-body "glossed" enough?-! -As if you needed/want it!

Prop's if she break's south today,
I'm cooked for this ride, smash-grabbed what 'got :-)!
-I think she'll "Hurl Cookies", w/London Tomorrow,
Best of Pippin',

Jeff
Attached Image (click to enlarge)
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I will work to Objectively Identify my Edges
  • #249,857
  • Aug 30, 2010 12:51pm Aug 30, 2010 12:51pm
I am trading es heavily these days as timing suits me better , 2 hours a day and then I am done.

watch 1040 on es this week , 10000 dj , weekly close under this level we could see a good 5% to 15% further loss on markets after labour day weekend.

I have one options trade that if it works makes me 1600 % ...and i do not need much of a move under 10000 on dj ... risk of loss 12 k ...but even then I will not let the options (spread play ) expire worthless. so MAX risk is 4 k to make almost 200...the guy that gave this to me is an options genius and made 450 k on $1,500 when lehman went down.

Quoting TerpFan2
A simple "crude" chart,

Shout out to brother Magix-
& showing me the 'Lick' w/the 24 & 200 ema's...

Picked some down, picked some sticky-finger's up,
knowing enough to get out of the Dow's "M_I_N_O_R",
lunch-time 10-15 pip "rally"-(?)-!

Listen up,
Those on the Thread to those in the know, 'Thanks for the
continual enforcement on the "Cloggie/Worm/Brother-MalcombTrend"
&-The continual... Magix Ema-Wisdom!
'There, is every-body "glossed" enough?-! -As if you needed/want it!

Prop's if she break's south today,
I'm...
Blogging daily now at www.volume.zone
  • #249,858
  • Aug 30, 2010 12:56pm Aug 30, 2010 12:56pm
Thank You Malcomb,

That's more of what i'm hearing...
We'll see, 'thinking the same after Labor Day,
Then she really flies, maybe a 'Tad' before?
It was funny to see Asia just sell GBP/JPY off,
Right after driving everybody in up to 133!!!

Thinking also, not only of the Sale... but then the "Buy" period,
From "November-to May", in the back
of my 'Dome'!

Best of Work Pipping & Thanks for all
your help & the "skinny",

Jeff !
I will work to Objectively Identify my Edges
  • #249,859
  • Aug 30, 2010 1:02pm Aug 30, 2010 1:02pm
Quoting malcolmb14
One thing i have learnt in this sideways market is play the trend on a 15 min

How many have tried playing the long side today ? when 1.5500 is really the key.

I know Mag did but he is a master at the the quick hit counter trend trade

hulls moving average, turns green , 1st down bar with signs buyer, buy
turns red , 1st effort to move up that next bar down sell

todays charts 140 pip .... same most of last week.

almost to simple sometimes to trade a channel usaing some kind of trend indie ( rsx also works well ) on a 15 min chart

All...

I did longs today. All I did was long the EU and GU but only scaling and scalping off low TLs and bounces for a few pips. Not really worth trading today with GBP bank holiday. Soon the summer will be over and the market should pick up again. Every should be back from vacation to hit it hard again.

Best Wishes.
  • #249,860
  • Aug 30, 2010 1:05pm Aug 30, 2010 1:05pm
gu already under last weeks close , if that holds for week (5537) we could see 5400 or lower ....range could be as much as 400 pip

GJ i covered in my vsa thread this morning ... broke what looks like flag / channel and could head to 129 to 127 , then see if that holds.

they talk of stocks being cheap and p/es coming down .... some are . I have been watching JPM but to be honest us banks scare the crap out of me. All this talk of to big to fail means they can fail ....and the unreported losses banks are tkaing right now due to abolishment of mark to market back in 2008 are in the order of 15 billion per month and growing , add to that the fact their their balance sheets look even better as if they have an asset of 400 k on a loan of 350 k , but now that asset is only 200 k , they can report that they actually have 50 k as an asset / buffer aginast the loan that nmaybe going into default. In other words they do not have to report the loss on theri quarterly statements ... this is what mark to market was and why all the banks made a sudden wonderful recovery in the later half of 2008.

Quoting TerpFan2
Thank You Malcomb,

That's more of what i'm hearing...
We'll see, 'thinking the same after Labor Day,
Then she really flies, maybe a 'Tad' before?
It was funny to see Asia just sell GBP/JPY off,
Right after driving everybody in up to 133!!!

Thinking also, not only of the Sale... but then the "Buy" period,
From "November-to May", in the back
of my 'Dome'!

Best of Work Pipping & Thanks for all
your help & the "skinny",

Jeff !
Blogging daily now at www.volume.zone
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