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Cable Update (GBPUSD)

  • #250,221
  • Sep 1, 2010 5:04am Sep 1, 2010 5:04am
Quoting GlobalMacro
Alright Crew...the break of 1.5410 yesterday accelearated the momentum as
anticipated and took her down to 1.5327....

@ late Asian trading we got a print of 1.5418...

we're now in neutral territory...

I'm in waiting mode now...
Re your red TL

But would you trust it a fourth time...?
  • #250,222
  • Sep 1, 2010 5:07am Sep 1, 2010 5:07am
Quoting Delite
Re your red TL

But would you trust it a fourth time...?
it's not a TL per se rather regression line....it's too far away to make a determination as of now...
what I'm setting myself up for is the area we're in now...
Hear the music before the song is over ...
  • #250,223
  • Sep 1, 2010 5:07am Sep 1, 2010 5:07am
Quoting wormboy
The W1 is bearish, the D1 is bearish, the H4 is forming a bearflag and the H1 is still trying to negotiate past the dp which is @5379.

Why did you buy? Is there a stop to your trade?
I took a long @ 5360 based on a 35/50ma cross on the m15 (EOHater special) but waited until the news reaction had ceased. Took half off @ 5385 and moved s/l to +3 and letting the rest ride.

My overall view is currently bearish but after yesterday's drop:

On my daily chart, we are at the 38.2% Fib (4228 low to 5995 high) and I wouldn't be surprised if it bounced up a little.

On my monthly chart we are at the 61.8% Fib (7042 high to 4228 low) and I wouldn't be surprised if we bounced up a little.

It may not be correct, but it sounds reasoned enough in my head for me to roll with it for a bit.
  • #250,224
  • Sep 1, 2010 5:08am Sep 1, 2010 5:08am
Wanting to go short but missed my pending sell by 5 pips...

Waiting again... Becoming quite good at this
@pawpaw1000 on Twitter
  • #250,225
  • Sep 1, 2010 5:10am Sep 1, 2010 5:10am
hopefully a nice long one down!
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  • #250,226
  • Sep 1, 2010 5:15am Sep 1, 2010 5:15am
Bearish momentum has decreased sufficiently in this area...price reacted positively on two occasions on the approach of low 1.5300s...

so I am buying here at 1.5374
Attached Image (click to enlarge)
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Hear the music before the song is over ...
  • #250,227
  • Sep 1, 2010 5:19am Sep 1, 2010 5:19am
Quoting GlobalMacro
Bearish momentum has decreased sufficiently in this area...price reacted positively on two occasions on the approach of low 1.5300s...

so I am buying here at 1.5374
Ohhhhh.. you are going long.. I just closed my longs... I am still bullish this pair man.. I can see all the buyers coming in....
I do not want to chase at these levels.. But if it pulls back to 80 area, I will buy it back..
Worm: You made me close my longs.. I will kill you.. hey jokking man...Always welcome your comments...
  • #250,228
  • Sep 1, 2010 5:28am Sep 1, 2010 5:28am
Quoting GlobalMacro
Bearish momentum has decreased sufficiently in this area...price reacted positively on two occasions on the approach of low 1.5300s...

so I am buying here at 1.5374
ADP employment news pending at 8:15.. in case you forgot about this
  • #250,229
  • Sep 1, 2010 5:29am Sep 1, 2010 5:29am
I wouldn't be going long just yet... Looking for sell at top of this m15 candle...

round about 54000
@pawpaw1000 on Twitter
  • #250,230
  • Sep 1, 2010 5:29am Sep 1, 2010 5:29am
Quoting AdrianHNV
Easy when your in 'shorts'............
Oh my o my....Is that what you spend your days thinking about Bee?....
Hear the music before the song is over ...
  • #250,231
  • Sep 1, 2010 5:31am Sep 1, 2010 5:31am
Quoting LostMyShirt
ADP employment news pending at 8:15.. in case you forgot about this
yup...at long last an important news item after this long drought period...
Hear the music before the song is over ...
  • #250,232
  • Sep 1, 2010 5:42am Sep 1, 2010 5:42am
anyone looking at fibre as a possible short just below 1.2800? had a 140 pip up move but guess it depends on news coming in a couple of min?

EDIT: Guess I should give my reasons... 200ema on h4 touched, HUGE pin on m15 and the long move up needing maybe a 50 pip retrace... targeting 1.2750 - 1.2725
@pawpaw1000 on Twitter
  • #250,233
  • Sep 1, 2010 5:49am Sep 1, 2010 5:49am
Quoting LostMyShirt
Seems like everybody is on the short side.. I am taking a long... entry at 1.5371... Lets seee
Definitely not everyone. I took a long immediately after PMI madness and I showed my H4 TL above to prove my entry. Will see it touch 1.5410, then I get lost with my profit. A close above 1.5415 might get me in again for another ride upward
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #250,234
  • Sep 1, 2010 6:24am Sep 1, 2010 6:24am
Expecting a repeat performance. Target median line.
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  • #250,235
  • Sep 1, 2010 6:42am Sep 1, 2010 6:42am
hi there, I am a newbie........is it possible to select a particular area on MT4.
  • #250,236
  • Sep 1, 2010 6:52am Sep 1, 2010 6:52am
now that you see it

Quoting trending
Expecting a repeat performance. Target median line.
Verily, in every difficulties there is relief
  • #250,237
  • Sep 1, 2010 6:55am Sep 1, 2010 6:55am
Quoting GlobalMacro
Bearish momentum has decreased sufficiently in this area...price reacted positively on two occasions on the approach of low 1.5300s...

so I am buying here at 1.5374
good call as always..
im still in..
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  • #250,238
  • Sep 1, 2010 7:00am Sep 1, 2010 7:00am
Quoting wormboy
lol

actually i was just trying to see his rationale in buying. i mean if there's a technical reason then it's understandable but to say that "i'm going long because people are going short", well that to me is not trading.

i'm outta here. later
if u look at weekly u can see the previous bodies getting very small the pin on last week is the target to take out longs..otherwise im totally wrong
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  • #250,239
  • Sep 1, 2010 7:02am Sep 1, 2010 7:02am
aiaiai... had my pending sell that I never cancelled... will let it run as planned but didn't really want it...

Let's see what happens. Risking 2% of account with lows as target...

Got training so see all later...
@pawpaw1000 on Twitter
  • #250,240
  • Sep 1, 2010 7:07am Sep 1, 2010 7:07am
Quoting nAVIN2007
good call as always..
im still in..
yo playa, wassup....LOL....long time no see bro...
Hear the music before the song is over ...
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