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Cable Update (GBPUSD)

  • #250,841
  • Sep 3, 2010 4:36am Sep 3, 2010 4:36am
I wonder whether price will stay in the 1hr pennant/triangle/thingy ahead of Us NFP @ 1230pm gmt...Who knows...

G/L
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ex member
  • #250,842
  • Sep 3, 2010 4:41am Sep 3, 2010 4:41am
Quoting 4xStar
Well you are rarely wrong! But I still see south and JJ seems to agree with that for different reasons.
I guess that's a good reason for me to be flat atm
one of us will be buying drinks for the house today that's for sure
Thank You
  • #250,843
  • Sep 3, 2010 4:42am Sep 3, 2010 4:42am
Quoting Gleneagles
Good trading opportunities for intraday swings, trading within the bigger range the past 4 days, using 15m/30m charts.


Trying to predict tops and/or bottoms never worked for me.
'

What is your bottom indicator? Is that the one that shows strength/weakness on mtf?
******************* I'd rather make money than be right.
  • #250,844
  • Sep 3, 2010 4:42am Sep 3, 2010 4:42am
Don't about you guys but this pattern is getting strangely familiar.

Added another. Much more similarity. Basically it could go either way.
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  • #250,845
  • Sep 3, 2010 4:43am Sep 3, 2010 4:43am
Quoting wormboy
one of us will be buying drinks for the house today that's for sure
Yep

I like this .. when traders who know their stuff disagree ... makes for a good learning situation.
******************* I'd rather make money than be right.
  • #250,846
  • Sep 3, 2010 4:43am Sep 3, 2010 4:43am
Quoting javajames
In my previous posts I explained why I was short http://www.forexfactory.com/showpost...stcount=250779

I was also hoping some help from GB news.....now it's done and I took my first profit .....

As my analysis is still the same, time to add to my short positions at a higher level (1.54200;1.54375)

And maybe Ill take some longs too before the release....

Trade well
james ...
may i ask why you are still short? Because from your charting I see price had a valid close above kumo.
Thank You
  • #250,847
  • Sep 3, 2010 4:45am Sep 3, 2010 4:45am
Quoting 4xStar
Yep

I like this .. when traders who know their stuff disagree ... makes for a good learning situation.

Totally agree. You only learn from playing with people who are better than you!

Is it too simplistic to say that so long as the price stays above the rollover price (15400) and the DP then intraday bias is long...?
  • #250,848
  • Sep 3, 2010 4:51am Sep 3, 2010 4:51am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
HI Dayboy001,

How much do you pay for the Reuters news service?
Is it a terminal you get or website service?


ta
ams

Quoting Dayboy001
Rueters customers get the news 2 mins before everyone else !!

Read the FF notes properly:

FF Notes Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available via subscription;
  • #250,849
  • Sep 3, 2010 4:52am Sep 3, 2010 4:52am
Quoting javajames
BTW those who know me, know my opinion about Cloggie....don't need to say more....

Good luck everyone
I see that you have Jacko in your buddy list.... now that is food for thought!
  • #250,850
  • Sep 3, 2010 4:54am Sep 3, 2010 4:54am
Quoting wormboy
Still ranging & going into a tight bottleneck. Not surprising heading into the nfp.
But sure has all the making of a big move north. I'm not looking to sell today, unless price close below 5340.

Good luck.
in my chart 5350 is S/R level.so i agree with you wormboy....
yesterday was good, today is the best, tomorrow is amazing.....
  • #250,851
  • Sep 3, 2010 4:59am Sep 3, 2010 4:59am
Quoting 4xStar
'

What is your bottom indicator? Is that the one that shows strength/weakness on mtf?
4XStar,

The bottom ones are set up on 60m, the arrows are mtf 240 60 15 indicating strength/weakness.
" Never let the past hold the future to ransom "
  • #250,852
  • Sep 3, 2010 5:09am Sep 3, 2010 5:09am
Quoting Delite
Totally agree. You only learn from playing with people who are better than you!

Is it too simplistic to say that so long as the price stays above the rollover price (15400) and the DP then intraday bias is long...?
If that is his system, then does he profit from it? If yes, I then take it as a good system for him. The simplistic systems work better.

With both eyes on NFP
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #250,853
  • Sep 3, 2010 5:11am Sep 3, 2010 5:11am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
IS anything moving at all

As expected by judging the PA, it was bearish and I took a short @54350 just before the news. Pound could not even make it to it's resistance.

Doing it @ BE as I don't see any point in trading now. It's a gimme trade anyways if worksout good if doesn't then no regrets.

Good luck to those who are in trade.


ta
ams



Quoting ams
Seems we have a good short in the forming, there is absolutely no strength in pound whatsoever....
I am skeptical news is not positive or maybe neutral...let's see


ta
ams
  • #250,854
  • Sep 3, 2010 5:19am Sep 3, 2010 5:19am
Quoting TheCatsPJs
MACD Divergence lead the way on the 1 min that aswell as the fact that its common for the market to reverse asia direction early on in the trading session
good luck with the rset of the day traders
Cats
do you really think you have an edge looking at macd divergence on 1m chart?
  • #250,855
  • Sep 3, 2010 5:22am Sep 3, 2010 5:22am
Quoting 4xStar
How do you trade both ways? Two accounts?
No I only have one ......with a broker allowing hedging.....
Non licet omnibus adire Corinthum
  • #250,856
  • Sep 3, 2010 5:25am Sep 3, 2010 5:25am
Quoting Delite
Totally agree. You only learn from playing with people who are better than you!

Is it too simplistic to say that so long as the price stays above the rollover price (15400) and the DP then intraday bias is long...?
I use the day open price to gauge i/d bias when scalping the m1 & m5.
open above the dop I look to scalp long and vice versa. Of course there are exceptions to the matter when I do discard the dop bias and trade both sides but generally scalping on the dop side is good enough & will save your skin almost everytime on range trading days.
Thank You
  • #250,857
  • Sep 3, 2010 5:29am Sep 3, 2010 5:29am
Quoting wormboy
I use the day open price to gauge i/d bias when scalping the m1 & m5.
open above the dop I look to scalp long and vice versa. Of course there are exceptions to the matter when I do discard the dop bias and trade both sides but generally scalping on the dop side is good enough & will save your skin almost everytime on range trading days.
dop = daily pivot?
******************* I'd rather make money than be right.
  • #250,858
  • Sep 3, 2010 5:30am Sep 3, 2010 5:30am
Quoting wormboy
james ...
may i ask why you are still short? Because from your charting I see price had a valid close above kumo.
Wormie.....On M30 I will never for sure use kumo for closing a trade....that's of course another story on H4 .....

So here on M30 more importantly I'll wait for PA to hit other side of channel to wonder if I close this trade......after a look at H4 for a final decision....

Hope it helps.....
Non licet omnibus adire Corinthum
  • #250,859
  • Sep 3, 2010 5:33am Sep 3, 2010 5:33am
Quoting bbakker
I see that you have Jacko in your buddy list.... now that is food for thought!
no comment......just because you don't know him......
Non licet omnibus adire Corinthum
  • #250,860
  • Sep 3, 2010 5:33am Sep 3, 2010 5:33am
Quoting 4xStar
dop = daily pivot?
Daily open price.
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