quarter more profits taken at 15308
Cable Update (GBPUSD)
- #251,462
- Sep 7, 2010 10:50am Sep 7, 2010 10:50am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
So far, bottom holding at 152967. Depending on how this candle closes we could have a tweezer bottom on the 1H.
my crayon is 1/2 a pip wide.
my crayon is 1/2 a pip wide.
... 152972 is more significant support on the Monthly & Weekly charts. If this doesn't hold, we have more room to drop.
- #251,463
- Sep 7, 2010 10:56am Sep 7, 2010 10:56am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
my crayon is 1/2 a pip wide.
But you know your minors from your majors, for most noobs here (and let's be honest there are quite a few of them) the crayon method focuses the mind on areas of support and keeps them from selling the bottom on a M5 candle as plenty on here have done today.
- #251,464
- Sep 7, 2010 10:59am Sep 7, 2010 10:59am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
- #251,465
- Sep 7, 2010 11:03am Sep 7, 2010 11:03am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
The reason I don't care in which direction she goes is that unless I get the 'correlation from Euro and Swissy' I don't trade, like I used too when I first started. Thought that every move I missed was lost opportunitybut in fact it's not, it now means that when I do trade their is a higher probability of getting it right and making money instead of loosing it. Which I have done, like many others I suspect when in their infancy (Which I still am).
Just to come back on the subject here at the LC, and sorry for picking on you, but how could the Swissy correlation have helped you here, for the first part of the day it was inversely correlated then correlated and for the last part it was inversely correlated.
There is a lot more to correlation trading then just comparing Cable to the swissy. Using the swissy as correlation you would have been on the wrong side of the market for about 70% of the day.
- #251,466
- Sep 7, 2010 11:03am Sep 7, 2010 11:03am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Having a bit of fun...
Zones do make a lot of sense and can keep people out of trouble.
Least common denominator kind of thing.....
I am done for the day, not a bad start of the "normal" trading season. The CT's can have a bit of fun here with tight stops.
See you G/G at the LO
- #251,467
- Sep 7, 2010 11:09am Sep 7, 2010 11:09am
- | Joined Sep 2009 | Status: Trader | 1,188 Posts
Least common denominator kind of thing.....
I am done for the day, not a bad start of the "normal" trading season. The CT's can have a bit of fun here with tight stops.
See you G/G at the LO
See ya Cloggie. Thanks for the help today.
- #251,469
- Sep 7, 2010 12:49pm Sep 7, 2010 12:49pm
- | Commercial User | Joined Oct 2008 | 5,712 Posts
A lot of the people who believe this don't realize that RT is state sponsored propaganda, or that Schiff is an agenda driven liar. He's famous for fudging the numbers on his failed gold carry trade in the 90's by not accounting for inflation.
It's important to fact check sources for reliability.
- #251,471
- Sep 7, 2010 2:23pm Sep 7, 2010 2:23pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #251,472
- Sep 7, 2010 2:48pm Sep 7, 2010 2:48pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
Well boys and girls,
Lower low today on H4, after a LOOOOONG struggle. Calls for celebration? Might look to short from the 5380 level here for a overnight trade targeting the lows just before LO 2moro. Will be watching for a signal to short but so far it seems we still have some momentum to the upside...
Will be very interesting to see where we go from here? Could this have been a fake out to get some stops just below the 5300 level?
Time will tell but with the HUGE drop In Fibre, although it is linked to sovereign debt issues, we could see cable making a overnight drop. Equities are also off (s&p500 broke out of consolodation to the downside but is now testig bottom of range again) and so should strengthen the case for the short side...
1.5390 to be exact for this upmove, no further (based on the 40 pip up, consol, and now looking for another 40 before down )
Intraday trading can be tough as we might see a bounce in everything I've said 2moro but looking at the picture as it looks now, Shorts are in Favour and I'm looking to join
Lower low today on H4, after a LOOOOONG struggle. Calls for celebration? Might look to short from the 5380 level here for a overnight trade targeting the lows just before LO 2moro. Will be watching for a signal to short but so far it seems we still have some momentum to the upside...
Will be very interesting to see where we go from here? Could this have been a fake out to get some stops just below the 5300 level?
Time will tell but with the HUGE drop In Fibre, although it is linked to sovereign debt issues, we could see cable making a overnight drop. Equities are also off (s&p500 broke out of consolodation to the downside but is now testig bottom of range again) and so should strengthen the case for the short side...
1.5390 to be exact for this upmove, no further (based on the 40 pip up, consol, and now looking for another 40 before down
)Intraday trading can be tough as we might see a bounce in everything I've said 2moro but looking at the picture as it looks now, Shorts are in Favour and I'm looking to join
@pawpaw1000 on Twitter
- #251,474
- Sep 7, 2010 2:59pm Sep 7, 2010 2:59pm
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
Cheers mate.
Burry's not predicting the collapse of the dollar.
Gold and farmland are a good long term investment.
Burry's not predicting the collapse of the dollar.
Gold and farmland are a good long term investment.
- #251,475
- Sep 7, 2010 3:58pm Sep 7, 2010 3:58pm
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Cheers mate.
Burry's not predicting the collapse of the dollar.
Gold and farmland are a good long term investment.
i just think with current home sales, gold, yen rise and real estate right now...
mmmm..look like i am getting more interesting with all cross pair atm...
appreciate if some one able to interpret in a different angle of his opinion?
- #251,476
- Sep 7, 2010 5:24pm Sep 7, 2010 5:24pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Eid Mubarak & Selamat Hari Raya Aidilfitri, maaf zahir dan batin to my brothers 
Enjoy the holidays.
Enjoy the holidays.
Thank You 
- #251,477
- Sep 7, 2010 5:28pm Sep 7, 2010 5:28pm
man i have 2 more fast till thursday here in pakistan..
Eid Mubarak & Selamat Hari Raya Aidilfitri, maaf zahir dan batin to my brothers
Enjoy the holidays.
We cannot direct the winds but we can adjust our sail.
