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Cable Update (GBPUSD)

  • #251,741
  • Sep 9, 2010 12:43am Sep 9, 2010 12:43am
Quoting Magix
..
As you spend some time walking the halls here at the Forex Factory, have an idea of what you are reading and where it is coming from. Take the trades based on what you see on your charts, not what guys like this post. IF for some reason you are unsure, sit back and relax. Maybe you aren't making any money, but you aren't losing any either.

Take the time. Watch for what seems right. Commit some time to your understanding of the markets..
Very well and clear.
Thanks to you Magix.

and the iggy box occupant increased
  • #251,742
  • Sep 9, 2010 12:54am Sep 9, 2010 12:54am
Quoting ams
Good one TT, my 2 cents, chart below suggests false breakouts which was expected...could this be a false breakout and we go back in range as we closed the day within the range, who knows...seems bullish though but surprise considering BOE wouldn't be raising rates soon so why buy..hmm

ta
ams
Good day to you,

Very fair comment! Will have to be patient and careful.

All the best

Regards
  • #251,743
  • Sep 9, 2010 1:00am Sep 9, 2010 1:00am
Quoting __UnknowN__
Here is GBP/CHF

Nice break on the daily
Doesn't that look almost exactly like the break we had two days ago on Cable... Finally broke through and then made new high...

But cable is crazy Got stopped on my fibre shorts overnight for BE even though price was 5 pips below my stop! pisses me off! cable short still running, up 40 and s/l to be +20...

LO could be interesting but think today will be techie driven rather than fundie driven...

Let's see...
@pawpaw1000 on Twitter
  • #251,744
  • Sep 9, 2010 1:04am Sep 9, 2010 1:04am
Quoting HiCS
Went for an EARLY SHORT at 5525; expecting DIX strength as it found support
still looking good, removed 1 lot for 70 pips profit.....
  • #251,745
  • Sep 9, 2010 1:15am Sep 9, 2010 1:15am
Quoting omar maged
what do you think
just for follow up
like this
  • #251,746
  • Sep 9, 2010 1:18am Sep 9, 2010 1:18am
Quoting pawpaw1000
Doesn't that look almost exactly like the break we had two days ago on Cable... Finally broke through and then made new high...

But cable is crazy Got stopped on my fibre shorts overnight for BE even though price was 5 pips below my stop! pisses me off! cable short still running, up 40 and s/l to be +20...

LO could be interesting but think today will be techie driven rather than fundie driven...

Let's see...
your candle may show 5 pips below , if you look at a tic chart with both the bid and ask lines on it you will see it got hit , was probably when the liquidity was lower and the spreads were a little wider than normal .
  • #251,747
  • Sep 9, 2010 1:20am Sep 9, 2010 1:20am
the four chart suggests short still, hourly says back in range and stay short, but the daily chart shows regular divergence which indicates long, so that leaves me thoroughly confused, lol...yday traders were suggesting 1.5450 as a support from which a bounce to retarget the highs, but now its back in range, a short towards 1.53 seems better, any ideas from the crystal ball or tea leaves...
  • #251,748
  • Sep 9, 2010 1:21am Sep 9, 2010 1:21am
Quoting digger1
your candle may show 5 pips below , if you look at a tic chart with both the bid and ask lines on it you will see it got hit , was probably when the liquidity was lower and the spreads were a little wider than normal .
aiaiai... Would have netted me 60 pips if it didn't get hit! anyways, let's see if we going to continue in this downtrend on h4 or start moving up? I'm still in favour of the Bears but I'm not making the market!
@pawpaw1000 on Twitter
  • #251,749
  • Sep 9, 2010 1:22am Sep 9, 2010 1:22am
Quoting pawpaw1000
aiaiai... Would have netted me 60 pips if it didn't get hit! anyways, let's see if we going to continue in this downtrend on h4 or start moving up? I'm still in favour of the Bears but I'm not making the market!
lol, me nether , just going to hop on the coattails of which side is winning lol
  • #251,750
  • Sep 9, 2010 1:30am Sep 9, 2010 1:30am
how do i know whether this current breakdown of cable is not a frankie fake this morning?
  • #251,751
  • Sep 9, 2010 1:32am Sep 9, 2010 1:32am
Quoting digger1
lol, me nether , just going to hop on the coattails of which side is winning lol
Heya, looks like we have dropped back under my utl, got 80 pips now but worried about the LO fake and turn...

Let's see...
@pawpaw1000 on Twitter
  • #251,752
  • Sep 9, 2010 1:33am Sep 9, 2010 1:33am
Quoting HiCS
still looking good, removed 1 lot for 70 pips profit.....
thats 100 pips now

and Cloggie was calling me amateur for taking a short at 5525..
  • #251,753
  • Sep 9, 2010 1:34am Sep 9, 2010 1:34am
Quoting monkey@forex
how do i know whether this current breakdown of cable is not a frankie fake this morning?
you don't

Good luck, check my previous post, I'm just as worried
@pawpaw1000 on Twitter
  • #251,754
  • Edited 1:50am Sep 9, 2010 1:36am | Edited 1:50am
Hi guys and ladies,

I won't trade cable untill I' ve got confirmation PA will stay BELOW or ABOVE kumo......

Patience is a key for success in trading....

GL everyone
Attached Image (click to enlarge)
Click to Enlarge Name: saisie_chart.gif Size: 35 KB
Non licet omnibus adire Corinthum
  • #251,755
  • Sep 9, 2010 1:39am Sep 9, 2010 1:39am
Quoting pawpaw1000
Heya, looks like we have dropped back under my utl, got 80 pips now but worried about the LO fake and turn...

Let's see...
here is a picture of a single tic chart , if the top priceline doesent hit my limit order it wont get triggered even tho a candle may show it got hit , just the oppisite of what you had , didnt look like it was hit but got triggered, happens quite often in early asia and a candle dont show you everything as the spreads get wider . I know you are looking longer term but I have taken some profit already on several posistions , will then look to see what london has in mind .
Attached Image (click to enlarge)
Click to Enlarge Name: tic.JPG Size: 130 KB
  • #251,756
  • Sep 9, 2010 1:43am Sep 9, 2010 1:43am
Quoting digger1
here is a picture of a single tic chart , if the top priceline doesent hit my limit order it wont get triggered even tho a candle may show it got hit , just the oppisite of what you had , didnt look like it was hit but got triggered, happens quite often in early asia and a candle dont show you everything as the spreads get wider . I know you are looking longer term but I have taken some profit already on several posistions , will then look to see what london has in mind . Attachment
Alrighty! See she is still dropping and Dollar is still climbing! Hoping LO will agree with Asia and we can see new low

Maybe not that far
@pawpaw1000 on Twitter
  • #251,757
  • Sep 9, 2010 1:51am Sep 9, 2010 1:51am
Quoting pawpaw1000
Alrighty! See she is still dropping and Dollar is still climbing! Hoping LO will agree with Asia and we can see new low

Maybe not that far
For whats it worth I have a 4 hourly resistance line at 5419
  • #251,758
  • Edited 2:19am Sep 9, 2010 1:54am | Edited 2:19am
Quoting monkey@forex
the four chart suggests short still, hourly says back in range and stay short, but the daily chart shows regular divergence which indicates long, so that leaves me thoroughly confused, lol...yday traders were suggesting 1.5450 as a support from which a bounce to retarget the highs, but now its back in range, a short towards 1.53 seems better, any ideas from the crystal ball or tea leaves...

i don't recall saying 5450 being a bounce point. 5450 is the w1 pvp, so from the highs yesterday which was testing the monthly pvp ard 5545, the w1 pvp seems like the likeliest support. big, broken levels more often than not will always gets a retest to confirm the direction, in this case, the broken w1 pvp yesterday is getting a retest.
Btw, it's not back in range. The current H1 bar open price is 5457, which is in between the W1 pvp & the D1 pvp. Only an open below negates the 5450 support.
You can short towards 5300 right now, if you have a good reason or two or if you're holding shorts from the monthly pvp yesterday. But, its a pretty risky trade if you want to take it on from here imo. Keep in mind the D1 has a complete morning star formation. That's a warning.


Quoting wormboy
you're welcome

5450 is the W1 pvp. That imo, is the obvious support for now.
Good luck with your trades.
Thank You
  • #251,759
  • Sep 9, 2010 1:58am Sep 9, 2010 1:58am
Pullback off yesterday's 5533 Hi continues in asia and early london session reaching the 50% of the 5296-5533 swing coexistant with 61.8% of a smaller 1hr swing up to same hi.

1hr screenshot is below...some Uk trade data @ 0830am gmt and Boe/Mpc stuff later at 11am gmt.

G/L
http://www.easy-upload.net/fichiers/z.20109985745.gif
ex member
  • #251,760
  • Sep 9, 2010 2:01am Sep 9, 2010 2:01am
Hey Hoe, and were off...
@pawpaw1000 on Twitter
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