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Cable Update (GBPUSD)

  • #252,041
  • Sep 9, 2010 6:01pm Sep 9, 2010 6:01pm
what do people feel about about another assault on the 5350 area, which will serve as a TELL ALL moment?
  • #252,042
  • Sep 9, 2010 6:05pm Sep 9, 2010 6:05pm
hi all

a good range and the 200 still the king a break below wil go east not still west is way of salvation enjoy
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  • #252,043
  • Sep 9, 2010 6:32pm Sep 9, 2010 6:32pm
Magix,

R U still long on GBPUSD?. If so, at what point would you favour short? I am looking for .5403 as a target and really want to go to bed now!
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  • #252,044
  • Sep 9, 2010 6:49pm Sep 9, 2010 6:49pm
Quoting Uphios
Magix,

R U still long on GBPUSD?. If so, at what point would you favour short? I am looking for .5403 as a target and really want to go to bed now!
I go short if we close 5407.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,045
  • Sep 9, 2010 6:50pm Sep 9, 2010 6:50pm
i remember he was saying he exited,,,,,,,,




Quoting Uphios
Magix,

R U still long on GBPUSD?. If so, at what point would you favour short? I am looking for .5403 as a target and really want to go to bed now!
We cannot direct the winds but we can adjust our sail.
  • #252,046
  • Sep 9, 2010 7:04pm Sep 9, 2010 7:04pm
Quoting Magix
I go short if we close 5407.
Not relevent now. I had a 5 point trailing stop and my broker decided to open up the spread for about a second, just enough to ping my stop.

Anyway, at least I can go to bed now. Night all.
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  • #252,047
  • Sep 9, 2010 7:10pm Sep 9, 2010 7:10pm
Quoting Magix
I go short if we close 5407.

hey wise man


are we looking at the same thing
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  • #252,048
  • Sep 9, 2010 7:17pm Sep 9, 2010 7:17pm
Quoting kill56
hey wise man


are we looking at the same thing
Hi Kill.

That was my target line until the premature close. Still 56 pips in the bag so I will sleep better.

G'Night now.
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  • #252,049
  • Sep 9, 2010 7:17pm Sep 9, 2010 7:17pm
Break below and hold, I go short sighted...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,050
  • Sep 9, 2010 7:18pm Sep 9, 2010 7:18pm
Quoting kill56
hey wise man


are we looking at the same thing
I believe we are killer.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,051
  • Sep 9, 2010 7:19pm Sep 9, 2010 7:19pm
Quoting Uphios
Hi Kill.

That was my target line until the premature close. Still 56 pips in the bag so I will sleep better.

G'Night now.

enjoy and nighty dont leave any pip behined
  • #252,052
  • Sep 9, 2010 7:28pm Sep 9, 2010 7:28pm
i am trying to play with the S10 chart with ema's
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  • #252,053
  • Sep 9, 2010 7:47pm Sep 9, 2010 7:47pm
Weird evening so far... I was expecting a huge move when the ema's closed where I circled. They were bunched up pretty tight on the 15 and 30 minutes charts as well. Maybe it'll still break out here soon, but this is totally not what I expected, therefore I am staying flat at this point.
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  • #252,054
  • Sep 9, 2010 9:09pm Sep 9, 2010 9:09pm
Quoting Nate04
Weird evening so far... I was expecting a huge move when the ema's closed where I circled. They were bunched up pretty tight on the 15 and 30 minutes charts as well. Maybe it'll still break out here soon, but this is totally not what I expected, therefore I am staying flat at this point.
Sometimes we have to zoom out to eliminate
the candle bodies and narrow up the screen
and then the ~40 pip move looks gigantic. LOL

Dr. D.
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  • #252,055
  • Sep 9, 2010 9:18pm Sep 9, 2010 9:18pm
Quoting Nate04
Weird evening so far... I was expecting a huge move when the ema's closed where I circled. They were bunched up pretty tight on the 15 and 30 minutes charts as well. Maybe it'll still break out here soon, but this is totally not what I expected, therefore I am staying flat at this point.
Yes everything is weird. Once upon a time a 5 - 15m compression
could run for hundreds of pips. As many are saying we're just getting
back from summer break. However, this move off of the 5m C has a
nice angle (30-45 degree) and those sometimes run 'forever' rather
than springing back like is seen so often in 60+ degree moves.

Several of the tf's are forming compression patterns so something
big might still be brewing. Look at the daily forming. A continuation
down in the days ahead will close off this pattern.

Dr. D.
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  • #252,056
  • Edited 11:23pm Sep 9, 2010 10:01pm | Edited 11:23pm
5385 area looks like a good area to spot a reversal.

Somebody correct me if I'm wrong, a further drop down to the 5350 area will complete a bullish gartley pattern.
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  • #252,057
  • Sep 9, 2010 10:34pm Sep 9, 2010 10:34pm
Quoting fourxtrader
Yes everything is weird. Once upon a time a 5 - 15m compression
could run for hundreds of pips. As many are saying we're just getting
back from summer break. However, this move off of the 5m C has a
nice angle (30-45 degree) and those sometimes run 'forever' rather
than springing back like is seen so often in 60+ degree moves.

[i][color=blue]Several of the tf's are forming compression...
Thanks for this advice. Ever since I began using this idea of yours, all I have seen was the 60+ degree moves, which made me very nervous about taking this trade because it didn't appear to be a strong move. I'll keep your advice in mind for the next time this occurs.
  • #252,058
  • Sep 10, 2010 12:47am Sep 10, 2010 12:47am
That 5385 area has me licking my chops for a good bull run up to 5525 or more...

if it breaks below 5385 then i will short...
  • #252,059
  • Sep 10, 2010 12:58am Sep 10, 2010 12:58am
what you think about shorting at 1.5410 cable?
  • #252,060
  • Sep 10, 2010 1:08am Sep 10, 2010 1:08am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting zigizum
Yes, I still see strong resistance at 5485, but momentum is strong...

I play only 2% per cross strategy so im confident that I can still see the downside...add my short at 5490 and moved my SL to 5540...

Now I risk 2%....so 5 trades for 2 % exposure, hope it will last

edit: posted 2 days ago, got "lucky" with my precise SL
Holding short from:
5490
5456
5445
5419
5394
for another test of 1,53
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