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Cable Update (GBPUSD)

  • #252,481
  • Sep 12, 2010 7:38pm Sep 12, 2010 7:38pm
magix, you think the range continues?
  • #252,482
  • Sep 12, 2010 8:15pm Sep 12, 2010 8:15pm
Quoting alex1976
magix, you think the range continues?
I friggen hope not!!

Whether we bust out the 200 on the H4 or sink into the depths, I do believe we will see somthing that more resembles a trend over the next days to come. I am still bullish on cable, until or unless we fully bust out bottom 200 on the daily.

Really don't much matter which direction we head, I am only in for the ride.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,483
  • Sep 12, 2010 8:27pm Sep 12, 2010 8:27pm
Quoting alex1976
magix, you think the range continues?
goodness .. and to think that you're a vouched member
  • #252,484
  • Sep 12, 2010 8:40pm Sep 12, 2010 8:40pm
Quoting Magix
First off here Kote, welcome to the asylum....

thanks buddy.

don't worry, i won't be bothered about us not being in agreement all the time. this is a forum after all.
I fully understood about you not having a bias but i needed to just point out where navin's technical analysis made no point whatsoever in regards to the 4 hour chart he posted as it is clearly in a downtrend since beginning of august while he keeps piling up useless counter trend trades and failing to spot price breaking lower at every support. It's up to him, but i just felt that it's a bit unfair to traders who do use fibonacci and trendlines in their approach such as myself to just sit and watch such a blatant faulty chart being posted left unsaid.

Again, thanks for the welcome
  • #252,485
  • Sep 12, 2010 8:58pm Sep 12, 2010 8:58pm
Quoting Magix
I friggen hope not!!

Whether we bust out the 200 on the H4 or sink into the depths, I do believe we will see somthing that more resembles a trend over the next days to come. I am still bullish on cable, until or unless we fully bust out bottom 200 on the daily.

Really don't much matter which direction we head, I am only in for the ride.


Just asking cause i went long at 370, assuming the range continues.

My limit is 451, and I put a tight stop at 330.

I thought it was a decent trade, 60% or so, with a 1:2 risk reward.
  • #252,486
  • Sep 12, 2010 9:10pm Sep 12, 2010 9:10pm
Quoting alex1976
Just asking cause i went long at 370, assuming the range continues.

My limit is 451, and I put a tight stop at 330.

I thought it was a decent trade, 60% or so, with a 1:2 risk reward.
The chart is saying that we are currently stalled topside at the 15m 200 and holding support on the current 5m...

Shitty little range to be trapped in, but overall, it was a pretty decent bullish open, so my tendency is still towards that.

I am currently flat and will most likely way for London to find my next trade, unless of course if opportunity presents...

Top left chart, 15, yellow line resistance, 200EMA.
Top right, 5m, yellow line, support, 200ema.

Bottom right a 1m view of the 5m support.
Attached Image (click to enlarge)
Click to Enlarge Name: supres.jpg Size: 191 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,487
  • Sep 12, 2010 9:27pm Sep 12, 2010 9:27pm
doooooooooooooooooooooooooooooooooon

i love the shooooooot

it sounds like some body i know


sorry but i have to say it


hi alll still loking for the magic 200 on h4 and above we are looking for the 5600 if not who gives a dam hit and run cash in some cans

best of luck to all the way for now is west enjoy the ride
  • #252,488
  • Sep 12, 2010 9:31pm Sep 12, 2010 9:31pm
doom i must be high after all its crackforex

the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 4h cable.gif Size: 21 KB
  • #252,489
  • Sep 12, 2010 9:45pm Sep 12, 2010 9:45pm
..chart never lie...chow
  • #252,490
  • Sep 12, 2010 9:47pm Sep 12, 2010 9:47pm
Quoting grashid
..chart never lie...chow

true 2 chows
  • #252,491
  • Sep 12, 2010 10:19pm Sep 12, 2010 10:19pm
The ZUP indicator didn't capture the gartley pattern, but the confluence of fibs are pretty darn amazing .886, .618, 1,27, .786. Right to the pip.
Attached Image (click to enlarge)
Click to Enlarge Name: 12septconfluence.gif Size: 28 KB
  • #252,492
  • Sep 13, 2010 1:10am Sep 13, 2010 1:10am
Noobie question, please - any views as to whether this early rally is a true breakout or 'trap' ?? which indicators does one look out for direction on this - TIA
  • #252,493
  • Sep 13, 2010 1:10am Sep 13, 2010 1:10am
success too bbaker.....

market profile already tell us something at the weekend.... :
http://www.forexfactory.com/showpost...stcount=252503

Happy trading and Success for all ...

Rgds,iqyu

Quoting bbakker
I have no experience in VSA or trading using VSA. You should ask Malcolmb or Shamus. I have read up on VSA and it seems like a very useful tool. As Temps already stated and with myself quoting from Shamus' thread, we are in the accumulation phase, hence the current ranging and usually when you see high volume on an upbar with a long candle wick at the top, it indicates the professionals positioning themselves on the short side.

The professionals/market makers can't just buy or sell in one go without it affecting price adversely, so they do it...
not euphoria follower
  • #252,494
  • Sep 13, 2010 1:11am Sep 13, 2010 1:11am
Quoting dimlat
Noobie question, please - any views as to whether this early rally is a true breakout or 'trap' ?? which indicators does one look out for direction on this - TIA
trap was down move friday ...check my posting today in my vsa thread on daily futures chart , potential LARGE move in gu building to upside ... just not sure how large 1.5700 ? or 1.5900 to 1.6
Blogging daily now at www.volume.zone
  • #252,495
  • Sep 13, 2010 1:15am Sep 13, 2010 1:15am
Quoting malcolmb14
trap was down move friday ...check my posting today in my vsa thread on daily futures chart , potential LARGE move in gu building to upside ... just not sure how large 1.5700 ? or 1.5900 to 1.6


rgds,iqyu
http://www.forexfactory.com/showpost...stcount=252503
http://www.forexfactory.com/showpost...&postcount=670
not euphoria follower
  • #252,496
  • Sep 13, 2010 1:21am Sep 13, 2010 1:21am
Quoting malcolmb14
trap was down move friday ...check my posting today in my vsa thread on daily futures chart , potential LARGE move in gu building to upside ... just not sure how large 1.5700 ? or 1.5900 to 1.6
Many thanks - will look and learn - interesting, as many experienced posters here seem to have an overall bearish view at the moment.
  • #252,497
  • Sep 13, 2010 1:23am Sep 13, 2010 1:23am
Today's first trade....Going long... Entry at 1.5451
  • #252,498
  • Sep 13, 2010 1:25am Sep 13, 2010 1:25am
Quoting Xxavier
Today's first trade....Going long... Entry at 1.5451
She did not waste anytime.. Good going lady..:-)
  • #252,499
  • Sep 13, 2010 1:26am Sep 13, 2010 1:26am
Quoting dimlat
Noobie question, please - any views as to whether this early rally is a true breakout or 'trap' ?? which indicators does one look out for direction on this - TIA
Trap or not I take it, I take the break, then knowing it could be the franky move my SL to B/E once I get +20 (sometimes I take half off depending on how it feels).
  • #252,500
  • Sep 13, 2010 1:26am Sep 13, 2010 1:26am
Quoting trending
The ZUP indicator didn't capture the gartley pattern, but the confluence of fibs are pretty darn amazing .886, .618, 1,27, .786. Right to the pip.
Sorry, would you mind highlighting the pattern you're referring to here please?
I was watching a Gartley that failed to reach its D point on Friday and the latest up turn has come from that exact same D point (78.6).

I guess my question is this...when a Gartley needs two stabs at getting to its critical point D with a lower high created in the process, is the pattern still valid?

Thanks
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