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Cable Update (GBPUSD)

  • #253,701
  • Sep 16, 2010 9:55am Sep 16, 2010 9:55am
Quoting USD-Bear
Longs @ 1.5430
SL 1.5325 (long term positions (I hope))
Target 1.6000

D1:
Attachment
Moved SL'ses to BE
Don't be a hero. Don't have an ego. Always question yourself
  • #253,702
  • Sep 16, 2010 9:56am Sep 16, 2010 9:56am
Quoting USD-Bear
I guess it did, now lets target 1.5652
1,5666 here
COT: The precious data ignored
  • #253,703
  • Sep 16, 2010 9:56am Sep 16, 2010 9:56am
Quoting dr.alamir
the eu is up or down now dil?

it is too choppy.

cant say anything now ... i finished my trading how you doing?
  • #253,704
  • Sep 16, 2010 10:03am Sep 16, 2010 10:03am
Quoting kuroro001
1,5666 here
yes that's better, don't want a double top here, PA very nervous though....
Don't be a hero. Don't have an ego. Always question yourself
  • #253,705
  • Sep 16, 2010 10:06am Sep 16, 2010 10:06am
Quoting dil
cant say anything now ... i finished my trading how you doing?
shorting it from 92 , target 32 pips.

hope it works , ur bro amir.
  • #253,706
  • Sep 16, 2010 10:07am Sep 16, 2010 10:07am
And now back to roll over....

Will it hold as support?

Watching for a long trigger, no assumptions here....
Attached Image (click to enlarge)
Click to Enlarge Name: b2o.jpg Size: 146 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #253,707
  • Sep 16, 2010 10:07am Sep 16, 2010 10:07am
A patient waiting game...who blinks? hehe
Our beliefs are based on logic and the pursuit of clearity.
  • #253,708
  • Sep 16, 2010 10:12am Sep 16, 2010 10:12am
Quoting Magix
And now back to roll over....

Will it hold as support?

Watching for a long trigger, no assumptions here....
gbpusd is preparing for big move but
going in up direction still not confirmed.while the uptrend
atomsphere is surrounding the market.
for me big movement in up direct still not confirmed.
A little beginner trader since 2006
  • #253,709
  • Sep 16, 2010 10:15am Sep 16, 2010 10:15am
Quoting Naseri13
gbpusd is preparing for big move but
going in up direction still not confirmed.while the uptrend
atomsphere is surrounding the market.
for me big movement in up direct still not confirmed.
With ya there brother....
http://www.forexfactory.com/showthre...60#post3973560

Chart goes back a few weeks now.
Attached Image (click to enlarge)
Click to Enlarge Name: consolidation.jpg Size: 84 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #253,710
  • Sep 16, 2010 10:17am Sep 16, 2010 10:17am
Quoting nAVIN2007
i can see why cloggie gets cheesed off now..


Talking of which where is cloggie?

Hope your having a good day wherever you are.
  • #253,711
  • Sep 16, 2010 10:32am Sep 16, 2010 10:32am
15615 is sideways break level
if breaks up buy for 20 pips if breaks down sell for 20 pips.
A little beginner trader since 2006
  • #253,712
  • Edited 10:49am Sep 16, 2010 10:38am | Edited 10:49am
15 min tf bearish butterfly at 5650, don't get too excited when the price gets there.

Sorry already happened something wrong with my feed left it on to watch tv.
  • #253,713
  • Sep 16, 2010 10:39am Sep 16, 2010 10:39am
Quoting Magix
And now back to roll over....

Will it hold as support?

Watching for a long trigger, no assumptions here....
Hi Magix

Since I use the noLag system thought I would give you an update. I have got to be the worlds worst at scalping but today I seem to be getting it ... Finally!! Placed 5 trades this morning and took profit on the buys totaling 28.50 pips and one loss on a sell for -17.80. So still in profit and now waiting for that long trigger also. Not even going to try and buy the dips again ... at least not today

Thanks to Magix and all who have probably unknowingly helped me on my journey!

Good Luck!
  • #253,714
  • Sep 16, 2010 10:40am Sep 16, 2010 10:40am
Still holding 5590, half position closed at 5645...
if the upward TL will be broken on H4 going short, if new high is made will add to longs... looking at 1.5700-1.6


Quoting scurt
still bullish on cable, holding position from 5590, and 5612...
H1, H4 looks 100% bullish, we are after bad news stil above DP, even H1 dont close below DP. Looking for 5690 as a final target. On 5650 will close part of position and set SL to BE
  • #253,715
  • Sep 16, 2010 10:41am Sep 16, 2010 10:41am
Quoting Capn79
So with this compression and then explosion to the upside, we should then see lots of C's as we climb higher? Would the explosion to the upside be more attributable to the Goldman Sachs announcement yesterday?

Thoughts?

Thank you

Could be. Anything can cause anything, but there really hasn't been
any explosion yet.... not based on a 4H compression pattern. It's still
in a tight formation. These earlier up moves including yesterday's GS
news... have each helped with the compression formation; the first
move before yesterday to the upside was 9/14 13:00 GMT for 185 pips
during the late LDN - early NY session then followed by the 55 pips (9/15
10:30 GMT) and finally the 100 pips (9/15 14:15 GMT). That might have
been due to the GS news release.


Even the 100 pip move (if it was triggered by breaking news) still had
a lower TF that was primed in a C- pattern. Doesn't always coincide
but when it does it gives more push (or energy) to the move. As you
said, with any big sustained move off of a larger TF there will most
always be C-patterns off of the smaller TFs lending their energies
to the move. Smaller waves building larger.

Dr. D.
Attached Image
  • #253,716
  • Sep 16, 2010 10:42am Sep 16, 2010 10:42am
Quoting AllyB
Hi Magix

Since I use the noLag system thought I would give you an update. I have got to be the worlds worst at scalping but today I seem to be getting it ... Finally!! Placed 5 trades this morning and took profit on the buys totaling 28.50 pips and one loss on a sell for -17.80. So still in profit and now waiting for that long trigger also. Not even going to try and buy the dips again ... at least not today

Thanks to Magix and all who have probably unknowingly helped me on my journey!

Good Luck!
Choppy days like this can easily eat away at not only profits but your account as well...

With the nolag, and like the chart I posted previously, there are other factors involved. Daily roll, topside resistance, bottom side support...all of the time frames.

Good that you are still in the green..

Scalping does take a while to get the feel...take a look at all of the charts I use for just cable alone. Patience, persistence and perseverance enough to piss a hole in a rock.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #253,717
  • Sep 16, 2010 10:44am Sep 16, 2010 10:44am
Quoting Magix
With ya there brother....
http://www.forexfactory.com/showthre...60#post3973560

Chart goes back a few weeks now.
thank you for clarifation
A little beginner trader since 2006
  • #253,718
  • Sep 16, 2010 10:50am Sep 16, 2010 10:50am
Hi everyone-I am new here and great to find other traders of cable.I have been trading FX for 1 year and 1 month,almost all of my trades are GBPUSD.I lost for 10 months before I got the hang of it!Now winning since the last 3 and plan to continue...
  • #253,719
  • Sep 16, 2010 10:59am Sep 16, 2010 10:59am
Quoting Naseri13
15615 is sideways break level
if breaks up buy for 20 pips if breaks down sell for 20 pips.
Fake broke down, I think. NOW UP!!
  • #253,720
  • Sep 16, 2010 10:59am Sep 16, 2010 10:59am
Quoting Magix

Good that you are still in the green..

Scalping does take a while to get the feel...take a look at all of the charts I use for just cable alone. Patience, persistence and perseverance enough to piss a hole in a rock.

Now that is funny! But yea, so true. Daily roll, topside resistance, bottom side support...all of the time frames is what has made the big difference for me. It's like I am finally seeing the BIG picture without squinting . I am pretty quiet on here but I think you will hear more from me in the way of questions. Usually I have found that if I wait long enough someone will ask or answer it without me having to sound dumb LOL.

Onward through the fog as us pilots like to say
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