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Cable Update (GBPUSD)

  • #254,541
  • Sep 21, 2010 2:22am Sep 21, 2010 2:22am
Quoting pawpaw1000
hehe

Heya Delite, seems we have just broken this lil box South... Got pending sell to try get a good entry...

I have NO IDEA where we are going, just letting PA show me...

I know - my problem is which ever way she breaks I can see about a million reasons not to take the trade - monthly pivot, the lows described by bbmac above etc.

Where is your sell order set?
  • #254,542
  • Sep 21, 2010 2:24am Sep 21, 2010 2:24am
Quoting Delite
I know - my problem is which ever way she breaks I can see about a million reasons not to take the trade - monthly pivot, the lows described by bbmac above etc.

Where is your sell order set?
Sorry, edited as it happened... got in at 5560, s/l 5570 (as this would negate break) and tp at 5485...

Got training now
@pawpaw1000 on Twitter
  • #254,543
  • Sep 21, 2010 2:28am Sep 21, 2010 2:28am
Quoting wormboy
right, so the day closed bearish & price on the ltf are well below the d1, w1 & monthly pvp. Rightfully so, intraday I'll treat any upmove as retrace & will look for opportunity to sell. Let's see if we'll get a dp test @5588 for a short or we straightaway break previous day low @5535.

good luck.
and we got the dp test. for now, sell rallies.
good luck.
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Thank You
  • #254,544
  • Sep 21, 2010 2:29am Sep 21, 2010 2:29am
to many technical analysis.. pls remember guy...forex it not based on technical analysis.. forex if based on fundamental ....most of time technical analysis not working.... .. i prefer sell..............heheh
  • #254,545
  • Sep 21, 2010 2:29am Sep 21, 2010 2:29am
This daily previous near-term fractal swing hi (= potential rbs) zone probably stretches down to 5470...below current price are 2 x fibs @ 5513/11 being 76.4% 5448-5728 with 50% 5296-5728. Below there 61.8% of 5347-5728 is @ 5493, with 61.8% of 5296-5728 @ 5459

Price challenging yesterday's lows now.

G/L
ex member
  • #254,546
  • Sep 21, 2010 2:32am Sep 21, 2010 2:32am
Quoting master4forex
to many technical analysis.. pls remember guy...forex it not based on technical analysis.. forex if based on fundamental ....most of time technical analysis not working.... .. i prefer sell..............heheh
Rubbish
ex member
  • #254,547
  • Sep 21, 2010 2:36am Sep 21, 2010 2:36am
When it comes to the LO should I really stop over analysing points of S/R? Once the direction has been set, does it tend to keep moving with little regard for S/R levels? Do these really only come into play later in the day?

As I posted earlier, I could see a lot of hurdles facing the price which ever way she broke, but is that really relevant at this point in the trading day?
  • #254,548
  • Sep 21, 2010 2:37am Sep 21, 2010 2:37am
very aggressive pound sales going on........it broke monthly and weekly pivot then used them as resistance. 5405 may be next stop
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  • #254,549
  • Sep 21, 2010 2:39am Sep 21, 2010 2:39am
Quoting alex1976
Purple, I have my stop around 617, so its 50 pips.

and my limit is 100 pips.

My limit is exactly same as yours.. I am happy with 1000USD profit ...!!

And what is more good is we both can move our SL comfortably to BE for news release and sit back and watch everyone else going long.

Alex you are my new best friend on internet.. lol

Dont close prematurely my friend... ride the whole ride today man.. its good to risk 400USD profit for a chance to get 1500 USD by the end of trading day...
  • #254,550
  • Sep 21, 2010 2:40am Sep 21, 2010 2:40am
It looks like 1.50 can fall...
  • #254,551
  • Sep 21, 2010 2:41am Sep 21, 2010 2:41am
Bounced off that 50 fib. How low can she go? That daily pinbar is the stuff of dreams.......
  • #254,552
  • Sep 21, 2010 2:42am Sep 21, 2010 2:42am
no regrets we are close to h4 ema200 still east is the way of salvation
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  • #254,553
  • Sep 21, 2010 2:44am Sep 21, 2010 2:44am
Quoting Delite
When it comes to the LO should I really stop over analysing points of S/R? Once the direction has been set, does it tend to keep moving with little regard for S/R levels??
more often than not, yes. the london momentum usually sets the tone for the day.

good luck
Thank You
  • #254,554
  • Sep 21, 2010 2:46am Sep 21, 2010 2:46am
Quoting bbmac
This daily previous near-term fractal swing hi (= potential rbs) zone probably stretches down to 5470...below current price are 2 x fibs @ 5513/11 being 76.4% 5448-5728 with 50% 5296-5728. Below there 61.8% of 5347-5728 is @ 5493, with 61.8% of 5296-5728 @ 5459

Price challenging yesterday's lows now.

G/L
Price finding some support round those fibs and Mni calling 5510/00 interim demand only ahead of stronger interest to 5480 ?....Certainly intraday sentiment has turned bearish from neutral-bullish...1hr/4hr in downtrends.

G/L
ex member
  • #254,555
  • Sep 21, 2010 2:48am Sep 21, 2010 2:48am
Quoting mfoste1
very aggressive pound sales going on........it broke monthly and weekly pivot then used them as resistance. 5405 may be next stop
Indeed, extreemly weak even without USD influence.
Getting back to daily 1.542-1.543 next POI

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Don't be a hero. Don't have an ego. Always question yourself
  • #254,556
  • Sep 21, 2010 2:51am Sep 21, 2010 2:51am
Good day U'all... WormBoy thanks for your insight. But I will have to say the FOREX world is all Fundamentals. If the GBP news(Public Lending) at 9.30 is very bad. We will see a good drop to 1.5363 Support-levels. So I keep my fingers crossed.

I've closed all my LONGs and wait for a good entry for SHORT @1.5541
  • #254,557
  • Sep 21, 2010 2:55am Sep 21, 2010 2:55am
Quoting Reznik
Good day U'all... WormBoy thanks for your insight. But I will have to say the FOREX world is all Fundamentals. If the GBP news(Public Lending) at 9.30 is very bad. We will see a good drop to 1.5363 Support-levels. So I keep my fingers crossed.

I've closed all my LONGs and wait for a good entry for SHORT @1.5541

Down... The London Session will produce a good test for alot of Support-level(Lines), if and only if the GBPnews(Public Lending) is very bad. Remember "The trend is your Friend"
  • #254,558
  • Sep 21, 2010 2:56am Sep 21, 2010 2:56am
That is why i love my 1min 1440 MA
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GELORE
  • #254,559
  • Sep 21, 2010 2:56am Sep 21, 2010 2:56am
I love this shit!!
  • #254,560
  • Sep 21, 2010 2:58am Sep 21, 2010 2:58am
Quoting alex1976
I love this shit!!
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