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Cable Update (GBPUSD)

  • #255,381
  • Sep 23, 2010 7:22am Sep 23, 2010 7:22am
beginning my shorts-15680
  • #255,382
  • Sep 23, 2010 7:25am Sep 23, 2010 7:25am
Quoting Bull_Bear
Ub mate a couple of things to keep in mind when drawing TL:

1. The origin of the TL is a significant Support or Ressistance (this rule is very important for TL integrity).
2. Forms a min of 2 touches
3. With previously broken TL, they must be longer term and heavily supported by support/resistance at the origin.

If you put the above rules in practice and continually question your TL integrity by looking for supporting factors like Fibs, pivots and suport/resistance.

I hope that helps you mate.
thanks brother for your advice i will follow it from now..hope this week i will gain money for milk in beer with you.. i am also buying on dips..holding one long which was triggered on shakeout.

Good luck

Ub
  • #255,383
  • Sep 23, 2010 7:28am Sep 23, 2010 7:28am
Quoting chazzle
beginning my shorts-15680
Damn. That's looking like a good entry. I thought to wait a bit because the bulls looked to have a little more strength about them, maybe 1.5700 again.

Hope I have not missed this boat.
This space intentionally left blank.
  • #255,384
  • Sep 23, 2010 7:31am Sep 23, 2010 7:31am
Quoting samirb
Good day bro..
Thanks for your appreciation.

I do feel one last shakeout where your pending order gets filled at 15580 to 15600 before we fly..
because there is some single prints left in last days profile..
I maybe wrong and we can fly without breaking today`s low.. but my view is we will kiss that before we fly.. lets see.

Good luck with you trade bro
Regards
If she flys now, I will enter at the trigger point, but I think she will bounce around a bit more before the storm.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #255,385
  • Sep 23, 2010 7:42am Sep 23, 2010 7:42am
Well, i guess this fibo which is drawn within the 4hr TF can be use as valid s & r levels for the 1h TF.. Hope that helps anyone who has the difficulty to draw s & r

To see if the fibo is valid, watch how every lines of the fibo reacts to the PA..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.gif Size: 37 KB
Click to Enlarge Name: chart1.gif Size: 32 KB
  • #255,386
  • Sep 23, 2010 7:42am Sep 23, 2010 7:42am
Clearly some demand leading down to 5660 as pullback from current 5706 highs has based there (for now?) ...just short of the 50% of the intraday rise from 5610 lo.

1hr screenshot is below

G/L

http://www.easy-upload.net/fichiers/z.2010923144225.gif
ex member
  • #255,387
  • Sep 23, 2010 7:43am Sep 23, 2010 7:43am
With disappointing jobs data out, and existing home sales data left to come out, seems GBP is preparing for a tumble south.... maybe time to get those shorts ready
  • #255,388
  • Edited 8:11am Sep 23, 2010 7:44am | Edited 8:11am
Charts have'nt changed much since yesterday. Same plan:

Correction: Suppose to read a h1 close above 5727 not 5227.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 34 KB
  • #255,389
  • Sep 23, 2010 7:48am Sep 23, 2010 7:48am
es is under 1120 cable dont no where to go market waiting for home sales dixy needs to break under 80 for a nice push above 15720 then longs we eat some candy other wise we are stuck enjoy the ride
  • #255,390
  • Sep 23, 2010 8:14am Sep 23, 2010 8:14am
A 'battle royal' between the bulls and bears in this congestion zone...but the 1hr master bullish engulfing candle discussed earlier seemed to be significant...seems the bulls have regained control (for now) after the pullback to 5660.

I wonder how many participants are waiting for a 'range/congestion' breakout or even a b/o and a pullback ??

G/L
http://www.easy-upload.net/fichiers/z.2010923151429.gif
ex member
  • #255,391
  • Sep 23, 2010 8:15am Sep 23, 2010 8:15am
Quoting chazzle
beginning my shorts-15680
Hi Chazzle. At what price will you add to your shorts?
  • #255,392
  • Edited 8:31am Sep 23, 2010 8:20am | Edited 8:31am
Quoting PipChick
Hi Chazzle. At what price will you add to your shorts?
15705
av. now 15693
pending 15725,15745

looking for between 0.2%-0.3% equity increase,as usual

making the target at present 15678-15683

always a chance I will wimp out and take breakeven/small loss
  • #255,393
  • Sep 23, 2010 8:24am Sep 23, 2010 8:24am
Quoting bbmac
A 'battle royal' between the bulls and bears in this congestion zone...but the 1hr master bullish engulfing candle discussed earlier seemed to be significant...seems the bulls have regained control (for now) after the pullback to 5660.

I wonder how many participants are waiting for a 'range/congestion' breakout or even a b/o and a pullback ??

G/L
http://www.easy-upload.net/fichiers/z.2010923151429.gif
i have been missed you , you did not posted your report for 15 minutes i tought you are dead
  • #255,394
  • Sep 23, 2010 8:26am Sep 23, 2010 8:26am
GU possibility:
US mkt opens shortly. US data in 34 min.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 15.gif Size: 20 KB
  • #255,395
  • Sep 23, 2010 8:31am Sep 23, 2010 8:31am
Quoting chazzle
15705
av. now 15693
pending 15725,15745

looking for between 0.1%-0.15% equity increase,as usual

making the target at present 15678-15683

always a chance I will wimp out and take breakeven/small loss
Ohhh TY. So you add to your position about every 10 pips?
  • #255,396
  • Sep 23, 2010 8:33am Sep 23, 2010 8:33am
took small hit of 0.1%...price looks too steady at these levels for my liking
  • #255,397
  • Sep 23, 2010 8:34am Sep 23, 2010 8:34am
Quoting PipChick
Ohhh TY. So you add to your position about every 10 pips?
sorry-I edited my post no place orders 20-30 pips apart
  • #255,398
  • Sep 23, 2010 8:35am Sep 23, 2010 8:35am
Quoting chazzle
sorry-I edited my post no place orders 20-30 pips apart
Ohhh OK. TY
  • #255,399
  • Sep 23, 2010 8:40am Sep 23, 2010 8:40am
Start again from 15700 (short that is)
  • #255,400
  • Sep 23, 2010 8:42am Sep 23, 2010 8:42am
Quoting Bull_Bear
If she flys now, I will enter at the trigger point, but I think she will bounce around a bit more before the storm.
There is going to be no flying. DIX is at a demand level and below that are several more demand levels.

Attached Image


The path of least resistance is up on DIX. If anything we will be ranging for a while maybe heading downwards in GU and EU.

We shall see what happens, but to be honest I can't see any flying. The threat of QE2 is now priced into the $, although if the Fed actually do it, we will probably see more $ weakening... certainly not £ strengthening.

All have a good day. I have now got my meet with the big(ish) cheese.

P.S. This is based on the daily charts!
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