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Cable Update (GBPUSD)

  • #256,121
  • Sep 27, 2010 2:50am Sep 27, 2010 2:50am
anyone else experience 10-15 pip spike up few min ago?
  • #256,122
  • Sep 27, 2010 2:51am Sep 27, 2010 2:51am
Quoting Naseri13
Good job man, doing well but I have too short pos

5816
5812

I will close them soon
5816
5812
another 5833

totally 3% risk

lets see what happen
sl 5850 - 55
A little beginner trader since 2006
  • #256,123
  • Sep 27, 2010 2:56am Sep 27, 2010 2:56am
Quoting Naseri13
5816
5812
another 5833

totally 3% risk

lets see what happen
sl 5850 - 55
Are you trading many trades a day sir ?
  • #256,124
  • Sep 27, 2010 3:03am Sep 27, 2010 3:03am
Quoting Naseri13
5816
5812
another 5833

totally 3% risk

lets see what happen
sl 5850 - 55
With a false downside break of the recent 1hr consolidation range 5843-5802...and now a bullish 1hr candle close back toward the top of that range...both taking the shorts before that 1hr close and then adding was not a hi-probability trade as more upside is clearly favoured now...whether your trades work out or not (and good luck with them) I think the higher probability lies with the upside..whether this tunrns out to be the case or not in actuality. You may get saved by residual supply in the previous 1hr swqing hi zone leading up to the current 5843 trend highs, Mni also suggesting that what they are calling 'stronger supply' exists @ 5850/60 ? suggesting a stop run on those highs ??

Anyways G/L
ex member
  • #256,125
  • Sep 27, 2010 3:04am Sep 27, 2010 3:04am
will see 5887 soon .. i got no valid setup for shorting..
  • #256,126
  • Sep 27, 2010 3:08am Sep 27, 2010 3:08am
Quoting clientfx
will see 5887 soon .. i got no valid setup for shorting..

Similarly I currently have no valid hi-probability set-up to warrent a short but the 5834-43 zone clearly has held supply... and the area up to 5876 is still that previous daily t/f swing lo = previous support=potential sbr zone....I am interested too in Mni suggesting stronger supply likely 5850/60...

Anyways time will tell.

G/L
ex member
  • #256,127
  • Sep 27, 2010 3:12am Sep 27, 2010 3:12am
Quoting bbmac
Similarly I currently have no valid hi-probability set-up to warrent a short but the 5834-43 zone clearly has held supply... and the area up to 5876 is still that previous daily t/f swing lo = previous support=potential sbr zone....I am interested too in Mni suggesting stronger supply likely 5850/60...

Anyways time will tell.

G/L

Price is trumpeting like last friday. I'll be cautious even if it goes up.
  • #256,128
  • Sep 27, 2010 3:13am Sep 27, 2010 3:13am
A 4th 1hr rejection of the highs would likely be viewed as bearish ??

G/L
Attached Image
ex member
  • #256,129
  • Sep 27, 2010 3:14am Sep 27, 2010 3:14am
Quoting Dayboy001
Closed 1/2 @ 1.5820 for 1% gain

moved SL to B/E
good trade

I got in a little after you and got out a little before you..........

Had to go make a cuppa tea with of course some honey ...............
  • #256,130
  • Sep 27, 2010 3:16am Sep 27, 2010 3:16am
Opend: 1.5796 - Got out 1.5826.
Still have 1 open, with SL @ BE

It seems to have a hard time breaking that 1.5834-1.5843 zone.
  • #256,131
  • Sep 27, 2010 3:17am Sep 27, 2010 3:17am
CommerzBank weighing in with a 'buy on dips to 5550/30, stops under 5475' recommendation, targetting 6400+

G/L
ex member
  • #256,132
  • Sep 27, 2010 3:20am Sep 27, 2010 3:20am
Quoting AdrianHNV
good trade

I got in a little after you and got out a little before you..........

Had to go make a cuppa tea with of course some honey ...............
My SL is now at B/E which makes it easy but my trade plan is:

close 1/4 of trade at 1.5840 securing another 1%

leave remaining 1/4 with TP of 1.59

currently secured 1%
1.5840 will secure 2% (1% + 1%)
1.59 will secure an additional 2.5% totalling 4.5%

for a 2% risk and moving to a quick B/E
  • #256,133
  • Sep 27, 2010 3:29am Sep 27, 2010 3:29am
Quoting Dayboy001
My SL is now at B/E which makes it easy but my trade plan is:

close 1/4 of trade at 1.5840 securing another 1%

leave remaining 1/4 with TP of 1.59

currently secured 1%
1.5840 will secure 2% (1% + 1%)
1.59 will secure an additional 2.5% totalling 4.5%

for a 2% risk and moving to a quick B/E
Good luck

I've gone back to scalping for a while...

Will wait for either the next direction to 'show itself' or possibly wait for US to start...... either way I' know there are pips to be had and I want them
  • #256,134
  • Sep 27, 2010 3:36am Sep 27, 2010 3:36am
Quoting Naseri13
Good job man, doing well but I have too short pos

5816
5812

I will close them soon
also got 2 shorts... 5827 and 5830... s/l 5853 t/p 5750...
@pawpaw1000 on Twitter
  • #256,135
  • Sep 27, 2010 3:37am Sep 27, 2010 3:37am
I wonder whether we will see any breakout of the range players adding to upside presure if 5843 Hi goes ? A pullback to the range from above and 2nd b/o may be the preferred plan for some, should upside presist. 2nd b/o is generally the truer breakout.

Clearly supply at these levels leading up to the 5843 Hi...is there sufficient demand to absorb it ??

G/L
ex member
  • #256,136
  • Sep 27, 2010 3:44am Sep 27, 2010 3:44am
The right-angled and descending broadening chart pattern is the worst performing chart pattern in a bull market. The break even failure rate is high and the average rise is meager. This is not a chart pattern you'll want to curl up with at night and dream about unless you like losing money.

From the patternsite.com

EDIT: H1 CHART not M15
@pawpaw1000 on Twitter
  • #256,137
  • Sep 27, 2010 3:46am Sep 27, 2010 3:46am
Will possibly get a definitive direction after this

2:00pm EUR ECB President Trichet Speaks
  • #256,138
  • Sep 27, 2010 3:51am Sep 27, 2010 3:51am
Quoting AdrianHNV
Will possibly get a definitive direction after this

2:00pm EUR ECB President Trichet Speaks
How do you think this will affect this pair?
  • #256,139
  • Sep 27, 2010 3:55am Sep 27, 2010 3:55am
Quoting AdrianHNV
Will possibly get a definitive direction after this

2:00pm EUR ECB President Trichet Speaks
A little beginner trader since 2006
  • #256,140
  • Sep 27, 2010 3:58am Sep 27, 2010 3:58am
Buy_stop@1,5840 sl5786 tp1 5880, tp2-5920, tp3 1,6

reasons:
above DP
all MA`s supporting upmove and we are in uptrend
4H candle refuse pullback

EDIT:BUY_STOP Proceeded....

Quoting scurt
Good morning to all,

waiting for breakout the range... but will wait for good confirmation on higher TF, cable like to have 1st breakout false
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