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Cable Update (GBPUSD)

  • #257,021
  • Sep 29, 2010 4:47am Sep 29, 2010 4:47am
Quoting PipChick
I noticed that too about the DX cloggie. Could be a little complicated at the moment.

Just hit and run them right now. We have the customary buying in EG with DX slowly corkscrewing down, bits of buyin of euro across the board and Sterling is just slowly meandering down, helped in part by the outflow to the EU. I am not going to look for longs at all on Cable until I see how 5777 and 5747 fair. Just scalping the shorts for now.
  • #257,022
  • Sep 29, 2010 4:47am Sep 29, 2010 4:47am
Quoting nAVIN2007
that guy yesterday screwed things up..pound is being sold..but so is dollar..so now how we supposed to know which is stronger

hence the indecision

I don't think you have too for tech trading..I just think of the instrument as 'widgets' ....may as well be cause it's all about supply and demand of 'it'.. I accept however that some other's edges include this type of info...whatever works...For me If I know where the potential support/resistance/sbr/rbs factors are I just look for the confluence based repeating set-ups/patterns that make up my trading edge and a decent price action trigger...it's that simpe. The set-up below occurred at the trend line discussed above...a 1min set-up supported by a 5min set-up...confluence again !!

G/L
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ex member
  • #257,023
  • Sep 29, 2010 4:48am Sep 29, 2010 4:48am
Quoting master4forex
thinking to find the 1.55
Why 1.5500?

Try posting a chart in your explaination.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #257,024
  • Sep 29, 2010 4:49am Sep 29, 2010 4:49am
Quoting Bull_Bear
NAV keep tearing your hair out mate and you sson go bold
nah no chance, one thing i got is a lotta hair
this PA thou is fruity

62 hrs of friggin headache this must have finished off a few

Quoting bbmac
I don't think you have too for tech trading..I just...
yip
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  • #257,025
  • Sep 29, 2010 4:50am Sep 29, 2010 4:50am
This chart is maybe more appropriate for the Euro thread, but according to the daily DX chart, we are at an important level which has caused a big reaction in the past. No guarantees it will bounce here, but it could indicate a temporary retracement in the xxx/USD pairs.
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  • #257,026
  • Sep 29, 2010 4:52am Sep 29, 2010 4:52am
Quoting PipChick
Hi Uphios,
Is this h1 HS the one you are talking about? It came pretty close to the HS target and the h4 has completed the AB=CD pattern. But price didnt test the NL (unless my NL is off a bit) so it could test it and bounce from there.
Yes I refer to your 1 hour chart H&S. However I would draw that neckline differently. I would join the points that form the head thereby giving an upsloping neckline.

This may not be correct as I rarely play an inverse H&S, but that's the way I draw it
This space intentionally left blank.
  • #257,027
  • Sep 29, 2010 4:53am Sep 29, 2010 4:53am
Quoting cloggie
Just hit and run them right now. We have the customary buying in EG with DX slowly corkscrewing down, bits of buyin of euro across the board and Sterling is just slowly meandering down, helped in part by the outflow to the EU. I am not going to look for longs at all on Cable until I see how 5777 and 5747 fair. Just scalping the shorts for now.
The DX met the AB=CD target so we need to wait to see if the DX breaches the FE 100 for further decline which will indicate a buy on the GU.
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  • #257,028
  • Sep 29, 2010 4:54am Sep 29, 2010 4:54am
Quoting Uphios
Yes I refer to your 1 hour chart H&S. However I would draw that neckline differently. I would join the points that form the head thereby giving an upsloping neckline.

This may not be correct as I rarely play an inverse H&S, but that's the way I draw it
I have always drawn an upsloping on a downward HS and a downward sloping on an inverse. Not sure which is actually correct tho.
  • #257,029
  • Sep 29, 2010 4:55am Sep 29, 2010 4:55am
Quoting uksnowman
This chart is maybe more appropriate for the Euro thread, but according to the daily DX chart, we are at an important level which has caused a big reaction in the past. No guarantees it will bounce here, but it could indicate a temporary retracement in the xxx/USD pairs.

It is the kind of chart that gets most dollar bear's knickers in a twist. Quite a few on both threads. Dixy is not showing a pretty picture, but you can't judge the future of a currency based on that alone, the markets are a bit more complex. I see the Dixy more as an economic tool and indicator then useful for currency trading on a day to day basis. Dixy purely dropped due to the equity rally and shows no direct weakening of the dollar.

It is the chicken and egg question, and the Dixy is the chicken without a head.
  • #257,030
  • Sep 29, 2010 4:55am Sep 29, 2010 4:55am
Quoting Bull_Bear
M how u mate?

Yup been pretty srewed up PA. All other major pairs was pretty smooth sailing for me yesterday except for cable. I'm sure we all took a hit so some degree mate. Stupid polly saying things that was unexpected.
me not really good mate.. missed most opportunity around this PA.. missed moments when we got straight movement.. Ah mann... tired..
  • #257,031
  • Sep 29, 2010 4:59am Sep 29, 2010 4:59am
If we wanted to be a little risky, we could trade a smaller position and trade a h1 close below the blue TL down to the NL. But it would have risk as the stochs are close to OS
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  • #257,032
  • Sep 29, 2010 4:59am Sep 29, 2010 4:59am
Quoting mloistianto
me not really good mate.. missed most opportunity around this PA.. missed moments when we got straight movement.. Ah mann... tired..
You sound very dispondent mate. Harden up its a tough game we play here.

That headline views you in very negative light. A positive maind is better than a negative one. You are the creator of yourself, remember that.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #257,033
  • Sep 29, 2010 5:00am Sep 29, 2010 5:00am
more bullet to kill bear around here.... TP 5930
not euphoria follower
  • #257,034
  • Sep 29, 2010 5:01am Sep 29, 2010 5:01am
http://www.fx1618.com/images/bull_bear_wolfewave.gif
  • #257,035
  • Sep 29, 2010 5:02am Sep 29, 2010 5:02am
http://i.telegraph.co.uk/telegraph/m...r_1559453c.jpg
  • #257,036
  • Sep 29, 2010 5:03am Sep 29, 2010 5:03am
Scalping long here because of the H1 close (long wick) and the range support just below us. Figure we might go as far as 5750 but will add there...
@pawpaw1000 on Twitter
  • #257,037
  • Sep 29, 2010 5:05am Sep 29, 2010 5:05am
This argument holds no water for me because quite clearly the

EGG

came first
  • #257,038
  • Sep 29, 2010 5:06am Sep 29, 2010 5:06am
Quoting master4forex
http://www.fx1618.com/images/bull_bear_wolfewave.gif
Mate, you're a bit strange... You post this pattern and then a bear but I think it looks alot more like this m15 chart... 3 waves down and now BULL?

I don't use these patterns but if I did, i'd be looking long?
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@pawpaw1000 on Twitter
  • #257,039
  • Sep 29, 2010 5:06am Sep 29, 2010 5:06am
Quoting Bull_Bear
Why 1.5500?

Try posting a chart in your explaination.
Mate, i dunno about shorting this now.. this is just screwed PA.. I'm still holding long from 800 and 711.. Guess what.. did not turn well.. LOL..
  • #257,040
  • Sep 29, 2010 5:06am Sep 29, 2010 5:06am
Quoting Dayboy001
This argument holds no water for me because quite clearly the

EGG

came first

So you agree with me then, I called Dixy the chicken.
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