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Cable Update (GBPUSD)

  • #257,061
  • Sep 29, 2010 7:30am Sep 29, 2010 7:30am
Quoting cloggie
Still following my plan pretty much to the pip when it comes to reversal levels. 5777 held nicely so am looking for long scalps now. 5792 and the DP are the keys here for that game plan to hold up.

It is just one of those days and I should be happy with 15-20 pip trades I guess.

Eyeballing 5808

That plan worked out nicely. Hard work today finding decent trades. I am taking it about 30 pips at a time here until we see a clearer longer term direction. Will keep a partial running on this one.
  • #257,062
  • Sep 29, 2010 7:32am Sep 29, 2010 7:32am
Quoting pawpaw1000
got in 2 pos long... targeting 5860

just take note pound strength increased but still its in a range of around 60 pips..not sure whats going on..thought u should know
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  • #257,063
  • Sep 29, 2010 7:34am Sep 29, 2010 7:34am
4hr needs to close bullish to stand a chance
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  • #257,064
  • Sep 29, 2010 7:37am Sep 29, 2010 7:37am
Quoting cloggie
That plan worked out nicely. Hard work today finding decent trades. I am taking it about 30 pips at a time here until we see a clearer longer term direction. Will keep a partial running on this one.

Back below 5808 and the DP, closed all. Looking for my next 30 pip plan here.

A good close above 5808 will see 5838, a drop below 5792 will see 5762. Those are my 2 options here. We are in a 60-80 pip range here and breaking it down in half as targets is a good strategy on days like today. Like Kill says, just hit and run. Look for the high prob trades.
  • #257,065
  • Sep 29, 2010 7:50am Sep 29, 2010 7:50am
http://img810.imageshack.us/img810/8...pusd270910.jpg
  • #257,066
  • Sep 29, 2010 8:29am Sep 29, 2010 8:29am
The traders nightmare, a market that hardly moves.
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  • #257,067
  • Sep 29, 2010 8:30am Sep 29, 2010 8:30am
agreed, but because of closing 1H candle on fibre (short fibre too) looking forward to going down... hope so...

Quoting Uphios
The traders nightmare, a market that hardly moves.
  • #257,068
  • Sep 29, 2010 8:30am Sep 29, 2010 8:30am
Quoting Uphios
The traders nightmare, a market that hardly moves.

Agreed, its been a really frustrating day
  • #257,069
  • Sep 29, 2010 8:33am Sep 29, 2010 8:33am
Quoting Uphios
The traders nightmare, a market that hardly moves.
calm before the storm !!
  • #257,070
  • Sep 29, 2010 8:37am Sep 29, 2010 8:37am
Quoting Dayboy001
calm before the storm !!

O yes,,,,,,,, and what a storm their's going to bee
  • #257,071
  • Sep 29, 2010 8:39am Sep 29, 2010 8:39am
What are you think ?
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  • #257,072
  • Sep 29, 2010 8:40am Sep 29, 2010 8:40am
ah.... just another bullet to kill more bear.... so far all is green....

plan the trade and trade the plan.... and filter the poster hahahhahhahahha

Quoting iqyu5an
more bullet to kill bear around here.... TP 5930
not euphoria follower
  • #257,073
  • Sep 29, 2010 8:41am Sep 29, 2010 8:41am
Quoting AdrianHNV
O yes,,,,,,,, and what a storm their's going to bee
I didn't think bee's liked storms?
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  • #257,074
  • Sep 29, 2010 8:42am Sep 29, 2010 8:42am
closed all short positions due to PA... stading aside

EDIT: If 4H candle closes above 5815 going long...

Quoting scurt
agreed, but because of closing 1H candle on fibre (short fibre too) looking forward to going down... hope so...
  • #257,075
  • Sep 29, 2010 8:45am Sep 29, 2010 8:45am
Quoting scurt
closed all short positions due to PA... stading aside
surprise as you were confident about your TP you our going out in just massive 10 pip up lol surprise..

Ub
  • #257,076
  • Sep 29, 2010 8:48am Sep 29, 2010 8:48am
In forex I am never confident... it is all game about probability which you ofcourse knows... I am jumping out of not because of 10 pips, but because of closing 4H candle which looks for now bullish...

many green pips to you...

edit: another reason is that we created Hhigh and there is no momentum actually so even before 4H candle looks very nice (bearish), wasnt momentum there. I am trading what I see.... thats it...


Quoting ubaidahsan
surprise as you were confident about your TP you our going out in just massive 10 pip up lol surprise..

Ub
  • #257,077
  • Sep 29, 2010 8:48am Sep 29, 2010 8:48am
Quoting ForexRookie
This is great to see, how this thread is beginning to return to its old self again.

I can see GBPUSD rising to 1.5830 (2.618 Fib level - drawn from 1.5380 up to 1.5585. Elliott Wave Theory - First Wave). If this is true, this is the 5th and final wave towards 1.5830.

Alternatively:
GBPUSD will be stuck in the 200 pip range between (1.618 and 2.618) support and resistance levels. Towards the end of the week/early next week we could see the corrective Elliott Waves beginning.
The pip range looks to be playing out this week. Market has been too choppy for carry trades.
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"The trend is your friend, until the end."
  • #257,078
  • Sep 29, 2010 8:48am Sep 29, 2010 8:48am
Quoting Uphios
I didn't think bee's liked storms?
In general no they don't, cause most of them is small.......

But
  • #257,079
  • Sep 29, 2010 8:56am Sep 29, 2010 8:56am
Quoting scurt
In forex I am never confident... it is all game about probability which you ofcourse knows... I am jumping out of not because of 10 pips, but because of closing 4H candle which looks for now bullish...

many green pips to you...

edit: another reason is that we created Hhigh and there is no momentum actually so even before 4H candle looks very nice (bearish), wasnt momentum there. I am trading what I see.... thats it...
agree with you bro i also closed my short and longs both and waiting for a breakout of 5815 or 5770 level to trade again good luck and have a good day

Ub
  • #257,080
  • Sep 29, 2010 8:56am Sep 29, 2010 8:56am
Would have been nice to jump in short. I say still is but just not at the top of TL.
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Veni, Vidi, Vici (We came, we saw, we conquered)
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