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Cable Update (GBPUSD)

  • #257,621
  • Sep 30, 2010 4:22pm Sep 30, 2010 4:22pm
Quoting pawpaw1000
I see 5636 as the last swing low on h4 and 5513 on daily so until at least the H4 swing low is broken, I'd say we still heading up. Got a Higher High today even though we dropped like crazy...

Wasn't here today, went castle hopping ;-) but what a crazy day!

anyone else like to correct me?
actually, its depend on which picture u look. i am not long-term trader. i use h4 and smaller period. my h4 system is red and price is under weekly pivot.but daily is green. i think, people should choose which is suitable for urs.
  • #257,622
  • Sep 30, 2010 4:31pm Sep 30, 2010 4:31pm
Quoting pawpaw1000
I see 5636 as the last swing low on h4 and 5513 on daily so until at least the H4 swing low is broken, I'd say we still heading up. Got a Higher High today even though we dropped like crazy...

Wasn't here today, went castle hopping ;-) but what a crazy day!

anyone else like to correct me?
Well, my mind is more fundamentaly driven, I was in the same camp as nav, Geppy and eggkid but changed my bias.
Since the rumours about QE in GB I closed my longs (1.566) and searching for short levels. Today found one by thinking previous high at 1.5895 wouldn't be broken but SL was way too tight and got closed at 1.5920 and missed the whole down move. Still have to find ways to improve on this.
Staying with my bearish bias, just hope bulls can do something tomorrow for getting nice levels.
Don't be a hero. Don't have an ego. Always question yourself
  • #257,623
  • Sep 30, 2010 4:40pm Sep 30, 2010 4:40pm
Hello everyone , even im too tired of 10hour trading non stop im gonna uploud my statment for one guy on this forum , hes says im improved him trading cheers good luck ,, btw 77+pips for day my lucky number is 7 lol
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  • #257,624
  • Sep 30, 2010 4:41pm Sep 30, 2010 4:41pm
This is the only chart everyone needs to focus on right now. A few false breakouts to the top and now she has just broken out to the bottom. She will either break here or make her way back up. If she breaks low I bet 1.5500 is in the cards, and high we could see 1.7000..

Watch for sellers at 1.5730 on the retest of the trendline. Check my previous posts: Sept 26 in this thread I posted that this will be a tough trendline to break and that short would be a better bet for the time being. Everyone just kept screaming long long long and posting charts loaded with indicators and irrelevant data.

Let me quote some previous posts. Not to single anyone out and be a jerk but do you think big money that is moving the market is thinking the following:

"Precipitous 226 move Hi-Lo now today and 162% of it's 20day average pip range, so well extended....Look where it landed and garnished some new demand...a minor 1hr swing hi zone (=previous res = potential rbs)"

"Price at it's intraday Hi at 113% of it's 20day average pip zone....and 90% of it's 13 week average range."

..Or are the majority of big traders maybe watching these trendlines? You be the judge.

Trade well.
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Cap
  • #257,625
  • Sep 30, 2010 4:49pm Sep 30, 2010 4:49pm
[quote=The Captain;4063062]This is the only chart everyone needs to focus on right now.

I'm not a TA-pro, but I always wonder, why not draw the lines originating from earlier tops/bottoms which I would be inclined to do?

ps. the highest high and the lowest low on your chart
Don't be a hero. Don't have an ego. Always question yourself
  • #257,626
  • Sep 30, 2010 4:54pm Sep 30, 2010 4:54pm
[quote=USD-Bear;4063074]
Quoting The Captain
This is the only chart everyone needs to focus on right now.

I'm not a TA-pro, but I always wonder, why not draw the lines originating from earlier tops/bottoms which I would be inclined to do?

ps. the highest high and the lowest low on your chart
There are many trendlines. I have a lot more drawn but only post charts with the current relevant ones for ease of viewing. You can also see how the current ones I have drawn are being respected heavily. If you dial down to your small time frames you will see buying and selling exactly on the lines. If a line is not being respected I remove it.

Trading like this on 22 pairs has given me 1000 pip weeks, and that is with minimal screen time.
Cap
  • #257,627
  • Sep 30, 2010 4:59pm Sep 30, 2010 4:59pm
I have similar lines but the lower has been broken here already and in 3 mins the new day starts and will open below that line. I am now back to using the low from 19th May which comes in now at about 1.5508. Wide range so I hope for some action to give me a tighter trendline range.
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  • #257,628
  • Sep 30, 2010 5:00pm Sep 30, 2010 5:00pm
[quote=The Captain;4063079]
Quoting USD-Bear

There are many trendlines. I have a lot more drawn but only post charts with the current relevant ones for ease of viewing. You can also see how the current ones I have drawn are being respected heavily. If you dial down to your small time frames you will see buying and selling exactly on the lines. If a line is not being respected I remove it.

Trading like this on 22 pairs has given me 1000 pip weeks, and that is with minimal screen time.
that could cause ignoring the signals you get.
I'm not a bull but if you draw upper line from highest high, the argument could be: broken TL, pullback and now bull-moves......

But not arguing with someone who gets 1000 pips a week
Don't be a hero. Don't have an ego. Always question yourself
  • #257,629
  • Sep 30, 2010 5:05pm Sep 30, 2010 5:05pm
1.5560 tomorrow
Just my 2 cents!!!
  • #257,630
  • Sep 30, 2010 5:07pm Sep 30, 2010 5:07pm
Quoting USD-Bear

that could cause ignoring the signals you get.
I'm not a bull but if you draw upper line from highest high, the argument could be: broken TL, pullback and now bull-moves......
Anytime there is a big obvious TL like this it will slow price down.

Therefore, the argument instead should be: 1st TL broken, now 2nd TL must break to continue bull move.
Cap
  • #257,631
  • Sep 30, 2010 5:09pm Sep 30, 2010 5:09pm
Quoting babalawo
1.5560 tomorrow
Just my 2 cents!!!
9 posts in three years! Your even quieter than me!

I feel kind of honored to have seen it.
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  • #257,632
  • Sep 30, 2010 5:43pm Sep 30, 2010 5:43pm
Great eyes for Forex!!!
  • #257,633
  • Sep 30, 2010 6:27pm Sep 30, 2010 6:27pm
23.6 fib?
  • #257,634
  • Sep 30, 2010 6:30pm Sep 30, 2010 6:30pm
Shorts ready.Looking to be out before NY.
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  • #257,635
  • Sep 30, 2010 6:33pm Sep 30, 2010 6:33pm
Quoting musani
looking at 5680 bounce with my 5min MA
That was a nice bounce at 5min 4000 MA & 15min 3000 MA setup.
GELORE
  • #257,636
  • Sep 30, 2010 6:34pm Sep 30, 2010 6:34pm
Quoting chazzle
Shorts ready.Looking to be out before NY.

chazzle, would u wait till 3am to pull the trigger and load the boat?
  • #257,637
  • Sep 30, 2010 6:47pm Sep 30, 2010 6:47pm
Quoting alex1976
chazzle, would u wait till 3am to pull the trigger and load the boat?
from now to NY the plan is open,although nothing set in stone. [email protected] beyond 71% retrace of todays big move.TP about this level,depends how many positions get opened.
  • #257,638
  • Sep 30, 2010 6:56pm Sep 30, 2010 6:56pm
Quoting chazzle
from now to NY the plan is open,although nothing set in stone. [email protected] beyond 71% retrace of todays big move.TP about this level,depends how many positions get opened.
Lets hope it makes it to that second price, that's my TP
I just want to get my kicks, before the whole shit-house goes up in flames.
  • #257,639
  • Sep 30, 2010 6:58pm Sep 30, 2010 6:58pm
Quoting PugsMcGee
Lets hope it makes it to that second price, that's my TP
yes....running into some stronger resistance up there
  • #257,640
  • Sep 30, 2010 7:01pm Sep 30, 2010 7:01pm
Quoting chazzle
from now to NY the plan is open,although nothing set in stone. [email protected] beyond 71% retrace of todays big move.TP about this level,depends how many positions get opened.
You should read my posts today. Shorting this thing all the way back up the channel is foolish. Set a short here if you think it is going south, and if that fails then short from 5860 at the top TL.

You're welcome.
Cap
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