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Cable Update (GBPUSD)

  • #257,721
  • Oct 1, 2010 3:32am Oct 1, 2010 3:32am
Quoting Indyfx
Hi Dag,

I thought you might find this helpful. If you look at the hourly chart over the last week or so 5800 is a key resistance level. This is a level that has been in place for a long long time if you look at the 4 hour chart. I actually have 5804 which is close enough

I bought at 5778 after the 5 min had a strong close above my last resistance level of 5769 which was just above the Daily Pivot
Hello Indyfx,

yes, maybe bailed too early,
but after yesterdays drawdown i´m happy i could close with -2,
i did a long this morning from 1.5721 which compensated the bad trade.
my result from yesterday posted trades was 14, 19 and -2.
Poor trading(day), today start was much better,
wish you many greenies
  • #257,722
  • Oct 1, 2010 3:33am Oct 1, 2010 3:33am
cable 111pips off the current intraday low now and above the 50% of the 5921-5669 fall...currently testing the previous 1hr swing lo zone with underside of breeched 1hr ascending trend line.

G/L
Attached Image
ex member
  • #257,723
  • Oct 1, 2010 3:33am Oct 1, 2010 3:33am
Quoting dag777
Hi nAV,

yesterday i was the stupid retailer,
by open a long pos. 9 pips under dp (in daily downtrend),
checked off and next one.
Will keep cloggies advice not to marry a pos.
and stay flexible for the bias.

have a nice trading day, buddy
actually i wont say stupidty..its not fair, we simply dont have the same resources and the same power to move the market..yesterday was impossible..nobody i believe can blame themselves for being caught

if yur a scalper and able to simply go with it..then it wont have posed any issue..myself i came so close to closing out..but then i said to myself..if i do anything now im being emotional..i have to wait and see what the closes offer..

have a great day
  • #257,724
  • Oct 1, 2010 3:33am Oct 1, 2010 3:33am
Time to wager a few bucks on a short.
  • #257,725
  • Oct 1, 2010 3:34am Oct 1, 2010 3:34am
Quoting Dayboy001
Bad UK news but dollar looks weak across the board !!
Rumour is that Asian Central Banks are buying dollars to keep their currencies weak and as nobody really wants to hold dollars at this time they are on a buying spree on the crosses.

News is not driving this, nor are the techies, this is rebalancing on a global scale.
  • #257,726
  • Oct 1, 2010 3:37am Oct 1, 2010 3:37am
Quoting wormboy
a trader who can ackowledge his mistakes is not stupid, just careless.
a trader who points to stop hunts, the new world order & the blair witch for his own mistakes is stupid.

you're not stupid in my books
Good Morning Wormie,

many thx, for the kind words, have great day, mate.
  • #257,727
  • Oct 1, 2010 3:38am Oct 1, 2010 3:38am
Could October be a 1000 pip month?

certainly hope so after those knocks in september

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Mind over matter..I don't mind and you don't matter.
  • #257,728
  • Oct 1, 2010 3:43am Oct 1, 2010 3:43am
Quoting cloggie
Rumour is that Asian Central Banks are buying dollars to keep their currencies weak and as nobody really wants to hold dollars at this time they are on a buying spree on the crosses.

News is not driving this, nor are the techies, this is rebalancing on a global scale.

the dollar is unbelieveable..i remember me and azim trying to dollar bulls..we got killed..i reckon we both gave up!

the mofo still doing same old tricks
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  • #257,729
  • Oct 1, 2010 3:45am Oct 1, 2010 3:45am
Quoting pepper
Time to wager a few bucks on a short.
Going against this strong up move. No confirmation of a sell yet.
  • #257,730
  • Oct 1, 2010 3:46am Oct 1, 2010 3:46am
Hi All

Took the plunge into LIVE trading yesterday and what a day to pick!! I failed miserably

I learnt so much though so on reflection I am really happy about that. I am 86 pips up today and moved my SL to retain some profit if the market turns on me like yesterday.
Enter Signature
  • #257,731
  • Oct 1, 2010 3:47am Oct 1, 2010 3:47am
Quoting nAVIN2007
..myself i came so close to closing out..but then i said to myself..if i do anything now im being emotional..i have to wait and see what the closes offer..

have a great day
When i saw the shake out yesterday i shut down and went to the pub

I could see from my phone that my long had gone to almost 100 in the water but i just bought a round and went straight to bed afterwards.

guess sometimes it's all about risk reward

a 200 risk can easily yield 1000 on gu
Mind over matter..I don't mind and you don't matter.
  • #257,732
  • Oct 1, 2010 3:50am Oct 1, 2010 3:50am
Quoting nAVIN2007
the dollar is unbelieveable..i remember me and azim trying to dollar bulls..we got killed..i reckon we both gave up!

the mofo still doing same old tricks

3672 is the longterm key on fibre, that's why it is attracting so much attention today. Once the dollar gives up on this level we are looking at a major correction for the rest of the year and I can see 1.66 on Cable and 1.46 on fibre.

Asian countries are getting worried now with their own currencies appreciating and they are starting to diversify out of dollar holdings

We'll see, unlike you I decided not to position trade this season and just play the intraday. We are seeing a fundamental shift in the making when it comes to long term holdings, unless the yields improve in the US that is not going to change.
  • #257,733
  • Oct 1, 2010 3:52am Oct 1, 2010 3:52am
some supply has emerged @ the underside of that broken 1hr ascending trend line, but price remains buoyed so far...

G/L
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ex member
  • #257,734
  • Oct 1, 2010 3:53am Oct 1, 2010 3:53am
Pivots are quite wide today after the large move yesterday. Cloggie what intermediate levels do you have for today?
  • #257,735
  • Oct 1, 2010 3:54am Oct 1, 2010 3:54am
Quoting nAVIN2007
the dollar is unbelieveable..i remember me and azim trying to dollar bulls..we got killed..i reckon we both gave up!
no i didn't


i know where this mofo's headed

Quoting wormboy
I still see down for dx in the long run bro, possibly to 76 level. That 1.7 cable is coming, just a question of timing
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Thank You
  • #257,736
  • Oct 1, 2010 3:58am Oct 1, 2010 3:58am
Quoting uksnowman
Pivots are quite wide today after the large move yesterday. Cloggie what intermediate levels do you have for today?

I still got yesterday's numbers, they apply for today too.

Here I got 5777 and 5808 as range for reversal/continuation, to the top I have 5838 and on the bottom is the DP and 5747. With yesterday's plays around these levels to the pip, they remain valid at least for the London session.

So intermediate is 5808 for 5838 and 5777 for 5747.

I am mainly focusing on fibre today. There I have 3731 as the next one, followed by 3768
  • #257,737
  • Oct 1, 2010 4:00am Oct 1, 2010 4:00am
Quoting cloggie
I still got yesterday's numbers, they apply for today too.

Here I got 5777 and 5808 as range for reversal/continuation, to the top I have 5838 and on the bottom is the DP and 5747. With yesterday's plays around these levels to the pip, they remain valid at least for the London session.

So intermediate is 5808 for 5838 and 5777 for 5747.

I am mainly focusing on fibre today. There I have 3731 as the next one, followed by 3768
870 top of the pile. how about you my friend?
Thank You
  • #257,738
  • Oct 1, 2010 4:01am Oct 1, 2010 4:01am
September Monthly candle body did not quite engulf August's..but bullish nonetheless...Weekly will do well not to close bearish ?

G/L
Attached Image
ex member
  • #257,739
  • Oct 1, 2010 4:02am Oct 1, 2010 4:02am
Quoting wormboy
870 top of the pile. how about you my friend?

We are very close, I have 861
  • #257,740
  • Oct 1, 2010 4:03am Oct 1, 2010 4:03am
Quoting cloggie
We are very close, I have 861
alrighty.
that 9 pips is worth 10 rounds of beer for us
Thank You
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