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Cable Update (GBPUSD)

  • #257,881
  • Oct 1, 2010 8:50am Oct 1, 2010 8:50am
Quoting zoom
58029 sorry

!
Oh,I was wrong...
  • #257,882
  • Oct 1, 2010 8:50am Oct 1, 2010 8:50am
Quoting chazzle
closing for 14-expecting price to come closer to 200 ema 15m before it goes back up
I did close my trades a 1.5839 and 1.5835 as that level seem to be respected once again.
  • #257,883
  • Oct 1, 2010 8:53am Oct 1, 2010 8:53am
Quoting zoom
thank you, master!
SL 58029 ... wrong writting


Your stops are right, not sure about the direction of your scalp though, but that is a seperate story.
  • #257,884
  • Oct 1, 2010 8:54am Oct 1, 2010 8:54am
Quoting chazzle
No,I'm not contesting that-I think he made a typo and put 15839,I was trying to guess what number he actually meant by putting 15809
mess up with 4 and 5 decimals 5803 and 58029 .... and it looks a combination appear
... feel better day by day.
  • #257,885
  • Oct 1, 2010 8:56am Oct 1, 2010 8:56am
in again long from 15810
  • #257,886
  • Oct 1, 2010 8:57am Oct 1, 2010 8:57am
Quoting cloggie
We are still within the same levels I posted this morning, 5808 and 5838, both of which are key here for a further move. 5838 leads the way to 5868, however it has been protected for 3 hours and I am not going to anticipate that one. The more likely scenario to play out here is 5808 going for 5777 and the DP, I will trade them when they come along.
Hi Cloggs, im trying to learn your style ...did you go short just now at 5808 then or is there a confirmation you need? I noticed it went below 5808 3 times on the m1 chart.
  • #257,887
  • Oct 1, 2010 8:59am Oct 1, 2010 8:59am
Quoting huskyboy
Magix we crossed all the EMA 200 so whats now the target ?
Well, target or next period of possible resistance....

Another look at the same chart...

As price continues to move up, we would have to assume that the trend is still intact, that as long as we are above the same fast EMA that we now have a new mid support in our slow EMA...

So, looking at yesterdays line of rejection, that would be our next area of major resistance, and past that is the top of the same channel identifier, too high up to show.

Again, if we keep above fast EMA, we continue our long trend, if we fall below fast EMA, we wait to see if slow EMA will hold. Once price closes above out fast, we continue to look for the same skyward trend.

Keeping with the trend is inevitably the safest way to trade, but if we lose support on from the fast EMA, sell targets are the slow EMA and the bottom of the chart. Always watching if we are above or below that little red line and assuming that the overall trend will carry.

I take triggers off the 1m and 5m charts, and watch all time frames. Using the larger time frame indicator, if we see an up hour, I look for triggers to topside, if we see a down hour, I will watch for the next triggers to downside, keeping both support and resistance from the longer time frames in mind. All the same as posted at my thread, just a much simpler less colorful way of looking at the same thing.

Hope this helps husk...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #257,888
  • Oct 1, 2010 8:59am Oct 1, 2010 8:59am
Quoting PipChick
Hi Cloggs, im trying to learn your style ...did you go short just now at 5808 then or is there a confirmation you need? I noticed it went below 5808 3 times on the m1 chart.

Not yet, I am still playing the scalps of the 5838 rejections as I have been for the last few hours, however I am not taking a long from here at this time, that's for sure, need a bit more to short this to the DP.

ISM coming up, that will drive the equities with the resultant move in dollar.
  • #257,889
  • Oct 1, 2010 9:01am Oct 1, 2010 9:01am
I believe CABLE must the support on1.57003 before going bullish for Monday nextweek.
Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
  • #257,890
  • Oct 1, 2010 9:01am Oct 1, 2010 9:01am
Quoting cloggie
Not yet, I am still playing the scalps of the 5838 rejections as I have been for the last few hours, however I am not taking a long from here at this time, that's for sure, need a bit more to short this to the DP.

ISM coming up, that will drive the equities with the resultant move in dollar.
ok ty
  • #257,891
  • Oct 1, 2010 9:02am Oct 1, 2010 9:02am
Quoting PipChick
ok ty

Time to sell this one, 5808 gone is a big one
  • #257,892
  • Oct 1, 2010 9:03am Oct 1, 2010 9:03am
Quoting cloggie
Time to sell this one, 5808 gone is a big one
Does that mean you are short now? Just watching the charts as you trade so I can figure it out..lol
Also, if you dont mind, what would your sl be?
  • #257,893
  • Oct 1, 2010 9:04am Oct 1, 2010 9:04am
Quoting chazzle
in again long from 15810
had a 2nd position lined up@15790-might not hit so taking 15795 instead
  • #257,894
  • Oct 1, 2010 9:04am Oct 1, 2010 9:04am
sl hit

...next setup..
... feel better day by day.
  • #257,895
  • Oct 1, 2010 9:06am Oct 1, 2010 9:06am
Quoting zoom
sl hit

...next setup..
and now the b*tch is turning ....
... feel better day by day.
  • #257,896
  • Oct 1, 2010 9:09am Oct 1, 2010 9:09am
Quoting PipChick
Does that mean you are short now?

Yes I am.
  • #257,897
  • Oct 1, 2010 9:10am Oct 1, 2010 9:10am
Quoting chazzle
had a 2nd position lined up@15790-might not hit so taking 15795 instead
closing both for 31 and 7 - my broker screwed up - one of my open positions was invisible for a couple of minutes-****holes.

See you later everyone,good weekend
  • #257,898
  • Oct 1, 2010 9:10am Oct 1, 2010 9:10am
Quoting cloggie
Yes I am.
OK TY Your trading style is very interesting
  • #257,899
  • Oct 1, 2010 9:11am Oct 1, 2010 9:11am
Quoting PipChick
OK TY Your trading style is very interesting

There is little reasoning to the market today though, lots of CB intervention and option barrier protection going on.

The equities holding on support is not helping this one.
  • #257,900
  • Oct 1, 2010 9:13am Oct 1, 2010 9:13am
Quoting cloggie
There is little reasoning to the market today though, lots of CB intervention and option barrier protection going on.

The equities holding on support is not helping this one.

Fibre breaking the high, am out.
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