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Cable Update (GBPUSD)

  • #257,901
  • Oct 1, 2010 9:14am Oct 1, 2010 9:14am
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.
I think is because of ISM Manufacturing PMI having bad number than the previous one. But top still holding. EU is making new high. Caution with sl
  • #257,902
  • Oct 1, 2010 9:16am Oct 1, 2010 9:16am
Quoting PipChick
OK TY Your trading style is very interesting
My Stop 1.5765 5 pips under 1sr support. If you draw a fibonacci from 1.5922 to 1.5290 you'll see that thje cable just did a retracement in his 50 of fibo and return bullish. Wating cable in 1.6250. 1 day chart. if is 4 hour chart 1.5922 to 1.5670
  • #257,903
  • Oct 1, 2010 9:16am Oct 1, 2010 9:16am
hi bro magix,

now i have to

u got clean chart right now...

time to


rgds,iqyu

Quoting Magix
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...
not euphoria follower
  • #257,904
  • Oct 1, 2010 9:18am Oct 1, 2010 9:18am
The market relapsed from 1.5924 (Thursday's high), the heightened volatility is indicative of an inpending sustained reversal. I have sold rallies at 1.5830 in anticaption of a bearish extension through 1.5642 (September 24 low) below which will accelerate further down. Above 1.5924, however, will defer.
Our beliefs are based on logic and the pursuit of clearity.
  • #257,905
  • Oct 1, 2010 9:18am Oct 1, 2010 9:18am
Quoting cloggie
Fibre breaking the high, am out.
I was trying to figure out if I was missing something when you shorted because I was seeing longs with the bullish HD formed at the 50% and the inverse HS that developed over the last few hours. I could understand chazzles long tho. But yes, the mkt is a little weird today. I trade very little on fridays anyways for this reason. Sometimes I dont even bother trading at all on fridays.
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  • #257,906
  • Oct 1, 2010 9:21am Oct 1, 2010 9:21am
Quoting PipChick
I was trying to figure out if I was missing something when you shorted because I was seeing longs with the bullish HD formed at the 50% and the inverse HS that developed over the last few hours. I could understand chazzles long tho. But yes, the mkt is a little weird today. I trade very little on fridays anyways for this reason. Sometimes I dont even bother trading at all on fridays.
no way I was shorting this one with price above 200ema 15m
  • #257,907
  • Oct 1, 2010 9:23am Oct 1, 2010 9:23am
Quoting chazzle
no way I was shorting this one with price above 200ema 15m

That is a useless statement, so you are saying you didn't buy all morning because the 15 was below the 200 and you shorted all of it being 200 pips in the hole now.
  • #257,908
  • Oct 1, 2010 9:26am Oct 1, 2010 9:26am
Quoting cloggie
That is a useless statement, so you are saying you didn't buy all morning because the 15 was below the 200.
no,just this particular trade,Cloggie-it wasn't the London Open 10 minutes ago was it?
  • #257,909
  • Oct 1, 2010 9:27am Oct 1, 2010 9:27am
I'm out guy's for the week-end
happy hunting pips!

also a nice week-end!

see you monday LO.

bye
... feel better day by day.
  • #257,910
  • Oct 1, 2010 9:27am Oct 1, 2010 9:27am
Quoting chazzle
no,just this particular trade,Cloggie-it wasn't the London Open 10 minutes ago was it?

Then don't go making blanket silly statements that have zero meaning. You have spend the whole day ridiculing everybody here with meaningless and irrelevant dribble.

You yourself stated that you will not go short because price is above the 200 EMA, so therefore you would not go long this morning when price was below the 200 EMA, If that is not the case that makes your last statement just blatantly ignorant, unnecessary and ridiculous.

So you are either antagonistic or just full of sh!t.
  • #257,911
  • Oct 1, 2010 9:29am Oct 1, 2010 9:29am
Quoting chazzle
no way I was shorting this one with price above 200ema 15m
.
  • #257,912
  • Oct 1, 2010 9:29am Oct 1, 2010 9:29am
Quoting zoom
I'm out guy's for the week-end
happy hunting pips!

also a nice week-end!

see you monday LO.

bye
Have a nice weekend
  • #257,913
  • Oct 1, 2010 9:30am Oct 1, 2010 9:30am
Quoting cloggie
Then don't go making blanket silly statements that have zero meaning. You have spend the whole day ridiculing everybody here with meaningless and irrelevant dribble.

You yourself stated that you will not go short because price is above the 200 EMA, so therefore you would not go long this morning when price was below the 200 EMA, If that is not the case that makes your last statement just blatantly ignorant, unnecessary and ridiculous.

So you are either antagonistic or just full of sh!t.
I dont think price has been under the 200 ema for the last 6 hrs has it?
  • #257,914
  • Oct 1, 2010 9:31am Oct 1, 2010 9:31am
Quoting PipChick
I dont think price has been under the 200 ema for the last 6 hrs has it?

It hasn't and we have moved 70 pips down making his silly statement absolutely irrelevant.
  • #257,915
  • Oct 1, 2010 9:32am Oct 1, 2010 9:32am
Quoting cloggie
Then don't go making blanket silly statements that have zero meaning. You have spend the whole day ridiculing everybody here with meaningless and irrelevant dribble.

You yourself stated that you will not go short because price is above the 200 EMA, so therefor you would not go long this morning when price was below the 200 EMA, If that is not the case that makes your last statement just blatantly ignorant, unnecessary and ridiculous.
I haven't ridiculed anyone thanks very much-I made some calls and they came out good-I made a couple of mistakes,but came out on top.I have not ridiculed one single effing person.I made a statement about having wider stops because cable moves a lot
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  • #257,916
  • Oct 1, 2010 9:32am Oct 1, 2010 9:32am
So I was right that we remain bullish and the trend really wasn't broken at all yesterday despite so many traders here hoping on the bear bandwagon. I see it happen so frequently (people switching bullish to bearish in one day or vice versa) that you'd think it would become boring. But I'm always amazed how people's convictions can be so easily changed with one day's worth of price action. When will people learn that trends are not made or broken in one day (well... very rarely).

I think we'll pop up to the high 1.58s and consolidate there... maybe drop down a bit until we build enough steam to bust through the 1.5900 zone for good. I expect it to play out much like price action did when we were toying with 1.5700. So... I'll also expect a lot of people starting to talk bearish when we're hanging out up there, wicks going above 1.59 only to get rejected and the bearish bandwagoners yelling "the sky is falling". That's when I'll definitely know we're about to break higher and I'll start buying more.

Best of luck to everyone and have a good weekend.
check out my blog: forexmademillionaire dot com
  • #257,917
  • Oct 1, 2010 9:34am Oct 1, 2010 9:34am
Quoting cloggie
It hasn't and we have moved 70 pips down making his silly statement absolutely irrelevant.
I dont mean to step on any toes here but cloggs, you need to get a grip. Its not necessary to rip people up who participate on an open forum the way you do. Sorry if I insult you, not intended for that purpose.From what I have seen of chazzle so far, he seems to be an ok guy.
  • #257,918
  • Oct 1, 2010 9:34am Oct 1, 2010 9:34am


Quoting Geppy
So I was right that we remain bullish and the trend really wasn't broken at all yesterday despite so many traders here hoping on the bear bandwagon....
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not euphoria follower
  • #257,919
  • Oct 1, 2010 9:36am Oct 1, 2010 9:36am
Quoting nAVIN2007
the first 3 candles of the bit i highlighted..have the same same lows but the 3rd candles has a higher close (j16 material) hence the name TBLHC

u mean the circled ?


..
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  • #257,920
  • Oct 1, 2010 9:36am Oct 1, 2010 9:36am
Quoting cloggie
So you are either antagonistic or just full of sh!t.
The only person I seemed to have antagonised is you Cloggie,but I don't know how or why-I had a trade plan from last night that didnt go right I didnt think we would have a retrace that would break 71%,but it did so I got out.It was totally different to the plan I have had for short term trades in the last few hours
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