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Cable Update (GBPUSD)

  • #258,161
  • Oct 4, 2010 2:47am Oct 4, 2010 2:47am
Quoting Capn79
Wormboy,

You entered Long at the LO and your stop is at 5660 on Cable?? Did I read that right? Holy Schnikey's! What are you seeing there bro?
I see on a 1.5668 strong support level. To be safe from fake break outs it is wise to place stop loss 6-10 pips below that level. IMHO.
  • #258,162
  • Edited 3:01am Oct 4, 2010 2:51am | Edited 3:01am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Good day everyone

Gone long at 15753 - 2 position
15755 - 1 position

will add one more if it goes to 15720

Reason : Bullish gartley and 200ema of H1
Good luck
  • #258,163
  • Oct 4, 2010 2:53am Oct 4, 2010 2:53am
Thank You
  • #258,164
  • Oct 4, 2010 2:54am Oct 4, 2010 2:54am
Quoting Dayboy001
Back in:

Long @ 1.5773
SL @ 1.5735
TP @ 1.5830
same trade here good luck to both of us

Ub
  • #258,165
  • Oct 4, 2010 2:58am Oct 4, 2010 2:58am
Quoting wormboy
hi capn

yup you read that right
The 660 stop was placed below previous week's low test which happens to be below the current weekly S1.

That makes sense now... We've been bouncing within this assymetrical triangle... Waiting on the break out- presumably to the upside, to get in.

Your stop is way below the weekly s1... but If I remember right, you trade longer than what most intraday traders target.
What we obtain too cheap, we esteem too lightly.
  • #258,166
  • Oct 4, 2010 3:00am Oct 4, 2010 3:00am
Quoting lake
the pound is crashing, timber, lol,
how you like em apples? vile isn't it ?
Thank You
  • #258,167
  • Oct 4, 2010 3:07am Oct 4, 2010 3:07am
Quoting wormboy
how you like em apples? vile isn't it ?
What we obtain too cheap, we esteem too lightly.
  • #258,168
  • Oct 4, 2010 3:13am Oct 4, 2010 3:13am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day everyone

Gone long at 15753 - 2 position
15755 - 1 position

will add one more if it goes to 15720

Reason : Bullish gartley and 200ema of H1
Good luck
Good day everyone..

possible sterling index
Attached Image (click to enlarge)
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  • #258,169
  • Oct 4, 2010 3:15am Oct 4, 2010 3:15am
added long @ 1.5796
pending buy limit @ 1.5774 & 1.5765

SL follow wormboy @ 1.5660
  • #258,170
  • Oct 4, 2010 3:16am Oct 4, 2010 3:16am
Quoting Capn79
That makes sense now... We've been bouncing within this assymetrical triangle... Waiting on the break out- presumably to the upside, to get in.

Your stop is way below the weekly s1... but If I remember right, you trade longer than what most intraday traders target.
yup, it depends really. I do not stick to just one type of trading. I do i/d scalps as well as positioning. It all depends on the setups available & the situation. This week for example I have opted to position myself for a few reasons, one is this is the nfp week. Price movement usually are erratic coming up to the day so I'd prefer to steer clear of trading the ltf to avoid getting whipsawed. The other being the W1 on cable.
It clearly shows the bullflag is now in play and that price is approaching the inv H&S neckline & given how cable's been trending up, I'm leaning towards the neckline going & cable heading higher. So I just pick my entry & let it work.
Let's see how it goes.
Attached Image (click to enlarge)
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Thank You
  • #258,171
  • Oct 4, 2010 3:23am Oct 4, 2010 3:23am
G/M

Cable continued the pullback off Friday's 5872 Hi landing at the top of a previouis 1hr swing hi zone confluence with 61.8% of the 5668 - Friday Hi 5872 Hi move...where fresh demand came in resulting in a 1hr pinbar...rise up finding supply 5800/05. Price @ 50% of it's 20day average atm,

G/L

http://www.easy-upload.net/fichiers/z.2010104102244.gif
ex member
  • #258,172
  • Oct 4, 2010 3:38am Oct 4, 2010 3:38am
Quoting wormboy
yup, it depends really. I do not stick to just one type of trading. I do i/d scalps as well as positioning. It all depends on the setups available & the situation. This week for example I have opted to position myself for a few reasons, one is this is the nfp week. Price movement usually are erratic coming up to the day so I'd prefer to steer clear of trading the ltf to avoid getting whipsawed. The other being the W1 on cable.
It clearly shows the bullflag is now in play and that price is approaching the inv H&S neckline & given how cable's been...
NFP is erratic... thanks for the reminder!

Well, If my account was larger... as in - Wormboy Levels- I'd probably put a few extra contracts on your trade. I should be to that level by next week.

Thanks for posting your chart. Much appreciated!
What we obtain too cheap, we esteem too lightly.
  • #258,173
  • Oct 4, 2010 3:39am Oct 4, 2010 3:39am
Positive / better than expected PMI data for GBP.
Today's zone = Tomorrow's opportunity!
  • #258,174
  • Oct 4, 2010 3:42am Oct 4, 2010 3:42am
Talk about UK could lose it`s AAA creditrating.
Any thoughts on that?
  • #258,175
  • Oct 4, 2010 3:56am Oct 4, 2010 3:56am
Attached Image
not euphoria follower
  • #258,176
  • Oct 4, 2010 3:58am Oct 4, 2010 3:58am
Hi everybody

I am Flo7 kind of newbies - being following this great thread on and off for few months now...anyway I have a question...it seems a lot of you are going long - I have looked at bull and bear power on H4 and the bear are much stronger - is this not relevant as the trend should be going?

Thanks!

Flo
  • #258,177
  • Oct 4, 2010 3:59am Oct 4, 2010 3:59am
Morning all,

now standing aside and waiting to 4H candle close...
currently cable touch exact 61,8 of up move, but fibre goes down, and because of possitive expectation of NFP at friday, I think cable can go down to retest 5550 area... but now waiting to close 4h candle... If closes above 5810 going long, but for me looks like bearish week just started....
Attached Image (click to enlarge)
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  • #258,178
  • Oct 4, 2010 4:05am Oct 4, 2010 4:05am
I dont know ... just count it then

just ignore me ... easy right ?


i dont care what u say hahahahahahaahhahaha





Quoting Capn79
How many times are you going to post the same effing picture??... In fact, do you have amnesia, or do you think posting retarded pics on this forum will somehow legitimize your existence??

This isn't 'Arts and Crafts' time... go post your crap somewhere else, you're wasting everyone's time!
not euphoria follower
  • #258,179
  • Oct 4, 2010 4:16am Oct 4, 2010 4:16am
You got it. Welcome to iggy then.

Masterforex shortened my fuse last week with a constant barrage of useless pictures.

Quoting iqyu5an
I dont know ... just count it then

just ignore me ... easy right ?


i dont care what u say hahahahahahaahhahaha

  • #258,180
  • Oct 4, 2010 4:19am Oct 4, 2010 4:19am
Quoting dag777
Moning all,

until last weeks low holds, i also still favour buying on dips,
If dp and wp gives way i may join the long side.
Do i have correct data, dp and wp very close at 1.5803 and 1.5802?
Can someone confirm or correct me?

Wish everybody a good start into new week,
happy pippin
Morning Dag, Azim. How are you guys doing? I have only been trading EU this morning, has been a bit easier to judge than GU. For GU, price has been pulled backwards and forwards around DPP/WPP. Last 3 hourly closes below although the long bullish pin shows there are still plenty of buyers around. I am going to play the safe side and wait for a close above DPP before entering long (possibly on a test of either WPP or DPP after close above).
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