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Cable Update (GBPUSD)

  • #258,301
  • Oct 4, 2010 4:24pm Oct 4, 2010 4:24pm
Does anyone get the feeling that Helicopter Ben is going to talk up the economy getting stronger and that he will only use QE if needed as a last resort?

GS was the one saying QE is coming in NOV not the FED. Why would Ben change his tune this speech?

Just thinking out loud...
  • #258,302
  • Oct 4, 2010 4:36pm Oct 4, 2010 4:36pm
Does the circled PA count as a possible bull flag on the 1hr?

Quick move up and then small contained moves down?
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  • #258,303
  • Oct 4, 2010 4:51pm Oct 4, 2010 4:51pm
Quoting pres78
Does the circled PA count as a possible bull flag on the 1hr?

Quick move up and then small contained moves down?
If you look on m15 at last Friday's move up you will see a bull flag there, and on last Thursday's move down, you will see two decent bear flags, because these chart patterns actually played out and therefore validated the pattern.

So, is what you have pointed out a bull flag? Maybe to some people... yes, to others... no.. If more people think yes, there is a higher probability that it will play out and the pattern will complete.

If you are unsure, it probably isn't one and therefore in this case... it probably isn't one. That does not mean that price won't go up!
  • #258,304
  • Oct 4, 2010 5:02pm Oct 4, 2010 5:02pm
Quoting pres78
Does the circled PA count as a possible bull flag on the 1hr?

Quick move up and then small contained moves down?
Would just seem to me to be a wedge inside of the bullish channel...

Where we go from here???

Good question, right now, not a lot worth the grabs IMO...
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  • #258,305
  • Oct 4, 2010 5:13pm Oct 4, 2010 5:13pm
Quoting Magix
Would just seem to me to be a wedge inside of the bullish channel...

Where we go from here???

Good question, right now, not a lot worth the grabs IMO...
Another line and you've got a diamond... a girl's best friend

How are you buddy? Knowing you, you got some nice pips out of cable today and if not cable, you were probably chasing the dragon... LOL!

I stayed well away from his sheeet PA and got myself a nice short on fibre at 1.3801. Call it picking tops... I saw it as a novice gap up into some serious double weekly supply levels. Already cashed in a 1/3 so the remaining 2/3 are free trades. If it goes up... oh well. If it goes down... ching ching!

You take it easy now and keep up your great work!
  • #258,306
  • Oct 4, 2010 5:18pm Oct 4, 2010 5:18pm
Quoting bbakker
Another line and you've got a diamond... a girl's best friend

How are you buddy? Knowing you, you got some nice pips out of cable today and if not cable, you were probably chasing the dragon... LOL!

I stayed well away from his sheeet PA and got myself a nice short on fibre at 1.3801. Call it picking tops... I saw it as a novice gap up into some serious double weekly supply levels. Already cashed in a 1/3 so the remaining 2/3 are free trades. If it goes up... oh well. If it goes down... ching ching!

You take it easy now and keep up your...
Ripped a few sheckles on the decline and made a few on the rise. Sat out most of NY and just checking to see where we at in the day.

Yeah, possible diamond formation, but still the same deal, if we go down, sell, if we go up...buy....

Shorting the eff outa Euro pairs right now. They haven't seen their 200ema on the hourly in a long time, got a few bucks made on these bastages and going to see if they got the juice to keep on moving down.

EUR in the EG pair seems to be toppy as a kite, playing the shorts on the EUR pairs as it makes the most sense, and watching as cable and dragon consolidate in this area.

Meh....all in the name of fun n money.



While the temps lull in the GBP...been working my way through Murray Math and Ichimoku charting...some neat stuff in there.
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  • #258,307
  • Oct 4, 2010 5:28pm Oct 4, 2010 5:28pm
Did someone say Diamond pattern?
Quoting Leche Mocha
I see a possible diamond pattern forming on 4H but I don't see a double top.

You have to zoom into the last 35 candles to see it.
  • #258,308
  • Oct 4, 2010 5:33pm Oct 4, 2010 5:33pm
Quoting Magix
Ripped a few sheckles on the decline and made a few on the rise....
I like the Murry Math but haven't done anything on Itchy yet. Always learning... is good!
  • #258,309
  • Oct 4, 2010 5:45pm Oct 4, 2010 5:45pm
Quoting bbakker
I like the Murry Math but haven't done anything on Itchy yet. Always learning... is good!
Application of the Ichi isn't much different from my use of the 200EMA and the faster sets...Watching it on the shorter time frames again, gives you an understanding of how it can work on the whole. Playing with that one I have caught a couple nice rides just going off a blind trigger, but in the whippy times, it like anything else is best left to the longer TFs....

Murry Math Lines are available through the Dolly indicator I have been playing around with, interesting to see their accuracy when applied to the days as well.

I like to see what makes the most amount of sense and well, really, what will provide the best paycheck.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #258,310
  • Edited 6:36pm Oct 4, 2010 6:33pm | Edited 6:36pm
going long here 15815-almost half of the 4h candles closed or opened within 10 pips of this level since 24sep midday...just looking for some kind of bounce

well maybe 10-15 or so
  • #258,311
  • Oct 4, 2010 6:52pm Oct 4, 2010 6:52pm
Quoting chazzle
going long here 15815-almost half of the 4h candles closed or opened within 10 pips of this level since 24sep midday...just looking for some kind of bounce

well maybe 10-15 or so
taken myself out for 5 loss...maybe moments early for a nice scalp
  • #258,312
  • Oct 4, 2010 6:57pm Oct 4, 2010 6:57pm
Quoting chazzle
taken myself out for 5 loss...maybe moments early for a nice scalp
A moment and quite possibly the wrong direction for a scalp my friend.
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  • #258,313
  • Oct 4, 2010 7:02pm Oct 4, 2010 7:02pm
Attached Image (click to enlarge)
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Red
  • #258,314
  • Oct 4, 2010 7:10pm Oct 4, 2010 7:10pm
good one
  • #258,315
  • Oct 4, 2010 7:11pm Oct 4, 2010 7:11pm
Hello guys,

I'm new in posting here but I've been following the thread. I'm long on the gbp/usd now as of 1.5813. I'm trading on the 30m chart. Price was rejected at the 200 day moving avg.

I'm also using an imacd indicator looks like a powertrade is setting up there to go long.
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  • #258,316
  • Oct 4, 2010 7:22pm Oct 4, 2010 7:22pm
Quoting Magix
A moment and quite possibly the wrong direction for a scalp my friend.
yes,does maybe look easier to have gone short.could have got 15 in both directions
  • #258,317
  • Oct 4, 2010 7:25pm Oct 4, 2010 7:25pm
Quoting chazzle
yes,does maybe look easier to have gone short.could have got 15 in both directions
Have a looksie at the USDJPY chart...USD currently got the juice...if yer longing for a long, be looking for the JPY pairs..they been moving up a touch and the USD strength has stiffled the upside for cable and fibre.

Not saying we won't make a trip back to daily open, but easy to lose fingers catching falling knives.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #258,318
  • Oct 4, 2010 7:28pm Oct 4, 2010 7:28pm
Quoting Magix
Have a looksie at the USDJPY chart...USD currently got the juice...
Cheers for that-I see what you mean
  • #258,319
  • Oct 4, 2010 7:31pm Oct 4, 2010 7:31pm
set a pending long@8350,thanks Magix
  • #258,320
  • Oct 4, 2010 7:34pm Oct 4, 2010 7:34pm
Quoting chazzle
set a pending long@8350,thanks Magix
IF dragon holds above 131.92, and if the LTL isn't busted on cable...longs still in effect, but if yer just looking at grabbing a few sheckles in the mix, might wanna play direction.

GBP got the juice, USD currently got the juice...

Bester trades @ current longs on dragon, shorts on fibre, current short cycle.

Watch for support and hammer these m'er f'ers!

DP on Cable, 1.5814..

Muwahahahahahahahaha
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