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Cable Update (GBPUSD)

  • #259,121
  • Oct 6, 2010 1:05pm Oct 6, 2010 1:05pm
Quoting Geppy
It's quiet because there is very little going on with Cable... tonight should cure that with the MPC statement.
should go up hey buddy..the rate is tomorrow not today thou
  • #259,122
  • Oct 6, 2010 1:07pm Oct 6, 2010 1:07pm
With EJ finally coming into daily 200EMA, I think this be the point to shift the strength from EUR back to GBP...at least for a little while.

Not counting on a mass exodus, but a nice retrace is imminent.

Holding Shorts on EJ/EU from yesterday...

1.3842
114.93

Adding seconds on EJ here, 115.58.

Let your back bone SLIDE!

IF the EURO retrace comes to fruition, hard to say what it will do for the GBP pairs, a decline, but not as sharp, or a continuation in the positive momo?

I have taken short on dragon @ the 5m 200, 131.90, for a few sheckles as of current, but will wait and see how much steam this billy goat got!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,123
  • Oct 6, 2010 1:09pm Oct 6, 2010 1:09pm
Quoting nAVIN2007
should go up hey buddy..the rate is tomorrow not today thou
Happens at 4am here so I consider that "night"... meh.
check out my blog: forexmademillionaire dot com
  • #259,124
  • Oct 6, 2010 1:18pm Oct 6, 2010 1:18pm
I C g/u close on daily @ 1.5906
Could b wrong but this what i watching on daily.
GL All
  • #259,125
  • Oct 6, 2010 2:10pm Oct 6, 2010 2:10pm
Not on point for cable but relating USD pair....

Slipping under the belt line, I am taking trigger on the second set o shorts for my EUR/USD trades.

2x 1.3932.


A quickie for starters, will take some profit and let the rest ride pending chart.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,126
  • Oct 6, 2010 2:34pm Oct 6, 2010 2:34pm
Quoting Magix
Not on point for cable but relating USD pair....

Slipping under the belt line, I am taking trigger on the second set o shorts for my EUR/USD trades.

2x 1.3932.


A quickie for starters, will take some profit and let the rest ride pending chart.
What do you mean by belt line?
Today's zone = Tomorrow's opportunity!
  • #259,127
  • Oct 6, 2010 2:47pm Oct 6, 2010 2:47pm
Quoting pres78
What do you mean by belt line?
Looking at relative time frames here...

I see things in shorter time frames and base it on longer term charts.

2 charts attached. The Hourly, which is currently not the supporting chart shows the buy cycles of Fibre as it moves straight up the pipe.

Bottom chart shows the supporting chart which as of current is the 30m. Each bounce off the 200EMA - Yellow line.

The change in colors with a few other oscillators that I use, and with a multiple pair analysis tells me that EUR is at the point of WAY overbought.

So, Watching the EJ chart coming into its daily topper, watching as EU loses its hulls support on a short scale and looking for the imminent retrace on EUR as it relates to EG, tells me that this is a good place to have:

1. A nice little scalp for a few sheckles
2. A nice entry for a longer term swing
3. A bad place to look for longs on the chart

Ergo...

I go short.

Compare the charts previously posted on EJ, and EU for the idea of the belt line. Magenta in color, or a bit of a feminine pink/purple line. As price slips below, and as all ducks line up, I look for my shorts on supporting charts.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,128
  • Oct 6, 2010 2:51pm Oct 6, 2010 2:51pm
Quoting Gleneagles
+108
I am curious ... why do you call them dustbin trades?

Good job whatever you call it though
  • #259,129
  • Oct 6, 2010 2:51pm Oct 6, 2010 2:51pm
The idea along the same lines on the M5 for my dragon shorts as previously mentioned. Red on the day, supporting chart M5. Price touch and deny at this line, enter short for immediate trend and cycle play.

Yellow line and circle, 200EMA
Aqua to Magenta, Hulls MA, TCCI indicator on short term.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,130
  • Oct 6, 2010 3:54pm Oct 6, 2010 3:54pm
Quoting Magix
The idea along the same lines on the M5 for my dragon shorts as previously mentioned. Red on the day, supporting chart M5. Price touch and deny at this line, enter short for immediate trend and cycle play.

Yellow line and circle, 200EMA
Aqua to Magenta, Hulls MA, TCCI indicator on short term.
How successful is your scalping on dragon? Always thought it must be exciting but never had the balls to actually try it
@pawpaw1000 on Twitter
  • #259,131
  • Oct 6, 2010 3:55pm Oct 6, 2010 3:55pm
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Red
  • #259,132
  • Oct 6, 2010 4:18pm Oct 6, 2010 4:18pm
Quoting pawpaw1000
How successful is your scalping on dragon? Always thought it must be exciting but never had the balls to actually try it
I am currently fixed spread on dragon for the diff of 7. When I take a trade on dragon, I am 100% sure of my trades. Don't mean I prosper 100% of the times, just means that I really sharpen my charts to take a trade on this one.

Reality setting in...

How many people will wait in front of their trade stations for hours in order to take a bad trade?

I am already here, so when I see opportunity, I take it.

Cable is the most predictable pair. Whilst I see and wait on my entries, what really is it to find the same on others? Samsies.

In a lot of cases, my trades are based not only on S/R of a single pair, but much to the same of others. I will hammer 4 of the same trades, long or short depending on cycles, knowing that one of these is going to move faster and better then the other. I have taken a lot of scratch to small loss trades based on the same ideas, but have more than made up on the others.

Open a demo account, gain a sense of the pair, and whatever you do, do not try and ride the dragon as you would trade cable, it's just not that easy.

Good luck brother, I have been posting a multi pair analysis, hope it offers a little aspect for ya to trade off of.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,133
  • Oct 6, 2010 5:02pm Oct 6, 2010 5:02pm
Quoting Magix
Looking at relative time frames here...

I see things in shorter time frames and base it on longer term charts.

2 charts attached. The Hourly, which is currently not the supporting chart shows the buy cycles of Fibre as it moves straight up the pipe.

Bottom chart shows the supporting chart which as of current is the 30m. Each bounce off the 200EMA - Yellow line.

The change in colors with a few other oscillators that I use, and with a multiple pair analysis tells me that EUR is at the point of WAY overbought.

So, Watching the EJ chart coming...
Thanks for the response.
Today's zone = Tomorrow's opportunity!
  • #259,134
  • Oct 6, 2010 5:21pm Oct 6, 2010 5:21pm
Quoting pres78
Thanks for the response.
FWIW...

I would certainly not appreciate if you or any others took the same trades based on mine, the point is to offer another perspective on the markets.

Thanks for the question, often times others won't be so bold as to ask.

Cheers.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #259,135
  • Oct 6, 2010 5:32pm Oct 6, 2010 5:32pm
Quoting Magix
FWIW...

I would certainly not appreciate if you or any others took the same trades based on mine, the point is to offer another perspective on the markets.

Thanks for the question, often times others won't be so bold as to ask.

Cheers.

That's what I use these forums for... to learn some things, see what others are thinking etc... I only take trades based on my own analysis and systems.

Thanks again...
Today's zone = Tomorrow's opportunity!
  • #259,136
  • Oct 6, 2010 5:40pm Oct 6, 2010 5:40pm
Quoting pres78
That's what I use these forums for... to learn some things, see what others are thinking etc... I only take trades based on my own analysis and systems.

Thanks again...

That's why we're all here
  • #259,137
  • Oct 6, 2010 5:55pm Oct 6, 2010 5:55pm
Quoting chazzle
closed both for 26 total

Now short average price 15888....do not think we will break the day high,despite bullish PA last couple of hours...started to see some weakness about a week ago with the large down move.Support of 15870 broken today (Thanks Wormboy for pointing out break of bearish pennant-I still need to practice spotting patterns like this and Gartley patterns)...reckon we could see low 15800's before NFP...Good luck All
closing 3 positions...43 , 30 , 5 ...average of 26
  • #259,138
  • Oct 6, 2010 6:38pm Oct 6, 2010 6:38pm
Quoting wormboy
well, I did mention earlier 888 had to hold in order for cable to climb higher i/d.
That didn't happen, so I decided to clear first, too much money on the table to give back
I'll buy again at a cheaper price when the opportunity arises. Right now it's all sell for me. Good luck!
end of the day 888 had proved to be a solid resistance as it closed for the second day on the dot with yesterday closing indecisive. Looks like it could possibly be a bearish day today & will likely retest the W1 pvp once again.
Rates today, good luck.
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Thank You
  • #259,139
  • Oct 6, 2010 7:00pm Oct 6, 2010 7:00pm
Quoting wormboy
end of the day 888 had proved to be a solid resistance as it closed for the second day on the dot with yesterday closing indecisive. Looks like it could possibly be a bearish day today & will likely retest the W1 pvp once again.
Rates today, good luck.
so that 911... now became a tough resistance... just booked another 50 pips from yesterday late call

Quoting primzvicious
siipp brother

gw temenin nge sell lagi di 911 angka yang tadi
Verily, in every difficulties there is relief
  • #259,140
  • Oct 6, 2010 7:12pm Oct 6, 2010 7:12pm
I tell you what, If the USD is able to just get one drop of strength, this pair will come crashing down faster than Obama can print money.
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