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Cable Update (GBPUSD)

  • #261,841
  • Oct 26, 2010 4:24am Oct 26, 2010 4:24am
Quoting MisterTrader
CHANC. OSBORNE: Steady UK recovery is underway, growth figures should underpin confidence.

I bet this number is made up for political reasons How to explain the forecast to be missed by double the standard deviation of 33 macro economists ?
  • #261,842
  • Oct 26, 2010 4:25am Oct 26, 2010 4:25am
Sorry bro.. just asking a little bit .

u're looking for 10-20 pips only ... but let 70 pip loss ?

can u explain...?

rgds,iqyu

Quoting chazzle
out of my short for -70 ... no big drama,just half of profit from last 24hrs
not euphoria follower
  • #261,843
  • Oct 26, 2010 4:32am Oct 26, 2010 4:32am
670 pips and counting....
  • #261,844
  • Oct 26, 2010 4:32am Oct 26, 2010 4:32am
Quoting grashid
http://www.youtube.com/watch?v=I-W5ND6wj_A

wish all the best for those short on EU n Long on GU atm...let us sing together
nice call as always master G
Verily, in every difficulties there is relief
  • #261,845
  • Oct 26, 2010 4:33am Oct 26, 2010 4:33am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting pips stunner
A Sweeeeeeeeeeet Entry.




GET RICH QUICK OR DONATE TO BROKERS.
you listen to too much birdman
  • #261,846
  • Oct 26, 2010 4:33am Oct 26, 2010 4:33am
Quoting Ifty
Not shorting until the Stochastics start to turn down or until the RSI is overbought. The 61.8% sits at 1.5930 so will also keep an eye on that level.

Attachment
We all have different entry criteria.

Mine were -

1. Fast arrival into supply zone
2. Beyond the bollinger bands on both h1 and h4
3. 50% fib from lo/hi (1.5649 -1.6105)
4. CCI overbought on h4 (nearly reaching 300) and h1 (nearly reaching 400)
5. Weakness in S&P and other equity markets = dollar strength (short-term)
6. Previous daily high and we had a nice drop from here before

Finally keep in mind that BoE are still threatening QE2 and King stating that Basel is not good enough for UK banks. Fundamental reasoning, but I don't pay too much attention to news apart from the bigger picture.

Wish you success with your trading!

EDIT: 30 pips and counting
1st Target: 1.5805
2nd Target: 1.5675
3rd Target: 1.0000 I use a trailing stop for my last target!
  • #261,847
  • Oct 26, 2010 4:34am Oct 26, 2010 4:34am
Quoting iqyu5an
Sorry bro.. just asking a little bit .

u're looking for 10-20 pips only ... but let 70 pip loss ?

can u explain...?

rgds,iqyu
yes iqy...I usually take several entries in my positions and string together several 20s 30s 40s....trading this way but occasionally take a hit that is bigger than an average win,looks bad on first glance,but adds up

p.s. started to go long on fibs
  • #261,848
  • Oct 26, 2010 4:37am Oct 26, 2010 4:37am
Quoting bbakker
We all have different entry criteria.

Mine were -

1. Fast arrival into supply zone
2. Beyond the bollinger bands on both h1 and h4
3. 50% fib from lo/hi (1.5649 -1.6105)
4. CCI overbought on h4 (nearly reaching 300) and h1 (nearly reaching 400)
5. Weakness in S&P and other equity markets = dollar strength (short-term)
6. Previous daily high and we had a nice drop from here before

Finally keep in mind that BoE are still threatening QE2 and King stating that Basel is not good enough for UK banks. Fundamental reasoning, but I don't pay too much...
Yes very true bro. I am going to wait for the 4H to be overbought myself just to be more sure of the direction. When the daily & 4H are bullish, I only go long and vice versa. Wishing you success also.
You've got to be IN IT to WIN IT!
  • #261,849
  • Oct 26, 2010 4:39am Oct 26, 2010 4:39am
1min led the way, in that potential resistance zone...a regular bearish divergence based set-up, and as you inferred earklier other t/f's were looking very overbought, 5min in particular supported the 1min entry. Price also being deviated from it's 20 day average pip range was anotrher factor (currently @ 107%) also it was a classic sell the 1st Hi @ potential resistance after data release, such can be followed up with buy the 1st pullback on such a reaction...will see what develops.

Just flat again now.

G/L

http://www.easy-upload.net/fichiers/...1026113724.gif

Quoting bbakker
We all have different entry criteria.

Mine were -

1. Fast arrival into supply zone
2. Beyond the bollinger bands on both h1 and h4
3. 50% fib from lo/hi (1.5649 -1.6105)
4. CCI overbought on h4 (nearly reaching 300) and h1 (nearly reaching 400)
5. Weakness in S&P and other equity markets = dollar strength (short-term)
6. Previous daily high and we had a nice drop from here before

Finally keep in mind that BoE are still threatening QE2 and King stating that Basel is not good enough for UK banks. Fundamental reasoning, but I don't pay too much...
ex member
  • #261,850
  • Oct 26, 2010 4:42am Oct 26, 2010 4:42am
Quoting Ifty
Yes very true bro. I am going to wait for the 4H to be overbought myself just to be more sure of the direction. When the daily & 4H are bullish, I only go long and vice versa. Wishing you success also.
I prefer the extremes... call it picking tops and bottoms, but it does give me the best Risk to Reward ratio. Have a great day trading people and see you all soon!
  • #261,851
  • Oct 26, 2010 4:42am Oct 26, 2010 4:42am
Current near-term 1hr screenshot in respect of potential supp/res/rbs factors..not shown are the Daily R3 5887 and Weekly R1 5904 area

G/L

http://www.easy-upload.net/fichiers/...1026114048.gif
ex member
  • #261,852
  • Oct 26, 2010 4:43am Oct 26, 2010 4:43am
Quoting jaboo
you listen to too much birdman
From Abraham Maslow's hierarchy of needs self fulfilment is top. i'm waiting to play "I made it" Kevin Rudolf feat. Birdman, Jay Sean and Lil Wayne non Stop.
I'm heading to the top of that chart now.. Wish u the best in your trades.
  • #261,853
  • Oct 26, 2010 4:49am Oct 26, 2010 4:49am
Quoting bbmac
1min led the way, in that potential resistance zone...a regular bearish divergence based set-up, and as you inferred earklier other t/f's were looking very overbought, 5min in particular supported the 1min entry. Price also being deviated from it's 20 day average pip range was anotrher factor (currently @ 107%) also it was a classic sell the 1st Hi @ potential resistance after data release, such can be followed up with buy the 1st pullback on such a reaction...will see what develops.

Just flat again now.

G/L

http://www.easy-upload.net/fichiers/...1026113724.gif...


m15 also show bearish divergence on CCI... maybe a bit after the fact, but still bearish divergence as you indicated on even the lower tfs.

Attached Image (click to enlarge)
Click to Enlarge Name: 101026_gu_m15.PNG Size: 37 KB
  • #261,854
  • Oct 26, 2010 4:51am Oct 26, 2010 4:51am
here is my view... with or without retrace to 5795., shes going to 5963
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 19 KB
Verily, in every difficulties there is relief
  • #261,855
  • Oct 26, 2010 4:54am Oct 26, 2010 4:54am
Quoting primzvicious
here is my view... with or without retrace to 5795., shes going to 5963
Well, S&P has closed the weekend gap, so now a rally in this market should see GBP gain... Let's see what happens!
  • #261,856
  • Oct 26, 2010 5:00am Oct 26, 2010 5:00am
Quoting bbakker
Well, S&P has closed the weekend gap, so now a rally in this market should see GBP gain... Let's see what happens!
very true... if 795 broke i will join you ASAP ... else i will stay with my bullish view

edit : 765
Verily, in every difficulties there is relief
  • #261,857
  • Oct 26, 2010 5:02am Oct 26, 2010 5:02am
Quoting bbakker
Well, S&P has closed the weekend gap, so now a rally in this market should see GBP gain... Let's see what happens!
Saying that... S&P did create a shooting star yesterday and 1200 is a big fat round number that will take some doing to get through. Also the markets have extended their rally since mid Summer with no noticeable pullbacks, so I think we are in for one soon. Both GU and EU are in consolidation mode again, but I am trying to keep as objective as possible.

Wish you success with your trading.... over and out!
  • #261,858
  • Oct 26, 2010 5:07am Oct 26, 2010 5:07am
Quoting bbakker
We all have different entry criteria.

Mine were -

1. Fast arrival into supply zone
2. Beyond the bollinger bands on both h1 and h4
3. 50% fib from lo/hi (1.5649 -1.6105)
4. CCI overbought on h4 (nearly reaching 300) and h1 (nearly reaching 400)
5. Weakness in S&P and other equity markets = dollar strength (short-term)
6. Previous daily high and we had a nice drop from here before

Finally keep in mind that BoE are still threatening QE2 and King stating that Basel is not good enough for UK banks. Fundamental reasoning, but I don't...
CLAP CLAP
This is een zeer leuk systeem Bakker.
Mine compimenten.
Zeer goed gedaan zoon van Piet Hein uit holland
  • #261,859
  • Oct 26, 2010 5:09am Oct 26, 2010 5:09am
4hr candle just closed on screenshot below...intraday remains bullish sentiment....A break of 5877 last near-term 1hr/4hr swing hi probably opens up the similar swing to 5942?

The current near-term screenshot of 4hr is below in respect of potential supp/res/sbr/rbs factors on that t/f

Finishing here for day.

G/L

http://www.easy-upload.net/fichiers/z.2010102612835.gif
ex member
  • #261,860
  • Oct 26, 2010 5:10am Oct 26, 2010 5:10am
Well that's me finished in record time today got my target for the day. Switched off the platform and am going to spend some quality time with the grandkids..................

Hopefully you will all reach your targets and get many green pips too

Buzzzzzzz for now.......Bee back on the flip side
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