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Cable Update (GBPUSD)

  • #262,021
  • Oct 27, 2010 4:54am Oct 27, 2010 4:54am
The triangles highlight very clear supply patterns into yesterdays close and during the earlier market hours today.

The fact that we are back into these levels should give bears some pause I think. Looks like a good old fashioned short squeeze is under way.

Wonder who is on the other end of that gray triangle?

(excuse the screenshot capturing my mp3 player in action!)
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  • #262,022
  • Oct 27, 2010 4:56am Oct 27, 2010 4:56am
It seems that both EU and GU are following ES and ES is trying to close the gap at 1184.8 (Price at close of gap on my chart) so we could still see some more upside this morning on both pairs. Keep an eye on ES.

I did take my GU short, but this one will be a quickie... lol

Moved my SL to BE already!
  • #262,023
  • Oct 27, 2010 4:57am Oct 27, 2010 4:57am
Quoting NoahEffect
The triangles highlight very clear supply patterns into yesterdays close and during the earlier market hours today.

The fact that we are back into these levels should give bears some pause I think. Looks like a good old fashioned short squeeze is under way.

Wonder who is on the other end of that gray triangle?

(excuse the screenshot capturing my mp3 player in action!)
NIN... you're excused
  • #262,024
  • Oct 27, 2010 5:04am Oct 27, 2010 5:04am
Well, Buzzzz me sideways............

That's my daily target reached in less than 5 hours trading''''''''''''''''''' well I must say I'm impressed.

Hopefully those who trade here with R$E$A$L M$O$N$E$Y, will also reach their daily targets soooooooooon. Those who are on DUMMMMMMMY accounts' good luck also, as we all know you have to start somewhere.

I'm out of here till tomorrow, so no more buzzzing herel.
  • #262,025
  • Oct 27, 2010 5:07am Oct 27, 2010 5:07am
Quoting AdrianHNV
Well, Buzzzz me sideways............

That's my daily target reached in less than 5 hours trading''''''''''''''''''' well I must say I'm impressed.

Hopefully those who trade here with R$E$A$L M$O$N$E$Y, will also reach their daily targets soooooooooon. Those who are on DUMMMMMMMY accounts' good luck also, as we all know you have to start somewhere.

I'm out of here till tomorrow, so no more buzzzing herel.
  • #262,026
  • Oct 27, 2010 5:12am Oct 27, 2010 5:12am
My price target for today is 1.5730 based on Digger's cam lines. Let's see what happens!

Good luck everyone and I wish you success with your trading!
  • #262,027
  • Oct 27, 2010 5:51am Oct 27, 2010 5:51am
Quoting NoahEffect
Looks like a good old fashioned short squeeze is under way.
Well they certainly squeezed the hell out of me...been on the wrong side all morning,till now that is
  • #262,028
  • Oct 27, 2010 6:22am Oct 27, 2010 6:22am
like to see them break this 1.58300
  • #262,029
  • Oct 27, 2010 6:55am Oct 27, 2010 6:55am
Quoting chazzle
Well they certainly squeezed the hell out of me...been on the wrong side all morning,till now that is
My view at this point is that 1.5880 is still the resistance which needs breaking for the bulls to start a stampede. New York closing tonight below 1.5775 opens the door for a large downside move (based on possible equity market correlation and USD strength?). The price levels are determines as 50% of the last two major intraday swings and rounded to a nice clean number. Intraday price action is ambiguous but possibly bullish after the GDP data last night.

Just had a lovely homecooked dinner, walked to the shop to get some Belgian waffles to have with frozen berries and maple syrup. Logging off now. Certainly has been interesting and informing speaking with you all today.

Won't be able to post this much everyday, but look forward to sharing my thoughts at least once around the London Open time.
  • #262,030
  • Oct 27, 2010 7:02am Oct 27, 2010 7:02am
Quoting NoahEffect
... Just had a lovely homecooked dinner, walked to the shop to get some Belgian waffles to have with frozen berries and maple syrup. ...
  • #262,031
  • Oct 27, 2010 7:33am Oct 27, 2010 7:33am
Good day to you all,

Sideways channel - AGAIN...

No longer term longs to be engaged in before 1.5876. ( 50% line of the months range) No longer term shorts to be engaged in before 1.5771 (Monday's high). Between these numbers price could be traded either way.

Caution though - should 1.5876 serve as support, look out for 1.5894 as part of a slightly wider sideway channel and be wary of 1.5920 ( September high).

To the downside, should 1.5771 hold as resistance, be careful of 1.5720/1.5715 area (confluence of the Monday close and the Monthly opening price)

All the best

Regards
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  • #262,032
  • Oct 27, 2010 7:56am Oct 27, 2010 7:56am
5800 area to watch out for... longs might load let see
  • #262,033
  • Edited 9:59am Oct 27, 2010 8:14am | Edited 9:59am
waited for cross, break and retest, one trade complete.

2nd on the roll, lets see.

Warren
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I need to finish something i started
  • #262,034
  • Oct 27, 2010 8:30am Oct 27, 2010 8:30am
Quoting bigwal
waited for cross, break and retest, one trade complete.

2nd on the roll, lets see.

Warren
Was chatting to Magix about this method...were you also?Interesting to see how it pans out for you ...good first trade...could have done with a bit of that myself this morn!
  • #262,035
  • Oct 27, 2010 8:40am Oct 27, 2010 8:40am
Chazzle,

Sailed close to my stop on that little up move on this 2nd trade.

Magix has been going on about this for quite sometime. Im really in test mode.

I will look at any fine tuning i need to do.

The first one was very good, is not such a clean break........ but then again i maybe doing it wrong.

Thats why i put up the chart, see if he has any input on it.

Warren
I need to finish something i started
  • #262,036
  • Oct 27, 2010 8:41am Oct 27, 2010 8:41am
Quoting chazzle
Was chatting to Magix about this method...were you also?Interesting to see how it pans out for you ...good first trade...could have done with a bit of that myself this morn!
You've probably seen it already, but Magix posted this morning on 20/200 MA crosses on the M1 chart. Fits in nicely with your 10/20 pip targets...
  • #262,037
  • Oct 27, 2010 8:57am Oct 27, 2010 8:57am
Quoting AdrianHNV
Well, Buzzzz me sideways............

That's my daily target reached in less than 5 hours trading''''''''''''''''''' well I must say I'm impressed.

Hopefully those who trade here with R$E$A$L M$O$N$E$Y, will also reach their daily targets soooooooooon. Those who are on DUMMMMMMMY accounts' good luck also, as we all know you have to start somewhere.

I'm out of here till tomorrow, so no more buzzzing herel.
So what your trying to tell everyone is you have made no money today on your demo account and someones got to deliver them news papers??? bye

Stocky
  • #262,038
  • Oct 27, 2010 9:09am Oct 27, 2010 9:09am
Chazzle, im not getting a clean break, dont know weather to pull it and wait for London open tommorow.

Magix, did say London open and US open (wall street opened a hour ago)

this is messy pa at the mo, dont like it.
I need to finish something i started
  • #262,039
  • Oct 27, 2010 9:14am Oct 27, 2010 9:14am
Quoting bigwal
Chazzle, im not getting a clean break, dont know weather to pull it and wait for London open tommorow.

Magix, did say London open and US open (wall street opened a hour ago)

this is messy pa at the mo, dont like it.

The PA is distorted by the US New House sales data which came out at 3pm.
  • #262,040
  • Oct 27, 2010 9:27am Oct 27, 2010 9:27am
Delite,

I use to be more of a longer term trader, the swap to intraday i should pay more attention to news.

After my last post we had a push down so iam hanging with it and looking @ 200ema 4hr for support again if we stay below 1.5800

W
I need to finish something i started
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