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Cable Update (GBPUSD)

  • #264,121
  • Nov 11, 2010 7:57am Nov 11, 2010 7:57am
Quoting chazzle
1)3)40 points away...if range bound,then closer to the top of it now and a good reason to short
Hum... I see what you mean if we measure the risk in terms of pips/capital it is safer to go short.

But if the trend I identified is correct, meaning its up, the odds that our stop is hit is bigger although we risk less capital.

Of course, if the trend I identified is wrong everything I said doesn't hold. Guess we need to go above 1.6160 first and 1.6175 after to confirm the trend is resuming.

PS: I'm guessing there are by now tons of SL orders above 1.6175 and below 1.6100 which can be interesting to play the breakout.
  • #264,122
  • Nov 11, 2010 7:59am Nov 11, 2010 7:59am
Quoting pawpaw1000




US and CANADA are closed so I don't see us breaking too many levels down
I thought i was the only one !! (maybe it was because i posted it in the cable thread)
  • #264,123
  • Nov 11, 2010 8:00am Nov 11, 2010 8:00am
Quoting pawpaw1000




US and CANADA are closed so I don't see us breaking too many levels down
a break above 3718 would see me more comfortable
  • #264,124
  • Nov 11, 2010 8:02am Nov 11, 2010 8:02am
Quoting Dayboy001
I thought i was the only one !! (maybe it was because i posted it in the cable thread)
I find better Fibre info in this thread than in the Fibre thread... It's really chaos over there! talking about the weather and lotsa other shite!

but hey, let them have their fun... I see this as a double bottom and we could be going back up to 1.3800 in the low volume of US session seeing as I don't think there would be enough Volume to break the barriers lower?
@pawpaw1000 on Twitter
  • #264,125
  • Nov 11, 2010 8:03am Nov 11, 2010 8:03am
Quoting Dayboy001
a break above 3718 would see me more comfortable
It'll go, don't worry... when I get 20 pips, I'm moving my s/l to BE...
@pawpaw1000 on Twitter
  • #264,126
  • Nov 11, 2010 8:03am Nov 11, 2010 8:03am
Quoting pawpaw1000
I find better Fibre info in this thread than in the Fibre thread... It's really chaos over there! talking about the weather and lotsa other shite!

but hey, let them have their fun... I see this as a double bottom and we could be going back up to 1.3800 in the low volume of US session seeing as I don't think there would be enough Volume to break the barriers lower?
Elevator going up on both me thinks !!
  • #264,127
  • Nov 11, 2010 8:07am Nov 11, 2010 8:07am
Quoting Dayboy001
Elevator going up on both me thinks !!
M30 gave me a bullish engulfing but I saw trouble for the bears on m15 when the wicks at the bottom started getting long. Then waited to see what happens at 3700 and jumped in

PS I got 3730 as being crucial!
@pawpaw1000 on Twitter
  • #264,128
  • Nov 11, 2010 8:13am Nov 11, 2010 8:13am
Quoting pawpaw1000
M30 gave me a bullish engulfing but I saw trouble for the bears on m15 when the wicks at the bottom started getting long. Then waited to see what happens at 3700 and jumped in

PS I got 3730 as being crucial!
I have it as a level on my screen but price seems to be passing through and taking no notice of it.

I have 3742 to overcome after 3717
  • #264,129
  • Nov 11, 2010 8:13am Nov 11, 2010 8:13am
Quoting Mr.Elliott
i'm shorting [email protected]
will close short position if M15 candle close above 1.6150 before my SL(1.6180)..... suddenly everthing look bullish to me...
  • #264,130
  • Nov 11, 2010 8:18am Nov 11, 2010 8:18am
Quoting Mr.Elliott
will close short position if M15 candle close above 1.6150 before my SL(1.6180)..... suddenly everthing look bullish to me...
I already have a 15M close above 1.6150

not sure this is over yet but my fingers are crossed for NORTH !! both cable and fibre !!
  • #264,131
  • Nov 11, 2010 8:18am Nov 11, 2010 8:18am
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  • #264,132
  • Nov 11, 2010 8:20am Nov 11, 2010 8:20am
Quoting Dayboy001
I have it as a level on my screen but price seems to be passing through and taking no notice of it.

I have 3742 to overcome after 3717
Moved s/l to 3680 (-20)... looking good so far! sorry to all, know this is Cable thread but the fibre thread is kind stuffed!
@pawpaw1000 on Twitter
  • #264,133
  • Nov 11, 2010 8:21am Nov 11, 2010 8:21am
Quoting Dayboy001
I already have a 15M close above 1.6150

not sure this is over yet but my fingers are crossed for NORTH !! both cable and fibre !!
i meant the new one another 10more minutes...the previous candle [email protected] but not the clean type....will wait for another one...
  • #264,134
  • Nov 11, 2010 8:24am Nov 11, 2010 8:24am
Quoting Mr.Elliott
i meant the new one another 10more minutes...the previous candle [email protected] but not the clean type....will wait for another one...
just wating for gold to break 1411 if you ask me, then we'll be on our way
  • #264,135
  • Nov 11, 2010 8:30am Nov 11, 2010 8:30am
Quoting Mr.Elliott
i meant the new one another 10more minutes...the previous candle [email protected] but not the clean type....will wait for another one...
Looks like the bears are defending well !! going to be just over or just under what are you going to do?

Are you holding ?
  • #264,136
  • Nov 11, 2010 8:30am Nov 11, 2010 8:30am
its 50/50 short long, but i think a break to the upside from here is harder then an break to the downside. we will see.
  • #264,137
  • Nov 11, 2010 8:34am Nov 11, 2010 8:34am
Quoting Dayboy001
Looks like the bears are defending well !! going to be just over or just under what are you going to do?

Are you holding ?
still on the short....no long yet for me....the price look flirting with the weekly....but still above the daily....still on the previous trading plan...
  • #264,138
  • Nov 11, 2010 8:35am Nov 11, 2010 8:35am
Bearish Channel still intact
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  • #264,139
  • Nov 11, 2010 8:39am Nov 11, 2010 8:39am
Quoting Dayboy001
just wating for gold to break 1411 if you ask me, then we'll be on our way
i dont know your trading plan, but a R:R 3:1 20 pips SL and 60 pips TP (.6160) at such strong resistance dont look bad to me

but stick with you plan as long as you are successful!
  • #264,140
  • Nov 11, 2010 8:39am Nov 11, 2010 8:39am
Quoting chazzle
Bearish Channel still intact
Ya it is, at the moment things are looking bullish for the dollar on many levels. I would like to see this pair at yesterdays low again, before we break trough the bearish channel.
I am short. Main TP: 1.6015

If gold breaks down below 1.4000 again, it is likely to be the trigger, and move this pair down again. Next 1h close will tell alot.
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