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Cable Update (GBPUSD)

  • #264,881
  • Nov 22, 2010 7:09pm Nov 22, 2010 7:09pm
Quoting redsword11
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might just scalp it

l am only scalping cable south on this short, but which direction is RECENT MOMENTUM ?


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  • #264,882
  • Nov 22, 2010 7:11pm Nov 22, 2010 7:11pm
Quoting redsword11
l am only scalping cable south on this short, but which direction is RECENT MOMENTUM ?


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closed most


@ BE
  • #264,883
  • Nov 22, 2010 7:15pm Nov 22, 2010 7:15pm
Oh well, got to pay sometimes, but my E-cad is more than making up for it.


Quoting Nene
.......are at 38 and 76 % off the 1 hr fib pulled.
  • #264,884
  • Nov 22, 2010 7:16pm Nov 22, 2010 7:16pm
Quoting Magix
Keep in mind we are below daily roll over, 5m 200ema and in a sell cycle. There was a low created after London Closed, I would think that we will fill back down to bottom before buying up to London Close. From there, most likely tankersville...Titanic type shit.

Just a thought, am currently short and will hold until I see a really good reason to not be.
I just bought some more on its 61.8% fib retracement.. still having your possibility in mind, I actually would love the price to come down till 1.5888 to buy more.
  • #264,885
  • Nov 22, 2010 7:19pm Nov 22, 2010 7:19pm
Quoting redsword11
l am only scalping cable south on this short, but which direction is RECENT MOMENTUM ?


Attachment
Here's how I see it...We busted through LTL and UTL seems to be holding.

Support zones on retrace through London as follows...

I don't see a free fall all the way to daily support range...but as an eventual target possibility....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,886
  • Nov 22, 2010 7:22pm Nov 22, 2010 7:22pm
Quoting z3r0
I just bought some more on its 61.8% fib retracement.. still having your possibility in mind, I actually would love the price to come down till 1.5888 to buy more.
You do realize that London has not seen the bottom of the chart right?

Why not wait to see if London wants to hold this area as support or just crush bottom....

Am guessing you are not playing full size lots, and gunna say that adding on the way down here could cost you a lot of hurt.

Falling axes n all...

Best o luck brother.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,887
  • Nov 22, 2010 7:24pm Nov 22, 2010 7:24pm
Quoting Magix
Here's how I see it...We busted through LTL and UTL seems to be holding.

Support zones on retrace through London as follows...

I don't see a free fall all the way to daily support range...but as an eventual target possibility....

yes, won't breakdown easily, so for me its intraday north and south as PA gives the entries
  • #264,888
  • Nov 22, 2010 7:38pm Nov 22, 2010 7:38pm
Quoting redsword11
yes, won't breakdown easily, so for me its intraday north and south as PA gives the entries
Is kinda touch n go, but still see a retrace to NY Lows during London session.

Dragon seems to have found support on the hourly, not taking the long here just yet, will wait for confirmation, but I don't think we losing ground on cable because of GBP weakness, but more so on USD strength....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,889
  • Nov 22, 2010 7:45pm Nov 22, 2010 7:45pm
Quoting Magix
Is kinda touch n go, but still see a retrace to NY Lows during London session.

Dragon seems to have found support on the hourly, not taking the long here just yet, will wait for confirmation, but I don't think we losing ground on cable because of GBP weakness, but more so on USD strength....

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EG might be an easier trade
  • #264,890
  • Nov 22, 2010 7:53pm Nov 22, 2010 7:53pm
Quoting redsword11
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EG might be an easier trade
Wouldn't be looking at buying this just yet if that's what your looking at.

H4 shows cradle support a little lower...

Typically I won't trade this dog, only the ez money sets...

Right now...I am not feeling the love.

Short term might be okay, but getting caught holding this pos against the current trend can be painful...gunna sit this one out.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,891
  • Nov 22, 2010 8:15pm Nov 22, 2010 8:15pm
Chanced another Short here....5m resistance.

Took a couple quickies on longs for the Euro pairs, and a couple even quickers on the shorts....not EU trades on, only cable.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,892
  • Nov 22, 2010 8:34pm Nov 22, 2010 8:34pm
Quoting Magix
Chanced another Short here....5m resistance.

Took a couple quickies on longs for the Euro pairs, and a couple even quickers on the shorts....not EU trades on, only cable.
what's your TP & SL?
  • #264,893
  • Nov 22, 2010 8:52pm Nov 22, 2010 8:52pm
Quoting z3r0
what's your TP & SL?
Eleventy billion dollars!

Muwahahahahahahaha....

Going to hold to see if we retrace the basement for London and gauge from there.

If I get a cross signal or long signal for anything longer then a 5m chart, will drop this biznatch like a hot potato.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,894
  • Nov 22, 2010 9:46pm Nov 22, 2010 9:46pm
Good day to you,

4hr chart. Daily support zone @ 1.5883 to 1.5837. I believe we are heading into this region first. Will see if we bounce from here. A break below 1.5837 may open up to target the next daily support zone @ 1.5704..

No longer term longs for me, unless we break back above 1.5986, with the first hurdle being the weekly open @ 1.5977. We remain in bearish territory until the above mentioned level goes.

Entering short @ 1.5935 SL 1.5985

Wish you all the best.

Regards
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  • #264,895
  • Nov 22, 2010 10:01pm Nov 22, 2010 10:01pm
Symmetrical Triangle on M5 to decide whether up or down...

Its almost breaking...
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  • #264,896
  • Nov 22, 2010 10:11pm Nov 22, 2010 10:11pm
some buyers down here?

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  • #264,897
  • Nov 22, 2010 10:21pm Nov 22, 2010 10:21pm
Quoting redsword11
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closed most


@ BE

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  • #264,898
  • Nov 22, 2010 10:38pm Nov 22, 2010 10:38pm
becarefull after touch 1.5870. maybe around london open. no chart, but it will make bullish divergent (maybe).
see you next time.
I will be the number one Manager.
  • #264,899
  • Nov 22, 2010 10:41pm Nov 22, 2010 10:41pm
is this where the bulls are?

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  • #264,900
  • Nov 22, 2010 10:51pm Nov 22, 2010 10:51pm
Another bull setup..
Possibility that the price is preparing to move in a bull channel

H1 Timeframe
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