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Cable Update (GBPUSD)

  • #264,961
  • Nov 23, 2010 3:51am Nov 23, 2010 3:51am
+5 to +10 pip (+) scalpers paradise in this 5min chop...latest below.

5min prints that LL below it's last L, and immediately prints a pinbar and bullish hammer at that LL.

G/L
Attached Image (click to enlarge)
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ex member
  • #264,962
  • Nov 23, 2010 3:52am Nov 23, 2010 3:52am
anyone heard any news about these two punching on?

hopefully they can get it together quickly...
  • #264,963
  • Nov 23, 2010 3:52am Nov 23, 2010 3:52am
Quoting nAVIN2007
hi tom..

the green line is acting as strong resistance..for long to be good..id say that area needs to break and hold as support..i sill fancy short and dailly weekly look set to give a bearish month

hi folks

Hi mate, hope u r well, G/L with the shorts and thanx for the heads up as always.
ex member
  • #264,964
  • Nov 23, 2010 3:53am Nov 23, 2010 3:53am
Quoting nAVIN2007
azim ..yur here..i thought yur azz was on holiday
hey nav

i leave for bangkok in a couple of weeks time. Figured might as well make some in the mean time before the liquidity dries up
How you been bro
Thank You
  • #264,965
  • Nov 23, 2010 3:54am Nov 23, 2010 3:54am
Quoting Cobby
anyone heard any news about these two punching on?

hopefully they can get it together quickly...
that happened a few hours ago mate
Thank You
  • #264,966
  • Nov 23, 2010 3:54am Nov 23, 2010 3:54am
Quoting bbmac
+5 to +10 pip (+) scalpers paradise in this 5min chop...latest below.

5min prints that LL below it's last L, and immediately prints a pinbar and bullish hammer at that LL.

G/L
was a great setup
  • #264,967
  • Nov 23, 2010 3:59am Nov 23, 2010 3:59am
Quoting wormboy
hey nav

i leave for bangkok in a couple of weeks time. Figured might as well make some in the mean time before the liquidity dries up
How you been bro
Quoting bbmac
Hi mate, hope u r well, G/L with the shorts and thanx for the heads up as always.

im ok guys..pain has gone and im moving but still have some swelling..so long as pain aint there im good..
btw great observations on the trendline makes u wonder really if trading is actually staged with precision..it really was text book stuff

got a 50 pip channel..area between to green lines..may prove very profitable..1.59 heavilly protected..if that breaks..we gonna have a lot of selling today
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  • #264,968
  • Nov 23, 2010 4:05am Nov 23, 2010 4:05am
I'm not convinced that the steepest unbreeched daily trend line or daily ascending bottom channel line has been breeched to the downside as some are suggesting, I have them drawn on the screenshot below...arguably this mornings lo was a bounce from the bottom channel.

A convincing downside breech of it/them ie a daily candle close below them might expose the potential support factors below though ?

G/L

http://www.easy-upload.net/fichiers/z.2010112311427.jpg
ex member
  • #264,969
  • Nov 23, 2010 4:13am Nov 23, 2010 4:13am
this t/line seems to be getting some attention

Attached Image
  • #264,970
  • Nov 23, 2010 4:13am Nov 23, 2010 4:13am
Quoting bbmac
I'm not convinced that the steepest unbreeched daily trend line or daily ascending bottom channel line has been breeched to the downside as some are suggesting, I have them drawn on the screenshot below...arguably this mornings lo was a bounce from the bottom channel.

A convincing downside breech of it/them ie a daily candle close below them might expose the potential support factors below though ?

G/L

http://www.easy-upload.net/fichiers/z.2010112311427.jpg...

yeah i saw that as well..my reasong for short for me is weekly is bearish and i feel monthly most likely going to close below open price..cause dailly was in line with weekly i took the trade as movement was likely

entered light as there wasnt enough confluence to back the trade completely..

price is in a wedge on weekly..trendline at 1.63 held
bearish diverence on dailly and bearish candle on dailly and weekly..
and that friggin weekly channel break and test are my reasoning for short as appossed to long

bearish monthly is what im looking for to give me good chance of below 1.57
  • #264,971
  • Nov 23, 2010 4:19am Nov 23, 2010 4:19am
That's me for the day, final look at current 4hr near-term screenshot.

G/L

http://www.easy-upload.net/fichiers/...1123111924.gif
ex member
  • #264,972
  • Nov 23, 2010 4:44am Nov 23, 2010 4:44am
Attached Image (click to enlarge)
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  • #264,973
  • Nov 23, 2010 5:02am Nov 23, 2010 5:02am
Quoting redsword11
Attachment

long @ 1.59303
  • #264,974
  • Nov 23, 2010 5:11am Nov 23, 2010 5:11am
Quoting redsword11
long @ 1.59303
Long..Buy or sell sir ?
  • #264,975
  • Edited 5:18am Nov 23, 2010 5:13am | Edited 5:18am
Good day to you,

Price is battling to break down to 4hr support. I have reversed my position and entered long @ 1.5932 and 1.5927

Price should now tumble...

Regards
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  • #264,976
  • Nov 23, 2010 5:23am Nov 23, 2010 5:23am
hi people.. any price action gurus out there with more experience than i?.. are all these wicks on the south side on the 30 min telling a story?

long ?

gl naboo
Attached Image
  • #264,977
  • Nov 23, 2010 5:39am Nov 23, 2010 5:39am
Quoting naboo
hi people.. any price action gurus out there with more experience than i?.. are all these wicks on the south side on the 30 min telling a story?

long ?

gl naboo
Good day to you,

It tells us that the market is waiting for a trigger excuse in the form of release data or market comment. It tells us that positions have been taken over the last few hours - either selling into strength or buying into weakness. The volume guys will probably know which is which...


Regards
  • #264,978
  • Nov 23, 2010 5:46am Nov 23, 2010 5:46am
Quoting TauTrader
Good day to you,

It tells us that the market is waiting for a trigger excuse in the form of release data or market comment. It tells us that positions have been taken over the last few hours - either selling into strength or buying into weakness. The volume guys will probably know which is which...


Regards

hey TT.. hmm.. thanks for the insight.. my personal take for what it's worth is that the direction across the TF board seems a mixed bag at the mo to me, but that 30 min is showing major rejection @ 15900 - 1593X - 8 out of the last 10 candles... is that profit taking or pure rejection?

i'm thinking north..so south it is then lol ;-)

regards

p.s on the note of volume..ive been researching into using volume on mt4 but there seems to be differing opinions across the interweb as to how effective volume indis are considering there is no "geographical" market as such for spot fx...and futures are the only real way to phathom fx volume correctly. anyone know the truth behind this and the best route to have volume reflected on me mt4 screen correctly?

cheers..
  • #264,979
  • Nov 23, 2010 6:03am Nov 23, 2010 6:03am
Quoting naboo
hey TT.. hmm.. thanks for the insight.. my personal take for what it's worth is that the direction across the TF board seems a mixed bag at the mo to me, but that 30 min is showing major rejection @ 15900 - 1593X - 8 out of the last 10 candles... is that profit taking or pure rejection?

i'm thinking north..so south it is then lol ;-)

regards
Good day to you,

Now why do you have to ask all these difficult questions? I have bullsh*tted my way through almost 2000 posts, and now you want to expose my lack of trading skills? What's up with that!

Because this market is so liquid, I do not see profit taking being such an extended process. I will rule that out. You will see a lot more volatile movement if that is the case.

It does seem that the levels you mentioned are defended well at this point - but - erosion is a natural phenomenon. Walls break....things collapse...

The safest will be to take the opposite of my calls - you will have a strong account in no time.

Regards
  • #264,980
  • Nov 23, 2010 6:13am Nov 23, 2010 6:13am
Quoting naboo
hey TT.. hmm.. thanks for the insight.. my personal take for what it's worth is that the direction across the TF board seems a mixed bag at the mo to me, but that 30 min is showing major rejection @ 15900 - 1593X - 8 out of the last 10 candles... is that profit taking or pure rejection?

i'm thinking north..so south it is then lol ;-)

regards

p.s on the note of volume..ive been researching into using volume on mt4 but there seems to be differing opinions across the interweb as to how effective volume indis are considering there is no "geographical"...
Good day to you,

Go visit Malcolmb regarding volume - http://www.forexfactory.com/showthread.php?t=241760

Then make your deduction

Regards
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