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Cable Update (GBPUSD)

  • #265,461
  • Nov 29, 2010 3:10am Nov 29, 2010 3:10am
thanx fuse! price did touch close to 1.5645 and dropped to 1.5584 and now back up again... however i still expect it to drop further.. what's the lowest/highest you project for this week?
  • #265,462
  • Nov 29, 2010 3:11am Nov 29, 2010 3:11am
Quoting vosterfxandy
Are we assuming 1.556 is the bottom for this week?

personally I have no such assumption, I remain entirely open minded and will trade the edge as it presents itself...You know what assume does of course ? It makes an ass out of u and me.

G/L
ex member
  • #265,463
  • Nov 29, 2010 3:17am Nov 29, 2010 3:17am
Quoting bbmac
personally I have no such assumption, I remain entirely open minded and will trade the edge as it presents itself...You know what assume does of course ? It makes an ass out of u and me.

G/L
true man.
Enter Signature
  • #265,464
  • Nov 29, 2010 3:24am Nov 29, 2010 3:24am
Quoting darimik
bought a bunch starting from 1.5600 down.
closed half @ 5635 just at london open, in hopes to play the other side. by the time of a shower everything else had hit BE.

at the moment 5625 seems like a key level for me. might not just see anything serious just yet
  • #265,465
  • Nov 29, 2010 3:34am Nov 29, 2010 3:34am
Quoting darimik
closed half @ 5635 just at london open, in hopes to play the other side. by the time of a shower everything else had hit BE.

at the moment 5625 seems like a key level for me. might not just see anything serious just yet

Yes I agree, if price hits 1.5625 then reverses, I think we should see some good downside action.
  • #265,466
  • Nov 29, 2010 3:40am Nov 29, 2010 3:40am
I'm short...looking for an H&S to play out on M5 please hitting the neckline at least.....
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  • #265,467
  • Nov 29, 2010 3:44am Nov 29, 2010 3:44am
No dramatic knee-jerk (+) reaction to the 0930am Uk data...price remains contained by the current daily lo/trend lo 5557, and current daily hi/pullback 5646...56% only of the 20 day average pip range.

Done here for day but will hang around till 1030am local see if anything else sets-up.

Current 1hr screenshot is below.

G/L

http://www.easy-upload.net/fichiers/...1129104244.gif
ex member
  • #265,468
  • Nov 29, 2010 3:44am Nov 29, 2010 3:44am
Quoting bbmac
Hi WM, saw that.... you can see it on the daily pic below...Current daily lo was at that 38.2% of the 4342-6297 daily swing.

G/L
cheers mac
Thank You
  • #265,469
  • Nov 29, 2010 3:46am Nov 29, 2010 3:46am
Quoting darimik

at the moment 5625 seems like a key level for me. might not just see anything serious just yet
oh my. close enough
  • #265,470
  • Nov 29, 2010 3:46am Nov 29, 2010 3:46am
Quoting bbmac

Done here for day but
we're just wArming up brother
Thank You
  • #265,471
  • Nov 29, 2010 3:56am Nov 29, 2010 3:56am
Quoting teknomage
thanx fuse! price did touch close to 1.5645 and dropped to 1.5584 and now back up again... however i still expect it to drop further.. what's the lowest/highest you project for this week?
Sorry mate I can't predict the market, whenever I try I always get it wrong!! I just try to trade what I see. I set up a trade based on levels that I think might offer some support or resistance then I watch the market at that level then make a call to either enter that trade or stay on the sidelines.
  • #265,472
  • Nov 29, 2010 4:35am Nov 29, 2010 4:35am
Quoting wormboy
we're just wArming up brother
Lol, I am sure.....But thats the beauty of the lower time frame triggers, a few hours on those is like a few days on say a 1hr trigger in respect of the average number of hi-probability trading opportunities that develop.. I just look for my 'soft' daily target (+) and then finish. IMO Life is for living not for spending in front of a bank of screens for hours on end getting a head-ache - been there-done that, Lol.
---------------------------------------

I was tempted at selling that 3rd 5min LH a great 5min bearish PB trigger but potential r:r was not good with the potential minor demand zone below it...it did subsequently break below it but hey ho...

Done now, but will doubtless look in later this afternoon to update potential supp/res charts and see what pa I missed.

G/L
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ex member
  • #265,473
  • Nov 29, 2010 4:40am Nov 29, 2010 4:40am
Quoting bbmac
IMO Life is for living not for spending in front of a bank of screens for hours on end getting a head-ache - been there-done that, Lol.
I don't get headaches trading 2 and a half hour into LO, I'm still young

Glad you've made yours for the day my friend. Have a good one
Thank You
  • #265,474
  • Nov 29, 2010 4:47am Nov 29, 2010 4:47am
Quoting chazzle
I'm short...looking for an H&S to play out on M5 please hitting the neckline at least.....
done and dusted,now for a smoke and a pancake...
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  • #265,475
  • Nov 29, 2010 4:55am Nov 29, 2010 4:55am
Quoting chazzle
done and dusted,now for a smoke and a pancake...
where's mine
  • #265,476
  • Nov 29, 2010 4:59am Nov 29, 2010 4:59am
No prob, fuse. Was just curious. Am short on Cable at the moment and I'm guessing a lot of us here have taken the down side... let's see where it goes from here...
  • #265,477
  • Nov 29, 2010 5:00am Nov 29, 2010 5:00am
Quoting chazzle
done and dusted,now for a smoke and a pancake...
http://www.youtube.com/watch?v=aRtNfb6D3Mc
Nice Chaz. You've given me the confidence to get rid of all my emas except 20 and 200. It looks so much clearer.
All systems of divination, like music itself,work through patterns.
  • #265,478
  • Nov 29, 2010 5:03am Nov 29, 2010 5:03am
Quoting kaspopsicle
Nice Chaz. You've given me the confidence to get rid of all my emas except 20 and 200. It looks so much clearer.
Indeed,too much crap on the screen and you can't see the wood for the trees

I did just have the 200...but after chatting to Magix,he showed me how it was worth putting the 20 there also...
  • #265,479
  • Nov 29, 2010 5:10am Nov 29, 2010 5:10am
Quoting chazzle
Indeed,too much crap on the screen and you can't see the wood for the trees

I did just have the 200...but after chatting to Magix,he showed me how it was worth putting the 20 there also...
Works like Magix !
All systems of divination, like music itself,work through patterns.
  • #265,480
  • Nov 29, 2010 5:35am Nov 29, 2010 5:35am
Good day to you,

Hoping to see 1.5574 turn into resistance on the 1hr, as this may lead us lower to 1.5536.

1.5522 to 1.5536 could be the next bounce area to watch, should 1.5574/1.5570 go. Will clear shorts if we break back above 1.5588.

Regards
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