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Cable Update (GBPUSD)

  • #265,501
  • Nov 29, 2010 11:22pm Nov 29, 2010 11:22pm
Quoting fuse
I'm seeing 1.5522 as offering some support based on April swing high. Also 15m chart looks like a couple of good looking bullish candles.

I'm currently long from 1.5539 SL 1.5519

See attached Daily chart
Having an appreciation of the fact that you see support that goes back to April...wouldn't it be best to see if the new weekly low is at least challenged during London before making a decision to go long?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,502
  • Nov 29, 2010 11:29pm Nov 29, 2010 11:29pm
Quoting Magix
Having an appreciation of the fact that you see support that goes back to April...wouldn't it be best to see if the new weekly low is at least challenged during London before making a decision to go long?

Yes your probably right, however I trade on what I see and if the candles say go long then I go long. I trade with a tight stop loss and try to get to break even as soon as possible.
  • #265,503
  • Nov 29, 2010 11:34pm Nov 29, 2010 11:34pm
Quoting fuse
Yes your probably right, however I trade on what I see and if the candles say go long then I go long. I trade with a tight stop loss and try to get to break even as soon as possible.
Aight mango...

Don't lemme get in yer way.

Keep on keeping on!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,504
  • Nov 29, 2010 11:37pm Nov 29, 2010 11:37pm
Oh...and FWIW...

50EMA 5m chart on deck...

Be a good time to chance a short if your not in one already.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,505
  • Nov 29, 2010 11:38pm Nov 29, 2010 11:38pm
Quoting Magix
Oh...and FWIW...

50EMA 5m chart on deck...

Be a good time to chance a short if your not in one already.
As of right now the longer term support is holding, but I do suspect and bet my 2 shorts on it that it will break.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 26 KB
  • #265,506
  • Nov 29, 2010 11:49pm Nov 29, 2010 11:49pm
If price can break 1.5575 then I will hold onto my long, if not I'll take what I can get.
  • #265,507
  • Nov 29, 2010 11:54pm Nov 29, 2010 11:54pm
price is in obvious downtrend. No longs in play. Price can get to 5300
  • #265,508
  • Nov 29, 2010 11:54pm Nov 29, 2010 11:54pm
Quoting Ctic
As of right now the longer term support is holding, but I do suspect and bet my 2 shorts on it that it will break.
Only holding a couple shorties from the denial at the 5m 200 just below daily roll here Ctic...

Thinking that we see a little squeeze lower...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,509
  • Nov 29, 2010 11:59pm Nov 29, 2010 11:59pm
Quoting Magix
Only holding a couple shorties from the denial at the 5m 200 just below daily roll here Ctic...

Thinking that we see a little squeeze lower...

I am just monitoring my 2 from 5975 and 5775, so I have a bit of a cushion. But if it breaks this support I will pick up a third trade.
  • #265,510
  • Nov 30, 2010 12:08am Nov 30, 2010 12:08am
Agreeing with the short prognosis. Am in at 5545. Cant see much of a floor below us assuming we clear yesterdays and todays low, and were close to monthly t1 @ 1.5495 just below S1 so i may TP there for today... Otherwise weve got monthly T2 and and weekly T1 very close together around 1.5400...
  • #265,511
  • Nov 30, 2010 12:53am Nov 30, 2010 12:53am
Quoting Ctic
I am just monitoring my 2 from 5975 and 5775, so I have a bit of a cushion. But if it breaks this support I will pick up a third trade.
lol, you asleep at the wheel or wht man , in just below quarterly R1 was hoping to get to L3 this week , picking up a little momentum since the quarterly open gave way ,just kinda watching this pivot area , bounce if any should argue with the quarterly open but chart isint really showing much exzuberance to the upside atm lol ,hope all has been well with you
Attached Image (click to enlarge)
Click to Enlarge Name: Daily chart.jpg Size: 154 KB
  • #265,512
  • Nov 30, 2010 1:24am Nov 30, 2010 1:24am
Quoting digger1
lol, you asleep at the wheel or wht man , in just below quarterly R1 was hoping to get to L3 this week , picking up a little momentum since the quarterly open gave way ,just kinda watching this pivot area , bounce if any should argue with the quarterly open but chart isint really showing much exzuberance to the upside atm lol ,hope all has been well with you Attachment
Nice artwork of a chart, will it make you more money while you're dead or alive?
  • #265,513
  • Nov 30, 2010 1:33am Nov 30, 2010 1:33am
Quoting digger1
lol, you asleep at the wheel or wht man , in just below quarterly R1 was hoping to get to L3 this week , picking up a little momentum since the quarterly open gave way ,just kinda watching this pivot area , bounce if any should argue with the quarterly open but chart isint really showing much exzuberance to the upside atm lol ,hope all has been well with you Attachment
Hey Digger,

Long time no chat. Things are going well.. Happy Holidays to you. Yeah I see the downward movement. Have 2 shorts in atm and looking to add a third. I am thinking we may see 5400 before week end, but like you said could bounce up to quarter open and break downwards from there. Hope all is well with you.
  • #265,514
  • Nov 30, 2010 1:34am Nov 30, 2010 1:34am
Quoting nahman
Nice artwork of a chart, will it make you more money while you're dead or alive?
What kind of a question is that?

Moron....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,515
  • Nov 30, 2010 1:38am Nov 30, 2010 1:38am
He meant to ask if his system is working.
  • #265,516
  • Nov 30, 2010 1:40am Nov 30, 2010 1:40am
Quoting bonus76
He meant to ask if his system is working.
Kinda sounds like he is just talking out of his ass to me...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,517
  • Nov 30, 2010 1:49am Nov 30, 2010 1:49am
At least he gives prior warning...lol
Attached Image
  • #265,518
  • Nov 30, 2010 1:51am Nov 30, 2010 1:51am
Quoting chazzle
At least he gives prior warning...lol
2 perfect examples as to how to wear out your welcome real fast in this here thread....

1. Advertise you're an idiot.
2. Live up to your moniker.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,519
  • Nov 30, 2010 1:59am Nov 30, 2010 1:59am
ok ok I can take a hint...
  • #265,520
  • Nov 30, 2010 2:06am Nov 30, 2010 2:06am
Quoting Magix
What kind of a question is that?

Moron....
You don't get the joke, artists tend to have more expensive artworks when they die And I thought your Brilliant colourful squiggles and lines is reminiscent of Jackson Pollock's "Blue Poles".
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