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Cable Update (GBPUSD)

  • #266,121
  • Dec 9, 2010 2:42am Dec 9, 2010 2:42am
This is a short right?
Lower lows and lower highs, seems to respect the red line and the pivotzone
so if the bar closes what it looks like will be a BEOB a short purchase below the BEOB.
With a stoploss just above the pivotzone?
I know its not a A++ trade but it should be profitable?

http://imgur.com/BRRAJ.gif
  • #266,122
  • Edited 3:05am Dec 9, 2010 2:52am | Edited 3:05am
i`ve just shorted it from 1.5812 with a sl at 1.5866

edit

moved my sl to my entry point and aiming for some 100-150pips profit depending on PA.
  • #266,123
  • Dec 9, 2010 3:12am Dec 9, 2010 3:12am
G/M

This morning's current daily hi @ 5841 is slightly above yesterday's hi @ 5837 and saw another test of the 4hr/daily descending trend line with a touch too of the bottom of the previous 4hr/daily swing lo zone (previous support) where supply was encountered....Price remains inside the current 4hr ascending equidistant channel formed by the ascending trend line and it has pulled back to a Lo around the 76.4% of the last 1hr swing up 5759-5841 and Monthly pivot. Daily Pivot at or around 5769 is just below.

Current near-term 1hr screenshot below.

Uk Boe/Mpc stuff later.

G/L

http://www.easy-upload.net/fichiers/z.2010129101153.gif
ex member
  • #266,124
  • Dec 9, 2010 3:18am Dec 9, 2010 3:18am
Quoting gsantri
If you using MT4 the easy way to find DOJI is right click your chart:
Properties > Colors > Line graph. Then change it to red, or any different color than your candles.

Just small thing to share
Thankyou for your thoughts. Unfortunately i dont use MT4 but when i change over next year you'll probably get fed up with me pm ing you for technical advice lol
All systems of divination, like music itself,work through patterns.
  • #266,125
  • Dec 9, 2010 3:24am Dec 9, 2010 3:24am
Quoting fuse
Whats your target for this trade? I have a soft target of 1.5735
Hi fuse. - I might take 1/3 off the table at 15775 and stops to BE , let the rest run
  • #266,126
  • Dec 9, 2010 3:43am Dec 9, 2010 3:43am
morning people

i'm with you guys south so here's hoping.. short 15817 sl 15870 tp 15765


needs to break the DP.. fierce battle ongoing on current 30 min candle bears v bulls in action... bears taking over hopefully
  • #266,127
  • Dec 9, 2010 3:48am Dec 9, 2010 3:48am
Quoting naboo
morning people

i'm with you guys south so here's hoping.. short 15817 sl 15870 tp 15765


needs to break the DP.. fierce battle ongoing on current 30 min candle bears v bulls in action... bears taking over hopefully

Daily Pivot also 38.2% 5654-5841 is immediate downside obstacle. 1hr previous swing lo zone below that (previous support)

G/L
ex member
  • #266,128
  • Dec 9, 2010 3:51am Dec 9, 2010 3:51am
Quoting chazzle
Hi fuse. - I might take 1/3 off the table at 15775 and stops to BE , let the rest run
Job done ... Partial profit locked
  • #266,129
  • Dec 9, 2010 3:51am Dec 9, 2010 3:51am
Quoting bbmac
Daily Pivot also 38.2% 5654-5841 is immediate downside obstacle. 1hr previous swing lo zone below that (previous support)

G/L

hi bbmac.. lets hope that retracement is just a little deeper

looking at the way price was attracted to this area yesterday with that spike, DP may well be the line in the sand for today....

anyone with reliable supply and demand areas on their charts i could possibly view.. eagerly learning this..
  • #266,130
  • Dec 9, 2010 4:01am Dec 9, 2010 4:01am
The 1hr screenshot below shows the obvious near-term fractal swing hi/lo zones on this 1hr t/f and where red/blue where they co-exist as such on 4hr...also fibs and trend lines....these fractal swings represent recent imbalances of demand/supply...as to whether they are reliable or not, ...well they are just as I say they are - previous obvious near-term imbalances of demand/supply or supply/demand, that is fact....whether they will in the future offer supp/res/sbr/rbs is down to you as a trader to determine based maybe on your trading edge, and a judgemnet as to pa arriving at and when around those zones.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 19 KB
ex member
  • #266,131
  • Dec 9, 2010 4:05am Dec 9, 2010 4:05am
out @15762 +53

thanks bbmac..marvellous as ever..thankyou sir
  • #266,132
  • Dec 9, 2010 4:14am Dec 9, 2010 4:14am
whether they will in the future offer supp/res/sbr/rbs is down to you as a trader to determine based maybe on your trading edge, and a judgemnet as to pa arriving at and when around those zones.


having seen Sam Seidens webinars on Fx Street i like the idea of nailing S&D along with harmonics and Ichi.. while i have my own plan for this instrument only, in time would like to add more methods to the arsenal and maybe more majors to the protfolio..

no commission recieved for the above plug

price liking that DP area at the moment
  • #266,133
  • Dec 9, 2010 4:16am Dec 9, 2010 4:16am
Quoting kaspopsicle
Thankyou for your thoughts. Unfortunately i dont use MT4 but when i change over next year you'll probably get fed up with me pm ing you for technical advice lol
That's ok. I will be happy to help with the little I knew
  • #266,134
  • Dec 9, 2010 4:19am Dec 9, 2010 4:19am
Quoting naboo
out @15762 +53

thanks bbmac..marvellous as ever..thankyou sir
No probs.

Confluence of potential supp/res factors is important as well as the confluence of tech phenomena including Pa itself at potential support/resistance factors, to determine which is the greater probability- ie break or bounce...

The current lo is a case in point, - bullish diuvergence on 1min and 5min and a decent 1min pa trigger at the confluence of the previous 1hr swing lo with 23.6% 5483-5841, and 100sma on 4hr suggestsed at least a small pullback...which so far is what has happened...

G/L
Attached Image
ex member
  • #266,135
  • Dec 9, 2010 4:20am Dec 9, 2010 4:20am
popsi are you based in the uk?
  • #266,136
  • Dec 9, 2010 4:23am Dec 9, 2010 4:23am
5min is below...you can see the bullish divergence play supporting that on the 1min (close of 1004am 1min candle was a pinbar trigger giving 67.4ask entry.)

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 14 KB
ex member
  • #266,137
  • Dec 9, 2010 4:26am Dec 9, 2010 4:26am
Quoting bbmac
5min is below...you can see the bullish divergence play supporting that on the 1min (close of 1004am 1min candle was a pinbar trigger giving 67.4ask entry.)

G/L

you are good dude.. like a few others on here i must add.. i cant' even begin to decifer data on those timeframes any more

is that a spinning top forming on the DP on the 30 min? hmm.
  • #266,138
  • Dec 9, 2010 4:30am Dec 9, 2010 4:30am
Quoting naboo
you are good dude.. like a few others on here i must add.. i cant' even begin to decifer data on those timeframes any more

is that a spinning top forming on the DP on the 30 min? hmm.

Well it's a trading edge !! Lol

Breaking here and will be back for up to 1/2 hr around the Uk Boe/Mpc release at 12noon London.

G/L
ex member
  • #266,139
  • Dec 9, 2010 4:34am Dec 9, 2010 4:34am
Well it's a trading edge !! Lol


  • #266,140
  • Dec 9, 2010 4:50am Dec 9, 2010 4:50am
Quoting naboo
popsi are you based in the uk?
Hi Naboo, i'm currently inhabiting planet seriously confused....lol !.
Yeh UK...somewhere in Wales most of the time. Where you? Seem to have got it in my head that you're in London. Well done on your trade earlier, i got up too late to catch it. G/ L rest of today.
All systems of divination, like music itself,work through patterns.
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