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Cable Update (GBPUSD)

  • #266,641
  • Dec 15, 2010 12:22pm Dec 15, 2010 12:22pm
Quoting bbakker
I assume this is multiple lots as EU has not moved 441 pips today. 10 lots @ 44.1 pips each?
Good day to you,

No - 5 individual positions entered

sell @ 1.3361 closed @ 1.3260 (+101)
sell @ 1.3351 closed @ 1.3260 (+91)
sell @ 1.3346 closed @ 1.3260 (+86)
sell @ 1.3343 closed @ 1.3260 (+83)
sell @ 1.3340 closed @ 1.3260 (+80)

Regards
  • #266,642
  • Dec 15, 2010 12:25pm Dec 15, 2010 12:25pm
Quoting bbakker


My daily demand level is 1.5484-1.5570. Here is the link to my chart that I posted 5 hrs ago. We are just entering the demand zone now!

http://www.forexfactory.com/showthre...96#post4244996
Depends on how you draw s/r. I don't use traditional s/r. I look to where b/e stops will be.
  • #266,643
  • Dec 15, 2010 12:26pm Dec 15, 2010 12:26pm
Quoting bbakker
The hourly correlation stands at -1.4% which is exactly what you are describing above. GBPUSD dropping like it is hot and USDCHF is between a rock and a hard place, and it has just broken north!

when that picks up ground which it is doing..we really going to move..the move hasnt even started that will trigger next week on sunday open..we have what i wanted bearish outside weekly bar..lucky me



Quoting nAVIN2007

there was a reaction at 50% retrace, typically me being aggressive has made me sell at prices a lot lower than if i waited for a signal..(assuming this week may give a weekly bearish pin) it could give a breaish outside bar..then this aggressive play would have been good..otherwise..im trading like an idiothttp://cdn.forexfactory.com/images/s..._the_floor.gifhttp://cdn.forexfactory.com/images/s..._the_floor.gif

be lucky
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  • #266,644
  • Dec 15, 2010 12:27pm Dec 15, 2010 12:27pm
Quoting nAVIN2007
no offense but yur chart u posted, with yur view no comment..u are trading with a belief of what will happen as appossed what is hapenning..

monthly is bearish..which means price over one month cannot stay at those levels..so why would u expect price to price go back

would the smart money not sell

plz explain why u think it is going up? ..just trying to understand yur logic behind the thought
lol. The sell off was on the cards. I am surprised it didn't come a little sooner, but as the experienced cable traders always point out, cable loves that 50% fib retracement! We should get a bounce at the ~1.55 area.
  • #266,645
  • Dec 15, 2010 12:32pm Dec 15, 2010 12:32pm
Quoting nunrgguy
Depends on how you draw s/r. I don't use traditional s/r. I look to where b/e stops will be.
They are not S/R lines. They are demand and supply zones and each zone consists of two lines! The space inbetween the two lines that range from 30-100 pips are the supply zones (above price) and the demand zones (below price). I don't like S/R lines... zones give me more to work with!
  • #266,646
  • Dec 15, 2010 12:33pm Dec 15, 2010 12:33pm
long on the beast!
  • #266,647
  • Dec 15, 2010 12:34pm Dec 15, 2010 12:34pm
Quoting bbakker
lol. The sell off was on the cards. I am surprised it didn't come a little sooner, but as the experienced cable traders always point out, cable loves that 50% fib retracement! We should get a bounce at the ~1.55 area.

yup its characteric ..i have been on the bull run for months but u cant ignore the charts..they could be a huge sell off of the pound..becarefull not to try catch a falling knive..wait for a signal descent enought to over turn this
  • #266,648
  • Dec 15, 2010 12:34pm Dec 15, 2010 12:34pm
Quote:
They are not S/R lines. They are demand and supply zones and each zone consists of two lines! The space inbetween the two lines that range from 30-100 pips are the supply zones (above price) and the demand zones (below price). I don't like S/R lines... zones give me more to work with!

So...I don't get the argument?? I don't use what you're using. I look to b/e areas following significant momentum. So what?? You trade your beliefs, I'll trade mine.
  • #266,649
  • Dec 15, 2010 12:36pm Dec 15, 2010 12:36pm
Quoting nAVIN2007
when that picks up ground which it is doing..we really going to move..the move hasnt even started that will trigger next week on sunday open..we have what i wanted bearish outside weekly bar..lucky me
I pulled the trigger last night. My last new position this year. I said I wasn't going to, but it looked a nice opportunity as it hit my daily demand level!

Entry: 0.9566
SL: 0.9534 (32pip SL)
TP1: 0.9674
TP2: 0.9894
TP3: The moon...lol (Trailing Stop as usual)

Let's hope it works! Out of my hands now!

My GBPCAD short has reached a new low at +815 pips profit. This one was a 42 pip SL :-)
  • #266,650
  • Dec 15, 2010 12:41pm Dec 15, 2010 12:41pm
Quoting nunrgguy
Quote:
They are not S/R lines. They are demand and supply zones and each zone consists of two lines! The space inbetween the two lines that range from 30-100 pips are the supply zones (above price) and the demand zones (below price). I don't like S/R lines... zones give me more to work with!

So...I don't get the argument?? I don't use what you're using. I look to b/e areas following significant momentum. So what?? You trade your beliefs, I'll trade mine.
Who said anything about an argument. You stated that my lines on my chart were S/R lines, which they are not and I just pointed that out to you.... but hey please don't look at my charts. They are for my eyes only... lol
  • #266,651
  • Dec 15, 2010 12:42pm Dec 15, 2010 12:42pm
Quoting bbakker
Who said anything about an argument. You stated that my lines on my chart were S/R lines, which they are not and I just pointed that out to you.... but hey please don't look at my charts. They are for my eyes only... lol
LOL. No need for me to look at your charts. I'm not trading them.
  • #266,652
  • Dec 15, 2010 12:42pm Dec 15, 2010 12:42pm
Good day to you,

As Bbakker suggests, price has entered / touched a major support start zone. I mentioned the 1.5561 number earlier. This zone, according to my calculation - stretches down to around 1.5480.

A break below 1.5480 and 1.5480 area turning resistance, the next support zone starts @ 1.5356 down to 1.5294. Care should be taken from hereon with regards to further shorts - until such time that price breaks through this zone. At least how I look at it...

It's highly unlikely that price will just continue through this area without a bit of bi-directional movement / or choppiness. Of course, these areas could also give a reversal.

Regards
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  • #266,653
  • Dec 15, 2010 12:43pm Dec 15, 2010 12:43pm
Quoting nunrgguy
LOL. No need for me to look at your charts. I'm not trading them.
I wish you success with your trading!
  • #266,654
  • Dec 15, 2010 12:46pm Dec 15, 2010 12:46pm
Time to go home. I wish you all a merry Xmas and happy New Year (again!)... this time I mean it. No more FF or new trades until January!

Be good, enjoy the festivities (if you celebrate Xmas) and success with your trading!
  • #266,655
  • Dec 15, 2010 12:50pm Dec 15, 2010 12:50pm
Quoting bbakker
Time to go home. I wish you all a merry Xmas and happy New Year (again!)... this time I mean it. No more FF or new trades until January!

Be good, enjoy the festivities (if you celebrate Xmas) and success with your trading!
All the best to you - rest well and enjoy the holidays.

Regards
  • #266,656
  • Dec 15, 2010 1:00pm Dec 15, 2010 1:00pm
Yes, Merry Christmas to one & all.

http://i1236.photobucket.com/albums/...guy/weekly.gif

http://i1236.photobucket.com/albums/...gguy/daily.gif
  • #266,657
  • Dec 15, 2010 1:05pm Dec 15, 2010 1:05pm
Quoting TauTrader
All the best to you - rest well and enjoy the holidays.

Regards
Good luck, all the best for 2011.
You've got to be IN IT to WIN IT!
  • #266,658
  • Dec 15, 2010 1:10pm Dec 15, 2010 1:10pm
Quoting Ifty
Good luck, all the best for 2011.
Good day to you, Ifty

thank you - your wishes appreciated. Back at you!

May you prosper and enjoy wealth, health and happiness

Regards
  • #266,659
  • Dec 15, 2010 1:49pm Dec 15, 2010 1:49pm
she just broke her water..she about to give birth ..

the bus is getting full
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  • #266,660
  • Dec 15, 2010 2:02pm Dec 15, 2010 2:02pm
Looking for a few counters here, 200 pips on cross, holding until I see the counter cross...
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