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Cable Update (GBPUSD)

  • #267,101
  • Dec 21, 2010 11:56am Dec 21, 2010 11:56am
Quoting redsword11
bought cable @ 1.54492 stops @ 1.54155
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scalped for now, awaiting further PA
  • #267,102
  • Dec 21, 2010 1:57pm Dec 21, 2010 1:57pm
Quoting kill56
how are man long time no see hope all great and grean
Hey Kill,

All has been very well. I have been very busy with starting a new company but still been pulling in green w/ the trades. Currently I like the shorts. Think we may see sub 5000 again. Monthly chart is seeing a nice lower high, with a bearish engulfing and a bearish candle following that. How have you been?
  • #267,103
  • Dec 21, 2010 2:11pm Dec 21, 2010 2:11pm
Quoting Togu
That' a flag, Don't you think?
We have had a series of flags for a while now continuing the downtrend. Here is my post from 12/17.. http://www.forexfactory.com/showpost...stcount=266927 my bias has not changed. We drop... rise in a flag motion..

Look at your monthly chart..

1. Bounced right off resistance
2. Lower high
3. Bearish engulfing candle
4. overall downtrend atm.

Safe with shorts IMHO

C.
  • #267,104
  • Edited 2:21pm Dec 21, 2010 2:20pm | Edited 2:21pm
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Quoting chazzle
Hi Togu , tbh just getting my head around different patterns at the moment and no expert - I looked at investopedia to make sure what I thought was right was , well er ,right
Looks more like a flag now it broke out of the DT to the downside , is that what you mean?
http://stockcharts.com/help/doku.php...ding_triangle_

You are right, it is a flag that broke out bottom side. Also look at month chart... that is a bearish engulfing candle. Here is a nice looking daily chart that should get us a bit lower as well.
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  • #267,105
  • Dec 21, 2010 3:25pm Dec 21, 2010 3:25pm
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  • #267,106
  • Dec 21, 2010 5:21pm Dec 21, 2010 5:21pm
Going on a little strength and weakness scale...

If anybody was looking at a reason to take a long ride on the dragon, I got one really good one....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,107
  • Dec 21, 2010 7:41pm Dec 21, 2010 7:41pm
today is a big day..,becareful everyone...,i try to post a chart but my internet still not so good,..,take care around daily 200 MA.,,good luck.
I will be the number one Manager.
  • #267,108
  • Dec 21, 2010 8:53pm Dec 21, 2010 8:53pm
Quoting TauTrader
Good day to you,

Gonna short to 83.48 SL above the weekly open @ 83.95. Entered @ 83.83 and 83.85.

regards
Ugh - cut for cents. Patience over.

Regards
  • #267,109
  • Dec 21, 2010 10:50pm Dec 21, 2010 10:50pm
Quoting javapips
today is a big day..,becareful everyone...,i try to post a chart but my internet still not so good,..,take care around daily 200 MA.,,good luck.
Agree with you on this one. But perhaps we might be able to see some rebound even if it wants to break below the 200MA. Seems like the institutional traders are looking at the PA carefully at the moment. And personally I believe it somehow will bounce from this area bcuz of the holidays.
  • #267,110
  • Dec 21, 2010 11:11pm Dec 21, 2010 11:11pm
Going for a little long: always difficult at this time of day when there is no clear dirrection for the day, but the trend looks up
  • #267,111
  • Dec 21, 2010 11:49pm Dec 21, 2010 11:49pm
Dollar index H4
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  • #267,112
  • Dec 22, 2010 12:06am Dec 22, 2010 12:06am
22-12-2010 GBPUSD
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  • #267,113
  • Dec 22, 2010 12:13am Dec 22, 2010 12:13am
intraday bias in GBP/USD is turned neutral and some consolidations might be seen. But upside should be limited well below 1.5909 resistance and bring another fall. Below 1.5455 will target 61.8% projection of 1.6298 to 1.5484 from 1.5909 at 1.5406 first. Break will target a test on 1.5296 level.


Intra-day trading strategy:


1- Sell near 1.5550 stop 1.5580 targets 1.5500 and 1.5450
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  • #267,114
  • Dec 22, 2010 12:37am Dec 22, 2010 12:37am
Quoting LetsTrade
Going for a little long: always difficult at this time of day when there is no clear dirrection for the day, but the trend looks up
Agree with you - someone seems trying to hold it down - for a better buy ! But for the present it is all TF down. I am long 1.5496
  • #267,115
  • Dec 22, 2010 12:44am Dec 22, 2010 12:44am
Line of denial....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,116
  • Dec 22, 2010 12:46am Dec 22, 2010 12:46am
2 scenario on the picture
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  • #267,117
  • Dec 22, 2010 1:00am Dec 22, 2010 1:00am
Quoting Hazarder
2 scenario on the picture
Still looks like the bears have control....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,118
  • Dec 22, 2010 1:12am Dec 22, 2010 1:12am
G/M

Could see some knee-jerk volatility around 0930am gmt, a triple release of data from Uk. The following is how Forexcrunch.com describe it.

G/L
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ex member
  • #267,119
  • Dec 22, 2010 1:27am Dec 22, 2010 1:27am
Hi Guys,

Hope you're all well God willing. Not been trading this week so thought I'd pop in and say hello. Looking at the charts I would personally stick to hit & run scalping like KILL, safe and best way me thinks. Might take a few 5 minute scalps here and there with tight 15 pip stops but nothing more. Good luck.
You've got to be IN IT to WIN IT!
  • #267,120
  • Dec 22, 2010 1:40am Dec 22, 2010 1:40am
Took a chance on the spike as the 5 min RSI & stochastics were in overbought area. As soon as the 200 day MA is reached or the stochastics points down, I wil exit.

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You've got to be IN IT to WIN IT!
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