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Cable Update (GBPUSD)

  • #267,361
  • Dec 27, 2010 2:06am Dec 27, 2010 2:06am
Quoting gsantri
Now it is below daily roll. is it a retest/pullback or..?
Drop to the 1m chart and see if we get the Nene.tpl triggers in favor of the last big move.

I would expect London to at least retrace the hod, but the 1m chart is our only support right now. We are just below the 200 on 1m but have not triggered to short side yet....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,362
  • Dec 27, 2010 2:23am Dec 27, 2010 2:23am
Quoting Magix
Drop to the 1m chart and see if we get the Nene.tpl triggers in favor of the last big move.

I would expect London to at least retrace the hod, but the 1m chart is our only support right now. We are just below the 200 on 1m but have not triggered to short side yet....
I entered long already @1.5428 as it failed break below H4 LONG BREAKOUT level on voodoo tpl. SL @1.5418 1st TP 5468.

Let's see what happen.
  • #267,363
  • Dec 27, 2010 2:32am Dec 27, 2010 2:32am
Quoting gsantri
I entered long already @1.5428 as it failed break below H4 LONG BREAKOUT level on voodoo tpl. SL @1.5418 1st TP 5468.

Let's see what happen.
Price is above daily open...long sign...you are playing with the trend my friend. Second line of support on the 5m 200...

London holidays still, not sure what we could see here, but an expectation of continuation of the immediate trend is typically the safe bet. Friday closed above daily roll, today opened higher...FWIW that is still considered an uptrend.

Crazy Christmas season trading can be dodgey...as long as your ass is covered, you are doing what you should be done under regular market conditions.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,364
  • Dec 27, 2010 2:35am Dec 27, 2010 2:35am
Quoting gsantri
I entered long already @1.5428 as it failed break below H4 LONG BREAKOUT level on voodoo tpl. SL @1.5418 1st TP 5468.

Let's see what happen.
chart
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  • #267,365
  • Dec 27, 2010 2:42am Dec 27, 2010 2:42am
Quoting Magix
Price is above daily open...long sign...you are playing with the trend my friend. Second line of support on the 5m 200...

London holidays still, not sure what we could see here, but an expectation of continuation of the immediate trend is typically the safe bet. Friday closed above daily roll, today opened higher...FWIW that is still considered an uptrend.

Crazy Christmas season trading can be dodgey...as long as your ass is covered, you are doing what you should be done under regular market conditions.
It's always a bit confusing trading on Monday, the pivot, S/R, fib etc. are messed up with Sunday data.

Should I use it or just ignore?
  • #267,366
  • Dec 27, 2010 2:49am Dec 27, 2010 2:49am
Quoting gsantri
It's always a bit confusing trading on Monday, the pivot, S/R, fib etc. are messed up with Sunday data.

Should I use it or just ignore?
I keep an eye on the cams, and the pivots, but for the most part the 200EMA's are what I work off of. It is only when we break out that I use additional indicators for an idea of s/r levels.

Right now, we are all inside candles. from base of daily chart through to M30/hourly...

I would somewhat expect resistance if we make it to 200EMA on hourly chart, but again, Christmas trading.....

Long story short...

Too much shit on any 1 give chart can drive you a little nucking FutZ...follow the money on whatcha got and keep your safety on.

You might notice that I post charts from both 4 and 5 dig brokers, and have posted several different charts. I toggle threw a buttload of info to make sure I have all the angles covered. When I posted the Nene.tpl it was for safety moves on the minimum 30m chart, and if you have followed it for the last week or so, you would have made out quite well on it alone. Taking this information and applying it to the other timeframes will get you from where you are now, to one step closer to your goal.

Again...walking before running.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,367
  • Dec 27, 2010 3:05am Dec 27, 2010 3:05am
Took 26p 0.65% shorting Franky opening from5454 still shorting long term down
  • #267,368
  • Dec 27, 2010 3:20am Dec 27, 2010 3:20am
Quoting Magix
I keep an eye on the cams, and the pivots, but for the most part the 200EMA's are what I work off of....
Exactly.
Now I like to put voodoo along with nene and ordinary chart Piv, S/R, fibs, TL and Divergence. It works for me.

and you know what, I've downloaded voodoo tpl from your jounal thread long time ago, maybe 4-5 months. but never use it, looks too complicated.

Last weeks I reloaded it to my chart and ah.. I knew it.

Silly me heh..
  • #267,369
  • Dec 27, 2010 3:27am Dec 27, 2010 3:27am
Quoting Magix
I keep an eye on the cams, and the pivots, but for the most part the 200EMA's are what I work off of....
what about my position,,?
What should be closed,,?
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only an analysis, and I'm always wrong, don't follow me,
  • #267,370
  • Dec 27, 2010 3:47am Dec 27, 2010 3:47am
Bull or bear: the moment of victory will always come, only not a pig
  • #267,371
  • Dec 27, 2010 3:47am Dec 27, 2010 3:47am
Quoting andelumut
what about my position,,?
What should be closed,,?
Well my friend, you have yourself in a bit of a pickle here...and as far as assistance, I am afraid I cannot be of much...

I am not sure what your MM is nor your tolerance for loss..I prefer to be on the proper side of the trade and if it fails, exit with as minimal of loss as I see fit.

If market pattern continues, I full on expect a shot at hitting the 200EMA on the hourly chart, and from there a possible strong reaction that sends us back testing the monthly lows, but until we get there, I cannot say for sure.

All honesty, whenever I have found myself that deep in red, I take exit all positions and sit out market for a few days (take the time to figure out where I went wrong). Maybe I make this stuff look easy, but I have only taken a fist full of trades in the last week and really only a couple today, sitting flat right now...and will most likely be away from market for the rest of the week and past the January NFP...this can be a really tough time to trade....

What would I do?...exit all...take some time off...
What should you do? What ever makes the most amount of sense to you.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,372
  • Dec 27, 2010 4:01am Dec 27, 2010 4:01am
Quoting andelumut
what about my position,,?
What should be closed,,?
You passed the opportunity to close trade in profit.
On market conditions like this just don't be greedy.

As Magix said it will retrace down later, you can close it then.
I hope you can out in profit, but break even is good enough I think.
  • #267,373
  • Dec 27, 2010 4:08am Dec 27, 2010 4:08am
Long 1.5449 SL 1.5421 TP 1.5481 TP 1.5491
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  • #267,374
  • Dec 27, 2010 4:10am Dec 27, 2010 4:10am
Quoting gsantri
I entered long already @1.5428 as it failed break below H4 LONG BREAKOUT level on voodoo tpl. SL @1.5418 1st TP 5468.

Let's see what happen.
I don't like the PA.
Closed 0.6 volume for 20 pips, SL moved to BE.

Let the remaining run.
  • #267,375
  • Dec 27, 2010 4:14am Dec 27, 2010 4:14am
Quoting gsantri
I don't like the PA.
Closed 0.6 volume for 20 pips, SL moved to BE.

Let the remaining run.
Very well done sir!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,376
  • Dec 27, 2010 4:25am Dec 27, 2010 4:25am
Quoting Magix
Very well done sir!
Thank You
  • #267,377
  • Dec 27, 2010 4:45am Dec 27, 2010 4:45am
Hi all ... I'm short from 15448 TP30 SL20 looking for DEC17 low 15455 for a bit of resistance .... sorry can't post a chart - I'm on my sisters computer and dont know my way around it but look at H4 and draw a line there 15455
  • #267,378
  • Dec 27, 2010 4:46am Dec 27, 2010 4:46am
i guess Gbp/usd heading for 5480....
  • #267,379
  • Dec 27, 2010 4:52am Dec 27, 2010 4:52am
Quoting chazzle
Hi all ... I'm short from 15448 TP30 SL20 looking for DEC17 low 15455 for a bit of resistance .... sorry can't post a chart - I'm on my sisters computer and dont know my way around it but look at H4 and draw a line there 15455
Cheers Chaz,

Good for your sister, she can get 50% of your profit !
  • #267,380
  • Dec 27, 2010 4:57am Dec 27, 2010 4:57am
Quoting gsantri
Cheers Chaz,

Good for your sister, she can get 50% of your profit !
I'm sure she would have no problems about that .... now I wonder if she would share 50% of loss?
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