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Cable Update (GBPUSD)

  • #268,181
  • Jan 10, 2011 3:55am Jan 10, 2011 3:55am
Quoting chazzle
Morning Gsantri - I got 15511 from IG Index - (O , H , C / 3)
Cheers Chaz, looks like mine is in play its also 50 fib of Friday LH.

Let's short scalping more my friend
  • #268,182
  • Jan 10, 2011 3:58am Jan 10, 2011 3:58am
Quoting chazzle
Happy New Year BB!

Just going on todays sentiment for scalps on M5 dude and thats 86 pips to the downside in 1 hour - look at that missed an entry by 2 pips
Hi, and a HNY to you too, hope 2011 is good for u.

I was looking for a 5min hidden div entry short but only got the hidden div in 1 of the 3 x osc here (osma) not in the other 2 which I look for so remained flat on that one.

G/L
ex member
  • #268,183
  • Jan 10, 2011 4:01am Jan 10, 2011 4:01am
Quoting chazzle
Currently looking at 15505 - 15511 as a retrace to enter main direction of the day: 38% of this morning's move , H1 SMA200 and DP
Enter @ 15508
  • #268,184
  • Jan 10, 2011 4:10am Jan 10, 2011 4:10am
Quoting grashid
...open ur H4 and daily n draw ur UTL
sorry miss to attach the daily chart ..
Attached Image (click to enlarge)
Click to Enlarge Name: GU Prim-daily.JPG Size: 181 KB
  • #268,185
  • Jan 10, 2011 4:10am Jan 10, 2011 4:10am
Pullback off 5474 (weekly M3) and currently daily Lo, following the downside break of 1hr congestion just off Friday's Hi 5578...has seen price arrive @ the the Daily Pivot 5509/38.2% of the current daily Hi-lo.

5min and 15min have printed a HL off that current Daily Lo.


G/L

http://www.easy-upload.net/fichiers/Z.2011110111015.gif
ex member
  • #268,186
  • Jan 10, 2011 4:12am Jan 10, 2011 4:12am
Quoting chazzle
Enter @ 15508
That looks about 'cock-on' to me.
"I made all my money by selling too soon"
  • #268,187
  • Jan 10, 2011 4:24am Jan 10, 2011 4:24am
Although there was now indeed 5min hidden divergence in all 3 x oscillators at the current pullback hi (daily pivot and 38.2% current daily H-L) 5min and 15min had put in a HL which put me off taking the short signal....also as mentioned earlier 1hr was more a break of congestion with a L on that 1hr at today's current daily Lo as opposed to a real downtrend.

Anything can happen of course and the sentiment was bearish with that downside break, but it didn't stack up for me as a hi-probability opportunity to get short from there...whatever happens.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: Z.gif Size: 17 KB
ex member
  • #268,188
  • Jan 10, 2011 4:27am Jan 10, 2011 4:27am
WEEKLY TREND - SHORT

The weakness in the British economy is clearly seen, and we haven’t felt the austerity measures yet. Even if a rate hike comes sooner than later, the pound has more room to fall.

SHORT 1.5552 T.P 1.5480 NEXT 1.5440

these are all minor support major support seats around 1.5350




http://pipssignal-free.blogspot.com/
  • #268,189
  • Jan 10, 2011 4:32am Jan 10, 2011 4:32am
Quoting Bleek
That looks about 'cock-on' to me.
could be ... M5 close above 15517 (50% of today's move and the Sunday night low) and I will probably cover ... looking for TP @ the higher low on M5 roughly 15480
  • #268,190
  • Jan 10, 2011 4:36am Jan 10, 2011 4:36am
Quoting chazzle
could be ... M5 close above 15517 (50% of today's move and the Sunday night low) and I will probably cover ... looking for TP @ the higher low on M5 roughly 15480
I didn't expect it to move particularly quickly from here, that looks to be the case.

We need to see a break of 475 because there's plenty of room down to 430 from there. A break of 510 and we're likely away north until we hit 525-30 where there's more recent congestion.

My ST is 15 points, TP is generally 30 points and I roll my stop to BE once the market moves +10-15 in my favour.

So my stop is already at BE - it might be a little premature in this instance but it's just my safe way of playing the markets.
"I made all my money by selling too soon"
  • #268,191
  • Jan 10, 2011 4:46am Jan 10, 2011 4:46am
clearly some supply at DP/38.2% current daily H-L - that pullback H from current daily Lo.... but it is supported on the dips from there atm.

G/L
Attached Image
ex member
  • #268,192
  • Jan 10, 2011 4:50am Jan 10, 2011 4:50am
Quoting Bleek
So my stop is already at BE - it might be a little premature in this instance but it's just my safe way of playing the markets.
You're right to be cautious Bleek - too easy to give it all back to the market
  • #268,193
  • Jan 10, 2011 4:54am Jan 10, 2011 4:54am
Possible H&S developing on M5 ... but I'll be out at the neckline if we get there
Attached Image (click to enlarge)
Click to Enlarge Name: poshs.PNG Size: 12 KB
  • #268,194
  • Jan 10, 2011 5:01am Jan 10, 2011 5:01am
Quoting chazzle
You're right to be cautious Bleek - too easy to give it all back to the market
Very much so, I took a short from 542 this morning for 'just' 32 pips. That's more than enough.

I just took +13 at that equal low around 490 on the M5.

I think that's me done for the day.
"I made all my money by selling too soon"
  • #268,195
  • Jan 10, 2011 5:01am Jan 10, 2011 5:01am
Quoting chazzle
Possible H&S developing on M5 ...
scratch that
  • #268,196
  • Jan 10, 2011 5:02am Jan 10, 2011 5:02am
Quoting Bleek
Very much so, I took a short from 542 this morning for 'just' 32 pips. That's more than enough.

I just took +13 at that equal low around 490 on the M5.

I think that's me done for the day.
Nice work
  • #268,197
  • Jan 10, 2011 5:17am Jan 10, 2011 5:17am
Finishing here for day as price gives back over 50% of it's current daily H-L fall, the pullback off today's current Lo reaching 50% of Friday's Hi - that Lo..... 2 x HL and a H now on 15min.

Current main/obvious Potential supp/res factors on 1hr, below..

G/L

http://www.easy-upload.net/fichiers/z.2011110121713.gif
ex member
  • #268,198
  • Jan 10, 2011 5:25am Jan 10, 2011 5:25am
Quoting Bleek
I didn't expect it to move particularly quickly from here, that looks to be the case.

We need to see a break of 475 because there's plenty of room down to 430 from there. A break of 510 and we're likely away north until we hit 525-30 where there's more recent congestion.
Oops, didn't listen to my own advice and take those 20 pips!
"I made all my money by selling too soon"
  • #268,199
  • Jan 10, 2011 6:33am Jan 10, 2011 6:33am
Quoting chazzle
Enter @ 15508
Closing for BE will see what NY brings
  • #268,200
  • Jan 10, 2011 6:48am Jan 10, 2011 6:48am
Quoting chazzle
Closing for BE will see what NY brings
The same short would work again for a small gain.

I often find this with re-tracements, if you make a gain you can re-enter once more.

I was just a few pips off re-entering my short from this morning and it would have worked just the same.

However I need to be strict because I've hit my target for the day... still can't help but look at the 5m chart though!
"I made all my money by selling too soon"
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