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Cable Update (GBPUSD)

  • #268,321
  • Jan 12, 2011 1:22am Jan 12, 2011 1:22am
Quoting bbakker
Got filled during the Asia session and now Frankie is driving the price lower. I am being cautious though because of the typical Frankie fake before the London reverse. Let's see what happens!
Hi 1bb,

Long time not to see you...
How are you... and your Family ?
Always looking the GREAT, never left GOOD Point...
  • #268,322
  • Jan 12, 2011 1:26am Jan 12, 2011 1:26am
what happened at GU?
what makes news ekonmi GU ride,,? : (
yesterday i have loss more than 90pips for sell GU,,
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only an analysis, and I'm always wrong, don't follow me,
  • #268,323
  • Jan 12, 2011 1:32am Jan 12, 2011 1:32am
Quoting andelumut
what happened at GU?
what makes news ekonmi GU ride,,? : (
yesterday i have loss more than 90pips for sell GU,,
the four hour up trend has breeched the descending daily trendline...
  • #268,324
  • Jan 12, 2011 1:33am Jan 12, 2011 1:33am
Quoting Low
Dr. D,

How bout you throw those MA's of your up on nzdchf weekly and tell me what ya think.

I feel like I've been watching it forever...lol.
Here is my take on NZDCHF -

I have two nice daily supply zones at 0.7485-0.7521 and 0.7548-0.7565 for potential reversal. The first supply zone has a nice drop in price from it, the second supply zone is a wicky and a actually a retrace back to the supply zone at 0.7559-0.7622. Therefore my play on this pair would be a short from 0.7520 with a SL of 50 pips + spread (61.8 fib confluence) or a short from 0.7610 with a SL of 33 pips + spread. The weekly supply zone is between 0.7600-0.7837. I have set an alarm at 0.7485 for a heads up. Arrival into these zones are key... I will be looking for a big up surge candlestick (green) for the trigger.
  • #268,325
  • Jan 12, 2011 1:45am Jan 12, 2011 1:45am
Quoting Tsar
Hi 1bb,

Long time not to see you...
How are you... and your Family ?
Hey Tsar! I am doing well thank you. I hope you and your family are doing well too.

Not much time for trading at the moment as I am very busy at work, so I am trading of the daily charts for now. Back at OTA next week for my first retake Forex course with a different instructor. One can retake the course as many times as you like without additional costs. The course is 6 days long and it will give me a chance to finally complete my trading plan, as we will be covering some very basic stuff for the new students. I will be quietly typing away on the corner. The plan is very different to what it was when I first started writing it.

I was supposed to complete it over my Xmas break, but instead a big customer had some serious business critical production down issues which I had to work on. We finally got it resolved on the 5th Jan with 4 different code fixes! Next week I can solely focus on Forex, but I will not be trading at all.

My time on FF is much less and less now as I spend more time on Skype with fellow traders from the OTA school who trade the same way and there might be some Forex business opportunities for me too. Let's see what happens! I always take it one step at a time!

Wish you success with your trading and take is easy!
  • #268,326
  • Jan 12, 2011 1:46am Jan 12, 2011 1:46am
Thanks for the replies
  • #268,327
  • Jan 12, 2011 1:49am Jan 12, 2011 1:49am
Quoting bbakker
Got filled during the Asia session and now Frankie is driving the price lower. I am being cautious though because of the typical Frankie fake before the London reverse. Let's see what happens!
Frankie is down and then up back to entry, rather than just down...
  • #268,328
  • Jan 12, 2011 1:50am Jan 12, 2011 1:50am
The pound does appear to have broken it's upper TL. Probably see a retest during London.

I'm long EU from this morning, maybe everything wants to be green for a bit.
  • #268,329
  • Jan 12, 2011 1:51am Jan 12, 2011 1:51am
short at 1.5645. TP 1.5590 SL 1.5685.
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  • #268,330
  • Jan 12, 2011 1:56am Jan 12, 2011 1:56am
Quoting andelumut
what happened at GU?
what makes news ekonmi GU ride,,? : (
yesterday i have loss more than 90pips for sell GU,,
Take it This INDI in my Post Yesterday #268260
It's will HELP you to know TREND Market's going on...
Always looking the GREAT, never left GOOD Point...
  • #268,331
  • Jan 12, 2011 1:59am Jan 12, 2011 1:59am
D1
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  • #268,332
  • Jan 12, 2011 2:03am Jan 12, 2011 2:03am
Quoting andelumut
what happened at GU?
what makes news ekonmi GU ride,,? : (
yesterday i have loss more than 90pips for sell GU,,
be happy. no worries. it is part and parcel of trading.
always observe the Price Action (PA) of the pair. That's the best trading tool.
  • #268,333
  • Jan 12, 2011 2:05am Jan 12, 2011 2:05am
Quoting bbakker
Hey Tsar! I am doing well thank you. I hope you and your family are doing well too.


Wish you success with your trading and take is easy!
Ooo... You're too Bussy Now.

I'm and my Family well.
I wish your Business will Success, Bro.
Always looking the GREAT, never left GOOD Point...
  • #268,334
  • Jan 12, 2011 2:06am Jan 12, 2011 2:06am
The issue I have is that it is making HLs on the h1 and we have visited the supply zone at 1.5650 for a 3rd time now (twice today and on the 31st Dec). The more times it visits the zone, the more sell orders get filled and you will eventually run out of sellers. Akin to chopping down a tree.

Obviously if buyers get exhausted, price will collapse from the supply zone and you get the reversal!

Let's hope London have plenty of sell orders in this supply zone! 1.5650 is a significant price point on my chart. If we break through this supply zone we could see ~1.5900!
  • #268,335
  • Jan 12, 2011 2:12am Jan 12, 2011 2:12am
G/M,

Price breeches yesterday's5639 Hi to the upside but finds some supply at the previous 4hr/daily swing hi zone extending to 5664. Weekly and Daily R1 pivots also at current Daily Hi.

Near-term 4hr screenshot below..Unbreeched fibs shown are plotted from the 4 x major 4hr/daily swing Hi'ss from and including 6297 to 5343
Uk Trade Balalnce data later.

G/L

http://www.easy-upload.net/fichiers/z.201111291520.gif
ex member
  • #268,336
  • Jan 12, 2011 2:15am Jan 12, 2011 2:15am
hmm... can we break and stay above last week's high ?


rgds.iqyu
not euphoria follower
  • #268,337
  • Jan 12, 2011 2:15am Jan 12, 2011 2:15am
Another reason for staying in my short is that we have not touched Magix's daily rollover yet at 1.5597. I have to leave for work in 30mins... I might have to tweak my position by tightening the SLs and TPs before I leave.
  • #268,338
  • Jan 12, 2011 2:25am Jan 12, 2011 2:25am
The 1st test of the potential resistance zone saw a pullback only to the 38.2% of the recent 1hr swing 5545-current 5658 Hi....price testing zone again, looking v. bullish atm

G/L
ex member
  • #268,339
  • Jan 12, 2011 2:27am Jan 12, 2011 2:27am
My CCI indicators on all the timeframes apart from the weekly are in overbought territory (m5 -> d1). Maybe London is trying a little push up before the news release in 1 hour which is the catalyst for a drop. Of course I could be wrong
  • #268,340
  • Jan 12, 2011 2:29am Jan 12, 2011 2:29am
Quoting bbakker
Another reason for staying in my short is that we have not touched Magix's daily rollover yet at 1.5597. I have to leave for work in 30mins... I might have to tweak my position by tightening the SLs and TPs before I leave.
I'd be careful up here. We could drop if WS1 holds. Smack up against it and R1 now.

Don't know what rollover you're looking at, but we're above the Daily Open, DPP, WPP, MPP, Monthly Dynamic Balance Point and currently testing Daily 50ema. That's the breakout point for more upside.

5700/5740 next if we do. (may get a pullback off 5686)
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