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Cable Update (GBPUSD)

  • #268,401
  • Jan 12, 2011 4:55am Jan 12, 2011 4:55am
Quoting TauTrader
Good day to you,

the current move down, I would rather treat as a retracement only. We are still in bullish territory.

But my opinion only....

1.5550 area is my gate at this point. This number will change as we move along. I do however have a signal that a retrace may be underway. I also have a strong " over extension " on swissy - which indicates a move lower - this backs up the retrace theory - in theory.

Careful not to marry shorts....

Regards
Verily, in every difficulties there is relief
  • #268,402
  • Jan 12, 2011 4:57am Jan 12, 2011 4:57am
Quoting GlobalMacro
hey guys & gals,

short on break of 1.5616

still can't save charts hope to fix it soon...
Thanks Gm.
  • #268,403
  • Jan 12, 2011 4:59am Jan 12, 2011 4:59am
The previous 4hr swing hi x 2 zone, previous resistance is the first ' real ' downside obstacle for the bears in this bullish run up to 5680 from 5343...23.6% 5343-5680 4hr swing and 38.2% 5473- same 5680hi 1hr swing at the current pullback lo.

G/L

http://www.easy-upload.net/fichiers/z.2011112115818.gif
ex member
  • #268,404
  • Jan 12, 2011 5:03am Jan 12, 2011 5:03am
Quoting Bleek
Bart Simpson was a well known market speculator and he was often quoted as saying "eat my shorts".
Short closed at 599.

Done for the day, the earlier Long was a B/E but that's OK with me.
"I made all my money by selling too soon"
  • #268,405
  • Jan 12, 2011 5:13am Jan 12, 2011 5:13am
Quoting joemiami
U missed the UK data by half hour , data was bad. GU downnnnnnnn


I always Focus in my CHART.
I don't Care about NEWS anymore, because Price more Fast moved before News coming !

But...
Newbie's still Looking for that's !
Always looking the GREAT, never left GOOD Point...
  • #268,406
  • Jan 12, 2011 5:17am Jan 12, 2011 5:17am
Quoting Tsar
I don't Care about NEWS
I wouldn't worry about fundamentals unless trading LONG term, intra-day traders can pretty much ignore news - obviously the NFP is an exception to the rule.
"I made all my money by selling too soon"
  • #268,407
  • Jan 12, 2011 5:28am Jan 12, 2011 5:28am
MACD divergence on 30M is obvious also on 1H
we are going down
this is not a retracement
  • #268,408
  • Jan 12, 2011 5:35am Jan 12, 2011 5:35am
Good day to you,

Gonna start looking to build a long position within the next couple of hours. Do not follow - i'm lost...

This idea will be off the table if we break 1.5550 with conviction.

Regards
  • #268,409
  • Jan 12, 2011 5:36am Jan 12, 2011 5:36am
interesting to note

with the fib drawn on the h4 candlestick chart of the bull trend up
then switching to the line chart
each run up has seen a retrace back to the fib prior

so maybe a h4 close below the 38.2 fib before another leg up?

Attached Image
  • #268,410
  • Jan 12, 2011 5:40am Jan 12, 2011 5:40am
i'm in, Buy, base on..i don't know, SL 20 Pips. wish me luck.
I will be the number one Manager.
  • #268,411
  • Jan 12, 2011 5:42am Jan 12, 2011 5:42am
2/3 closed at DP, 1/2 closed at DP, SL at BE
final target 5530

Quoting scurt
added to short, because of PA, looking for DP (1,5584) as TP1 sl at daily high

Quoting scurt
Short cable 1,5655, tight sl, great RRR

EDIT:
1/3 closed for +30 pips, SL AT BE
  • #268,412
  • Jan 12, 2011 5:42am Jan 12, 2011 5:42am
Quoting javapips
i'm in, Buy, base on..i don't know, SL 20 Pips. wish me luck.
need more than just luck!
  • #268,413
  • Jan 12, 2011 5:43am Jan 12, 2011 5:43am
Quoting TauTrader
Good day to you,

Gonna start looking to build a long position within the next couple of hours. Do not follow - i'm lost...

This idea will be off the table if we break 1.5550 with conviction.

Regards
Isn't that avatar the dummies one?
  • #268,414
  • Jan 12, 2011 5:47am Jan 12, 2011 5:47am
Hi Tau! Hope you had a fun holiday

I agree we're still in Bull territory. If we get under 5530 then I'll change hats.

Still waiting on MPC before putting any serious positions on though. That should determine Sterling direction for the mid-term. Scalping near SR seems the safest bet until then with this bouncey PA.

Waiting to see what happens at DPP before my next move. Price is sitting on it like stuffed pidgeon. ...lol



Quoting TauTrader
Good day to you,

the current move down, I would rather treat as a retracement only. We are still in bullish territory.

But my opinion only....

1.5550 area is my gate at this point. This number will change as we move along. I do however have a signal that a retrace may be underway. I also have a strong " over extension " on swissy - which indicates a move lower - this backs up the retrace theory - in theory.

Careful not to marry shorts....

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: guw2345.gif Size: 33 KB
  • #268,415
  • Jan 12, 2011 5:50am Jan 12, 2011 5:50am
hi everyone

if gbpusd closing below than 1.5557 then further downside toward 1.5475. and if closing upside 1.5610 then further upside.
but today before closing mkt. can take short buy position for the next day morning.
  • #268,416
  • Edited 6:03am Jan 12, 2011 5:52am | Edited 6:03am
Quoting Bleek
I wouldn't worry about fundamentals unless trading LONG term, intra-day traders can pretty much ignore news - obviously the NFP is an exception to the rule.
Agree with you...

And before play TRADE always had a PLAN, CALCULATIONS and STRATEGIES (for Entry / Exit from the Market)

When got FAULT, I will NO REGRET it.
I always learn the Mistake that happened & do Better again, without Emotion and Head Cold...


In MEMORIAL :

My First Post before Play TRADE in #190409 Jan 2, 2010 11:16am
Always looking the GREAT, never left GOOD Point...
  • #268,417
  • Jan 12, 2011 5:53am Jan 12, 2011 5:53am
Quoting rashygomez
Isn't that avatar the dummies one?
Good day to you,

Correct. Dummy.

That is why I stated that I am lost. Herewith one of my latest books...

Wish you all the best!

Regards
Attached Image
  • #268,418
  • Jan 12, 2011 5:58am Jan 12, 2011 5:58am
Quoting bonus76
Thanks Gm.
np Bonus.
Hear the music before the song is over ...
  • #268,419
  • Jan 12, 2011 5:59am Jan 12, 2011 5:59am
Quoting TauTrader
Good day to you,

Correct. Dummy.

That is why I stated that I am lost. Herewith one of my latest books...

Wish you all the best!

Regards
All systems of divination, like music itself,work through patterns.
  • #268,420
  • Jan 12, 2011 5:59am Jan 12, 2011 5:59am
alright gotta run...see you guys later
Hear the music before the song is over ...
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