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Cable Update (GBPUSD)

  • #269,161
  • Jan 20, 2011 2:09am Jan 20, 2011 2:09am
Quoting wormboy
nice to see we're looking at the same thing brother

I sold @5954 & placed stop @6079. Took the trade as price closed below yesterday's low after the strong rejection at the w1 resistance. Ultimately I'll be looking towards the W1 pvp @5744 to take profit, but will likely take partial
profit @5860

Good luck to us & happy thaiposam
wow Wormboy! over a hundred pip stop. how do you guys do it? they keep telling us noobs to keep our stops minimal and the stops keep getting hit! frustrating! meanwhile cable is driving me crazy as it were. you keep expecting it to go down after being rejected at a key level and it keeps goin up. then it looks like going for the next level and you buy , then it starts to drop. then you re-plot and enter a sell@ the price you just mentioned. guess what..? it starts to rise towards your 57 pip stop that you put behind the preceeding key level!!! what the....!!!
  • #269,162
  • Jan 20, 2011 2:10am Jan 20, 2011 2:10am
Quoting PhAnTi'
yes, closed below 5933 and bounced back up.

this PA sucks !
thats an understatement! it is driving me round the bend!! is it that these market makers are playing hide and seek with retailers or what?
  • #269,163
  • Jan 20, 2011 2:12am Jan 20, 2011 2:12am
Quoting lechidi
thats an understatement! it is driving me round the bend!! is it that these market makers are playing hide and seek with retailers or what?
i dont know, seems to be a huge volume here in the market right now.
PA is testing a huge support zone, that causes some bounces.

lets see.

i guess gu will drop.
Hero calls followed by margin calls...
  • #269,164
  • Jan 20, 2011 2:16am Jan 20, 2011 2:16am
Quoting PhAnTi'
i dont know, seems to be a huge volume here in the market right now.
PA is testing a huge support zone, that causes some bounces.

lets see.

i guess gu will drop.
BIS buys GBP/USD...
  • #269,165
  • Jan 20, 2011 2:28am Jan 20, 2011 2:28am
G/M,

The pullpack from Tuesday's 6059 Hi failed to find more upside yesxterday and 3 x tests of 6036 in an attempt to do so saw a further fall to the 23.6% 5405-6059 (not shown below) with 4hr ascending trend line (currenjt daily lo,) where some demand has been found in early London/late asian session trading....now challenging the previous 1hr swing lo zone (previous support)

Current 1hr near-term screenshot shown below.

G/L
Attached Image (click to enlarge)
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ex member
  • #269,166
  • Jan 20, 2011 2:36am Jan 20, 2011 2:36am
Daily shows that 23.6% fib referred to in above post and top of that previous daily/weekly swing hi zone (previous resistance.) Current daily lo here.

G/L
Attached Image
ex member
  • #269,167
  • Jan 20, 2011 2:36am Jan 20, 2011 2:36am
Quoting bbmac
G/M,

The pullpack from Tuesday's 6059 Hi failed to find more upside yesxterday and 3 x tests of 6036 in an attempt to do so saw a further fall to the 23.6% 5405-6059 (not shown below) with 4hr ascending trend line (currenjt daily lo,) where some demand has been found in early London/late asian session trading....now challenging the previous 1hr swing lo zone (previous support)

Current 1hr near-term screenshot shown below.

G/L

its the revenge of yesterday movement
Verily, in every difficulties there is relief
  • #269,168
  • Jan 20, 2011 2:38am Jan 20, 2011 2:38am
Quoting primzvicious
taking counter long here... sl @ 1.5900
closed half for +55, rest sl @ BE
Verily, in every difficulties there is relief
  • #269,169
  • Jan 20, 2011 2:41am Jan 20, 2011 2:41am
gu scarriest currenci of the week.

one rocket after the other....
Hero calls followed by margin calls...
  • #269,170
  • Jan 20, 2011 2:49am Jan 20, 2011 2:49am
Nice bullish divergence plays at current daily lo 5907 on 15min and 30min. The 4hr ascending trend line is below...1hr more difficult to plot an ascen ding trend line as so many swing lows to do so.

G/L
Attached Image (click to enlarge)
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ex member
  • #269,171
  • Jan 20, 2011 2:51am Jan 20, 2011 2:51am
30min bullish div play at current daily lo is shown here:

G/L
Attached Image (click to enlarge)
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ex member
  • #269,172
  • Jan 20, 2011 2:57am Jan 20, 2011 2:57am
Quoting bbmac
30min bullish div play at current daily lo is shown here:

G/L
Quoting bbmac
Nice bullish divergence plays at current daily lo 5907 on 15min and 30min. The 4hr ascending trend line is below...1hr more difficult to plot an ascen ding trend line as so many swing lows to do so.

G/L
lol man u explained a reasoning for my entry and exit
Verily, in every difficulties there is relief
  • #269,173
  • Jan 20, 2011 3:00am Jan 20, 2011 3:00am
Quoting primzvicious
lol man u explained a reasoning for my entry and exit
great entry well done !

G/L
ex member
  • #269,174
  • Jan 20, 2011 3:06am Jan 20, 2011 3:06am
1hr closes as a prefect bullish thrust candle above the last LH on that t/f... 76.4% of a-b is the current pullback hi. off 5907 lo - the current daily lo.

Are bulls regaining control ?

G/L
Attached Image
ex member
  • #269,175
  • Jan 20, 2011 3:09am Jan 20, 2011 3:09am
Do check out the weekly chart.

Right shoulder is forming ~5970, if the formation is complete with a reversal candle end of this week, I am looking to sell this pattern.

Or if it goes to 1.60-1.602, I might take a punter's gamble to sell.
  • #269,176
  • Jan 20, 2011 3:18am Jan 20, 2011 3:18am
Quoting perrier
Do check out the weekly chart.

Right shoulder is forming ~5970, if the formation is complete with a reversal candle end of this week, I am looking to sell this pattern.

Or if it goes to 1.60-1.602, I might take a punter's gamble to sell.

The 'general' H&S pattern may be there, but it isn't fractally perfect with intermediate swings in the pattern marked by the circles. I have noted that the fractally perfect patterns are higher in probability than the 'general 'ones.

G/L with it.
Attached Image
ex member
  • #269,177
  • Jan 20, 2011 3:19am Jan 20, 2011 3:19am
seems like we have a new m5 rangebox.

awaiting BO
Hero calls followed by margin calls...
  • #269,178
  • Jan 20, 2011 3:21am Jan 20, 2011 3:21am
probability .........
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one secret in the forex. im belive.
  • #269,179
  • Jan 20, 2011 3:26am Jan 20, 2011 3:26am
Quoting PhAnTi'
lol.

How are your shorts coming along?




.
Mind over matter..I don't mind and you don't matter.
  • #269,180
  • Jan 20, 2011 3:27am Jan 20, 2011 3:27am
Quoting PoundTrader
lets see if this uptrend holds, been holding long since 1.5446
as i posted before i got out at 1.6043, now im short at 1.6029 don't have a T/P yet as you can see from my chart we could be in for a long downfall, good luck to all
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