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Cable Update (GBPUSD)

  • #269,381
  • Jan 20, 2011 5:10pm Jan 20, 2011 5:10pm
Waiting for the asian session to figure out what they want to do for the day. Recently they have been significantly moving things around and I want to be prepared. We are in a really tight range right now for the last couple hours.

I read somewhere that there are a bunch of asian bids at certain points (dont remember where).

On another note, is the Bears and Bulls indicator useful? Right now as far as I can rell, the bulls out number the bears by quite a bit on the 5m, 15m and 1h.

The PA has bounced a few times off the 15895 level a few times in the last 4 hours. With a new high and a lower high. Trying to figure out how to read this.
  • #269,382
  • Jan 20, 2011 5:15pm Jan 20, 2011 5:15pm
damn, has the downturn already started?
I had short orders at 61...
anyone also reckon this is the start of a downtrend to 42ish?
I'm getting these numbers looking at the monthly chart and the triangle it's forming...
  • #269,383
  • Jan 20, 2011 5:18pm Jan 20, 2011 5:18pm
Quoting Turveyd
No disagreeing with someone is inferring there wrong and stupid and therefore a personal attack which must be instantly responded to with childish behavior.
(
Agreed, you've described clearly the entire human race's mindset in a single paragraph.

On another note, cable seems to be in no man's land...

However, positioning data suggests that stops are appropriated' to the upside which is where I lurk waiting.

Short orders pending @ 1.6244 2 Lots
  • #269,384
  • Jan 20, 2011 5:20pm Jan 20, 2011 5:20pm
Hi there,
Sorry for the last couples of days i had a bad technical problem with my PC.

lets see where we will go at the end of this week...
http://4.bp.blogspot.com/_eJeoUej2Uk...2011-Table.png

http://2.bp.blogspot.com/_eJeoUej2Uk...21-01-2011.png
  • #269,385
  • Jan 20, 2011 5:20pm Jan 20, 2011 5:20pm
Quoting Warwick
Agreed, you've described clearly the entire human race's mindset in a single paragraph.

On another note, cable seems to be in no man's land...

However, positioning data suggests that stops are appropriated' to the upside which is where I lurk waiting.

Short orders pending @ 1.6244 2 Lots
May I ask why you are going short at that point?
  • #269,386
  • Jan 20, 2011 6:06pm Jan 20, 2011 6:06pm
Quoting chazzle
15925 is the fity!
Good morning Mr.Chaz,

YESSS..!!

I did put sell limit order @5920 5 hr ago just before I logged out and HIT.
oo how I love it when cable back to the fity..
I just found out this mostly happen on down trend.

Good luck for us, my friend

Regards.
Attached Image (click to enlarge)
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  • #269,387
  • Jan 20, 2011 6:08pm Jan 20, 2011 6:08pm
Quoting Warwick
Agreed, you've described clearly the entire human race's mindset in a single paragraph.

On another note, cable seems to be in no man's land...

However, positioning data suggests that stops are appropriated' to the upside which is where I lurk waiting.

Short orders pending @ 1.6244 2 Lots
I agree with Exs. If it gets to that price, we will be in a definate uptrend, thus you will be sitting on many bad trades if it triggers. Those that have seen me preaching in here over the past month or so, know I do have a short bias, but really when price breaks 5350. Shorter term scalps can be made in the short direction and I am holding one from the 600 daily ema amount. The price of 6244 is above the downward sloping channel, so please explain your logic if you will.

A chart would be good as well.
Attached Image (click to enlarge)
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  • #269,388
  • Jan 20, 2011 6:14pm Jan 20, 2011 6:14pm
Quoting wormboy
Don't worry about pa, if you have a sell signal or buy signal, just react. Anyway historically, it is very rare that cable rallies for nearly 2 weeks without correcting. The last this happened was back on the 22nd July 2010. Guess what happened after. And we are above all, below a major resistance level.
Be patient.
Lovely.
Did we catch the turn & sold from the top of the mountain? We'll know in a week. Leaving the remaining trade to work. Have a lovely weekend everyone.
Ta!
Thank You
  • #269,389
  • Jan 20, 2011 6:19pm Jan 20, 2011 6:19pm
Quoting gsantri
Good morning Mr.Chaz,

YESSS..!!

I did put sell limit order @5920 5 hr ago just before I logged out and HIT.
oo how I love it when cable back to the fity..
I just found out this mostly happen on down trend.

Good luck for us, my friend

Regards.
guess where the fity & the daily pivot is at ...


Quoting wormboy
that's it
H1 descending triple top. 5913 is the trapdoor. Let's see ...
like clockwork

have a good one
Thank You
  • #269,390
  • Jan 20, 2011 6:22pm Jan 20, 2011 6:22pm
Hey Guyz , Just wanted to share this with you , I hope it's for the benefit of all , I found this rounding bottom Pattern in the Cable and it really is interesting , Coz the A/D indiciator shows that we're about to go to a " CONFIRMED " Bullish zone if we break this week's high so , check and let me know if you have any questions. as for the short term look for the break of an of the 2 trend lines on the A/D indicator ONLY , not the price . Have a nice day all.
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Attached Image
  • #269,391
  • Jan 20, 2011 6:42pm Jan 20, 2011 6:42pm
Quoting wormboy
guess where the fity & the daily pivot is at ...

like clockwork

have a good one
So true, Wise Man.
It's a good RR for me. Thanks
  • #269,392
  • Jan 20, 2011 6:42pm Jan 20, 2011 6:42pm
Quoting Warwick
. . .
Short orders pending @ 1.6244 2 Lots
Excellent bro (1.626x) but there could also exist a buy limit at 1.550x. I think what we are seeing presently is bullish sentiment. Housing starts in the UK was higher than expected and so also was CPI. These two reports are 'leading fundamental indicators (IMO)' for retail sales. Traders are trying to 'price in' the news report before it comes. I expect 1.606x/1.568x as OB/OS level for today. Happy trading!
  • #269,393
  • Jan 20, 2011 6:56pm Jan 20, 2011 6:56pm
my view...
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Verily, in every difficulties there is relief
  • #269,394
  • Jan 20, 2011 7:04pm Jan 20, 2011 7:04pm
Quoting chazzle
couldn't wait for the fity so short 15907
well i bailed out of this for -5 because I started looking at price too much!Don't feel like sleeping on it without stop @ BE - see y'all tomorrow
  • #269,395
  • Jan 20, 2011 7:07pm Jan 20, 2011 7:07pm
Quoting PoundTrader
long is back in play, im going long, good luck to all
im back in long at 1.5857, t/p at 1.6114.
  • #269,396
  • Jan 20, 2011 7:16pm Jan 20, 2011 7:16pm
Quoting PoundTrader
im back in long at 1.5857, t/p at 1.6114.
4hr candle has closed below the descending channel and it is a bearish signal. So, I will keep my short active to target 5550.

The corrective rally may be short lived capped by 5910
  • #269,397
  • Jan 20, 2011 7:28pm Jan 20, 2011 7:28pm
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  • #269,398
  • Jan 20, 2011 7:40pm Jan 20, 2011 7:40pm
Quoting TauTrader
If there is one thing you must learn, is to be patient. All you need is 20 pips per day.
Good point TT

20 pips a day is a business and that's a fact - takes a while to learn not to chase price , but the quicker you do learn the quicker you stop losing money
  • #269,399
  • Jan 20, 2011 7:41pm Jan 20, 2011 7:41pm
Quoting veer2010
4hr candle has closed below the descending channel and it is a bearish signal. So, I will keep my short active to target 5550.

The corrective rally may be short lived capped by 5910
i wish all well, happy trading and more pips to you
  • #269,400
  • Jan 20, 2011 7:55pm Jan 20, 2011 7:55pm
Quoting PoundTrader
i wish all well, happy trading and more pips to you
green pips to you too buddy...
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