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Cable Update (GBPUSD)

  • #270,221
  • Jan 27, 2011 11:07am Jan 27, 2011 11:07am
Went short at 1.5909 with 20 pips SL and I'm stuck!
  • #270,222
  • Jan 27, 2011 11:20am Jan 27, 2011 11:20am
Quoting chazzle
stopped out of this ... but back in 15935 - fighting for the position - 78% fib of GDP move , WP and DTL not breached ....
...obviously not fighting hard enough...all those points breached but no H4 close above and my stop at 15975... watch the bitch go back down to 15750 and more
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  • #270,223
  • Jan 27, 2011 1:03pm Jan 27, 2011 1:03pm
Quoting wormboy
nice neckline break of that little H&S.
Close below the tl, we're likely test 878.
Hope you guys got in on this.
funny but i traded it to the upper trendline descending channel on the 4HR which ended at about 5989 took 70 pips the reentered when it bounced off the line and managed to get in at 5973. i am still in the trade and intend to move stop to BE if asian session doesnt by any chance trade it back up to hit stop loss and make my target 5750 close to bottom channel line.

am actually a newbie and still dunno how to post charts or i would have shown what the descending channel line on 4hr. pls could someone guide me on how to do that and even put arrows on them to shown key points etc.

thanks all. am really learning some guiding principles from this forum. the one thing i need to also learn is disciplne!
  • #270,224
  • Jan 27, 2011 1:10pm Jan 27, 2011 1:10pm
Quoting fr600
Went short at 1.5909 with 20 pips SL and I'm stuck!
all is not yet lost. u might need to increase ur stop a bit behind 5950 to accomodate the noise from asian session and hopefully the decline will continue @LO to head towrds the bottom channel line on 4hr.

GL
  • #270,225
  • Jan 27, 2011 1:34pm Jan 27, 2011 1:34pm
Quoting lechidi
all is not yet lost. u might need to increase ur stop a bit behind 5950 to accomodate the noise from asian session and hopefully the decline will continue @LO to head towrds the bottom channel line on 4hr.

GL
Thanks, I closed short at BE and went long at the same price for a quick scalp. Currently at +16, I moved SL to BE and hoping to get another 15-20 pips before I close it. Or else, I'll end up with nothing. Either way, it's good enough.
  • #270,226
  • Jan 27, 2011 2:52pm Jan 27, 2011 2:52pm
It looks like the same pattern we had the other day going sideways , is this any indication its still Bullish, or am I reading this wrong ! Any input would be greatly appreciated !
  • #270,227
  • Jan 27, 2011 4:26pm Jan 27, 2011 4:26pm
Quoting fr600
Thanks, I closed short at BE and went long at the same price for a quick scalp. Currently at +16, I moved SL to BE and hoping to get another 15-20 pips before I close it. Or else, I'll end up with nothing. Either way, it's good enough.
Closed at 1.5936 for around 27 pips and I'm done for now.
  • #270,228
  • Jan 27, 2011 5:20pm Jan 27, 2011 5:20pm
looking to t/p at 1.5809, short are in play, good luck to all
  • #270,229
  • Jan 27, 2011 6:15pm Jan 27, 2011 6:15pm
Watching the release of the 5M and how it might affect
the 1H. A sustained release downward will keep the 1H
in its compression formation and cause the 15M and 30M
to continue in their gathering for a more coordinated event.

Dr. D.
Attached Images
  • #270,230
  • Jan 27, 2011 6:53pm Jan 27, 2011 6:53pm
Quoting fourxtrader
Watching the release of the 5M and how it might affect
the 1H. A sustained release downward will keep the 1H
in its compression formation and cause the 15M and 30M
to continue in their gathering for a more coordinated event.

Dr. D.
Well doc, here you go nice pattern coupled with the failure of the rollover price, made for a nice little trade. cheers
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  • #270,231
  • Jan 27, 2011 7:50pm Jan 27, 2011 7:50pm
Quoting wormboy
nice neckline break of that little H&S.
Close below the tl, we're likely test 878.
Hope you guys got in on this.
well that took forever .... but done, 878 tested. flat again.
Thank You
  • #270,232
  • Jan 27, 2011 8:15pm Jan 27, 2011 8:15pm
[ oQUOTE=wormboy;4351356]well that took forever .... but done, 878 tested. flat again.[/quote]


Yeah but overall still inside bar from the other day. Movement probably waiting for gdp to near.
  • #270,233
  • Jan 27, 2011 8:16pm Jan 27, 2011 8:16pm
Quoting digger1
Well doc, here you go nice pattern coupled with the failure of the rollover price, made for a nice little trade. cheers Attachment
and don't forget about last night bearish divergent plus engulfing candle...,that short mode is so clear,the question is why???
it's make me little confuse to trade, maybe it's just a trap who knows..
I will be the number one Manager.
  • #270,234
  • Jan 27, 2011 8:32pm Jan 27, 2011 8:32pm
Quoting Ctic


Yeah but overall still inside bar from the other day. Movement probably waiting for gdp to near.
doesn't matter. I happily took my money already
Thank You
  • #270,235
  • Jan 27, 2011 9:09pm Jan 27, 2011 9:09pm
Quoting digger1
Well doc, here you go nice pattern coupled with the failure of the rollover price, made for a nice little trade. cheers Attachment
Hey dude, quit messing with my charts. lol

But I'm glad you said 1H sHs first**, cuz the last time I suggested
such a thing I was taken to the cleaners with a 'dirty neckline'.

That 1H sHs is defiinitely looking good.

So now here we are and the 5M c.pattern has expanded into a nice
move for ~40 pips. If it should settle in this area it would favor the
15M, 30M and 1H while they go into sync for bigger potential moves
well worth the wait.

**Wormie caught another sHs hours earlier on the 5M.

Dr. D.
Attached Images
  • #270,236
  • Jan 27, 2011 9:20pm Jan 27, 2011 9:20pm
Quoting gsantri
Well, nice chart and good explanation since I do not know much about candles and chart patterns, delivered with subtle touch of a lady. Is that your picture?

Thank You and welcome to the best cable thread.
No more asylum I hope lol..

Regards
gsantri hi..



yes thats my real pic...

thanks.. Asylum? oh no...LoL
  • #270,237
  • Jan 27, 2011 9:57pm Jan 27, 2011 9:57pm
Quoting wormboy
doesn't matter. I happily took my money already
Yeah, I am holding out for the lower areas. I feel we (eventually) should make a way down towards the 5350 area and I beleive we will break too. I have small positions riding atm with a large OCO waiting below the 5350 area.
  • #270,238
  • Jan 27, 2011 10:02pm Jan 27, 2011 10:02pm
I'm waiting for price to drop below 1.5878

Price has hit this level a few times and bounced back up.

Hopefully we should see this happen soon.
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  • #270,239
  • Jan 27, 2011 10:05pm Jan 27, 2011 10:05pm
Quoting fuse
I'm waiting for price to drop below 1.5878

Price has hit this level a few times and bounced back up.

Hopefully we should see this happen soon.
Really, we have bee going sideways in this channel from 1.6 to 1.5350 for about 6 months now so you can really say that about any of the price levels here.
  • #270,240
  • Jan 27, 2011 10:06pm Jan 27, 2011 10:06pm
Quoting smilemiz
gsantri hi..



yes thats my real pic...

thanks.. Asylum? oh no...LoL
hi miza....

wow the great miza now in gu thread also... welcome welcome ..........

how is your boyfriend upssssssss sorry your brother vincy ?

nice to see your chart here ..........
not euphoria follower
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