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Cable Update (GBPUSD)

  • #271,241
  • Feb 8, 2011 9:43am Feb 8, 2011 9:43am
Quoting primzvicious
planning to close 3/4 @ 070
lol hit as i posted
Verily, in every difficulties there is relief
  • #271,242
  • Feb 8, 2011 9:49am Feb 8, 2011 9:49am
Quoting Sunsi
Strong downmove today.

I see alot of you guys still are short.
Isen`t this a zone that typical would give a retracement of around 50 pips? Because of profittaking, and resistance.
Looks like it, 1.6095 for 50% retrace maybe ?
Don't be a hero. Don't have an ego. Always question yourself
  • #271,243
  • Feb 8, 2011 9:51am Feb 8, 2011 9:51am
Quoting redbeben
there is a ''bull-back''(sounds better) now but I doubt it will make you feel more confident
we have as well a 5 days low at 1.6033 as a bear net

even if it goes to your TP it cannot go today I'm afraid.
too much time and pips spent so far...maybe with a little help from the BOE
Quoting digger1
eerr umm, sorry wormy had to join the shorts so I didnt lose my shorts lol, held for this second crack at S2 but may have to get a few longs here and see wht they do the rest of the day
covered one more counter
still down about $100. leaving my original longs from frankie open. gonna have sharkfin soup at asia
Thank You
  • #271,244
  • Feb 8, 2011 9:51am Feb 8, 2011 9:51am
Quoting USD-Bear
Looks like it, 1.6095 for 50% retrace maybe ?
might be...

closed all order now...
Verily, in every difficulties there is relief
  • #271,245
  • Feb 8, 2011 9:54am Feb 8, 2011 9:54am
Quoting primzvicious
might be...

closed all order now...
still holding it, resistance on USDX again @ 77.80:

M15:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0034.png Size: 33 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #271,246
  • Feb 8, 2011 9:58am Feb 8, 2011 9:58am
Quoting USD-Bear
still holding it, resistance on USDX again @ 77.80:

M15:
Attachment
watchout this area...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 21 KB
Verily, in every difficulties there is relief
  • #271,247
  • Feb 8, 2011 10:00am Feb 8, 2011 10:00am
Quoting primzvicious
watchout this area...
it's gonna cut thru everyfing. i got shark's tail already. we fly now
Thank You
  • #271,248
  • Feb 8, 2011 10:03am Feb 8, 2011 10:03am
Quoting USD-Bear
Looks like it, 1.6095 for 50% retrace maybe ?
Jupp. Think it will have a hard time go higher.. USDx is at resistance as you said!
  • #271,249
  • Feb 8, 2011 10:03am Feb 8, 2011 10:03am
Quoting wormboy
it's gonna cut thru everyfing. i got shark's tail already. we fly now
dang...

i closed them all already

but no worries... i got green all the way..
Verily, in every difficulties there is relief
  • #271,250
  • Feb 8, 2011 10:05am Feb 8, 2011 10:05am
Hi Guys

I haven't contributed to this thread at all but I plan to start to as cable and euro are the only currency pairs I'm trading nowadays.

Big power pivot off the 288ema on the hourly for cable now:

http://i1137.photobucket.com/albums/...ess/gbpusd.jpg

Cable has been repspecting the 288 on the hourly as of late. A PP of this size should have sufficient legs to get price back up to 1.6130. After that I really don't know which way it's going to go?!

Cheers
Mark
  • #271,251
  • Feb 8, 2011 10:08am Feb 8, 2011 10:08am
Quoting primzvicious
dang...

i closed them all already

but no worries... i got green all the way..
nice buddy
i'm gonna fly too now, tiring day. bloody sharks made me sweat.
see ya tomorrow
Thank You
  • #271,252
  • Feb 8, 2011 10:13am Feb 8, 2011 10:13am
Quoting wormboy
nice buddy
i'm gonna fly too now, tiring day. bloody sharks made me sweat.
see ya tomorrow
Verily, in every difficulties there is relief
  • #271,253
  • Feb 8, 2011 10:41am Feb 8, 2011 10:41am
Quoting wormboy
it's gonna cut thru everyfing. i got shark's tail already. we fly now
Bear-play imho not over yet
Wouldn't touch longs below DPP @ 1.613

Attached Image (click to enlarge)
Click to Enlarge Name: Picture0035.png Size: 33 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #271,254
  • Feb 8, 2011 10:50am Feb 8, 2011 10:50am
Quoting Schoey
Can I ask what indicators these are you use?

Thanks in advance!
All are EMA's (exponential moving averages). I
manually enter once and save to a template in
my platform. I happen to like the IBFX charts
over other available broker's charts with a black
background and lime candles and I 'zoom out' to
eliminate the distraction of candle bodies and wicks.

All are exponential with an applied 'close'. I prefer
various colors to help with the visual patterns.
I use several monitors but all can be loaded to one
chart from the template and either changed between tfs,
or put multiple tf charts in reduced size on one screen.

6 red
18 white
36 blue
54 yellow
72 magenta
90 lime
108 orange red
126 papaya whip
144 aqua

Sometimes I'll throw in the 200 EMA - (dotted
aqua) used only as a respected reference S/R
and not part of the compresssion pattern.

Let me know if you find them useful.

Dr. D.
  • #271,255
  • Feb 8, 2011 10:53am Feb 8, 2011 10:53am
Quoting kaspopsicle
Dx pushing for 7808 on H1.
Next level 7018 = DP
Expect resistance here. As with support on cable at 16040.
As Bull Bear has already mentioned.
Sorry..what a bad. Meant to say USD Bear. Apologies Bear. i do know the difference.
All systems of divination, like music itself,work through patterns.
  • #271,256
  • Feb 8, 2011 10:57am Feb 8, 2011 10:57am
Quoting kaspopsicle
Sorry..what a bad. Meant to say USD Bear. Apologies Bear. i do know the difference.
np kas, indeed I was thinking we know a Bull Bear but couldn't find the reference
Don't be a hero. Don't have an ego. Always question yourself
  • #271,257
  • Feb 8, 2011 11:11am Feb 8, 2011 11:11am
Quoting amarfx
Potential zone to go long on GBPUSD in place or long above 1.6068

you all bears were forewarned
  • #271,258
  • Feb 8, 2011 11:13am Feb 8, 2011 11:13am
This pull back on the 5M could be a good retracement
and bounce or pause here for a while to reform another
c.pattern. If the 1M reforms earlier it could give this
the energy to push back down to continue this 30M
move that's already underway whose EMAs are separating.
Always harder to slow a moving train (larger tfs) as the
momentum could be building in the 30M. This downward
direction would also cause the 1H to close and form. This
phenomenon is continually happening on all tfs at the relative
pace and strength of each. Lending and or drawing energy
from every move and with every tf.

Just my view.

Dr. D.
Attached Images
  • #271,259
  • Feb 8, 2011 11:15am Feb 8, 2011 11:15am
Quoting USD-Bear
np kas, indeed I was thinking we know a Bull Bear but couldn't find the reference
there was one , funny sort of bloke not been around in a while ...cant say i miss him. Always good to see you.
All systems of divination, like music itself,work through patterns.
  • #271,260
  • Feb 8, 2011 11:16am Feb 8, 2011 11:16am
Quoting amarfx
you all bears were forewarned
Let's see some charts so we can decide ourself?
Don't be a hero. Don't have an ego. Always question yourself
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