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Cable Update (GBPUSD)

  • #273,221
  • Mar 1, 2011 8:34am Mar 1, 2011 8:34am
Quoting PoundTrader
look like the trend is gonna be down about 75 pips
it was a trick
  • #273,222
  • Mar 1, 2011 8:35am Mar 1, 2011 8:35am
Quoting vilas
Hi PT. How are things ? Am stuck in EUR - looking to come back - no clear pic for GBP - near Resistance but ......You think down ?
whats up
  • #273,223
  • Mar 1, 2011 8:38am Mar 1, 2011 8:38am
OK nice head and shoulders tipe pattern forming now on 15min at 1,63 lets see what PA says now.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
  • #273,224
  • Mar 1, 2011 8:58am Mar 1, 2011 8:58am
Quoting wormboy
aren't you forgetting something?

unless scalping, shorts are too risky imo.
way to risky
  • #273,225
  • Mar 1, 2011 9:00am Mar 1, 2011 9:00am
coffee, i was thinking of buying a place in SA, whats the best area
  • #273,226
  • Mar 1, 2011 9:06am Mar 1, 2011 9:06am
that is me shorting 6280 stop loss 6305
Attached Image
90% of traders use TA, indicators and prediction
  • #273,227
  • Mar 1, 2011 9:07am Mar 1, 2011 9:07am
Quoting _BBKing_
that is me shorting 6280 stop loss 6305
t/p
  • #273,228
  • Mar 1, 2011 9:08am Mar 1, 2011 9:08am
Jees look at eu hehe i hate that kind of moves.
  • #273,229
  • Mar 1, 2011 9:09am Mar 1, 2011 9:09am
And so do the markets... they can't maintain extended moves.
The 'gradient' is unsustainable so we have consolidation after breakouts.
Here we see the repeating nature of a gathering of EMAs after their
separation. The perfect time to wait and watch for another release
after the energy builds in compression.

Dr. D.
Attached Image
  • #273,230
  • Mar 1, 2011 9:09am Mar 1, 2011 9:09am
Quoting PoundTrader
t/p
t/p ???
90% of traders use TA, indicators and prediction
  • #273,231
  • Mar 1, 2011 9:11am Mar 1, 2011 9:11am
Quoting _BBKing_
t/p ???
what is your take profit
  • #273,232
  • Mar 1, 2011 9:12am Mar 1, 2011 9:12am
Quoting Orbital
Area certainly isnt pretty (my area) but its valid nonetheless, im favouring longs so i guess we will be at opposing ends
We shall see if that demand holds up
  • #273,233
  • Mar 1, 2011 9:14am Mar 1, 2011 9:14am
Watch out for G/U Next

Quoting CoffeeDrinke
Jees look at eu hehe i hate that kind of moves.
  • #273,234
  • Mar 1, 2011 9:14am Mar 1, 2011 9:14am
Quoting PoundTrader
what is your take profit
6254/55 sticky area
Hero calls followed by margin calls...
  • #273,235
  • Mar 1, 2011 9:14am Mar 1, 2011 9:14am
Quoting PoundTrader
way to risky
I don't think so... depends where you got the short from (1.6317 is a nice place to be short from). Already scaled some out and put to BE. Where is the risk in that
  • #273,236
  • Mar 1, 2011 9:15am Mar 1, 2011 9:15am
Quoting PoundTrader
what is your take profit
re entered with sell stop @6270

target 6190 but maybe will close manually if reach 6220
90% of traders use TA, indicators and prediction
  • #273,237
  • Mar 1, 2011 9:15am Mar 1, 2011 9:15am
Quoting fourxtrader
And so do the markets... they can't maintain extended moves.
The 'gradient' is unsustainable so we have consolidation after breakouts.
Here we see the repeating nature of a gathering of EMAs after their
separation. The perfect time to wait and watch for another release
after the energy builds in compression.

Dr. D.
Just as the 'gradient' or vacuum is an unstable condition, so also is the
compression pattern. Players in the market (as long as there are two)
will never exist compatibly on a fixed price. This is what happens per
TF when the buyers and sellers are in complete agreement and the
result is stagnation on activity and a compression pattern forms,
then chaotic volatility follows and a breakout inevitably ensues.

Here was the last breakout which also happened off of a 5M c-chart.

Dr. D.

http://www.forexfactory.com/attachme...1&d=1298951569
  • #273,238
  • Mar 1, 2011 9:20am Mar 1, 2011 9:20am
Quoting PoundTrader
coffee, i was thinking of buying a place in SA, whats the best area
SA is a beautiful country, i dont want to move this is my country, but if i was you i would rather then invest my money in Australia and buying a place there.
This is my opinion.

But if your looking for a 'safer' part then Western Cape generally is a better bet.

Goodluck.
  • #273,239
  • Mar 1, 2011 9:28am Mar 1, 2011 9:28am
there is always same question in my mind....

WHY PRICE GOES UP 20-3O PIPS TO 6310 THEN CRASH?

i have been kicked out 6305....
now i got bad entry 6270 hope it goes 6230 now
90% of traders use TA, indicators and prediction
  • #273,240
  • Mar 1, 2011 9:35am Mar 1, 2011 9:35am
Quoting _BBKing_
there is always same question in my mind....

WHY PRICE GOES UP 20-3O PIPS TO 6310 THEN CRASH?

i have been kicked out 6305....
now i got bad entry 6270 hope it goes 6230 now
It is called 'lack of liquidity' before a new release. All the smart players withdraw from the market prior to a major news release and enter again once the direction has been set. Therefore, price can bounce around prior to news releases. Unless you are already in a trade, you are advised not to enter prior to a news release. I have rules in place if I am already in a trade, whereby I either close the position if the price is close to entry or move the SL to BE if price is some distance from entry.

We are back at the messy demand area! Will it hold?
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