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Cable Update (GBPUSD)

  • #274,721
  • Mar 25, 2011 4:48am Mar 25, 2011 4:48am
Quoting chazzle
I was describing the other day a set-up involving double bottom of price , stochastics being oversold , while remaining in an up-trend - the set-up is occuring now , so I put my money where my mouth is and go with it - long 16075 - very near the TL now

aha this is what you were talking about

thanks for the charts

I will jump on long as well but just a bit lower as I mentioned in the previous post.I already have longs loaded at 1.6080 so no need to open now another one

I just open consecutive ones....on the negative and wait for them to be filled up

cheers
  • #274,722
  • Mar 25, 2011 4:53am Mar 25, 2011 4:53am
Quoting chazzle
I was describing the other day a set-up involving double bottom of price , stochastics being oversold , while remaining in an up-trend - the set-up is occuring now , so I put my money where my mouth is and go with it - long 16075 - very near the TL now

great chart..and absolutely bullish div on there as well but bro dont overlook usd..look at this chart..if this gain kiss uptrend goodbye,,this will fall quicker than the titanic
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  • #274,723
  • Mar 25, 2011 4:56am Mar 25, 2011 4:56am
so i shouldnt be concerned with the very small pinbar on the 10min, the doji currently formed on 30min, and current doji forming on hourly...nor the usual load of indicators pointing to a rise...
  • #274,724
  • Mar 25, 2011 5:07am Mar 25, 2011 5:07am
Quoting monkey@forex
so i shouldnt be concerned with the very small pinbar on the 10min, the doji currently formed on 30min, and current doji forming on hourly...nor the usual load of indicators pointing to a rise...
I was expecting a long as retrace to 1.6098 acc to ichi KS let's see how it will evolve from now on
  • #274,725
  • Mar 25, 2011 5:11am Mar 25, 2011 5:11am
Quoting mofu.Dnewbie
MASTER, all i do is take a long at the formation of 9,100,200 emas & 50sma on the weekly chart. from the weekly the p.a formation is bullish. them bigboys are just pushing the small boys of the merry go round so we dont share in their fun ride to the moon.


HA!! They thought they could push me off the joy ride. No way. MOON HERE WE COME.
C.O.B.R.A FX - MENACE TO MY BROKER!!
  • #274,726
  • Mar 25, 2011 5:14am Mar 25, 2011 5:14am
Quoting nAVIN2007
great chart..and absolutely bullish div on there as well but bro dont overlook usd..look at this chart..if this gain kiss uptrend goodbye,,this will fall quicker than the titanic
Thanks for pointing out the Inv. correlation here with USDCHF - here's what I see in terms of trend and S/R on H4 , price is still in it's downtrend since beginning of the year and will run into PA/TL resistance in the area marked - would take quite a lot to push through - wether we can survive the 16000 break on cable before this happens - I don't know (haven't studied the inverse correlation much - but will look into it now ) and yes Redbeben , this is what I was talking about ...
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  • #274,727
  • Mar 25, 2011 5:18am Mar 25, 2011 5:18am
If she cracks todays high at 140 convincingly i'll join you gents for the long up to 400.
  • #274,728
  • Mar 25, 2011 5:21am Mar 25, 2011 5:21am
Quoting Yamster
I think we are going to see a move back up to 1.62975 area.

Nice bounce off trend line lets see if it keeps moving
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"Qui audet adipiscitur"
  • #274,729
  • Mar 25, 2011 5:23am Mar 25, 2011 5:23am
so this 60pip reversal from the doji isnt really comforting my short that was targeting 1.6000
  • #274,730
  • Mar 25, 2011 5:23am Mar 25, 2011 5:23am
Yeah... I am bullish on the UK economy

Just scaled half of my position out and moved the rest to BE

Attached Image
  • #274,731
  • Mar 25, 2011 5:25am Mar 25, 2011 5:25am
Quoting chazzle
long 16075 - very near the TL now
Have taken profit on 1/2 the position at the MP 16120 SL moved to BE , now to attack WP and DP and targeting 16175 on the rest - where we had a bit of consolidation yesterday and just shy of the M15 200EMA
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  • #274,732
  • Mar 25, 2011 5:31am Mar 25, 2011 5:31am
Quoting chazzle
Thanks for pointing out the Inv. correlation here with USDCHF - here's what I see in terms of trend and S/R on H4 , price is still in it's downtrend since beginning of the year and will run into PA/TL resistance in the area marked - would take quite a lot to push through - wether we can survive the 16000 break on cable before this happens - I don't know (haven't studied the inverse correlation much - but will look into it now ) and yes Redbeben , this is what I was talking about ...

  • #274,733
  • Mar 25, 2011 5:36am Mar 25, 2011 5:36am
Also trying a scalp of this test of the M15 EMA20 long at 16102 - for the 2nd test of the MP - but with a much tighter stop - around 10
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  • #274,734
  • Mar 25, 2011 5:46am Mar 25, 2011 5:46am
Quoting chazzle
Also trying a scalp of this test of the M15 EMA20 long at 16102 - for the 2nd test of the MP - but with a much tighter stop - around 10
will take -4 on the scalp - see if the rest of the other trade works out - see ya'll in a bit
  • #274,735
  • Mar 25, 2011 6:28am Mar 25, 2011 6:28am
Bulls are just not coming to this party,maybe later.Weak hourly candle says we could be digging deeper before we turn.Lets see what the 4hr candle can produce PA wise.
  • #274,736
  • Mar 25, 2011 6:45am Mar 25, 2011 6:45am
Quoting pepper
Bulls are just not coming to this party,maybe later.Weak hourly candle says we could be digging deeper before we turn.Lets see what the 4hr candle can produce PA wise.
wise man.
the bulls are in the party already, they the menu

where GM bull bear wormie and the rest..
  • #274,737
  • Mar 25, 2011 6:57am Mar 25, 2011 6:57am
Quoting nAVIN2007
wise man.
the bulls are in the party already, they the menu

where GM bull bear wormie and the rest..
1.6060 will be the support。
A chart helps those who can read it.
  • #274,738
  • Mar 25, 2011 7:02am Mar 25, 2011 7:02am
Quoting nAVIN2007
wise man.
the bulls are in the party already, they the menu

where GM bull bear wormie and the rest..
Thanks nAV just no confirmation for any longs yet.
  • #274,739
  • Mar 25, 2011 7:09am Mar 25, 2011 7:09am
Quoting geniusztc
1.6060 will be the support。
I still stick to the 1.6045-50 level to be touched I am afraid

lower than this I cannot guarantee anything
  • #274,740
  • Mar 25, 2011 7:13am Mar 25, 2011 7:13am
Quoting pepper
Thanks nAV just no confirmation for any longs yet.

yup
its retraced to breakout area and the resistance does have some confluence, id be nervous with a log right here, but who know can bouce here as well

but short is more favourable my feels
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