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Cable Update (GBPUSD)

  • #280,681
  • Jun 6, 2011 7:13am Jun 6, 2011 7:13am
cable h1 sounds flag.are you waiting for long
  • #280,682
  • Jun 6, 2011 7:14am Jun 6, 2011 7:14am
Quoting 0rPhioZ
I also want to go LONG, reason because I see one hammer candlestick from daily chart last NFP day (Correct me if I am wrong), but it's currently ranging with very slow movement and testing new lows several times so not safe to enter. I don't think this will be a reversal because we already see how it pierced from 6300 to 6400 breaking H4 channel. Time will tell us, but I doubt that it will be today due to banks holiday . Good luck for today, though .
#@%* I forgot about your bank holiday today, being an Aussie. being wedged in I really feel it can only stay still or go up.
Come with me if you want to live....
  • #280,683
  • Jun 6, 2011 7:17am Jun 6, 2011 7:17am
Quoting 0rPhioZ
I also want to go LONG, reason because I see one hammer candlestick from daily chart last NFP day (Correct me if I am wrong), but it's currently ranging with very slow movement and testing new lows several times so not safe to enter. I don't think this will be a reversal because we already see how it pierced from 6300 to 6400 breaking H4 channel. Time will tell us, but I doubt that it will be today due to banks holiday . Good luck for today, though .
yeah I got out at a profit, im not so sure now but im going to sit this one out until we stop going sideways; time to crack out the sell-stop
  • #280,684
  • Jun 6, 2011 7:22am Jun 6, 2011 7:22am
Quoting 0rPhioZ
I also want to go LONG, reason because I see one hammer candlestick from daily chart last NFP day (Correct me if I am wrong), but it's currently ranging with very slow movement and testing new lows several times so not safe to enter. I don't think this will be a reversal because we already see how it pierced from 6300 to 6400 breaking H4 channel. Time will tell us, but I doubt that it will be today due to banks holiday . Good luck for today, though .
yes, I noticed that bullish daily candle. Shorts are for scalpers or people who know more than me... That should be plenty.
Gone to a better place
  • #280,685
  • Jun 6, 2011 7:37am Jun 6, 2011 7:37am
long or short long or shor

I gues 1.638 will tell..... what is a good candle to confirm it holds? 1H ? H4?
  • #280,686
  • Jun 6, 2011 7:45am Jun 6, 2011 7:45am
Quoting sphinx8
long or short long or shor

I gues 1.638 will tell..... what is a good candle to confirm it holds? 1H ? H4?
i wasn't sure either but got a buy stop order at 1.64192 and a sell stop at 1.63706 - i'm not trading for that large a time span atm so should make the most of either break. 10 % up for the day so im happy enough to go get lunch
  • #280,687
  • Jun 6, 2011 7:45am Jun 6, 2011 7:45am
M15 Shows Bearish long..
  • #280,688
  • Jun 6, 2011 8:04am Jun 6, 2011 8:04am
If yesterdays close doesnt fit into todays trade you would watch a film of your mind set telling you to trade accordingly by just going long. Alot of area's that shouldnt be tested are undergoing test and bounce, trade what today has to offer 4 now, so you are not kept in shock (what happened)??

Now like i said earlier i wait for this test of daily pivot @ 1.6381, there definitely would be a rally here, possibly 1-1hr30mins, so enough time to see if we hit the roof or if change stalled todays movement. (undertermined circumstance)!!! BIGDOGS!! IN PLAY!!!. i still feel we go up if 1.6380 -1.6360 is not broken. My entry hasnt come any close, so why should i enter.... I wait for at least 1.6410 only if the rally below confirms my long.
  • #280,689
  • Jun 6, 2011 8:12am Jun 6, 2011 8:12am
Quoting fendi
If yesterdays close doesnt fit into todays trade you would watch a film of your mind set telling you to trade accordingly by just going long. Alot of area's that shouldnt be tested are undergoing test and bounce, trade what today has to offer 4 now, so you are not kept in shock (what happened)??

Now like i said earlier i wait for this test of daily pivot @ 1.6381, there definitely would be a rally here, possibly 1-1hr30mins, so enough time to see if we hit the roof or if change stalled todays movement. (undertermined circumstance)!!! BIGDOGS!!...
sounds good. well said even without any brainscience charts
took the risk and hoped on long already,..... as you said solid 1.641 will feel good
  • #280,690
  • Jun 6, 2011 8:19am Jun 6, 2011 8:19am
Quoting fendi
If yesterdays close doesnt fit into todays trade you would watch a film of your mind set telling you to trade accordingly by just going long. Alot of area's that shouldnt be tested are undergoing test and bounce, trade what today has to offer 4 now, so you are not kept in shock (what happened)??

Now like i said earlier i wait for this test of daily pivot @ 1.6381, there definitely would be a rally here, possibly 1-1hr30mins, so enough time to see if we hit the roof or if change stalled todays movement. (undertermined circumstance)!!! BIGDOGS!!...
So if it breaks 636, could it not continue down to 631? Im long after a 641 break but for the moment ive got a stop-sell in play.

What you rekon fendi? keep on my sell stop at 636 or not to bother & wait to see if we get a rally above 641?

Ive been making good profit waiting for the real price move but just cant see it happening that soon.
  • #280,691
  • Jun 6, 2011 8:45am Jun 6, 2011 8:45am
Wld prefer you look for good entry for long, if you are in short, better out, you could still steal some show, buti dont think its much more around the corner. All my charts seem ready for long, using ichi, price is certainly above cloud, but like i said just taking an entry b cos its long when i cant find a take off point makes no sense, today we had a new high, since then we have been having new lows, so until this bottow stops b4 i would take in a long position, otherwise you be careful so far with short, i have closed all my short any other level like i said is 1.6360 which can be breached.

Quoting Walker93
So if it breaks 636, could it not continue down to 631? Im long after a 641 break but for the moment ive got a stop-sell in play.

What you rekon fendi? keep on my sell stop at 636 or not to bother & wait to see if we get a rally above 641?

Ive been making good profit waiting for the real price move but just cant see it happening that soon.
Attached Image (click to enlarge)
Click to Enlarge Name: pivot 1.gif Size: 26 KB
  • #280,692
  • Jun 6, 2011 8:49am Jun 6, 2011 8:49am
Quoting Pkurdy
I think it's short opportunities and first target 16370.
Any body had shorted cable, good for him/her.
  • #280,693
  • Jun 6, 2011 8:57am Jun 6, 2011 8:57am
Now a confirmation Pivot has been breached, possibly now 1.6360... This is my view for bottom..... But 4hrs formation needs to also stop else, it might continue and we wait and watch all day. Why i use re-occuring patterns, it happens often, price moves in somewhat fashion most times, 19th may, i saw this 4hrs formation build up, and today we seem to have the same formation building, if we break 1.6350 i think we see 1.6300.. else we resume for the top
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pivot 1.gif Size: 24 KB
Click to Enlarge Name: 4hrs.gif Size: 22 KB
  • #280,694
  • Edited 9:10am Jun 6, 2011 9:00am | Edited 9:10am
Quoting Pkurdy
Any body had shorted cable, good for him/her.
Yeah i took a tidy profit on my short. I'm net-exposed long but I think its going to continue down for the next hour or two so il manage to close my remaining shorts & get long for the rally either later today or tomorrow.
  • #280,695
  • Jun 6, 2011 9:02am Jun 6, 2011 9:02am
M15, I see a doji closing at 6379. Does it mean anything ?
  • #280,696
  • Jun 6, 2011 9:16am Jun 6, 2011 9:16am
Quoting 0rPhioZ
M15, I see a doji closing at 6379. Does it mean anything ?
The doji you see means nothing about trend reversal. We are short till a reversal signal to proceed the big picture. Pivots are usually helpful.
  • #280,697
  • Jun 6, 2011 9:29am Jun 6, 2011 9:29am
wld b back in 2hrs to see if we stand a chance...... nothing 4 now
  • #280,698
  • Jun 6, 2011 10:07am Jun 6, 2011 10:07am
Quoting fendi
Now a confirmation Pivot has been breached, possibly now 1.6360... This is my view for bottom..... But 4hrs formation needs to also stop else, it might continue and we wait and watch all day. Why i use re-occuring patterns, it happens often, price moves in somewhat fashion most times, 19th may, i saw this 4hrs formation build up, and today we seem to have the same formation building, if we break 1.6350 i think we see 1.6300.. else we resume for the top
fendi i dont know what kind of results you get but how i see it is that not many of the large money-movers are using quite so many indis surely? i mean there are people behind the price moves - its psychology on mass. Like today ive grown my balance 15% and i use nothing like what you have on your charts?

perhaps thats just my noobish confusion. noob or not i love it when all the trades you put on go your way though

Any advice for a beginner on cable?
  • #280,699
  • Jun 6, 2011 10:09am Jun 6, 2011 10:09am
why is everywhere so silent, possibly someone can explain to me through there earlier chat if they saw this coming?? plz i need to know............ I need some explanation with charts plz.
  • #280,700
  • Jun 6, 2011 10:14am Jun 6, 2011 10:14am
Quoting fendi
why is everywhere so silent, possibly someone can explain to me through there earlier chat if they saw this coming?? plz i need to know............ I need some explanation with charts plz.
I see that London wanted to bring it down, that last attempt near London close speaks for itselt. I think New York will bring it up again, but I don't know how far it will go. Time will tell us...
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