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Cable Update (GBPUSD)

  • #285,021
  • Jul 26, 2011 7:07am Jul 26, 2011 7:07am
When I look at my daily, can't help myself but see the 6420-25 area as an important intra-day break point.
Perhaps a good area to short? We'll see, I'm trying a small NY long on m5.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cable26073.gif Size: 20 KB
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  • #285,022
  • Jul 26, 2011 7:09am Jul 26, 2011 7:09am
Quoting stulic
When I look at my daily, can't help myself but see the 6420-25 area as an important intra-day break point.
Perhaps a good area to short? We'll see, I'm trying a small NY long on m5.
Same view here, that why I still keep my short @6380, let's c
  • #285,023
  • Jul 26, 2011 7:13am Jul 26, 2011 7:13am
Quoting Hoang Long
Same view here, that why I still keep my short @6380, let's c
You do know break-points are called that because they get broken sometimes

In that case I see 6500 open for grabs.
Don't get mad, get even!
  • #285,024
  • Jul 26, 2011 7:39am Jul 26, 2011 7:39am
Quoting Hoang Long
Same view here, that why I still keep my short @6380, let's c
Closed all @6420, just enough to make up for the loss yesterday.

No more order, wait for New Home Sales data released, let's c what we have
  • #285,025
  • Jul 26, 2011 7:48am Jul 26, 2011 7:48am
Quoting Hoang Long
Closed all @6420, just enough to make up for the loss yesterday.
You closed a 6380 short at 6420? To make up for a loss?

Something's not right there.
Don't get mad, get even!
  • #285,026
  • Jul 26, 2011 7:52am Jul 26, 2011 7:52am
Quoting stulic
You closed a 6380 short at 6420? To make up for a loss?

Something's not right there.
No, I mean I lose yesterday, 4 lose trades on a row and that's terrible, I guess I will never trade at Monday again, sorry if my words make you misunderstanding

Today I open 3 orders @6380 and closed @6420, make up for the loss yesterday. For now will wait for New Home Sales actual data released
  • #285,027
  • Jul 26, 2011 7:54am Jul 26, 2011 7:54am
Quoting Hoang Long
No, I mean I lose yesterday, 4 lose trades on a row and that's terrible, I guess I will never trade at Monday again, sorry if my words make you misunderstanding

Today I open 3 orders @6380 and closed @6420, make up for the loss yesterday. For now will wait for New Home Sales actual data released
So it was a long order @6380, not short as you said. Big difference between those two
Don't get mad, get even!
  • #285,028
  • Jul 26, 2011 7:58am Jul 26, 2011 7:58am
Quoting stulic
So it was a long order @6380, not short as you said. Big difference between those two
Oh, that's right. And I did not even notice it, add it to my dictionary then
  • #285,029
  • Edited 8:17am Jul 26, 2011 8:05am | Edited 8:17am
Ok waves up , extra movements in gu due not aligned with eu before & now also top still not clear for the retracement eu already in .next correction limit 6314. usdx still not confirmed the retracement yet but may do soon .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 10 KB
Click to Enlarge Name: eu1.gif Size: 9 KB
Click to Enlarge Name: gu2.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #285,030
  • Jul 26, 2011 8:14am Jul 26, 2011 8:14am
Quoting fontu
Ok waves up , extra movements in gu due not aligned with eu before & now also top still not clear for the retracement eu already in .next correction limit 6314.
fontu
is other reason there for this Gu drop at this point to 6314?
Please explain.
  • #285,031
  • Jul 26, 2011 8:41am Jul 26, 2011 8:41am
Quoting stulic
When I look at my daily, can't help myself but see the 6420-25 area as an important intra-day break point.
Perhaps a good area to short?.
Spot on

I sold it - not the number but a clear 'supply touch' PA on M1 got me in... closed part at the channel TL, rest running with be..

decided whether to close at this point & buy, maybe a wrong decision but don't want to buy into resistance.. time will tell and news will help perhaps. anyways, done for today.

Lower supply consumed by previous moves, now @M1 chart: exhaustion, the dojis (the PA is very slow, almost frozen).. and no-lookback reversal.
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  • #285,032
  • Jul 26, 2011 8:44am Jul 26, 2011 8:44am
Quoting Anpips
is other reason there for this Gu drop at this point to 6314?
Please explain.
shorting both eu or gu as in the most unreliable correction only to me subject to change any moment & so carefull , only safe scalping ok . anyway take care . limit comes from wave correction limit elliot wave non overlapping I used to use , only limit not neccessarily it to hit but breaks invalidate the wave thought previously .thanks ,
fontu

usdx update , just it hit the 2nd confirmation lavel 73.73 any breach will confirm more correction , any .
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #285,033
  • Jul 26, 2011 9:06am Jul 26, 2011 9:06am
what next after the news South or North.
Keep the Lights on then you can catch the rise from the dark.
  • #285,034
  • Jul 26, 2011 9:10am Jul 26, 2011 9:10am
Quoting ricmaj
what next after the news South or North.
Bad news but there did not have much change, the market seem like did not react at all
  • #285,035
  • Jul 26, 2011 9:50am Jul 26, 2011 9:50am
Quoting MaryJane
Spot on

I sold it - not the number but a clear 'supply touch' PA on M1 got me in... closed part at the channel TL, rest running with be..

decided whether to close at this point & buy, maybe a wrong decision but don't want to buy into resistance.. time will tell and news will help perhaps. anyways, done for today.

Lower supply consumed by previous moves, now @M1 chart: exhaustion, the dojis (the PA is very slow, almost frozen).. and no-lookback reversal.
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  • #285,036
  • Jul 26, 2011 9:53am Jul 26, 2011 9:53am
imho will be a number to look at in next trading sessions
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 27 KB
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  • #285,037
  • Edited 11:39am Jul 26, 2011 10:42am | Edited 11:39am

The best trading tip I can give you and which helped me to survive > 25 years of trading is as follows: “Never use more than 2% equity risk when I place stops.” For example, if I have 4 positions and all stopped out, I will lose max. 2% of clients account. So the stop level is important and so the number of contracts .If there is high volatility and a high daily range, than my number of contracts are smaller. If there is low volatility and smaller daily ranges, than my number of contracts are bigger. At any time, being stopped out in all positions, I will lose max. 2% on equity.

  • #285,038
  • Jul 26, 2011 10:52am Jul 26, 2011 10:52am
Just back at desk to update charts after own session ended some hours ago...Price runs up to Weekly R1 pivot (@/around 6420) which is in that previous 4hr/daily swing hi zone leading up to 6442 creating it's own fractal swing hi on 1hr now ass price drops from there, so far to the 50% of the 6321-6421 (current daily hi) move where some demand has been enountered.

Above here :

6452-71 previous 4hr/daily swing hi zone
6480-96 previous 4hr swing hi zone
6520-46 previous 4hr/daily swing hi zone inc 76.4% 6746-5779 @ 6516 @ Weekly R2 @/around 6546
------------------------------------------------

G/L
ex member
  • #285,039
  • Jul 26, 2011 11:28am Jul 26, 2011 11:28am
with usdx sudden tanking the retracement halt so early but seems not over yet & waiting some play down or at least bottom again before leave the station .still a short here to take care .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 11 KB
Click to Enlarge Name: eu1.gif Size: 9 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #285,040
  • Jul 26, 2011 2:20pm Jul 26, 2011 2:20pm
i picked 1/3 short position 6420

1/3 coz possible move more up
lets see

any other?
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