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Cable Update (GBPUSD)

  • #286,081
  • Aug 10, 2011 8:26am Aug 10, 2011 8:26am
Quoting stulic
More like attention: Wall Street opening bell in 10, all European share markets reversed gains turned red, expect another bloodbath tonight.
close is enogh!!
see you tomorow...
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  • #286,082
  • Aug 10, 2011 8:30am Aug 10, 2011 8:30am
Quoting gsantri
Agreed, not even 6150 imo. she already did yesterday.
Today is EU day
hello bro,
i noticed EU near 44 againg.. i though 'bit too much for EU' lolz

this 424 sounds better
90% of traders use TA, indicators and prediction
  • #286,083
  • Aug 10, 2011 8:38am Aug 10, 2011 8:38am
Dow -2.8%
Don't get mad, get even!
  • #286,084
  • Aug 10, 2011 8:40am Aug 10, 2011 8:40am
Attached,Looking Buy Opportunity
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  • #286,085
  • Aug 10, 2011 8:44am Aug 10, 2011 8:44am
demand + profit taking near 6160
pullback 25 pips
90% of traders use TA, indicators and prediction
  • #286,086
  • Aug 10, 2011 8:46am Aug 10, 2011 8:46am
i dont like when price stop few pips far from a main level.

6150 is a strong daily fibo.
is it being protected or a bull trap?!

mmm
i wait another bit
90% of traders use TA, indicators and prediction
  • #286,087
  • Aug 10, 2011 8:51am Aug 10, 2011 8:51am
Quoting _BBKing_
demand + profit taking near 6160
pullback 25 pips


6160 is sma200 in h4 chart + bottom channel line
90% of traders use TA, indicators and prediction
  • #286,088
  • Aug 10, 2011 8:52am Aug 10, 2011 8:52am
i feel tired...
better i leave n take some rest!
90% of traders use TA, indicators and prediction
  • #286,089
  • Aug 10, 2011 8:55am Aug 10, 2011 8:55am
Sold GU @6244, out @6175, not bad

Holding short on Eu @4321, watching 4202, maybe will exit there and done for the day
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  • #286,090
  • Aug 10, 2011 9:07am Aug 10, 2011 9:07am
Just hope this can play out then am done. for the day. Sweet money GU
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Keep the Lights on then you can catch the rise from the dark.
  • #286,091
  • Aug 10, 2011 9:23am Aug 10, 2011 9:23am
Quoting PhAnTi'
u dont use a proper MM,do you?
Depends on how you define "proper".

In case you are wondering, Im using EA on my real account. This month I am starting to learn to trade manually on demo. Thats why i started joining this thread. This thread is fun. I should have joined it much earlier. I learned so much from other people's analysis.

BTW, whats paulson's hedge fund? I didnt get that.
  • #286,092
  • Aug 10, 2011 9:29am Aug 10, 2011 9:29am
Quoting delorean
Depends on how you define "proper".

In case you are wondering, Im using EA on my real account. This month I am starting to learn to trade manually on demo. Thats why i started joining this thread. This thread is fun. I should have joined it much earlier. I learned so much from other people's analysis.

BTW, whats paulson's hedge fund? I didnt get that.
Never ever use EA my friend and never stop learning as you make mistakes when trade manually later
  • #286,093
  • Aug 10, 2011 9:33am Aug 10, 2011 9:33am
Quoting delorean
Depends on how you define "proper".

In case you are wondering, Im using EA on my real account. This month I am starting to learn to trade manually on demo. Thats why i started joining this thread. This thread is fun. I should have joined it much earlier. I learned so much from other people's analysis.

BTW, whats paulson's hedge fund? I didnt get that.
A hedge fund that became famous for making a fortune shorting equities right when the financial crisis spiralled out of control.

http://en.wikipedia.org/wiki/John_Paulson

They're reportedly down bigtime this year though.
  • #286,094
  • Aug 10, 2011 9:39am Aug 10, 2011 9:39am
Like that French bank dumping gold in recent weeks, talk about desperately trying to pick a top

Could also just be a rumour, those floor traders are like bored grannies, spending more time on gossip then trading...
Don't get mad, get even!
  • #286,095
  • Aug 10, 2011 9:48am Aug 10, 2011 9:48am
Quoting stulic
Like that French bank dumping gold in recent weeks, talk about desperately trying to pick a top

Could also just be a rumour, those floor traders are like bored grannies, spending more time on gossip then trading...
Well, the past two weeks were probably amongst the most interesting in their lives. If they didn't have any fun there, they either lost or chose the wrong job.

PS - which French bank dumped gold a few weeks back?
  • #286,096
  • Aug 10, 2011 9:50am Aug 10, 2011 9:50am
Just back at desk updating charts after own trading session finished earlier in the London morning.

Could be worse - just look at last 6 Eurusd daily candles -

1. Bullish Engulf, 2. Bearish thrust engulf, 3. Bullish belt hold, 4. Bearish dark cloud cover, 5 Bullish thrust engulf and today 6. although not closed yet could well be a bearish engulf/thrust engulf ?

Talk about an undecided market.
--------------------

Back to Cable and looking bearish overall with all strong pullbacks sold so far today...price Lo so far at the 76.4% 6067-6474 in the previous 4hr swing hi zone described below:

6164-6143 prev 4hr swing hi zone with 6164= 76.4% 6067-6474

Below here:

6128-19 prev 4hr sw lo zone with 6127 = 50% 5779-6474
6115 76.4% 6003-6474
6107 Weekly S2 @/around
6085-68 prev 4hr sw lo zone with 6068 = Daily S2 @/around
6045 61.8% 5779-6474
6032-13-03 prev daily/4hr sw lo zone
5998 Weekly S3 @/around
5976 Monthly S1 @/around
5963 Daily S3 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-20-5779 prev daily/4hr swing lo zone

G/L


　
　
　
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ex member
  • #286,097
  • Aug 10, 2011 9:52am Aug 10, 2011 9:52am
Quoting CoffeeGamble
Well, the past two weeks were probably amongst the most interesting in their lives. If they didn't have any fun there, they either lost or chose the wrong job.

PS - which French bank dumped gold a few weeks back?
Dunno yet, they've been talking about it on Bloomberg but the biggest bank Societe Generale plunged 20% today, although they're know for being heavily exposed to Greek debt too, who knows
Don't get mad, get even!
  • #286,098
  • Aug 10, 2011 9:54am Aug 10, 2011 9:54am
Here's the 4hr and it doesn't matter how many times I keep moving that ascending trend line down joining 5779 with a new swing lo - even if it gets a bounce it keeps getting breeched to the downside eventually Lol !

G/L
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ex member
  • #286,099
  • Aug 10, 2011 9:56am Aug 10, 2011 9:56am
Quoting stulic
Dunno yet, they've been talking about it on Bloomberg but the biggest bank Societe Generale plunged 20% today, although they're know for being heavily exposed to Greek debt too, who knows
SocGen down 20% in one day ! I'll be on the lookout for any Hitler parodies. You would think they'd be able to prevent such a disaster with put and call options, well... EDIT: Although if it's the peripheral exposure, understandable.

BNP Paribas is France's biggest though, by some measures the biggest in the world, I think.

EDIT 2: ...you mean the stock price. I thought first you were talking about their investment bank traders.
  • #286,100
  • Aug 10, 2011 9:59am Aug 10, 2011 9:59am
Quoting TrendTraders
Never ever use EA my friend and never stop learning as you make mistakes when trade manually later
Why not?

This is not the "set and forget" kind of EA. It does not use any indicators. It still needs my analysis and decisions of the market. If the "pros" advise to manually trade like a machine, why not let the machine trade like a machine and just monitor and make sure it does what it is suppose to do. The EA is only helping me to trade my analysis.

I don't claim I have the "holy grail". I understand it has its own weaknesses. BUT, when it goes wrong, I am ready to step in and correct it. Which is why I need to improve my market analysis skills. That is actually the main reason I am participating in this thread.

Thanks guys. All of you. Keep it up.
(Forgive me, i dont mean to be bragging or anything. Just sharing and learning)
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