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Cable Update (GBPUSD)

  • #290,501
  • Oct 14, 2011 3:57am Oct 14, 2011 3:57am
oh damn.....
i need to leave.


i must go for some calls.
will come back into NY session, hope market will be here
90% of traders use TA, indicators and prediction
  • #290,502
  • Oct 14, 2011 3:59am Oct 14, 2011 3:59am
Good spew BB KING, a particularly good or bad week?
Come with me if you want to live....
  • #290,503
  • Oct 14, 2011 3:59am Oct 14, 2011 3:59am
3rd test of the previous 1hr/4hr swing hi zone to wed's 5797 and current weekly hi..and more supply...nice 1 min bearish div and 5min PB candle print there.

How strong is this supply now ? is it getting eaten up with every attempt on that zone? will the bulls push thru ?

G/L
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ex member
  • #290,504
  • Oct 14, 2011 4:55am Oct 14, 2011 4:55am
Quoting _BBKing_
price need to print above 5800 to confirm uptrend.

a fail and we go out of channel/wedge and crash fast.

i dont think this will happen. im still in favour of longs until 59 area, but im not in any trade at moment excluding scalps.

i need to see it above 5800 first.

lets see
Hello BBKing,

yesterday I entered in 5717 strong support (for your picture published ). Now a see 5800... Tend Long yet
  • #290,505
  • Oct 14, 2011 5:04am Oct 14, 2011 5:04am
  • #290,506
  • Oct 14, 2011 6:12am Oct 14, 2011 6:12am
Quoting Juraganforex
GU must be break Up 1.5800 but the condition is more difficult because we must seee retail sales news to night. best for usd gu wil be drop again.

any opinion..??
Yes - as traders we hope to see news which is at variance with the forecast, because the forecast is usually already built in to the price. We have to be careful though because, for example, good news figures for the USA do not necessarily equate with a stronger dollar in the current volatile economic climate, because risk on and risk off considerations affect equities which inversely affect the USD.
Gone to a better place
  • #290,507
  • Oct 14, 2011 6:31am Oct 14, 2011 6:31am
when enter long its comes short..if enter short...trend spike to long...
confius... who's games
  • #290,508
  • Oct 14, 2011 6:48am Oct 14, 2011 6:48am
Not much to say about cable today. Daily bollinger band top is at 1.5816, so I am tempted to try to short a spike up to there. Its a Friday so I wouldn't look to fade a strong move, so would keep a small stop and look for a short if stopped out around 1.59.
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  • #290,509
  • Oct 14, 2011 9:03am Oct 14, 2011 9:03am
close long at 582x for 60 pip ( entry : http://www.forexfactory.com/showthre...72#post5040672 )

now am looking for short setup...coz based on daily fibo we're in extreme area for short ...( http://www.forexfactory.com/attachme...8&d=1318561434)
Quoting iqyu5an
what i see at the moment
not euphoria follower
  • #290,510
  • Oct 14, 2011 9:13am Oct 14, 2011 9:13am
i reloaded long when i noticed this reversed HS pattern happening against main h1+h4 ascending trendline.

i didn't post it coz it was quite risky trade.

now things are clear to me.

previous strong 5780-5800 area now shall act as support.
if happens we go to 5850 hourly resistance.

if higher we enter in what i have as shorting area 5850 till 5990.


meanwhile im opening now a short position SL 6150 target 5050.
if get stopped i loose 5€ so its very small. will add further if/when i see confirmation happening.

time will tell
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #290,511
  • Oct 14, 2011 9:36am Oct 14, 2011 9:36am
577x ?
Quoting _BBKing_
i reloaded long when i noticed this reversed HS pattern happening against main h1+h4 ascending trendline.

i didn't post it coz it was quite risky trade.

now things are clear to me.

previous strong 5780-5800 area now shall act as support.
if happens we go to 5850 hourly resistance.

if higher we enter in what i have as shorting area 5850 till 5990.


meanwhile im opening now a short position SL 6150 target 5050.
if get stopped i loose 5€ so its very small. will add further if/when i see confirmation happening.

time will tell
not euphoria follower
  • #290,512
  • Oct 14, 2011 10:38am Oct 14, 2011 10:38am
Quoting Ill-b-back
Good spew BB KING, a particularly good or bad week?
hello sorry for delay i was busy and not on my pc
very good week here! mostly coz i prefer when market goes up!
90% of traders use TA, indicators and prediction
  • #290,513
  • Oct 14, 2011 10:40am Oct 14, 2011 10:40am
Quoting Chelost
Hello BBKing,

yesterday I entered in 5717 strong support (for your picture published ). Now a see 5800... Tend Long yet
sorry for delay also you
yes better stay with trend when in doubt.
today morning was in doubt coz of 5780-5800 resistance.

then decided for long.... bit risky and 50% R/R

lucky day
90% of traders use TA, indicators and prediction
  • #290,514
  • Oct 14, 2011 10:43am Oct 14, 2011 10:43am
Quoting iqyu5an
577x ?
nice!
touched 5785 here...

targeted my long 5850 for 1pip
now possible consolidation here in 5800.

well, reloaded long 5802 SL 5770. 1/3 normal position
90% of traders use TA, indicators and prediction
  • #290,515
  • Oct 14, 2011 10:46am Oct 14, 2011 10:46am
forgot the chart...
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90% of traders use TA, indicators and prediction
  • #290,516
  • Oct 14, 2011 11:11am Oct 14, 2011 11:11am
Quoting iqyu5an
close long at 582x for 60 pip ( entry : http://www.forexfactory.com/showthre...72#post5040672 )

now am looking for short setup...coz based on daily fibo we're in extreme area for short ...( http://www.forexfactory.com/attachme...8&d=1318561434)
i was working on this same thing yesterday while sleeping
in the chart below i noticed those FE
black one is the ABC move
red one is the 123 move

static supports near 5870 and major 5990
there is a daily TL going now near 6000 same with that black 61.8FE

another max extension happens at near 6110 where another extreme FE

based on this i opened smallest position ever near 5800 which is also good area to start think for a short. im in with SL above 6150, but my prefered area to short is into 59. then depends on PA in next weeks....

update: the short i took is not in this platform. here i have a scalp long runnig...
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90% of traders use TA, indicators and prediction
  • #290,517
  • Oct 14, 2011 11:26am Oct 14, 2011 11:26am
yes dude this area is like extreme zone for me . whatever the price level .... it 's safe for short in this region. but a good MM is a must
Quoting _BBKing_
i was working on this same thing yesterday while sleeping
in the chart below i noticed those FE
black one is the ABC move
red one is the 123 move

static supports near 5870 and major 5990
there is a daily TL going now near 6000 same with that black 61.8FE

another max extension happens at near 6110 where another extreme FE

based on this i opened smallest position ever near 5800 which is also good area to start think for a short. im in with SL above 6150, but my prefered area to short is into 59....
not euphoria follower
  • #290,518
  • Oct 14, 2011 11:38am Oct 14, 2011 11:38am
i closed my EJ long yesterday when price was 105.90.
my target was 106.90
90% of traders use TA, indicators and prediction
  • #290,519
  • Oct 14, 2011 12:35pm Oct 14, 2011 12:35pm
is there some one still trading?

oh well, i have a question...
why the reason price is holding that steepest line instead of the one below whic appears in h4 chart?

is it because strong buy power still on market?

i will think about while having dinner....
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 36 KB
90% of traders use TA, indicators and prediction
  • #290,520
  • Oct 14, 2011 12:57pm Oct 14, 2011 12:57pm
well, well..

what a ride towards 5900 eh..

Hope everyone here already bank-in real nice profits..

By the way, I see a possible short position in EG at about 8770 since there is consolidation in daily. Just entered my limit pos, SL definitely above the doji's high.

What do you guys think?

PS: at the time of this writing, my pos has already been triggered. Let's just see..
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