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Cable Update (GBPUSD)

  • #290,841
  • Oct 19, 2011 3:22am Oct 19, 2011 3:22am
GJ on the other hand looks like a good place to long (4h).. right after the consolidation of candles.. ermmm
  • #290,842
  • Oct 19, 2011 3:22am Oct 19, 2011 3:22am
Quoting Faller
Price Action looks like a good area to short, however, news in 15 mins is keeping on the sideline......
was noticing the same. but i let data come out

.....good morning ....
90% of traders use TA, indicators and prediction
  • #290,843
  • Oct 19, 2011 3:45am Oct 19, 2011 3:45am
ok data came out (nochanges) and reaction down...
stopped on my gbp aud, already reversed position and covered the loss.
lets see next moves what will happen.

down move looks more probable, but yesterday found hourly support in this area 5695-5740
90% of traders use TA, indicators and prediction
  • #290,844
  • Edited 3:52am Oct 19, 2011 3:46am | Edited 3:52am
Rumours that Barclays are recommending a sell at current levels , target 5000, stop 6000

Unanimous Uk Boe/Mpc vote for Qe extension led to a knee-jerk fall, price finding some demand now at 5710 area. Current 1hr screenshot as below.

Remains mixed intraday atm.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 105 KB
ex member
  • #290,845
  • Oct 19, 2011 3:47am Oct 19, 2011 3:47am
Quoting _BBKing_
was noticing the same. but i let data come out

.....good morning ....
nothing really new from the news actually but still it thrilling
  • #290,846
  • Oct 19, 2011 3:53am Oct 19, 2011 3:53am
Quoting gsantri
nothing really new from the news actually but still it thrilling
yes matter is it could exit 1-0-8 or something shit to move price up.. who knows?! anyway price action was showing down pressure before data release, i stayed flat to hold profits in my pocket! market still here
90% of traders use TA, indicators and prediction
  • #290,847
  • Oct 19, 2011 3:55am Oct 19, 2011 3:55am
GU 15M chart making Dogi candle if confirmed we amy get another 50 pips high that will be good for to get high price for short and US data may help too so 5820 is where i will enter..
closed all positions
possible mong at GPBPAUD NAD GBPCAD maybe well time will tell

Younas.
Don't compare your Trades with Others
  • #290,848
  • Oct 19, 2011 3:56am Oct 19, 2011 3:56am
Quoting bbmac
Rumours that Barclays are recommending a sell at current levels , target 5000, stop 6000

Unanimous Uk Boe/Mpc vote for Qe extension led to a knee-jerk fall, price finding some demand now at 5710 area. Current 1hr screenshot as below.

Remains mixed intraday atm.

G/L
morning,
i had same position with low leverage and stop 6160. then i closed in 56 area hoping to get it again in 59 area
today closing price will give me another answer about....
90% of traders use TA, indicators and prediction
  • #290,849
  • Oct 19, 2011 4:00am Oct 19, 2011 4:00am
strong busing post data off that previous minor 1htr swing lo zone - mni had been touting bids in the 5715-00 region. Bullish div play on 1min at the bottom and 3/5/10/15min went on to print nice candles.

1min shown below

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 107 KB
ex member
  • #290,850
  • Oct 19, 2011 4:05am Oct 19, 2011 4:05am
beginning to look more neutral-bullish intraday/this london session so far with that 1hr PB candle close ? Nice 30min bullish hammer close at same time.

Upside obstacles shown below.

Time will tell

G/L
Attached Image
ex member
  • #290,851
  • Oct 19, 2011 4:05am Oct 19, 2011 4:05am
PO for GJ got hit at top of the consolidation of 4h candles. Cable really make me nervous today, so no position atm.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 30 KB
  • #290,852
  • Edited 5:08am Oct 19, 2011 4:09am | Edited 5:08am
Quoting _BBKing_
yes matter is it could exit 1-0-8 or something shit to move price up.. who knows?! anyway price action was showing down pressure before data release, i stayed flat to hold profits in my pocket! market still here
well maybe I was lucky bought at 5719 on that news spiked down
  • #290,853
  • Oct 19, 2011 4:15am Oct 19, 2011 4:15am
I still scratch my head......Germany can't cover their bond auction......economists say Germany is either in another recession or about to be in one.......and everything rallies.........unreal.
I don't trust any move - when you have profit...take it.
  • #290,854
  • Oct 19, 2011 4:22am Oct 19, 2011 4:22am
There are many bullish/bearish rallys/moves in overall seemingly negative/positive fundie/global macro environments....as tech traders we don't need to work it out - we just trade our edges.

G/L

Quoting Faller
I still scratch my head......Germany can't cover their bond auction......economists say Germany is either in another recession or about to be in one.......and everything rallies.........unreal.
ex member
  • #290,855
  • Edited 4:38am Oct 19, 2011 4:23am | Edited 4:38am
Short 1.5768 - Futures pricing - equates to 1.5779 forex price.
Attached Image (click to enlarge)
Click to Enlarge Name: Pound Trade Enter 1.jpg Size: 144 KB
I don't trust any move - when you have profit...take it.
  • #290,856
  • Oct 19, 2011 4:25am Oct 19, 2011 4:25am
adding more short @ 15780 risking 5% my equity
Just Newbie Need Guidance From The Expert
  • #290,857
  • Oct 19, 2011 4:26am Oct 19, 2011 4:26am
question now is will the previous 1hr swing hi (prev resistance) just breeched in this move to upside now act as support on any test of it from this topside of it ?

Time will tell.

G/L
ex member
  • #290,858
  • Oct 19, 2011 4:29am Oct 19, 2011 4:29am
your trade could work out well or it could stop out, G/L with it, but with a strong post data move up and a bullish scenario overall - intraday and upside breech of asian hi and 2 x descending trend lines on 1hr - is it a hi-probability trade ?

anything can happen of course...I just prefer to be hi-probability and short where there is a confluennce of reasons to do so, confirmed by PA .

Also, if you risk 5% on a lo-probability trade what do you risk on a hi-probability ?

G/L

Quoting NoviceInd
adding more short @ 15780 risking 5% my equity
ex member
  • #290,859
  • Oct 19, 2011 4:33am Oct 19, 2011 4:33am
mni saying:

'... could be offers into 5800, more @ 5820/25 and stronger @ 5850/55...main demand interest at 5700/10 now ...'

76.4% 5851-5629 @ 5699

G/L
ex member
  • #290,860
  • Oct 19, 2011 4:34am Oct 19, 2011 4:34am
this thing is going up.

was in my plan.
news confused me.
bad mistake today!
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