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Cable Update (GBPUSD)

  • #290,881
  • Oct 19, 2011 7:40am Oct 19, 2011 7:40am
Quoting Faller
Short 1.5768 - Futures pricing - equates to 1.5779 forex price.

Stopped at previous daily high - 40 pips

Bad entry bad entry bad entry........write it down and learn.
I don't trust any move - when you have profit...take it.
  • #290,882
  • Oct 19, 2011 7:40am Oct 19, 2011 7:40am
23.6% of the 5710-5817 move held price in the pullback off 5817 and the knee-jerk reaction to 1330pm Uk time U.s data has seen that Hi exceeded now with price testing the last 1hr descending trend line right now...as price begins a challenge on the prev 1hr/4hr/daily swing hi zone that leads up to 5851 then farther out 5867. Plentty of fibs of the main swings down from and including 6746 and 6617 to 5270 overhead.

G/L
Attached Image
ex member
  • #290,883
  • Edited 7:58am Oct 19, 2011 7:49am | Edited 7:58am
....speaking of those fibs re main moves down from and including swings at 6746 and 6617 to 5720, near-term is below:

5835 38.2% 6746-5720
5846 61.8% 6207-5270
5862 50% 6454-5270

5888 76.4% 6082-5270

5907 Daily R2 @/around

5938 Weekly R1 @/around
5944 50% 6617-5270

5984 50% 6617-5270

5997 Daily R3 @/around

6001 61.8% 6454-5270
6007 50% 6746-5270

6057 Weekly R2 @/around

6103 61.8% 6617-5270

6117 Monthly R1 @/around

G/L
ex member
  • #290,884
  • Oct 19, 2011 8:00am Oct 19, 2011 8:00am
Well guys have a good day.......I am done with Cable for the day......I just scalped Oil long for 20 ticks and now I am positioning in Natural Gas - Will check in later......

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #290,885
  • Oct 19, 2011 8:07am Oct 19, 2011 8:07am
we are back at the major resistance, around 1.5850.
let us see if it will break it this time.
Attached Image (click to enlarge)
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  • #290,886
  • Oct 19, 2011 8:12am Oct 19, 2011 8:12am
that previous weekly swing lo is probably the real upside obstacle and the area in which the previous daily/4hr swing hi to 5867 and prev minor dly/4hr/1hr swing hi in there at 6851-last week's hi was found...it extends to 5944 ish on the weekly, the same swing lo on daily to 5902 area.

Just stopped in to see U.s data effects ...outa here now.

G/L
Attached Image
ex member
  • #290,887
  • Oct 19, 2011 8:18am Oct 19, 2011 8:18am
Quoting Faller
Stopped at previous daily high - 40 pips

Bad entry bad entry bad entry........write it down and learn.
I misunderstood when you said took a small position and let it run until y-day high, I thought you were hedging or reversed to long. Sorry.
  • #290,888
  • Oct 19, 2011 8:18am Oct 19, 2011 8:18am
Shorted cable @ 5840, highly risky trade based on previous resistance just for scalp for now..
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  • #290,889
  • Oct 19, 2011 8:22am Oct 19, 2011 8:22am
Quoting gsantri
I misunderstood when you said took a small position and let it run until y-day high, I thought you were hedging or reversed to long. Sorry.

Thanks.....no I stayed in it like a fool........had my stop set and it was taken out on that pop up just after 8:30AM........but the oil and now the profit I have on Nat Gas I am back to break even on the day........have a good day everyone.
I don't trust any move - when you have profit...take it.
  • #290,890
  • Oct 19, 2011 8:26am Oct 19, 2011 8:26am
It's funny I saw that as hi - probability for pip gain, price tests deep into a previous 1hr/4hr/minor daily swing hi zone (last week's hi) with offers touted there earlier and a fib 5846 = 61.8% 6207-5270 ....1m, 3min , 5min and 15min bearish div there as 1min set-up sees a good pa candle trigger close (1400pm uk time candle close on 1min)...

Flat again and done now - nice little trade I thought !

We all see things differently - probably depends on your target I guess ?

G/L

Quoting A-speculator
Shorted cable @ 5840, highly risky trade based on previous resistance just for scalp for now..
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ex member
  • #290,891
  • Oct 19, 2011 8:31am Oct 19, 2011 8:31am
Quoting ovaforty
Good morning all.

As i posted yesterday Risk was on. Buying dips made pips on risk appetite.

We are approaching resistance here as the hourly chart shows a small bounce off the 38 fib and a double top formation.
Hello, I see GBPAUD hourly making HH-HL on last 5 candles. and some other stuff seemed supporting.

Do you think we're going to reverse again here ?

Thanks.
  • #290,892
  • Oct 19, 2011 8:38am Oct 19, 2011 8:38am
Quoting bbmac
It's funny I saw that as hi - probability for pip gain, price tests deep into a previous 1hr/4hr/minor daily swing hi zone (last week's hi) with offers touted there earlier and a fib 5846 = 61.8% 6207-5270 ....1m, 3min , 5min and 15min bearish div there as 1min set-up sees a good pa candle trigger close (1400pm uk time candle close on 1min)...

Flat again and done now - nice little trade I thought !

We all see things differently - probably depends on your target I guess ?

G/L
Perhaps, I shorted some other pairs too. As I said, that is a high risk trade. Seems like fiber went well.. I average the risk on my trades based on some factors and definitely would not let it be -ve, I would closed all trades if it comes near -ve.
  • #290,893
  • Oct 19, 2011 8:45am Oct 19, 2011 8:45am
Quoting gsantri
Hello, I see GBPAUD hourly making HH-HL on last 5 candles. and some other stuff seemed supporting.

Do you think we're going to reverse again here ?

Thanks.
gbp/aud and eur/aud was quite bullish today, so far.
I am looking to sell at the brown 55 sma area around 1.5380/1.5400 area.

Sentiment is shaky now. Very choppy price action on all my charts.

typo, i meant bullish. This denotes risk off sentiment if this pair goes up. It is a carry trade.

Hard to call.
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  • #290,894
  • Oct 19, 2011 8:53am Oct 19, 2011 8:53am
Quoting ovaforty
Good morning all.

As i posted yesterday Risk was on. Buying dips made pips on risk appetite.

We are approaching resistance here as the hourly chart shows a small bounce off the 38 fib and a double top formation.
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #290,895
  • Oct 19, 2011 8:54am Oct 19, 2011 8:54am
I bought gbp/chf at 1.4200. exited now. waiting for pull back to test 1.4450 on that pair.
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  • #290,896
  • Oct 19, 2011 9:03am Oct 19, 2011 9:03am
Quoting ovaforty
gbp/aud and eur/aud was quite bullish today, so far.
I am looking to sell at the brown 55 sma area around 1.5380/1.5400 area.

Sentiment is shaky now. Very choppy price action on all my charts.

typo, i menat bullish. This denotes risk off sentiment if this pair goes up. It is a carry trade.

Hard to call.
I only see upside moves on GBPAUD, tough support below there.
And a tight range on gold and WTI today so far.
.
Attached Image (click to enlarge)
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  • #290,897
  • Oct 19, 2011 9:08am Oct 19, 2011 9:08am
Quoting DubaiFX
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.
got some good profit Gu long closed at 1.5820
and sold again at 1.5820 as i said before for 1.5660
lets see if i am wrong
Don't compare your Trades with Others
  • #290,898
  • Oct 19, 2011 9:09am Oct 19, 2011 9:09am
i am seeing a reversal of sentiment to risk off for now.

i deleted my risk appetite positions for now.

leaning to risk aversion strategy short term.
  • #290,899
  • Oct 19, 2011 9:16am Oct 19, 2011 9:16am
Cleared short, now I reversed position @ 5810.. Again, highly risky trade without concrete confirmation, just based on breakout retest candle pattern..
Attached Image (click to enlarge)
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  • #290,900
  • Oct 19, 2011 9:16am Oct 19, 2011 9:16am
Quoting ovaforty
i am seeing a reversal of sentiment to risk off for now.

i deleted my risk appetite positions for now.

leaning to risk aversion strategy short term.
Now we are talking

Thank You
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