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Cable Update (GBPUSD)

  • #291,881
  • Nov 4, 2011 3:53am Nov 4, 2011 3:53am
faster TF are not helping as usual at NFP day.
slower TF are too slow.

see you later good luck you all
90% of traders use TA, indicators and prediction
  • #291,882
  • Nov 4, 2011 3:54am Nov 4, 2011 3:54am
Quoting _BBKing_
is the HS in h4 still possible?
As a chart pattern it is invalidated, for me. But still, a break of 1.59 points very bearish.
Gone to a better place
  • #291,883
  • Nov 4, 2011 3:57am Nov 4, 2011 3:57am
100sma on the 1hr at the current lo, below here mni mentioning 5976 being 76.4% 5948-6061 as next likely area to hold bids ?

G/L
ex member
  • #291,884
  • Nov 4, 2011 3:58am Nov 4, 2011 3:58am
Quoting A-speculator
Why are you selling at that price? oh my..

i think you might need to learn support and resistance..

Impulse trading is not good my friend, learn to use PO, mate..
I think that was better to sell in top support area than sell in below support area. SL will always there.
  • #291,885
  • Nov 4, 2011 4:00am Nov 4, 2011 4:00am
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  • #291,886
  • Nov 4, 2011 4:02am Nov 4, 2011 4:02am
Perhaps I need to repeat the 2 main things that are crucial in trading.

1) Price
2) Time

Price - It is important to know what your price that you want to enter the market because from price you will know your risk and expected DD so you can position the size of your trade accordingly.

Time - Base on the TF you're trading, it is important to know how long you intend on staying with the opened position so that you won't panic by the noise from the market and good entry timing can eliminate entry during ranging. Ex. price has reached resistance @ 1.6. It definitely won't reverse on the same day. You might want to enter after some consolidation at that area.

I hope this little bit of info can be useful to the newcomers. I recommend reading on W.D Gann if you might want to know more regarding price and time related to the market.
  • #291,887
  • Nov 4, 2011 4:04am Nov 4, 2011 4:04am
bullish divergence plays 1,3, and 5min at the lo, 3min shown below:

Can the bulls build from here re a possible 1hr bull flag ?

G/L
Attached Image
ex member
  • #291,888
  • Nov 4, 2011 4:04am Nov 4, 2011 4:04am
Can you give me a link there?
It must be enjoyable learning from expert trader around the world
  • #291,889
  • Nov 4, 2011 4:08am Nov 4, 2011 4:08am
Quoting A-speculator
You can say a downtrend channel is a flag if and only if you got a breakout to the upside like the one you posted. Until that happen, it is a downtrend channel. I'm bearish for cable and fiber and bullish for swissy. That my 2 cents mate.

no that is wrong..actually
a flag of any sort is simply an upthurst of a move followed by range with a higher probability of a break in the direction of the pole..it is nothing more

Quoting ovaforty
The weekly candle has one more day remaining. At this point it is showing a hammer following a 3 white soldier formation. Yellow 5 sma retrace then up from there.

PA was quite bullish after euro rate cut for the eur/usd. Cable followed suit.Today's brutal moves cleared stops up and down the line for a possible move up.

Market Sentiment reversed to Risk On again after being seriously Risk Off, during the asian session. I wish the Greek would keep his mouth shut.

Ranges have held this week so far.
one could say this is a pole..

3 white soliders followed by a range..a break to the topside..??
  • #291,890
  • Nov 4, 2011 4:10am Nov 4, 2011 4:10am
Quoting bangcool
I think that was better to sell in top support area than sell in below support area. SL will always there.
It's true to sell highs and buy lows. but you are selling at about 1.6 which is a support... i don't know how I can describe this. Ok, I try my best.. 1.6 is regarded as previous resistance turned support due to the breakout of the previous candle, though 1.6 might be a good entry price but you must see the price breakout and confirmed first, in the other words, entry at breakout and retest pattern.

Since there's indicision in 4h, i'm not favoring to long the price but definitely i won't short @ 1.6.

I'm sorry mate, i'm not that good in english, and i hope you can understand my point.
  • #291,891
  • Nov 4, 2011 4:13am Nov 4, 2011 4:13am
Quoting nAVIN2007
no that is wrong..actually
a flag of any sort is simply an upthurst of a move followed by range with a higher probability of a break in the direction of the pole..it is nothing more
Yeah, i think yours is more accurate than mine.. Sorry for my english mate, sometimes i hardly elaborate on things..

Thanks mate.
  • #291,892
  • Nov 4, 2011 4:17am Nov 4, 2011 4:17am
Quoting A-speculator
Yeah, i think yours is more accurate than mine.. Sorry for my english mate, sometimes i hardly elaborate on things..

Thanks mate.

welcome bro!!..actually i dont like the word "wrong" which i used..in trading this is no right or wrong just different ideas

hope market treat u well
  • #291,893
  • Nov 4, 2011 4:20am Nov 4, 2011 4:20am
Quoting nAVIN2007
welcome bro!!..actually i dont like the word "wrong" which i used..in trading this is no right or wrong just different ideas

hope market treat u well
no problem mate, i only have 3 position, the fiber,cable and swissy but seems like the only moving is my least expected pair which is the swissy..
  • #291,894
  • Nov 4, 2011 4:21am Nov 4, 2011 4:21am

i like it
Quoting nAVIN2007
welcome bro!!..actually i dont like the word "wrong" which i used..in trading this is no right or wrong just different ideas

hope market treat u well
not euphoria follower
  • #291,895
  • Nov 4, 2011 4:24am Nov 4, 2011 4:24am
Bank exodus from euro zone sovereign debt quickens
not euphoria follower
  • #291,896
  • Nov 4, 2011 4:36am Nov 4, 2011 4:36am
clearly some demand at that 100sma (yello line, red = 200sma) - 1hr 5990/95...another dip to it and buyers emerged..this time a 3 and 5min bullish div play there.

price range so far today only 33% of the 20day atr

G/L
Attached Image
ex member
  • #291,897
  • Nov 4, 2011 4:59am Nov 4, 2011 4:59am
Hello Guys,

What is your forecast for today?

Regards,

Josef
  • #291,898
  • Nov 4, 2011 5:05am Nov 4, 2011 5:05am
i left charts when price 6000
came back now still 6000

lolz

i will come back after dow jones openings

90% of traders use TA, indicators and prediction
  • #291,899
  • Nov 4, 2011 5:06am Nov 4, 2011 5:06am
Hi

I don't see how any one can possibly have any kind of meaningful forecast (if by forecast you mean what is going to happen with price over a given time period) on any day let alone this day with big U.s NFP data due and what is happening in the Eu/ Greek situation etc... just follow the money that's all you gotta do.

G/L
Quoting josef
Hello Guys,

What is your forecast for today?

Regards,

Josef
ex member
  • #291,900
  • Nov 4, 2011 5:31am Nov 4, 2011 5:31am
So what will happen with today's U.s NFP (etc) release ? (1230pm gmt)

Well firstly, it's not what it used to be in respect of markets' reaction that's for sure. Secondly we are 'thru the looking glass' and black is white -and- white is black, or at least it can be - ie the reliable old reaction of $ strength on a good number and $ weakness on a poor number has been skewed by the risk-on / risk off thing...ie a good number shows U.s may be growing so there may be a better apetite for riskier assets and $ sells-off as money flows into other such asset classes, and vice versa.

The main variables are of course the headline number itself, the private sector jobs number, and un-employment rate ; their relationship with the previous number, (any revisions to those,) and of course these numbers' relationship to the forecasts.

Add to the usual 'circus' the febrile atmosphere re the Eu/Greek situation and ongoing G20 and anything (or indeed nothing) can happen

For me, I will be looking for a 1min (+) momentum thrust break out candle close on the immediate release to trade (given certain repeating circumstances) -and/or- The buy the 1st lo/sell the 1st pullback -or conversely- sell the 1st hi/buy the 1st pullback classic news/data play - should there be a definite direction established on it's release, and the repeating set-ups I look for actually develop re that play. Should none of these develop I will stay flat.

Whatever your approach - Good Luck. Anything can happen and I personally don't care what it is - just as long as it does.

' with volatility comes opportunity (for gain and loss) ! '

Outa here till NFP


G/L
ex member
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