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Cable Update (GBPUSD)

  • #294,141
  • Dec 6, 2011 12:45pm Dec 6, 2011 12:45pm
Quoting A-speculator
with enough banging the wall, i think at one time the wall will crack.. or maybe my head?

don't worry mate, i don't mind trading with no profit or some profit, i will try my best to avoid losses and by trading 4 pairs i think i manage to minimize the DD/losses.

green pips mate, always.
Good day to you,

Thank you for the wishes.

I am probably the very last person to talk... but I need you to see if you can adjust slightly. Your general analysis is good. I like the fact that you cross reference and you think logically. I am however concerned about the fact that you impose your immediate view on others. " You can not enter there..... you should have rather entered here"....etc.etc. It's wrong.

From the way you conduct yourself, I can deduct that the reason for this is that you only want to assist. You are meaning well. Continue to post your setups - that is always appreciated - but stop the comments on other's entries? Please?

Let others trade their accounts as they see fit.

I do hope you do not take offence. If you do - my apology. I do hope you take this post in the way it is meant.... I'm giving you my vouch purely based on your attitude, your analytical ability and your recent trade entries. They were all spot on for the short term - so well done on that.

Ps - become like water

For the rest of the forum - I'm not posting to belittle - I'm posting to uplift.

Warm regards
  • #294,142
  • Dec 6, 2011 12:57pm Dec 6, 2011 12:57pm
Quoting TauTrader
Good day to you,

Thank you for the wishes.

I am probably the very last person to talk... but I need you to see if you can adjust slightly. Your general analysis is good. I like the fact that you cross reference and you think logically. I am however concerned about the fact that you impose your immediate view on others. " You can not enter there..... you should have rather entered here"....etc.etc. It's wrong.

From the way you conduct yourself, I can deduct that the reason for this is that you only want to assist. You are meaning well. Continue...
thanks for commenting my bad altitude mate, it won't happen again. I can assure you that i'm trying my best to assist others but if i ever said anything that offend people please comment on it. I am welcome to anybody critics.

By the way, if i ever asked people on why they entered a position is purely just because i really wanted to understand the reason behind the decision since there are newbie entered position because of their gut feeling says to long or short. I try to educate the newcomers to not do that.

for the senior, please also comment/critic my trading decision/my unreasonable comment to others since i am aware that i am only human being and humans make mistakes.

Thanks mate.
  • #294,143
  • Dec 6, 2011 1:07pm Dec 6, 2011 1:07pm
Quoting A-speculator
thanks for commenting my bad altitude mate, it won't happen again. I can assure you that i'm trying my best to assist others but if i ever said anything that offend people please comment on it. I am welcome to anybody critics.

By the way, if i ever asked people on why they entered a position is purely just because i really wanted to understand the reason behind the decision since there are newbie entered position because of their gut feeling says to long or short. I try to educate the newcomers to not do that.

for the senior, please also comment/critic...
im not here so much these days due to holidays and sick days,so i missed a lot of things and have really no-time to read whole history....
anyway i think your contribution here is good with reasonable trading ideas!
90% of traders use TA, indicators and prediction
  • #294,144
  • Dec 6, 2011 1:11pm Dec 6, 2011 1:11pm
Quoting _BBKing_
im not here so much these days due to holidays and sick days,so i missed a lot of things and have really no-time to read whole history....
anyway i think your contribution here is good with reasonable trading ideas!
thanks mate. i really like this thread because it didn't update so much so i have the time to read the back post. i hope everyone in here will also find this thread useful.

thanks again and green pips to you mate.
  • #294,145
  • Dec 6, 2011 1:28pm Dec 6, 2011 1:28pm
ok, back to business, entered long at the 4h support. the trigger is the 30m small doji/hammer and due to retracement in eg and failed resistance test in swissy.

in my view, i think eg has enough room to retest the 50% retracement area in which will bring back cable to retest the resistance.

Confirmation on this bias is the breakout of 5600 for cable..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.gif Size: 35 KB
Click to Enlarge Name: cable2.gif Size: 33 KB
Click to Enlarge Name: eg.gif Size: 37 KB
  • #294,146
  • Dec 6, 2011 1:33pm Dec 6, 2011 1:33pm
i just realize that we may have an inverted head & shoulder in 4h which currently price retest its neckline.

Tell me what you think of it.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 36 KB
  • #294,147
  • Dec 6, 2011 4:22pm Dec 6, 2011 4:22pm
it's still slow...

Shut down my PC.... see you guys...
  • #294,148
  • Dec 6, 2011 7:13pm Dec 6, 2011 7:13pm
dont forget weekly setups... and reasons why price came down from 1.58 last week
http://www.forexfactory.com/showthre...74#post5200174
90% of traders use TA, indicators and prediction
  • #294,149
  • Dec 6, 2011 7:14pm Dec 6, 2011 7:14pm
6 hours around 1.5600

i go for a deep sleep.
good luck everybody
90% of traders use TA, indicators and prediction
  • #294,150
  • Dec 6, 2011 8:31pm Dec 6, 2011 8:31pm
Good day to you,

Im going to be looking to buy at a lower level over the next few sessions. I'm not sure exactly where - but I would like to see a drop in price to clear recent stops sitting lower first.

Will then give more detail. The attached chart gives you an idea of what I am looking for to validate my trade idea. Not the levels per se - but the shape of movement i'm looking for.

All the best for the day

Regards
Attached Image (click to enlarge)
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  • #294,151
  • Dec 7, 2011 12:42am Dec 7, 2011 12:42am
Good Morning

Cable still capped @ 1.5640 area
  • #294,152
  • Dec 7, 2011 12:59am Dec 7, 2011 12:59am
.
Attached Image (click to enlarge)
Click to Enlarge Name: pvjj170gif.gif Size: 18 KB
not euphoria follower
  • #294,153
  • Dec 7, 2011 1:12am Dec 7, 2011 1:12am
i hope cable will have enough momentum to break ~5700 area resistance after the deep downmove yesterday.

nothing much to update since yesterday position. Will add to the position if cable manage to break the said resistance first.

As for swissy, as expected it will move down since it has no more room to hover on the upside which bring this upmove to both fiber and cable.

As for eg, we may have continuation to the yesterday move if price manage to break 8606, but i think it will range in between 8590-8610 price area before a retracement back to test the high of breakout range at about 8565.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 32 KB
  • #294,154
  • Dec 7, 2011 1:28am Dec 7, 2011 1:28am
ok, for bulls, look out for the breakout of the descending trendline which has been holding us from going to the upper level. If we manage to break 5700 by today, then i think it is safe to enter long on the retest.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 38 KB
  • #294,155
  • Dec 7, 2011 1:36am Dec 7, 2011 1:36am
seems as good a place as any to short
Attached Image (click to enlarge)
Click to Enlarge Name: short2.gif Size: 22 KB
Come with me if you want to live....
  • #294,156
  • Dec 7, 2011 1:40am Dec 7, 2011 1:40am
Chart Update

Sell From Top
Attached Image (click to enlarge)
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  • #294,157
  • Dec 7, 2011 2:06am Dec 7, 2011 2:06am
G/M,

Another subdued pip range yesterday under the 20day atr and a bearish engulfing candle resulted on the Daily t/f.

Daily still in it's downtrend with 3 x LL's and 4 x LH's. 4hr probably in something of a downtrend now although probably more mixed on that t/f and on 1hr again mixed-not clear. Yesterday's Lo - 5560 @ the 2 fib 'cluster' 5563/59 85.4% 5525-5780/61.8% 5422-5780

Potential support/rbs to the downside and down to yesterday's lo per the current near-term 1hr chart below and below there per:

5569-60 prev 4hr/1hr swing lo zone incl 5563/59 85.4% 5525-5780/61.8% 5422-5780

5552 Daily S1 @/around
5550-36-25 prev 4hr/1hr sw lo zone incl 5541 = 76.4% 5467-5780
5513 85.4% 5467-5780
5507 76.4% 5422-5780
5505 Daily S2 @/around
5503-5495 prev 1hr sw lo zone
5487-77-68 prev 4hr/1hr sw lo zone incl 5476 = 85.4% 5422-5780
5465-60-57 prev 4hr/1hr sw lo zone
5450-35 Daily Asc t/line incl 5449 = Daily S3 @/around and Weekly S1 @/around 5442

5434-22 prev Daily/4hr/1hr sw lo zone
5410-5390 Steepest Weekly t/f asc t/line
5386 85.4% 5270-6165
5369 Monthly S1 @/around
5420-5345-5330-5270 prev weekly/daily/4hr swing lo zone incl 5290 = Weekly S2 @/around

5189 61.8% 4225-6746
5122 Weekly S3 @/around
5095-85 Weekly t/f asc t/line
5046 Monthly S2 @/around
5015-4947 prev weekly sw lo zone
4819 76.4% 4225-6746
4662 Monthly S3 @/around
4593 85,4% 4225-6746

Immediately Above current price per the current near-term 1hr chart below with 5655, 5710 and 5757 beinng where the daily R1, R2, and R3 pivots are @/around.

Uk data at 0930.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 120 KB
ex member
  • #294,158
  • Dec 7, 2011 2:10am Dec 7, 2011 2:10am
Just come off 61.8 retrace on the button. Cancelled sell, buying trendline break.
Attached Image (click to enlarge)
Click to Enlarge Name: short2.gif Size: 19 KB
Come with me if you want to live....
  • #294,159
  • Dec 7, 2011 2:24am Dec 7, 2011 2:24am
the previous 1hr swing hi with the 38.2% 5754-5560, 50% 5716-5560 and 76.4% 5663-5560 is where the current supply is/upside hurdle.

G/L
ex member
  • #294,160
  • Dec 7, 2011 2:27am Dec 7, 2011 2:27am
Quoting A-speculator
ok, for bulls, look out for the breakout of the descending trendline which has been holding us from going to the upper level. If we manage to break 5700 by today, then i think it is safe to enter long on the retest.
i agree!
im leaving charts now.
i hope when i come back to see that line broken
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