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Cable Update (GBPUSD)

  • #295,901
  • Dec 28, 2011 3:28pm Dec 28, 2011 3:28pm
Quoting PoundTrader
traders need to stop looking for a trend and start looking for a range, market range 99% of the time daily, trend only happens very long term, likes months and years
you feeling a reverse then??
  • #295,902
  • Dec 28, 2011 3:28pm Dec 28, 2011 3:28pm
Quoting PoundTrader
i sold at 1.5668. s/l 1.5751, t/p 1.5598
going for another one this time on a long, this may take me into friday, lets see
  • #295,903
  • Dec 28, 2011 3:29pm Dec 28, 2011 3:29pm
Quoting GB_Trader
you feeling a reverse then??
the reverse is never a trend just a range, trend trading only comes once in a blue moon.
  • #295,904
  • Dec 28, 2011 3:32pm Dec 28, 2011 3:32pm
damn i think i told to much, im done talking wish everyone luck
  • #295,905
  • Dec 28, 2011 3:32pm Dec 28, 2011 3:32pm
There will be more bargain basement buying opportunities on the way back up than on boxing day I reckon. Patiently waiting for reversal signal.
Come with me if you want to live....
  • #295,906
  • Dec 28, 2011 3:35pm Dec 28, 2011 3:35pm
Quoting PoundTrader
damn i think i told to much, im done talking wish everyone luck

  • #295,907
  • Dec 28, 2011 3:35pm Dec 28, 2011 3:35pm
Quoting Ill-b-back
There will be more bargain basement buying opportunities on the way back up than on boxing day I reckon. Patiently waiting for reversal signal.
The first reasonable comment I read so far
Hear the music before the song is over ...
  • #295,908
  • Dec 28, 2011 3:36pm Dec 28, 2011 3:36pm
Quoting nAVIN2007
  • #295,909
  • Dec 28, 2011 3:43pm Dec 28, 2011 3:43pm
Quoting nAVIN2007
i will not be surprised if this move corrects back up..we also pretty much formed the trendline touch on gold..i feel that had to happen..if this happens nothing will have changed monthly needs to be a doji at this stage
Where do you see a Doji on monthly gold, bro?
Attached Image (click to enlarge)
Click to Enlarge Name: gold_m.gif Size: 12 KB
Hear the music before the song is over ...
  • #295,910
  • Dec 28, 2011 3:46pm Dec 28, 2011 3:46pm
Quoting GlobalMacro
Where do you see a Doji on monthly gold, bro?
gold is to damn high, if i had 10mill i will be shorting gold till all my funds is gone, cause i know i can turn that 10mill into 100mill within the next 2yrs
  • #295,911
  • Dec 28, 2011 3:51pm Dec 28, 2011 3:51pm
Quoting GlobalMacro
Where do you see a Doji on monthly gold, bro?

no not on gold bro..i mean gold needed to touch this trendline..the doji..im talking about is for cable....now that gold has reached this point cable might retract up

that will not be easy to break
  • #295,912
  • Dec 28, 2011 3:51pm Dec 28, 2011 3:51pm
Quoting PoundTrader
gold is to damn high, if i had 10mill i will be shorting gold till all my funds is gone, cause i know i can turn that 10mill into 100mill within the next 2yrs
Any specific reason it has to be 10 mill?
Hear the music before the song is over ...
  • #295,913
  • Dec 28, 2011 4:07pm Dec 28, 2011 4:07pm
Quoting GlobalMacro
Any specific reason it has to be 10 mill?
simple more money i can make, the bigger the trade the greater the reward and also risk, simple math
  • #295,914
  • Dec 28, 2011 4:08pm Dec 28, 2011 4:08pm
ok here's is my set-up, buying at 1.5455, s/l 1.5279, t/p 1.5687
  • #295,915
  • Dec 28, 2011 4:09pm Dec 28, 2011 4:09pm
Quoting nAVIN2007
no not on gold bro..i mean gold needed to touch this trendline..the doji..im talking about is for cable....now that gold has reached this point cable might retract up

that will not be easy to break
OK I see...but still I'm afraid I don't follow...why should cable pull back up just because Gold has reached a certain point?
Also for Cable to resemble anything like a Doji on Monthly, she has to rally to at least 1.5650 and above...that is incidentally the same 200 pips she just fell today...we got only two good days left in the month and the year...
What makes you skeptical of today's intense dollar rally -- across the board?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_m.gif Size: 16 KB
Hear the music before the song is over ...
  • #295,916
  • Dec 28, 2011 4:23pm Dec 28, 2011 4:23pm
Quoting GlobalMacro
OK I see...but still I'm afraid I don't follow...why should cable pull back up just because Gold has reached a certain point?
Also for Cable to resemble anything like a Doji on Monthly, she has to rally to at least 1.5650 and above...that is incidentally the same 200 pips she just fell today...we got only two good days left in the month and the year...
What makes you skeptical of today's intense dollar rally -- across the board?

am bullish on pound long term..i will post a private link i hate posting charts exposing my drawdowns..
  • #295,917
  • Dec 28, 2011 4:28pm Dec 28, 2011 4:28pm
can someone please vote for me, pretty please
  • #295,918
  • Edited 5:13pm Dec 28, 2011 4:31pm | Edited 5:13pm
Today's precipitous fall in cable (197% of 20 day atr) has seen a current daily low at the Daily and co-existant steepest Weekly ascending trend lines, confluence with a previous 4hr swing lo zone and Weekly S1 pivot.

Below current price, the following potential support factors reside to this immediate downside, which looks more vulnerable now.

[ 5445-40 prev 1hr minor sw lo zone
[ 5444-38-32 prev 4hr/1hr sw lo zone incl 5441= Weekly S1 @/around
[ 5432-20-09 prev Daily/4hr sw lo zone
[ 5440-5430 Steepest Weekly & Daily t/f asc t/lines
5401 85.4% 5270-6165
5369 Monthly S1 @/around
5334-5314- 5270 prev Weekly/Daily/4hr sw lo zone (* 5420-5270 co-existing prev weekly sw lo zone) incl 5298 = Weekly S2 @/around
5189 61.8% 4225-6746
5132 Weekly S3 @/around
5130-10 Monthly/Weekly ascending trend line
5042 Monthly S2 @/around
5015-4947 prev Weekly sw lo zone
4819 76.4% 4225-6746
4662 Monthly S3 @/around
4593 85.4% 4225-6746

To the immediate upside per current near-term 1hr screenshot below.

G/L
Attached Image(s) (click to enlarge)
Click to Enlarge Name: z1.jpg Size: 78 KB
Click to Enlarge Name: zd.jpg Size: 71 KB
Click to Enlarge Name: zw.jpg Size: 60 KB
ex member
  • #295,919
  • Dec 28, 2011 4:34pm Dec 28, 2011 4:34pm
Quoting PoundTrader
can someone please vote for me, pretty please
i mean vouch for me
  • #295,920
  • Dec 28, 2011 4:36pm Dec 28, 2011 4:36pm
Current near-term 4hr chart as below

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 88 KB
ex member
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