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Cable Update (GBPUSD)

  • #301,221
  • Feb 23, 2012 3:32am Feb 23, 2012 3:32am
hidden divergence building on 1hr although intervening PA since the 5647 lo on this t/f is not optimally conducive - ie price is not at an immediate LH on this t/f.

G/L
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ex member
  • #301,222
  • Feb 23, 2012 3:39am Feb 23, 2012 3:39am
Don't wake her up Faller.

Here's a chart:

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Why didn't it make the previous high? I'm going to hold my short because my theory is that 5730 was burst by stop hunters and the gap at the top of that burst was (hopefully) more bulls getting grilled. I am looking closely at the level (5730) again because it may coincide with USD/CHF .9000 which is significant to us dollar bulls...
Gone to a better place
  • #301,223
  • Feb 23, 2012 3:43am Feb 23, 2012 3:43am
5723 was yesterday's 30min pullback hi off 5694 before the drop to yesterday's 5647 lo...ie it is not a fractal swing on 1hr.

G/L
ex member
  • #301,224
  • Feb 23, 2012 3:44am Feb 23, 2012 3:44am
Quoting smikester
Don't wake her up Faller.

Here's a chart:

Attachment

Why didn't it make the previous high? I'm going to hold my short because my theory is that 5730 was burst by stop hunters and the gap at the top of that burst was (hopefully) more bulls getting grilled. I am looking closely at the level (5730) again because it may coincide with USD/CHF .9000 which is significant to us dollar bulls...
  • #301,225
  • Feb 23, 2012 3:49am Feb 23, 2012 3:49am
I am sure there a lot of 'sell the rally' participants just itching to short this again ? Lol

G/L
ex member
  • #301,226
  • Feb 23, 2012 3:51am Feb 23, 2012 3:51am
Quoting bbmac
5723 was yesterday's 30min pullback hi off 5694 before the drop to yesterday's 5647 lo...ie it is not a fractal swing on 1hr.

G/L
Thanks that is interesting but 5730-42 is a daily/weekly s/r level?
Gone to a better place
  • #301,227
  • Feb 23, 2012 3:54am Feb 23, 2012 3:54am
current near-term 1hr screenshot below. Daily R1 is @/around 5773 and Weekly Pivot just above @/around 5775.

G/L
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ex member
  • #301,228
  • Feb 23, 2012 3:58am Feb 23, 2012 3:58am
Quoting bbmac
I am sure there a lot of 'sell the rally' participants just itching to short this again ? Lol

G/L
I know it's a race to see who can print the most money but on 8th February the BOE voted another 50 billion a month and 2 of the nine wanted an extra 75 billion.

Today we hear RBS has lost another billion (OK it was only 700 million) but will pay out 300 million in bonuses.

Am I going mad? Did I just make up all this?

I seriously think I'm going mad. Going to make some coffee and going for a run.
Gone to a better place
  • #301,229
  • Feb 23, 2012 4:00am Feb 23, 2012 4:00am
yeh I see on the daily that it was resistance then that got breeched to the upside and on a pullback it acted as support for the move up to 5927...but it was then breeched 1st to the downside on the move down to 5643 then to the upside on the move from 5643-5878 and then the downside again on the 5878-yesterday's 5647 lo - so I do not have that as a potentially significant level now - per my own methodology for determining potential s/r..this is not to say that it won't be - just that I haven't got it !

Will be interesting to see what happens there now if tested...50% of yesterday's move down is @ 5729 as well as 38.2% of the longer move down from 5865 - both to 5647.

G/L

Quoting smikester
Thanks that is interesting but 5730-42 is a daily/weekly s/r level?
ex member
  • #301,230
  • Feb 23, 2012 4:11am Feb 23, 2012 4:11am
Good morning all -

Love all the comments this morning - personally.....I just closed a scalp long open 1.5702 closed 1.5720. Took the trade off the UK data at 4:30AM and a technical setup from the intra day charts that I look at.

I am not long term bias for cable one way or the other - I am just trading this market - trading what I see when I see it......

Again...good morning to all -happy pipping!

Faller.
I don't trust any move - when you have profit...take it.
  • #301,231
  • Feb 23, 2012 4:11am Feb 23, 2012 4:11am
Quoting yoshitsune
Dear Tsar, those indicators that you posted are quite interesting for scalping... would you mind sharing those indicators to us?
thanks vm..

yoshi
Hi yoshitsune,

Yup... This System will Work for SCALP.
Need One Indicator again. I still looking for in my Indies Collection
Don't worry, I will to share to you. Be Patient, today will Finish !
Always looking the GREAT, never left GOOD Point...
  • #301,232
  • Feb 23, 2012 4:13am Feb 23, 2012 4:13am
Quoting Faller
All good Bguguen!

I am just watching some American Idol - then heading to bed so I can be up for London.....

Peace Out......

also grabbed a small long about 5 mins ago off the 1.5650 double bottom - just looking for a quick scalp here....but if it bounces up.....all the better.
Quoting Faller
closed long plus 15 pips - like I said....just a quick scalp.....but looks like it may move up another 15 to 30 pips - but what do I know.

closed flat - sidelines.......going to bed now.
Above - just a couple of my comments from last night....just what I was seeing last night and how it all worked out.

Cheers....
I don't trust any move - when you have profit...take it.
  • #301,233
  • Feb 23, 2012 4:22am Feb 23, 2012 4:22am
30min shows that pullback hi at 5623 better.

Retaining a bullish feel intraday, and on 30min and below I guess.

G/L
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ex member
  • #301,234
  • Feb 23, 2012 4:28am Feb 23, 2012 4:28am
The intraday buy the dip players are fearing the longer term sell the rally players coming in ? Lol

G/L
ex member
  • #301,235
  • Feb 23, 2012 4:34am Feb 23, 2012 4:34am
5720 hit. 150 pips off 3 trades, not bad for a slow day
Come with me if you want to live....
  • #301,236
  • Feb 23, 2012 4:43am Feb 23, 2012 4:43am
On 1hr screenshot below the green wide dotted l;ine is the 4hr/daily ascending trend line that got breeched to the downside yesterday...this may be another place the sell the rally types decide to come in if tested ?

G/L
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ex member
  • #301,237
  • Feb 23, 2012 4:44am Feb 23, 2012 4:44am
Got a bullish feel...
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To live a successful life, we must lose our fear of being wrong
  • #301,238
  • Feb 23, 2012 4:53am Feb 23, 2012 4:53am
Quoting Ill-b-back
5720 hit. 150 pips off 3 trades, not bad for a slow day
now what happens
  • #301,239
  • Feb 23, 2012 4:55am Feb 23, 2012 4:55am
tested the top of that 30min pullback hi from yesterday...some supply there ...will all the intraday longs exit now fearing giving it back -or- will the dip be bought again targetting higher possibly the 50% of yesterday's fall or underside of that previous 4hr/daily ascending t/line ?

3 and 5min classic regular bearish div plays there.

G/L
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ex member
  • #301,240
  • Feb 23, 2012 5:12am Feb 23, 2012 5:12am
near-term current 4hr is below.

G/L
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ex member
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