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Cable Update (GBPUSD)

  • #301,621
  • Feb 27, 2012 10:57am Feb 27, 2012 10:57am
Quoting bbakker
I'm not bothered as I am still sitting pretty with my last runner from a trade I opened last week...

Attachment

I got a couple of places where I might add... see if you can guess where that would be?

thats what i call nailing a trade
  • #301,622
  • Feb 27, 2012 11:00am Feb 27, 2012 11:00am
...the German Parliament are currently debating, and will vote a little later, on whether to back the bailout packaged proposed for Greece. Sterling exposure to European banking is still of some significance, and so Cable will be rocking around a little until the expected result - which is to be in favour of said bailout.

However, there is a lot of political reputations in Germany on the line, and the public most certainly do not back having their taxes used in Greece, as opposed to better schools and hospitals and general public services in Germany. Fact, Germany on the ground is seeing a reduction in living standards, and they do not like it. The politicians in Germany know this, and so a shock result later today may be on, but who knows?

You may well be in a bad position at the worst time. I would seriously question if you want luck to be on your side, or pragmatism, and cut your losses in order to fight another day.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #301,623
  • Feb 27, 2012 11:02am Feb 27, 2012 11:02am
Quoting 45Condor
...the German Parliament are currently debating, and will vote a little later, on whether to back the bailout packaged proposed for Greece. Sterling exposure to European banking is still of some significance, and so Cable will be rocking around a little until the expected result - which is to be in favour of said bailout.

However, there is a lot of political reputations in Germany on the line, and the public most certainly do not back having their taxes used in Greece, as opposed to better schools and hospitals and general public services in Germany....
theres news on facebook kathy lein

"Another hurdle cleared - German Parliament approves Greek second bailout +EUR@
  • #301,624
  • Feb 27, 2012 11:07am Feb 27, 2012 11:07am
Quoting nAVIN2007
thats what i call nailing a trade
I scaled into it and I have scaled out of it. This was my last scale in and is also my last scale out using a trailing stop.

Like Condor45 says... ze Germans are voting for the bailout. The lower house, or Bundestag, voted 496 in favor of the measure; 90 voted against, while 5 abstained in Berlin today. Now the upper house (if they are voting on this, not too sure!). Time to remain cautious.

Then we still have the Dutch and Finns to vote on it in the next 10 days or so.
  • #301,625
  • Feb 27, 2012 11:08am Feb 27, 2012 11:08am
Quoting nAVIN2007
theres news on facebook kathy lein

"Another hurdle cleared - German Parliament approves Greek second bailout +EUR@
...I'm a little behind - trying to follow German TV via de Spiegel, but my German aptitude extends to one syllable words, which they have very few of in German.

Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #301,626
  • Feb 27, 2012 11:09am Feb 27, 2012 11:09am
market seems unwilling to take risks on cable and euro.
it goes to aussie. pressing GBPAUD all-out
  • #301,627
  • Feb 27, 2012 11:12am Feb 27, 2012 11:12am
Quoting 45Condor
...I'm a little behind - trying to follow German TV via de Spiegel, but my German aptitude extends to one syllable words, which they have very few of in German.

lol... nein or ja is all you need to know when it comes to the vote unless they have something daft like the British with their ayes and noes.
  • #301,628
  • Feb 27, 2012 11:12am Feb 27, 2012 11:12am
Quoting 45Condor
...I'm a little behind - trying to follow German TV via de Spiegel, but my German aptitude extends to one syllable words, which they have very few of in German.

  • #301,629
  • Feb 27, 2012 11:13am Feb 27, 2012 11:13am
Quoting gsantri
market seems unwilling to take risks on cable and euro.
it goes to aussie. pressing GBPAUD all-out
On the daily that looks like a buy as it is coming into demand. Thanks for the heads-up! I am in @ 1.4710 with a tight SL @ 1.4699
  • #301,630
  • Feb 27, 2012 11:32am Feb 27, 2012 11:32am
Quoting bbakker
On the daily that looks like a buy as it is coming into demand. Thanks for the heads-up!
NP.

2 weeks ago it was inverse HS (H4). now weekly range almost vanished in just one day.
you know gbpaud.. the habits of sell the rally lol..


edit: oops just noticed you long the b**ch.. imo its not bottom yet.. good luck btw
  • #301,631
  • Feb 27, 2012 11:38am Feb 27, 2012 11:38am
chart update same chart different time..i think the sum bitch is a flag
Attached Image (click to enlarge)
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  • #301,632
  • Feb 27, 2012 11:39am Feb 27, 2012 11:39am
Quoting gsantri
NP.

2 weeks ago it was inverse HS (H4). now weekly range almost vanished in just one day.
you know gbpaud.. the habits of sell the rally lol..
Based the entry on the h1 demand level here...

Attached Image (click to enlarge)
Click to Enlarge Name: 120227_GBPAUD_h1.png Size: 35 KB


If it breaks, it will go down the h4 demand starting @1.4670
  • #301,633
  • Feb 27, 2012 11:42am Feb 27, 2012 11:42am
Quoting gsantri
NP.

2 weeks ago it was inverse HS (H4). now weekly range almost vanished in just one day.
you know gbpaud.. the habits of sell the rally lol..


edit: oops just noticed you long the b**ch.. imo its not bottom yet.. good luck btw
You could be right... it just broke the my support line but not hit my SL yet! Has now... that's why I kept it tight! Definitely worth keeping an eye on this though.
  • #301,634
  • Feb 27, 2012 11:52am Feb 27, 2012 11:52am
Quoting bbakker
You could be right... it just broke the my support line but not hit my SL yet! Has now... that's why I kept it tight! Definitely worth keeping an eye on this though.
will watch pa closely too. short target could be around 1.4640
my setup will comes from H4. entry M15
  • #301,635
  • Edited 12:06pm Feb 27, 2012 11:54am | Edited 12:06pm
Quoting bbakker
You could be right... it just broke the my support line but not hit my SL yet! Has now... that's why I kept it tight! Definitely worth keeping an eye on this though.

dont worry i think u may have nailed a second one

gbp flx retrace 50% and as far as i think support is good..usd is on the ropes as well so pound falling isnt to big an issue (i hope)
tommorow news is good for pound it should bounce here

gold is forming a pin towards north also
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart4.jpg Size: 71 KB
  • #301,636
  • Feb 27, 2012 12:07pm Feb 27, 2012 12:07pm
More pullback from recent 5898 Hi and even better developed 1hr hidden divergence as a 1hr pinbar develops at top of a previous 1hr swing hi zone (non immed) ie previous resistance. Not the best place in respect of intervening OPA (overall price action) from the 5898 hi for the hidden div to develop on 1hr - it coming at a LL on that t/f.

G/L
Attached Image(s) (click to enlarge)
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ex member
  • #301,637
  • Feb 27, 2012 12:29pm Feb 27, 2012 12:29pm
Quoting Donny_aw
I almost die... just a little equity left... Now trying to keep solvent. Now, is this still going north? Or already bearish and go south to 1.5270...?

Any analysis, please? Thanks...

donny
RED Flags.... !
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-27_Cable M15 RED Flags.jpg Size: 305 KB
Always looking the GREAT, never left GOOD Point...
  • #301,638
  • Feb 27, 2012 12:44pm Feb 27, 2012 12:44pm
Got a buy order @ 5813..

Trade hit, lets see what happens.
  • #301,639
  • Feb 27, 2012 1:07pm Feb 27, 2012 1:07pm
Quoting fx-rocket
Shorted @ 1.5872, Sl 1.5912,
1:st target 1.5670
2:nd target 1.5370
Stop moved to BE
Expect the unexpected.
  • #301,640
  • Feb 27, 2012 1:09pm Feb 27, 2012 1:09pm
Quoting gsantri
will watch pa closely too. short target could be around 1.4640
my setup will comes from H4. entry M15
It was a high-risk trade without confirmation, hence the tight SL and small exposure. I lost 0.1% of my account there, so no big deal.

It looked like a nice SS style trade on h1 with nice departure and arrival from the zone, but in this instance, it didn't quite work out.

Watching m5/m15 to see a base form and take it from there with no new LL. Here is a chart with a couple of lines of interest -

Attached Image (click to enlarge)
Click to Enlarge Name: 120227_GBPAUD_h1.png Size: 64 KB


I will go in a little bit heavier next time round. Patience is a virtue in this game!
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