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Cable Update (GBPUSD)

  • #303,821
  • Mar 15, 2012 3:53am Mar 15, 2012 3:53am
Quoting bguguen
Unless my charts are still bad..
GBPUSD is still trading inside the range of 2 trendlines....
attempted break but never broken... im waiting for a confirmed close below to call it a confirmed break... otherwise we're still gona see a zebra dancing around in GU....

Attachment
You are absolutely correct. Its forming a triangle at the moment and still has to break the upper TL to have an almost resistance free path to the north. If this is wave c, then it's quite common to have such a pattern at the end. Damned frustrating though.
  • #303,822
  • Mar 15, 2012 3:54am Mar 15, 2012 3:54am
Quoting Ill-b-back
Better luck at the casino if you ask me.
Scalpers will love it??
I'm placing a small long at the hour, unless price retreats significantly before.
Gone to a better place
  • #303,823
  • Mar 15, 2012 4:00am Mar 15, 2012 4:00am
Buy stop order above resistance at 1.5675
Gone to a better place
  • #303,824
  • Mar 15, 2012 4:00am Mar 15, 2012 4:00am
Quoting smikester
I'm placing a small long at the hour, unless price retreats significantly before.
Closed above the TL. Was a bloody battle to just get over.
  • #303,825
  • Mar 15, 2012 4:06am Mar 15, 2012 4:06am
Quoting smikester
Buy stop order above resistance at 1.5675
You can sometimes see why price accelerates out of swamp like this as traders who are thinking like me place orders. Once price runs into these it runs away.
Gone to a better place
  • #303,826
  • Mar 15, 2012 4:10am Mar 15, 2012 4:10am
Now its retreated too far for me to consider a trade. I'm flat.
Gone to a better place
  • #303,827
  • Mar 15, 2012 4:10am Mar 15, 2012 4:10am
Quoting smikester
I'm placing a small long at the hour, unless price retreats significantly before.
This hour?
I hate this as I usually just sit at charts to see how a strong profitable trade is travelling. I don't like sitting hear eating dinner watching PA.

My thinking if I just wanted to take things easier was to wait for a weekly close above 57 and strong resistance/support, off the current 50 retrace (5613 or so) then buy dips up past 5990.
I'm thinking if we close above 57 this day/week that would become a strong base again?
It just feels like it should and fits with the fib.
And above a favourite ema on the 4hour and daily.
Plan B, leave my sell stop.
Thanks for your help Smikester
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Come with me if you want to live....
  • #303,828
  • Mar 15, 2012 4:11am Mar 15, 2012 4:11am
G/M,

Bearish daily candle yesterday - dark cloud cover ?

Some downside follow thru so far today the low so far coming at the 75.4% 5601/85.4% 5619 moves to 5746 with daily S1 @/around just below @ 5630. 5635-75 is the intraday range so far.

Re opa ; 4hr and 1hr are mixed to bearish with Daily remaining Bearish-mixed.

Near-term current 1hr screenshot below.

G/L
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ex member
  • #303,829
  • Mar 15, 2012 4:12am Mar 15, 2012 4:12am
Just read 303827.
Seems we are on a SIMILAR page anyway
Come with me if you want to live....
  • #303,830
  • Mar 15, 2012 4:15am Mar 15, 2012 4:15am
Quoting Ill-b-back
Better luck at the casino if you ask me.
Scalpers will love it??
yup scalper in here

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I trade to live
  • #303,831
  • Mar 15, 2012 4:17am Mar 15, 2012 4:17am
Immediately Below the above mentioned 2 x fibs and the previous 1hr sw lo zone...as below

5630 Daily S1 @/around
[ 5625 region = ascending 4hr t/line coming thru on present 4hr candle
[ 5624-19 prev 4hr/1hr sw lo zone incl 5622= 85.4% 5601-5746
5612-00 prev minor 4hr/1hr sw lo zone incl 5612= 50% 5234-5991
5595 Weekly S1 @/around / 85.4% 5528-5991
5592 Daily S2 @/around
5554-29 prev 4hr sw lo x 2 zone incl 5536 = Daily S3 @/around
5523 61.8% 5234-5991
5518 Weekly S2 @/around
5504 Monthly S2 @/around
5498-85 prev dly/4hr sw hi zone (non immed)
5456-48 prev minor 4hr sw lo zone
5413 76.4% 5234-5991
5403-5384 prev 4hr sw hi x 2 zone
5364 Monthly S3 @/around
5344 85.4% 5234-5991
5331-20 prev 4hr sw lo zone
5298 Weekly S3 @/around
5275-60-37 (-34) prev Daily X2 /4hr X3 swing lo zone

G/L
　
　
　
　
　
　
　
ex member
  • #303,832
  • Mar 15, 2012 4:17am Mar 15, 2012 4:17am
Quoting UbuFamily
yup scalper in here

Attachment
Oh gosh bro. I got to leave Just kidding
email?
Come with me if you want to live....
  • #303,833
  • Mar 15, 2012 4:23am Mar 15, 2012 4:23am
scalping allowed...
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  • #303,834
  • Mar 15, 2012 4:24am Mar 15, 2012 4:24am
UK probably downgraded by FITCH?
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  • #303,835
  • Mar 15, 2012 4:24am Mar 15, 2012 4:24am
Quoting Ill-b-back
This hour?
I hate this as I usually just sit at charts to see how a strong profitable trade
Well you have your method of trading and I respect that. For me the Asia range seriously affects how I trade the London open. Today's Asia range was 40 pips and that's a bit too high - for London to make much of a break out when you consider the average daily range is only about 100 pips at the moment. It looked like an up day and now it's a down day so I leave it. That's what I do.
Gone to a better place
  • #303,836
  • Mar 15, 2012 4:28am Mar 15, 2012 4:28am
Let the scalpers have it. And there you go... London is a total FUBAR
Gone to a better place
  • #303,837
  • Mar 15, 2012 4:29am Mar 15, 2012 4:29am
Quoting smikester
Well you have your method of trading and I respect that. For me the Asia range seriously affects how I trade the London open. Today's Asia range was 40 pips and that's a bit too high - for London to make much of a break out when you consider the average daily range is only about 100 pips at the moment. It looked like an up day and now it's a down day so I leave it. That's what I do.

looking at the chart weekly..its a definite range...notice the doji type looking formation at a 50% retrace low to high swing points..we may range like this till end of weak..i wont be surprised to see this happening

pound strength is hindered by the arsehole who did the downgrade however USD is right a what i believe major resistance..this is why euro is gaining slightly
  • #303,838
  • Mar 15, 2012 4:33am Mar 15, 2012 4:33am
Quoting Ill-b-back
Oh gosh bro. I got to leave Just kidding
email?

ha ha...email? u mean skype? hey i'll post my performance after this so that to prove my winning percentage...hehe hoping to get some more vouch from they all
I trade to live
  • #303,839
  • Mar 15, 2012 4:33am Mar 15, 2012 4:33am
Quoting nAVIN2007
USD is right a what i believe major resistance..this is why euro is gaining slightly
You're right USD is at S/R level.
Gone to a better place
  • #303,840
  • Mar 15, 2012 4:33am Mar 15, 2012 4:33am
classic bullish div plays at the current low 1 and 5min - 1min below as eg.

G/L
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