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Cable Update (GBPUSD)

  • #303,881
  • Mar 15, 2012 4:15am Mar 15, 2012 4:15am
5min triangle thingy going on ?

G/L
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ex member
  • #303,882
  • Mar 15, 2012 4:17am Mar 15, 2012 4:17am
has anybody seen this pattern before??
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  • #303,883
  • Mar 15, 2012 4:22am Mar 15, 2012 4:22am
Quoting Cerber.bf2
has anybody seen this pattern before??
looks familiar some sort of diamond pattern, though i dont quite remember the last time this happened if it was a continuation or a reversal....
We live in a finite world with infinite possibilities.
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  • #303,884
  • Mar 15, 2012 4:23am Mar 15, 2012 4:23am
Quoting A-speculator
yups, since we currently seeing quite a pullback in swissy and eurgbp, which will bring more upside to fiber, perhaps we might have a pullback also in cable.. i'm not suggesting anything here but there's an old saying that if you're unsure, better stop trading.. but i'll take chances to long after TPed at 5645.. if that's area breaks, i'm gonna call it a week.. don't chase the price mate, always remember that, better to have missed the train rather than to be in the wrong train..
or as is sometimes the case with me, get run over by the train cause I'm looking the wrong way
To be honest though, those stop orders may look good. I like my descending channel just above the orders. If the channel goes, I think there is a very good chance price will to.
I keep changing my mind.
Also, something I saw to the left also in the grey cloud, maybe too long ago, who knows.

Thank you very much for you concern though seriously, love this place.
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Come with me if you want to live....
  • #303,885
  • Mar 15, 2012 4:23am Mar 15, 2012 4:23am
Quoting Ill-b-back
5633 or so if wantig to get in early?
Yes it sounds like a plan. I would be looking at the M15 or M30 charts at that level though, and tight stops. Sorry. You should probably be in bed if it happens.
Gone to a better place
  • #303,886
  • Mar 15, 2012 4:24am Mar 15, 2012 4:24am
Quoting bguguen
looks familiar some sort of diamond pattern, though i dont quite remember the last time this happened if it was a continuation or a reversal....
it's not saying anything unless it breaks certain point.. but to me entry long atm has a high probability and low r/r ratio if entered at 5645 and stops just below 4h lowest point at about 5625..
  • #303,887
  • Mar 15, 2012 4:26am Mar 15, 2012 4:26am
Quoting Cerber.bf2
has anybody seen this pattern before??
Kind of looks like a millipead in serious need of a chiropractor...
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Come with me if you want to live....
  • #303,888
  • Mar 15, 2012 4:28am Mar 15, 2012 4:28am
I bet everyone caught that long spike! Right?!?!?!?!
I don't trust any move - when you have profit...take it.
  • #303,889
  • Mar 15, 2012 4:28am Mar 15, 2012 4:28am
Quoting Ill-b-back
Kind of looks like a millipead in serious need of a chiropractor...

Yes, a diamond shaped millipede
  • #303,890
  • Mar 15, 2012 4:28am Mar 15, 2012 4:28am
Quoting Ill-b-back
or as is sometimes the case with me, get run over by the train cause I'm looking the wrong way
To be honest though, those stop orders may look good. I like my descending channel just above the orders. If the channel goes, I think there is a very good chance price will to.
I keep changing my mind.
Also, something I saw to the left also in the grey cloud, maybe too long ago, who knows.

Thank you very much for you concern though seriously, love this place.
there's one thing you haven't considered tho.. usually before it turns, the price will make last extreme lows/highs which usually called a shakeout for weak bulls/bears.. which i think that where you see the low point on your chart.. WD Gann says that don't short/long on the second lows.. it just might be a shakeouts.. imho..
  • #303,891
  • Mar 15, 2012 4:37am Mar 15, 2012 4:37am
Quoting A-speculator
there's one thing you haven't considered tho.. usually before it turns, the price will make last extreme lows/highs which usually called a shakeout for weak bulls/bears.. which i think that where you see the low point on your chart.. WD Gann says that don't short/long on the second lows.. it just might be a shakeouts.. imho..
Yeah ok, cool thx dude. PA poor for either bull or bear.
Closed out. If it drops though, I'll, come after you

I will try really hard never to use Stop orders regardless of what I fear I will miss. They go against my grain and I do feel nervous when placing them.
Cheers again.
Come with me if you want to live....
  • #303,892
  • Mar 15, 2012 4:41am Mar 15, 2012 4:41am
price challenging area of current daily hi again/38.2% 5746-current daily lo...1hr shows potential obstacles to the upside. Daily R1 @/around 5723 and before that 5686 = DP @/around.

G/L
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ex member
  • #303,893
  • Mar 15, 2012 4:44am Mar 15, 2012 4:44am
Quoting Faller
I bet everyone caught that long spike! Right?!?!?!?!
PT told me the other day to watch 5681.
I can see why.
Off to bed, good luck all.
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  • #303,894
  • Mar 15, 2012 4:49am Mar 15, 2012 4:49am
Quoting Ill-b-back
Yeah ok, cool thx dude. PA poor for either bull or bear.
Closed out. If it drops though, I'll, come after you

I will try really hard never to use Stop orders regardless of what I fear I will miss. They go against my grain and I do feel nervous when placing them.
Cheers again.
Man alive! I use stop orders for nearly every trade. That's part of my (successful) strategy. Use your own strategy. Don't change it because someone tells you to. Unless you don't have a strategy? Then you're dead...
Gone to a better place
  • #303,895
  • Mar 15, 2012 4:53am Mar 15, 2012 4:53am
Quoting Faller
I bet everyone caught that long spike! Right?!?!?!?!
i don't think it's just a spike, mate.. perhaps we might have a major retracement to gain enough momentum to break down.. imho
  • #303,896
  • Mar 15, 2012 5:01am Mar 15, 2012 5:01am
Quoting smikester
Man alive! I use stop orders for nearly every trade. That's part of my (successful) strategy. Use your own strategy. Don't change it because someone tells you to. Unless you don't have a strategy? Then you're dead...
Hi Smikester, what I have been trying to say all day is that stop orders are not a part of my strategy, I prefer peaks and troughs, so I am sticking to my strategy by removing them. I just get tempted every so often when I see a trend continuing (usually when I have jumped off a profitable TL swing trade early). Seriously, I do get nervous with stop orders and i almost NEVER use them, my swing trade success rate is high and the R/R is great, my stumbling block has always been patience to wait for another set up, hence the occassional temptation to use stop orders which go against my logic/grain. Just mine though bro, we all see different things in charts and trade what suits us best so not judging those who use them.
Come with me if you want to live....
  • #303,897
  • Mar 15, 2012 5:03am Mar 15, 2012 5:03am
Quoting Ill-b-back
Hi Smikester, what I have been trying to say all day is that stop orders are not a part of my strategy

OK. Sorry.
Gone to a better place
  • #303,898
  • Mar 15, 2012 5:05am Mar 15, 2012 5:05am
..no comment..just looak at chart
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Revenge of Scalper
  • #303,899
  • Mar 15, 2012 5:05am Mar 15, 2012 5:05am
And we've dropped back in range... this is really painful to watch... patience bryan... patience... ugh...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,900
  • Mar 15, 2012 5:08am Mar 15, 2012 5:08am
Now, it's attempting to break 5700. Since we have inside bar, we will probably break this range soon. I will not surprised if it keeps going like this for few days though, as many people already said in this thread GBP is cooking something.
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