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Cable Update (GBPUSD)

  • #304,381
  • Mar 21, 2012 4:52am Mar 21, 2012 4:52am
that was a shocking thunder for sure
I trade to live
  • #304,382
  • Mar 21, 2012 4:56am Mar 21, 2012 4:56am
Quoting UbuFamily
that was a shocking thunder for sure

could drop 200 pips from here....
I don't trust any move - when you have profit...take it.
  • #304,383
  • Mar 21, 2012 4:57am Mar 21, 2012 4:57am
fifty fib there on weekly at the high

Attached Image
  • #304,384
  • Mar 21, 2012 5:05am Mar 21, 2012 5:05am
Quoting nAVIN2007
i working of a bigger picture..yearly and quarterly time frames so i dont expect it to happen quick..if at all it even happens on the quarterly i see a traingle (potential bear flag)..i trading it to touch top line which is approx 1.65
well, that's quite a positioning mate, i can't comment on it since it's not my cup of tea in terms of trading method. What i can see that, upside in monthly atm is limited to a cluster resistance of 1.73 area. i don't know when it will get there or if it will ever get there this year..

i don't trade for that long mate, the reason is: i calculate my profit based on time to archive my target. Meaning that, if i get 10% per month, it is better than i get 10% per year, and not to mention if i compounded the profit for the year. With that said, i try my best to be as flexible as i can to trade the wave in terms of short to mid term basis only, meaning that i can be bearish or bullish where i see fits.
  • #304,385
  • Mar 21, 2012 5:05am Mar 21, 2012 5:05am
Quoting nAVIN2007
i working of a bigger picture..yearly and quarterly time frames so i dont expect it to happen quick..if at all it even happens on the quarterly i see a traingle (potential bear flag)..i trading it to touch top line which is approx 1.65
Holding a poor position for as long as you have reduces your margin and distracts from trading because you are committed. I truly hope it works out for you, but I think you are doing the wrong thing. You could be enjoying your trading.
Gone to a better place
  • #304,386
  • Mar 21, 2012 5:06am Mar 21, 2012 5:06am
Quoting Faller
could drop 200 pips from here....
after breaking 1.6 right?
I trade to live
  • #304,387
  • Mar 21, 2012 5:07am Mar 21, 2012 5:07am
looking to reload the short on the retrace, looks like 5870 is a good point
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  • #304,388
  • Mar 21, 2012 5:09am Mar 21, 2012 5:09am
Quoting smikester
Holding a poor position for as long as you have reduces your margin and distracts from trading because you are committed. I truly hope it works out for you, but I think you are doing the wrong thing. You could be enjoying your trading.

I might not be enjoying..but i am working everyday except tuesday..so i would be trading like this anyway..even if i wasnt in this trade..this trade isnt any different to any other trade i have had other than the target are much bigger..I am not bothered in the slightest about time duration..i dont even know how long i have been in the trade because its not really an issue for me


I find it had to short because it goes against what i think..this is the only issue..if there is one
  • #304,389
  • Mar 21, 2012 5:11am Mar 21, 2012 5:11am
G/M,

Bearish daily candle yesterday (very subdues pip range < 20 day atr) with some upside early today see-ing some supply come in at the descending weekly/monthly trend line (5922 the current daily hi.) Pullback lo is at/around the 85.4% fib of the 5829-5922/23.6% 5601-5922 moves .

4hr remains in a general opa uptrend (overall price action) Daily mixed-bullish and 1hr is mixed, with intraday mixed also.

That last 1hr candle bearishly engulfed the last 15 candle bodies on the same t/f.

Uk Annual Govt budget speech later.

G/L
ex member
  • #304,390
  • Mar 21, 2012 5:13am Mar 21, 2012 5:13am
Quoting Cerber.bf2
looking to reload the short on the retrace, looks like 5870 is a good point
oh.. hopefully it can gets to 5880..
  • #304,391
  • Mar 21, 2012 5:15am Mar 21, 2012 5:15am
Quoting A-speculator
oh.. hopefully it can gets to 5880..
covering at yesterday low of 5830 to be safe. There are bunch of news today, one more on gbp as well. anything can happen.
  • #304,392
  • Mar 21, 2012 5:16am Mar 21, 2012 5:16am
Quoting A-speculator
oh.. hopefully it can gets to 5880..
How would you handle this, as a matter of interest? For me, a retrace to 38.2 then a close below on say M15 would see me tempted.
Gone to a better place
  • #304,393
  • Mar 21, 2012 5:17am Mar 21, 2012 5:17am
Quoting Cerber.bf2
covering at yesterday low of 5830 to be safe. There are bunch of news today, one more on gbp as well. anything can happen.
i want to get in at that price level.. hopefully it can get there today, or else i have to wait for breakout retest of 5840..
  • #304,394
  • Mar 21, 2012 5:18am Mar 21, 2012 5:18am
Quoting smikester
How would you handle this, as a matter of interest? For me, a retrace to 38.2 then a close below on say M15 would see me tempted.
i'm sorry mate, i don't follow.. what are you asking me about? is it why i choose the price for my entry?
  • #304,395
  • Mar 21, 2012 5:23am Mar 21, 2012 5:23am
Price seems to be stopping on the 38.2 fib level, which also happens to be the daily central pivot. Possibility for shorts here for the bold.
  • #304,396
  • Mar 21, 2012 5:25am Mar 21, 2012 5:25am
above current price the unbreeched fibs of the fall from 5922 to 5842 (today's current hi-lo) and then:

[ 5913-22 prev 1hr sw hi zone incl 5918 85.4% 5974-5601
[ 5920-25 descending weekly t/line coming thru on this present daily candle
5931 = Weekly R1 @/around
5933 = 85.4% 5991-5601
[ 5958-65-74 prev 4hr swi hi zone incl 5958 = Daily R3 @/around
[ 5960-70 descending daily t/line coming thru on this presentdaily candle
5976-91 prev Daily/4hr sw hi zone incl 5986/89 2 x fibs incl 50% 6746-5234
5999 85.4% 6130-5234
6025 Weekly R2 @/around
6030 85.4% 6165-5234
6059 Monthly R1 @/around
6073-92 incl 6087 = 61.8% 6617-5234
6103-15-30 prev Dly/4hr sw hi zone
6136-65 prev Wkly/Dly sw hi zone incl 6163 = 76.4% 6454-5234
6167 61.8% 6746-5234
6179-6206 prev minor Daily sw lo hi zone incl 6198 = Monthly R2 @/around
6250-75 prev Daily minor sw lo zone (non immed) with 6275 = 85.4% 6454-5234
6284 Weekly R3
6287 76.4% 6617-5234

Below current price per current 1hr screenshot below..not shown here the unbreeched fibs of the moves up to 5922 from 5601 and 5633 or the daily Pivots - Daily S1 @/around 5827, Daily S2 @/around 5796, Daily S3 @/around 5762.

G/L
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ex member
  • #304,397
  • Mar 21, 2012 5:28am Mar 21, 2012 5:28am
Quoting A-speculator
i'm sorry mate, i don't follow.. what are you asking me about? is it why i choose the price for my entry?
Yes, but it's OK. Here's an M15 chart. Resistance spikies at 38.2. A bearish M15 candle now and I'll add.

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Gone to a better place
  • #304,398
  • Mar 21, 2012 5:30am Mar 21, 2012 5:30am
seriously messed up.
Goodnight
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Come with me if you want to live....
  • #304,399
  • Mar 21, 2012 5:32am Mar 21, 2012 5:32am
Quoting smikester
Yes, but it's OK. Here's an M15 chart. Resistance spikies at 38.2. A bearish M15 candle now and I'll add.

Attachment
the reason i choose that price because it is about 61% fibo from the 5840-5900 range.. i would like to have my position close to the point which will invalidate my analysis. I assure you that by doing so, i miss quite a lot of good trade also..
  • #304,400
  • Mar 21, 2012 5:33am Mar 21, 2012 5:33am
caution: one 1hr bearish candle - does not a downtrend/overall bearish scenario make !! The overall price action situation remains bullish overall (until pa begins top tell us otherwise) despite this 1hr candle ? If anything 1hr is somewhat mixed and rangy between 5922-5818, 4hr looks more bullish ?

G/L
ex member
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