Just talk!?!? Fall??!! Momentum!?!? something like that!?!?! Then "Bang" to the north almost 90 pips and by the way, I got my longs TPed.. remember those?!!?!
Sorry buddy!!
Cable Update (GBPUSD)
- #304,883
- Mar 23, 2012 8:07am Mar 23, 2012 8:07am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
this is why they call freaky friday mate.. i've long to see such move like today for quite some time..
by the way, watching closely fiber towards 3260 level.. i don't expect the price to move more than 3260, what a day.. best friday since a while..
must only read where is moving price.
it shows but is not easy to see.
IMO.... today.... GU EU and other things will destroy everything sitting between this range of 100-150 pips. then the big move will appear (up/down..?!)
the move down in GU from 5900 have not been so clear to me. simply filling orders. some one shorted 5900 and closed positions now near 5820-30.
be careful...... if for some reasons, new demand comes in gbp and euro, everything will take the space shuttle!
only an idea, since i'm not into any trade, and of course, the same thing can happen in the down direction
90% of traders use TA, indicators and prediction
- #304,884
- Mar 23, 2012 8:24am Mar 23, 2012 8:24am
- Joined Jan 2011 | Status: Trader | 1,560 Posts
I still need a trading break soon!!! "Loose some to win more" --Baher A.
- #304,886
- Mar 23, 2012 8:46am Mar 23, 2012 8:46am
- Joined May 2009 | Status: Trader | 4,895 Posts
to get things clear i think we need something else to compare. in this case i compare the swissy which relates to fiber & cable. if swissy trading above 38% fibo, above 9080 area.. i think upside for fiber and cable will be limited.
- #304,890
- Mar 23, 2012 10:50am Mar 23, 2012 10:50am
- Joined Jan 2011 | Status: Trader | 1,560 Posts
I still need a trading break soon!!! "Loose some to win more" --Baher A.
- #304,891
- Mar 23, 2012 12:31pm Mar 23, 2012 12:31pm
- Joined May 2010 | Status: Trader | 2,004 Posts
69
- #304,892
- Mar 23, 2012 1:07pm Mar 23, 2012 1:07pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Thanks for the charts. In a nutshell I would say those lines are not trend lines. They are not trend lines because the price can move a long way from them. To me a trend line follows the price to a tight fit a bit like a 20 or 30 sma. Ideally in a channel. Once the price leaves that area then the trend line is invalidated. It's up to the analyst whether to move it, or not.
So what are those lines if they are not trend lines? They form dynamic support and resistance areas which are only useful if they complete a picture for the trader in conjunction...
Come with me if you want to live....
- #304,893
- Mar 23, 2012 3:08pm Mar 23, 2012 3:08pm
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #304,894
- Mar 23, 2012 3:18pm Mar 23, 2012 3:18pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Have a good weekend everyone.....
Faller
u too buddy..damn it managed to remain where it is..market is crazy
anyways have a great weekend
- #304,895
- Mar 23, 2012 3:23pm Mar 23, 2012 3:23pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
for what i see.... 1.59 is going to exaustation of supply.
h4 chart
first touch: 250 pips down
second touch: 250 pips down but with penetration to 5990.
third touch: "ONLY" 150 pips. i say only because happened yesterday and there were a lot of reasons to tank everything a lot more than what really did.
i don't want to be too much biased, but next friday we close montly candle.
and actually weekly pattern suggest a lot of things, but more probable we see more up than again down.
if the chart below was an m15, i would go long now.
on the other side down:
i will have eyes on 5830 area at beginning of the week (actual weekly opening price). loosing it could mean a crash.
have a good week end
h4 chart
first touch: 250 pips down
second touch: 250 pips down but with penetration to 5990.
third touch: "ONLY" 150 pips. i say only because happened yesterday and there were a lot of reasons to tank everything a lot more than what really did.
i don't want to be too much biased, but next friday we close montly candle.
and actually weekly pattern suggest a lot of things, but more probable we see more up than again down.
if the chart below was an m15, i would go long now.
on the other side down:
i will have eyes on 5830 area at beginning of the week (actual weekly opening price). loosing it could mean a crash.
have a good week end
90% of traders use TA, indicators and prediction
- #304,896
- Mar 23, 2012 4:04pm Mar 23, 2012 4:04pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
And this is a very valid point, and why I normally submit charts and focus more on Guppy profiles, fib zones and obvious S/R levels - which one can always 'fit' a TL to.
It is an interesting exercise to plot fibs, and then with a wanted TL on a monthly/weekly, zoom in on a 4hr and see how often a moved - for IBBs comment - is hit by
price. It is a function of zones, more than TL lines, for me.
Come with me if you want to live....
- #304,897
- Mar 23, 2012 4:05pm Mar 23, 2012 4:05pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
for what i see.... 1.59 is going to exaustation of supply.
h4 chart
first touch: 250 pips down
second touch: 250 pips down but with penetration to 5990.
third touch: "ONLY" 150 pips. i say only because happened yesterday and there were a lot of reasons to tank everything a lot more than what really did.
i don't want to be too much biased, but next friday we close montly candle.
and actually weekly pattern suggest a lot of things, but more probable we see more up than again down.
if the chart below was an m15, i would go long now.
on the other...
market may be relieving the diverence build up..the higher it stays the better..i cannot see it crashing..im glad with the figure on the pound thats its remain this high..next month stand a chance to improve..anyways anything is possible
- #304,898
- Mar 24, 2012 5:53am Mar 24, 2012 5:53am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
market may be relieving the diverence build up..the higher it stays the better..i cannot see it crashing..im glad with the figure on the pound thats its remain this high..next month stand a chance to improve..anyways anything is possible
of course, we are in supply area until broken, so another move down can happen... problem is: will a move down happen from area 1.59 again or from 1.6080? ehehhe
time will tell!
90% of traders use TA, indicators and prediction
- #304,899
- Mar 24, 2012 7:14am Mar 24, 2012 7:14am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
yes there are actually good reasons to think price will stay high and close montly bullish candle.
of course, we are in supply area until broken, so another move down can happen... problem is: will a move down happen from area 1.59 again or from 1.6080? ehehhe
time will tell!
1.59 is the quarterly low of the pin which broke to the downside..this is why it is respected..anything above this point is pure bull
if new quarterly close above it (1.59) im flying
- #304,900
- Mar 24, 2012 8:26am Mar 24, 2012 8:26am
1.59 is the quarterly low of the pin which broke to the downside..this is why it is respected..anything above this point is pure bull
if new quarterly close above it (1.59) im flying
thanks