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Cable Update (GBPUSD)

  • #312,701
  • May 11, 2012 5:41am May 11, 2012 5:41am
Quoting bbmac
Looking 150pips or so to the downside of current price:

6096 Daily S1 @/around
6095 area ascending 4hr trend line coming thru on current 4hr candle
6095-90 4hr/1hr sw lo zone incl 6095= 76.4% 6068-6181 6090 =Weekly S1 @/around
6085-79 prev 1hr sw lo zone incl 6085=85.4% 6068-6181
[ 6083-76-68 prev minor Daily/4hr/1hr sw lo zone
[ 6071-57 prev minor 4hr sw hi zone
[ 6058-48= 3 fib cluster
[ 6055-24 prev minor weekly/Daily sw hi zone (non immed) incl 6046 = Daily S2 @/around, 6045-36 = prev 4hr sw lo zone, and 6035 = Weekly S2 and...

Very possible - all of my charts that I look at show downward pressure - however, what concerns me is when I look at the 4 hour chart and see that huge bull bar that has now been retraced - there is lots of support around that 1.6075ish area - Won't be around for the morning as I have some things to take care of - so my preference would be for you guys to keep buying at these levels to hold price until I get back! Happy Pipping Today.
I don't trust any move - when you have profit...take it.
  • #312,702
  • May 11, 2012 5:48am May 11, 2012 5:48am
I think (hope) there will be a big movement under 1,6090. Waiting for new weekly low. Then put my stop loss to zero. Target 1.6008.Maybe after 14:30...
"Study the past if you would define the future." Confucius
  • #312,703
  • May 11, 2012 5:51am May 11, 2012 5:51am
..
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  • #312,704
  • May 11, 2012 5:52am May 11, 2012 5:52am
Quoting littlemole
I think (hope) there will be a big movement under 1,6090. Waiting for new weekly low. Then put my stop loss to zero. Target 1.6008.Maybe after 14:30...
What are you basing this on?
Show Me Your Pips!!!
  • #312,705
  • May 11, 2012 5:58am May 11, 2012 5:58am
Quoting littlemole
I think (hope) there will be a big movement under 1,6090. Waiting for new weekly low. Then put my stop loss to zero. Target 1.6008.Maybe after 14:30...
cable takes 2 weeks to move from 5800 to 6300 = ~500 pips and it takes 2 weeks to move from 6300 - 6060 = ~240 pips. it more or less achieved 50% in the same time period.

that means cable may have completed the retracement. imho.
  • #312,706
  • May 11, 2012 5:59am May 11, 2012 5:59am
Do I keep my hat?
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Come with me if you want to live....
  • #312,707
  • May 11, 2012 6:01am May 11, 2012 6:01am
what the fec - happened? - gonna read your blogs now ..
  • #312,708
  • May 11, 2012 6:04am May 11, 2012 6:04am
Quoting Ill-b-back
Do I keep my hat?
oh no..
  • #312,709
  • May 11, 2012 6:07am May 11, 2012 6:07am
Quoting Ill-b-back
You need to stick to demo mate. Try asking nAV, NO WAIT, ask someone else, nAVs probably forgotten how
  • #312,710
  • May 11, 2012 6:09am May 11, 2012 6:09am
Quoting Flatfish
data all available over at Oanda, if you know how to read it combined with price action.
hey mate, i want to say thank you. i did use your strategy (reverse trading with most retail traders in oanda) and it worked for me today

i used it when EU was at 1.2920 about 9-10 hours ago and i went long to 1.2950 i dont know if it's just lucky though!

i will use it as a daily reference from now on hehehe
  • #312,711
  • May 11, 2012 6:12am May 11, 2012 6:12am
Quoting A-speculator
cable takes 2 weeks to move from 5800 to 6300 = ~500 pips and it takes 2 weeks to move from 6300 - 6060 = ~240 pips. it more or less achieved 50% in the same time period.

that means cable may have completed the retracement. imho.

usd has been rising very good..but cable is holding its ground..i was worried abt weekly and the potential fall in mind,..it could have so easy fell like rock..towards 1.660 but its acted like an retracement

not bad

as usual depends on USD breaking trend..if this happens it likely cable will fall regardless
  • #312,712
  • May 11, 2012 6:15am May 11, 2012 6:15am
It's lovely how cable slowly dropping and Oandas long position ratio is increasing
.
  • #312,713
  • May 11, 2012 6:15am May 11, 2012 6:15am
Quoting nAVIN2007
usd has been rising very good..but cable is holding its ground..i was worried abt weekly and the potential fall in mind,..it could have so easy fell like rock..towards 1.660 but its acted like an retracement

not bad

as usual depends on USD breaking trend..if this happens it likely cable will fall regardless
i don't know mate.. i see cable is moving sideways and not worth trading for the time being.. unless scalping the move..
  • #312,714
  • May 11, 2012 6:16am May 11, 2012 6:16am
Quoting rsg10z
hey mate, i want to say thank you. i did use your strategy (reverse trading with most retail traders in oanda) and it worked for me today

i used it when EU was at 1.2920 about 9-10 hours ago and i went long to 1.2950 i dont know if it's just lucky though!

i will use it as a daily reference from now on hehehe
nice trade bro....
  • #312,715
  • May 11, 2012 6:20am May 11, 2012 6:20am
i made two trades this week, my system told me to stay the fuck out, so im gonna enjoy the weekend, mabe il head down to the hamptons
  • #312,716
  • May 11, 2012 6:22am May 11, 2012 6:22am
Quoting PoundTrader
i made two trades this week, my system told me to stay the fuck out, so im gonna enjoy the weekend, mabe il head down to the hamptons
as long as you're in green, everything will be fine..

have a nice weekend mate..
  • #312,717
  • May 11, 2012 6:24am May 11, 2012 6:24am
Quoting A-speculator
i don't know mate.. i see cable is moving sideways and not worth trading for the time being.. unless scalping the move..

potentail for a weekly doiji here is a quite possible..i agree..
not worth the pain..this is definately a scalper market
  • #312,718
  • May 11, 2012 6:26am May 11, 2012 6:26am
Quoting nAVIN2007
potentail for a weekly doiji here is a quite possible..i agree..
not worth the pain..this is definately a scalper market

Nav the reaction after BoE is not convincing enough. I sold yesterday overnite at 1.6162 and got out today with 50 pips profit 1.6110.

Will like to short it on rallies now.
  • #312,719
  • May 11, 2012 6:27am May 11, 2012 6:27am
Quoting nAVIN2007
potentail for a weekly doiji here is a quite possible..i agree..
not worth the pain..this is definately a scalper market
yeah, perhaps by us open, cable might get up to about 6200 then back down then ding dong ding dong for i don't know how long..

such a pain in the a$$.. lol.. better look into other pairs imho.
  • #312,720
  • May 11, 2012 6:35am May 11, 2012 6:35am
2 candle down..1 candle up...3 candle down..3 candle up... this is boring... looking for other pair to trade..
Trade what you see. Write what you feel
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