Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#314,221
May 22, 2012 4:31am May 22, 2012 4:31am

Snarkalarker
| Joined Feb 2012 | Status: Trader | 157 Posts

Quoting Nachiket

Disliked

sl? undecided. what if the gbp tanks 100 pips today. whats ur risk level?

Ignored

I will be asleep in about 5 hours and I will not be taking anywhere close to a 100 Pip loss on this. I will most definitely have a SL in place before I crash.

For now I am still just watching the chart. I will admit that the drop has been meaningful.

If it gets down around 1.5750 or so I will exit and sleep just fine.

#314,222
Edited 4:51am May 22, 2012 4:45am | Edited 4:51am

TerpFan2
| Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts

Well,

-As we all know, it's the Market that's truly right, but BBMAC,
has laid it all out,
-(again), as has the market herself...

I BELIEVE, we are in wave 5 on the day-chart, back DOWN.
-(I'd like it to be wave 5-of-7 waves!), but hey, begger's can't always be chooser's!

However, -LOOk @the Monthly Candle, and you'll see "Go Away in May", will surely lead to a June, Down-Side Candle, -@least hopefully attempting to play w/that 1.5200 low.

My target-NO! But, you gotta know the 'bigger game, so you don't get bit-up,
-(Like I DID last week, on a couple "PA"/(Price Action Bad Entries)! Like everyone "Longing" on a retrace of a 'Down-Trend' @1.5840's.

-Here's my Crude Chart, For whoever care's... !
Best of Pipping Gang,

Jeff

Attached Image (click to enlarge)

Click to Enlarge

Name: 5_22_2012 GBP_USD Possible Wave 5 Started.jpg
Size: 168 KB

I will work to Objectively Identify my Edges

#314,223
May 22, 2012 4:50am May 22, 2012 4:50am

Flynchenberg
| Commercial User | Joined Feb 2011 | 2,208 Posts

Quoting TerpFan2

Disliked

Well,

-As we all know, it's the Market that's truly right, but BBMAC,
has laid it all out, -(again) as has the market herself...

I BELIEVE, we are in wave 5 on the day-chart, back DOWN.
-(I'd like it to be wave 5-of-7 waves!), but hey, begger's can't always be chooser's!

However, -LOOk @the Monthly Candle, and you'll see "Go Away in May", will surely lead to a June, @least hopefully attempting to play w/that 1.5200 low.

My target-NO! But, you gotta know the 'bigger game, so you don't get bit-up,
-(Like I DID last week, on a couple...

Ignored

Great job mate...

#314,224
May 22, 2012 4:57am May 22, 2012 4:57am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting aarash

Disliked

That's a good questionnn!

Ignored

seems like that's will be the last we see 5840 area.. oh well..

#314,225
May 22, 2012 5:05am May 22, 2012 5:05am

TerpFan2
| Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts

I really wanted to post my "pip-gain",
and "brag", (Like a complete idiot, -no doubt),
but @the same time you also know money is fleeting & can,
"Fly away like wings on an Eagle" ...

Esp. when you or -in this case, ME/ "I" begin to brag like an idiot!

Funny how 'was just doing a devotional last night w/the family,
about: Instead of Boasting/Bragging, rather...
Paul... "Boasted in his weaknesses", so as to gain strength's...
ie: I guess in our humility we can relate w/other's & then be an encouragement, and "impact".

-It is fun, when you see how things are working out though in 'market.
-Looking for a "Re-Tag" & Hopeful Break of today's 1.5765 "LoW".
Again, Much Thank's Mate,

Jeff

I will work to Objectively Identify my Edges

#314,226
May 22, 2012 5:10am May 22, 2012 5:10am

Snarkalarker
| Joined Feb 2012 | Status: Trader | 157 Posts

Quoting A-speculator

Disliked

seems like that's will be the last we see 5840 area.. oh well..

Ignored

Are you serious?

Damn it was only a couple of weeks ago I heard people saying it will be a spell before we see sub 1.60 again.

Patience.

#314,227
May 22, 2012 5:15am May 22, 2012 5:15am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Watching this pair some days, I'm tricked into thinking I have lost Internet connection. Has no one any faith in 56?

Come with me if you want to live....

#314,228
May 22, 2012 5:17am May 22, 2012 5:17am

tunera
| Commercial User | Joined Sep 2005 | 2,784 Posts

Quoting Ill-b-back

Disliked

Watching this pair some days, I'm tricked into think I have lost Internet connection. Has no one any faith in 56?

Ignored

If the trend continue it is the next support (56), however must be very careful on the retest of 5730, as a double bottom may be formed.

#314,229
May 22, 2012 5:22am May 22, 2012 5:22am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting tunera

Disliked

If the trend continue it is the next support (56), however must be very careful on the retest of 5730, as a double bottom may be formed.

Ignored

This pair used to be so exciting, on many days now it's like watching Days of Our Lives

Come with me if you want to live....

#314,230
May 22, 2012 5:29am May 22, 2012 5:29am

tunera
| Commercial User | Joined Sep 2005 | 2,784 Posts

Quoting Ill-b-back

Disliked

This pair used to be so exciting, on many days now it's like watching Days of Our Lives

Ignored

Yes it used to be a heavily traded pair, now looks like a synthetic pair, it just depend on what eurusd and eurgbp does, i see gbpusd is not very easy pair to trade IMO.

#314,231
May 22, 2012 5:33am May 22, 2012 5:33am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting Snarkalarker

Disliked

Are you serious?

Damn it was only a couple of weeks ago I heard people saying it will be a spell before we see sub 1.60 again.

Patience.

Ignored

as long as price don't get above the hammer high, we won't see any higher price imho...

#314,232
May 22, 2012 5:44am May 22, 2012 5:44am

Snarkalarker
| Joined Feb 2012 | Status: Trader | 157 Posts

Quoting A-speculator

Disliked

as long as price don't get above the hammer high, we won't see any higher price imho...

Ignored

That goes without saying. Of course not.

#314,233
May 22, 2012 5:46am May 22, 2012 5:46am

16Nov16
| Joined Sep 2011 | Status: Trader | 58 Posts

Cable trading in a channel between 1.5840 & 1.5780 since last Friday morning - quite a wide channel at 60 pips.

Failed breakout at 1.5840 and now gone through 1.5780. More importantly, trading in a very tight range (1.5785 and 1.5765) since breaking 1.5780. My experience is that this means that there will be a big push down, in the direction of the break.

There is a down trend on the 1-min t/f (sorry, can't post charts) which suggests a bounce off 1.5780 at 12pm or so.

I lost 20 pips at 10am, between 1.5795 and 1.5775. Will now put in a Sell for 1.5780 (s/l at 1.58) and see where Cable goes today.

(One thing: 1.5730 remains a strong S/R; again, however, I hate trading at this S/R line, as when I think it will hold, it breaks, and when I think it will break, it holds. Will swallow my fear and trade, however, at the aforementioned points.)

#314,234
May 22, 2012 6:52am May 22, 2012 6:52am

16Nov16
| Joined Sep 2011 | Status: Trader | 58 Posts

Quoting 16Nov16

Disliked

Cable trading in a channel between 1.5840 & 1.5780 since last Friday morning - quite a wide channel at 60 pips.

Failed breakout at 1.5840 and now gone through 1.5780. More importantly, trading in a very tight range (1.5785 and 1.5765) since breaking 1.5780. My experience is that this means that there will be a big push down, in the direction of the break.

There is a down trend on the 1-min t/f (sorry, can't post charts) which suggests a bounce off 1.5780 at 12pm or so.

I lost 20 pips at 10am, between 1.5795 and 1.5775. Will now put in...

Ignored

I placed a sell order at 1.5780 and have re-couped my loss from earlier this AM. Have left a small order in place, but have moved S/L to 1.5790, as PA not moving down as quickly as I would like.

#314,235
May 22, 2012 6:59am May 22, 2012 6:59am

fxtyrant
Joined Jan 2010 | Status: Trader | 10,268 Posts

Quoting Nachiket

Disliked

kid you are playing far too short on gbp. donno forget it is the only one which has retained AAA rating.

Ignored

Mate in this world of trading theres no nonsense like the one you said... No one can be too far shor or too far long...
In fact i was just reading the charts and i did say last week 1.5820 was the level to watch.... Then i think my latest post said "i got a po to short gbpusd at 1.5950 if it ever gets there" now despite my attitude towards allowing gbpusd to retrace 1.5950 is already seen as not a possible retrace level... In fact uk just died today.... And buddy... I live in uk so i know the shit going on here and its far worse than you think... Sooner or later uk is gona lose their aaa credit rating....
Just like the us political situation
You got a tory pm and a friggin labour council... How the fuck can an economy work well??
Mervyn king also saw chances of uk to deploy qe a week ago... And i called that action 2 month back when everyone was bullish
Now how the fuck did i do that???

We live in a finite world with infinite possibilities.

FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%

#314,236
May 22, 2012 7:26am May 22, 2012 7:26am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Well, poor US figures last week, so it only makes sense well get good figures this week the way news goes lately, that should give us more down pressure...

Come with me if you want to live....