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Cable Update (GBPUSD)

  • #314,721
  • May 25, 2012 7:09am May 25, 2012 7:09am
Quoting oathbreaker
Long pin bar(downward direction) formed in 1-hour chart..take a look guys...

Bearish....just keep your eyes open for next 4-hours there might be a big move.
possible but i'm really unable to open shorts at these levels.
i prefer get stopped @Be in my long and wait something better.
90% of traders use TA, indicators and prediction
  • #314,722
  • May 25, 2012 7:16am May 25, 2012 7:16am
evening star

Take it
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h1 18-5trade 2.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,723
  • May 25, 2012 7:21am May 25, 2012 7:21am
Quoting _BBKing_
possible but i'm really unable to open shorts at these levels.
i prefer get stopped @Be in my long and wait something better.
Hmmm...price is retracing back to open of the candle in daily time frame..If the trend is upward i don't think price will be coming back...

I shorted one more leg we will see what happens...

As long as i am in the trend,i will be paid or else die at b/e or very less amount of money is spent on the leg.

Let us see what happens...My bias is downward....
I am a hunter...i kill both bulls and bears...
  • #314,724
  • May 25, 2012 7:23am May 25, 2012 7:23am
Quoting oathbreaker
Long pin bar(downward direction) formed in 1-hour chart..take a look guys...

Bearish....just keep your eyes open for next 4-hours there might be a big move.
5720 before the down I suspect

back where we were around march (if I am reading the chart on my phone correctly) If there is to be a push further down, it wouldnt surprise me if there was another spike up first.
  • #314,725
  • May 25, 2012 7:28am May 25, 2012 7:28am
Quoting oathbreaker
Hmmm...price is retracing back to open of the candle in daily time frame..If the trend is upward i don't think price will be coming back...

I shorted one more leg we will see what happens...

As long as i am in the trend,i will be paid or else die at b/e or very less amount of money is spent on the leg.

Let us see what happens...My bias is downward....
yes still strong down pressure. rejection at 5700 have been clear.
but since i'm not already in short from higher levels, i prefer wait and stay out.
i never base my trades in a candle.
but it's just me.
90% of traders use TA, indicators and prediction
  • #314,726
  • May 25, 2012 7:29am May 25, 2012 7:29am
ok position closed @be.
will wait something more to happen.

good luck everybody
90% of traders use TA, indicators and prediction
  • #314,727
  • May 25, 2012 7:32am May 25, 2012 7:32am
Retail positoning has been neutral all week, which why we have a up and down market with no real trend. Retailers are now slightly long cable and so am currently short for 1.5650 area, but a trade with a small stop.Same with euro short for a few.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: hist.jpg Size: 110 KB
Click to Enlarge Name: cable.jpg Size: 117 KB
Click to Enlarge Name: euro.jpg Size: 107 KB
  • #314,728
  • May 25, 2012 7:34am May 25, 2012 7:34am
Quoting Flatfish
Retail positoning has been neutral all week, which why we have a up and down market with no real trend. Retailers are now slightly long cable and so am currently short for 1.5650 area, but a trade with a small stop.Same with euro short for a few.
If eu go back up today, it go back up big (200 pip)
  • #314,729
  • May 25, 2012 7:37am May 25, 2012 7:37am
Do any diamond/star/triangle or whatever traders make any sense of this scary bearish perspecttive??
I see a broken TL that has not been retested yet
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade76gif.gif Size: 18 KB
Come with me if you want to live....
  • #314,730
  • May 25, 2012 7:46am May 25, 2012 7:46am
Quoting Ill-b-back
Do any diamond/star/triangle or whatever traders make any sense of this scary bearish perspecttive??
I see a broken TL that has not been retested yet
What are the last three candles telling you?
Has price closed above the open of previous down candle?

If not then it is in downtrend.If it has to go up then it has to close above the open of the previous downbar.Till now this situation hasn't occurred.So obvious down trend.
I am a hunter...i kill both bulls and bears...
  • #314,731
  • May 25, 2012 7:47am May 25, 2012 7:47am
only a spider could make sense IBB ha ha
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,732
  • May 25, 2012 7:49am May 25, 2012 7:49am
Quoting Bones
only a spider could make sense IBB ha ha
I am a hunter...i kill both bulls and bears...
  • #314,733
  • May 25, 2012 7:55am May 25, 2012 7:55am
Olympic speculators I tell ,lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,734
  • May 25, 2012 7:56am May 25, 2012 7:56am
Ok.....out of here for the weekend......just wanted to say....wow great strength in Cable in the face of the washout in other pairs.....and the super strength of the USDX.........

All out....and flat -

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #314,735
  • May 25, 2012 7:59am May 25, 2012 7:59am
Quoting Bones
Olympic speculators I tell ,lol


Hmmm...here it hit my s/l and running in my direction(spike).

yak...i hate this spikes...
I am a hunter...i kill both bulls and bears...
  • #314,736
  • May 25, 2012 8:03am May 25, 2012 8:03am
Quoting oathbreaker
What are the last three candles telling you?
Has price closed above the open of previous down candle?

If not then it is in downtrend.If it has to go up then it has to close above the open of the previous downbar.Till now this situation hasn't occurred.So obvious down trend.
Yeah I kind of figured we are in a downtrend, I was thinking more about longer long term (if there is such a thing )
Come with me if you want to live....
  • #314,737
  • May 25, 2012 8:05am May 25, 2012 8:05am
Quoting Bones
only a spider could make sense IBB ha ha
Pips are flys
Come with me if you want to live....
  • #314,738
  • May 25, 2012 8:08am May 25, 2012 8:08am


forget lower wick what do we have ??


Quoting Ill-b-back
Pips are flys
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h1 18-5trade 2.gif Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,739
  • May 25, 2012 8:15am May 25, 2012 8:15am
Quoting oathbreaker
What are the last three candles telling you?
Has price closed above the open of previous down candle?

If not then it is in downtrend.If it has to go up then it has to close above the open of the previous downbar.Till now this situation hasn't occurred.So obvious down trend.
hello,
ok i agree with you, of course!
but i also have to say 1 thing:
what happens in weekly chart if today within few hours something from european things comes out (since no other big news events) and GU takes a lift of some 80-100 pips to close today near 5780?
only an idea that allow me at least to use small size at these levels if i go short.
just that

anyway, i will be out until new week.
patience is better when i don't feel confident.

byebye
90% of traders use TA, indicators and prediction
  • #314,740
  • May 25, 2012 8:15am May 25, 2012 8:15am
Quoting Ill-b-back
Yeah I kind of figured we are in a downtrend, I was thinking more about longer long term (if there is such a thing )
This trend alone is 500 pips if you have opened one leg but if you have opened 10 legs at different intervals then it will be 2000+ pips.I am already +1500pips.

This is long term if you want to hold longer start looking at monthly and be loyal to your monthly time frame and you will only give up the trend only when there is change in monthly trend.This applies to any time frame.You will only change your bias when trend in that time frame changes.
I am a hunter...i kill both bulls and bears...
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