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Cable Update (GBPUSD)

  • #314,961
  • May 29, 2012 12:27am May 29, 2012 12:27am
Quoting Bones
gbp usd h4 BB ,close under

Now ?

The low if taken im looking 1.5 for this pair next month
to go for 1.5 IMO, price need to breake heavy the 1.5600 straight to 1.55 just to recover up strong due to heavy TP. then, after the recover will eventually try to get lower supports near 1.54 and 1.53.
a lot of work...
of course, everything is possible!
by my side... the more goes down, the more i look for buy opportunity.
i wouldn't be surprised at all to see 1.58 area today.
90% of traders use TA, indicators and prediction
  • #314,962
  • May 29, 2012 12:29am May 29, 2012 12:29am
Quoting _BBKing_
to go for 1.5 IMO, price need to breake heavy the 1.5600 straight to 1.55 just to recover up strong due to heavy TP. then, after the recover will eventually try to get lower supports near 1.54 and 1.53.
a lot of work...
of course, everything is possible!
by my side... the more goes down, the more i look for buy opportunity.
i wouldn't be surprised at all to see 1.58 area today.

1.5797
I don't trust any move - when you have profit...take it.
  • #314,963
  • May 29, 2012 12:36am May 29, 2012 12:36am
actually this small short is giving me doubt.
ok yesterday's low and DP etc...
i'm ready to close manually and reverse in long or wait, depening on PA
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Hourly_snapshot.jpg Size: 93 KB
90% of traders use TA, indicators and prediction
  • #314,964
  • May 29, 2012 12:38am May 29, 2012 12:38am
Quoting Faller
1.5797
yes maybe 1.58 area is way too much but a move into 1.57 is very possible from here!
thanks to point out
90% of traders use TA, indicators and prediction
  • #314,965
  • May 29, 2012 1:41am May 29, 2012 1:41am
ok i reversed the small short in a small long.


Edit: nothing special, targeting some pips...
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  • #314,966
  • May 29, 2012 1:52am May 29, 2012 1:52am
thanks for the reply and sorry did not intend to misquote. i asked i guess because after trading currency futures i found flexibility in spot not available in futures ie., position sizing, scaling, pair selections.....the market close for an hour every day was also an aspect with the futures. you are right about the spreads.

interesting the learning curves are so similar......

good luck with your trades

Quoting Faller
I do not believe that I said that it was more advantageous to trade futures instead of spot - but like you I had my order of learning as well it well - I enjoy trading futures including crudes, Nat Gas, emini and NQ etc....I like the fills that I get trading futures - spreads are like .0001 with my broker when trading the pound.....sometimes .0002 - not sure how else to answer you - futures fit my personality.

Faller.
  • #314,967
  • May 29, 2012 2:03am May 29, 2012 2:03am
price is above its vwap in h1 with a closing candle.
still not a reversal sign. this show a possible weakening in short pressure.

nearest area to be broken is WP 5710-20 area.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Hourly_snapshot.png Size: 11 KB
90% of traders use TA, indicators and prediction
  • #314,968
  • May 29, 2012 2:06am May 29, 2012 2:06am
Quoting Faller
I do not believe that I said that it was more advantageous to trade futures instead of spot - but like you I had my order of learning as well it well - I enjoy trading futures including crudes, Nat Gas, emini and NQ etc....I like the fills that I get trading futures - spreads are like .0001 with my broker when trading the pound.....sometimes .0002 - not sure how else to answer you - futures fit my personality.

Faller.
a part of spread, which is very good, what about volume data? do you use something about?
should be also great!
in dukascopy volumes are so much reliable than MT. another galaxy
90% of traders use TA, indicators and prediction
  • #314,969
  • May 29, 2012 2:07am May 29, 2012 2:07am
lolllloloollol spanish retail sales deep red and EU up!
90% of traders use TA, indicators and prediction
  • #314,970
  • May 29, 2012 2:09am May 29, 2012 2:09am
Quoting joop
after checking monthly cs pattern,i think it same like last year movement.if NFP Pushing lower n close monthly on last March.we may see big HnS on weekly tf 1.5987,if close upper.it may kaboom fly and dive back at lower level.
we at the middle of year range.so be carefull and happy trading on this week

"as usual be friends with bulls and bear"
monday - it play up and down
tuesday - decide direction on us season until wednesday
thursday - retrance of weekly movement
friday - decide break or reject "the fullest trick on friday"

make it happen..
patient is my attitude, rushing is a dog
  • #314,971
  • May 29, 2012 2:15am May 29, 2012 2:15am
Quoting _BBKing_
price is above its vwap in h1 with a closing candle.
still not a reversal sign. this show a possible weakening in short pressure.

nearest area to be broken is WP 5710-20 area.
Frankie did it AGAIN S 5715 Have a nice pipday BB
  • #314,972
  • May 29, 2012 2:16am May 29, 2012 2:16am
Quoting _BBKing_
price is above its vwap in h1 with a closing candle.
still not a reversal sign. this show a possible weakening in short pressure.

nearest area to be broken is WP 5710-20 area.
i moved SL @BE and took partial profits here 5710.
Tp still by default setup, will decide later about it.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Hourly_snapshot.jpg Size: 92 KB
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  • #314,973
  • May 29, 2012 2:20am May 29, 2012 2:20am
Quoting at2au
Frankie did it AGAIN S 5715 Have a nice pipday BB
tks
...actually market moved exactly into pivot area.
from here the move into 1.57 area looks very possible to go till 5730 then 5750.
but also a total reverse down again since still in downtrend.
let's see
90% of traders use TA, indicators and prediction
  • #314,974
  • May 29, 2012 2:33am May 29, 2012 2:33am
G/M,

Fractal swing lo on the Daily now at Friday's low...-the 2nd LL on this t/f after 3 x LH's in it's opa downtrend. 4hr and 1hr remain mixed re opa at the moment. Intraday bullish overall so far.

G/L
ex member
  • #314,975
  • May 29, 2012 2:46am May 29, 2012 2:46am
Quoting bbmac
G/M,

Fractal swing lo on the Daily now at Friday's low...-the 2nd LL on this t/f after 3 x LH's in it's opa downtrend. 4hr and 1hr remain mixed re opa at the moment. Intraday bullish overall so far.

G/L
What is OPA again?

Thanks for refresh
  • #314,976
  • May 29, 2012 2:52am May 29, 2012 2:52am
Enjoy the evening everyone - all positions are now closed.

Going to bed now as it is almost 4AM.

Faller.
I don't trust any move - when you have profit...take it.
  • #314,977
  • May 29, 2012 2:55am May 29, 2012 2:55am
lol I often thnk that


Quoting at2au
What is OPA again?

Thanks for refresh
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,978
  • May 29, 2012 3:02am May 29, 2012 3:02am
Quoting at2au
What is OPA again?

Thanks for refresh
overall price action
90% of traders use TA, indicators and prediction
  • #314,979
  • May 29, 2012 3:03am May 29, 2012 3:03am
Quoting at2au
What is OPA again?

Thanks for refresh
OPA = Overall Price Action (fractal peak/valley analysis) and is a way of determining conditions on any given t/f, ie whether price is in an opa general or classic trend, or ranging.

G/L
ex member
  • #314,980
  • May 29, 2012 3:04am May 29, 2012 3:04am
1.5

current profit 1k

Quoting Ati_82
Would you mind to share your take on the required circumstances for closing the position ? Nice ride so far
On-site guru & also FF member's' psychiatrist, when not drinking tea
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