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Cable Update (GBPUSD)

  • #318,781
  • Jul 15, 2012 3:35pm Jul 15, 2012 3:35pm
getting tempted to short as it looks like a good level for it 50% fib 1.5778-1.5392 retracement.
  • #318,782
  • Jul 15, 2012 3:46pm Jul 15, 2012 3:46pm
Just updating charts before I hit the sack ready for tomorrow's London morning session as usual. Are you ready for the new week's trading ?


1. Do you know the overall price action conditions on the t/f's of choice on your trading instruments of choice ? Do you have a methodology to detremine this as price discovery takes place ? ie do you know whether your instrument is ranging or trending and if trending - what type of trend ?
2. Do you know where the potential support/resistance factors are on the t/f's of choice on your trading instruments of choice ?
3. Do you know which of the above are historically more likely to see a price reaction ?
4. Are you aware of the known event risks due during your trading session and the most likley price reactions to each of the main scenarios ?
5. Are you in the right mindset to trade ?
6. Do you have a 'trading edge ' ?
7. Do you know what a trading edge is and as importantly - what it is not ?
8. Do you know all the metrics to date associated with your trading edge ? it's strike rate it's expectancy ? and it's typical to maximum distributions ?


If you answer no or I don't know to any of the above then your chances of a successful trading session are much diminished, let alone your chances of becomming a successful consistently profitable trader with an income you can rely on.


G/L
ex member
  • #318,783
  • Jul 15, 2012 4:22pm Jul 15, 2012 4:22pm
short @ 1.5582
s/l @ 1.5652

happy pipping...
I am a hunter...i kill both bulls and bears...
  • #318,784
  • Jul 15, 2012 8:13pm Jul 15, 2012 8:13pm
Trapped @5545, down trend has not been changed.
Believe what you see instead of what you think!
  • #318,785
  • Jul 15, 2012 11:53pm Jul 15, 2012 11:53pm
http://www.forexfactory.com/attachme...1&d=1342237704

Quoting iqyu5an
mate...

let see where 2012 open line, refer to your fibo and refer to usdx, i could understand about 23.4 ( around 1.550xx ). but back to friday/thursdat low... i will look how market close in monday first.

just my imho
http://www.forexfactory.com/attachme...1&d=1342236639

http://www.forexfactory.com/attachme...1&d=1342191254

http://www.forexfactory.com/attachme...1&d=1342174448
not euphoria follower
  • #318,786
  • Jul 16, 2012 12:22am Jul 16, 2012 12:22am
G/M

5591 the current Daily hi @ 61.8% 5722-5392 and the pullback from there @ 23.6% of the 5392-5591 move

G/L
ex member
  • #318,787
  • Jul 16, 2012 12:22am Jul 16, 2012 12:22am
Quoting redbeben
oh man,I'm so glad I did not short earlier my short scalp triggered now...SL 1.5600 (1.5591-92 should limit it according to my calculations...no techs for this ) and TP 1.5520 and from that point trail

but,as I said,1.5555 is midpoint (1.5534 is a MA100 as well) but,again acording to my calculations price will stop around 1.5538 first time and bounce....if all goes acc to plan and we don't have any gap on monday morning.

from that 1.5538 (considering that we don't have any bounce and we crossed the midpoint we head lower for...

ok done ..I sold and it looks the price will first touch 1.5515 -5520 .Later stop 1.5501-5503 where are heavier buyers and later 1.5492-85 some important buyers and 50% fibo as well.

If we close M30 under 1.5492 we head to 1.5434 and if things play out nice we see 1.5370-51 pretty soon ..in some 10-12 hours or so.
Attached Image (click to enlarge)
Click to Enlarge Name: sold.gif Size: 44 KB
  • #318,788
  • Jul 16, 2012 12:25am Jul 16, 2012 12:25am


Quoting redbeben
ok done ..I sold and it looks the price will first touch 1.5515 -5520 .Later stop 1.5501-5503 where are heavier buyers and later 1.5492-85 some important buyers and 50% fibo as well.

If we close M30 under 1.5492 we head to 1.5434 and if things play out nice we see 1.5370-51 pretty soon ..in some 10-12 hours or so.
not euphoria follower
  • #318,789
  • Jul 16, 2012 12:42am Jul 16, 2012 12:42am
it's that daily descending trendline at the current daily hi...will it give ? are we going to see some more upside on Friday's bullish thrust candle? How strong are the bulls now ?

Stay tuned for all these answers and more courtesy of the market lol !!

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 128 KB
ex member
  • #318,790
  • Jul 16, 2012 1:02am Jul 16, 2012 1:02am
Quoting redbeben
ok done ..I sold and it looks the price will first touch 1.5515 -5520 .Later stop 1.5501-5503 where are heavier buyers and later 1.5492-85 some important buyers and 50% fibo as well.

If we close M30 under 1.5492 we head to 1.5434 and if things play out nice we see 1.5370-51 pretty soon ..in some 10-12 hours or so.
in the next 30 min we see 1.5515-5520 ....or so we should

are there any news today????didn't check yet
  • #318,791
  • Jul 16, 2012 1:04am Jul 16, 2012 1:04am
To the immediate downside per near-term current 1hr chart below with Daily Pivot @/around 5522, Weekly Pivot @/around 5515, and Daily S1 @/around 5465, Weekly S1 just under @/around 5451.

G/L
Attached Image
ex member
  • #318,792
  • Jul 16, 2012 1:05am Jul 16, 2012 1:05am
hi all,

the last three Friday fortnights have all seen big bullish candles...coincidence?

Attached Image
  • #318,793
  • Jul 16, 2012 1:05am Jul 16, 2012 1:05am
Quoting redbeben
in the next 30 min we see 1.5515-5520 ....or so we should

are there any news today????didn't check yet
No Uk specific news I can see, some € stuff and some U.s stuff later.

G/L
ex member
  • #318,794
  • Jul 16, 2012 1:07am Jul 16, 2012 1:07am
It's a good observation, I have no idea whether coincidence or not ?

G/L

Quoting Cobby
hi all,

the last three Friday fortnights have all seen big bullish candles...coincidence?

Attachment
ex member
  • #318,795
  • Jul 16, 2012 1:28am Jul 16, 2012 1:28am
classic patterns of regular bearish divergence in the oscillators to 30min at the current daily hi

Pullback only or will the last 2 Friday's patterns pointed out by Cobby in post above repeat ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 97 KB
ex member
  • #318,796
  • Jul 16, 2012 1:43am Jul 16, 2012 1:43am
and GU and EU on fibo
posible long
Attached Image (click to enlarge)
Click to Enlarge Name: 74.GIF Size: 24 KB
  • #318,797
  • Jul 16, 2012 2:04am Jul 16, 2012 2:04am
thinking the 38.2 will get a look in at some stage
where i see the weekly pivot is sitting too.

Attached Image
  • #318,798
  • Jul 16, 2012 2:22am Jul 16, 2012 2:22am
retrace
Attached Image (click to enlarge)
Click to Enlarge Name: 76.GIF Size: 25 KB
  • #318,799
  • Jul 16, 2012 2:24am Jul 16, 2012 2:24am
It's falling guys...put some legs..

I already have 5 legs...

Enter the seen...+200 pips already...come on...move...move...
I am a hunter...i kill both bulls and bears...
  • #318,800
  • Jul 16, 2012 2:29am Jul 16, 2012 2:29am
Eur ,GBP both are falling...

Don't think 2much..i will later on add my charts...
I am a hunter...i kill both bulls and bears...
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