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Cable Update (GBPUSD)

  • #319,081
  • Jul 18, 2012 5:03pm Jul 18, 2012 5:03pm
Quoting Ill-b-back
Thx BB.
Do you ever apply MACD to get an idea of the swing force or rely on PA alone?
only pa.
indicators confuse me. i need to open the trade where i see price suggesting to do, and when that time comes, indicators are always saying something else. maybe 70% of times

i just drawn a MovAvg to remember me to forget about going long when price is below (near) it, or short when price is above (near) it. in few words no good to open longs near 97.30. infact, i went long yesterday 97.18

but sssh!! don't tell anybody
90% of traders use TA, indicators and prediction
  • #319,082
  • Jul 18, 2012 5:07pm Jul 18, 2012 5:07pm
may be tomorrow on h4 ,if hi holds
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #319,083
  • Jul 18, 2012 5:08pm Jul 18, 2012 5:08pm
Quoting thegunslinger
Some analysis -

We've seen this same (similar) action before. End of June, price raced up to the upper TL and bounced around there for a couple of days before dropping down. We're still under that TL and price broke the TL of the last few days' upwards move.

I'm short @ 1.5651. SL 1.5700. TP 1.5520.

agreed, (or wishfull thinking on my part but anyway here is my stance)

We have seen 4 consecutive days of dollar declines on the dollar index. I read that the last time this happened was late April and was followed by a massive reversal through May.

I think alot of this dollar weakness is somewhat unexplained (i know many will disagree but if you were asked this time last week if we were in a long term downtrend then the answer would almost certainly be yes. The reversal over the last week whilst inline with 'normal' range is still somewhat surprising tome and my bet is to hold my short positions.
Money never sleeps...
  • #319,084
  • Jul 18, 2012 5:09pm Jul 18, 2012 5:09pm
Quoting thegunslinger
Some analysis -

We've seen this same (similar) action before. End of June, price raced up to the upper TL and bounced around there for a couple of days before dropping down. We're still under that TL and price broke the TL of the last few days' upwards move.

I'm short @ 1.5651. SL 1.5700. TP 1.5520.
i also was thinking something similar.
then i decided to wait
main problem is that i'm already into other trades.

look for a possible breaking up/down of this ugly triangle.
down would be better to meet lower line coming from 1.54
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #319,085
  • Jul 18, 2012 5:21pm Jul 18, 2012 5:21pm
Quoting thegunslinger
Some analysis -

We've seen this same (similar) action before. End of June, price raced up to the upper TL and bounced around there for a couple of days before dropping down. We're still under that TL and price broke the TL of the last few days' upwards move.

I'm short @ 1.5651. SL 1.5700. TP 1.5520.
it's a tough zone we are in, but some things I've been observing lately.
The bullish candles on your chart are far less stressed than the bearish ones.
The 200 and 100 smas above on the daily are flattening out around the 50 fib zone (or just below it), and the 60sma looks like it wants to soon join them from my perspective.
Not saying buy or sell but I thought worth mentioning.
Sorry, on phone so no chart.
Come with me if you want to live....
  • #319,086
  • Jul 18, 2012 5:23pm Jul 18, 2012 5:23pm
Quoting _BBKing_
only pa.
indicators confuse me. i need to open the trade where i see price suggesting to do, and when that time comes, indicators are always saying something else. maybe 70% of times

i just drawn a MovAvg to remember me to forget about going long when price is below (near) it, or short when price is above (near) it. in few words no good to open longs near 97.30. infact, i went long yesterday 97.18

but sssh!! don't tell anybody
He he ok bb, thanks for that.
mums the word
Come with me if you want to live....
  • #319,087
  • Jul 18, 2012 5:30pm Jul 18, 2012 5:30pm
1hr gbpusd shows clearly the last 3 dips have been bought aggresively....price now testing a former 1hr swing hi zone leading up to yesterday's hi...

Upside break more probable ?

G/L
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ex member
  • #319,088
  • Jul 18, 2012 5:56pm Jul 18, 2012 5:56pm
bro... i feel a bit different with my chart ........ not up and down

but ... left and right .... left right ...left right..

i was trying to call my broker... but still no solution. any idea for this bro ?


Quoting _BBKing_
anyway...
talking about charts....
i really feel annoyed by these moves.
up
down
up
down
up
down
up
down

fuck.

the only thing moving is AUD which only goes up against everything.

what do you think guys??
will GU hold this pattern or crash the 54 area to go deep and follow the EU?
would mean to see at least 1.50 straight then 1.45 the following week.

in my opinion, only a clear solution by EZ will change this scenario. and actually things are not getting better...
not euphoria follower
  • #319,089
  • Jul 18, 2012 6:10pm Jul 18, 2012 6:10pm
Quoting _BBKing_
i also was thinking something similar.
then i decided to wait
main problem is that i'm already into other trades.

look for a possible breaking up/down of this ugly triangle.
down would be better to meet lower line coming from 1.54
Iv'e got a similar outlook BB, but I will be watching an extra white line as well as your 54 TL.
Ignore my buys, I'm just hedged.
Got to get back to work.
Take care.
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Come with me if you want to live....
  • #319,090
  • Jul 18, 2012 6:29pm Jul 18, 2012 6:29pm
Quoting Ill-b-back
Iv'e got a similar outlook BB, but I will be watching an extra white line as well as your 54 TL.
Ignore my buys, I'm just hedged.
Got to get back to work.
Take care.
Looking to me like could have started break out to the top, but needs to be confirmed with a clear sign.
Ok, def. got to go.
Come with me if you want to live....
  • #319,091
  • Jul 18, 2012 8:37pm Jul 18, 2012 8:37pm
Quoting thegunslinger
I'm not infallible, but no need to be a dick. You can just say "You're wrong and here's why" instead of being so abrasive about it.

edit: Must be talking about USB monitors or adapters. They can work if you have the CPU power. I wouldn't mess with that on a trading setup. You don't want your machine freezing up on you because the CPU is busy processing something that would be trivial on a non-corner cutting setup.
2

Sure...ok....you gave no options for him but you did tout yourself that you are an IT guy.....so since you seem to know more then me I will say sorry for being abrasive. I will keep my knowledge to myself. Have a good night.

Faller.
I don't trust any move - when you have profit...take it.
  • #319,092
  • Jul 18, 2012 8:54pm Jul 18, 2012 8:54pm
Quoting Ill-b-back
Looking to me like could have started break out to the top, but needs to be confirmed with a clear sign.
Ok, def. got to go.
uptrend has not been confirm yet, so shorts are still in play
  • #319,093
  • Jul 18, 2012 8:57pm Jul 18, 2012 8:57pm
Breakout on either side could decide longer picture move, should find out tomorrow hopefully, till then watch out for breakout
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  • #319,094
  • Jul 18, 2012 9:07pm Jul 18, 2012 9:07pm
Quoting PoundTrader
uptrend has not been confirm yet, so shorts are still in play
Agreed...
Come with me if you want to live....
  • #319,095
  • Jul 18, 2012 9:10pm Jul 18, 2012 9:10pm
Quoting iqyu5an
was thinking to go to point 3 yesterday
http://www.forexfactory.com/attachme...1&d=1342603936

but my daily candle close below yesterday daily open line
http://www.forexfactory.com/attachme...8&d=1342663713
not euphoria follower
  • #319,096
  • Jul 18, 2012 9:51pm Jul 18, 2012 9:51pm
Quoting Ill-b-back
Agreed...
uptrend is building, i got my eye open
  • #319,097
  • Jul 18, 2012 9:56pm Jul 18, 2012 9:56pm
Quoting PoundTrader
uptrend is building, i got my eye open
it is indeed, though going to keep my short opened until it hits sl
  • #319,098
  • Jul 18, 2012 10:16pm Jul 18, 2012 10:16pm
Quoting PoundTrader
uptrend is building, i got my eye open
Do you trade any other pairs PT?
Come with me if you want to live....
  • #319,099
  • Jul 19, 2012 1:05am Jul 19, 2012 1:05am
Quoting PoundTrader
uptrend is building, i got my eye open
Damn she's tight, still very easily go either way.
Come with me if you want to live....
  • #319,100
  • Jul 19, 2012 1:12am Jul 19, 2012 1:12am
GM Guys - a nice orderly thread and as I've returned to trading Cable, I'm a follower

IMO we need some new news to give cable a kick - either way.....one of these might help:

today at 04:30 EDT GBP Retail Sales

tomorrow at 04:30 EDT UK Public Sector Net Borrowing

and dollar-wise there's US data at 8:30 and 10:00am today.....
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