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Cable Update (GBPUSD)

  • #322,101
  • Aug 21, 2012 9:32am Aug 21, 2012 9:32am
Quoting inpatient
Quite close to the top of both the H4 and daily trend lines right now and overbought signals on the stoch indi,

Could be a good place to enter but ideally an entry closer to your S/L with the Stop then placed at 1.581
Why place a stop right on the 50fib bro? GU attracted to this fib like a fly to jam??
Shit, sorry, I'm thinking of 5781.
Spank me
Come with me if you want to live....
  • #322,102
  • Aug 21, 2012 9:33am Aug 21, 2012 9:33am
Quoting C345
Maybe looking at different things but this morning from Franky open was easy trade quick + 20 for which is my day target - yesterday was a different issue. That was crappy!!

G/l on the short

Well played C345, do you always trade from Frankfurt open? I usually start the day with London open but by doing that often miss the sometimes nice little movements between the 2...

But apart from that move 7am GMT through til 9.15 GMT been very scrappy in my opinion.
  • #322,103
  • Aug 21, 2012 9:36am Aug 21, 2012 9:36am
1.5784 is the tough one to pass.my system tells me we head south from this point

I loaded more shorts same TP same SL
  • #322,104
  • Aug 21, 2012 9:43am Aug 21, 2012 9:43am
Quoting bguguen
Yo bro.... come on skype!!! chat there!!! gotta chat with you voice to voice...
im gona pm you my skype account details...
I very rarely Skype during the week because when I get home, it's check the charts real quick, feed the baby, bath the baby, have TV dinner then cuddles on the couch (if not posting here).
The main difference is Skype = noise and this not good when baby asleep.
Must let wife get sleep so she stays human instead of a cranky monster (which requires baby to sleep), it's complicated.
Got your Skype thx dude, will try on a weekend if home promise dude.
41 minutes past midnight here and I'm up in exactly 5 hrs, off to sleep.
Take care dude, will skype.
Come with me if you want to live....
  • #322,105
  • Aug 21, 2012 9:43am Aug 21, 2012 9:43am
Quoting inpatient
Quite close to the top of both the H4 and daily trend lines right now and overbought signals on the stoch indi,

Could be a good place to enter but ideally an entry closer to your S/L with the Stop then placed at 1.581

After the 4th rejection on m15 from 1.5776 I thought this was the start of the move down and 1.5770 was the level price was at, I should have waited in retrospect but didnt want to miss the boat, happened to me before more than a few times

It appears to have broken to the upside in the shorterm - I was obviously too quick to jump in...

You think 1.581 sensible place for stop? Acted as support back in March/April... Its the next real level on larger T/F I'd agree.
  • #322,106
  • Aug 21, 2012 9:49am Aug 21, 2012 9:49am
Quoting Makavelli7
Still holding on to them freaking longs from 1.5653. D shit's gonna hit the fan immediately 1.5750 snaps! target 1.5900
Really dont know where you guys are getting your shortthecable theories from. the Motherfu...er is heading for freaking 1.5950 Dammmmit! Hey PT, I think I need more of that your good shit!!!
The only way not to think about money is to have a great deal of it
  • #322,107
  • Aug 21, 2012 9:49am Aug 21, 2012 9:49am
Quoting Freshpips
After the 4th rejection on m15 from 1.5776 I thought this was the start of the move down and 1.5770 was the level price was at, I should have waited in retrospect but didnt want to miss the boat, happened to me before more than a few times

It appears to have broken to the upside in the shorterm - I was obviously too quick to jump in...

You think 1.581 sensible place for stop? Acted as support back in March/April... Its the next real level on larger T/F I'd agree.

TBH in terms of the stop, i dont really use them, i would be (and i am) confident that we are in an overbought area right now and certainly nearing the top of the range on many peoples trend lines. I think entering now is a winner regardless. I know many have already entered back at 1.57.

the stop at 1.581 is because a break may signal something heading back up to the gods. im short and would exit on anything higher than 1.581 (which i do not expect)
Money never sleeps...
  • #322,108
  • Aug 21, 2012 9:52am Aug 21, 2012 9:52am
Quoting Makavelli7
Really dont know where you guys are getting your shortthecable theories from. the Motherfu...er is heading for freaking 1.5950 Dammmmit! Hey PT, I think I need more of that your good shit!!!
Why are you questioning people's longs ideas if you say it's heading to 5950 which is about 170 pips long from here??
Come with me if you want to live....
  • #322,109
  • Aug 21, 2012 9:53am Aug 21, 2012 9:53am
Quoting Makavelli7
Really dont know where you guys are getting your shortthecable theories from. the Motherfu...er is heading for freaking 1.5950 Dammmmit! Hey PT, I think I need more of that your good shit!!!
He he he, you realise and change, now "I" look the fool.
Come with me if you want to live....
  • #322,110
  • Aug 21, 2012 9:54am Aug 21, 2012 9:54am
Quoting inpatient
TBH in terms of the stop, i dont really use them, i would be (and i am) confident that we are in an overbought area right now and certainly nearing the top of the range on many peoples trend lines. I think entering now is a winner regardless. I know many have already entered back at 1.57.

the stop at 1.581 is because a break may signal something heading back up to the gods. im short and would exit on anything higher than 1.581 (which i do not expect)

From my charts I see a drop is imminent, however, the way the markets have been It wouldnt suprise me if I rocketed up by another 200+ pips.

Thanks for your help/anaylsis, really appreciate it bro
  • #322,111
  • Aug 21, 2012 9:55am Aug 21, 2012 9:55am
Quoting Makavelli7
Really dont know where you guys are getting your shortthecable theories from. the Motherfu...er is heading for freaking 1.5950 Dammmmit! Hey PT, I think I need more of that your good shit!!!
maybe it will maybe it won't the only question is when ?

will we see 1.5900 first or 1.5500 first ?

will we still be here calling short or long tmr when market will shift or we'll come back later after our TP will be touched in months time ?

will we still call 1.5900 when we go to 1.5730-5695 and leave 80 good pips on the table ?

some close in advance,rinse and repeat.some are position traders and hold it for ages.

I am short but it might take weeks
I was long as well from 1.5764 so I got 19 more pips on the up move....

I guess this is where the differences in long or short comes from.some are short time traders some are long term .

some see a short as retrace for consolidation...which could easily bring them 50 pips(and some traders here only need 5-10 pips a day)

some see 1.5900 but it might retrace before and make them wait longer to their TP .


or at least this is what I think
  • #322,112
  • Aug 21, 2012 10:02am Aug 21, 2012 10:02am
Quoting Freshpips
From my charts I see a drop is imminent, however, the way the markets have been It wouldnt suprise me if I rocketed up by another 200+ pips.

Thanks for your help/anaylsis, really appreciate it bro

How do we define imminent when view charts?

Thanks....just trying to continue my education here.....

Faller.
I don't trust any move - when you have profit...take it.
  • #322,113
  • Aug 21, 2012 10:02am Aug 21, 2012 10:02am
This pair is insanity.
  • #322,114
  • Aug 21, 2012 10:04am Aug 21, 2012 10:04am
wow right at the breaking point now, next ten mins will make or break this
Money never sleeps...
  • #322,115
  • Aug 21, 2012 10:04am Aug 21, 2012 10:04am
Quoting TauTrader
Ok - Fastest finger first...

Hope you are positioned shorties

The higher you can sell, the better - I believe..

If I am wrong - I just dissapear..

poof
I don't trust any move - when you have profit...take it.
  • #322,116
  • Aug 21, 2012 10:04am Aug 21, 2012 10:04am
Quoting HotBiscuits
This pair is insanity.
use a SL

you can sleep at night this way

and if you lose one trade be a man and take the loss tmr is another day right ?
  • #322,117
  • Aug 21, 2012 10:05am Aug 21, 2012 10:05am
Quoting TauTrader
Some people are obviously long.

GL

luck be with them that are long.....amen.
I don't trust any move - when you have profit...take it.
  • #322,118
  • Aug 21, 2012 10:05am Aug 21, 2012 10:05am
Quoting Freshpips
Well played C345, do you always trade from Frankfurt open? I usually start the day with London open but by doing that often miss the sometimes nice little movements between the 2...

But apart from that move 7am GMT through til 9.15 GMT been very scrappy in my opinion.
Start looking from around 6.30 am see whats happened overnight then Frankfurt open can produce some quick movement
  • #322,119
  • Aug 21, 2012 10:12am Aug 21, 2012 10:12am
We have a breakout to the upside today, as shown by the bullish daily candle. Price has finally broken above the cluster sma resistance. Touching the yellow 50 fib.
The market sentiment is quite bullish today, and if you trade against it today, you will suffer drawdowns.

the broken cluster sma resistence will act as support and needs to hold on the next retrace to re-test it.
1.5802 is the midpoint of the May monthly brearish engulfing candle. We need a close above it to confirm a bottom, and negate that May candle's dominance.

There is more cluster resistance sitting above around 1.5860 price level. That is your first upside target if Market Sentiment remains Risk On.

The market is pricing in ECB comments from last week. Hopium is driving this momentum today. Friday, the Spanish request for more help will be another trigger.
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  • #322,120
  • Aug 21, 2012 10:12am Aug 21, 2012 10:12am
Quoting Makavelli7
Really dont know where you guys are getting your shortthecable theories from. the Motherfu...er is heading for freaking 1.5950 Dammmmit! Hey PT, I think I need more of that your good shit!!!
OHHH NOOO!!! not again!!!! Bears are getting fucked from the other side.
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The only way not to think about money is to have a great deal of it
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