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Cable Update (GBPUSD)

  • #322,341
  • Aug 22, 2012 7:43am Aug 22, 2012 7:43am
I PREFER YOUR CHARTS
Quoting redbeben
simple clean charts.I wish I could draw them this way.
  • #322,342
  • Aug 22, 2012 7:50am Aug 22, 2012 7:50am
Quoting TerpFan2
Lucky kid...

Well,
That didn't work... (below),

So here's the Link Chris...
Someday, maybe to visit!

http://www.youtube.com/watch?v=L_Ujj_74IAE

Some day....
Ghost Rider - WWTBMD?
  • #322,343
  • Aug 22, 2012 7:51am Aug 22, 2012 7:51am
Quoting redbeben
simple clean charts.I wish I could draw them this way.
Thanks - Quite simple really - I just break each bar down(Lower - Time-frames) i.e Looking for Signs of Strength or Weakness(VSA signals ..) . Price usually has problems getting by these levels when they re-visit ...
  • #322,344
  • Aug 22, 2012 8:08am Aug 22, 2012 8:08am
short again at 1.5812
Money never sleeps...
  • #322,345
  • Aug 22, 2012 8:09am Aug 22, 2012 8:09am
if bears take control its a long way down from here
  • #322,346
  • Aug 22, 2012 8:13am Aug 22, 2012 8:13am
just double top? Or...
lets see
  • #322,347
  • Aug 22, 2012 8:15am Aug 22, 2012 8:15am
Quoting aarash
just double top? Or...
lets see

double top and right up to both my upper trendlines on the H4 chart (my main chart)

Overbought on the RSI, top of the range etc etc etc

So it will probably go up
Money never sleeps...
  • #322,348
  • Aug 22, 2012 8:22am Aug 22, 2012 8:22am
..........
Attached Image (click to enlarge)
Click to Enlarge Name: intraday4hr1map.gif Size: 25 KB
  • #322,349
  • Aug 22, 2012 8:23am Aug 22, 2012 8:23am
Quoting inpatient
short again at 1.5812

You got in quicker than I did bro lol - Im short from 1.5811 with s/l @ 1.5824

This morning when it bounced from this level it went on to drop 40 pips, but i'll take 20 if I get the chance.

Not sure how the FOMC meeting minutes will affect market later...
  • #322,350
  • Aug 22, 2012 8:31am Aug 22, 2012 8:31am
Quoting Freshpips
You got in quicker than I did bro lol - Im short from 1.5811 with s/l @ 1.5824

This morning when it bounced from this level it went on to drop 40 pips, but i'll take 20 if I get the chance.

Not sure how the FOMC meeting minutes will affect market later...

Yeah i hear you with the 20 pips,

in my notes from the FOMC on Aug 1 they pretty much said nothing or at least tried to sound neither here or there. August 1st did however see a 120 pip fall in the price, maybe another fall today from it but considerably less than 120 pips. Maybe 40 tops,

The next move will be gearing up for fridays Euro news on Spain and there decision to open their hands for help, so far this is being priced in bullish but if the spanish say no then we might see this back to the usual range back under 1.572 again.

What i dont get though is how the Spanish asking for help gives the euro and GBP strength?

Anyone got anything on this?

For me and i know i might start a battle here but we dont discuss things like this hardly at all but we spend alot of time on technicals.

People saying fundamentals and news releases arent important must remember how many times we have seen news released in the past will trigger 200 pip moves?
Money never sleeps...
  • #322,351
  • Aug 22, 2012 8:48am Aug 22, 2012 8:48am
Quoting inpatient
double top and right up to both my upper trendlines on the H4 chart (my main chart)

Overbought on the RSI, top of the range etc etc etc

So it will probably go up
Now you're getting it. So do the opposite...
Ghost Rider - WWTBMD?
  • #322,352
  • Aug 22, 2012 8:49am Aug 22, 2012 8:49am
Quoting inpatient
Yeah i hear you with the 20 pips,

in my notes from the FOMC on Aug 1 they pretty much said nothing or at least tried to sound neither here or there. August 1st did however see a 120 pip fall in the price, maybe another fall today from it but considerably less than 120 pips. Maybe 40 tops,

The next move will be gearing up for fridays Euro news on Spain and there decision to open their hands for help, so far this is being priced in bullish but if the spanish say no then we might see this back to the usual range back under 1.572 again....

coz they get to stay in EZ
  • #322,353
  • Aug 22, 2012 8:49am Aug 22, 2012 8:49am
Quoting inpatient
double top and right up to both my upper trendlines on the H4 chart (my main chart)

Overbought on the RSI, top of the range etc etc etc

So it will probably go up
Exactly!!
  • #322,354
  • Aug 22, 2012 8:54am Aug 22, 2012 8:54am
Quoting inpatient
Yeah i hear you with the 20 pips,

in my notes from the FOMC on Aug 1 they pretty much said nothing or at least tried to sound neither here or there. August 1st did however see a 120 pip fall in the price, maybe another fall today from it but considerably less than 120 pips. Maybe 40 tops,

The next move will be gearing up for fridays Euro news on Spain and there decision to open their hands for help, so far this is being priced in bullish but if the spanish say no then we might see this back to the usual range back under 1.572 again.

What...

Tp for 18 pips in the end, that will do for now....

Im not a master of fundies, barley a novice! But all Id say is it gives the impression that the life of the eurozone will be potentially prolonged. However, I think we all know what the inevitable result will be, cue Mario Draghi with more of his usual bullshit

However, if it strenghtens euro, it will be temporarily and therefore just gives us a better price to short from. Just my opinion dude. Could be massivley wrong!
  • #322,355
  • Aug 22, 2012 9:02am Aug 22, 2012 9:02am
Quoting Freshpips
Tp for 18 pips in the end, that will do for now....

Im not a master of fundies, barley a novice! But all Id say is it gives the impression that the life of the eurozone will be potentially prolonged. However, I think we all know what the inevitable result will be, cue Mario Draghi with more of his usual bullshit

However, if it strenghtens euro, it will be temporarily and therefore just gives us a better price to short from. Just my opinion dude. Could be massivley wrong!

well for what its worth my friend i do agree with you, short term hysteria and news seem to be being priced in overly bullish,

i mean the overall picture of high unemployment, zero growth, Greece, Italy, Spain, Ireland etc etc has not changed and i can not see this bull run taking us out of the boudary of the recent range (certainly not much outside).

My only hope is that Poundtrader can handle maybe 1.585-588 and come back into play on any down move. Would miss him being around and would be another dent to the quailty of this forum.
Money never sleeps...
  • #322,356
  • Aug 22, 2012 9:04am Aug 22, 2012 9:04am
I also hope that Spain sort things out, spent alot of time in Spain (usually drunk) and really liked the place and people, laid back, chilled and damn awesome at Football right now.

I have been told that the reason for the troubles is the slow pace of life which is frustrating as its everything i love about the place. Who wants to live life at 200mph
Money never sleeps...
  • #322,357
  • Aug 22, 2012 9:05am Aug 22, 2012 9:05am
Quoting inpatient
well for what its worth my friend i do agree with you, short term hysteria and news seem to be being priced in overly bullish,

i mean the overall picture of high unemployment, zero growth, Greece, Italy, Spain, Ireland etc etc has not changed and i can not see this bull run taking us out of the boudary of the recent range (certainly not much outside).

My only hope is that Poundtrader can handle maybe 1.585-588 and come back into play on any down move. Would miss him being around and would be another dent to the quailty of this forum.

Completely agree bro, need all the people like him possible, people like that, along with yourself that I'm trying to learn from...
Do you know where his current stop is?
  • #322,358
  • Aug 22, 2012 9:06am Aug 22, 2012 9:06am
Quoting inpatient
I also hope that Spain sort things out, spent alot of time in Spain (usually drunk) and really liked the place and people, laid back, chilled and damn awesome at Football right now.

I have been told that the reason for the troubles is the slow pace of life which is frustrating as its everything i love about the place. Who wants to live life at 200mph

Amen to that brother
  • #322,359
  • Aug 22, 2012 9:06am Aug 22, 2012 9:06am
fast paced hussle = make more money
fast paced hussle = more stress

its the money v stress argument

Which is why im trying to shift from business to trading....

life is too short to be killing yourself at work everyday, keeping to someone elses schedule and rules.
Money never sleeps...
  • #322,360
  • Aug 22, 2012 9:14am Aug 22, 2012 9:14am
Quoting inpatient
fast paced hussle = make more money
fast paced hussle = more stress

its the money v stress argument

Which is why im trying to shift from business to trading....

life is too short to be killing yourself at work everyday, keeping to someone elses schedule and rules.

Theres never a perfect time to make the leap, but from what I read of your posts it seems you are more than able to survive from trading, and with more time available to spend trading, you'll end up making more than you ever have, without the corporate stress of a 9-5
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