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Cable Update (GBPUSD)

  • #323,101
  • Aug 30, 2012 1:02pm Aug 30, 2012 1:02pm
Quoting taomql4
You know You are crazy when you go against Weekly Supply - Funny thing is , I did a moment ago and almost paid for it..
i was long 5830 and 5840.
hope this will make you feel better!

of course.... i went short 5860
90% of traders use TA, indicators and prediction
  • #323,102
  • Aug 30, 2012 1:52pm Aug 30, 2012 1:52pm
GBPUSD

KG
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  • #323,103
  • Aug 30, 2012 2:05pm Aug 30, 2012 2:05pm
Bought cable

http://i45.tinypic.com/33fc20x.jpg
  • #323,104
  • Aug 30, 2012 2:13pm Aug 30, 2012 2:13pm
Quoting Robertk
Bought cable
Just curious...why?
Ghost Rider - WWTBMD?
  • #323,105
  • Aug 30, 2012 2:19pm Aug 30, 2012 2:19pm
Quoting Robertk
Bought cable

http://i45.tinypic.com/33fc20x.jpg
Bought from 15782 with TP @ 15900
  • #323,106
  • Aug 30, 2012 2:27pm Aug 30, 2012 2:27pm
Quoting albchr
Just curious...why?
Dollar index was indicating a short term move lower.
EUR/GBP looked like it was going to move lower as well.
Cable had some decent potential upside.
Bit of an inverse H&S.

Was right about DXY, unfortunately wrong on EUR/GBP. EUR made the short term bullish scalping move instead of GU.. Still hoping GU will do so as well tho.

Edit: Apparently at the time of typing GU followed. Was my last scalp move in order to minimize my losses some of today. Was a terrible day lol.

http://i45.tinypic.com/el6428.jpg
  • #323,107
  • Aug 30, 2012 2:33pm Aug 30, 2012 2:33pm
Quoting albchr
Just curious...why?
Just simply love to see Cable wake up (J/K)

Actually, I see cable moving within area of 50% & 61.8% Fib on daily chart. I bought at 50% and expect the price to reach 61.8% as 1st target, then a weak break upside after that too. SL is set @ 15700

Cheers
  • #323,108
  • Aug 30, 2012 2:49pm Aug 30, 2012 2:49pm
Quoting Robertk
Dollar index was indicating a short term move lower.
EUR/GBP looked like it was going to move lower as well.
Cable had some decent potential upside.
Bit of an inverse H&S.

Was right about DXY, unfortunately wrong on EUR/GBP. EUR made the short term bullish scalping move instead of GU.. Still hoping GU will do so as well tho.

Edit: Apparently at the time of typing GU followed. Was my last scalp move in order to minimize my losses some of today. Was a terrible day lol.
Ok cool. Are you a scalper for the most part? Or just trying to sqeeze some out of this dead market? LOL

What I see on the indexes (which is just another filter for me) is the USD just cleared a small S/R and is now on top testing it. The GBP has been rejected at it's 50% and is rolling back a bit this afternoon.

I've been waiting since the northbound break for a test of 5730ish. After this weeks total lack of action, I started thinking maybe 5780ish is all we'd see and I was tempted to long there. But as of right now I think I'll wait to see if 5730 is still viable.

If GU is to launch north after BS BEN gets done, there will be plenty of time to jump on board because I think we'll be seeing the 5900/6300 range again. If only for a short time.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #323,109
  • Aug 30, 2012 3:19pm Aug 30, 2012 3:19pm
Quoting ForexRatVN
Just simply love to see Cable wake up (J/K)

Actually, I see cable moving within area of 50% & 61.8% Fib on daily chart. I bought at 50% and expect the price to reach 61.8% as 1st target, then a weak break upside after that too. SL is set @ 15700

Cheers
Well I just woke up and saw Cable.

Thank God I had hedged my long from last week

More seriously though, We are now retesting the broken TL
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Come with me if you want to live....
  • #323,110
  • Aug 30, 2012 3:21pm Aug 30, 2012 3:21pm
Quoting albchr
Ok cool. Are you a scalper for the most part? Or just trying to sqeeze some out of this dead market? LOL

What I see on the indexes (which is just another filter for me) is the USD just cleared a small S/R and is now on top testing it. The GBP has been rejected at it's 50% and is rolling back a bit this afternoon.

I've been waiting since the northbound break for a test of 5730ish. After this weeks total lack of action, I started thinking maybe 5780ish is all we'd see and I was tempted to long there. But as of right now I think I'll wait to see...
Most traders would disagree but I do not use anything higher then one minute lol. However, I have all MTF MA 200's on this TF. Most positions are 1/2 scalped for 4/5 pips at high order flow levels in order to cover my SL which is 6 pips at most. Then let the other position run 10~ + ahead towards confluence levels.

I wanted to try to lock in some running positions with a nice buffer before the Ben event takes place but no luck so far... market today didn't allow it.. missed that huge downmove =/ Same goes for upmoves earlier this week.. Been a terrible week most part, hope yours went better!

Btw, my alarm is set at 10039 DXY(blue line). 4H 200 SMA with a couple of weekly and monthly R in that zone. If index interaction is correct might go for a few long scalps/runners on cable.

http://i48.tinypic.com/264hv5y.gif
  • #323,111
  • Aug 30, 2012 3:22pm Aug 30, 2012 3:22pm
Quoting albchr
Ok cool. Are you a scalper for the most part? Or just trying to sqeeze some out of this dead market? LOL

What I see on the indexes (which is just another filter for me) is the USD just cleared a small S/R and is now on top testing it. The GBP has been rejected at it's 50% and is rolling back a bit this afternoon.

I've been waiting since the northbound break for a test of 5730ish. After this weeks total lack of action, I started thinking maybe 5780ish is all we'd see and I was tempted to long there. But as of right now I think I'll wait to see...
I kind of like that whole scenerio
Come with me if you want to live....
  • #323,112
  • Aug 30, 2012 3:36pm Aug 30, 2012 3:36pm
But then again, we are also retesting my broken weekly channel here on
the weekly and daily chart.

Tough market, so not giving up my Day Job just yet...
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Come with me if you want to live....
  • #323,113
  • Edited 3:53pm Aug 30, 2012 3:38pm | Edited 3:53pm
Quoting Robertk
Most traders would disagree but I do not use anything higher then one minute lol. However, I have all MTF MA 200's on this TF. Most positions are 1/2 scalped for 4/5 pips at high order flow levels in order to cover my SL which is 6 pips at most. Then let the other position run 10~ + ahead towards confluence levels.

I wanted to try to lock in some running positions with a nice buffer before the Ben event takes place but no luck so far... market today didn't allow it.. missed that huge downmove =/ Same goes for upmoves earlier this week.. Been a...
Ok then, you are a bonified scalper...LOL A talent I have to learn because although I did well this week, I think I could have KILLED it scalping this slow moving range...LOL

On Monday whilst waiting for paint to dry, I did a little rough figuring for scalp potential on GU & EU. This was written at about 9:30 EST so the day was far from over. I should go back and figure it to days end for fun.

http://www.forexfactory.com/showthre...75#post5961275
Ghost Rider - WWTBMD?
  • #323,114
  • Aug 30, 2012 3:52pm Aug 30, 2012 3:52pm
Quoting Ill-b-back
I kind of like that whole scenerio
All I can say is, by the charts it's possible for sure. The 4H speaks for itself and the arrow on the 12H shows the Daily TL @ 5728. Same daily TL it broke on the nothbound run. So I still think a test of that 5730ish I've been wanting is possible. A close below that 50% on the 12H would be SWEET!
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Ghost Rider - WWTBMD?
  • #323,115
  • Aug 30, 2012 4:37pm Aug 30, 2012 4:37pm
Quoting albchr
All I can say is, by the charts it's possible for sure. The 4H speaks for itself and the arrow on the 12H shows the Daily TL @ 5728. Same daily TL it broke on the nothbound run. So I still think a test of that 5730ish I've been wanting is possible. A close below that 50% on the 12H would be SWEET!
Ah, ha, I see your TL now

I had a slightly different TL (shown) but it has already been retested.

There is some very good confluence with your TL retest, a current descending channel and the daily 200SMA for tomorrows candle

We have also had a good closed break of the weely 200sma last week.

I can't wait to get back to my swing trades, I find other forms of trading alot of work especially with my time zone and drives me batty

Note: Looks like that weekly 200SMA is now starting to flatten out for the first time in a long time.
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Come with me if you want to live....
  • #323,116
  • Aug 30, 2012 5:47pm Aug 30, 2012 5:47pm
Quoting Ill-b-back
Ah, ha, I see your TL now
LOL...yea it's tough to see on the 4H being red. Here it is a bit thickerer.
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Ghost Rider - WWTBMD?
  • #323,117
  • Aug 30, 2012 6:00pm Aug 30, 2012 6:00pm
Quoting albchr
LOL...yea it's tough to see on the 4H being red. Here it is a bit thickerer.
Right, i see your bigger picture now.

I woke up this morning expecting to see 59 or something and saw the drop and just shook my head, but like many things, it makes sense in RETROSPECT, LOL...

Out of curiosity though, I'd love to see a major MA such as a 200ema/sma or a 55ema of a higher TF chart like the quarterly or something or even higher.

Considering the continuous Cable rise before the GFC, a different picture may emerge from the GFC (retrace)

I'm a hard core tech who hates fundies and I'm becoming quite a conspiracy theorist also I think
Come with me if you want to live....
  • #323,118
  • Aug 30, 2012 6:57pm Aug 30, 2012 6:57pm
Quoting Ill-b-back
Right, i see your bigger picture now.


I'm a hard core tech who hates fundies and I'm becoming quite a conspiracy I think...
The market can do that to ya.....
Ghost Rider - WWTBMD?
  • #323,119
  • Aug 30, 2012 8:18pm Aug 30, 2012 8:18pm
Guys, talk about following my trend line, this thing is walking along it for what seems like forever..

Last time i didnt trust my lines enough and missed the chance on a long opportunity and got in late missing the boat somewhat. This time im already in long, looking for 1.586

from there i have pending shorts back down to 1.581, trouble is i expected this to play out sooner than this and certainly before the action afetr ben speaks tomorrow (dont really want to go into that with anything open until i see the move.

Gonna stay up late and see if this moves but if nothing by then im gonna close them all out and wait for later.
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Money never sleeps...
  • #323,120
  • Aug 30, 2012 8:20pm Aug 30, 2012 8:20pm
my main H4 chart
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Money never sleeps...
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