bounce up off the previous min or 4hr/1hr swing lo zone leading down to yesterday's lo has challenged 50% of yesterday's drop from 5873 to that 5771 lo. Strong bounce up !
G/L
G/L
ex member
Cable Update (GBPUSD)
- #323,141
- Aug 31, 2012 4:05am Aug 31, 2012 4:05am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #323,143
- Aug 31, 2012 4:17am Aug 31, 2012 4:17am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Hey Nav
It's already happened brother.
Check yesterday's drop against the GFC monthly (particularly the little spike up before the plummet.
It's just an interesting observation I have made on the 1min chart before. I made a post about it some time ago.
Personally, looking at this weekly congestion and continued upward pressure and those ascending weekly tails, the weekly looks like it just wants to bust free north over the medium/longer term.
I NOW see what you saw over 1year ago
Personally I would not be at all surprised to see...
the sum bitch is trying it..the weekly congestion has broken out ..it appeared to be a bear flag at first glance and from a technical stand point..1.4 something could happen if it broke south..but u know me..i trade pound exclusively..so i looked at 16 month time frame and it show me that theres a reluctance to go south..infact the 16 month is bullish..
then the index..looked bullish breakout and bottomed..made sense to try what i did as i never held a position longer than 3 weeks ..somehow i find myself still in
lesson leaned dont f**&k with 16 months unless u want to do nothing and watch paint dry..best to look at the goldfish..doesnt hurts the pocket
going back to yur point i guess at this point i hoping for either a congestion at this point on weekly that really would help..and possible as monthly close today would be bullish...
- #323,144
- Aug 31, 2012 4:24am Aug 31, 2012 4:24am
- Joined Aug 2010 | Status: Trader | 3,185 Posts
the weekly congestion has broken out ..it appeared to be a bear flag at first glance and from a technical stand point..1.4 something could happen if it broke south..but u know me..i trade pound exclusively..so i looked at 16 month time frame and it show me that theres a reluctance to go south..infact the 16 month is bullish..
then the index..looked bullish breakout and bottomed..made sense to try what i did as i never held a position longer than 3 weeks ..somehow i find myself still in
lesson leaned dont...
seems like you have been in this trade for 16 months now!!! Hope you are holding up and doing well - I don't know how you do it.......as you know I am an intra day trader.......it kills me to hold something overnight!!!! I rarely do that!
Long live the POUND!!!
Cheers...
Faller
I don't trust any move - when you have profit...take it.
- #323,145
- Aug 31, 2012 4:27am Aug 31, 2012 4:27am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Good day,
Started building short. Will manage as we progress.
Regards
Ghost Rider - WWTBMD?
- #323,146
- Aug 31, 2012 4:31am Aug 31, 2012 4:31am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Hey nAVIN -
seems like you have been in this trade for 16 months now!!! Hope you are holding up and doing well - I don't know how you do it.......as you know I am an intra day trader.......it kills me to hold something overnight!!!! I rarely do that!
Long live the POUND!!!
Cheers...
Faller
i always had an ability to adapt quick..i knew when entering this was possible i guess this made the difference..but i wont lie...not ever doing this again..if i get out it will be interesting to see the type of day trading i can achieve..its a step toward 100% mechanical approach to trading
at this point euro and gold need to play there part..
- #323,147
- Aug 31, 2012 4:34am Aug 31, 2012 4:34am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
Have another sell limit reserved for 1.5840-50 . And yet another for 1.5865-70. That would complete my attempt and will cut all @ 1.5885.I'm leaving for a few meetings ( quick ones) - so setting these and leaving them.
Will have to see what comes of 'em.
Trade well!
Regards
- #323,148
- Aug 31, 2012 5:00am Aug 31, 2012 5:00am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Good day to you, sir
Have another sell limit reserved for 1.5840-50 . And yet another for 1.5865-70. That would complete my attempt and will cut all @ 1.5885.I'm leaving for a few meetings ( quick ones) - so setting these and leaving them.
Will have to see what comes of 'em.
Trade well!
Regards
Well, if I'm reading this right (which is rare), your upper limits may not get triggered. Here's hoping the best for all.
Ghost Rider - WWTBMD?
- #323,149
- Aug 31, 2012 5:01am Aug 31, 2012 5:01am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #323,150
- Aug 31, 2012 5:12am Aug 31, 2012 5:12am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
the weekly congestion has broken out ..it appeared to be a bear flag at first glance and from a technical stand point..1.4 something could happen if it broke south..but u know me..i trade pound exclusively..so i looked at 16 month time frame and it show me that theres a reluctance to go south..infact the 16 month is bullish..
then the index..looked bullish breakout and bottomed..made sense to try what i did as i never held a position longer than 3 weeks ..somehow i find myself still in
lesson leaned dont...
I was really just talking about this highlighted area on the 15 min chart and the monthly GFC drop similarity.
I've seen the last 5 years monthly pattern played out on the 1min chart quite a few times this year.
Reminds me of small waves within big waves etc. Just something interesting I've noticed that's all.
Anyway, the footy is on so got to go.
May stay up for Benny, but then maybe not since I don't really care which way it goes right now...
Come with me if you want to live....
- #323,151
- Aug 31, 2012 5:39am Aug 31, 2012 5:39am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
why do you trade today ? 
in a loose loose situation...bleah
like blinded mosquitos you follow TL's or indies and hope it will work out ?
I have to say news move the price and indies follow....not the otherway around.
better sideline till next week
in a loose loose situation...bleah
like blinded mosquitos you follow TL's or indies and hope it will work out ?
I have to say news move the price and indies follow....not the otherway around.
better sideline till next week
- #323,152
- Aug 31, 2012 5:50am Aug 31, 2012 5:50am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
why do you trade today ?
in a loose loose situation...bleah
like blinded mosquitos you follow TL's or indies and hope it will work out ?
I have to say news move the price and indies follow....not the otherway around.
better sideline till next week
If your talking about me Red, I not trade today, these are only trades from yesterday and last week.
Just controlling my possible DD until I get a swing signal.
I have very good conviction with my swing trades but none with my daytrading.
Don't know why I keep trying to day trade to be honest.
For me it's an exercise in futility.
Wasn't it you that said Fundies Shmundies?
Come with me if you want to live....
- #323,153
- Aug 31, 2012 5:54am Aug 31, 2012 5:54am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
He he,
If your talking about me Red, I not trade today, these are only trades from yesterday and last week.
Just controlling my possible DD until I get a swing signal.
I have very good conviction with my swing trades but none with my daytrading.
Don't know why I keep trying to day trade to be honest.
For me it's an exercise in futility.
Wasn't it you that said Fundies Shmundies?
I'll tell you a secret later
- #323,154
- Aug 31, 2012 5:56am Aug 31, 2012 5:56am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
I'll tell you a secret later
Come with me if you want to live....
- #323,155
- Aug 31, 2012 6:01am Aug 31, 2012 6:01am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Well, it was a gutsy call.
I was really just talking about this highlighted area on the 15 min chart and the monthly GFC drop similarity.
I've seen the last 5 years monthly pattern played out on the 1min chart quite a few times this year.
Reminds me of small waves within big waves etc. Just something interesting I've noticed that's all.
Anyway, the footy is on so got to go.
May stay up for Benny, but then maybe not since I don't really care which way it goes right now...
- #323,156
- Aug 31, 2012 6:04am Aug 31, 2012 6:04am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
why do you trade today ?
in a loose loose situation...bleah
like blinded mosquitos you follow TL's or indies and hope it will work out ?
I have to say news move the price and indies follow....not the otherway around.
better sideline till next week
u are wrong..price follows symmetry its a question of having the right lines..important decisions are made at these decisive points ..
yur past dictates yur present so why not in trading?
see u on the other side..
- #323,157
- Aug 31, 2012 6:10am Aug 31, 2012 6:10am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
over time u notice price action behaviour without even realising..any1 knew to market not having screen time, welp i have no idea what they must be thinking..
f#*kbefore moving higher
But seriously though, right now, the weekly chart looks to me like it's Just starting to wind up, particularly with a 200SMA slapped on it.
On the weekly chart,it seems to me the 1st 4 months of this year was just setting things up for the rest of the year.
Come with me if you want to live....
- #323,158
- Aug 31, 2012 6:12am Aug 31, 2012 6:12am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
We have retested your Broken 16 month TL sometime ago, so keeping this timeframe in perspective we have been consolidating ever since
before moving higher
But seriously though, right now, the weekly chart looks to me like it's Just starting to wind up, particularly with a 200SMA slapped on it.
On the weekly chart,it seems to me the 1st 4 months of this year was just setting things up for the rest of the year.
u know my target already and believe me..i believe it
i said it b4 i will say again..dont f&^*k with meh positions
- #323,160
- Aug 31, 2012 6:28am Aug 31, 2012 6:28am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
u know my target already and believe me..i believe it
i said it b4 i will say again..dont f&^*k with meh positions
Remember when I was ranting about the Monthly bear flag I thought I was seeing combined with Europe going to shit?
Then January just went Nup sorry I'll-b-back mate, you got it all wrong.
You say "don't f&^*k with meh positions" and the market told me "don't f&^*k with da Pound"
Come with me if you want to live....