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Cable Update (GBPUSD)

  • #323,761
  • Sep 6, 2012 11:02pm Sep 6, 2012 11:02pm
Quoting ForexRatVN
What does it mean? I guess long-term bearish
We need to determine what is "longer term" I guess.
It's interesting to me because it contains mixed signals from what I can see.

An obvious bearish pole
Resistance cloud above.
A wedge pattern with higher lows and lower highs
Also
Hidden bullish divergence on CCI (I think) - with lower candlestick highs but higher CCI highs.
Looking like a possible diamond reversal pattern forming at the last 5 candles (lower wicks).

This is all just interesting stuff I enjoy looking at to fill the time. I don't trade quarterly, I am working off daily charts now, so not really relevant to my trade execution right now.
Come with me if you want to live....
  • #323,762
  • Sep 7, 2012 12:34am Sep 7, 2012 12:34am
Quoting Ill-b-back
Sorry you had to go to that trouble Gavalar, I just realised I have that same channel on the daily TF in my journal
No problem at all
  • #323,763
  • Sep 7, 2012 1:27am Sep 7, 2012 1:27am
Quoting iqyu5an
Quarter Time Frame

yes quarterly says 1.65-1.70 strongly possible.
90% of traders use TA, indicators and prediction
  • #323,764
  • Sep 7, 2012 1:29am Sep 7, 2012 1:29am
Quoting PoundTrader
http://www.pic4ever.com/images/kaffeetrinker_2.gif
90% of traders use TA, indicators and prediction
  • #323,765
  • Sep 7, 2012 1:44am Sep 7, 2012 1:44am
in daily chart i see strong possible factors going in 5970-80 then is 6000 round and of course, the 6040-6060.

5900-10 is daily 61% now broken with full candle.

today is nfp data and market will certainly move (i hope).

personally i'm out of GU since very bad trading conditions in my opinion and focused in some better pairs.

but looking in daily i will wait to see price sitting in 1.59 or top-ing in 1.60 1.61 or 1.62 area next week.

a sit in 1.59 is crucial for further upside.
no 1.59, no party!
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #323,766
  • Sep 7, 2012 1:49am Sep 7, 2012 1:49am
SELL ob a break
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  • #323,767
  • Sep 7, 2012 2:22am Sep 7, 2012 2:22am
Quoting iqyu5an
Quarter Time Frame
  • #323,768
  • Sep 7, 2012 2:26am Sep 7, 2012 2:26am
Quoting bguguen
the general move is up... but i think ill allow a slight hint of doubt there... its NFP, Friday soo profit taking might happen before the weekend... sooo i woldnt be surprised if it might end in a bearish day....
if it ends a bullish day good...
if it ends a bearish day... hopefully it doesnt break any support so bulls can stay in control till 1.61

all i know monthly weekly and dailly is in bullish mode..and im a bull..to me this area is mid way..so i feel quite different..
  • #323,769
  • Sep 7, 2012 2:26am Sep 7, 2012 2:26am
I hope for a continuation to 1.5990 today


but it's Friday so might deceive expectations

protect your winnings at all cost
  • #323,770
  • Sep 7, 2012 2:30am Sep 7, 2012 2:30am
Quoting nAVIN2007
all i know monthly weekly and dailly is in bullish mode..and im a bull..to me this area is mid way..so i feel quite different..
soon you'll be free.just trail your SL in case it decides to make something stupid at one point.don't leave it like the last time.
  • #323,771
  • Sep 7, 2012 2:31am Sep 7, 2012 2:31am
Can someone please tell Mr NFP, my profit is now hit and I'm going to party my ass off for the rest of the day?

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  • #323,772
  • Sep 7, 2012 2:48am Sep 7, 2012 2:48am
Quoting gavalar
Can someone please tell Mr NFP, my profit is now hit and I'm going to party my ass off for the rest of the day?

Attachment
ah ah
90% of traders use TA, indicators and prediction
  • #323,773
  • Sep 7, 2012 2:50am Sep 7, 2012 2:50am
Someone, happy to see his account growing up especially the green arrow
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #323,774
  • Sep 7, 2012 2:52am Sep 7, 2012 2:52am
good luck all..........
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #323,775
  • Sep 7, 2012 3:00am Sep 7, 2012 3:00am
Quoting redbeben
soon you'll be free.just trail your SL in case it decides to make something stupid at one point.don't leave it like the last time.
this is how i differ from the majority..to me..i have achieved anything..floating loss or win means nothing to me so..theres no fear in moving stops..i never do this especially this sort of trade..

i may however exit the 1.6 position as it wasnt in the best place..and buyer lower towards the ground..but am looking for position for cable above 1.63 to be honest..still early days

i can wait!!..no problem there
but thanks mans..its encouraging to hear similar from yourself
  • #323,776
  • Sep 7, 2012 3:07am Sep 7, 2012 3:07am
Quoting nAVIN2007
this is how i differ from the majority..to me..i have achieved anything..floating loss or win means nothing to me so..theres no fear in moving stops..i never do this especially this sort of trade..

i may however exit the 1.6 position as it wasnt in the best place..and buyer lower towards the ground..but am looking for position for cable above 1.63 to be honest..still early days

i can wait!!..no problem there
but thanks mans..its encouraging to hear similar from yourself
No wonder you have been LONG microphone on every post by you.
This forum needs unbiased opinions not from someone who constantly drums up extreme long view.
If you only posted less about your extreme long positions this forum could potentially benefit.
In trading, you have to be defensive and aggressive at the same time
  • #323,777
  • Sep 7, 2012 3:13am Sep 7, 2012 3:13am
Quoting nAVIN2007
this is how i differ from the majority..to me..i have achieved anything..floating loss or win means nothing to me so..theres no fear in moving stops..i never do this especially this sort of trade..

i may however exit the 1.6 position as it wasnt in the best place..and buyer lower towards the ground..but am looking for position for cable above 1.63 to be honest..still early days

i can wait!!..no problem there
but thanks mans..its encouraging to hear similar from yourself
I only go with the flow for small runs and only if charts show me.long term view you know it since last year...but it will take ages.
Just posted yesterday the UCAD trade that lasted for 4 months...does it worth it ? nope.

for now I have GU longs with a huge 2 k profit and all locked 1.5920-45 as 1.5990 should give rejection and cable could drop to S 1.5880 where a buy could give a good RR

but news scare me....

20 pips here,20 pips there....I'll never hold this
  • #323,778
  • Sep 7, 2012 3:15am Sep 7, 2012 3:15am
Quoting Davit
No wonder you have been LONG microphone on every post by you.
This forum needs unbiased opinions not from someone who constantly drums up extreme long view.
If you only posted less about your extreme long positions this forum could potentially benefit.

thats a wonderfull joke.. are u kidding me..
i literally told u we are going to go and the area to watch out for..and what did it do go there and get buyers

u have no idea how i trade and my analysis that i do..i only trade in the direction i believe is true..i have even mentioned 1.6 and a hurdle

i can read PA pretty well ..so how u say i am posted info of little benefit is beyond me..however i understand right now u might be stressed i will take what u say with a pitch of salt

i hope u get out in profit
  • #323,779
  • Sep 7, 2012 3:15am Sep 7, 2012 3:15am
Quoting nAVIN2007
all i know monthly weekly and dailly is in bullish mode..and im a bull..to me this area is mid way..so i feel quite different..
Why was that funny! I like you to post that laughing toy when it hits 57 or even lower.
I guess this post must be your brilliant interpretation of markets.
In trading, you have to be defensive and aggressive at the same time
  • #323,780
  • Sep 7, 2012 3:17am Sep 7, 2012 3:17am
Quoting Davit
No wonder you have been LONG microphone on every post by you.
This forum needs unbiased opinions not from someone who constantly drums up extreme long view.
If you only posted less about your extreme long positions this forum could potentially benefit.
Hi
I myself has been shorting as I personally think the prospect of no QE3 this year and UK has not really improved by much. November it will all be clear!
Thanks
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