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Cable Update (GBPUSD)

  • #324,061
  • Sep 11, 2012 12:10pm Sep 11, 2012 12:10pm
Quoting nAVIN2007
i always form for my picture based on the highest time frame..monthly..failed to break below 1.54..so i consider a retest of 1.63 or higher
personally i see higher as we are i think in a uptrend on the major time frames (monthly) so a break above is what i see as probable 1.6125..last chance for bear i feel
Looking at that chart Nav, we could very well come back at least to the 59 area if and when we reach that upper TL.

But then, isn't the 4th touch often the death touch?
Come with me if you want to live....
  • #324,062
  • Sep 11, 2012 12:13pm Sep 11, 2012 12:13pm
Took long in GBPJPY @ 124.96
Tp 1 : 125.15
Tp 2 : 125.70
Sl : 124.61
Attached Image (click to enlarge)
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  • #324,063
  • Sep 11, 2012 12:25pm Sep 11, 2012 12:25pm
Quoting Soros
my trades for the week thus farAttachment

i missed you guys!!!

-no talk, just piping!
good job http://www.easyfreesmileys.com/smile...mileys-796.gif
  • #324,064
  • Sep 11, 2012 1:30pm Sep 11, 2012 1:30pm
http://www.easyfreesmileys.com/smile...ileys-1007.gif
  • #324,065
  • Sep 11, 2012 1:52pm Sep 11, 2012 1:52pm
Looking at the weekly, quite prepared for a possible move back down to 57 area
Come with me if you want to live....
  • #324,066
  • Sep 11, 2012 2:02pm Sep 11, 2012 2:02pm
Out 240pips today! Thank you market!
The trend is a better friend!
  • #324,067
  • Sep 11, 2012 2:05pm Sep 11, 2012 2:05pm
Quoting Ill-b-back
Looking at the weekly, quite prepared for a possible move back down to 57 area
a zone to pay attention ( 6100 to 6170) ...imho Look for a reversal back to 57...
  • #324,068
  • Sep 11, 2012 2:07pm Sep 11, 2012 2:07pm
Quoting chess king
a zone to pay attention ( 6100 to 6170) ...imho Look for a reversal back to 57...
Quite possible yes...
Come with me if you want to live....
  • #324,069
  • Sep 11, 2012 2:11pm Sep 11, 2012 2:11pm
Quoting chess king
a zone to pay attention ( 6100 to 6170) ...imho Look for a reversal back to 57...
Actually, a retest of 59 area and the 61.8 fib from here is something I am keeping an open mind to also.
Come with me if you want to live....
  • #324,070
  • Sep 11, 2012 2:11pm Sep 11, 2012 2:11pm
Quoting nAVIN2007
i always form for my picture based on the highest time frame..monthly..failed to break below 1.54..so i consider a retest of 1.63 or higher
personally i see higher as we are i think in a uptrend on the major time frames (monthly) so a break above is what i see as probable 1.6125..last chance for bear i feel
Then I will be in trouble if your prediction comes true

For general information, I tried to learn to trade with a prop firm, Maverick Trading. They are good, but I wasn't able to keep up the payments at the time, but I've taken what I was taught and play around on demo once in a while. Trading takes considerable dedication and I'm just not able to give it that right now. But I'm always open to learning. I've been a lurker in this thread since mid March.

Regarding my current situation, I have revoked the LPOA and if I'm lucky enough to get out of these trades without a significant loss, I'll be moving to a better situation where there will at least be a 20% hard stop built in.

Best of luck to everyone
  • #324,071
  • Sep 11, 2012 2:18pm Sep 11, 2012 2:18pm
Quoting Ill-b-back
He he...


That's the way Nav, keep the bastard market honest mate
hehe..
  • #324,072
  • Sep 11, 2012 2:20pm Sep 11, 2012 2:20pm
Quoting Ill-b-back
Looking at that chart Nav, we could very well come back at least to the 59 area if and when we reach that upper TL.

But then, isn't the 4th touch often the death touch?

u got it..kiss of death
4th fourth touch may break it

welldone on identifying that
  • #324,073
  • Sep 11, 2012 2:22pm Sep 11, 2012 2:22pm
Quoting bguguen
Actually buddy, watch out my friend.... i just found out Thursday 13th September, is high news day for the USD... FOMC press conference.... watch for signs of a rejection at that Red line and trendline in my chart cuz we might spike up and tank if Ben decides to stay the course and avoid QE3.... lots of ppl will get burned if BEN decides to do so...

will do bud..thou i always follow the chart..theres room
remember this is zero sum and im guessing there still more short than long..most stops above 1.63..

if i was a bank looking to liquidate positions..id target them
  • #324,074
  • Sep 11, 2012 2:32pm Sep 11, 2012 2:32pm
Quoting nAVIN2007
will do bud..thou i always follow the chart..theres room
remember this is zero sum and im guessing there still more short than long..most stops above 1.63..

if i was a bank looking to liquidate positions..id target them
Just came back in...why the pop? Still QE3 effects?
  • #324,075
  • Sep 11, 2012 2:42pm Sep 11, 2012 2:42pm
Quoting nAVIN2007
dont u mean resistance?? dude
nope
support

I ment what I ment

I am talking about the line in the sand 1.2745-50

first stop 1.2813 later 1.2787 and 1.2745-55

I would say 1.2813 would be touched soon only to load more longs for the bulls
  • #324,076
  • Sep 11, 2012 2:50pm Sep 11, 2012 2:50pm
Quoting glenngie
Just came back in...why the pop? Still QE3 effects?
moody's
  • #324,077
  • Sep 11, 2012 4:06pm Sep 11, 2012 4:06pm
Quoting redbeben
nope
support

I ment what I ment

I am talking about the line in the sand 1.2745-50

first stop 1.2813 later 1.2787 and 1.2745-55

I would say 1.2813 would be touched soon only to load more longs for the bulls
I don't trade Euro really so I maybe off track here.
Can I ask why you think that 2745 support will break down soon?

I have a daily/weekly TL break north, bullish divergence on both time frames and bullish price action after retesting the 2745 resistance turned support.

I'm not saying you are wrong (since your trading method is an unsolved mystery to me) and I don't trade the Euro, I'm just curious what you see.
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Come with me if you want to live....
  • #324,078
  • Sep 11, 2012 4:30pm Sep 11, 2012 4:30pm
Quoting Ill-b-back
Actually, a retest of 59 area and the 61.8 fib from here is something I am keeping an open mind to also.
only if you see good signs... currently have is reference to 630x!!!
  • #324,079
  • Sep 11, 2012 4:36pm Sep 11, 2012 4:36pm
Quoting chess king
only if you see good signs... currently have is reference to 630x!!!

I'll know more in about 25 minutes or so when my daily candle closes, but I'm in Nav's camp.

Over the coming weeks, 63 and beyond is my current impression, but I will obey my chart whetever it tells me
Come with me if you want to live....
  • #324,080
  • Sep 11, 2012 4:41pm Sep 11, 2012 4:41pm
Quoting Ill-b-back

I'll know more in about 25 minutes or so when my daily candle closes, but I'm in Nav's camp.

Over the coming weeks, 63 and beyond is my current impression, but I will obey my chart whetever it tells me
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