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Cable Update (GBPUSD)

  • #331,261
  • Nov 29, 2012 3:06pm Nov 29, 2012 3:06pm
Yes, this week has sucked big time.
  • #331,262
  • Nov 29, 2012 3:08pm Nov 29, 2012 3:08pm
i just took a long
  • #331,263
  • Nov 29, 2012 5:10pm Nov 29, 2012 5:10pm
Quoting Ill-b-back
Nice to see you to Vilkas

You may want to correct this, people will talk

Price is not exactly springing north to continue this super rally, but I see something on the very near horizon.

Are we going to teasingly take out last weeks 6050 high tomorrow for a 3rd time this week to 6068 area before the dump??

It sems to be an important area tech wise and price wise on daily and weekly

Greedy Cable...

Ive got to go, cheers.
Cable you sneaky bastard.

We have bounced off the ascending monthly TL the other week producing a somewhat
Weekly reversal bar. Followed by a bullish confirmation bar.
We have a daily right shoulder.

And I see only I line that has not been retested since the descent from 63 at 6195 (76 fib).

And we have Draghi speaking today...
Come with me if you want to live....
  • #331,264
  • Nov 29, 2012 6:08pm Nov 29, 2012 6:08pm
any solid bullish ( even daily ) candle doesn't mean direct bullish sign. really ? just look at kiwi and aussie.

and new higher high doesn't mean direct bullish sign either.

never judge the book from the cover, never judge the trend from one single candle only even it's solid candle...

just imho

1 cent and only
not euphoria follower
  • #331,265
  • Nov 29, 2012 6:37pm Nov 29, 2012 6:37pm
Good day to you,

Things are looking positive to be breaking the recent high in due course. Never been a fundamental trader. Like the simple mechanical stuff and love Renko. These 2 charts work in tandem.

We have been in uptrend for the past 10 days with no real indication of any sustainable downward pressure.. Rsi of Rsi cross still in place. The PA patterns within this leg up do suggest that the high might be taken out before we go anywhere else. Renko backs this scenario up. My only concern is a level on EU that I believe we will visit again - 1.2910.

So I will only scalp on Renko signals with 20 - 30 pip bites. Will also wait for EU Renko chart to align short - going forward - and then build the short towards the 1.2910. GU may then follow...

Wish you a positive day ahead

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.jpg Size: 89 KB
Click to Enlarge Name: gurenko.jpg Size: 108 KB
  • #331,266
  • Nov 29, 2012 8:26pm Nov 29, 2012 8:26pm
Quoting TauTrader
Good day to you,

Things are looking positive to be breaking the recent high in due course. Never been a fundamental trader. Like the simple mechanical stuff and love Renko. These 2 charts work in tandem.

We have been in uptrend for the past 10 days with no real indication of any sustainable downward pressure.. Rsi of Rsi cross still in place. The PA patterns within this leg up do suggest that the high might be taken out before we go anywhere else. Renko backs this scenario up. My only concern is a level on EU that I believe we will visit...
May today be the day of the big one (the big rally)
  • #331,267
  • Nov 29, 2012 8:42pm Nov 29, 2012 8:42pm
Quoting tunera
May today be the day of the big one (the big rally)
Tunera,

Hmm.. might be. But she has been quite sneaky off late. I am planning to exit @ 1.6056 ( 1.6060 the close of the next 20 pip Renko - less spread and a pip). That is the rule I have to follow.

So, if long - I do hope you get excellent reward. Trade well and I wish you success

Regards
  • #331,268
  • Nov 29, 2012 8:50pm Nov 29, 2012 8:50pm
Okay i've entered another short on my most hated pair.. the NZDJPY....
another divergence signal came in at candle close last night, and seeing as RSI is topping out, i have reasons to believe the NZDJPY will make a huge correction move in the near future.... down to potentially 64.20

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy daily.gif Size: 23 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,269
  • Nov 29, 2012 9:02pm Nov 29, 2012 9:02pm
Quoting TauTrader
Tunera,

Hmm.. might be. But she has been quite sneaky off late. I am planning to exit @ 1.6056 ( 1.6060 the close of the next 20 pip Renko - less spread and a pip). That is the rule I have to follow.

So, if long - I do hope you get excellent reward. Trade well and I wish you success

Regards

I'm not laughing at your post TT, but rather, what comes with it...

Come with me if you want to live....
  • #331,270
  • Nov 29, 2012 9:11pm Nov 29, 2012 9:11pm
Quoting fxtyrant
Okay i've entered another short on my most hated pair.. the NZDJPY....
another divergence signal came in at candle close last night, and seeing as RSI is topping out, i have reasons to believe the NZDJPY will make a huge correction move in the near future.... down to potentially 64.20

Attachment
Fxtyrant,

Have a look at the divergence indicator I attach for you. I quickly checked - it picks up all the same divergences as your RSI (10) - and then some - not sure if this is a good thing, or a bad thing... if not of any additional value - discard.

Regards
Attached File(s)
File Type: ex4 Divergence Recognition.ex4   40 KB | 229 downloads
  • #331,271
  • Nov 29, 2012 9:13pm Nov 29, 2012 9:13pm
Quoting Ill-b-back

I'm not laughing at your post TT, but rather, what comes with it...

Ibb-

Good day to you, sir

What have I done now? Hmm?

How are things down under? ( Australia)
  • #331,272
  • Nov 29, 2012 9:20pm Nov 29, 2012 9:20pm
Quoting TauTrader
Fxtyrant,

Have a look at the divergence indicator I attach for you. I quickly checked - it picks up all the same divergences as your RSI (10) - and then some - not sure if this is a good thing, or a bad thing... if not of any additional value - discard.

Regards
Thanks Tau, are you suggesting that the divergence indicator of mine might be faulty?
because i do understand i get a lot of question as to why divergence can pass through previous highs.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,273
  • Nov 29, 2012 9:31pm Nov 29, 2012 9:31pm
Quoting fxtyrant
Thanks Tau, are you suggesting that the divergence indicator of mine might be faulty?
because i do understand i get a lot of question as to why divergence can pass through previous highs.
Sir,

No - not at all.

Regards
  • #331,274
  • Nov 29, 2012 9:32pm Nov 29, 2012 9:32pm
Quoting TauTrader
Sir,

No - not at all.

Regards
problelm with crosses like the NZDJPY, theres hardly any news to trade it by.... which makes tech really nice... IF the tech strategy is correct.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,275
  • Nov 29, 2012 10:04pm Nov 29, 2012 10:04pm
Quoting fxtyrant
problelm with crosses like the NZDJPY, theres hardly any news to trade it by.... which makes tech really nice... IF the tech strategy is correct.
Yip,

Divergence trading can be powerful when incorporated into a strategy. Coupled with support/resistance levels as well as pinbars /and or engulfing candles - some good trades can be had.

All the best
  • #331,276
  • Nov 29, 2012 10:08pm Nov 29, 2012 10:08pm
Quoting TauTrader
Ibb-

Good day to you, sir

What have I done now? Hmm?

How are things down under? ( Australia)
You have done nothing TT beyond make me laugh with your signature brother, funniest thing I have read in a while.

I need to get out more.

Come with me if you want to live....
  • #331,277
  • Nov 29, 2012 10:14pm Nov 29, 2012 10:14pm
Quoting Ill-b-back
You have done nothing TT beyond make me laugh with your signature brother, funniest thing I have read in a while.

I need to get out more.

Just clarifying what I was laughing at mate.
Come with me if you want to live....
  • #331,278
  • Nov 29, 2012 10:21pm Nov 29, 2012 10:21pm
http://www.forexfactory.com/attachme...1&d=1354256256
not euphoria follower
  • #331,279
  • Nov 29, 2012 10:37pm Nov 29, 2012 10:37pm
Quoting Ill-b-back
Just clarifying what I was laughing at mate.
Ibb-

I am a bit slow at times...forgive me.

preparing to travel up the west coast today. Will pop in later this afternoon.

Setting TP now.

All the best
  • #331,280
  • Nov 29, 2012 11:19pm Nov 29, 2012 11:19pm
Quoting TauTrader
Ibb-

I am a bit slow at times...forgive me.

preparing to travel up the west coast today. Will pop in later this afternoon.

Setting TP now.

All the best

are we ready for short's now
Loosening is not an option
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