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Cable Update (GBPUSD)

  • #336,081
  • Feb 21, 2013 4:30am Feb 21, 2013 4:30am
Quoting albchr
LOL... don't clap yet buddy. Could be a really stupid move. Today will have to close back above the 50% before I'll think it was a good choice.

But The indexes are something I consider. I don't use divergences but when BBMAC comes in with that, it makes me feel better and also, I somehow think that this range will hold and todays news will have a negative effect on the dollar. I don't trade news, but I don't ignore it's effect.

As always, we shall see.
True. It won't be a smooth ride up but patience is a virtue always. I was just going by the swift retracement it made. That is so typical of GU and once it takes out the high of where the move started, there's a good probability that it will stand. Let's see.
  • #336,082
  • Feb 21, 2013 4:49am Feb 21, 2013 4:49am
Quoting Redben
Short at 225. S/L 240, target 5175. Not pushing for a continuation to LLs due to bullish divergence.
Change of tack: closed at +20. Quick and easy gains and that spike low this morning coupled with the divergence is muddying the picture.
  • #336,083
  • Feb 21, 2013 5:12am Feb 21, 2013 5:12am
Quoting CasperTrader
True. It won't be a smooth ride up but patience is a virtue always. I was just going by the swift retracement it made. That is so typical of GU and once it takes out the high of where the move started, there's a good probability that it will stand. Let's see.

It's never smooth going up with this pair. It always seems to fight for days, weeks, months to climb and then CRASH in the half the time!! LOL

If you remember 100pips and I talking about this week possibly testing the 4 year triangle, well I'm starting to think perhaps we had the TF wrong on that view. Maybe it will be the monthly that tests it. Or perhaps it won't be tested at all. Breaking that triangle was key in my view and I believe this down move will continue to new lows. But it won't be a straight fall and I'm (as always for better or worse) trying to catch the retrace.

Here's that triangle on both weekly and monthly....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu_weekly.gif Size: 27 KB
Click to Enlarge Name: gu_monthly.gif Size: 21 KB
Ghost Rider - WWTBMD?
  • #336,084
  • Feb 21, 2013 5:25am Feb 21, 2013 5:25am
u know why ?

gu just broke 2012 low and trying to stay back above



Quoting albchr
It's never smooth going up with this pair. It always seems to fight for days, weeks, months to climb and then CRASH in the half the time!! LOL

If you remember 100pips and I talking about this week possibly testing the 4 year triangle, well I'm starting to think perhaps we had the TF wrong on that view. Maybe it will be the monthly that tests it. Or perhaps it won't be tested at all. Breaking that triangle was key in my view and I believe this down move will continue to new lows. But it won't be a straight fall and I'm (as always for better or...
not euphoria follower
  • #336,085
  • Feb 21, 2013 5:30am Feb 21, 2013 5:30am
Quoting iqyu5an
u know why ?

gu just broke 2012 low and trying to stay back above
Do I know why "what" bro? I don't understand...
Ghost Rider - WWTBMD?
  • #336,086
  • Feb 21, 2013 5:32am Feb 21, 2013 5:32am
Quoting albchr
Here's hoping you're right bro. 5270 wasn't much support on the way down. Let's hope it isn't much resistance on the way up!
If the 4hr closes above 5290 in the next 2.5hrs (my 4hr candle), we got a shot at the title around 54++ this week
Come with me if you want to live....
  • #336,087
  • Feb 21, 2013 5:36am Feb 21, 2013 5:36am
Quoting albchr
It's never smooth going up with this pair. It always seems to fight for days, weeks, months to climb and then CRASH in the half the time!! LOL

If you remember 100pips and I talking about this week possibly testing the 4 year triangle, well I'm starting to think perhaps we had the TF wrong on that view. Maybe it will be the monthly that tests it. Or perhaps it won't be tested at all. Breaking that triangle was key in my view and I believe this down move will continue to new lows. But it won't be a straight fall and I'm (as always for better or...
You may be right. It maybe monthly that tests it. But that retrace up there will take its time and it will be a bumpy ride. Re-tests do happen but not always. If it does, it will be a great sell. I'm still waiting. We'll need to see where the weekly and monthly close to gauge when the re-test might happen if at all. And why not catch the re-trace if you are good at it. The problem with me is that I bank profit much too quickly and then fingers go itchy to trade again and go long which I've been trying to control. LOL.
  • #336,088
  • Feb 21, 2013 5:38am Feb 21, 2013 5:38am
Quoting Ill-b-back
If the 4hr closes above 5290 in the next 2.5hrs (my 4hr candle), we got a shot at the title around 54++ this week
Looking good so far. Just hope it isn't teasing me. My 4H closes top of this hour. If it closes above the 50% (5270) I'll be encouarged toward your 54++ target brother.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_4h_2.gif Size: 18 KB
Ghost Rider - WWTBMD?
  • #336,089
  • Feb 21, 2013 5:44am Feb 21, 2013 5:44am
Quoting albchr
Looking good so far. Just hope it isn't teasing me. My 4H closes top of this hour. If it closes above the 50% (5270) I'll be encouarged toward your 54++ target brother.
My broker time fits NY closing time, give it another 1.5hrs after this hr if 5270 not broken on your chart in 20mins.

I've got the 50 fib at 5290-91 but different daily times to you
Come with me if you want to live....
  • #336,090
  • Feb 21, 2013 5:46am Feb 21, 2013 5:46am
Quoting CasperTrader
You may be right. It maybe monthly that tests it. But that retrace up there will take its time and it will be a bumpy ride. Re-tests do happen but not always. If it does, it will be a great sell. I'm still waiting. We'll need to see where the weekly and monthly close to gauge when the re-test might happen if at all. And why not catch the re-trace if you are good at it. The problem with me is that I bank profit much too quickly and then fingers go itchy to trade again and go long which I've been trying to control. LOL.

LOL...we suffer the same disease brother!

If I had every short I took at 6300ish still open? WOO HOO!!! I'd be rolling in it. This is actually why I'm trying to adjust to the higher TF's. I do fairly well playing bounces both ways on 4H and below and I enjoy it. But it's a crazy game that requires being at the screen almost non stop. Since I can no longer do that, I have to switch my approach.

That said, I often get in on the beginning of a nice long move but then that dam 4H and below part of me creeps in and I take myself out too soon.
Ghost Rider - WWTBMD?
  • #336,091
  • Feb 21, 2013 5:54am Feb 21, 2013 5:54am
Quoting Ill-b-back
My broker time fits NY closing time, give it another 1.5hrs after this hr if 5270 not broken on your chart in 20mins.

I've got the 50 fib at 5290-91 but different daily times to you
That's what is weird for me. I'm NY time as is my broker. So the 4H would normally close at 8:00am. But it's daylight savings time here (one hour back) so it closes at 7:00am which it will be in 7 minutes...LOL

I've often wondered if there's a way to adjust MT4 for that one hour shift.
Ghost Rider - WWTBMD?
  • #336,092
  • Feb 21, 2013 6:01am Feb 21, 2013 6:01am
Quoting albchr
That's what is weird for me. I'm NY time as is my broker. So the 4H would normally close at 8:00am. But it's daylight savings time here (one hour back) so it closes at 7:00am which it will be in 7 minutes...LOL

I've often wondered if there's a way to adjust MT4 for that one hour shift.
I'm not sure, my broker adjusts itself I think from memory, opening 1hr earlier or later depending on daylight Savings.

As of now, I still have 2hrs left of my 4hr candle
Come with me if you want to live....
  • #336,093
  • Feb 21, 2013 6:03am Feb 21, 2013 6:03am
Quoting Ill-b-back
I'm not sure, my broker adjusts itself I think from memory, opening 1hr earlier or later depending on daylight Savings.

As of now, I still have 2hrs left of my 4hr candle
This means of course CPI and unemployment no's have 30mins to push price and close above 5290 on mine.
Come with me if you want to live....
  • #336,094
  • Feb 21, 2013 6:05am Feb 21, 2013 6:05am
Quoting albchr
That's what is weird for me. I'm NY time as is my broker. So the 4H would normally close at 8:00am. But it's daylight savings time here (one hour back) so it closes at 7:00am which it will be in 7 minutes...LOL

I've often wondered if there's a way to adjust MT4 for that one hour shift.
My UK broker is just as weird, it is 2 hours ahead of GMT so you end up with daily candles that start at 10pm.

The only reason I assume they do it is because Sydney starts at 10pm on a Sunday here.
  • #336,095
  • Feb 21, 2013 6:05am Feb 21, 2013 6:05am
Quoting Ill-b-back
I'm not sure, my broker adjusts itself I think from memory, opening 1hr earlier or later depending on daylight Savings.

As of now, I still have 2hrs left of my 4hr candle
It's 7am here and mine just closed. But being it closed 26 pips above the day open....me thinks I'll hold the longs a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_4h_2.gif Size: 20 KB
Ghost Rider - WWTBMD?
  • #336,096
  • Feb 21, 2013 6:11am Feb 21, 2013 6:11am
Quoting albchr
It's 7am here and mine just closed. But being it closed 26 pips above the day open....me thinks I'll hold the longs a bit.
Yes, a good idea I think Sir, waiting for confirmation but pattern looks good Sir
Come with me if you want to live....
  • #336,097
  • Feb 21, 2013 6:11am Feb 21, 2013 6:11am
Quoting Ill-b-back
This means of course CPI and unemployment no's have 30mins to push price and close above 5290 on mine.
Ok now that's REALLY strange. It's an hour and half (8:30) to those numbers for me and I CAN adjust the FF time for daylight savings so the calendar matches my clock.

So you're telling me you'll see those numbers in 30 minutes?? If so, let me know what they are. An hour advanced notice would be SWEET!!
Ghost Rider - WWTBMD?
  • #336,098
  • Feb 21, 2013 6:14am Feb 21, 2013 6:14am
Looks overbought on 30 and 60 TF but struggling to find entries for shorts due to it going back above 5245-55 S/R. 5280 possible shorting area but too close to news to risk it.

In a nutshell: clueless.
  • #336,099
  • Feb 21, 2013 6:14am Feb 21, 2013 6:14am
Quoting blobsaudio
My UK broker is just as weird, it is 2 hours ahead of GMT so you end up with daily candles that start at 10pm.

The only reason I assume they do it is because Sydney starts at 10pm on a Sunday here.
Mine start at 7:00pm DST and 8:00pm normal. Even more odd is after Sunday. My first "daily" candle after market open is only 4 hours of data...LOL
Ghost Rider - WWTBMD?
  • #336,100
  • Feb 21, 2013 6:16am Feb 21, 2013 6:16am
Quoting albchr
Ok now that's REALLY strange. It's an hour and half (8:30) to those numbers for me and I CAN adjust the FF time for daylight savings so the calendar matches my clock.

So you're telling me you'll see those numbers in 30 minutes?? If so, let me know what they are. An hour advanced notice would be SWEET!!
No Sir, what I mean is, I have (had at the time) 2hrs left of my 4hr candle, news is (was at the time) in 1.5hrs, so that leaves 30mins to get my magic close above my magic number on my magic candle after the magic news
Come with me if you want to live....
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