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Cable Update (GBPUSD)

  • #336,781
  • Mar 11, 2013 8:20am Mar 11, 2013 8:20am
H1

is it scalpable?
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  • #336,782
  • Mar 11, 2013 8:21am Mar 11, 2013 8:21am
Quoting chazzle
H1

is it scalpable?
I'm in a long from 876, risk 10 for 20 (ish)
  • #336,783
  • Mar 11, 2013 8:30am Mar 11, 2013 8:30am
another attempt at Friday low - tightening my sl to 2pips - cos if it doesn't hold, the shit could hit the fan
  • #336,784
  • Mar 11, 2013 8:38am Mar 11, 2013 8:38am
Quoting chazzle
tightening my sl to 2pips
2pips lost in the Cable slot machine - what a rush
  • #336,785
  • Mar 11, 2013 9:39am Mar 11, 2013 9:39am
GBP/USD Retail Long positions at all yearly highs.
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  • #336,786
  • Mar 11, 2013 9:41am Mar 11, 2013 9:41am
Quoting 100PipsADay
GBP/USD Retail Long positions at all yearly highs.
then we have more sell stops below to trigger new lows, and further sell limits at every lower high! . only until a clear push to take out trailing stops, before gbp can retrace. Now it's not even breathing, it's dumping 24/7.
  • #336,787
  • Mar 11, 2013 10:10am Mar 11, 2013 10:10am
Quoting 5percent
then we have more sell stops below to trigger new lows, and further sell limits at every lower high! . only until a clear push to take out trailing stops, before gbp can retrace. Now it's not even breathing, it's dumping 24/7.
Why do i get the feeling you so short on this pair that you wish we go down to 0.5?!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,788
  • Mar 11, 2013 12:16pm Mar 11, 2013 12:16pm
reckon this is the bottom b4 a retrace..or if lucky the bottom
  • #336,789
  • Mar 11, 2013 12:48pm Mar 11, 2013 12:48pm
Hi mate - hope u r well...you wish - lol !! Who knows ? - it hit Monthly S1 at the bottom and now a previous 1hr swing lo zone has formed ....and a strong pullback from that current daily lo - 4864 so far but we've seen these all the way down lol ! Technically we are still in general opa downtrend from 1hr - Daily and a strong down move from a HH to what will eventaually be a LL on weekly (when the frractal swing forms on that t/f...) All depends on what t/f's you are watching I guess. Some kind of ' extended pullback ' at least is overdue just by the law of averages but this doesn't mean to say we'll see one...

G/L

Quoting nAVIN2007
reckon this is the bottom b4 a retrace..or if lucky the bottom
ex member
  • #336,790
  • Mar 11, 2013 1:02pm Mar 11, 2013 1:02pm
If you see, GBPUSD is just following GBPJPY. I think it is not still bullish.
  • #336,791
  • Edited 2:07pm Mar 11, 2013 1:25pm | Edited 2:07pm
Ok gu new habbit now only , another new low & then expecting more also when others may to do next yet , specially eu next time . so watching 4943 ,64 & 85 breaks one after the other or not . last leg down for up may be 47** down or more even . Otherwise Monday ranging and more range to do before the decision , tomorrow & next day.
fontu .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,792
  • Mar 11, 2013 3:27pm Mar 11, 2013 3:27pm
Quoting kamifx
Big Bearish Candle confirms down trend but need momentum and best Sell area for new traders is above 1.4980
for scalping 1.4945-1.4910 (Swing trading)
As I mentioned today, pair needs momentum to go down and you see the Up Trend
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Don’t follow someone else’s trading advice blindly
  • #336,793
  • Mar 11, 2013 4:10pm Mar 11, 2013 4:10pm
Pretty crappy close for the daily candle. Closed red, but basically unchanged. Also got stopped out on my position from earlier @ B/E which is unfortunate, but those kind of things happen in trading and I'm just happy to have taken the trade I did and given myself a free chance at 500-1000 pips. Just surprised Cable wasn't good for another wave down as price bottomed out at a pretty random point in my opinion.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,794
  • Mar 11, 2013 4:14pm Mar 11, 2013 4:14pm
Quoting zusch
Pretty crappy close for the daily candle. Closed red, but basically unchanged. Also got stopped out on my position from earlier @ B/E which is unfortunate, but those kind of things happen in trading and I'm just happy to have taken the trade I did and given myself a free chance at 500-1000 pips. Just surprised Cable wasn't good for another wave down as price bottomed out at a pretty random point in my opinion.
its not random actually it has stopped at a very descent place..61.8 retrace on monthly and the support of a range which was previous resistance..this might be a area where price bounce back from..not holding my breath thou..

as tom says..i wish!!
  • #336,795
  • Edited 4:53pm Mar 11, 2013 4:38pm | Edited 4:53pm
Quoting nAVIN2007
its not random actually it has stopped at a very descent place..61.8 retrace on monthly and the support of a range which was previous resistance..this might be a area where price bounce back from..not holding my breath thou..

as tom says..i wish!!
I see how you arrived at those levels, but I don't use Fibs that way...and I don't look for any support/resistance (I don't want to confuse myself). Take today for example -- price topped out at what many would label a resistance zone, but I didn't need that drawn on my chart to tell me to trade that hourly bearish engulfing candle. Price action will ultimately tell you where supply/resistance is, which is the point I was trying to make this weekend.

Also, looks like I should've been taking trades on GBPAUD too...that pair trended very nicely and had some follow through after the initial move.

Edit: I do think your long's have some short term potential though. When a perfectly timed entry gets taken out at B/E...the trend is showing some weakness.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,796
  • Mar 12, 2013 2:13am Mar 12, 2013 2:13am
Gbp/Usd Buy 1.4885 stop loss 1.4845 tp 1.4990
  • #336,797
  • Mar 12, 2013 2:26am Mar 12, 2013 2:26am
Quoting shami farooq
Gbp/Usd Buy 1.4885 stop loss 1.4845 tp 1.4990
Took the same entry ... hopefully it works out.
  • #336,798
  • Mar 12, 2013 3:48am Mar 12, 2013 3:48am
Quoting zusch
I see how you arrived at those levels, but I don't use Fibs that way...and I don't look for any support/resistance (I don't want to confuse myself). Take today for example -- price topped out at what many would label a resistance zone, but I didn't need that drawn on my chart to tell me to trade that hourly bearish engulfing candle. Price action will ultimately tell you where supply/resistance is, which is the point I was trying to make this weekend.

Also, looks like I should've been taking trades on GBPAUD too...that pair trended very nicely and...

anything can happen after all it is a broadening traingle..yur analysis is interesting in the way u find a method to trade, i like the simplicity of it. The bottom line if it makes u money its great!!
  • #336,799
  • Mar 12, 2013 3:48am Mar 12, 2013 3:48am
Cable is a bit of a mess this morning. Looks like it is might be going for round 4 of a trend line right now.

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  • #336,800
  • Mar 12, 2013 4:11am Mar 12, 2013 4:11am
looks like this wants to rebound but I prefer to wait for the production numbers to come out before looking for longs
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