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Cable Update (GBPUSD)

  • #338,961
  • Apr 17, 2013 9:35am Apr 17, 2013 9:35am
Cable not follow EUR/USD right now may be suggesting that this is about as far as it will fall today when you consider they typically have a fair amount of correlation.
  • #338,962
  • Apr 17, 2013 9:48am Apr 17, 2013 9:48am
Quoting blobsaudio
Cable not follow EUR/USD right now may be suggesting that this is about as far as it will fall today when you consider they typically have a fair amount of correlation.
i hope everyone is well..

this what happened today.. since asian, i saw price forming dojis just above the support zone which means no clean breakout. i decided to cancel my PO and leave cable alone, since at that time several thing confusing me..

However, i go short on fiber as price seems unable to break 3200.. i'm hoping, for cable, price will be able to break 5220 and i will go short on the retest.
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  • #338,963
  • Apr 17, 2013 10:02am Apr 17, 2013 10:02am
Quoting A-speculator
i hope everyone is well.. this what happened today.. since asian, i saw price forming dojis just above the support zone which means no clean breakout. i decided to cancel my PO and leave cable alone, since at that time several thing confusing me.. However, i go short on fiber as price seems unable to break 3200.. i'm hoping, for cable, price will be able to break 5220 and i will go short on the retest. {image} {image}
Like a total idiot I have been watching cable fall all day wondering why, well I had a rough idea after it rejected around 1.538x yesterday but wasn't expecting that much of a drop.

EUR/USD looked like it was preparing to make another run at 1.32 around the 1.3135 area, the ECB soon put a stop to that and my long and a demo long I had on EJ (testing my mop up strategy on the yen pairs)
  • #338,964
  • Apr 17, 2013 10:15am Apr 17, 2013 10:15am
Quoting blobsaudio
Like a total idiot I have been watching cable fall all day wondering why, well I had a rough idea after it rejected around 1.538x yesterday but wasn't expecting that much of a drop. EUR/USD looked like it was preparing to make another run at 1.32 around the 1.3135 area, the ECB soon put a stop to that and my long and a demo long I had on EJ (testing my mop up strategy on the yen pairs)
that thing confusing me either during asian today, that is why i decided to leave it alone and start shorting after 5220 breakout.

fiber i hope to see 24xx area at least, best is 20xx.
  • #338,965
  • Apr 17, 2013 10:23am Apr 17, 2013 10:23am
Quoting A-speculator
that thing confusing me either during asian today, that is why i decided to leave it alone and start shorting after 5220 breakout. fiber i hope to see 24xx area at least, best is 20xx.
I think we have a good chance of a bounce here(keep in mind my last 12 or so trades have been BE or losses). Divergence on 1HR RSI, divergence forming on 4HR stochastic, the failure to follow EUR/USD in the past hour through 1.5220 and most importantly this:

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  • #338,966
  • Apr 17, 2013 10:27am Apr 17, 2013 10:27am
Quoting blobsaudio
I think we have a good chance of a bounce here(keep in mind my last 12 or so trades have been BE or losses). Divergence on 1HR RSI, divergence forming on 4HR stochastic, the failure to follow EUR/USD in the past hour through 1.5220 and most importantly this: {image}
maybe for today.. i have that line also as support. my price as support is about 3050
  • #338,967
  • Apr 17, 2013 10:32am Apr 17, 2013 10:32am
Quoting A-speculator
maybe for today.. i have that line also as support. my price as support is about 3050
fiber, this is based on 1h, i have cleared my lower position and hope to reenter at the upper level..

cable on the other hand seems find support at about 5220.. will decide entry later, maybe during asian session.
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  • #338,968
  • Apr 17, 2013 10:32am Apr 17, 2013 10:32am
INTERESTING level here. 50 back bounce... now back to historically valuable level. I have my guesses!
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  • #338,969
  • Apr 17, 2013 10:36am Apr 17, 2013 10:36am
I am waiting short near 1.5268 and the target is 1.5202

Attached Image
  • #338,970
  • Apr 17, 2013 11:09am Apr 17, 2013 11:09am
Quoting A-speculator
maybe for today.. i have that line also as support. my price as support is about 3050
As long as it doesn't turn into another BE trade I will happy with it only reaching 1.5290.

Looking for a break above the last candles high this hour which should cement it.
  • #338,971
  • Apr 17, 2013 11:13am Apr 17, 2013 11:13am
eu
eg
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,972
  • Apr 17, 2013 11:17am Apr 17, 2013 11:17am
Quoting blobsaudio
One to wait for, a spot of divergence forming on the 4HR TF {image}
Ladies and gents, I give you the thread's divergence detector/indicator...... (drum roll) ... blobsaudio...

NOTE: @blobsaudio hey buddy, I really don't mean to cause any misunderstandings. I just thought it it would be nice to break the tension on the thread and your post was the inspiration. I really love your posts and your views.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #338,973
  • Apr 17, 2013 11:18am Apr 17, 2013 11:18am
Quoting blobsaudio
As long as it doesn't turn into another BE trade I will happy with it only reaching 1.5290. Looking for a break above the last candles high this hour which should cement it.
i'm thinking to reenter at 5295.. lol.

where is your price? if in the 52xx region, why you enter so low?
  • #338,974
  • Apr 17, 2013 11:22am Apr 17, 2013 11:22am
Quoting Bones
eu eg {image} {image}
hopefully, just left 2 days to make the move conclusive.. let's wait for the confirmed breakout of the low..
  • #338,975
  • Apr 17, 2013 11:24am Apr 17, 2013 11:24am
Quoting A-speculator
i'm thinking to reenter at 5295.. lol. where is your price? if in the 52xx region, why you enter so low?
I entered long at 1.5245, SL's were at BE and just got hit was rather tight but tight SL's have saved me loosing a lot of pips this week.

If it goes above 1.5265 by 6pm BST I will renter long.
  • #338,976
  • Apr 17, 2013 11:25am Apr 17, 2013 11:25am
Ok like i was thinking we hit 5217 now next level 5180. I will long here. If not then will wait continuation to 5135 if not then 5032 if not then will start to short pound at the first retracement levels. so that the plan. There was a hiden sign last week when second wave didnt broke 5420 level.
That was a clear sign of bull weakness.

speaking fundalmentally tomorow retail sales will add fuel for the bears i think.
  • #338,977
  • Apr 17, 2013 11:28am Apr 17, 2013 11:28am
Quoting blobsaudio
I entered long at 1.5245, SL's were at BE and just got hit was rather tight but tight SL's have saved me loosing a lot of pips this week. If it goes above 1.5265 by 6pm BST I will renter long.
imho, don't long mate but rather wait for short opportunities.. and keep your hard earned profits.
  • #338,978
  • Apr 17, 2013 11:34am Apr 17, 2013 11:34am
Quoting baherhosni
Ladies and gents, I give you the thread's divergence detector/indicator...... (drum roll) ... blobsaudio... NOTE: @blobsaudio hey buddy, I really don't mean to cause any misunderstandings. I just thought it it would be nice to break the tension on the thread and your post was the inspiration. I really love your posts and your views.
No worries
  • #338,979
  • Edited 11:55am Apr 17, 2013 11:40am | Edited 11:55am
Quoting A-speculator
imho, don't long mate but rather wait for short opportunities.. and keep your hard earned profits.
No hard earned profits to loose, the account is down -20% through a series of not running SL's, bending my rules, increasing the lot size and then getting a loosing trade as soon as I do it, entering into price zones either by rushing to hit by or sell or it was before I learned about them and over trading.

I have finally ironed all those things out of my trading.
  • #338,980
  • Apr 17, 2013 12:59pm Apr 17, 2013 12:59pm
Quoting blobsaudio
No hard earned profits to loose, the account is down -20% through a series of not running SL's, bending my rules, increasing the lot size and then getting a loosing trade as soon as I do it, entering into price zones either by rushing to hit by or sell or it was before I learned about them and over trading. I have finally ironed all those things out of my trading.
nice to hear that..

it's ok missed the train rather than in the wrong train..
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