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Cable Update (GBPUSD)

  • #386,101
  • Jul 9, 2014 7:27am Jul 9, 2014 7:27am
Quoting albchr
{quote} My overall target for this retrace remains 6930/00. Just having fun calling the little moves along the way when the market is slooooowwww lol . Helps keep my eye sharp.
I hope so... quite nice area around 6900 but my target for today is roughly 7050... scaled out some earlier and the rest is bonus (maybe). We'll see. Yeah, I know, these type of moves are to stay focused, nothing too exciting. Did well today on FDAX, close to 40 points and now I can wait for WC semis in peace :-)
"A handful of patience is worth more than a bushel of brains"
  • #386,102
  • Jul 9, 2014 7:29am Jul 9, 2014 7:29am
Quoting elbert3
{quote} easy at the end of the day ??????lol,,if your serious i dont know Gm are you ref to your hammer and my dragonfly doji ?
Serious.Different feeds have different closing times and even different time zone settings...that causes different bars/candles on the charts.

You know what I mean?
Hear the music before the song is over ...
  • #386,103
  • Jul 9, 2014 7:31am Jul 9, 2014 7:31am
Quoting Iron Pawn
{quote} I hope so... quite nice area around 6900 but my target for today is roughly 7050... scaled out some earlier and the rest is bonus (maybe). We'll see. Yeah, I know, these type of moves are to stay focused, nothing too exciting. Did well today on FDAX, close to 40 points and now I can wait for WC semis in peace :-)
For today we're very close sir. Within 10 pips. I have 7060. I don't mean 6930/00 "today". Just for this retrace. Daily here (posted before this morning) shows my thoughts for today.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmdaily.PNG Size: 70 KB
Ghost Rider - WWTBMD?
  • #386,104
  • Jul 9, 2014 7:37am Jul 9, 2014 7:37am
gbp/usd long positioning is extreme as per BNP paribas and on a scale of -50 to 50 it is at 42 right now. there can be serious long unwinding if fomc disappoints for dollar bears
  • #386,105
  • Edited 9:01am Jul 9, 2014 7:37am | Edited 9:01am
Quoting spinozagr
{quote} I am not blame them besides there is a Rule in this life: the one who survives is the one who shows quick adaptation Venceremos
Would be a very chaotic life if one adapts to every single event in his life, especially to every single tick in the market.

Very chaotic, indeed.
Hear the music before the song is over ...
  • #386,106
  • Jul 9, 2014 7:38am Jul 9, 2014 7:38am
Quoting albchr
{quote} And who would that be GM?
LOL... no response? Guess we know who then eh Billy? I know why of course although I never would have thought it after so long but....oh well.
Ghost Rider - WWTBMD?
  • #386,107
  • Jul 9, 2014 7:39am Jul 9, 2014 7:39am
Quoting albchr
{quote} For today we're very close sir. Within 10 pips. I have 7060. I don't mean 6930/00 "today". Just for this retrace. Daily here (posted before this morning) shows my thoughts for today. {image}
Yeah, I know what you mean... for a substantial move need to sit on my hands (the hard part, right?). I prefer swings but this type of trades keep me focused. Usually I daytrade only futures (just indexes).
"A handful of patience is worth more than a bushel of brains"
  • #386,108
  • Jul 9, 2014 7:41am Jul 9, 2014 7:41am
Quoting elbert3
{quote} hi Tau lets see if heiken ashi will show the same change {image}
Good day, Sir E.

Yip - time will tell.

Looking at the 4hr though - there seems to be pressure building for a long scalp. So cleared my positions again. As soon as I receive a nett sell signal from the brokers data - I may go long again for the short term.

All the best
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 68 KB
  • #386,109
  • Jul 9, 2014 7:45am Jul 9, 2014 7:45am
Price rejected exactly at Daily S1. Now that the High & Low of the day defined, I think price will be ranged until FOMC, could break either sides.

Edit: Small long entered, target today open, SL day low
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 52 KB
That which does not kill us makes us stronger
  • #386,110
  • Jul 9, 2014 7:48am Jul 9, 2014 7:48am
cable is printing in lower highs. measured target of the downmove is 1.7056 for today and I don't see out out of question
  • #386,111
  • Jul 9, 2014 7:50am Jul 9, 2014 7:50am
Quoting Iron Pawn
{quote} Yeah, I know what you mean... for a substantial move need to sit on my hands (the hard part, right?). I prefer swings but this type of trades keep me focused. Usually I daytrade only futures (just indexes).
Yep. And no guarantee it will even reach that. Retraces are the hardest to call. Anyone can follow the "big trend" with ease. It's the intraday stuff that's the challenge in actually reading the market. That's what I like to test myself with.

My overall (unchanged) BIG view of the market (specifically this pair) that "some" would mock me from behind hidden words goes back further than this (may 18) but I'm too lazy to go look any further. http://www.forexfactory.com/showthre...71#post7476071

Every post forward remains the same. But that BIG view has little to do with intraday. It seems "some" folks can't follow such things though.
Ghost Rider - WWTBMD?
  • #386,112
  • Jul 9, 2014 7:57am Jul 9, 2014 7:57am
Quoting GlobalMacro
{quote} Serious.Different feeds have different closing times and even different time zone settings...that causes different bars/candles on the charts. You know what I mean?
yes i know but when you posted your day and my day you can see the difference ,put up your weekly now if your there
  • #386,113
  • Jul 9, 2014 7:58am Jul 9, 2014 7:58am
Another level broken and being tested. This is getting old. Have a good day folks.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #386,114
  • Jul 9, 2014 7:59am Jul 9, 2014 7:59am
Quoting albchr
{quote} LOL... no response? Guess we know who then eh Billy? I know why of course although I never would have thought it after so long but....oh well.
come on guys
  • #386,115
  • Jul 9, 2014 7:59am Jul 9, 2014 7:59am
Quoting albchr
{quote} Yep. And no guarantee it will even reach that. Retraces are the hardest to call. Anyone can follow the "big trend" with ease. It's the intraday stuff that's the challenge in actually reading the market. That's what I like to test myself with. My overall (unchanged) BIG view of the market (specifically this pair) that "some" would mock me from behind hidden words goes back further than this but I'm too lazy to go look any further. http://www.forexfactory.com/showthre...71#post7476071 Every post forward remains the same....
Yeah, totally agree... it's not possible to increase chances of having a successful trade without larger picture (cliché I know) but that picture must be seen in a specific way. You are right, intraday is quite tricky, not to mention daytrade. What I noticed is that expectations of trades are either too high or too low. Funny staff. Balance must be found but easier said then done. Let's see NY open for S&P, I'm curious :-)
"A handful of patience is worth more than a bushel of brains"
  • #386,116
  • Jul 9, 2014 8:03am Jul 9, 2014 8:03am
Quoting Iron Pawn
{quote} Yeah, totally agree... it's not possible to increase chances of having a successful trade without larger picture (cliché I know) but that picture must be seen in a specific way. You are right, intraday is quite tricky, not to mention daytrade. What I noticed is that expectations of trades are either too high or too low. Funny staff. Balance must be found but easier said then done. Let's see NY open for S&P, I'm curious :-)
Nothing cliché about IMHO sir. A very necessary part of the whole. I'm thinking the FOMC will let us know whether the retrace will be that deep or now. But that's only "thinking", not following price.
Ghost Rider - WWTBMD?
  • #386,117
  • Jul 9, 2014 8:06am Jul 9, 2014 8:06am
Quoting elbert3
{quote} come on guys
LOL... no worries mate. You know me, I have no time for such things.

Attached Image


Anyway, gotta run now. Good trades everyone.
Ghost Rider - WWTBMD?
  • #386,118
  • Jul 9, 2014 8:06am Jul 9, 2014 8:06am
Terrible to see how small the ranges have become in terms of pip count.. nowadays one can expect to extract from the 4hr charts, the type of pips one used to be able to get from the 1hr chart...
  • #386,119
  • Jul 9, 2014 8:07am Jul 9, 2014 8:07am
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 104 KB
on this 4 hour if your short we are looking to consolidate around this level ,if the cross over occurs between the yellow 50 ema and this goes to the top for me it is a stronger sell ,if it breaks 708 then this should become resistance to the up,and maybe we will see crossover
  • #386,120
  • Jul 9, 2014 8:12am Jul 9, 2014 8:12am
Mr Scott , i think the weekend could see a lot of drinking going on, just debating a Jersey trip on the profits lol,,
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