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- thegunslinger replied Jun 27, 2012
Last 4H bar was a decent pin bar off our 61% fib retrace that's strong S/R. Price broke through several important levels this morning that it needs to retest to confirm: 1.5589 and 1.5572/78. I think price will retest these before the London open ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 27, 2012
Redemption at last! Didn't do too well yesterday when the market roared back against my short positions. My analysis was this market was going back down again, but I should have realized PA needed to either go sideways a bit or retrace up to give it ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 25, 2012
We've broken below the uptrend channel that's dominated most of June. Today was a retest of the major support-turned-resistance level around 1.567x. I think our next stop is 1.5470's support. I've got a short position opened @ 1.5560. TP 1.5480. SL ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 22, 2012
There is a lot going on in this price range. Big numbers, previously big areas of S/R, pivots, fib levels, etc. Most of this is highlighted in other posts above.
Cable Update (GBPUSD)
- thegunslinger replied Jun 22, 2012
Last 4H candle was a bearish engulfing. It also closed below the major trend channel. Strong area of support just below us, though price did not respect it last Friday. Very wild back and forth PA this morning makes me tentative to enter right now. ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 21, 2012
I'd target maybe half that. Don't think we'll see > 5640 at this point.
Cable Update (GBPUSD)
- thegunslinger replied Jun 21, 2012
Well that was a short stay. Price bounced right off a 1.5638. Scalped a few pips figuring it would retrace back to the 1.5658 level to retest that as resistance. But it didn't resist much!
Cable Update (GBPUSD)
- thegunslinger replied Jun 21, 2012
Big test of 1.5658 — Confluence of two Fib retracement lines here.
Cable Update (GBPUSD)
- thegunslinger replied Jun 20, 2012
Yup Eggs. But some tough support to break through around 1.565x. Both this uptrends 23% retrace and the 38% for the major downtrend of May line up almost perfectly now. This was tested extensively as support in late May before it finally was busted. ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 20, 2012
Good afternoon fellas. Locked in some nice pips. I shorted once price confirmed the flip of our overnight support level @ 1.5725 turned resistance. If the 4H bar closes < 1.5700 then I believe we're headed back down to 1.5641.
Cable Update (GBPUSD)
- thegunslinger replied Jun 20, 2012
PA hints at the uptrend weakening. Price respected the TL earlier this morning. Waiting for a good trade to materialize though as right now the market is waiting with baited breath on the Fed and not confident enough of a direction to go yet. 4H ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 19, 2012
Welp, was wrong on the short. No biggie since MM limited the loss to nothing significant. Boy did that take off like a rocket. I'm not new to FF, but I've been away from Forex for a little while. Life got busy and pulled me away. But I'm back now ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 19, 2012
I don't like the calls for GU going higher. 1.5700 is putting up stiff resistance and the last swing high failed to take out the previous high from Friday. PA is showing bearish sentiment. I sold @ 1.5692 with a tight SL.
Cable Update (GBPUSD)
- thegunslinger replied Jun 18, 2012
Good morning fellas, Started the week off on a good foot. Took a short at the open yesterday afternoon which payed off retracing back to S at the 1.564x level. Getting that first trade is always good for the psyche. Waiting now to see which way the ...
Cable Update (GBPUSD)
- thegunslinger replied Jun 13, 2012
Been awhile since I stuck my head into these forums. G/U 4H - shows a bullish flag pattern. Strong R @ the 1.558x level which is now being tested for the 4th time. The next level of strong R is 1.563x which has not been restested as R since we ...
Cable Update (GBPUSD)
- thegunslinger replied Oct 31, 2011
Damn. I only had a few mins to look over the charts last night and my initial thought was "short AUD/USD." But I didn't and now look what it's done.
Price Action and Trading Discussion
- thegunslinger replied Oct 28, 2011
Closed out at 1.0670. Didn't like that it hadn't broken below 1.0660 in 3 attempts. And now we're back above 1.0700 so a smart call.
Price Action and Trading Discussion
- thegunslinger replied Oct 28, 2011
Missed my TP by 4 pips. But price action still looks conducive for more downwards movement so I'm holding. Stop set to conserve 15 pips of profit.
Price Action and Trading Discussion
- thegunslinger replied Oct 27, 2011
Failure to break previous high — Just illustrating my last post. Failure to break above previous swing high.
Price Action and Trading Discussion
- thegunslinger replied Oct 27, 2011
I took the same exact AUD/USD trade, but I had set my TP to the 1.0630 R level. I'm now fading the rally with a short @ 1.720 with a TP at 1.0640. My thought being that we'll see some profit taking after this rally and price needs to retest the ...
Price Action and Trading Discussion