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Cable Update (GBPUSD)

  • #384,601
  • Jul 1, 2014 6:25am Jul 1, 2014 6:25am
From current levels, we could see GBPUSD witnessing some profit taking and drop to 1.7060-50 horizontal support.
Attached Image
  • #384,602
  • Jul 1, 2014 6:25am Jul 1, 2014 6:25am
Quoting navk
{quote} Those stops have been taken and it moved up to 7147. Now the level (7150) mentioned there is holing up.
do you understand the meaning of sell stops. how can sell stops be taken out when market rallies to 7147. I think u need some education
  • #384,603
  • Jul 1, 2014 6:28am Jul 1, 2014 6:28am
Quoting giveachance
{quote} do you understand the meaning of sell stops. how can sell stops be taken out when market rallies to 7147. I think u need some education
No,

When the price moved up from 7094, first it has taken 1.7030, stops hit, ran towards 7150 and holding.

This is the way you must read.
Intraday only.
  • #384,604
  • Jul 1, 2014 6:30am Jul 1, 2014 6:30am
1.7090 was held when the price hit 1.7094.
Intraday only.
  • #384,605
  • Jul 1, 2014 6:31am Jul 1, 2014 6:31am
Read there : Bids and offers.

1.7130 is in offers.
Intraday only.
  • #384,606
  • Jul 1, 2014 6:34am Jul 1, 2014 6:34am
Quoting navk
{quote} No, When the price moved up from 7094, first it has taken 1.7030, stops hit, ran towards 7150 and holding. This is the way you must read.
Quoting navk
1.7090 was held when the price hit 1.7094.
Quoting navk
Read there : Bids and offers. 1.7130 is in offers.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm5.png Size: 66 KB
Ghost Rider - WWTBMD?
  • #384,607
  • Jul 1, 2014 6:37am Jul 1, 2014 6:37am
Quoting albchr
{quote} {quote} {quote} {image}
Yeah I agree, resistance turned support now at 7130.
Intraday only.
  • #384,608
  • Jul 1, 2014 6:39am Jul 1, 2014 6:39am
Quoting albchr
{quote} {quote} {quote} {image}
May this is now sell stop.
Intraday only.
  • #384,609
  • Jul 1, 2014 6:40am Jul 1, 2014 6:40am
Quoting albchr
{quote} {quote} {quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 30.png Size: 91 KB
i like this 30 min chart
  • #384,610
  • Jul 1, 2014 6:49am Jul 1, 2014 6:49am
Quoting navk
{quote} May this is now sell stop.
For me, if I were looking for a short, just below 7120/15
Ghost Rider - WWTBMD?
  • #384,611
  • Jul 1, 2014 6:51am Jul 1, 2014 6:51am
Quoting albchr
{quote} For me, if I were looking for a short, just below 7120/15
Some EMA's around 7110/20
Intraday only.
  • #384,612
  • Jul 1, 2014 6:52am Jul 1, 2014 6:52am
Quoting elbert3
{quote} {image} i like this 30 min chart
To me, the TF doesn't really matter. The PA structure is the same. You can just see it better on the smaller guys. The TF only matters for defining the range in which you're working.
Ghost Rider - WWTBMD?
  • #384,613
  • Jul 1, 2014 6:53am Jul 1, 2014 6:53am
In Asia, 200 EMA held ( 7094).

Currently 200 EMA at 7110.
Intraday only.
  • #384,614
  • Jul 1, 2014 6:58am Jul 1, 2014 6:58am
Quoting navk
{quote} Some EMA's around 7110/20
Yeah, if I were to go for that short I'd have a tight stop just above the current SD of 7130. But this seems just as obvious as every other climb as of now.

To me, PA has already determined direction. We're just waiting for a catalyst. So the question for me is, what will "likely" happen when it comes?
Attached Image (click to enlarge)
Click to Enlarge Name: News.PNG Size: 4 KB


Barely a second touch of supply and boom, right back up.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm5.png Size: 56 KB
Ghost Rider - WWTBMD?
  • #384,615
  • Jul 1, 2014 7:01am Jul 1, 2014 7:01am
Quoting albchr
{quote} To me, the TF doesn't really matter. The PA structure is the same. You can just see it better on the smaller guys. The TF only matters for defining the range in which you're working.
ok dad xxxxx lol
  • #384,616
  • Jul 1, 2014 7:04am Jul 1, 2014 7:04am
Quoting albchr
{quote} Yeah, if were to go for that short I'd have a tight stop just above the current SD of 7130. But this seems just as obvious as every other climb as of now. To me, PA has already determined direction. We're just waiting for a catalyst. So the question for me is, what will "likely" happen when it comes? {image} Barely a second touch of supply and boom, right back up. {image}
do you pull the plug or move to next resistance 65 ????? that 60 pips more than now on 5 shorts spread ????
  • #384,617
  • Jul 1, 2014 7:05am Jul 1, 2014 7:05am
Quoting albchr
{quote} Yeah, if were to go for that short I'd have a tight stop just above the current SD of 7130. But this seems just as obvious as every other climb as of now. To me, PA has already determined direction. We're just waiting for a catalyst. So the question for me is, what will "likely" happen when it comes? {image} Barely a second touch of supply and boom, right back up. {image}
Construction activity tomorrow
Services activity day after tomorrow.

if all in green, 172>

on the other hand we could sell off anytime.
No emotions, just trade
  • #384,618
  • Jul 1, 2014 7:05am Jul 1, 2014 7:05am
Quoting elbert3
{quote} ok dad xxxxx lol
Have you looked at your chart.....son? .... xxxxxx
Ghost Rider - WWTBMD?
  • #384,619
  • Jul 1, 2014 7:05am Jul 1, 2014 7:05am
past 1.7155 is 1.7171
  • #384,620
  • Jul 1, 2014 7:06am Jul 1, 2014 7:06am
does anyone think cable seems a little out of control at the moment?
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