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Long Term GBP/USD ( Warning Sign )

  • #21
  • Jun 24, 2008 12:53am Jun 24, 2008 12:53am
Looks like the daily top didn't get break the last time.

but the range is getting closer, and if you could see, it's like a base down,

it might get break up ...

what do you say?
Attached Image (click to enlarge)
Click to Enlarge Name: daily top.gif Size: 19 KB
  • #22
  • Jun 26, 2008 3:25am Jun 26, 2008 3:25am
Our last defense line in the daily was hit.

if today close was above 1.9780, that means an up trend for me.
  • #23
  • Jun 26, 2008 6:51am Jun 26, 2008 6:51am
as you can see now,
after breaking the upper limits,
price is climbing high,
it reached the 50% weekly fibo retracement at 1.9876
  • #24
  • Jun 27, 2008 5:40am Jun 27, 2008 5:40am
well,
up trend,
daily closed above the resistant trend line.

so,

wait until we retrace ( if we did, then buy. )
that will be my strategy now,
but after the weekly close.
Attached Image (click to enlarge)
Click to Enlarge Name: day.gif Size: 22 KB
  • #25
  • Jun 27, 2008 5:45am Jun 27, 2008 5:45am
Quoting tarektm
well,
up trend,
daily closed above the resistant trend line.

so,

wait until we retrace ( if we did, then buy. )
that will be my strategy now,
but after the weekly close.
hi tarektm..

may i know,when your floating short will close?
  • #26
  • Jun 27, 2008 6:26am Jun 27, 2008 6:26am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
good question lol it's so strange for someone who keep repeatedly yelling for long.....
  • #27
  • Jun 27, 2008 7:06am Jun 27, 2008 7:06am
hey tarek i posted the same chart with the cci trendline break and bounce on the cable thread 2 days ago
  • #28
  • Jun 27, 2008 10:37am Jun 27, 2008 10:37am
Quoting katerina
hi tarektm..

may i know,when your floating short will close?
already.
i only use metatrader for charts.
and that's a demo account
  • #29
  • Jun 27, 2008 10:40am Jun 27, 2008 10:40am
Quoting 007
good question lol it's so strange for someone who keep repeatedly yelling for long.....
answered above
  • #30
  • Jun 27, 2008 10:41am Jun 27, 2008 10:41am
Quoting boxingislife
hey tarek i posted the same chart with the cci trendline break and bounce on the cable thread 2 days ago
i have used your chart, as i was testing your method.

however i have a question,
how did you get that 55 period?
it's strange i never seen it before.
my system is build upon the 30 period
  • #31
  • Jun 27, 2008 10:46am Jun 27, 2008 10:46am
Quoting 007
good question lol it's so strange for someone who keep repeatedly yelling for long.....
i have a question to you.
did i hurt you when i told the price will bounce up like that?
i have suffered losses before and all i needed is to put a warning because i have seen it repeated.

so please i am yelling long just to let everyone knows that this might happened,
and you can see 500 pips up so far.
  • #32
  • Jun 27, 2008 10:49am Jun 27, 2008 10:49am
and for everyone who have longed.
the target is 1.9998, take profit will happened there.
because it is the weekly 61.8 fibonacci retracement.
  • #33
  • Jun 30, 2008 4:56pm Jun 30, 2008 4:56pm
looks like weekly break is confirmed, as well as the monthly.

our strategy now is wait until price goes down and buy.

plain and simple.
  • #34
  • Jul 2, 2008 12:36am Jul 2, 2008 12:36am
i can notice the price action tells that a down trend might be resumed.

anytime now,
but i think this will not happened until we test one target above.

so we will get back to that critical area again, and the same question should be asked again.

will we break this time?
  • #35
  • Jul 2, 2008 4:45am Jul 2, 2008 4:45am
we are going now to the 50% daily retracement,
will we rebound up from that level?
or will we head down directly from there after a small retracement?
  • #36
  • Jul 6, 2008 3:11am Jul 6, 2008 3:11am
Quoting Pidgeon
I'll follow it up or down. Either way we make money.
.
  • #37
  • Jul 6, 2008 3:22am Jul 6, 2008 3:22am
the main trend is going down,
we might go up,
but this is not a change in the trend direction as far as i could see.

So No worries from this move now.
  • #38
  • Jul 6, 2008 4:06am Jul 6, 2008 4:06am
-------- WARNING: DON'T TRADE BECAUSE OF MY OPINIONS --------
No, i think this is the end for your nice trip..
This was just a false breakout probably due to bad USD news and the market closed again below the trend line..
I am waiting to go short now..
Regards ya basha
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 11 KB
Click to Enlarge Name: 2.gif Size: 12 KB
  • #39
  • Jul 6, 2008 4:14am Jul 6, 2008 4:14am
Quoting taravolta
-------- WARNING: DON'T TRADE BECAUSE OF MY OPINIONS --------
No, i think this is the end for your nice trip..
This was just a false breakout probably due to bad USD news and the market closed again below the trend line..
I am waiting to go short now..
Regards ya basha
as a matter of fact,
the weekly chart shows a break on the trend for two weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 28 KB
  • #40
  • Jul 6, 2008 4:22am Jul 6, 2008 4:22am
Quoting tarektm
as a matter of fact,
the weekly chart shows a break on the trend for two weeks.

interesting..
let's wait n see
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