Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#135,101
Jun 2, 2009 7:40am Jun 2, 2009 7:40am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

1.6500 caps again ,but there is now a engulfing within the trading range and right now thats the only one that jumps out at me.
6340 was heavily defended.

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#135,102
Jun 2, 2009 8:20am Jun 2, 2009 8:20am

chonyc
| Joined Jan 2008 | Status: Speculator... | 124 Posts

there is also an engulfing candle on the H1 chart

Never Stop Learning...

#135,103
Jun 2, 2009 8:54am Jun 2, 2009 8:54am

mloistianto
Joined May 2009 | Status: Trader | 2,376 Posts | Online Now

gu cannot pass 38.2 fibo.. it is a very strong support...

#135,104
Jun 2, 2009 8:54am Jun 2, 2009 8:54am

4cfx
| Joined May 2009 | Status: Trader | 451 Posts

It looks like cable is testing 1.65 again. With upcoming news, maybe enough strength to push through?

#135,105
Jun 2, 2009 8:54am Jun 2, 2009 8:54am

4cfx
| Joined May 2009 | Status: Trader | 451 Posts

Quoting mloistianto

Disliked

gu cannot pass 38.2 fibo.. it is a very strong support...

Ignored

Which 38.2 fib are you referring to? 1.6427?

#135,106
Jun 2, 2009 9:06am Jun 2, 2009 9:06am

mloistianto
Joined May 2009 | Status: Trader | 2,376 Posts | Online Now

Quoting 4cfx

Disliked

Which 38.2 fib are you referring to? 1.6427?

Ignored

oopss.. i mean 61.8 fibo.. yes 1.6427 i suppose... say we should say goodbye to gu?

#135,107
Jun 2, 2009 9:15am Jun 2, 2009 9:15am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Yes a bearish one but H1 is a unreliable TF unless you already know what is happening on the higher time frames...

Quoting chonyc

Disliked

there is also an engulfing candle on the H1 chart

Ignored

On-site guru & also FF member's' psychiatrist, when not drinking tea

#135,108
Jun 2, 2009 9:29am Jun 2, 2009 9:29am

chonyc
| Joined Jan 2008 | Status: Speculator... | 124 Posts

Quoting Bones

Disliked

Yes a bearish one but H1 is a unreliable TF unless you already know what is happening on the higher time frames...

Ignored

Thanks...I use H1 for my entry and exit points that supports my analysis on higher H4 and Daily TF. And I was waiting for a comfirmation that did not happen...looks like the engulfing pattern was overcome by the move to 1.6535

Never Stop Learning...

#135,109
Jun 2, 2009 9:38am Jun 2, 2009 9:38am

kingindian
| Joined Apr 2009 | Status: escape artist | 442 Posts

hanging short .....

see if it has more fuel to goes up...

- Always pray on your trading - God know the best for everyone

#135,110
Jun 2, 2009 9:49am Jun 2, 2009 9:49am

errich fx
| Commercial User | Joined Mar 2009 | 778 Posts

next resistance is 607

________________________________

support resistance

.

#135,111
Jun 2, 2009 10:02am Jun 2, 2009 10:02am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Do you trade candlesticks?

Quoting chonyc

Disliked

Thanks...I use H1 for my entry and exit points that supports my analysis on higher H4 and Daily TF. And I was waiting for a comfirmation that did not happen...looks like the engulfing pattern was overcome by the move to 1.6535

Ignored

On-site guru & also FF member's' psychiatrist, when not drinking tea