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Cable Update (GBPUSD)

  • #135,861
  • Jun 7, 2009 8:07pm Jun 7, 2009 8:07pm
Quoting jack.canadia
Ill first look to sell at 6090 but if that level doesnt hold then 6240

Hi Jack

Thats the 50 and 100% retracement levels, don't you like the 23.6 and 38.2% fibs?
  • #135,862
  • Jun 7, 2009 8:32pm Jun 7, 2009 8:32pm
Quoting alex1976
Hi Jack

Thats the 50 and 100% retracement levels, don't you like the 23.6 and 38.2% fibs?
I've found that the pound tends to find resistance between 38.2 and 61.8 .. 50% has been the one i rely most on and it just so happens that the 50 overlaps exactly with recent support
  • #135,863
  • Jun 7, 2009 9:02pm Jun 7, 2009 9:02pm
Here my GU plan for right now


http://www.forexfactory.com/showpost...39&postcount=7
  • #135,864
  • Jun 7, 2009 10:19pm Jun 7, 2009 10:19pm
looks like this short just turned into a potential long, as it has broken down once again.
  • #135,865
  • Jun 7, 2009 10:24pm Jun 7, 2009 10:24pm
let me long here for 20 pips see if it works.

long @ 1.5931 sl @ 15920 tp @
  • #135,866
  • Jun 7, 2009 10:29pm Jun 7, 2009 10:29pm
Quoting alex1976
looks like this short just turned into a potential long, as it has broken down once again.
Possibly .. I wont take it .. looking to short higher up. Good luck to those that do
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  • #135,867
  • Edited 10:56pm Jun 7, 2009 10:37pm | Edited 10:56pm
Quoting Angelina
let me long here for 20 pips see if it works.

long @ 1.5931 sl @ 15920 tp @

moved sl at BE no risk ^^


1 more pip to hit my BE but it didnot lolz
  • #135,868
  • Jun 7, 2009 10:42pm Jun 7, 2009 10:42pm
Cable is now trading below 6000 level. We consolidated for nearly a week the last time pa was at this level. Will history repeat itself? I'd like to think so, because we'll get the left shoulder if it did.
Anyway, if you're still holding short like me, I suggest you book your profit , go back to bed or grab a popcorn & watch the massacre

Good luck everyone
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Thank You
  • #135,869
  • Jun 7, 2009 11:17pm Jun 7, 2009 11:17pm
Quoting Angelina
moved sl at BE no risk ^^


1 more pip to hit my BE but it didnot lolz
Pretty tight... Watch out.. Good that u moved your sl to BE..
  • #135,870
  • Jun 7, 2009 11:20pm Jun 7, 2009 11:20pm
So far it is difficult to say what today will bring, however I think we will see a little retesting soon. So far we went through the 1.6000 level too easily so I feel there is no liquidity. That should change during London hours, hopefully.

We have a little bit of room to go on the daily chart before it hits the 25 EMA (very accurate indicator the big dogs use). Doesn't mean that the market won't blow through it but it should be serious resistence. The 25 EMA for the daily chart is sitting at 1.5736 so we still have a way to go. The daily stochastic is starting to show oversold and we still have a quite a bit of upside on the monthly chart.

So this week should give us a better idea of what to expect for awhile.
  • #135,871
  • Jun 7, 2009 11:56pm Jun 7, 2009 11:56pm
Brothers,

I usually see a move, sometime large, 1 or 2 hours before London opens, anybody knows this behaviour can share?. I known that this time Sydney and Tokyo in active. Great thanks.
  • #135,872
  • Jun 8, 2009 1:18am Jun 8, 2009 1:18am
Quoting Exciter135
Brothers,

I usually see a move, sometime large, 1 or 2 hours before London opens, anybody knows this behaviour can share?. I known that this time Sydney and Tokyo in active. Great thanks.
I believe that Frankfurt opens 1 hour before London does
  • #135,873
  • Jun 8, 2009 1:34am Jun 8, 2009 1:34am
Quoting Wharfe
I believe that Frankfurt opens 1 hour before London does
enlightened. Thanks brother
  • #135,874
  • Jun 8, 2009 1:41am Jun 8, 2009 1:41am
1,6002 - 1,6043 - 1,6098 - 1,6148 - 1,6178

1,5949

1,5909 - 1,5878 - 1,584 - 1,5777 - 1,5722

---------------------

support resistance

.
  • #135,875
  • Jun 8, 2009 1:46am Jun 8, 2009 1:46am
Quoting Wharfe
I believe that Frankfurt opens 1 hour before London does
you are right... 1 CST is always volatile.... i use it for best indication of what will happen for the next two hours
  • #135,876
  • Jun 8, 2009 2:01am Jun 8, 2009 2:01am
Good morning everyone. Hope you all had a nice weekend.
  • #135,877
  • Jun 8, 2009 2:22am Jun 8, 2009 2:22am
Hi folks, hope you all had a nice weekend....for now am sitting on my hands, watching what happens next.
  • #135,878
  • Jun 8, 2009 2:49am Jun 8, 2009 2:49am
Quoting made4life
Hi folks, hope you all had a nice weekend....for now am sitting on my hands, watching what happens next.
Taken short action?
  • #135,879
  • Jun 8, 2009 2:58am Jun 8, 2009 2:58am
1.52 will be ultimate correction, if down more, will be a real down.
  • #135,880
  • Jun 8, 2009 3:03am Jun 8, 2009 3:03am
Quoting Exciter135
Brothers,

I usually see a move, sometime large, 1 or 2 hours before London opens, anybody knows this behaviour can share?. I known that this time Sydney and Tokyo in active. Great thanks.
This is very true. Sometimes it is even 3 hours before hand. Unfortuneately this didn't really happen tonight. Just been an annoying choppy move down. It is at a critical point now though. The 25 EMA for the Daily chart is currently at 1.5728. There has been a rejection at 1.5800 but not sure if it will hold. I am not convinced that the Daily 25 EMA will be breached, although it can happen. If it is broken we most likely will see a very decent decline this week, and maybe even next. We broke through the last resistence very easily but I just don't think there is much liquidity tonight. The next support area (if the Daily 25 EMA is broken) is around the 1.5200 area.

If the daily 25 EMA is not broken we could see a nice run up this week. A lot of times Sunday (Monday for many of you) can be the opposite of the rest of the week. We will see.
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