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Cable Update (GBPUSD)

  • #137,881
  • Jun 17, 2009 4:47pm Jun 17, 2009 4:47pm
Quoting jack.canadia
ya could be .. its possible its getting marked up before getting sold .. below that trendline i posted i am still bearish .. am holding a short from 6440 .. hourly close below 6430, a larger 38.2% fib from 2.12, will all be bearish imo

was just looking at 1 hour vol ... if all that vol last hour of US markets was buying where did they all go ? I think mark up and hidden selling .. shake out of weak short holders and trying to dry up demand.

IMHO 1.6000 is on its way as long as 1.6500 holds.
Blogging daily now at www.volume.zone
  • #137,882
  • Jun 17, 2009 4:50pm Jun 17, 2009 4:50pm
Quoting malcolmb14
was just looking at 1 hour vol ... if all that vol last hour of US markets was buying where did they all go ? I think mark up and hidden selling .. shake out of weak short holders and trying to dry up demand.

IMHO 1.6000 is on its way as long as 1.6500 holds.
sweet.. it would be nice if someone in here had access to futures data. .. that way we could see what the volumes were looking like at each price level
  • #137,883
  • Jun 17, 2009 4:51pm Jun 17, 2009 4:51pm
Quoting jack.canadia
sweet.. it would be nice if someone in here had access to futures data. .. that way we could see what the volumes were looking like at each price level
a break below that base of the triangle would confirm your view imo.
  • #137,884
  • Jun 17, 2009 4:57pm Jun 17, 2009 4:57pm
Sorry i do not post often in here forgot to add chart and resoning last post. i am on VSA and auslanos threads as I am gj trader

Here we have GU 60 min

OK who was buying on up move ? low volume .. what a shake out ...Designed to catch Geppy , but with courage and determination they held on .

Price stops right under the lower value area of yesterday = bearish on its own

we know have a bearish triangle / wedge or what ever that thing is called.

As long as we get lower highs on the high pivotsa that base of the triangle will be tested , with move into that high volume pivot zone of 6154 , then another bounce , maybe of 150 pis or so , then a move down to test 1.6000.

all of this is based on 1.6500 holding

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  • #137,885
  • Jun 17, 2009 4:57pm Jun 17, 2009 4:57pm
Quoting jack.canadia
a break below that base of the triangle would confirm your view imo.
Hey Jack still holding your shorts, I have 2 position kicking to the downside.
@ 1.6320 and 1.6380.....SL is 1.6500......TP.....open.

I favor the short break.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #137,886
  • Jun 17, 2009 4:58pm Jun 17, 2009 4:58pm
This is my view :
1.red scenario - high probability of complete bat bullish harmonic pattern ;
2. yellow scenario - less probability of complete butterfly bullish harmonic pattern ;
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  • #137,887
  • Jun 17, 2009 5:04pm Jun 17, 2009 5:04pm
morning fellas.
bb still short? went to bed and woke up with a 100pips the wrong way
Thank You
  • #137,888
  • Jun 17, 2009 5:08pm Jun 17, 2009 5:08pm
Quoting wormboy
morning fellas.
bb still short? went to bed and woke up with a 100pips the wrong way

Hold tight bro, I have 2 on the board....I'm also in -80pip for one and the other around break even. SL is 1.6500
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #137,889
  • Jun 17, 2009 5:10pm Jun 17, 2009 5:10pm
Quoting malcolmb14
Sorry i do not post often in here forgot to add chart and resoning last post. i am on VSA and auslanos threads as I am gj trader

Here we have GU 60 min

OK who was buying on up move ? low volume .. what a shake out ...Designed to catch Geppy , but with courage and determination they held on .

Price stops right under the lower value area of yesterday = bearish on its own

we know have a bearish triangle / wedge or what ever that thing is called.

As long as we get lower highs on the high pivotsa that base of the triangle will be tested...
Nice man! please post the vsa info in here more often!
  • #137,890
  • Jun 17, 2009 5:11pm Jun 17, 2009 5:11pm
Quoting jack.canadia
sweet.. it would be nice if someone in here had access to futures data. .. that way we could see what the volumes were looking like at each price level
Isnt the CTO (or CTR, is it) data available every so often during the month to the public? seems like I've read about that a few times... Its basically that, shows demand and selling quantities for various currencies
  • #137,891
  • Jun 17, 2009 5:12pm Jun 17, 2009 5:12pm
Quoting Bull_Bear
Hey Jack still holding your shorts, I have 2 position kicking to the downside.
@ 1.6320 and 1.6380.....SL is 1.6500......TP.....open.

I favor the short break.
I took a quick scalo from 6440 .. have a small short still open from 6345

I, too, favor the short side. The triangle projects back down to 5800 as well so we could be in for a nice ride!
  • #137,892
  • Jun 17, 2009 5:13pm Jun 17, 2009 5:13pm
Quoting Fibonatzi
This is my view :
1.red scenario - high probability of complete bat bullish harmonic pattern ;
2. yellow scenario - less probability of complete butterfly bullish harmonic pattern ;
nice you bat takes us down to 5300 .. a place wormboy and I like very much!

finally some more life up in here!
  • #137,893
  • Jun 17, 2009 5:15pm Jun 17, 2009 5:15pm
Quoting wormboy
morning fellas.
bb still short? went to bed and woke up with a 100pips the wrong way
i took a hit too man, not a bad one .. small hits can hurt too tho haha .. just blew through the level harddd! lol
  • #137,894
  • Jun 17, 2009 5:17pm Jun 17, 2009 5:17pm
Quoting malcolmb14
Sorry i do not post often in here forgot to add chart and resoning last post. i am on VSA and auslanos threads as I am gj trader

Here we have GU 60 min

OK who was buying on up move ? low volume .. what a shake out ...Designed to catch Geppy , but with courage and determination they held on .

Price stops right under the lower value area of yesterday = bearish on its own

we know have a bearish triangle / wedge or what ever that thing is called.

As long as we get lower highs on the high pivotsa that base of the triangle will be tested...
i also like those higher volume, smaller spread bars near the descending part of the triangle .. and the low vol up moves does indeed show no 'smart money' interest in the long side..

hopefully she works out to our favor!
  • #137,895
  • Jun 17, 2009 5:17pm Jun 17, 2009 5:17pm
Quoting Bull_Bear
Hold tight bro, I have 2 on the board....I'm also in -80pip for one and the other around break even. SL is 1.6500
-80 & stop @6500? Okay now that's creepy
Punch the numbers bro : http://www.forexfactory.com/showpost...postcount=1395

Told ya
Thank You
  • #137,896
  • Jun 17, 2009 5:20pm Jun 17, 2009 5:20pm
Quoting wormboy
-80 & stop @6500? Okay now that's creepy
Punch the numbers bro : http://www.forexfactory.com/showpost...postcount=1395

Told ya
in that post you refer too.. love the "we're diving" comment hahaha
  • #137,897
  • Jun 17, 2009 5:21pm Jun 17, 2009 5:21pm
Quoting wormboy
-80 & stop @6500? Okay now that's creepy
Punch the numbers bro : http://www.forexfactory.com/showpost...postcount=1395

Told ya
Good to know we on the same wave length mate
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #137,898
  • Jun 17, 2009 5:21pm Jun 17, 2009 5:21pm
Quoting jack.canadia
i took a hit too man, not a bad one .. small hits can hurt too tho haha .. just blew through the level harddd! lol
lol I hear you buddy. Luckily for me I took some off trading dragon yesterday, those gains pretty much allowed me to handle the drawdowns atm.
Pretty hard to see & bb nowadays jack. Seems like we're doing shifts between the sessions
Thank You
  • #137,899
  • Jun 17, 2009 5:27pm Jun 17, 2009 5:27pm
Quoting jack.canadia
in that post you refer too.. love the "we're diving" comment hahaha
hahaha, saw the tp? I'm not joking on that one either

oh well, back to bed. trade safe fellas & good luck
Thank You
  • #137,900
  • Jun 17, 2009 5:28pm Jun 17, 2009 5:28pm
Quoting jack.canadia
sweet.. it would be nice if someone in here had access to futures data. .. that way we could see what the volumes were looking like at each price level


look at my chart in last posting ...each of those HV level is the high volume pivot for up to 20 sessions ago . Note how these form s/r for prices . i dod not even have to plot these lines on my charts

Here is a chart showing the cumulative volume pivot for the last 3 trading days

upper value area = 16474
point of control , high vol pivot = 6354
lower value area= 6301

so from this below 6354 = bearish sellers in control and this is key level

there are some high vol areas 6415 ( very key area on Gu last few days) and 6300

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