in the forex factory of course..but understanding the fundamental this impact happens during the last 3 hours before the market close// see its happening as i said!!
Play it HarD*
Cable Update (GBPUSD)
- #138,182
- Jun 18, 2009 1:04pm Jun 18, 2009 1:04pm
- | Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
- #138,184
- Jun 18, 2009 1:15pm Jun 18, 2009 1:15pm
- | Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
- #138,187
- Jun 18, 2009 1:24pm Jun 18, 2009 1:24pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
Thanks for the advice!
Does anyone know why the sudden move down?
Except the excelent oportunity to get some good scalps.
I`m guessing it`s about what Geithner said but i`m not watching that... Euro took a harder fall...
I`m keeping fingers crossed, maybe he will say something like the time he said another reserve currency is a good ideea and the market did a 500 pips jump up in 20 minutes...
But anyway stocks are still refusing to go lower... S&P is playing with the daily R1 for the last 20 minutes....
- #138,190
- Jun 18, 2009 1:40pm Jun 18, 2009 1:40pm
6468 is also a possibility on my chart. Above 65 would most likely negate my count.
I've moved my original target of 6380 to 64 as price action is strong. My wavecount also suggests that there's a bit more room on the upside.
I'm out for a few hours now. Happy trading and good luck.
Good news is my previous wavecount remains intact so there is still scope to continue south to break the trendline from here.
I'll join the shorties as soon as there's a good entry. See you later.
- #138,191
- Jun 18, 2009 1:42pm Jun 18, 2009 1:42pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
- #138,192
- Jun 18, 2009 1:44pm Jun 18, 2009 1:44pm
Thank you!
Does anyone know why the sudden move down?
Except the excelent oportunity to get some good scalps.
I`m guessing it`s about what Geithner said but i`m not watching that... Euro took a harder fall...
I`m keeping fingers crossed, maybe he will say something like the time he said another reserve currency is a good ideea and the market did a 500 pips jump up in 20 minutes...
But anyway stocks are still refusing to go lower... S&P is playing with the daily R1 for the last 20 minutes....
- #138,194
- Jun 18, 2009 1:47pm Jun 18, 2009 1:47pm
Just play the range game!
- #138,196
- Jun 18, 2009 1:51pm Jun 18, 2009 1:51pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
Would you look for a long here, based on the bullish 1hr candle that just closed?
Now i just took 6 scalps between 4 and 11 pips profit... all long.
If i weren`t in a long position now, i wouldn`t trade... as i have no clue what`s this thing doing....
Stocks are at the highs of the day tho...
That`s all i know.
EDIT: The candle is good for a bullish setup.... but we are late in the day, US will close in 45 minutes.... And i`m not sure Asia is that optimist about the pound.
SECOND EDIT: I won`t thell you what to do since i`m pretty new, and i don`t want people to lose money becouse of me...
For me this drop was a good ocasion to add a long, and needed to make a bigger push upwards... but you can never be 100% sure, so i didn`t add long positions, but i scalped.....
Of course Asia might think something else....
Yes i saw the bounce .. there is a 50% fib the other way at the 6350 area.
Compare the up move and then the sell off. Which had more meat to it?
I must admit, the triangle pattern signals consolidation and faovrs a break higher. Based on the price action though and the new low of the 4-hour, I am bearish.
I'm still short of 1.6320 and have been for 2 days! lol