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Cable Update (GBPUSD)

  • #138,901
  • Jun 22, 2009 4:28am Jun 22, 2009 4:28am
LOL. Thank god I got out early... I'm thinking it could be news driven..
  • #138,902
  • Jun 22, 2009 4:30am Jun 22, 2009 4:30am
Quoting Bull_Bear
Buy EUR @ 1.3850..... SL 1.3780.....open

Cable hold long
I'am long at 1.3840, whats your target?
  • #138,903
  • Jun 22, 2009 4:32am Jun 22, 2009 4:32am
Quoting SwissKinseb
I'am long at 1.3840, whats your target?
Watch the 4 hour close my friend.... Could be disaster for EUR.....
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #138,904
  • Jun 22, 2009 4:33am Jun 22, 2009 4:33am
Quoting Bull_Bear
Buy EUR @ 1.3850..... SL 1.3780.....open

Cable hold long
Hi bb, how's it going mate. Maybe you want to have a look again at eu?
Just a thought , no offence

http://www.forexfactory.com/showpost...postcount=1460
http://www.forexfactory.com/showpost...postcount=1461

Good luck my friend
Thank You
  • #138,905
  • Jun 22, 2009 4:35am Jun 22, 2009 4:35am
Quoting Bull_Bear
Watch the 4 hour close my friend.... Could be disaster for EUR.....
thank you
  • #138,906
  • Jun 22, 2009 4:38am Jun 22, 2009 4:38am
Quoting wormboy
Hi bb, how's it going mate. Maybe you want to have a look again at eu?
Just a thought , no offence

http://www.forexfactory.com/showpost...postcount=1460
http://www.forexfactory.com/showpost...postcount=1461

Good luck my friend
Good mate..... I'm hoping trend line would hold, offense??? mate..... Us traders we have thick skin
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #138,907
  • Jun 22, 2009 4:39am Jun 22, 2009 4:39am
ANYONE FOR LONG ?
  • #138,908
  • Jun 22, 2009 4:39am Jun 22, 2009 4:39am
hey guys, what do you make of this volatile price action?
  • #138,909
  • Jun 22, 2009 4:40am Jun 22, 2009 4:40am
Quoting Faryad
ANYONE FOR LONG ?
yep in at 1.6450
  • #138,910
  • Jun 22, 2009 4:41am Jun 22, 2009 4:41am
Quoting Bull_Bear
Good mate..... I'm hoping trend line would hold, offense??? mate..... Us traders we have thick skin
Thank You
  • #138,911
  • Jun 22, 2009 4:43am Jun 22, 2009 4:43am
Quoting SwissKinseb
thank you
No probs, Looks like its holding for now, hopefully 4 hour closes above the trend line we in business, or else until she is broken, hang tight if you brave enough.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #138,912
  • Jun 22, 2009 4:43am Jun 22, 2009 4:43am
I m long EUR also 3840 moved to BE target 25-30 pips
  • #138,913
  • Jun 22, 2009 4:47am Jun 22, 2009 4:47am
Quoting angelina
i m long eur also 3840 moved to be target 25-30 pips
you take it dont worry
  • #138,914
  • Edited 5:02am Jun 22, 2009 4:49am | Edited 5:02am
Quoting Angelina
I m long EUR also 3840 moved to BE target 25-30 pips

out 3861 21pips.

down trend still strong wait for other scalp.

Long again if it goes deep 3815-25
  • #138,915
  • Jun 22, 2009 4:50am Jun 22, 2009 4:50am
Quoting angelina
out 3861 21pips.
lol good u r so fast
  • #138,916
  • Jun 22, 2009 5:12am Jun 22, 2009 5:12am
Indicators signalling for buy eur/usd gbp/usd
  • #138,917
  • Jun 22, 2009 5:15am Jun 22, 2009 5:15am
Last 1H candle I think that means SM have finished phase distribution.Let's see how this 1H candle will close .
  • #138,918
  • Jun 22, 2009 5:21am Jun 22, 2009 5:21am
LONG FROM 1.6449
  • #138,919
  • Jun 22, 2009 5:23am Jun 22, 2009 5:23am
Quoting Fibonatzi
Last 1H candle I think that means SM have finished phase distribution.Let's see how this 1H candle will close .
Nice Article for those who do now much about Volume distribution and accumalation

Volume, Consolidation, Distribution
Volume: When used as a confirmation tool, calculating that the price point that has been chosen is also being monitored by others, it is invaluable. As an exact count on volume, as you are accustomed to using it in equities, it is like comparing apples and pears; both look good, both work, they taste different, but both have a benefit in use. The volume that we see in the spot market reflects very well the actual, countable, volume that is seen in the futures currency trade. On a higher market participation day, you have more chance of hitting your target sooner than compared to an under average market participation day.
Consolidation: Protecting the price point that you are at, not wanting to go up or to go down. Consolidation phases usually happen on light volume.
Distribution: Liquidating the positions that are being held, but not wanting to reveal that it is being done, or ready for a move in the opposite direction. Usually has heavy, eratic volume spikes as the commodity or asset is liquidated, and bought back in smaller amounts, by the party looking to distribute. They have to buy some back to stop the distribution turning into a sell-off before they are finished distributing.
Combining The Three: Traders are at a stage in the market's cycle right now that is one of the most frustrating to deal with, and where the most money gets squandered. This stage is when we go through a phase of consolidation, moving sideways consolidating the recent moves made while anticipating a continuation of the previous trend. Consolidation can extend itself so far, and for so long, that it actually turns from Consolidation to Distribution, where the asset starts to get sold as the realization that the original trend has expired, and there is no more forward momentum. Add in low volume levels, like we have right now, and volatility starts to increase a little.
A sideways pattern of trade that is caused by the Distribution, or selling of the asset, before a reversal of the recent move occurs, looks to be happening on the aussie and the euro. They have run out of forward momentum after hitting all-time highs and the Consolidation phase has now turned into a Distribution reversal; a swing point. The yen and swissy are at a crucial point as well right now.
For experienced market participants, the Distribution phase is known to create the most market fear, or volatility, and that is what an experienced trader with a plan can feed off. There is no real way to confirm the move from Consolidation to Distribution until it is right upon us, and at that time the herd mentally tends to over-exaggerate the subsequent moves.
Getting into the Distribution phase with a trade has to be well planned, have bigger targets, and a more flexible thought process. The herd still have their heads down as the Distribution phase is happening, they are grazing on the previous trend, blissfully unaware that the change is happening on the four hour charts. Once the market players have distributed their holding of the previous trend, and have positioned themselves going the other way, it becomes time to inform the herd that things have changed, to get their head up out of the trough, and to get a stampede going.
A screaming headline is always good for that, something along the lines of; "Dollar strength in the face of NFP misery, Buy Dollars!!!" The new headline, designed to wake the herd up, tends to reverse the recent headlines that were there to hide their efforts to distribute their holdings. Yesterday, it was "More misery for the Dollar as Recession looms!!!".
Volume, Consolidation, Distribution, Headlines; the pattern is there, has been there for decades, and still always seems to work. The Players are already in, they have worked the market mechanics, have linked the moves in the treasury, oil, gold and futures markets, have used previous trading experience to get to know how volume, consolidation and distribution work, and are waiting for just one thing; the herd to realize that they are going the wrong way.
Let Price determine your future!
  • #138,920
  • Jun 22, 2009 5:23am Jun 22, 2009 5:23am
Quoting Faryad
Indicators signalling for buy eur/usd gbp/usd
Care to illustrate it with a chart?
Especially with EU. h4 shows there's more room to go down. I'd like to see what buying you are talking about please.

Thank you.
Thank You
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