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Cable Update (GBPUSD)

  • #139,461
  • Jun 23, 2009 5:58pm Jun 23, 2009 5:58pm
Quoting alex1976
Malcomb 80% win ratio, thats excellent!!

So now that its breaking to the downside are you looking for a long going into uk session?

this is a shake out there is no selling pressure

they are trapping bears and hsaking out weak longs .. al the better to push it higher as shorts start running for the doors.

Odd how this move comes in low vol time 1 hour before tokyo

looking for longs at 1.64000 area
Blogging daily now at www.volume.zone
  • #139,462
  • Jun 23, 2009 6:01pm Jun 23, 2009 6:01pm
long on this stopping volume on murrey math line

6427 , max draw down I should get is 40 pips .... for 130 pip trade

Attached Image
Blogging daily now at www.volume.zone
  • #139,463
  • Jun 23, 2009 6:25pm Jun 23, 2009 6:25pm
Angelina, do you like between 360 and 400 to go long?
  • #139,464
  • Jun 23, 2009 6:30pm Jun 23, 2009 6:30pm
Quoting alex1976
Angelina, do you like between 360 and 400 to go long?
first is 6400 is good looks for me, best still 6385 sl not lower than 8325 around 40-45 i guess, see how the chart moves ^^.



Angelina.
  • #139,465
  • Jun 23, 2009 6:33pm Jun 23, 2009 6:33pm
Quoting alex1976
Angelina, do you like between 360 and 400 to go long?

I guess ignore my post ... for now volume does not lie

double bototm , stopping vol now low vol test ... see you at 1.6550

Attached Image
Blogging daily now at www.volume.zone
  • #139,466
  • Jun 23, 2009 6:41pm Jun 23, 2009 6:41pm
Quoting malcolmb14
long on this stopping volume on murrey math line

6427 , max draw down I should get is 40 pips .... for 130 pip trade

Attachment
the RSI gave good signal bottom for E/U and G/U be4 London session open but I did not check it. I think now the up move is coming too, but Mal- what do you think about US bank rate tomorrow?.


Angelina.
  • #139,467
  • Jun 23, 2009 6:42pm Jun 23, 2009 6:42pm
The GBPUSD attempted to push lower yesterday, bottomed at 1.6208 but further bearish momentum was rejected as the pair whipsawed to the upside, topped at 1.6471 and closed at 1.6450. On h4 chart below we can see that this was the case of a false triangle breakdown. The bias is bullish in nearest term testing 1.6505/59 area but remains neutral in medium term. CCI just cross the 100 line down on h1 chart so watch out for potential downside rebound testing 1.6350 support area. Break below that area should lead us into no trading zone. Please click here to see the chart.

I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog.


Happy Trading!
  • #139,468
  • Jun 23, 2009 6:45pm Jun 23, 2009 6:45pm
Hi Malcomb,

Really nice explanation of trades....Stopping Volume....

Perfect time to enter I guess....

I really appreciate the time you take out to explain your trades mate

GeppyG
Let Price determine your future!
  • #139,469
  • Jun 23, 2009 6:46pm Jun 23, 2009 6:46pm
Good morning. Still consolidating & the range is getting really narrow.
Last h4 closed a doji. Probably a good idea to wait & see how the current h4 close methinks. Close higher than the doji & I suppose 6540 is the last line of defence before 6600 get challenged again. Close above 6600, bears are pretty much dead.
On the other hand should the current h4 stays & close bearish, there's a possibility it forms an evening doji star, a powerful reversal pattern. Should this happen then the major ltl will be challenged. A close below 6300 today, I probably won't be buying for a long time.
Let's see how this goes. Good luck everyone

Earlier chart : http://www.forexfactory.com/showpost...stcount=139319
Attached Image (click to enlarge)
Click to Enlarge Name: gu4w.JPG Size: 82 KB
Thank You
  • #139,470
  • Jun 23, 2009 6:55pm Jun 23, 2009 6:55pm
ok guys like i said we are in ranging mode, so we are going back down to 1.6283, get in where you fit in.
  • #139,471
  • Jun 23, 2009 6:55pm Jun 23, 2009 6:55pm
Nice analise, Wormboy and Malc.
I got my own view based on $ index:
We can see how it is bearishly biased after breaking out of the bear flag, however I think there will be a retest of the TL in circle, and afterwards a fall in index, hence bullish for g/u.
Attached Image (click to enlarge)
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  • #139,472
  • Jun 23, 2009 6:59pm Jun 23, 2009 6:59pm
Quoting Angelina
the RSI gave good signal bottom for E/U and G/U be4 London session open but I did not check it. I think now the up move is coming too, but Mal- what do you think about US bank rate tomorrow?.


Angelina.

could be dicey .I doubt very much that they raise rates. I think that was what the move down yesterday was , the fact they might raise rates. Todays housing data crushed that rumour. I really do not think much about news to be honest. When i do I lose money .. every time. CNN i never switch that on. I trade what is on my charts.

If they raise rates things will be worse not better.

I reckon they remain the same.

and the rate thing is tomorrow ... tomorrow is a whole day and ,with a bit of luck 300 pip, away in a scalpers world
Blogging daily now at www.volume.zone
  • #139,473
  • Jun 23, 2009 6:59pm Jun 23, 2009 6:59pm
Quoting malcolmb14
I guess ignore my post ... for now volume does not lie

double bototm , stopping vol now low vol test ... see you at 1.6550

Attachment

Malcomb, I wanst ingnoring your post which was good, I was also getting Angelina's take as shes been on fire recently!
  • #139,474
  • Jun 23, 2009 7:05pm Jun 23, 2009 7:05pm
Quoting Geppyg
Hi Malcomb,

Really nice explanation of trades....Stopping Volume....

Perfect time to enter I guess....

I really appreciate the time you take out to explain your trades mate

GeppyG

that red volume bar ..... (that stands out so much may as well be hitting me over the head with a hammer) and the doji associated with it say BUYERS . not sellers ...lol

also remember what we spoke about on the weekend. It is all about the background. The background on GU does not suggest selling today. Any shorts are swimming against the tide and may drown

Attached Image (click to enlarge)
Click to Enlarge Name: chf01.gif Size: 21 KB
Blogging daily now at www.volume.zone
  • #139,475
  • Edited 7:19pm Jun 23, 2009 7:08pm | Edited 7:19pm
Quoting malcolmb14
long on this stopping volume on murrey math line

6427 , max draw down I should get is 40 pips .... for 130 pip trade

Attachment

me @ 6316. 5mins shows nice signal. I think she will test 6550 first.

my long E/J from 3150 TP @ 4150 giving good pipsssss.

almost 60pips green. Time to moved to BE.( out for fun first tp @ 6545).

GoodLuck All.

Hope you guys all in long.


Regards,

Angelina.


Angelina.
  • #139,476
  • Jun 23, 2009 7:09pm Jun 23, 2009 7:09pm
Quoting malcolmb14
that red volume bar ..... (that stands out so much may as well be hitting me over the head with a hammer) and the doji associated with it say BUYERS . not sellers ...lol

also remember what we spoke about on the weekend. It is all about the background. The background on GU does not suggest selling today. Any shorts are swimming against the tide and may drown

Attachment

Thanks for that one mate appreciated.......
Let Price determine your future!
  • #139,477
  • Jun 23, 2009 7:11pm Jun 23, 2009 7:11pm
There is power buy in this asian session!
Great Bodies are Engineered not Born
  • #139,478
  • Jun 23, 2009 7:15pm Jun 23, 2009 7:15pm
well gu and gj played into hands , you all had three chances to get on gu train with me.

posted gj trade in vsa forum that I am in

what a nice start to asia

I rarely posts unless I am fairly sure of trades . i try to post as they happen not after and i try to give reason for the trades.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #139,479
  • Jun 23, 2009 7:18pm Jun 23, 2009 7:18pm
Quoting malcolmb14
well gu and gj played into hands , you all had three chances to get on gu train with me.

posted gj trade in vsa forum that I am in

what a nice start to asia

I rarely posts unless I am fairly sure of trades . i try to post as they happen not after and i try to give reason for the trades.

Attachment

Attachment
Nice Start indeed. I'm on board.
Great Bodies are Engineered not Born
  • #139,480
  • Jun 23, 2009 7:28pm Jun 23, 2009 7:28pm
next support 6545-55.



Angelina.
Attached Image (click to enlarge)
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