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Cable Update (GBPUSD)

  • #140,961
  • Jun 29, 2009 4:32pm Jun 29, 2009 4:32pm
Quoting jack.canadia
We hit obvious resistance today and made a daily high at the highest closing price of the last peak.

I have this odd feeling they are going to move this thing up 500 pip before end of week. They will shake out all weak shorts on an upthrust type bar,

Bear divergences on daily can take 500 - 1000 pips to works them selves out

on a 4 hour i have a hidden bullish div on rsx ...

should be an interesting session in Asia, I am on the GJ and will it the GU if I see something of interest

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #140,962
  • Jun 29, 2009 4:39pm Jun 29, 2009 4:39pm
Daily chart, I expect a break out to new yearly highs and over 1.70 could be this week, but not the game I play.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #140,963
  • Jun 29, 2009 4:57pm Jun 29, 2009 4:57pm
see everyone at 00 gmt.
  • #140,964
  • Jun 29, 2009 5:29pm Jun 29, 2009 5:29pm
Plan for tonight-

have buy at 6505 ,will see if it gets filled.

For ATM, a short is warranted. Stop at 6589, t/p at 6510.

I am patient, so no trades here for me
Its all in the mind.
  • #140,965
  • Jun 29, 2009 5:45pm Jun 29, 2009 5:45pm
Support Resistance Levels GBP 30 June 2009

1,6607 - 1,664 - 1,6678 - 1,6711 - 1,675

1,6535

1,6504 - 1,646 - 1,6419 - 1,6402 - 1,6348

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

support resistance

.
  • #140,966
  • Jun 29, 2009 6:22pm Jun 29, 2009 6:22pm
Breakout seems imminent (< 12 hrs.)
  • #140,967
  • Jun 29, 2009 6:29pm Jun 29, 2009 6:29pm
Quoting ganymedes
Breakout seems imminent (< 12 hrs.)
breakout - long or short: and, why do you say so?
  • #140,968
  • Jun 29, 2009 6:30pm Jun 29, 2009 6:30pm
Quoting malcolmb14
lol ... wait .. better off . The best you can hope for is a shake out now before tokyo .

I bet this thing tests 1.6600 in Tokyo session...

hate to say i told you so ... volume does not lie
Blogging daily now at www.volume.zone
  • #140,969
  • Jun 29, 2009 6:33pm Jun 29, 2009 6:33pm
Quoting francish
breakout - long or short: and, why do you say so?
Long, just look at those charts..!
  • #140,970
  • Jun 29, 2009 6:33pm Jun 29, 2009 6:33pm
I had a long trade and I set the target @ 1.6600 for GU and prices here reached 1.6601 and FXCM didn't close the trade
  • #140,971
  • Jun 29, 2009 6:34pm Jun 29, 2009 6:34pm
Quoting pino2
I had a long trade and I set the target @ 1.6600 for GU and prices here reached 1.6601 and FXCM didn't close the trade
bid versus ask chart

do not forget to add spread .. missed your limit by 2 pips

common mistake
Blogging daily now at www.volume.zone
  • #140,972
  • Jun 29, 2009 6:35pm Jun 29, 2009 6:35pm
my h4 need to close above 6600 before we talk business. Asia may still sell it before the leg up to 6712 a level I called yesterday.

Quoting ganymedes
Breakout seems imminent (< 12 hrs.)
Its all in the mind.
  • #140,973
  • Jun 29, 2009 6:37pm Jun 29, 2009 6:37pm
Quoting malcolmb14
hate to say i told you so ... volume does not lie
Do you still advise we go long @ 6600? many people thot its a sell area. What do u think?
  • #140,974
  • Jun 29, 2009 6:37pm Jun 29, 2009 6:37pm
Reason my orders and stops always lie at xx96, xx46, xx47etc

Quoting malcolmb14
bid versus ask chart

do not forget to add spread .. missed your limit by 2 pips

common mistake
Its all in the mind.
  • #140,975
  • Jun 29, 2009 6:40pm Jun 29, 2009 6:40pm
Quoting malcolmb14
bid versus ask chart

do not forget to add spread .. missed your limit by 2 pips

common mistake
Yes, looks like we hit a bunch of sell orders @ mid-quote 1.6600 exactly.
  • #140,976
  • Jun 29, 2009 6:49pm Jun 29, 2009 6:49pm
Quoting malcolmb14
I am a day trader. I only work off 5 and 15 min charts with 50 - 100 pip trades as targets , works really nicely.
Malcolm, i saw your volume table. how do u trade off 5 and 15 min charts? what do u mean?
  • #140,977
  • Jun 29, 2009 7:02pm Jun 29, 2009 7:02pm
Is the shooting star on 1hr bear or just bullshit?
  • #140,978
  • Jun 29, 2009 7:07pm Jun 29, 2009 7:07pm
Quoting alex1976
Is the shooting star on 1hr bear or just bullshit?
Would wait for confirmation from following bar, it's bullish on monthly charts.
  • #140,979
  • Jun 29, 2009 7:08pm Jun 29, 2009 7:08pm
Quoting alex1976
Is the shooting star on 1hr bear or just bullshit?
We have some bearish divergence on H1, but price is wedging into resistance on higher timeframes...

Edit: I would rather see this formation at more of a swing high

Attached Image (click to enlarge)
Click to Enlarge Name: 06-29-09 gbpusd h1.gif Size: 14 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 06-29-09 gbpusd d1.gif Size: 17 KB
skype: ststroud. let's talk trading.
  • #140,980
  • Jun 29, 2009 7:09pm Jun 29, 2009 7:09pm
Quoting tomasz
Would wait for confirmation from following bar, it's bullish on monthly charts.
skype: ststroud. let's talk trading.
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