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Cable Update (GBPUSD)

  • #141,181
  • Jun 30, 2009 6:19am Jun 30, 2009 6:19am
Quoting forexlion
I think it was a small pullback

I went to sleep right after closing my longs, waiting for market to stabilize after the HPI news, and when I return, holla !! a small pullback
bahahaha. oi, sleeping on money again were you?
Thank You
  • #141,182
  • Jun 30, 2009 6:20am Jun 30, 2009 6:20am
Quoting Limstylz
Don't you find that MACD on the M5 chart to be a little choppy? I have used MACD on higher TF's in the past, but have always found the lower TF's to be very jittery.

Aside from which, are you looking for divergences? From your posted chart earlier, I couldn't correctly identify a divergence that would indicate a large pullback, rather a slowing down of the move... Could you clarify this for me please?
Okay, I will be serious now , just couldn't help it

When trading forex:

 

  1. Never depend on the analysis of just one timeframe
  2. Always switch timeframes to get a better idea on what is happening
  3. Plan your trades long before you even take them
  4. Analyze very carefully why your trade should work
  5. And ........ most importantly, never marry her [ your trade ]
  6. Be ready to divorce her if she complains even a bit

  • #141,183
  • Jun 30, 2009 6:20am Jun 30, 2009 6:20am
Quoting wormboy
Crows have this tendency to crap all over bulls
Seriously tho, not just the crows, there are reversal warnings all over the place & at a very significant resistance level. Here's one :
http://www.forexfactory.com/showpost...&postcount=500

Trade well bro, good luck
Nice call Sir Wormboy,

I notice we have just hit todays open 1.6555.

With the completion of a HUGE shooting star on the 4hr and looks like we are going to have one on the daily too. or a doji.

oday is significant in that we had an explosive rally to the high of the day and have failed to continue dropping to the open. If we close at the open or below my GUESS is this is going south.
  • #141,184
  • Jun 30, 2009 6:21am Jun 30, 2009 6:21am
Quoting Bull_Bear
Between you and me, we all know that your judgment is well respected my friend.
Don't overrate me buddy, I'm just expressing as how grashid would put it my "poor" views

Catch you later bb. Dinner time. Trade safe!
Thank You
  • #141,185
  • Jun 30, 2009 6:22am Jun 30, 2009 6:22am
Quoting forexlion

  1. And ........ most importantly, never marry her [ your trade ]
  2. Be ready to divorce her is she complains even a bit

This goes for all aspects of life!!
  • #141,186
  • Jun 30, 2009 6:24am Jun 30, 2009 6:24am
Wormboy Is our target in sight now lol.........coming for you big time
Let Price determine your future!
  • #141,187
  • Jun 30, 2009 6:38am Jun 30, 2009 6:38am
Quoting wormboy
Don't overrate me buddy, I'm just expressing as how grashid would put it my "poor" views

Catch you later bb. Dinner time. Trade safe!
Love your work mate.... I'm outta here, very lazy today...... Let autotrade do the work.

Trade well all.......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #141,188
  • Jun 30, 2009 6:38am Jun 30, 2009 6:38am
Quoting Bull_Bear
closing all longs...... shorts @ 1.6595....SL.... 1.6705.... TP open
Im in the short side too. but too far. 1.6573...

But it looks like theres no scope for longs at the moment.
  • #141,189
  • Jun 30, 2009 6:45am Jun 30, 2009 6:45am
GBP/USD-market strategy can be a buy from the level 1.6580$
Technical oscillators supporting the bullish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines are in a bullish direction. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction.
  • #141,190
  • Jun 30, 2009 6:48am Jun 30, 2009 6:48am
Quoting deryworlds
GBP/USD-market strategy can be a buy from the level 1.6580$
Technical oscillators supporting the bullish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines are in a bullish direction. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction.
  • #141,191
  • Jun 30, 2009 6:55am Jun 30, 2009 6:55am
Quoting deryworlds
GBP/USD-market strategy can be a buy from the level 1.6580$
Technical oscillators supporting the bullish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines are in a bullish direction. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction.
why are you coping directly form actionforex.com daily technical analysis. this has been posted since morning even before the spike up. so alot has come into PA and that analysis might not hold again so be wise
  • #141,192
  • Jun 30, 2009 6:59am Jun 30, 2009 6:59am
Quoting beejay
why are you coping directly form actionforex.com daily technical analysis. this has been posted since morning even before the spike up. so alot has come into PA and that analysis might not hold again so be wise
in my time they just post around 2 Hour from nw at yours. so I think is still valid for me to consider they issue. which morning time did you mean? have a nice trade Bro
  • #141,193
  • Jun 30, 2009 7:05am Jun 30, 2009 7:05am
I see a retest of 1.6570 Move to 1.6660 on failure...straight to 1.6520....
Let Price determine your future!
  • #141,194
  • Jun 30, 2009 7:11am Jun 30, 2009 7:11am
My view.. GU still in bearish mode. If it breaks 1.66300 yes.. i change my mind.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #141,195
  • Jun 30, 2009 7:26am Jun 30, 2009 7:26am
So many hoping for the bear tu turn up. There are others who are waiting for their bull. Good Luck everybody.
Great Bodies are Engineered not Born
  • #141,196
  • Jun 30, 2009 7:33am Jun 30, 2009 7:33am
Quoting ganymedes
Goodbye range!
no hello new range ...6750 to 6550 lol
Blogging daily now at www.volume.zone
  • #141,197
  • Jun 30, 2009 7:34am Jun 30, 2009 7:34am
Since last Friday and we are facing extremely boring PA, today's range for GJ is 133 only, and for GU it was hurt by the worst than expected GDP report which affected it's strength, will see what the US session will bring to us
  • #141,198
  • Jun 30, 2009 7:35am Jun 30, 2009 7:35am
Skip your predicting people 1/2 of you will be right but as we have no idea who the 1/2 will be at this point, there is no point applauding yourself when your on the right side.

Trade what you see, trade your setups anything else is a waste of energy and will likely result in losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #141,199
  • Jun 30, 2009 7:39am Jun 30, 2009 7:39am
Quoting Turveyd
Skip your predicting people 1/2 of you will be right but as we have no idea who the 1/2 will be at this point, there is no point applauding yourself when your on the right side.

Trade what you see, trade your setups anything else is a waste of energy and will likely result in losses.
  • #141,200
  • Jun 30, 2009 7:44am Jun 30, 2009 7:44am
Quoting malcolmb14
I honsetly thought GU might break down last night , however we found those buyers again at 1.6250 ... I have mentioned accumulation of this level in previous posts. Again we see pros willing to buy heavy at this price level .

This only means one thing until we now see distribution of GU ....higher prices in the long run

Today i have been buying dips , and got one short trade. Price moved thru the value area of yesterday , very bullish for today .

Attachment

I love it.

The move to 1.6740 was inevitable in the long run . i mentioned the accumulation on the 4 hour several times since June 22.
Blogging daily now at www.volume.zone
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