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Cable Update (GBPUSD)

  • #141,341
  • Jun 30, 2009 3:47pm Jun 30, 2009 3:47pm
Quoting mjay
the chartAttachment
Our brokers close differently. I use MT4 with GMT +0, so my 4-h bar just closed at 4:00 PM EST (20:00 GMT)

Doji with a higher close on the weekly pivot.
Attached Image (click to enlarge)
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  • #141,342
  • Jun 30, 2009 3:54pm Jun 30, 2009 3:54pm
Quoting jack.canadia
The 4-h close bullish so this may help bring it back up to levels that we can short at.


Jack do you like 550 to 580 to look for short?
  • #141,343
  • Jun 30, 2009 4:01pm Jun 30, 2009 4:01pm
Quoting TrendsFX
My technical are showing some buying in GBP/USD now. Therefore I have bought;

GBP/USD @ 1.6448 with
SL @ 1.6395 and my
TP is around 1.6700

good luck .... wide volume down bar 4 hour .. no buyers at all . price still under the 7/8th mml on the 4 hour , going into Asia when anything can happen. Also today is bear day as price is cpmpletely under the lower vlaue of yesterday . This is a bearish reversal day.

Just be careful. Do not see signs for longs yet.

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #141,344
  • Jun 30, 2009 4:10pm Jun 30, 2009 4:10pm
Quoting TrendsFX
My technical are showing some buying in GBP/USD now. Therefore I have bought;

GBP/USD @ 1.6448 with
SL @ 1.6395 and my
TP is around 1.6700
TP at 67xx isn't short target???why don't you put 7xxx lol
Tend is still down sir hopefull tomorrow will be another selling day..D:

Ub
  • #141,345
  • Jun 30, 2009 4:45pm Jun 30, 2009 4:45pm
you may be very wrong. 67xx is still a very valid target for this week.

ps- ofcourse no offense to u

Quoting ubaidahsan
TP at 67xx isn't short target???why don't you put 7xxx lol
Tend is still down sir hopefull tomorrow will be another selling day..D:

Ub
Its all in the mind.
  • #141,346
  • Jun 30, 2009 4:46pm Jun 30, 2009 4:46pm
agree. asia may sell but I would take my risk. buy order sitting at 6442 with sl at 6416

Quoting malcolmb14
good luck .... wide volume down bar 4 hour .. no buyers at all . price still under the 7/8th mml on the 4 hour , going into Asia when anything can happen. Also today is bear day as price is cpmpletely under the lower vlaue of yesterday . This is a bearish reversal day.

Just be careful. Do not see signs for longs yet.

Attachment
Its all in the mind.
  • #141,347
  • Jun 30, 2009 4:48pm Jun 30, 2009 4:48pm
i have read these tdmark thingies before. v interesting thanks for the books.


Quoting ganymedes
Tom DeMark based:
My main strategy is qualified TD trendline breaks on multiple (at least two, where one of them is H1 or H4) timeframes. Current position in W1 limits the allowed direction (must be above a current TD demand line for bullish entries or below a current TD supply line for bearish entries.) The usual rules for TD trendline breaks applies, but I cheat and use an indicator on my charts

Speculation:
My current entry, however, was based on speculation on a range breakout. Range support held, and I simply went long in the lower half...
Its all in the mind.
  • #141,348
  • Jun 30, 2009 4:57pm Jun 30, 2009 4:57pm
Quoting alex1976
Jack do you like 550 to 580 to look for short?
Yeah, 6550/6580 is the best zone to look for based on the 4-hr. There is also a wick that touched the 6510 area on the way down so that will be a minor hurdle, as well as 6500 on the way up.

According to malcolm based on volumes, this was real selling so upmoves on low or declining volume may set us up for another short opportunity.

Patience on this one, let's try and get it right!
  • #141,349
  • Jun 30, 2009 5:01pm Jun 30, 2009 5:01pm
Well seems to be more down room maybe 1.6425 range
i will go for long from there
  • #141,350
  • Jun 30, 2009 5:05pm Jun 30, 2009 5:05pm
Quoting Bull_Bear
closing all longs...... shorts @ 1.6595....SL.... 1.6705.... TP open
I see 1.6400 area as very good support to re-enter long.........thats where my TP and limit buy order will lay.

Good luck
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #141,351
  • Jun 30, 2009 5:14pm Jun 30, 2009 5:14pm
I notice something new everytime i look at the charts. 6520 looks good to short as well based on sundays gap.

Even though gaps fill, as many people tell me, there is always some sort of reaction to them in (check for large daily gaps on the daily and just draw a line through them).

I would expect GU to find resistance here first and from here up to 6550 it makes for an ideal place to join the short bus.
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  • #141,352
  • Jun 30, 2009 5:20pm Jun 30, 2009 5:20pm
Quoting jack.canadia
I notice something new everytime i look at the charts. 6520 looks good to short as well based on sundays gap.

Even though gaps fill, as many people tell me, there is always some sort of reaction to them in (check for large daily gaps on the daily and just draw a line through them).

I would expect GU to find resistance here first and from here up to 6550 it makes for an ideal place to join the short bus.
It will be a bit more clear once the daily pivots reset for me at 00:00GMT
  • #141,353
  • Jun 30, 2009 5:27pm Jun 30, 2009 5:27pm
Quoting malcolmb14
good luck .... wide volume down bar 4 hour .. no buyers at all . price still under the 7/8th mml on the 4 hour , going into Asia when anything can happen. Also today is bear day as price is cpmpletely under the lower vlaue of yesterday . This is a bearish reversal day.

Just be careful. Do not see signs for longs yet.

Attachment
malcolmb14,

Could you please share your Better Volume 1.1 indicator, I can't get one that seems like yours :S

Thanks.
  • #141,354
  • Jun 30, 2009 5:54pm Jun 30, 2009 5:54pm
Morning All,

Last candle closed above 38 fibo ..... Just an opinion...........

tic toc tic toc tic toc .......

I don't know what i'm doing ....
  • #141,355
  • Jun 30, 2009 5:55pm Jun 30, 2009 5:55pm
Support Resistance Levels

1,6678 - 1,6711 - 1,675 - 1,68 - 1,6826

1,6640

1,6607 - 1,6535 - 1,6504 - 1,646 - 1,6419

-----------

Support Resistance

.
  • #141,356
  • Jun 30, 2009 5:56pm Jun 30, 2009 5:56pm
Quoting iqyusan
Morning All,

Last candle closed above 38 fibo ..... Just an opinion...........

tic toc tic toc tic toc .......

I don't know what i'm doing ....
.....
Attached Image
  • #141,357
  • Jun 30, 2009 6:26pm Jun 30, 2009 6:26pm
update .. revised sell orders in place for 6510 and 6545
  • #141,358
  • Edited 7:11pm Jun 30, 2009 6:38pm | Edited 7:11pm
Quoting jack.canadia
update .. revised sell orders in place for 6510 and 6545
daily pivot @ 1.6545 and 38fib of the whole downmove
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #141,359
  • Jun 30, 2009 7:10pm Jun 30, 2009 7:10pm
Quoting djambazov84
daily pivot @ 1.6445 and 38fib of the whole downmove
I believe you meant 6545 .. but yes. Nice confluence of 2, 38.2% fibs, daily pivot and a pullback level.

Sell @ 6535/40/55
Target @ 6370/6300/6250
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  • #141,360
  • Jun 30, 2009 7:12pm Jun 30, 2009 7:12pm
I stand corrected thanks !
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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