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Cable Update (GBPUSD)

  • #141,381
  • Jun 30, 2009 8:24pm Jun 30, 2009 8:24pm
now we are on middle point range,i think this is strong support,long - pt 6480???
  • #141,382
  • Jun 30, 2009 8:25pm Jun 30, 2009 8:25pm
Quoting tathlynq
Here's the Murrey Math levels.... I don't use them much but do like to look at them once in a while. 1/8th @ 1.6418.
is that a buy position i see at 6730?
  • #141,383
  • Jun 30, 2009 8:26pm Jun 30, 2009 8:26pm
Quoting jack.canadia
http://www.reuters.com/article/usDol...00010720090701
The U.S. Dollar rallied after a report showed that China's PMI Manufacturing rose for a fourth straight month in June to 53.2 vs 53.1. Against the Japanese Yen, the currency rallied over 35 pips within seconds of the release of the news. The news may have sparked speculation that a recovering U.S. economy may be floating around the corner. In fact, New Export Orders for China, according to the PMI, rose 2.6% in June. Since the U.S. is China's largest buyer of exports, this may have signaled that American consumption from abroad may have increased in the month. Such developments could buoy interest rate expectations as demand pressure boosts the inflation outlook within the U.S.

Source: http://www.dailyfx.com/story/market_...410688011.html
  • #141,384
  • Jun 30, 2009 8:26pm Jun 30, 2009 8:26pm
Looks like we are getting the bounce. Lets see if it holds.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp chart3.gif Size: 20 KB
  • #141,385
  • Jun 30, 2009 8:27pm Jun 30, 2009 8:27pm
Quoting tathlynq
Here's the Murrey Math levels.... I don't use them much but do like to look at them once in a while. 1/8th @ 1.6418.
As I stated earlier I use Murray Math a lot...I am tempted to long if I get a close on the 5 min above the 3 SMA but relly think the trend is still down so will wait for rallies to shorrt into
  • #141,386
  • Jun 30, 2009 8:28pm Jun 30, 2009 8:28pm
Quoting jack.canadia
is that a buy position i see at 6730?
is it possible to reach 1.6500 again jack?
  • #141,387
  • Jun 30, 2009 8:33pm Jun 30, 2009 8:33pm
Quoting deryworlds
is it possible to reach 1.6500 again jack?
ideally, i would hope so. that sell off was due to news.

like last night, as malcolmb said, he didnt like the spike higher during a low volume session such as the asian session since it is typically a low volume session.

well, i dont quite like that spike down! yes it made a new low, but was quickly bought off of and it occurred during a lower volume trading session.

i really hope she climbs back up otherwise i'll be missing out on this nice sell off.
  • #141,388
  • Jun 30, 2009 8:34pm Jun 30, 2009 8:34pm
SELL position opened for 1.63 i see 1.6221 around the corner
  • #141,389
  • Jun 30, 2009 8:38pm Jun 30, 2009 8:38pm
Nikkei opened with a gap down but has been moving up all session. Could help GU up but it doesnt look like it.
  • #141,390
  • Jun 30, 2009 8:38pm Jun 30, 2009 8:38pm
Quoting forexlion
SELL position opened for 1.63 i see 1.6221 around the corner
Ok I admit that is one of the fastest profits I have seen in fx

goes well with my new trading style as explained in this post

http://www.forexfactory.com/showpost...&postcount=464
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
  • #141,391
  • Jun 30, 2009 8:42pm Jun 30, 2009 8:42pm
Quoting forexlion
Ok I admit that is one of the fastest profits I have seen in fx

goes well with my new trading style as explained in this post

http://www.forexfactory.com/showpost...&postcount=464
Why are u short all the way at the bottom???
  • #141,392
  • Jun 30, 2009 8:44pm Jun 30, 2009 8:44pm
which one is true ? GBPUSD or Nikkei or EURJPY ???? !!!!
  • #141,393
  • Jun 30, 2009 8:44pm Jun 30, 2009 8:44pm
Quoting jack.canadia
Why are u short all the way at the bottom???
Simple. Because you never REALLY know where the bottom or top is.
  • #141,394
  • Jun 30, 2009 8:46pm Jun 30, 2009 8:46pm
Quoting pjpipster
Simple. Because you never REALLY know where the bottom or top is.
You should never sell, after a sell off.
  • #141,395
  • Jun 30, 2009 8:47pm Jun 30, 2009 8:47pm
Quoting pjpipster
Simple. Because you never REALLY know where the bottom or top is.
Sell at resistance. Buy at support.

He sold near support. Not a good idea.
  • #141,396
  • Jun 30, 2009 8:49pm Jun 30, 2009 8:49pm
Quoting jack.canadia
You should never sell, after a sell off.
fine u forced me to change my target from 1.63 to 1.6256
  • #141,397
  • Jun 30, 2009 8:49pm Jun 30, 2009 8:49pm
Quoting jack.canadia
Sell at resistance. Buy at support.

He sold near support. Not a good idea.
watch for when Errich FX posts. His way of trading is the simplest and most profitable because its simple.

in between two areas of support and resistance is bullshit .. positions should be taken at or near these levels to maximize reward and minimize risk.

never never never sell (or buy) after a large dip (or spike) in a short amount of time. you wait for the pullback.
  • #141,398
  • Jun 30, 2009 8:51pm Jun 30, 2009 8:51pm
Quoting forexlion
fine u forced me to change my target from 1.63 to 1.6256
I wish you luck since its very risky.

I am long from 6415.
  • #141,399
  • Jun 30, 2009 8:52pm Jun 30, 2009 8:52pm
Quoting jack.canadia
Sell at resistance. Buy at support.

He sold near support. Not a good idea.
Jack history is repeating itself

compare the current chart patter with the history, see what happened in the history !!

unless 1 hour confirms, i will never never go long, to hell with the support lines
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #141,400
  • Jun 30, 2009 8:54pm Jun 30, 2009 8:54pm
Quoting forexlion
Jack history is repeating itself

compare the current chart patter with the history, see what happened in the history !!

unless 1 hour confirms, i will never never go long, to hell with the support lines

my target also 1.6250 test


I am with you they sell every rally today. i am not risking longs till chart say otherwise.
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