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Cable Update (GBPUSD)

  • #144,301
  • Jul 8, 2009 2:20pm Jul 8, 2009 2:20pm
this could go up from here.... but to be sure id wait for a pin on dailly..
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  • #144,302
  • Jul 8, 2009 2:23pm Jul 8, 2009 2:23pm
Quoting malcolmb14
maybe a little higher

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Malcomb, whats your feeling on the hammer candle on the 4r?
  • #144,303
  • Jul 8, 2009 2:26pm Jul 8, 2009 2:26pm
Quote
Originally Posted by alex1976 http://www.forexfactory.com/images/buttons/viewpost.gif
Is 6044 a good place to look for short?
maybe a little higher

Do you think she'll retrace back to 6100 Malcomb.... if so, would that be a good target for new short entry?

Thanks
  • #144,304
  • Jul 8, 2009 2:28pm Jul 8, 2009 2:28pm
Quoting nAVIN2007
this could go up from here.... but to be sure id wait for a pin on dailly..

do not htink so .. lets call 1.6150 (just above today high ) the line in the sand .

I think we move to 1.5800

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  • #144,305
  • Jul 8, 2009 2:30pm Jul 8, 2009 2:30pm
Quoting alex1976
Malcomb, whats your feeling on the hammer candle on the 4r?
not much may retrace a touch but no buyers on that 4 hour bar
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  • #144,306
  • Jul 8, 2009 2:39pm Jul 8, 2009 2:39pm
Quoting malcolmb14
do not htink so .. lets call 1.6150 (just above today high ) the line in the sand .

I think we move to 1.5800

Attachment
yeah i know what u mean...retrace is pretty close to 50% of big swing...4hr got a bullish engulf..and monthly is bullish..the weekly bearish bar is playing out..but i think its a suitable support area to move up from..

let see what happens : i wont consider a long unless theres a dailly pin thou..and theres no sign of that happenning so far
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  • #144,307
  • Jul 8, 2009 2:41pm Jul 8, 2009 2:41pm
Quoting nAVIN2007
yeah i know what u mean...retrace is pretty close to 50% of big swing...4hr got a bullish engulf..and monthly is bullish..the weekly bearish bar is playing out..but i think its a suitable support area to move up from..

let see what happens

keeping eye on high of today for any sign of reversal day
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  • #144,308
  • Jul 8, 2009 2:45pm Jul 8, 2009 2:45pm
a little correction is more possible for me. going short at much support is not a good entry i think.
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  • #144,309
  • Jul 8, 2009 2:51pm Jul 8, 2009 2:51pm
Quoting malcolmb14
keeping eye on high of today for any sign of reversal day
sure will buddy..
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  • #144,310
  • Jul 8, 2009 2:53pm Jul 8, 2009 2:53pm
Quoting nAVIN2007
sure will buddy..

enjoying the day trading but something odd about the jpy pairs.....

market only ended down a touch ..

I smell bear trap and am being very wary
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  • #144,311
  • Jul 8, 2009 2:59pm Jul 8, 2009 2:59pm
Quoting malcolmb14
enjoying the day trading but something odd about the jpy pairs.....

market only ended down a touch ..

I smell bear trap and am being very wary
hi malcomb what is mean bear trap?
  • #144,312
  • Jul 8, 2009 3:00pm Jul 8, 2009 3:00pm
Quoting malcolmb14
enjoying the day trading but something odd about the jpy pairs.....

market only ended down a touch ..

I smell bear trap and am being very wary
i know what u mean...actually thats exactly what i think thats why im mentioning it...
cable quite easily could give a dailly pin and this will reverse...the monthly to me certainly shows this as a possibility

let see if it can close above the 61.8 retrace point
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  • #144,313
  • Jul 8, 2009 3:05pm Jul 8, 2009 3:05pm
interesting close to ES.

sellers on the doji after they pushed price up on low volume.

tomorrow will be another very interesting day in the US stock market

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  • #144,314
  • Jul 8, 2009 3:07pm Jul 8, 2009 3:07pm
Quoting nAVIN2007
i know what u mean...actually thats exactly what i think thats why im mentioning it...
cable quite easily could give a dailly pin and this will reverse...the monthly to me certainly shows this as a possibility

let see if it can close above the 61.8 retrace point
There`s still a long way to go... Once we take out the low of last month or atleast bounce off the low at 1.5801, things will clear up.
  • #144,315
  • Jul 8, 2009 3:10pm Jul 8, 2009 3:10pm
Quoting MuddBugg
hi malcomb what is mean bear trap?

rapiud mark down of JPY pairs today typically signifies that risk aversion is in the markets , meaning that indexes should be dropping also and usd getting stronger. Hower in realityt neither of the latter hapopened . The index finished about break even. Maybe tomorrow we will see the results of todays move on the US stock market. 875 is a critical level on s &p and we closed just under it

The nove today has likely made every one bearish sentiment and then wham before you know it they shove the up move right up your rear end . !!!

I am lookign for a test of 150 on gj and 6100 gu . If i see this on low volume then i will know there is no demand .. or no real buying interest
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  • #144,316
  • Jul 8, 2009 3:16pm Jul 8, 2009 3:16pm
Quoting malcolmb14
rapiud mark down of JPY pairs today typically signifies that risk aversion is in the markets , meaning that indexes should be dropping also and usd getting stronger. Hower in realityt neither of the latter hapopened . The index finished about break even. Maybe tomorrow we will see the results of todays move on the US stock market. 875 is a critical level on s &p and we closed just under it

The nove today has likely made every one bearish sentiment and then wham before you know it they shove the up move right up your rear end . !!!

I am lookign...
tky malcomb very good explained. geppy having two pinbar on last two close H4 chart. can maybe move up 151.90 S2 H4.
  • #144,317
  • Jul 8, 2009 3:26pm Jul 8, 2009 3:26pm
Maybe back to the 1.580 now? It seems like.....or doesn"t?
I am back. Actually, I never left...
  • #144,318
  • Jul 8, 2009 3:29pm Jul 8, 2009 3:29pm
i still think we'll see 1.62 before she drops to 1.58 area. but thats just me im long and will definitely close tonight hopefully lol short tomorrow is the plan
  • #144,319
  • Jul 8, 2009 3:29pm Jul 8, 2009 3:29pm
Quoting taragula
Maybe back to the 1.580 now? It seems like.....or doesn"t?
where do you see that? u are short?
  • #144,320
  • Jul 8, 2009 3:31pm Jul 8, 2009 3:31pm
My last Stop was reached...

I'll smoke marijuana, and win @ asia sessions ( I HOPE ) hahahaha!!!!
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