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Cable Update (GBPUSD)

  • #146,201
  • Jul 14, 2009 7:27pm Jul 14, 2009 7:27pm
hai guys,
frm my point of view for now, the price might go up a bit around1.6660-1.6676( at my resistance level), US stock market rit now is a bit low comparing yesterday percentage, Euro stock market still maintain its positive percentage..

overall..its gonna go up a bit, then it will go down back..
any suggestion guy?
Attached Image (click to enlarge)
Click to Enlarge Name: cable 1 hour.jpg Size: 99 KB
  • #146,202
  • Jul 14, 2009 7:27pm Jul 14, 2009 7:27pm
we are at a strong level of resistance @ 6341, recent yesterday and today's highs.
  • #146,203
  • Jul 14, 2009 7:43pm Jul 14, 2009 7:43pm
ok
  • #146,204
  • Jul 14, 2009 8:01pm Jul 14, 2009 8:01pm
Quoting w00p
we are at a strong level of resistance @ 6341, recent yesterday and today's highs.
Its gonna break today..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #146,205
  • Jul 14, 2009 8:03pm Jul 14, 2009 8:03pm
Quoting Yngwie
Its gonna break today..
And if it does not break then do you agree to let richlady break your neck ?
  • #146,206
  • Jul 14, 2009 8:06pm Jul 14, 2009 8:06pm
The H1 PA has been diverging against the stochastic for just over 24 hours now, as the PA continues to make higher highs but the stochastic continues making lower highs.

Any thoughts?
  • #146,207
  • Jul 14, 2009 8:07pm Jul 14, 2009 8:07pm
Quoting forexlion
And if it does not break then do you agree to let richlady break your neck ?
anything she want.. LoL!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #146,208
  • Jul 14, 2009 8:34pm Jul 14, 2009 8:34pm
Quoting Yngwie
anything she want.. LoL!
okay richlady, he is all yours, he just signed the disclaimer policy
  • #146,209
  • Jul 14, 2009 8:42pm Jul 14, 2009 8:42pm
Quoting sinner-
The H1 PA has been diverging against the stochastic for just over 24 hours now, as the PA continues to make higher highs but the stochastic continues making lower highs.

Any thoughts?

In my case, I always follow the PA...till she makes higher lows...especially on the H1 chart..
Never Stop Learning...
  • #146,210
  • Jul 14, 2009 8:49pm Jul 14, 2009 8:49pm
Quoting MoForce
careful everyone... there's a real possibility of falling to 1.60XX today.
There's nothing to support a drop to .6000 at this point. Unless we break 6280.

Still waiting to see if we break .6350 on the up side. (same story, different day.) The market sentiment and technicals are leaning bullish.

Nikkei is fairly flat in early trading .26%, so the market hasn't made any big moves this morning. Maybe London will be more decisive.

Since early May, I've been bullish on the 50% retracement to .7300 before the real drop. We've been hovering around the 61.8 fib for 5 weeks now.
How 6430 plays out is the golden question but also why this area is a tough nut to crack. If we don't break the 61.8 line then we may well drop from here.

Lots of patience and small opportunities in the meantime.
Attached Image (click to enlarge)
Click to Enlarge Name: M1.jpg Size: 160 KB
  • #146,211
  • Jul 14, 2009 8:49pm Jul 14, 2009 8:49pm
Good Morning Guys....

I'm looking for another dip. The daily pin bar might be a strong one. If she breaks 6345 we may go till 6380 then to 6420.
Never Stop Learning...
  • #146,212
  • Jul 14, 2009 8:52pm Jul 14, 2009 8:52pm
gif only, no bmp
  • #146,213
  • Jul 14, 2009 8:54pm Jul 14, 2009 8:54pm
warranty void if tampered with


Quoting forexlion
okay richlady, he is all yours, he just signed the disclaimer policy
Its all in the mind.
  • #146,214
  • Jul 14, 2009 8:54pm Jul 14, 2009 8:54pm
Quoting forexlion
gif only, no bmp
thanks mate!
  • #146,215
  • Jul 14, 2009 8:58pm Jul 14, 2009 8:58pm
Quoting nihon.john
...We've been hovering around the 61.8 fib for 5 weeks now...
Yes we could definitely head upward and I think we will, but not until G/U drops again. BTW, your fib line is upside down
  • #146,216
  • Jul 14, 2009 9:08pm Jul 14, 2009 9:08pm
Quoting MoForce
Yes we could definitely head upward and I think we will, but not until G/U drops again. BTW, your fib line is upside down
Thanks.
I know the fib is upside down. I usually set mine this way for profit targets in the trend direction. Force of habit. The 50% is same and 61.8-38.2 are interchangeable.
  • #146,217
  • Jul 14, 2009 9:35pm Jul 14, 2009 9:35pm
Lion..

What is your forcast now? Are u in long position?
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #146,218
  • Jul 14, 2009 9:39pm Jul 14, 2009 9:39pm
Quoting forexlion
And if it does not break then do you agree to let richlady break your neck ?
I'm more of a heart breaker than neck breaker.
Great Bodies are Engineered not Born
  • #146,219
  • Jul 14, 2009 9:49pm Jul 14, 2009 9:49pm
Hi Richlady
don't breakheart i will let u break my neck
  • #146,220
  • Jul 14, 2009 9:54pm Jul 14, 2009 9:54pm
From my theory i want to see leg C to 1.6280 my sl will be 1.6240
but should be down this morning of wave a-b-c of C in hourly of wave 4 so complete wave 4 then we will see small high to wave 5 where i will be a seller near 1.6420-1.6450 that where i will enter short and close my ,ong currently wait for a dip to enter long as today .any suggestion please advise
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