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Cable Update (GBPUSD)

  • #148,761
  • Jul 21, 2009 2:38pm Jul 21, 2009 2:38pm
Quoting UncleSam123
Anybody still long or just me?
still long from 6393 with a stop at breakeaven.
I'm letting this ride till it prove me wrong at least till 6480 region
  • #148,762
  • Jul 21, 2009 2:39pm Jul 21, 2009 2:39pm
Hi Wormboy, are you looking at short now till 6220

Quoting wormboy
All I need now is the daily close before I go on a selling frenzy.
6220 level is what I'm looking at.

h4 : http://www.forexfactory.com/showpost...stcount=148520

Attached below is the half day chart.


Good luck fellas.
Disclaimer: Check your 1m charts
  • #148,763
  • Jul 21, 2009 2:45pm Jul 21, 2009 2:45pm
Last night I really enjoyed the ride with gbp/usd it was just amazing, hopefully this night is gonna make all of us happy again when its gonna slide down.
  • #148,764
  • Jul 21, 2009 2:46pm Jul 21, 2009 2:46pm
Quoting djambazov84
hey there buddy
just wanted to mention that unfortunately none of these is a h&s formation
especially the second one. h&s cannot be a continuation pattern
as for the top one: you had a bearish divergence on the higher high @ 1.6560, sell off and then a bear flag best seen on the 15M chart. trust when there is h&s you WILL see it and identify.
Many thanks
  • #148,765
  • Jul 21, 2009 2:54pm Jul 21, 2009 2:54pm
Short 1.6430
Disclaimer: Check your 1m charts
  • #148,766
  • Jul 21, 2009 3:01pm Jul 21, 2009 3:01pm
Look at hammer on 4hr just closed!
  • #148,767
  • Jul 21, 2009 3:15pm Jul 21, 2009 3:15pm
It is still pushing up but I think soon it will test 1,6267 and probably go even lower than that. Probably this month we'll test 1,5952.
"Hate the sin, love the sinner." - Gandhi
  • #148,768
  • Jul 21, 2009 3:22pm Jul 21, 2009 3:22pm
is anyone else see the 4hr hammer as very bullish, plus the 4hr trendline that held.
  • #148,769
  • Jul 21, 2009 3:24pm Jul 21, 2009 3:24pm
Hey everyone, hows the trades going?
Ghost Rider - WWTBMD?
  • #148,770
  • Jul 21, 2009 3:26pm Jul 21, 2009 3:26pm
see 4hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jul. 21 15.24.gif Size: 26 KB
  • #148,771
  • Jul 21, 2009 3:27pm Jul 21, 2009 3:27pm
Yes bullish but I still won't enter a trade in this direction. At least wait for the new daily candle and buy on QQE cross at 50 line on 1H chart, this is how I would enter the buy trade.
"Hate the sin, love the sinner." - Gandhi
  • #148,772
  • Jul 21, 2009 3:27pm Jul 21, 2009 3:27pm
I see that hammer also, but the volume is significantly less than previous bar. It looks like she's gonna stall now.

For the Murrey Math-ers... it's at +1/8 Reversal Line. We'll see what happens.
A pip is only worth it if you know how much you risked to earn it
  • #148,773
  • Jul 21, 2009 3:30pm Jul 21, 2009 3:30pm
should have kept my long at 1.6400 for another bit longer to gain another 30 pips. Ah well
Disclaimer: Check your 1m charts
  • #148,774
  • Jul 21, 2009 3:30pm Jul 21, 2009 3:30pm
6460 has been very good resistence. Taking the shot short at 6454. We'll see.....
Ghost Rider - WWTBMD?
  • #148,775
  • Jul 21, 2009 3:33pm Jul 21, 2009 3:33pm
Quoting albchr
6460 has been very good resistence. Taking the shot short at 6454. We'll see.....
Yeap, 6479 it is a good resistance too.
"Hate the sin, love the sinner." - Gandhi
  • #148,776
  • Jul 21, 2009 3:34pm Jul 21, 2009 3:34pm
Quoting direct-trade
Still Short from 16550. Price Action on Cable producing good Head and Shoulder formations today (30 min). Right Shoulder on 30 min under construction, neckline will be tough to break where it meets at the 4hr lower trendline. BUT, it will break down with selling pressure later/during JPN session.

Just what my charts tell me...:nerd:

See you tomorrow. Happy trades

Last night movement was a classic retrace to the 61.8. And has taken nice bounce off the LTL. My 2-3ema (light arrows) has crossed in all but the 4hr. Price coming out of OS conditions in the 1 and 4hr. Scho's.

Daily RSI and Bollinger have plenty room for up move.

Was waiting for my 5-6ema 4 hr cross (dark arrows), but pulled trigger on 1hr confirmation and now up 47 pips. Maximum target tonight is 1.6710.


With this FIFO nonsense coming down the pike, I gotta make that first trade a good one. For me crossovers (which is a direct function of PA) is the way to go.

Happy Trading
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0717b.gif Size: 36 KB
  • #148,777
  • Jul 21, 2009 4:02pm Jul 21, 2009 4:02pm
Quoting albchr
6460 has been very good resistence. Taking the shot short at 6454. We'll see.....

Stopped out at BE+1 ....LOL

TL held last hour. Seems to be holding still. Might get back in.
Ghost Rider - WWTBMD?
  • #148,778
  • Jul 21, 2009 4:12pm Jul 21, 2009 4:12pm
i ma still long since 1.6390 ....

Quoting UncleSam123
Anybody still long or just me?
  • #148,779
  • Jul 21, 2009 4:17pm Jul 21, 2009 4:17pm
Which way will the triangle break? Methinks to the south and if the 4HR TL is taken out below 6360. yeeikes. Looks poised acaross the board for a dollar rally. Closing above 6500 would be your upward break.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 28 KB
There's always money in the banana stand.
  • #148,780
  • Jul 21, 2009 4:24pm Jul 21, 2009 4:24pm
turveyd, how do you see this?
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