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Cable Update (GBPUSD)

  • #151,021
  • Jul 26, 2009 6:55pm Jul 26, 2009 6:55pm
Quoting forexlion
what was I thinking when I said this

Good Morning folks
The bounce too now in the region of 50 pips.
Great Bodies are Engineered not Born
  • #151,022
  • Jul 26, 2009 6:55pm Jul 26, 2009 6:55pm
Kindof new to this forum. hopefully can get some guidance for you guy. Thanks
  • #151,023
  • Jul 26, 2009 7:00pm Jul 26, 2009 7:00pm
Quoting forexlion

Long enough to make some pips!
  • #151,024
  • Jul 26, 2009 7:05pm Jul 26, 2009 7:05pm
Quoting mighthero2
Kindof new to this forum. hopefully can get some guidance for you guy. Thanks
Hi,
I am playing a slightly longer game than others on the forum, my twopence worth at present is after 2 down days the % chance of it being an up day is about 12% so I will tend to trade from the longe side.

This was a problem for me initially as after trading shares you expect them when they go to go, currancies are just so different.

I hope this helps some, whather it does or not depends on where you are and what time frames you are wanting to trade.

For the record, I do not trade well enough to do it for a living, but feel I can contribute.

Happy trading.
  • #151,025
  • Jul 26, 2009 7:06pm Jul 26, 2009 7:06pm
Your analysis for G/U went down to 1.6383 was excellent. It actually went down to 1.6381. I just logged in to my computer and i am in green pips. Actually I had buy order @ 1.64.


It is right now 10:00 pm eastern time and I hope that it won't retest 1.6380 hope not........

Once it crosses 1.6480 then I think PT would probably be 1.6520+ by US open.....

Thanks,

Alqaz Syed.
  • #151,026
  • Jul 26, 2009 7:11pm Jul 26, 2009 7:11pm
Good morning everyone!

If we are going to work off the 5min chart, lets go to the tick and 1 min...

1 min shows me we are going to break above 16450 area within the hour.

Probably a little descent from here to collect a few more Buy orders around 16420-30 area, then a snap over the 16440 resistance line.

Watching the tick for quick jumps in price..to try and figure speed/volume of Buy orders...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 26-07-01.gif Size: 17 KB
  • #151,027
  • Jul 26, 2009 7:16pm Jul 26, 2009 7:16pm
1..6270 @ 38.2% look possible...but am taking my rest for GU atm...see how today London react and Monday close to give me some clue...Good luck..
Attached Image (click to enlarge)
Click to Enlarge Name: 12.JPG Size: 101 KB
  • #151,028
  • Jul 26, 2009 7:19pm Jul 26, 2009 7:19pm
Have to write quickly as this develops...

Tick...Inverses Head and Shoulders, Resistance turned support, Price conforming to Blue Channel on chart etc etc..

16440/50 first stop before retest of Friday's high.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 26-07-02.gif Size: 16 KB
  • #151,029
  • Jul 26, 2009 7:21pm Jul 26, 2009 7:21pm
Quoting albchr
I'm "thinking" so but not sure yet. This is my first attempt at the 5M but I need one or two more bars to see. I have no doubts it's going down. Just when is the only question...LOL
5M bars are starting to run flat and the MACD is starting to round the top.

what ... 5 m !!! lol

I know you are mad at me .... I meant nothing by what i said

here is 5 min chart with very clear vsa entries at top and bottoms.

1st on ...doji on green body no volume = no demand on high vol pivot 3 days back
2nd one high volume down bar at bottom of 1 hour channel 6380
3rd one high vol wide spread up bar (ultra high ) = sellers .... also right under Friday vwap and resistance area on left of chart

really straight forward trading today off my 5 min charts....

Attached Image (click to enlarge)
Click to Enlarge Name: chart97.png Size: 173 KB
Blogging daily now at www.volume.zone
  • #151,030
  • Jul 26, 2009 7:27pm Jul 26, 2009 7:27pm
3m in chart a thing of wonder this evening on gu

Attached Image (click to enlarge)
Click to Enlarge Name: chart98.png Size: 186 KB
Blogging daily now at www.volume.zone
  • #151,031
  • Jul 26, 2009 7:30pm Jul 26, 2009 7:30pm
Quoting malcolmb14
what ... 5 m !!! lol

I know you are mad at me .... I meant nothing by what i said

LOL...not mad at all. You were just being a little presumptuous so I thought I'd say so. I don't know if you read my post regarding what I felt I needed to learn after the past two weeks but I wasn't kidding...LOL

I have a very open mind and only a 10 month trading experience. The last two live with a small account and a seemingly impossible task.

I figured the Asian session (not what I normally trade) would be a nice slow warm up for watching and learning the 5M. I need to learn ALL styles to handle any situation. That's all....
Ghost Rider - WWTBMD?
  • #151,032
  • Jul 26, 2009 7:32pm Jul 26, 2009 7:32pm
Quoting qp2
Hi,
I am playing a slightly longer game than others on the forum, my twopence worth at present is after 2 down days the % chance of it being an up day is about 12% so I will tend to trade from the longe side.

This was a problem for me initially as after trading shares you expect them when they go to go, currancies are just so different.

I hope this helps some, whather it does or not depends on where you are and what time frames you are wanting to trade.

For the record, I do not trade well enough to do it for a living, but feel I can contribute....
do not guess ...

those red line on my chart are the value area for Friday . Friday was a narrrow spread day with upper value are 1.6462 , lower value area 1.6410

Right now price is above the lower value are and has strong chance to move into 1.6460 ( if reason to )

once above the upper value area of Friday then we are liekly to get a buy day with a high above Friday ( note high , not necessarily close)

Attached Image (click to enlarge)
Click to Enlarge Name: chart99.png Size: 183 KB
Blogging daily now at www.volume.zone
  • #151,033
  • Jul 26, 2009 7:34pm Jul 26, 2009 7:34pm
Quoting albchr
LOL...not mad at all. You were just being a little presumptuous so I thought I'd say so. I don't know if you read my post regarding what I felt I needed to learn after the past two weeks but I wasn't kidding...LOL

I have a very open mind and only a 10 month trading experience. The last two live with a small account and a seemingly impossible task.

I figured the Asian session (not what I normally trade) would be a nice slow warm up for watching and learning the 5M. I need to learn ALL styles to handle any situation. That's all....
tell you the truth asai has been one of my fav session to trade last few months. From about 4 pm to 8pm pst. US and London I have found to be very ' jumpy' whereas asia is like taking candy from a baby
Blogging daily now at www.volume.zone
  • #151,034
  • Jul 26, 2009 7:41pm Jul 26, 2009 7:41pm
Quoting malcolmb14
tell you the truth asai has been one of my fav session to trade last few months. From about 4 pm to 8pm pst. US and London I have found to be very ' jumpy' whereas asia is like taking candy from a baby
Yeah, that's what I meant by slow in Asian...LOL

Here we seem to be stuck right between a S/R 6430 and LTL. Break the red I'll go short, the green I'll go long. I'm thinking short. But again, completely new to this tf...
Attached Image (click to enlarge)
Click to Enlarge Name: gu_5m.gif Size: 23 KB
Ghost Rider - WWTBMD?
  • #151,035
  • Jul 26, 2009 7:41pm Jul 26, 2009 7:41pm
while I admit forexlion did call that nicely earlier ... it is no magic .

we are in a channel 1.6380 to 1.6580

the fact that the bottom of the channel has been tested in asia is of interest.

there is a secondary channel 1.6380 to 1.6480 with in the primary channel

enjoy

Attached Image (click to enlarge)
Click to Enlarge Name: chart100.png Size: 229 KB
Blogging daily now at www.volume.zone
  • #151,036
  • Jul 26, 2009 7:45pm Jul 26, 2009 7:45pm
Quoting albchr
Yeah, that's what I meant by slow in Asian...LOL

Here we seem to be stuck right between a S/R 6430 and LTL. Break the red I'll go short, the green I'll go long. I'm thinking short. But again, completely new to this tf...
lunch time now in tokyo for another 45 min ....

always slow right now ... most of action occurs in Asia 4 pm to 7 pm pst

1.6400 test may be place to look for a little long although there does seem to be some buyers at high vol pivot 9 days back at 1.6418
Blogging daily now at www.volume.zone
  • #151,037
  • Jul 26, 2009 7:48pm Jul 26, 2009 7:48pm
Quoting malcolmb14
while I admit forexlion did call that nicely earlier ... it is no magic .

we are in a channel 1.6380 to 1.6580

the fact that the bottom of the channel has been tested in asia is of interest.

there is a secondary channel 1.6380 to 1.6480 with in the primary channel

enjoy

Attachment
Oh heck, even I knew 6380 was a good S/R for a bounce....LOL Rode it all the way up too. Out now but looking to short. Nothing solid and no decisions yet but I have my doubts about reaching 6460 anytime too soon. Maybe London.
Ghost Rider - WWTBMD?
  • #151,038
  • Jul 26, 2009 7:50pm Jul 26, 2009 7:50pm
Quoting malcolmb14
lunch time now in tokyo for another 45 min ....

always slow right now ... most of action occurs in Asia 4 pm to 7 pm pst

1.6400 test may be place to look for a little long although there does seem to be some buyers at high vol pivot 9 days back at 1.6418
Looks like a choppy trade until London or NY session. It's directionless as I see it now
  • #151,039
  • Jul 26, 2009 7:52pm Jul 26, 2009 7:52pm
Quoting malcolmb14
do not guess ...

those red line on my chart are the value area for Friday . Friday was a narrrow spread day with upper value are 1.6462 , lower value area 1.6410

Right now price is above the lower value are and has strong chance to move into 1.6460 ( if reason to )

once above the upper value area of Friday then we are liekly to get a buy day with a high above Friday ( note high , not necessarily close)

Attachment
many thanks
  • #151,040
  • Jul 26, 2009 7:54pm Jul 26, 2009 7:54pm
Yep, bars and MACD running flat. Taking a break and a nap before London. Catch you all then....
Ghost Rider - WWTBMD?
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