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Cable Update (GBPUSD)

  • #152,861
  • Jul 30, 2009 6:07am Jul 30, 2009 6:07am
Quoting stewrigh
Can someone help me out here - I think I must be missing something...

I've looked at every timeframe over H1 and in all of them the trend is up.

Why then does everyone here keep trying to call a top - am I missing something.

Yeah it might pullback - but leave it alone til it does and get on with the trend not against.

Maybe I missed something - can someone post a chart(not m1 plse) to show the downtrend.
Great Post. Trying to guess tops is a dangerous game. Like others here I am looking for a place to load shorts- but I don't think we're there yet and I'm happy to wait and see how this bull and bear battle plays out and then trade whichever side wins.

I'm think there's a good chance we'll see 1.6700- not saying we will, but I think it's a strong possibility.

And if it breaks 1.6740 then maybe even higher- though I do expect a reversal eventually.
  • #152,862
  • Jul 30, 2009 6:08am Jul 30, 2009 6:08am
Quoting dswk

Fully agreed.
We will see 1.66/1.67 zone certainly very fast...
it is up trend but its going to pullback now. if you see, at the 4h, there's resistance at 16500.

well i ve been using this channel and pretty simple and good for trade
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  • #152,863
  • Jul 30, 2009 6:09am Jul 30, 2009 6:09am
You think US news might affect the predictions....?
  • #152,864
  • Jul 30, 2009 6:09am Jul 30, 2009 6:09am
Quoting albchr
....I knew you'd post that or the daily....
lol. pretty obvious innit? we're not guessing here.
That line had served me well
Thank You
  • #152,865
  • Jul 30, 2009 6:11am Jul 30, 2009 6:11am
Here we go....
  • #152,866
  • Jul 30, 2009 6:11am Jul 30, 2009 6:11am
wow.. what a nice move with this morning got buy on deep and now sell back at 1.6485
GELORE
  • #152,867
  • Jul 30, 2009 6:13am Jul 30, 2009 6:13am
As long as the bounce stays below the pink area... Shorties are in business.....
Stairway to hell will be forming.
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,868
  • Jul 30, 2009 6:13am Jul 30, 2009 6:13am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Steve,

You are right, trend is up. But long term trend not for intraday. I trade daily charts everyday and have several open positions at any given time.

I buy/addon to buy on drops and sell/addon to sell on tops , lol :-)

The crux is, major trend is bullish BUT for intraday traders it's all about trend they follow i.e. relevant timeframe charts they are trading.







Quoting stewrigh
Can someone help me out here - I think I must be missing something...

I've looked at every timeframe over H1 and in all of them the trend is up.

Why then does everyone here keep trying to call a top - am I missing something.

Yeah it might pullback - but leave it alone til it does and get on with the trend not against.

Maybe I missed something - can someone post a chart(not m1 plse) to show the downtrend.
  • #152,869
  • Jul 30, 2009 6:14am Jul 30, 2009 6:14am
Quoting Bull_Bear
As long as the bounce stays below the pink area... Shorties are in business.....
Stairway to hell will be forming.
Thank You
  • #152,870
  • Jul 30, 2009 6:15am Jul 30, 2009 6:15am
Quoting wormboy
lol. pretty obvious innit? we're not guessing here.
That line had served me well
lines break. Sure I think it's worth a go shorting at this level with a stop just beyond the resistance- but staying in a short from much lower just because of that line is a risky business unless you've got the capital to handle a potentially substantial drawdown.
  • #152,871
  • Jul 30, 2009 6:15am Jul 30, 2009 6:15am
hahaah now I short ..whatever ..It will go down eventually ......just sit down ..watching the show
  • #152,872
  • Jul 30, 2009 6:16am Jul 30, 2009 6:16am
Quoting wormboy
lol. pretty obvious innit? we're not guessing here.
That line had served me well
Yep......My only mistake was not following the lower one and buying off it at the bottom yesterday. Still learning...
Ghost Rider - WWTBMD?
  • #152,873
  • Jul 30, 2009 6:16am Jul 30, 2009 6:16am
cya later

http://www.traderslaboratory.com/for...ship-6320.html

this wasnt the example i was looking for but a very good read
  • #152,874
  • Jul 30, 2009 6:17am Jul 30, 2009 6:17am
Quoting ranhat007
hahaah now I short ..whatever ..It will go down eventually ......just sit down ..watching the show
no doubt enjoy the bear show now!
ROBOT FOREX
  • #152,875
  • Jul 30, 2009 6:19am Jul 30, 2009 6:19am
3 top testers all around the same point on 15m chart.....
  • #152,876
  • Jul 30, 2009 6:20am Jul 30, 2009 6:20am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Folks are back from lunch.... reversal........



Quoting Kamikaze456
I shall take a leaf out of your book....

11:10 Toast and a cup of tea-Breakfast

11:15 A nice baguette-Lunchtime!!!!!
  • #152,877
  • Jul 30, 2009 6:21am Jul 30, 2009 6:21am
I have yet to place a sell order...a bit cautious....A buy rise could still happen

I am waiting for some MA's to cross then I shall make my move
  • #152,878
  • Jul 30, 2009 6:21am Jul 30, 2009 6:21am
Quoting wormboy
here you go my friend [

http://www.forexfactory.com/attachme...1&d=1248460512

I guess it depends how u draw the trend lines lol.

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  • #152,879
  • Jul 30, 2009 6:21am Jul 30, 2009 6:21am
Quoting ams
Folks are back from lunch.... reversal........

Hooray....

BTW what did you eat?...

What do traders eat for lunch?
  • #152,880
  • Jul 30, 2009 6:24am Jul 30, 2009 6:24am
At this point I'm hoping 6500 will hold. I'm at BE+ 1 and it might be too soon for that. But at least I can't loose.
Ghost Rider - WWTBMD?
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