I think if we see a rise (which is unlikely) which breaks the last high pair is defo going to trend up....
Cable Update (GBPUSD)
- #152,882
- Jul 30, 2009 6:25am Jul 30, 2009 6:25am
- | Joined Oct 2008 | Status: Trader | 1,035 Posts
Hooray....
What do traders eat for lunch?
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.
ROBOT FOREX
- #152,883
- Jul 30, 2009 6:25am Jul 30, 2009 6:25am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
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.
Have a good one
.
Thank You 
- #152,885
- Jul 30, 2009 6:26am Jul 30, 2009 6:26am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
- #152,887
- Jul 30, 2009 6:27am Jul 30, 2009 6:27am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You
- #152,888
- Jul 30, 2009 6:29am Jul 30, 2009 6:29am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Yep......My only mistake was not following the lower one and buying off it at the bottom yesterday. Still learning...
Thank You
- #152,890
- Jul 30, 2009 6:35am Jul 30, 2009 6:35am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
- #152,893
- Jul 30, 2009 6:41am Jul 30, 2009 6:41am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Wow..almost 200pips miss the train..mm...still in my vacation mood...
I saw 100pips on the way from 1.65 just now...but dun follow as am not in trading today...
I saw 100pips on the way from 1.65 just now...but dun follow as am not in trading today...
- #152,894
- Jul 30, 2009 6:42am Jul 30, 2009 6:42am
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #152,896
- Jul 30, 2009 6:50am Jul 30, 2009 6:50am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Yeah but I regard the PA of the past few weeks as a range not a trend - see my chart from this am.
Ain't forex wonderful - 2 guys can look at the same chart and see completely different things....
There are other reasons for my refusal to go long from here on too.
If you remembered I was long when price closed above 6165 earlier this month & held because of the double bottom @6400 when some were calling it to drop. That played out too. But since then we've maxed out the upmove and failed twice to close higher above the descending trendline. That changed my perception. If this range close anywhere near 6300 level or lower we'll have a round top formation on H4 & daily double top.
I'm not ditching the idea for long btw, either from a much lower point or price needs to close above 6600 from where we stand right now like I've mentioned since last month for me to go long.
Have a good one
Thank You
- #152,899
- Jul 30, 2009 6:54am Jul 30, 2009 6:54am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
I agree regarding the range, no two ways about it. But you did also ask why picking tops. I don't know why or where the rest of the fellas here pick theirs. I was trying to point out to you the obvious tops from my point of view.
There are other reasons for my refusal to go long from here on too.
If you remembered I was long when price closed above 6165 earlier this month & held because of the double bottom @6400 when some were calling it to drop. That played out too. But since then we've maxed out the upmove and failed twice to close higher above...
- #152,900
- Jul 30, 2009 6:54am Jul 30, 2009 6:54am
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!