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Cable Update (GBPUSD)

  • #153,481
  • Jul 31, 2009 3:08am Jul 31, 2009 3:08am
Quoting albchr
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm

Hang in there buddy. I closed my second lot for +4 lol

I need some sleep. This pa is screwy.

  • #153,482
  • Jul 31, 2009 3:08am Jul 31, 2009 3:08am
Quoting direct-trade
We may drop slightly from here (16560 area) to find more buyers first, but my charts tell me we will break through. They want the stops above this area IMHO.
To pick up more buyers? OK, you have me confused. Break through up or down? If up, they would want sellers. If down they would want buyers...no?

I'm on the short side and expecting it to drop.
Ghost Rider - WWTBMD?
  • #153,483
  • Jul 31, 2009 3:09am Jul 31, 2009 3:09am
Quoting albchr
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm
I smell that this b*tch falling like a comet to 6400 level after big news today, so I don't surrender! This is the most top of the channel!
ROBOT FOREX
  • #153,484
  • Jul 31, 2009 3:09am Jul 31, 2009 3:09am
Quoting albchr
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm
Don't panic - it's only a loss when you close - set your SL above the daily 0.786 - 1.6600 is a good spot. It's all wave theory!
May the forex be with you |
  • #153,485
  • Jul 31, 2009 3:09am Jul 31, 2009 3:09am
1H, sell

daily chart attach
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  • #153,486
  • Jul 31, 2009 3:10am Jul 31, 2009 3:10am
Good luck all!
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  • #153,487
  • Jul 31, 2009 3:12am Jul 31, 2009 3:12am
Quoting albchr
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm
I'm looking to buy on the dip back to 1.6520.... Another false break will really annoy me.

if she close's back inside the triangle, than we may have a false break. If she takes 1.6580 cleaning than its gone.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #153,488
  • Jul 31, 2009 3:12am Jul 31, 2009 3:12am
Quoting Forbes55
I smell that this b*tch falling like a comet to 6400 level after big news today, so I don't surrender! This is the most top of the channel!
hi forbess still with your position arround 64xx?
- Always pray on your trading - God know the best for everyone
  • #153,489
  • Jul 31, 2009 3:15am Jul 31, 2009 3:15am
Quoting kingindian
hi forbess still with your position arround 64xx?
sure
it will return there so 6600 is top of all high
ROBOT FOREX
  • #153,490
  • Jul 31, 2009 3:15am Jul 31, 2009 3:15am
I don't like this currency anymore. It doesn't drop fast enough
Disclaimer: Check your 1m charts
  • #153,491
  • Jul 31, 2009 3:17am Jul 31, 2009 3:17am
this is a time for bears!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #153,492
  • Jul 31, 2009 3:17am Jul 31, 2009 3:17am
Loosing some up steam there.... hope hope, beautiful thing that mean nothing on fx....
  • #153,493
  • Jul 31, 2009 3:18am Jul 31, 2009 3:18am
Quoting pipper
I don't like this currency anymore. It doesn't drop fast enough
Try gbp/jpy then, lol
  • #153,494
  • Jul 31, 2009 3:20am Jul 31, 2009 3:20am
I have already ready big lot bear missile rocket ready to launch at 6600 level or maybe 6580 for 100 pips down in order to cover all shorts! So you wanna try my big bear gun, you stupid currency, come on?!
ROBOT FOREX
  • #153,495
  • Jul 31, 2009 3:20am Jul 31, 2009 3:20am
Quoting FXFundi
Don't panic - it's only a loss when you close - set your SL above the daily 0.786 - 1.6600 is a good spot. It's all wave theory!

LOL..I'm not panicking. Just looking for the best moves. I actually still believe this is coming down. Right now my SL is at 6595.

I see volume rising and price coming down. I'm just beginning to look at volume so I really have no clue. But on the surface it would seem that sellers are coming in.

Could be completely wrong.
Ghost Rider - WWTBMD?
  • #153,496
  • Jul 31, 2009 3:21am Jul 31, 2009 3:21am
5min has made a LH after a LL and this might be significant for the intraday uptrend if that LL is taken out to the downside.

Time will tell.

G/L

http://i31.tinypic.com/2d1tell.gif
ex member
  • #153,497
  • Jul 31, 2009 3:21am Jul 31, 2009 3:21am
Quoting Bull_Bear
I'm looking to buy on the dip back to 1.6520.... Another false break will really annoy me.

if she close's back inside the triangle, than we may have a false break. If she takes 1.6580 cleaning than its gone.
Chris changing my assessment to the buy, US is gaining on ALL the majors. I think 1.6570 resistance may hold.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #153,498
  • Jul 31, 2009 3:23am Jul 31, 2009 3:23am
Quoting albchr
To pick up more buyers? OK, you have me confused. Break through up or down? If up, they would want sellers. If down they would want buyers...no?

I'm on the short side and expecting it to drop.
The buyers are already in from lower levels. Those who missed the boat will be waiting for a pullback from this area to buy.

If they want to take the Stops they will: Buy with 30%....market rise,take profit,slight fall....Buy 30%,market rise....take profit, SELL 100%...large fall etc.


Sellers will jump in here too, it's just a question of who will win.

My view is:

Drop slightly from here (16550/60), Sellers jump on board, Sell Stops taken out as Buyers jump back in at lower price. Right Shoulder taken out, Stops upto 16742 taken out, Huge Sell orders placed above 16742, drop to January lows.
  • #153,499
  • Jul 31, 2009 3:24am Jul 31, 2009 3:24am
Quoting albchr
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm
When this pair goes down, one must ensure to take good profits. I share the sentiment towards the short position, but nothing is to be taken for granted. Market for the last 6 weeks has been behaving in unusual way, where the well established corralations between the four major components (bond market, commodities,equities and currencies) did not play that well, which points to some well organised distribution in the Equity market IMHO. We shall see what happens to equities, if they continue to go much highier, I wonder who on earth is buying, or it could be that Marsians have arrived.
Good pips to everyone.
Make sure losses are small and profits are bigger!
  • #153,500
  • Jul 31, 2009 3:25am Jul 31, 2009 3:25am
For all you the direction is short H4 traders last night, I would just like to say DOH!!!

Mondays and Fridays over the summer look not worth bothering with
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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