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Cable Update (GBPUSD)

  • #204,001
  • Mar 7, 2010 10:58pm Mar 7, 2010 10:58pm
Quoting Magix
It's playing the retrace on topside resistance.

I think it is a valid play.....

1hr resist...30m pull back

Trace back to London top to close Friday range before London open possibility.
i see it magix..thx bro..there's a 200EMA resistance on 1H chart, right magix?

let's see how price react from here..
  • #204,002
  • Mar 7, 2010 11:02pm Mar 7, 2010 11:02pm
Quoting AlieyFx
i see it magix..thx bro..there's a 200EMA resistance on 1H chart, right magix?

let's see how price react from here..
30m chart confirmed with no pullback.

Needs to play the pull back to sustain the run to long


Watch for cross below 24sma on 30m chart and look for entry if you are looking for long side buy opportunities.

Just a guess...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #204,003
  • Mar 7, 2010 11:07pm Mar 7, 2010 11:07pm
Quoting Magix
It's playing the retrace on topside resistance.

I think it is a valid play.....

1hr resist...30m pull back

Trace back to London top to close Friday range before London open possibility.
Thanx magix , wasent calling the trader out lol, just reasons help everybody. I knew or thought I knew what he was watching, I had some valid reasons too as I am short, scalp trade for me as I was in just a little higher and have taken some profit already as it is back to my average band but looking at the days open area beyond the band , I have had a few scalp longs from todays open and now a few shorts looking for a possibility of going back to the open , just playing what the market gives till london . Yes I know these do not count as they were not posted earlier but a chart that shows the price action with the levels mentioned may stoke some traders creativity and as you say there is a lot of ways to skin a cat
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  • #204,004
  • Mar 7, 2010 11:12pm Mar 7, 2010 11:12pm
Quoting digger1
Thanx magix , wasent calling the trader out lol, just reasons help everybody. I knew or thought I knew what he was watching, I had some valid reasons too as I am short, scalp trade for me as I was in just a little higher and have taken some profit already as it is back to my average band but looking at the days open area beyond the band , I have had a few scalp longs from todays open and now a few shorts looking for a possibility of going back to the open , just playing what the market gives till london . Yes I know these do not count as they were...
Thanks for the chart dig...
I am in bed working off my laptop, it's a pain in the nuts to edit and post charts.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #204,005
  • Mar 7, 2010 11:19pm Mar 7, 2010 11:19pm
Quoting Magix
Thanks for the chart dig...
I am in bed working off my laptop, it's a pain in the nuts to edit and post charts.

ah ha ha , your 15 minute chart shows the same thing , it bounced off the 24sma, which was in the todays open area at that time , I like getting closed trades at better than 100 pips but ya know 4 or five smaller ones add up the same way lol
  • #204,006
  • Mar 7, 2010 11:23pm Mar 7, 2010 11:23pm
Quoting AlieyFx
i see it magix..thx bro..there's a 200EMA resistance on 1H chart, right magix?

let's see how price react from here..
First post here everyone. Just joined tonight. Have been reading here a lot lately though. Very active forum. Gotta love it!

On the short taken at 1.5177, this is the .382 retracement of the move from 1.5815 to 1.4782. Could be a good short, but I'm looking for at least the .5 level around 1.53. Would like to see an hrly candle close above 1.5180 though.

Good trading to all
  • #204,007
  • Mar 7, 2010 11:30pm Mar 7, 2010 11:30pm
if 5150 support breaks, cable will topple couple of 100 pips
  • #204,008
  • Mar 7, 2010 11:32pm Mar 7, 2010 11:32pm
Quoting forexlion
if 5150 support breaks, cable will topple couple of 100 pips
but dun know why i am still expecting some move to 5227 approx
  • #204,009
  • Mar 7, 2010 11:34pm Mar 7, 2010 11:34pm
Watch out shorters ! During the NY session bulls will be back to finish the job ( or maybe sooner at the London open)...
  • #204,010
  • Mar 7, 2010 11:52pm Mar 7, 2010 11:52pm
Okay, I am shorting cable to 5075 the weekly pivot
  • #204,011
  • Mar 7, 2010 11:54pm Mar 7, 2010 11:54pm
Quoting Lordpip
Watch out shorters ! During the NY session bulls will be back to finish the job ( or maybe sooner at the London open)...
Yeah, I see what you mean...

http://img197.imageshack.us/img197/5...hforkrenko.png
  • #204,012
  • Mar 8, 2010 12:01am Mar 8, 2010 12:01am
Quoting forexlion
Okay, I am shorting cable to 5075 the weekly pivot
thanks for long entry Preet ....
Blogging daily now at www.volume.zone
  • #204,013
  • Mar 8, 2010 12:03am Mar 8, 2010 12:03am
Quoting malcolmb14
thanks for long entry Preet ....
I got in long too...ty.
  • #204,014
  • Mar 8, 2010 12:08am Mar 8, 2010 12:08am
Quoting forexlion
Okay, I am shorting cable to 5075 the weekly pivot
Upside should be limited by 5176 bringing fall resumption
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  • #204,015
  • Mar 8, 2010 12:11am Mar 8, 2010 12:11am
Quoting malcolmb14
thanks for long entry Preet ....
no problem, enjoy it if you manage to get it
  • #204,016
  • Mar 8, 2010 12:12am Mar 8, 2010 12:12am
Quoting forexlion
Upside should be limited by 5576 bringing fall resumption
thanks for target
Blogging daily now at www.volume.zone
  • #204,017
  • Mar 8, 2010 12:13am Mar 8, 2010 12:13am
Quoting forexlion
Upside should be limited by 5176 bringing fall resumption
with 1 hour macd loosing strength its a waiting game
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  • #204,018
  • Mar 8, 2010 12:14am Mar 8, 2010 12:14am
Quoting malcolmb14
thanks for target

im long too!
  • #204,019
  • Mar 8, 2010 12:24am Mar 8, 2010 12:24am
dont you think this one is headed up for the week?
  • #204,020
  • Mar 8, 2010 12:27am Mar 8, 2010 12:27am
Quoting alex1976
dont you think this one is headed up for the week?
5176 is kiss of death level as per daily currently

unless daily macd turns otherwise

the last time it happened was 16 feb, check my chart
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