Cable Update (GBPUSD)

Trade Idea: GBP/USD - Sell At 1.5650 http://www.actionforex.com/images/M_...rintButton.png http://www.actionforex.com/images/M_...mailButton.png Candlesticks Trades | Written by ActionForex.com | Apr 15 10 07:13 GMT | Trade Idea: GBP/USD - Sell At 1.5650

GBP/USD - 1.5497
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.5443
Kijun-Sen level : 1.5396
Ichimoku cloud top : 1.5224
Ichimoku cloud bottom : 1.5139
New strategy
Sell at 1.5650, Target: 1.5450, Stop: 1.5715
Although cable's breach of 1.5486 resistance signals recent rise from 1.4781 low is still in progress for a stronger retracement of early decline to 1.5530/40, loss of upward momentum should prevent sharp move beyond 1.5575-82 (previous resistance and 38.2% Fibonacci retracement of 1.6879 to 1.4781) and reckon selling interest would emerge around 1.5652 ((100% projection of 1.4798 to 1.5320 measuring from 1.5130) and bring retreat later. Below the Tenkan-Sen (now at 1.5443) would be the first sign that a temporary top is possibly formed and bring test of the Kijun-Sen (now at 1.5396) but break of support at 1.5335 is needed to confirm.
In view of the above analysis, we are inclined to venture selling cable on subsequent rally as 1.5691 (100% projection of 1.5130 to 1.5486 measuring from 1.5335) should hold. Only above 1.5700/10 would risk gain to 1.5760 (61.8% projection of 1.4798 to 1.5486 measuring from 1.5335) before retreat


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i did not miss the entry i thought we will kiss the 30's cashed in some honey

was a nice call

Only able to capture 44 pips on the earlier GU drop. Turn to Long now, return of GJ will be better than GU.

how about 1.5446 ?? so after that we could g0 right 100 pips up...

egkid, close your short please... i need money...

Good to see you , I just thought I'd post here this morning as someone we know wanted to follow my trade on GU, though normally I'd post in the EU thread. Yes, had the EU trade, already took partial, check out my post:
http://www.forexfactory.com/showpost...stcount=225984
and the earlier one where I indicated the trend change and my strategy for the morning.

Made nice profits on the short today. Just gone long, although I think it might test DP - hope not - long 123 trade just triggered

If dont pass 5470 within the next 45 mins, it means the short has not over.

That cool to know we both on same line
Me too sell e/u 1.3660

Hope u post here some more to share our view , I don't post much at e/u thread sorry , I guess u know why , " too many ....."

Sorry, should be 5485.

bulls getting slaughtered

on my fibo of the upmove we retraced to exactly 38.2... should target 5580?

Mni suggesting an exotic strike option at 5450 to roll off @ NY cut, some digital demand likely below and further demand around 5430/25 likely-makes sense in light of the fibs at both areas I guess.

Other news: investment banks sell Eurjpy and Citi FX so bullish of CAD they can't see straight

Hi Nice to see u today
Was asking about you yesterday, haven't see u for while.
Hope all fine
No worry Thanks for caring

anybody get the repeating regular bullish divergence pattern in 5min gbpusd with the bullish engulfing trigger? gotta assume every move is a pullback until price action suggest otherwise....

http://i44.tinypic.com/119ul1f.jpg

Nah... the order has not been filled, at least not yet and either it get to that point or I let it be without adding to my current positions.

This is for those waiting to go Long... 1.5440

If that breaks we could see 1.5350

[IMG]file:///C:/DOCUME%7E1/ADMINI%7E1/LOCALS%7E1/Temp/moz-screenshot.png[/IMG]for reference

it will bro saber