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Cable Update (GBPUSD)

  • #229,601
  • Jun 3, 2010 4:06am Jun 3, 2010 4:06am
Quoting Seismograph
Yes, I have some “short feeling” at the moment too. The situation is not so really clear.
In fact, price action is prepared to point down. In the daily chart we had a indecisive bar yesterday and the 4 hour chart is just preparing now for a pin bar!!!
That does not look like a bull run.
The D1 does not point down either. It's indecision. Need a bearish close today to warrant selling.
Even the ltf does not point down atm. The attached m5 below shows price had stayed above day open since tokyo after a slight dip. Only a close below day open & dp permits safe short term sell imho.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 22 KB
Thank You
  • #229,602
  • Edited 4:08am Jun 3, 2010 4:06am | Edited 4:08am
Quoting Seismograph
Yes, I have some “short feeling” at the moment too. The situation is not so really clear.
In fact, price action is prepared to point down. In the daily chart we had a indecisive bar yesterday and the 4 hour chart is just preparing now for a pin bar!!!
That does not look like a bull run.


Autsch, in the last minute he turned around and prevented building that 4h pin bar.

Well, the outcome of the game is open again.
There are three kind of lies: lies, damned lies and statistics.
  • #229,603
  • Jun 3, 2010 4:09am Jun 3, 2010 4:09am
Quoting wormboy
The D1 does not point down either. It's indecision. Need a bearish close today to warrant selling.
Even the ltf does not point down atm. The attached m5 below shows price had stayed above day open since tokyo after a slight dip. Only a close below day open & dp permits safe short term sell imho.

Good luck.
its true
  • #229,604
  • Jun 3, 2010 4:17am Jun 3, 2010 4:17am
Quoting wormboy
The D1 does not point down either. It's indecision. Need a bearish close today to warrant selling.
Even the ltf does not point down atm. The attached m5 below shows price had stayed above day open since tokyo after a slight dip. Only a close below day open & dp permits safe short term sell imho.

Good luck.

Sure, for a real bearish move we need a close lower on the daily.
However, I don’t have a short open at the moment. Currently I am standing aside waiting for a better signal.
All the best to you.
There are three kind of lies: lies, damned lies and statistics.
  • #229,605
  • Jun 3, 2010 4:26am Jun 3, 2010 4:26am
I am going to long the cable because its above the 14 day EMA.
  • #229,606
  • Jun 3, 2010 4:29am Jun 3, 2010 4:29am
another failure at day open. Well protected area that.
You shall not pass!!

Inserted Video
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 23 KB
Thank You
  • #229,607
  • Jun 3, 2010 4:33am Jun 3, 2010 4:33am
Still waiting for GU to go down want to add long position that i miss before
  • #229,608
  • Jun 3, 2010 4:49am Jun 3, 2010 4:49am
Quoting pengenjago
Still waiting for GU to go down want to add long position that i miss before

You will wait for quite some time, not a lot of room left to the downside. We had some good rejections of keypoints.
  • #229,609
  • Jun 3, 2010 5:24am Jun 3, 2010 5:24am
Quoting kanakzz
I think a short at 4710 could be a good deal...

Looking good as of now !!! Take profit 4650
  • #229,610
  • Jun 3, 2010 5:56am Jun 3, 2010 5:56am
Quoting cloggie
You will wait for quite some time, not a lot of room left to the downside. We had some good rejections of keypoints.


Good to see that you've come in.

I have the feeling GU will bounce at 4660 which happens to be 50% Fib on the penultimate swing on H4.

What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: gux.gif Size: 21 KB
  • #229,611
  • Jun 3, 2010 6:05am Jun 3, 2010 6:05am
Quoting kanakzz
Looking good as of now !!! Take profit 4650
Got to hand it to you, you're a brave man. If it gets to 4650 I'll tip my hat to you. My view is that we going up to yesterday's high, plus a bit more.
  • #229,612
  • Jun 3, 2010 6:14am Jun 3, 2010 6:14am
Quoting Bydyke
Good to see that you've come in.

I have the feeling GU will bounce at 4660 which happens to be 50% Fib on the penultimate swing on H4.

What do you think?

Having had a close below 4676 after several failed attempts and lot of buying on the dips, 4658 is now becoming key for further direction.
  • #229,613
  • Jun 3, 2010 6:18am Jun 3, 2010 6:18am
Quoting Bydyke
Good to see that you've come in.

I have the feeling GU will bounce at 4660 which happens to be 50% Fib on the penultimate swing on H4.

What do you think?
Seems like a good trade to me. I am long @ 1.4460. Tight TP tho. because of news.
  • #229,614
  • Jun 3, 2010 6:23am Jun 3, 2010 6:23am
Closed at 1.4675. Just a little scalp. Whould like a close over 1.4476 before i commit to a long.
  • #229,615
  • Jun 3, 2010 6:24am Jun 3, 2010 6:24am
Quoting Sunsi
Seems like a good trade to me. I am long @ 1.4460. Tight TP tho. because of news.

Having had a failure of 4676, any longs from here before we see a rejection of 4658 is just a high risk smelly finger trade in my book. A failure of 4658 will put 4634 into play.
  • #229,616
  • Jun 3, 2010 6:27am Jun 3, 2010 6:27am
Quoting cloggie
Having had a failure of 4676, any longs from here before we see a rejection of 4658 is just a high risk smelly finger trade in my book.
I agree. But a little bounce at 4658 was very likely, and it did bounce up tp 4675 again. So i thought it was a good trade for a short scalp.
  • #229,617
  • Jun 3, 2010 6:32am Jun 3, 2010 6:32am
Quoting Sunsi
I agree. But a little bounce at 4658 was very likely, and it did bounce up tp 4675 again. So i thought it was a good trade for a short scalp.
Bounces like these of the SR's are a scalpers paradise, any failure of 4658 to the downside, would inevitably see a retest of it as resistance followed by a test of 4634 as support with a bounce back to 4658 before 4634 gives way and the play gets repeated. I am not a scalper, don't have the patience and am unwilling to give my broker that much in commissions. Playing the bounces of SR can be very profitable as long as you get good execution and little or no slippage.
  • #229,618
  • Jun 3, 2010 6:34am Jun 3, 2010 6:34am
hi all

the ema200 did hold the up move on H4 now we are below H3 but above weekly H4 we need a break on any side for now L3 is closer

i think the market will range around L3 and H3 waiting for NFP unless we break them
enjoy the ride green pips for all
Attached Image (click to enlarge)
Click to Enlarge Name: h4 cable.gif Size: 27 KB
  • #229,619
  • Jun 3, 2010 6:37am Jun 3, 2010 6:37am
Quoting cloggie
Bounces like these of the SR's are a scalpers paradise, any failure of 4658 to the downside, would inevitably see a retest of it as resistance followed by a test of 4634 as support with a bounce back to 4658 before 4634 gives way and the play gets repeated. I am not a scalper, don't have the patience and am unwilling to give my broker that much in commissions. Playing the bounces of SR can be very profitable as long as you get good execution and little or no slippage.
Good analys. You should do some scalping. Alot of money to be made. Even tho your broker makes some $. U will still make alot yourself
  • #229,620
  • Jun 3, 2010 6:38am Jun 3, 2010 6:38am
Quoting Sunsi
Good analys. You should do some scalping. Alot of money to be made. Even tho your broker makes some $. U will still make alot yourself

No thanks, I take my 2-3 trades per currency pair at 60-100 pips per trade each day and that suits me just fine.
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