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Cable Update (GBPUSD)

  • #229,921
  • Jun 4, 2010 8:05am Jun 4, 2010 8:05am
Quoting malcolmb14
http://www.marketwatch.com/story/hir...10-06-04-83100

431 k seasonal job 450 k nfp ...that makes a mere 19 k new job created in private sector and even these could be seasonal .
A nice explanation, thanks !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #229,922
  • Jun 4, 2010 8:13am Jun 4, 2010 8:13am
Quoting kill56
mal what the volume in this move down on both eu and gu plz

really high but no buying reaction

I am looking for rallies on a 5 min with no demand bars ( very low vol up bars0 to sell into

aj I have 72.5 target
gu 1.4250 maybe lower
es 950

now if es 950 works out gu and aj targets way lower ....

everything is in bear flags ....
Blogging daily now at www.volume.zone
  • #229,923
  • Jun 4, 2010 8:30am Jun 4, 2010 8:30am
Quoting nishant105
i see cable at 1.465 before close

well so far on drop to major support es we got NO bounce

if 1080 gives way we may see 1060 today 20 points lower


gu has completed ONLY a 140 pip range day average is 190 and on days like today it can move 250

we could see 1.4430 before days end

I am looking for an up move to 4600 and then looking for weakness in that area
Blogging daily now at www.volume.zone
  • #229,924
  • Jun 4, 2010 8:35am Jun 4, 2010 8:35am
Quoting Nene
If this support line goes, look out.
Nene mate 1.4540 support is strong.. 3 areas of confluence mate, I'm a buyer, not a seller.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #229,925
  • Jun 4, 2010 8:39am Jun 4, 2010 8:39am
Quoting Bull_Bear
Nene mate 1.4540 support is strong.. 3 areas of confluence mate, I'm a buyer, not a seller.
wow nice.. two great traders have two different opinions.. looking forward to see how this day ends. But, this support will be breached today.. that is how i look at my chart.. very high volume, no bounce..
  • #229,926
  • Jun 4, 2010 9:01am Jun 4, 2010 9:01am
lets see what london close will do i think we are stuck here for now
  • #229,927
  • Jun 4, 2010 9:04am Jun 4, 2010 9:04am
this is Friday, market usually move near London close,
if big player want it to go down (break this range) so london close will goes up, if london close just quit that's mean big boys still confuse, so we are still in this range and will goes up.
question??

- so it's goes up??

don't know, don't ask me...


come on guys..,this is Friday (and almost close) just enjoy the show...let people who has much money decide...
I will be the number one Manager.
  • #229,928
  • Jun 4, 2010 9:09am Jun 4, 2010 9:09am
Volume seems to be dropping as GU tests lows(major support) again....
  • #229,929
  • Jun 4, 2010 9:11am Jun 4, 2010 9:11am
Quoting Magix
Cable keeping with the program...

H4 Sherpa sell, targeting support in the 1.42s.

http://www.forexfactory.com/showpost...stcount=229577
Magix,

What is the reference to Sherpa mean? Sorry id this is a stupid question!
  • #229,930
  • Jun 4, 2010 9:21am Jun 4, 2010 9:21am
Quoting langdonb
Magix,

What is the reference to Sherpa mean? Sorry id this is a stupid question!

Magix talks in riddles ... you see that way no one understands him , then when market does something he says . see told you so ...

lol just pulling your leg Mag .. before you roast me.
Blogging daily now at www.volume.zone
  • #229,931
  • Jun 4, 2010 9:26am Jun 4, 2010 9:26am
Long at 4568.... that dropping volume was good sign
  • #229,932
  • Jun 4, 2010 9:26am Jun 4, 2010 9:26am
will london and franky put the last nail in the coffin or give the last hope for longs to get out of the market lets see
  • #229,933
  • Jun 4, 2010 9:31am Jun 4, 2010 9:31am
bulls and bears really going at it !!
  • #229,934
  • Jun 4, 2010 9:37am Jun 4, 2010 9:37am
Quoting langdonb
Magix,

What is the reference to Sherpa mean? Sorry id this is a stupid question!
Cable Plays very well to the 200EMA on all time frames, somewhat of a magnet for price.

It uses this line for both support and resistance, of course depending on if price is above or below the line.

When it challenges support, if no new high is created we will see a drop to the next support range, or following time frame. Throw a 200EMA on a 1m chart and see how this plays. If no new high created on a buy chart for the 1m, the next 200 that will get tested is on the 5m chart. You can watch this move from time frame to time frame. The waves on the chart, looking at the H4 are the Sherpas plays from M1 through to the H4. Now, if no new low is created and we challenge the 200 on H4 again, my target longs will be the 200EMA on daily.

The Sherpa reference...

When I see a touch of s/r for the first time, I look for reversal and to take profit on the challenge of new high/lows....So, if you look at the M30 chart posted, Sherpa Buy off the M30 200EMA, no new high created...

Sherpa Sell off the H4 200EMA to test base support in the 1.42 area.

Probably as clear as mud...Anyways...heres a couple charts that will hopefully help you see the Sherpa.

I have also posted reference to the Sherpa Here.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Sherpa30.jpg Size: 117 KB
Click to Enlarge Name: sherpah4.jpg Size: 120 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #229,935
  • Jun 4, 2010 9:40am Jun 4, 2010 9:40am
Quoting malcolmb14
Magix talks in riddles ... you see that way no one understands him , then when market does something he says . see told you so ...

lol just pulling your leg Mag .. before you roast me.
Buwahahahahahaha.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #229,936
  • Jun 4, 2010 9:42am Jun 4, 2010 9:42am
darn i miss my images have none in this lapshitt

but sure longs are foooooooooooooooooooooked
  • #229,937
  • Jun 4, 2010 9:47am Jun 4, 2010 9:47am
Quoting Magix
Cable Plays very well to the 200EMA on all time frames, somewhat of a magnet for price.

It uses this line for both support and resistance, of course depending on if price is above or below the line.

When it challenges support, if no new high is created we will see a drop to the next support range, or following time frame....
Thank you VERY much, I will study it all and learn.
  • #229,938
  • Jun 4, 2010 9:56am Jun 4, 2010 9:56am
Attached Image
  • #229,939
  • Jun 4, 2010 10:15am Jun 4, 2010 10:15am
Continues testing support @ WH3 1.4548
Next up below is DL4 1.4526 and WH2 1.4516

Above is DL3 1.4569

As I type... now a new daily low created as DL4 approaches.

Will WH3 become the ceiling?

Dr. D.
  • #229,940
  • Jun 4, 2010 10:17am Jun 4, 2010 10:17am
Quoting fendi
How beautiful fx can be when you have your entries in green. All the way 3days of long trading.....
Swallowed up by one day of short...
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