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Cable Update (GBPUSD)

  • #231,961
  • Jun 16, 2010 6:26pm Jun 16, 2010 6:26pm
This is my 15min chart was stop at 3000 MA
Was sleep just now
Attached Image
GELORE
  • #231,962
  • Jun 16, 2010 6:41pm Jun 16, 2010 6:41pm
At this point just waiting on the 5 mins chart for confirmation and entry time for a short on gbp/usd.
  • #231,963
  • Jun 16, 2010 6:52pm Jun 16, 2010 6:52pm
I'm short right now at 1.47095 as my 5 mins chart confirmed it. Looking for another 30-40 pips. Good luck people.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp4.gif Size: 27 KB
  • #231,964
  • Jun 16, 2010 7:02pm Jun 16, 2010 7:02pm
Quoting Forextrader4
I'm short right now at 1.47095 as my 5 mins chart confirmed it. Looking for another 30-40 pips. Good luck people.
This is not a good place and time to short....
  • #231,965
  • Jun 16, 2010 7:08pm Jun 16, 2010 7:08pm
Quoting Honored
This is not a good place and time to short....
No its not but dont want to miss the train lol
  • #231,966
  • Jun 16, 2010 7:15pm Jun 16, 2010 7:15pm
Quoting PipBuLL007
No its not but dont want to miss the train lol

you are right my friend
i am shorting too , in the same train
t.p = .46060
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #231,967
  • Jun 16, 2010 7:18pm Jun 16, 2010 7:18pm
Quoting Honored
This is not a good place and time to short....
Believe me i know what i am doing :-) Good job to those who followed and made money again
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp4.gif Size: 27 KB
Click to Enlarge Name: gbp5.gif Size: 26 KB
  • #231,968
  • Jun 16, 2010 7:28pm Jun 16, 2010 7:28pm
Quoting PipBuLL007
No its not but dont want to miss the train lol
The train doesnt leave until London open...
btw your train is going in the opposite direction lol
have fun
  • #231,969
  • Jun 16, 2010 7:30pm Jun 16, 2010 7:30pm
I took my profit when i saw reversal. I am completely out now, grabbed 25 pips from that move and little over 40 with the earlier trade. Good luck people, Time to chill and party. Will be back in 1 hour or so.
  • #231,970
  • Jun 16, 2010 7:35pm Jun 16, 2010 7:35pm
Quoting Forextrader4
I'm short right now at 1.47095 as my 5 mins chart confirmed it. Looking for another 30-40 pips. Good luck people.
u shorted at 4709 how could you make 25 pips. price never reached that far. and your broker doesnt have a spread ? you are amazing!!!
  • #231,971
  • Jun 16, 2010 7:42pm Jun 16, 2010 7:42pm
bearish wedgie and possible H&S setup...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-100616.05.gif Size: 27 KB
"The real genius is knowing when to stop." - Marc Faber
  • #231,972
  • Jun 16, 2010 7:45pm Jun 16, 2010 7:45pm
Quoting Honored
u shorted at 4709 how could you make 25 pips. price never reached that far. and your broker doesnt have a spread ? you are amazing!!!
Hahaha i guess i am amazing. I just calculated the amount of pips and lots opened. Ma baaaddd....
  • #231,973
  • Jun 16, 2010 7:55pm Jun 16, 2010 7:55pm
Quoting hhitch
bearish wedgie and possible H&S setup...
hope it'll retest 4550 before shooting up...
  • #231,974
  • Jun 16, 2010 7:58pm Jun 16, 2010 7:58pm
Quoting Honored
The train doesnt leave until London open...
btw your train is going in the opposite direction lol
have fun
Hopefully doesn't catch the "Last Train to London" from ELO...
  • #231,975
  • Jun 16, 2010 8:03pm Jun 16, 2010 8:03pm
Quoting maurofx
Nice to see that. Seems there's a lot of resistance on the upside. Few pips above daily Pivot i would draw a resistance line on the previous two lows yu labelled an arrow on... hoping to see more south movement today. I'll be bothering you in a couple of hours with a chart update mate!!! Tks for your time!!
yep. makes you wonder when people were buying earlier & saying price was "low" enough lol

anyway, I've locked some profit further as price is nearing support & I reckon price will just consolidate here for a bit till LO later. You'll see that I had highlighted the possible pausing area on the gbplfx, pretty much coincides with the ascending ltl on cable.

Time for my beauty sleep. Catch you at LO later.
Good luck!


p/s : naseri13, how's the 10 lot longs? did you take your med? told you that voice in your head will get louder!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gb.gif Size: 26 KB
Click to Enlarge Name: gu.gif Size: 31 KB
Thank You
  • #231,976
  • Jun 16, 2010 8:08pm Jun 16, 2010 8:08pm
Quoting hhitch
bearish wedgie and possible H&S setup...
We will meet 4740 - 50 today. then down again.

if he tuch 4750 I will sell 10 lot for 30 pips safe.
A little beginner trader since 2006
  • #231,977
  • Jun 16, 2010 8:16pm Jun 16, 2010 8:16pm
Quoting wormboy
p/s : naseri13, how's the 10 lot longs? did you take your med? told you that voice in your head will get louder!
.... Couldn't have said it better...
Ghost Rider - WWTBMD?
  • #231,978
  • Jun 16, 2010 8:21pm Jun 16, 2010 8:21pm
Quoting wormboy
yep. makes you wonder when people were buying earlier & saying price was "low" enough lol

anyway, I've locked some profit further as price is nearing support & I reckon price will just consolidate here for a bit till LO later. You'll see that I had highlighted the possible pausing area on the gbplfx, pretty much coincides with the ascending ltl on cable.

Time for my beauty sleep. Catch you at LO later.
Good luck!


p/s : naseri13, how's the 10 lot longs? did you take your med? told you that voice in your head will get louder!
Tks, man! Good luck to you too!! Have a nice rest!
  • #231,979
  • Jun 16, 2010 8:24pm Jun 16, 2010 8:24pm
Quoting Naseri13
We will meet 4740 - 50 today. then down again.

if he tuch 4750 I will sell 10 lot for 30 pips safe.
I'll be on that train too.
  • #231,980
  • Jun 16, 2010 8:40pm Jun 16, 2010 8:40pm
in taking a longer term overview of the markets, it appears we have a veritable "butterfly invasion" on our hands. I've posted about the GBPUSD butterfly gartley that has been forming, but there are also butterflies on AUDUSD and USDCAD, and a huge long-term weekly butterfly on USDCHF which bodes further USD upside if taken at face value. This supports further downside to the european pairs.

--disclaimer-- I am not calling market tops or bottoms or recommending any trade entries, what I am doing here is perhaps calling attention to some long term formations which are making themselves evident at the current time. These formations have a high probability of working out once fully formed. This is just as much for my benefit than anyone elses!

in regards to the current GBPUSD situation, my take is that there are several formations going on all at once here -- a bearish wedge, broken to the downside today, a bearish head and shoulders setting up, and a bearish gartley (butterfly). The bearish wedge is very immediate and very evident. The head and shoulders may complete later today or tomorrow if and when price goes back up to test the bottom side of the bearish wedge breakout around 1.48. This would also be quite natural in the continuing long term formation of the bearish gartley butterfly.

here are the charts
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf-100616.01.gif Size: 40 KB
"The real genius is knowing when to stop." - Marc Faber
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