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Cable Update (GBPUSD)

  • #233,561
  • Jun 24, 2010 5:22am Jun 24, 2010 5:22am
Yesterday's Post

http://www.forexfactory.com/showpost...stcount=233252

Todays update...

For those screaming short in yesterday's session and claiming 1.5000 never.... so funny
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 105 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #233,562
  • Jun 24, 2010 5:24am Jun 24, 2010 5:24am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
As expected, 150 is on the table...
I do remember quote from Buffet which means something like, when markets react different to the reality he goes nervous. Cable is acting different to markets at the moment bullish when other currncies are moving with the market. This doesn't mean that we should trade opposite :-) But beware and ride the direction of the trend.

As said earlier, there is a reason for this bullishness and once it's over whosoever is holding cable will leave it for the bears to ride.

Anyhooo, chart says it all. I'll wait for the retrace to go long.

ta
ams


Quoting ams
IMO, we will see 150ishh by tomorrow cloggie unless markets tank badly tonight or someone nuke's the city

DOW closed 130 points down yesterday cable rose 140+ today regardless. Dow is still down and might be more down once we have FOMC minutes over but cable won't go down. Infact look at Kiwi went UP/Down/UP again for GDP news tonight. There is always a reason behind these dodgy moves.

Don't be fooled by this PA. It's very very bullish for a reason and nothing can drop cable other than factors above.


ta
ams
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.gif Size: 13 KB
  • #233,563
  • Jun 24, 2010 5:24am Jun 24, 2010 5:24am
3 x fib cluster overhead as current i/day hi is in a prev 4hr/daily swing hi = prev resistance=potential resistance zone

5013 = 61.8% 5496-4229
5019 = 50% 5815-4229
5030 = 61.8% 5522-4229

G/L
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ex member
  • #233,564
  • Jun 24, 2010 5:25am Jun 24, 2010 5:25am
Quoting primzvicious
which mean? is it? 5135 - 5161
No idea, I have an open target if we reach those levels though I'm temped to say we reached a break of the bear-trend and entered a bull-trend.
As long as 1.494 does not break south I honor my (stupid) name again and remain a GU bull, otherwise I have to reconsider.....

On a micro-level 1.505 could be a target:
M15:
Attached Image (click to enlarge)
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On a macro level, I see strength above 1.50 as most important indicator:
D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0050.png Size: 24 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #233,565
  • Jun 24, 2010 5:32am Jun 24, 2010 5:32am
I can't believe it's already daylight here and i'm still awake...
  • #233,566
  • Jun 24, 2010 5:34am Jun 24, 2010 5:34am
Quoting Bull_Bear
Yesterday's Post

http://www.forexfactory.com/showpost...stcount=233252

Todays update...

For those screaming short in yesterday's session and claiming 1.5000 never.... so funny
Quoting primzvicious
this is my view
re-test or strike through
Verily, in every difficulties there is relief
  • #233,567
  • Jun 24, 2010 5:44am Jun 24, 2010 5:44am
tanK ?
Attached Image (click to enlarge)
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Verily, in every difficulties there is relief
  • #233,568
  • Jun 24, 2010 5:46am Jun 24, 2010 5:46am
Quoting Forextrader4
My EUR/JPY trade i was talking about. My gbp/jpy trade is still open
Well there goes my gbp/jpy trade and i am officially OUT of the market. Wohooo finally some sleep. Overall had a good day and reached my quota "as usual"
Attached Image (click to enlarge)
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  • #233,569
  • Jun 24, 2010 5:50am Jun 24, 2010 5:50am
...a LH and a L below last HL now on 5min...bearish divergence to the 1hr t/f-shown below...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr rev b.gif Size: 22 KB
Click to Enlarge Name: Z.gif Size: 16 KB
ex member
  • #233,570
  • Jun 24, 2010 5:51am Jun 24, 2010 5:51am
Quoting Forextrader4
Well the gbp/usd pair is still not clear to me as this point and that's why i didn't trade it and took a trade on gbp/jpy. By the way i just took another short on gbp/jpy and will be trailing it. I don't recommend trading gbp/usd right now but ofcourse it is your choice
Now if you look at your chart since i posted this, look at the move on the gbp/jpy and compare it to gbp/usd. Enough said....
  • #233,571
  • Jun 24, 2010 5:53am Jun 24, 2010 5:53am
Quoting primzvicious
tanK ?
Don't be fooled by it.

At least let hit the 38.2% firts...
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #233,572
  • Jun 24, 2010 5:54am Jun 24, 2010 5:54am
Quoting Bull_Bear
Don't be fooled by it.

At least let hit the 38.2% firts...
sure... i had sl @BE mate
Verily, in every difficulties there is relief
  • #233,573
  • Jun 24, 2010 5:56am Jun 24, 2010 5:56am
Quoting bbmac
...a LH and a L below last HL now on 5min...bearish divergence to the 1hr t/f-shown below...
Also note the L on the chart you posted is a support line for the short term up trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 25 KB
Probability Professor
  • #233,574
  • Jun 24, 2010 6:00am Jun 24, 2010 6:00am
Quoting Galation
Also note the L on the chart you posted is a support line for the short term up trend line.
Gal, 5 min chart triangle love your work buddy.

Long time no post mate, whats doing with you?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #233,575
  • Jun 24, 2010 6:02am Jun 24, 2010 6:02am
Price in asymmetrical triangle, which is usually a continuation pattern of trend in that time frame.

But as others have said, fibonnaci could be played here; lots of different factors - We'll see how it plays. I think a test of 1.5050 will be likely sometime in the near term for those long term traders out there.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 24 KB
Probability Professor
  • #233,576
  • Jun 24, 2010 6:04am Jun 24, 2010 6:04am
Quoting Bull_Bear
Gal, 5 min chart triangle love your work buddy.

Long time no post mate, whats doing with you?
I've been in China and the USA for a while and I've just not been posting really. I've just been keeping to myself really (in trading things).

The trading is going well with me, how are things with you matey?
Probability Professor
  • #233,577
  • Jun 24, 2010 6:04am Jun 24, 2010 6:04am
Quoting trade price
buddy no stop loss?
(you did used one)
if it works for you great.
Hahaha yea no stop loss, we newbies don't think stop loss is important, so we never think about how much we have to risk on each particular trade to maximize our profit...LOL
  • #233,578
  • Jun 24, 2010 6:07am Jun 24, 2010 6:07am
Quoting Galation
I've been in China and the USA for a while and I've just not been posting really. I've just been keeping to myself really (in trading things).

The trading is going well with me, how are things with you matey?
You know me mate, I make just enough for BEER MONEY TM
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #233,579
  • Jun 24, 2010 6:07am Jun 24, 2010 6:07am
Quoting Forextrader4
Hahaha yea no stop loss, we newbies don't think stop loss is important, so we never think about how much we have to risk on each particular trade to maximize our profit...LOL
Risk management is key and pinnacle to trading success. Get some books on risk and indulge; you'll be a better person because of it.

Understanding risk is so so important; I can't stress it enough.
Probability Professor
  • #233,580
  • Jun 24, 2010 6:08am Jun 24, 2010 6:08am
Quoting Bull_Bear
You know me mate, I make just enough for BEER MONEY TM
Knowing you, someday you'll be buying the breweries; trust me mate!
Probability Professor
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