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  • #321
  • Jul 1, 2010 2:08am Jul 1, 2010 2:08am
Cable not well placed going into the trades this morning. Expecting it to do some retracement into 50s but before that I would like to see it take support at 4860s. 4860s is the first major low on the larger TFs GBPUSD will encounter.

Short biased for now, dont think it would take out 5130s anytime soon.
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  • #322
  • Jul 1, 2010 2:30am Jul 1, 2010 2:30am
Sell GU--- hope to see 200 pips move today -- (high to low) Also news on UK PMI
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #323
  • Jul 1, 2010 3:55am Jul 1, 2010 3:55am
good morning all,

whats todays outlook i your opinion people?

did we get the days low and now ranging?
  • #324
  • Jul 1, 2010 5:11am Jul 1, 2010 5:11am
Quoting adrianebn
good morning all,

whats todays outlook i your opinion people?

did we get the days low and now ranging?
GBP showing solid bullish divergence on the 1h.
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  • #325
  • Jul 1, 2010 5:44am Jul 1, 2010 5:44am
i agree, will see if its strong enough to take the upside again,

yesterday the uptrend channel was broken

Quoting stevefx
GBP showing solid bullish divergence on the 1h.
  • #326
  • Jul 1, 2010 6:01am Jul 1, 2010 6:01am
Quoting adrianebn
i agree, will see if its strong enough to take the upside again,

yesterday the uptrend channel was broken
Yeah, there's no use in making a divergence trade when the new trend is like 12 hours old. Either way there's not likely to be much in it.
  • #327
  • Jul 1, 2010 6:14am Jul 1, 2010 6:14am
Quoting callim22
Okie, time to continue my 1 cents worth of view. The sell trade of GU at 1.5100 that I did on yesterday night had managed to move to 1.4940 a while ago. A good profit of 160 pips since yesterday till now. I'm out already since the profit is good. Anyway, I'm still of the view that GU will continue its bearish move but should be getting limited. Rationale being that H4 TF have not reach the bottom of a 4hr uptrend channel (still have room for downward move before coming up), H1 and M15 MACD has become much more bearish as compared to this afternoon....
Hi Bros here, I hope some of you had reap a good profit from the downward retracement from 2 days ago tll noon just now. Although I was out of the trade, I was still monitoring it. GU really drop to 1.4872 and bounced off to continue its H4 upward momentum. I'm so happy that GU really hit 1.4870 region as it means that my analysis for a short trade TP point was right.

When it hit 1.4872, the best prove for an upward movement from there was the bullish divergence that occured on M15 TF. I personally missed this long trade as I was working. Really felt such a waste. A long trade around 1.4880 region would reap around 80 pips till now.

Anyway, I'm of bullish view on GU now and preferred to go long on GU when a good dip occurs. Nonetheless, I'm going to wait for the high impact news that will be happening later (i.e. unemployment claims and others.) before I come to a final conclusion.

Wish all luck again and again
  • #328
  • Jul 1, 2010 6:43am Jul 1, 2010 6:43am
Quoting callim22
Hi Bros here, I hope some of you had reap a good profit from the downward retracement from 2 days ago tll noon just now. Although I was out of the trade, I was still monitoring it. GU really drop to 1.4872 and bounced off to continue its H4 upward momentum. I'm so happy that GU really hit 1.4870 region as it means that my analysis for a short trade TP point was right.

When it hit 1.4872, the best prove for an upward movement from there was the bullish divergence that occured on M15 TF. I personally missed this long trade as I was working. Really...
Yes great idea callim, see if she gets above DP with right news, and get in on buying action from there.
  • #329
  • Jul 1, 2010 7:13am Jul 1, 2010 7:13am
The bounce is coming thro'. I wil be looking to go short in the congestion area for lower targets forming larger retracements of the whole move up. The reason I think it has topped out is, the price thrusts at each levels are lower and lower signifying the loss of momentum. I would bet on a larger retracement that we have seen now.
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  • #330
  • Jul 1, 2010 7:15am Jul 1, 2010 7:15am
I was playing around with something really simple and stupid

and i found that i really do not need any other indicator apart from this simple tool

try it, with just candles and nothing else
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  • #331
  • Jul 1, 2010 7:21am Jul 1, 2010 7:21am
Quoting forexlion
I was playing around with something really simple and stupid

and i found that i really do not need any other indicator apart from this simple tool

try it, with just candles and nothing else

http://img822.imageshack.us/img822/3130/76695169.gif
  • #332
  • Jul 1, 2010 7:26am Jul 1, 2010 7:26am
Quoting stevefx
Yes great idea callim, see if she gets above DP with right news, and get in on buying action from there.
Hahaha.. Thanks for the support. Anyway, I feeling very painful now. From 1.4880 of anticipated entry price for long, it has reached 1.5000 now. A good 120 pips of profit missed. I'm banging my head against the wall...
If I was not working, I'll be in on GU for a good ride up. Even if the long term uptrend does not hold, I'm already out by then.
  • #333
  • Jul 1, 2010 7:28am Jul 1, 2010 7:28am
something tells me the current usd news should cause a selling pressure
  • #334
  • Jul 1, 2010 7:35am Jul 1, 2010 7:35am
Quoting forexlion
something tells me the current usd news should cause a selling pressure
Yep. Don't get it. Same reaction on EU. Maybe something like NFP used to play out, spike in one dir, then run the other. Gonna give it some rope to see what happens.
  • #335
  • Jul 1, 2010 7:39am Jul 1, 2010 7:39am
Quoting falkor
The bounce is coming thro'. I wil be looking to go short in the congestion area for lower targets forming larger retracements of the whole move up. The reason I think it has topped out is, the price thrusts at each levels are lower and lower signifying the loss of momentum. I would bet on a larger retracement that we have seen now.
Hi bro, you are right in your way too. Prices does moves up and down. Thus, there is no right or wrong in buying on a dip when upward momentum resumes (trend continuation) or selling it down when upward momentum dies off (reversal). To me, it is a matter of whether we are able to get in at the right time when the move starts in either way.

Anyway, I should be having 140 pips of profit now. Missed 1.4880 and 1.5025 now. Bang bang bang.. Head so pain
  • #336
  • Jul 1, 2010 7:50am Jul 1, 2010 7:50am
Quoting stevefx
Yep. Don't get it. Same reaction on EU. Maybe something like NFP used to play out, spike in one dir, then run the other. Gonna give it some rope to see what happens.
Haha.. This is where I'll totally take my hands off GU as of now. TA is in conflict with FA. Not worth betting my dollars on it now. Anyway, the MACD on shorter TF like M1, M5 and M15 are showing very strong uptrend momentum. No bearish diveregence yet. Trend following friends can chase after the upward move if u interested. Downside risk and upside returns seems to be equal at this point in time. I'll let it cool down first before I act.

Good good luck
  • #337
  • Jul 1, 2010 7:53am Jul 1, 2010 7:53am
placed a sell limit @ 5050 n took it, will close either 5000 or 4950

http://img411.imageshack.us/img411/4254/38824378.gif
  • #338
  • Jul 1, 2010 8:02am Jul 1, 2010 8:02am
Quoting forexlion
I was playing around with something really simple and stupid

and i found that i really do not need any other indicator apart from this simple tool

try it, with just candles and nothing else

Great job---- Mr forexlion -- I have this indi on my chart for a long long time--
Ok -- What I said hope to see 200 pips today high to low
anyways I bag 3 lots from 14950 --15050 Plus this morning 1 lot 14903-- 14875

Guys stick to your rules -- you will be better traders - you will not win all
(not could (a) should (a) just do it)
Remember -- This "Great traders are not lucky they are well prepared"
Attached Image (click to enlarge)
Click to Enlarge Name: june18gu.gif Size: 19 KB
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #339
  • Jul 1, 2010 8:05am Jul 1, 2010 8:05am
beginning to slide

http://img594.imageshack.us/img594/4461/50784206.gif
  • #340
  • Jul 1, 2010 8:28am Jul 1, 2010 8:28am
hit sl -15

oh well, i will live to trade another day
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