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Cable Update (GBPUSD)

  • #235,661
  • Jul 5, 2010 3:31pm Jul 5, 2010 3:31pm
Quoting kingsteven
Thanks for your answer.
I already open 5 long position (total +57 pips)
Can you give me a suggestion?
a. close all & wait for retrace
b. just leave it & wait
I closed out but I plan on re entering long my target is between 1.54 1.55 but we could go as low as 1.4950 before going up, i am pretty sure we will see 1.50 though 61.8 fib probably by tonight!
  • #235,662
  • Jul 5, 2010 3:37pm Jul 5, 2010 3:37pm
Quoting kingsteven
Hi 'm newbie here, i want to post my analysis..
Regarding Head & Shoulder it will be bullish for now, am i right?
Thanks for answering this..
watch for the bigger head and shoulders that may be setting up.

Only time will tell if this plays out , once US market gets rolling tomorrow things will get back to normal.


Attached Image (click to enlarge)
Click to Enlarge Name: chart01 au.jpg Size: 136 KB
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  • #235,663
  • Jul 5, 2010 3:38pm Jul 5, 2010 3:38pm
Quoting mdiz2
Do you have 6 buy orders on this? I am no expert but will wait until it makes a more defined move. I see that it has held below the 200ema for awhile on the m15 chart.

examplem.gif

Quoting Allseeingeye
I closed out but I plan on re entering long my target is between 1.54 1.55 but we could go as low as 1.4950 before going up, i am pretty sure we will see 1.50 though 61.8 fib probably by tonight!
Quoting malcolmb14
watch for the bigger head and shoulders that may be setting up.

Only time will tell if this plays out , once US market gets rolling tomorrow things will get back to normal.


Attachment
Thanks mdiz2 , Allseeingeye, & Mal

I choose to close all trades & waiting new position.
Get a few pips better than losing.
  • #235,664
  • Jul 5, 2010 3:39pm Jul 5, 2010 3:39pm
you can tell those with experience and those without

those without stopped trading when london stopped. Those without saw the market move 10 pip due to Canadian markets being open and had to trade.
Blogging daily now at www.volume.zone
  • #235,665
  • Jul 5, 2010 3:44pm Jul 5, 2010 3:44pm
Quoting malcolmb14
you can tell those with experience and those without

those without stopped trading when london stopped. Those without saw the market move 10 pip due to Canadian markets being open and had to trade.
Yeah you right, i don't have much experience

But i'm learned now

Thanks Mal
  • #235,666
  • Jul 5, 2010 3:44pm Jul 5, 2010 3:44pm
Quoting malcolmb14
you can tell those with experience and those without

those without stopped trading when london stopped. Those without saw the market move 10 pip due to Canadian markets being open and had to trade.
Do you mean those with experience stopped at close of London?
  • #235,667
  • Jul 5, 2010 3:46pm Jul 5, 2010 3:46pm
Quoting malcolmb14
watch for the bigger head and shoulders that may be setting up.

Only time will tell if this plays out , once US market gets rolling tomorrow things will get back to normal.


Attachment
At last we got good analysis ,I was almost going to give up on the thread
Nice to see u mal
Want to see PA how react in zone 5140 : 5370 "Could b turning point zone" to Up or Down.
  • #235,668
  • Jul 5, 2010 3:59pm Jul 5, 2010 3:59pm
Quoting egkid
At last we got good analysis ,I was almost going to give up on the thread
Nice to see u mal
Want to see PA how react in zone 5140 : 5370 "Could b turning point zone" to Up or Down.

have my own vsa thread going now do not post much in here , way to many braggers and not enough good postings.

I spoke about a potential end of a rising market in my vsa thread on the gbp futures on friday, This is a low spread day on ultra high volume showing the sellers are coming in. The 1.5200 area is also about the 78.6 retrace of the last down move on the daily charts and we know how gu loves 78.6

i am expecting further weakness and a potential test of the bottom of the channel in the 1.5000 area then see what happens from there.
Blogging daily now at www.volume.zone
  • #235,669
  • Jul 5, 2010 4:00pm Jul 5, 2010 4:00pm
Quoting malcolmb14
watch for the bigger head and shoulders that may be setting up.

Only time will tell if this plays out , once US market gets rolling tomorrow things will get back to normal.


Attachment
I dont agree but we will see I think we will go down but after we get to 1.54-1.55 area, this is what you see I presume, I see 1.4950 - 1.50 before final move up to 1.54 - 1.55 area
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  • #235,670
  • Jul 5, 2010 4:01pm Jul 5, 2010 4:01pm
Quoting kingsteven
Hi 'm newbie here, i want to post my analysis..
Regarding Head & Shoulder it will be bullish for now, am i right?
Thanks for answering this..
I closed my longs taken from the weekly pivot at the 5 min 200. In this ascending channel we have been in everytime the channel line #2 has been taken out we have made it at least to the #4 channel line, the hourly 200 will be running in this area tomorrow and I have some weekly pivot levels in tht area as well , That is a further downside tgt for me for shorts I am still holding , stps are in the money so wht ever happens , happens . Will c where the rollover price is and how it trades for a bit after that but as of now still thinking short till we get to the bottom of channell or price action says other wise cheers all
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  • #235,671
  • Jul 5, 2010 4:07pm Jul 5, 2010 4:07pm
http://i.imagehost.org/0094/gbp.gif
  • #235,672
  • Jul 5, 2010 4:08pm Jul 5, 2010 4:08pm
Quoting malcolmb14
have my own vsa thread going now do not post much in here , way to many braggers and not enough good postings.

I spoke about a potential end of a rising market in my vsa thread on the gbp futures on friday, This is a low spread day on ultra high volume showing the sellers are coming in. The 1.5200 area is also about the 78.6 retrace of the last down move on the daily charts and we know how gu loves 78.6

i am expecting further weakness and a potential test of the bottom of the channel in the 1.5000 area then see what happens from there.
That good news Mal
Can i post my view there sometime or it's only about VSA?
could be 1.50xx could go up 1.53 " Personally I prefer to wait
  • #235,673
  • Jul 5, 2010 4:39pm Jul 5, 2010 4:39pm
Quoting Allseeingeye
I dont agree but we will see I think we will go down but after we get to 1.54-1.55 area, this is what you see I presume, I see 1.4950 - 1.50 before final move up to 1.54 - 1.55 area
well ..
as you see from daily here wave 5 completed down then retrace of abc correction to 78.6 of wave 5 of last move ... bear div on vol on abc correction

sellers hit market just off 78.6 and resulted in todays downward action. This is called a buying climax in vsa and makes me look for further weakness.

If that 1st green line broken then this is top rolling over ... bottom of channel broken then i make 1000 pip as price moves into the low of 1.4200

I do not think we will see your 15400 to 15500 area , but if we do then we may see even higher then that as this will be a 5 wave up move on daily and not an abc correction

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  • #235,674
  • Jul 5, 2010 4:50pm Jul 5, 2010 4:50pm
Quoting malcolmb14
well ..
as you see from daily here wave 5 completed down then retrace of abc correction to 78.6 of wave 5 of last move ... bear div on vol on abc correction

sellers hit market just off 78.6 and resulted in todays downward action. This is called a buying climax in vsa and makes me look for further weakness.

If that 1st green line broken then this is top rolling over ... bottom of channel broken then i make 1000 pip as price moves into the low of 1.4200

I do not think we will see your 15400 to 15500 area , but if we do then we may see even...
I have wave c of B going anywhere from 1.53-1.55 then I have wave b of C going down to 1.45 1.44 then wave c of b going up to 1.55 - 1.60 Only time will tell where we are going but don't forget a anything can happen with the Gulf Oil Spill especially now that the Methane equation is in & if a hurricane hits in August & the DOLLAR PLUNGES I would hate to be short GBP/USD!
  • #235,675
  • Jul 5, 2010 4:53pm Jul 5, 2010 4:53pm
Once projected to become the first billionaire in sports, Tiger Woods
can find solace in remaining at the "top of his game" and still 'number
one' for years to come... (until the next bonehead comes along):

He has captured yet another title as the top position among athletes...
in divorce settlement demands while ranking him in the top 10 overall
in divorce settlements ** exceeding the GDP of more than 10% of the
world's 200+ countries. ***

** http://en.wikipedia.org/wiki/List_of...nsive_divorces
*** http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal)


Dr. D.
  • #235,676
  • Jul 5, 2010 4:58pm Jul 5, 2010 4:58pm
Quoting fourxtrader
Once projected to become the first billionaire in sports, Tiger Woods
can find solace in remaining at the "top of his game" and still 'number
one' for years to come... (until the next bonehead comes along):

He has captured yet another title as the top position among athletes...
in divorce settlement demands while ranking him in the [i][color=blue]top...
Thats how BRAIN DEAD our society has become that we pay some IDIOT that kind of money to play a sissy game, & if you pay $1000 to go watch these morons & cough you get the privelage of being yelled at & thrown out!
  • #235,677
  • Jul 5, 2010 5:17pm Jul 5, 2010 5:17pm
Official States Obama Not Born Here
  • #235,678
  • Jul 5, 2010 5:18pm Jul 5, 2010 5:18pm
pah i spit on the 1st billaionaire sportsman. I mean i make 1 bill a day trading forex .. don't we all here on ff ? it seems that way

Quoting fourxtrader
Once projected to become the first billionaire in sports, Tiger Woods
can find solace in remaining at the "top of his game" and still 'number
one' for years to come... (until the next bonehead comes along):

He has captured yet another title as the top position among athletes...
in divorce settlement demands while ranking him in the [i][color=blue]top...
Blogging daily now at www.volume.zone
  • #235,679
  • Jul 5, 2010 5:21pm Jul 5, 2010 5:21pm
Quoting malcolmb14
pah i spit on the 1st billaionaire sportsman. I mean i make 1 bill a day trading forex .. don't we all here on ff ? it seems that way
1 BILL my friend can only be upto $1000 I have yet to see a $1,000,000,000.00 dollar bill!
  • #235,680
  • Jul 5, 2010 5:28pm Jul 5, 2010 5:28pm
Quoting Allseeingeye
Official States Obama Not Born Here
lol, well wherever he was was born his lack of leadership capabilities has come to light , seems running around speaking from a teleprompter really dont prepare you for much of anything other than being the least qualified person in any room he walks into , sadly lots of people fell for his used car salesman smooth pitch from the teleprompter .
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