Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#237,121
Jul 12, 2010 5:20am Jul 12, 2010 5:20am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Quoting budak baru

Disliked

and this is for my medium term view.buy from 1.4474 targetting to test 1.5523...
your comment is appreciated....

Ignored

Interesting you are trying to call and H&S possibly weeks before it could happen. Not saying you are wrong, but could this just as easily be a little bull rally and next we are heading to lower lows?

"Keep your eyes on the helpers" - Mr. Rogers

#237,122
Jul 12, 2010 5:27am Jul 12, 2010 5:27am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Well.. for all the longs, here is the moment where we could just dive back into the deep end.. price action is hitting the 55SMA.. might want to consider securing your profits. I think there is a bigger move up yet, but we have to get through this first, and I would think we would see some sort of a pullback lower from here. Sometimes it can bounce off of this SMA real fast!

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"Keep your eyes on the helpers" - Mr. Rogers

#237,123
Jul 12, 2010 5:30am Jul 12, 2010 5:30am

budak baru
Joined Aug 2007 | Status: Newbie | 1,332 Posts

Quoting damonl

Disliked

Interesting you are trying to call and H&S possibly weeks before it could happen. Not saying you are wrong, but could this just as easily be a little bull rally and next we are heading to lower lows?

Ignored

im sorry for misunderstanding.1.5523 is the key to confirm bullish.if we spike above 1.5523 my h&s will valid.after that i will looking for 1.69 to be test...to do that i will buying at 1.4799...

Gold Expedition Return This Year: -15.9%

#237,124
Jul 12, 2010 5:35am Jul 12, 2010 5:35am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Quoting budak baru

Disliked

im sorry for misunderstanding.1.5523 is the key to confirm bullish.if we spike above 1.5523 my h&s will valid.after that i will looking for 1.69 to be test...to do that i will buying at 1.4799...

Ignored

gotcha... and not to worry... I really enjoy all the analysis.. thanks for your thoughts.

"Keep your eyes on the helpers" - Mr. Rogers

#237,125
Jul 12, 2010 5:51am Jul 12, 2010 5:51am

Allseeingeye
| Joined Sep 2009 | Status: Trader | 672 Posts

Quoting budak baru

Disliked

and this is for my medium term view.buy from 1.4474 targetting to test 1.5523...
your comment is appreciated....

Ignored

When someone comments & tries to help you with your trading you get OFFENDED so why you asking people to comment! I think you are wrong but I will not rule out your setup. Right know I am long & adding till 1.5050-1.51 after that I see us dropping to 1.47-1.45 then I see us going up to 1.60 area, but I still dont see your BEARISH OR BULLISH H&S. There is also a strong possibility that we are going to 1.55 strait from here & that is another view so when we do get to 1.51 becarefull on shorts unless they are confirmed on your bigger time frames! Look at bull flag stoped DEAD on 78.6 fib VERY BULLISH SIGN

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#237,126
Jul 12, 2010 5:59am Jul 12, 2010 5:59am

Bull_Bear
Joined Mar 2009 | Status: FX | 3,789 Posts

I'm already a buyer....

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Veni, Vidi, Vici (We came, we saw, we conquered)

#237,127
Jul 12, 2010 6:00am Jul 12, 2010 6:00am

forexliar
| Additional Username | Joined May 2010 | 77 Posts

Quoting Allseeingeye

Disliked

When someone comments & tries to help you with your trading you get OFFENDED so why you asking people to comment! I think you are wrong but I will not rule out your setup. Right know I am long & adding till 1.5050-1.51 after that I see us dropping to 1.47-1.45 then I see us going up to 1.60 area, but I still dont see your BEARISH OR BULLISH H&S. There is also a strong possibility that we are going to 1.55 strait from here & that is another view so when we do get to 1.51 becarefull on shorts unless they are confirmed on your bigger time frames!

Ignored

Will we see your shoulder around 5050-5085 sir ?

( my imo. it's forming inverted H/S in H1. time will tell off course )

#237,128
Edited 6:16am Jul 12, 2010 6:01am | Edited 6:16am

vilas
| Joined Aug 2007 | Status: Trader | 632 Posts

Quoting dag777

Disliked

Thank you for your comment,
my intention by posting this news was to show that banks do see fundamental reasons in near future which could stop pound rising.
If there comes talk of possible further QE, or other mentionend
reasons in this article, we could see sky falling down.

But as daytrader i´m only trading short term,
never would take a longterm position based on such article.

Ignored

This exactly the way to go - Banks are non-speculative Institutions - they have to take the macro view and they have the resources - access to information - to make an intelligent estimate. But this is not for ST-traders. We have to rely on ST-methods which is TA. Banks use it too but to service their cients and this is the reason most bank-talk is two-pronged ! Haven't met an Investor who made money on Bank-advice !

As for myself, I think the way is down - how far ? Till it turns ! My experise is limited to this ! I know it will meet either a SR level or a Fib level or come face to face with a TL. Taking into a/c the fdifferent TFs, this makes quite a handful ! So, let us enjoy the ride and Tide !

Happy Pips !

#237,129
Jul 12, 2010 6:01am Jul 12, 2010 6:01am

forexliar
| Additional Username | Joined May 2010 | 77 Posts

Quoting Bull_Bear

Disliked

I'm already a buyer....

Ignored

For bull rocket bro ?

#237,130
Jul 12, 2010 6:03am Jul 12, 2010 6:03am

budak baru
Joined Aug 2007 | Status: Newbie | 1,332 Posts

Quoting Allseeingeye

Disliked

When someone comments & tries to help you with your trading you get OFFENDED so why you asking people to comment! I think you are wrong but I will not rule out your setup. Right know I am long & adding till 1.5050-1.51 after that I see us dropping to 1.47-1.45 then I see us going up to 1.60 area, but I still dont see your BEARISH OR BULLISH H&S. There is also a strong possibility that we are going to 1.55 strait from here & that is another view so when we do get to 1.51 becarefull on shorts unless they are confirmed on your bigger time frames! Look...

Ignored

thanks to u.i will join u to buy at 1.49

Gold Expedition Return This Year: -15.9%

#237,131
Jul 12, 2010 6:07am Jul 12, 2010 6:07am

Allseeingeye
| Joined Sep 2009 | Status: Trader | 672 Posts

Quoting budak baru

Disliked

thanks to u

Ignored

Here is play by play just hedged 70% will wait for retrace to 1.4960 area then will close hedge & add more longs!

#237,132
Jul 12, 2010 6:09am Jul 12, 2010 6:09am

budak baru
Joined Aug 2007 | Status: Newbie | 1,332 Posts

Quoting Allseeingeye

Disliked

Here is play by play just hedged 70% will wait for retrace to 1.4960 area then will close hedge & add more longs!

Ignored

buy at 1.49 and reverse sell to 1.5130 take profit 1.4474.no offense sorry for my word...

Gold Expedition Return This Year: -15.9%

#237,133
Jul 12, 2010 6:10am Jul 12, 2010 6:10am

winsome
| Joined May 2007 | Status: Trader | 279 Posts

not much to come out of usa today, only bern speaking.

3:00pm USD(gmt)
Fed Chairman Bernanke Speaks

Due to deliver a speech titled "Restoring the Flow of Credit to Small Business" at the Financing Needs of Small Business Forum, in Washington DC;

#237,134
Jul 12, 2010 6:13am Jul 12, 2010 6:13am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Pullback off current 4949 area intraday lows came at the 76.4% fib of the 4854-5240 move...5min-30min bullish divergence led the way...15min shown below,,...

Pullback or more?

G/L

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ex member

#237,135
Jul 12, 2010 6:20am Jul 12, 2010 6:20am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Quoting bbmac

Disliked

Pullback off current 4949 area intraday lows came at the 76.4% fib of the 4854-5240 move...5min-30min bullish divergence led the way...15min shown below,,...

Pullback or more?

G/L

Ignored

I am asking myself that same question... pullback or larger move? I am seeing a possible M pattern on M1, which means this could come lower if that is indeed what it is.

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