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Cable Update (GBPUSD)

  • #237,441
  • Jul 13, 2010 2:09am Jul 13, 2010 2:09am
Quoting stevefx
This is kind of what I'm seeing here.

I was thinking a bounce off that trendline on the 4H as well..... maybe it is already playing out.
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,442
  • Edited 2:24am Jul 13, 2010 2:10am | Edited 2:24am
The supply/demand thing doesn't quite work so simply for Forex as it does actual companies selling products. Each trade involves supply of one currency for demand of another. And there are usually several pairs involved when you are talking USD or EURO so there are multiple supply/demand interactions. And, the supply is not fixed because Countries can instantly add more liqudity at any time. So traditional supply/demand does not really fit so well with how forex works. It can be applied a little better to the USD Index which in turn can be helpful with individual pairs somewhat.

It does sort of capture the basic psychology involved and that is useful.
  • #237,443
  • Jul 13, 2010 2:11am Jul 13, 2010 2:11am
Quoting sepuluh
Are GU Down just until Here ?????

close sell...or not ?....close sell...or not ?....



Attachment
definitely some strong buyers down there though. not saying for sure, but it may could get to 1.51 from here, but I have been wrong once today already...
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,444
  • Jul 13, 2010 2:14am Jul 13, 2010 2:14am
she traded near 1.5052 only at 1.5047 O/N and didn't have enough power behind her to break that level then retraced thru 1.4980...
1.4970 support looking to be a hook line...
two-way trading market...good only for quick scalps of the range right now
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Hear the music before the song is over ...
  • #237,445
  • Jul 13, 2010 2:16am Jul 13, 2010 2:16am
Quoting priceaction
mdiz2,

Last but one post in the main thread when my PDF was posted: HERE

There is a lot of good material in that thread. If you're interested, start there at Post 1.

Rob
Thank you
  • #237,446
  • Jul 13, 2010 2:17am Jul 13, 2010 2:17am
Quoting damonl
I thought we would get a bounce there, but I am still looking for confirmation of my lows with indies at this point I guess. Would have been a fantastic entry though! Wish I could just start trusting my s&r points....
yup, it's almost identical to yesterday mate.
thought you would've spotted the tri divergence on the m1 and jumped on it tbh.
But anyway, if you're looking for a confirmation on the H1, I'd say that a bullish close on current close would be good enough since it's having problem going past the W1 & daily primary support. Just like yesterday
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Thank You
  • #237,447
  • Jul 13, 2010 2:18am Jul 13, 2010 2:18am
Quoting priceaction
mdiz2,

Last but one post in the main thread when my PDF was posted: HERE

There is a lot of good material in that thread. If you're interested, start there at Post 1.

Rob
Does that just make you the marketing / sales man ??

Hence why your not giving an opinion on anything current ??
  • #237,448
  • Jul 13, 2010 2:23am Jul 13, 2010 2:23am
Quoting Dayboy001
Does that just make you the marketing / sales man ??

Hence why your not giving an opinion on anything current ??
better trade your own bro. that's better .... plan your trade and trade your plan.... others is noisy
  • #237,449
  • Jul 13, 2010 2:26am Jul 13, 2010 2:26am
Down is where I want to be and a 15 pip drop in a minute gives me that warm feeling inside,

Lets hope it continues

short @ 1.5005
TP @ 1.4950
SL @ 1.5050
  • #237,450
  • Jul 13, 2010 2:29am Jul 13, 2010 2:29am
Quoting wormboy
yup, it's almost identical to yesterday mate.
thought you would've spotted the tri divergence on the m1 and jumped on it tbh.
But anyway, if you're looking for a confirmation on the H1, I'd say that a bullish close on current close would be good enough since it's having problem going past the W1 & daily primary support. Just like yesterday
You know.. I was just thinking how almost identical this was to yesterday...

If it plays out identical, we will see one lower low yet before the move up.
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,451
  • Jul 13, 2010 2:32am Jul 13, 2010 2:32am
Quoting priceaction
DayBoy,

My income comes 100% from my trading.

I believe it is good advice and it has helped me become more profitable in my trading. No one charges for it, even if it does appear on a commercial site. So what!

Perhaps you are already satisfied with your consistency and don't wish to explore educational material unless it appears on a non-commercial site. But then again you are on FF ...which is a commercial site

Rob
Now Now, calm down.
  • #237,452
  • Jul 13, 2010 2:32am Jul 13, 2010 2:32am
Quoting damonl
definitely some strong buyers down there though. not saying for sure, but it may could get to 1.51 from here, but I have been wrong once today already...
mmhh...maybe your prediction is not wrong....
but....maybe you have take a false node for Open Price ....
it's just maybe.....maybe ...maybe...

peace..peace...
  • #237,453
  • Jul 13, 2010 2:36am Jul 13, 2010 2:36am
:nerd:1.5020 again !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #237,454
  • Jul 13, 2010 2:39am Jul 13, 2010 2:39am
Quoting manize
:nerd:1.5020 again !
You said that before and it droped like a rock. Are you saying time to go back down? lol
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,455
  • Jul 13, 2010 2:40am Jul 13, 2010 2:40am
Quoting priceaction
DayBoy,

My income comes 100% from my trading.

I believe it is good advice and it has helped me become more profitable in my trading. No one charges for it, even if it does appear on a commercial site. So what!

Perhaps you are already satisfied with your consistency and don't wish to explore educational material unless it appears on a non-commercial site. But then again you are on FF ...which is a commercial site

Rob
nice chart u posted rob..
morning folks
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  • #237,456
  • Jul 13, 2010 2:42am Jul 13, 2010 2:42am
Quoting nAVIN2007
nice chart u posted rob..
morning folks
Morning nAV.. looking at your chart is your target 1.52?
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,457
  • Jul 13, 2010 2:44am Jul 13, 2010 2:44am
Genuine answers only those who know about it.

What we witnessed here...

Was it the Frankie Fake out ... and London break out?

you know that... Pump and Dump... but this was... Dump and Pump?

A good answer here would make us all learn here...


Cloggie...WB...Kill...BB...Magix...and all great traders..come on.
  • #237,458
  • Jul 13, 2010 2:47am Jul 13, 2010 2:47am
1min led the way off the current low with the bullish divergence in oscillators...5min alsfollowed with a PB/Engulfing candle combo trigger with 15min an IPB/PB combo trigger

G/L
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ex member
  • #237,459
  • Jul 13, 2010 2:47am Jul 13, 2010 2:47am
Quoting damonl
Morning nAV.. looking at your chart is your target 1.52?
1.52 area is the top of the trendline but i dont expect that to go there today
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  • #237,460
  • Jul 13, 2010 2:50am Jul 13, 2010 2:50am
trying to detect relationships.
Bull/Bear fighting atm.
What I see is that moves down in GU are related with down moves in EUR/USD.
So that's strength in USD.
When moves in EUR/USD stop GU is recovering fast.
So that's strength in GBP.

So what does this tell us strength in both GBP and USD makes GU indecisive.
EUR/USD reaching an important level of 1.27 and then declining is not a major development so USD recovering a bit is not that important.
That leaves us with GPB being strong in times where at least I would expect weakness (reaching resistance lines on daily).
So maybe bias should be positive for GU (at least for G).

Just some thoughts, prob. not telling much.........
Don't be a hero. Don't have an ego. Always question yourself
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