Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#239,041
Edited 7:10pm Jul 18, 2010 6:49pm | Edited 7:10pm

ba1ker
Joined Feb 2010 | Status: Inactive | 6,482 Posts

Quoting Allseeingeye

Disliked

You should look at U/J it looks like its ready to EXPLODE UP BIGTIME, can you do your thing on it because we are at a 9 month low I believe & quasie 3 triple bottom & or Inverted Head & Shoulders!

Ignored

Never looked at this pair but looking on the higher tfs, this one looks like a beauty for the swing trader. I'm keeping my eye on this one

Cheers for the heads up!

EDIT: 86.47 seems to be a nice line!
EDIT 2: Japanese bank holiday on Monday...

#239,042
Jul 18, 2010 7:24pm Jul 18, 2010 7:24pm

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

Short from 1.5293 on Bearish Hammer bar of Monthly Trendline. Asian session, so not going to get greedy here.

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

#239,043
Jul 18, 2010 7:27pm Jul 18, 2010 7:27pm

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

Quoting Honored

Disliked

So you are expecting the current down move to go all the way down to 1.4948 this week ?

1.5529 as a top would make more sense to me as a double top. the current top at 1.5470 is only a spike, so imho we still have one more up move left.

5 waves up from the May low are completed so expectations are for a 3 wave correction down to 14950 (4th wave low). 15250-15300 could provide short term support for a bounce in the near term. In the event of a new high, 15530 is resistance.

Ignored

yes i aware for that but as for now im looking for support at 1.49 before continue to 1.57.thanks

Gold Expedition Return This Year: -16.4%

#239,044
Jul 18, 2010 7:30pm Jul 18, 2010 7:30pm

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

Quoting damonl

Disliked

Short from 1.5293 on Bearish Hammer bar of Monthly Trendline. Asian session, so not going to get greedy here.

Attachment

Ignored

Trade is now heading into Weekly trendline area and monthly S/R, so going to watch pretty close. Doubting Asian has enough gusto to push through this area

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

#239,045
Jul 18, 2010 7:35pm Jul 18, 2010 7:35pm

Honored
| Joined Dec 2009 | Status: Trader | 597 Posts

Quoting budak baru

Disliked

yes i aware for that but as for now im looking for support at 1.49 before continue to 1.57.thanks

Ignored

I am expecting a reversal right now at the asian session at 1.5250 or 70 Not much power in the asian session today. Or we we might get a franky fake out and get a reversal at today support S1 at 1.5230 or the trendline 1.5217 at LO and we are on our way to 1.5530

#239,046
Jul 18, 2010 7:36pm Jul 18, 2010 7:36pm

lust pips
| Joined Jul 2009 | Status: Trader | 26 Posts

Quoting No Stress

Disliked

Hi to all,

My problem with Cloogie was not trading itself but how a member should speak to an other. Humble, polite and respect. That's it.

We will not going to discuss about this for the next ten years. Enough up to now. Agree everyone?

Some ask question about my approach or method. I got respect to all members including 4xStar who asked me about it. Seen i'm coming here to share and not to fight or to humiliate (life is not only trading, remember), I can give some indications about my strategy. It is difficult to put all what you know in...

Ignored

it same to me

#239,047
Jul 18, 2010 7:40pm Jul 18, 2010 7:40pm

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

Quoting damonl

Disliked

Trade is now heading into Weekly trendline area and monthly S/R, so going to watch pretty close. Doubting Asian has enough gusto to push through this area

Ignored

Out for 4 pips.. no sense in going into the whole right now.

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

#239,048
Jul 18, 2010 8:03pm Jul 18, 2010 8:03pm

Honored
| Joined Dec 2009 | Status: Trader | 597 Posts

Quoting damonl

Disliked

Out for 4 pips.. no sense in going into the whole right now.

Ignored

Nice job. I am out too. Hourly candle does not wanna close under 1.5285 i been watching it since friday London close. An indication that we might not be going down. See u at LO. UP UP UP

#239,049
Jul 18, 2010 8:05pm Jul 18, 2010 8:05pm

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

Quoting Honored

Disliked

Nice job. I am out too. Hourly candle does not wanna close under 1.5285 i been watching it since friday London close. An indication that we might not be going down. See u at LO. UP UP UP

Ignored

Sounds good.. I kind of agree as we are at a support level that has held up in the past. Going to hit the rack and catch you back here for London

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

#239,050
Jul 18, 2010 8:23pm Jul 18, 2010 8:23pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

I know I should short, but considering 1, 5, 15, and 30 minute, i am not sure this is the correct place to short (5300)

I should get 5240 zone before the big bounce to 5440 range top

#239,051
Jul 18, 2010 8:24pm Jul 18, 2010 8:24pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

Quoting forexlion

Disliked

I know I should short, but considering 1, 5, 15, and 30 minute, i am not sure this is the correct place to short (5300)

I should get 5240 zone before the big bounce to 5440 range top

Ignored

by the way Good Morning and Nappy Monday to you all.

#239,052
Jul 18, 2010 8:35pm Jul 18, 2010 8:35pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

Well last week was pretty simple, buy @ 1.50000 and close @ 1.54400

this week, however is going to be tricky, possibly tight ranging, unless we break some bones [Last Week High] which is doubtful this week.

I am still confused on how to begin the week.

I do see a move to bottom @ 5256, then possibly try to scale mount 5440, but 4 hour won't agree on that and bring high speed winds and bad weather

Lets see

http://img28.imageshack.us/img28/2608/29718309.gif

#239,053
Jul 18, 2010 8:38pm Jul 18, 2010 8:38pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

Quoting forexlion

Disliked

Well last week was pretty simple, buy @ 1.50000 and close @ 1.54400

this week, however is going to be tricky, possibly tight ranging, unless we break some bones [Last Week High] which is doubtful this week.

I am still confused on how to begin the week.

I do see a move to bottom @ 5256, then possibly try to scale mount 5440, but 4 hour won't agree on that and bring high speed winds and bad weather

Lets see

http://img28.imageshack.us/img28/2608/29718309.gif

Ignored

4 hour has its own agenda

http://img534.imageshack.us/img534/5148/55503533.gif

#239,054
Jul 18, 2010 8:50pm Jul 18, 2010 8:50pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

Okies I am off to begin the week with 5300 to 5260 journey

http://img268.imageshack.us/img268/6137/28266229.gif

Time to do some cleanup this week

http://img843.imageshack.us/img843/2...barrowcash.jpg

#239,055
Jul 18, 2010 8:51pm Jul 18, 2010 8:51pm

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

retracement at 5sma daily was completed.i expect cable to go down...

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Gold Expedition Return This Year: -16.4%

#239,056
Jul 18, 2010 8:58pm Jul 18, 2010 8:58pm

iqyusan
| Additional Username | Joined Jun 2009 | 339 Posts

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#239,057
Jul 18, 2010 9:00pm Jul 18, 2010 9:00pm

wormboy
Joined Jan 2009 | Status: Not bothered. | 18,084 Posts

Quoting vilas

Disliked

With all the Vitamins you have FED him, the fellow is literally bouncing ! Where do you think he is going to Stop WB ? Is it all the way to 48 !

Ignored

I honestly don't see cable back @4800 brother. Not yet anyway. That's because the long standing bearish W1 channel I had for months now had been breached last week & tho it managed to close below the all important 5310 & within the channel, there is a good chance that the previous week's high @5470 gets retested. That's usually the case anyway after a large breakout. If 5470 gives way, the next target will be @5640.
However, in order for the trend to turn back to bearish, 5310 level must hold & the holding support @5215 level must go. I cleared all short trades before friday close last week & will not be looking to build any large positions in between 5310 & 5215. Will only look to scalp in between this range until either one of the supp/res level gives way.

Good luck with your trades this week

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