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Cable Update (GBPUSD)

  • #245,201
  • Aug 12, 2010 4:36am Aug 12, 2010 4:36am
Quoting wormboy
if you enter on 4 hour, follow the trade on 4 hour only. you said that
I'll keep selling.
i was worried about the new concept, it takes time for things to set in

just 4 hours into the indi design and trust comes slowly
  • #245,202
  • Aug 12, 2010 4:38am Aug 12, 2010 4:38am
the current 1 hour candle went down on low volume
  • #245,203
  • Aug 12, 2010 4:41am Aug 12, 2010 4:41am
any demand around the asian lows / 23.6% 4345-5997,?... or is there some lower down into the 3 fib cluster mentioned earlier to 5580 ?...below here and 50% 5117-same 5997 hi beins a previous 4hr swing lo zone stretching down to 5551-41. Price still only @ 61% of it's 20 day average pip range so far

G/L
ex member
  • #245,204
  • Aug 12, 2010 4:42am Aug 12, 2010 4:42am
once the hour stoch completes it down maybe in the next 2 hours , i might long as the 4 hr macd is starting to move back up.
  • #245,205
  • Aug 12, 2010 4:43am Aug 12, 2010 4:43am
Quoting trending
I'm having a severe case of deja vu. Today and yesterday are practically doing the same thing at about the same time! The market is giving away money!
sounds like a plan............
  • #245,206
  • Aug 12, 2010 4:46am Aug 12, 2010 4:46am
Ask The Experts
  • #245,207
  • Aug 12, 2010 4:48am Aug 12, 2010 4:48am
Quoting bbmac
any demand around the asian lows / 23.6% 4345-5997,?... or is there some lower down into the 3 fib cluster mentioned earlier to 5580 ?...below here and 50% 5117-same 5997 hi beins a previous 4hr swing lo zone stretching down to 5551-41. Price still only @ 61% of it's 20 day average pip range so far

G/L
possible demand down to 5600 say Mni...then 5880...fits in with the potential support facors I am see-ing...? How strong is the supply ? can it absorb this demand??
ex member
  • #245,208
  • Aug 12, 2010 4:54am Aug 12, 2010 4:54am
Would look to get to 1.5560 area at least, 50 fib level of move up from descending channel top , mentioned it earlier , would be a good tgt, weekly S2 area close to where we are right now
  • #245,209
  • Aug 12, 2010 4:58am Aug 12, 2010 4:58am
Quoting Pickensrulz
Short at 15708
Took half profits at 15590.

Things are getting really interesting at these levels.
  • #245,210
  • Aug 12, 2010 5:00am Aug 12, 2010 5:00am
I'll be really surprise if it continues to drop further now. Oversold and obligation fulfilled.

Sorry, changed my mind, seems like there's still more drop in this one. S1 possible.
  • #245,211
  • Aug 12, 2010 5:01am Aug 12, 2010 5:01am
Quoting digger1
Would look to get to 1.5560 area at least, 50 fib level of move up from descending channel top , mentioned it earlier , would be a good tgt, weekly S2 area close to where we are right now
also around the 1.618% fib extension of this latest 1hr 5612-5713 pullback

G/L
ex member
  • #245,212
  • Aug 12, 2010 5:09am Aug 12, 2010 5:09am
finding 'some' support at that 5580 level, the 23.6% of main 4229-5997 swing....also another breech of the 1hr descending channel...price now at 82% of it's 20 day average daily pip range and 112% of it's 13 week (1/4 year) average pip range so far this week
ex member
  • #245,213
  • Aug 12, 2010 5:14am Aug 12, 2010 5:14am
below the potential support factors mentioned already is that previous weekly swing hi zone shown below 5523-5453 ?(potential rbs ?) in there the 50% of 4944-5997 @ 5471 and 61.8% 5117-5997 @ 5456. I wonder whether the longer term bulls may stage a rally from there ?

This weekly candle could well close as a bearish engulfing tomorrow.

G/L
Attached Image
ex member
  • #245,214
  • Aug 12, 2010 5:15am Aug 12, 2010 5:15am
Quoting 4xStar
Look how she skidded to a stop at Cloggie's infamous .5904 line ... did anyone get in on the ride? I managed part of it .. wheee ... luckily I waited for her to hit that line.
that was a real hard knock level...gave 300+ pips....

did you catch the entire/most of the move, 4x?

great call there...
Hear the music before the song is over ...
  • #245,215
  • Aug 12, 2010 5:33am Aug 12, 2010 5:33am
the 4hr screenshot below shows that previous swing lo zone ...50% of that 5117-5997 at top of it (5557 area)...mni also mentioining that 161.8 fib extension of the last 5612-5713 1hr pullback in there @ 5550...saying bids likely in the 5550/50 zone as a result...should it be tested....it would also be a touch/breech of the ascending daily (lower) channel t/line and a also the 4hr descending (lower) channel

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 10 KB
ex member
  • #245,216
  • Aug 12, 2010 5:33am Aug 12, 2010 5:33am
Taking the average drop for the last four days trading will see 15504 possibly
by the end of today.
  • #245,217
  • Aug 12, 2010 5:41am Aug 12, 2010 5:41am
Quoting Pickensrulz
Took half profits at 15590.

Things are getting really interesting at these levels.
Nice done my friend!
I'm taken some off the table after this 100 pips trade myslef too!
Keeping a simple fraction of it for pure fun now since entry is good (@1.5696 here).

I just woke up and I can't say that I hate making money when I sleep!
Good trade all!
"Flip that coin!"
  • #245,218
  • Aug 12, 2010 5:51am Aug 12, 2010 5:51am
Quoting Scipionz
Nice done my friend!
I'm taken some off the table after this 100 pips trade myslef too!
Keeping a simple fraction of it for pure fun now since entry is good (@1.5696 here).

I just woke up and I can't say that I hate making money when I sleep!
Good trade all!

Nicely done!
  • #245,219
  • Edited 6:17am Aug 12, 2010 5:57am | Edited 6:17am
Quoting AdrianHNV
Taking the average drop for the last four days trading will see 15504 possibly
by the end of today.
400 pips retrace. who would've thunk? 61xx anyone? lol

Quoting wormboy
looks like we're going lower. secondary W1 supp level seems like a reasonable target @5590. Below that then it's the monthly pvp @5420.
Let's see how this goes.
done. if price can close below 5590, the next support is the third W1 support & monthly pvp @5420.

Current price is a good level to cover some profit tho imo.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: g1.gif Size: 26 KB
Thank You
  • #245,220
  • Aug 12, 2010 6:00am Aug 12, 2010 6:00am
Quoting forex_growth
hey bro.. what do you mean by thrusting?

thanks and all aboard...
the candle which bbmac highlighted on his chart is called thrusting. It's a continuation pattern. Obviously you can see the outcome of it now that it printed lower
Thank You
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