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Cable Update (GBPUSD)

  • #245,441
  • Aug 13, 2010 2:26am Aug 13, 2010 2:26am
Quoting kuroro001
If this hourly candle ain't a reverse one we're going towards 1,5700.
This candle should show us what to do
I agree with you.
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Click to Enlarge Name: gbp.gif Size: 17 KB
  • #245,442
  • Aug 13, 2010 2:27am Aug 13, 2010 2:27am
Quoting hicomm
With what i am seeing on my 4H, london is not going to short GBP...but who knows, i might be wrong.
I see a nice big fat supply zone on my h4 and if it gets past 1.5712, then I can see it go further north, but until then on the h4 with MAs crossing over (25 and 50), I still see this as a short! Daily is in an uptrend, but don't forget the 3 crows (bearish) Wormy pointed out on the d1.

EURUSD supply zone is 1.2933 to 1.2892. I got in with a short at 1.2896 with SL at 1.2938. Let's see what happens! 1st target 3:1. 2nd target 1.2755, 3rd target is parity

Good luck people! Hope you get lots of green pips today!
  • #245,443
  • Aug 13, 2010 2:30am Aug 13, 2010 2:30am
That potential support confluence discussed y/day held up in the asian session, price bouncing at thbe 50% 5117-5997 @ 5560, now 100pips up from there.

G/L
ex member
  • #245,444
  • Aug 13, 2010 2:31am Aug 13, 2010 2:31am
Quoting bbakker
I see a nice big fat supply zone on my h4 and if it gets past 1.5712, then I can see it go further north, but until then on the h4 with MAs crossing over (25 and 50), I still see this as a short! Daily is in an uptrend, but don't forget the 3 crows (bearish) Wormy pointed out on the d1.

EURUSD supply zone is 1.2933 to 1.2892. I got in with a short at 1.2896 with SL at 1.2938. Let's see what happens! 1st target 3:1. 2nd target 1.2755, 3rd target is parity

Good luck people! Hope you get lots of green pips today!
Short as well...good luck to you too
30mn reversing candle with high vol on eurusd...another 30mn candle in the red and down we go...to your parity ^^
COT: The precious data ignored
  • #245,445
  • Aug 13, 2010 2:32am Aug 13, 2010 2:32am
Quoting bbakker
We have hit a supply zone (1.5712-15663) and this could be a turning point. The zone is too large for my SL, but EURUSD has a smalller supply zone and I am going to short fibre. Good luck people!
Type error corrected. Supply Zone is 1.5712-1.5663!
  • #245,446
  • Aug 13, 2010 2:34am Aug 13, 2010 2:34am
Quoting bbakker
Type error corrected. Supply Zone is 1.5712-1.5663!
HI BB, why do you see that as a 'supply zone ? ' Thx
ex member
  • #245,447
  • Aug 13, 2010 2:35am Aug 13, 2010 2:35am
Hello room, new to this forum. Been trading around a year, some good, lots not so good!

Apologies for lack of chart, but I'm looking at confluence represented by the 2x extension of the 1.5638 swing high (IG's charts) and aforementioned 1.5712 support turned resistance. This area hopefully gives shorting opps....
  • #245,448
  • Aug 13, 2010 2:38am Aug 13, 2010 2:38am
hit tp now, got +50 pip.

Can't wait for us economic news

GU will go up till 1.57
Always Learn,..
  • #245,449
  • Aug 13, 2010 2:39am Aug 13, 2010 2:39am
This is what I am see-ing near-term 1hr in respect of potential res/sbr factors, the red zone is also a 4hr previous swing lo/hi...Fibs are drawn to the 5560 lo from 5597,5907, 5735 and 5713... so 61.8% of the 5735-5560 is what I see at the current Hi

Mni also mentioning possible offers likely to 5680/85 ?
Attached Image
ex member
  • #245,450
  • Aug 13, 2010 2:41am Aug 13, 2010 2:41am
Quoting bimmerbob
Hello room, new to this forum. Been trading around a year, some good, lots not so good!

Apologies for lack of chart, but I'm looking at confluence represented by the 2x extension of the 1.5638 swing high (IG's charts) and aforementioned 1.5712 support turned resistance. This area hopefully gives shorting opps....
welcome, hope you find it productive here...at very least it passes the time between set-ups Lol...thx for the info
ex member
  • #245,451
  • Aug 13, 2010 2:42am Aug 13, 2010 2:42am
Please can someone tell me what time is the New York open in either GMT or EST

And the time of the London close

Many thanks
  • #245,452
  • Aug 13, 2010 2:42am Aug 13, 2010 2:42am
Quoting Pickensrulz
Gotta tell ya, I disagree now. I think we head higher on Friday.
Took some profits on my two longs from 15575 & 15588 @ 15660
Total pips 157

15720 is a crucial area by my method.
If that goes than the shorts look like this =>
  • #245,453
  • Aug 13, 2010 2:43am Aug 13, 2010 2:43am
Quoting bbmac
HI BB, why do you see that as a 'supply zone ? ' Thx
If you want to understand supply and demand zones review Sam Seiden's videos at FXStreet. Here is one of them -

http://www.fxstreet.com/live/session...a-426040a49612

Good luck!
  • #245,454
  • Aug 13, 2010 2:44am Aug 13, 2010 2:44am
Quoting Indyfx
Please can someone tell me what time is the New York open in either GMT or EST

And the time of the London close

Many thanks
for forex it is widely believed to be around 7am NY time ..12am Uk time = 11am gmt. Not a centralised market so no official open time, unlike say equity markets which are exchange traded.
ex member
  • #245,455
  • Aug 13, 2010 2:45am Aug 13, 2010 2:45am
Quoting bbakker
If you want to understand supply and demand zones review Sam Seiden's videos at FXStreet. Here is one of them -

http://www.fxstreet.com/live/session...a-426040a49612

Good luck!
Thanks, I am indeed a big fan of sam seidon's methods and have seen all his videos etc....I still don't understand why you think that zone you mention is a potential supply zone ? But bthx anyway
ex member
  • #245,456
  • Aug 13, 2010 2:46am Aug 13, 2010 2:46am
Quoting bbmac
for forex it is widely believed to be around 7am NY time ..12am Uk time = 11am gmt. Not a centralised market so no official open time, unlike say equity markets which are exchange traded.
Thanks
  • #245,457
  • Aug 13, 2010 2:46am Aug 13, 2010 2:46am
Quoting bbmac
welcome, hope you find it productive here...at very least it passes the time between set-ups Lol...thx for the info
Thanx!
  • #245,458
  • Aug 13, 2010 2:48am Aug 13, 2010 2:48am
the 3 areas circled on 1hr chart are where I saw potential resistance factors confluence, ie in ascending order

a. fib and trend line and Daily R1 pivot, 100sma on 4hr
b. 2 x fibs
c. previous 1hr swing hi with previous 4hr swing lo/hi zone

Price is at a. currently
Attached Image
ex member
  • #245,459
  • Aug 13, 2010 2:51am Aug 13, 2010 2:51am
Quoting bbmac
Thanks, I am indeed a big fan of sam seidon's methods and have seen all his videos etc....I still don't understand why you think that zone you mention is a potential supply zone ? But bthx anyway
Maybe you should review his videos again, because I use his methods to mark them off on my charts. Let me ask you a question... when was the last time there was a sell off on the h4? (Hint: Use my numbers to mark them off on your chart and then ask the question)

I personally don't like this particular supply zone, but I did like the one on EURUSD and has a further demand zone as a target.
  • #245,460
  • Aug 13, 2010 2:53am Aug 13, 2010 2:53am
Sheeeet, I am late for work! Goodbye people... many green pips to you and see you all in a couple of weeks time! I am hoping to have completed my Trading Plan by then!
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