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Cable Update (GBPUSD)

  • #246,441
  • Aug 18, 2010 3:44am Aug 18, 2010 3:44am
Are you still thinkinh long after those spikes?
Isen this a good place to sell ?

Look how bearish PA is on the 1h chart.
  • #246,442
  • Aug 18, 2010 3:45am Aug 18, 2010 3:45am
Just to my mind a good opportunity for a short will arise by the end of the day or maybe around 5 p.m. GMT.
  • #246,443
  • Aug 18, 2010 3:45am Aug 18, 2010 3:45am
Quoting intery
Attachment
bargain!
Hear the music before the song is over ...
  • #246,444
  • Aug 18, 2010 3:45am Aug 18, 2010 3:45am
Looks like the world and myself bought 1.5 which is good, because I was one of the suckers getting boiled in oil by the market yesterday for going long. It cost me 10% in one go, this move gave back the 10 plus 5%. Revenge trading is generally a bad idea, but in this case the revenge was served cold with with a big dose of round number. Flat and done for the day.

Good luck everyone.

  • #246,445
  • Aug 18, 2010 3:45am Aug 18, 2010 3:45am
post data react....finding some supply at the underside of the breeched 4hr/daily ascending channel now, co-existant with 61.8%5707-this mornings lows @ 5497...

Looking to buy the pullback...will see if anything develops

G/L
ex member
  • #246,446
  • Aug 18, 2010 3:47am Aug 18, 2010 3:47am
Quoting uksnowman
Agreed biig squeeze. The strength of that move makes me feel longs will be in play but with the low volatility I'm not sure.
broken already...
Hear the music before the song is over ...
  • #246,447
  • Edited 3:54am Aug 18, 2010 3:48am | Edited 3:54am
Quoting malcolmb14
this volume accumualtion seen MILES before news is now playing out ....

I guess volume does not work after all ...
and miles and miles and.....

This morning (for me anyway) it was that, combined with a triple round bottom on the 5m at big round number. Couldn't resist going long at all.

oh hell, S1 was down there as well.
  • #246,448
  • Aug 18, 2010 3:49am Aug 18, 2010 3:49am
good price to sell @620 imo
Thank You
  • #246,449
  • Aug 18, 2010 3:49am Aug 18, 2010 3:49am
I want to go long... Problem is I don't see a good place for my stoploss. (scalping)
  • #246,450
  • Aug 18, 2010 3:52am Aug 18, 2010 3:52am
Dosen`t it start to look bearish? With the PA on 1h chart? If this candles closes below 1.5600.. ?
  • #246,451
  • Aug 18, 2010 3:57am Aug 18, 2010 3:57am
Quoting mouse09
I guess we will se 5445 today
but right now I'm off
waiting for 5535 for set a sell order..

but at the same time.. price almost touched ema 233 on the daily - this is very strong reason for retrace.

i mean : why not to suggest that current low = 5498 it's a new point at the daily up channel for retrace ..

as usual - time will tell.

good luck everybody.
It sounds silly, but at this moment it seems I was right.
but i didn'n set my buy...
so, no risk, no money.
missed 130 pips.

http://www.forexfactory.com/attachme...8&d=1282121784


Attached Image (click to enlarge)
Click to Enlarge Name: 11111.gif Size: 16 KB
  • #246,452
  • Aug 18, 2010 4:01am Aug 18, 2010 4:01am
Quoting wormboy
good price to sell @620 imo
with ya wormey sell at 5625 dont think this bull shidt will last
Trade what you see never what you think!
  • #246,453
  • Aug 18, 2010 4:02am Aug 18, 2010 4:02am
Quoting Sunsi
Dosen`t it start to look bearish? With the PA on 1h chart? If this candles closes below 1.5600.. ?
1hr has printed a H above last 2 x LH of the previous downtrend, if anything 1hr is looking mixed-bullish not bearish now ?...that said there are obstacles overhead and the 4hr sentiment/trend remains bearish atm...I guess that a close above that last but one LH would be good for the bullish scenario.

-----

1min delivers on the buying the pullback with a hidden divergence set-up that delivers a new HH in the 5min uptrend after the pullback.

G/L

http://www.easy-upload.net/fichiers/...0108181123.gif
ex member
  • #246,454
  • Aug 18, 2010 4:05am Aug 18, 2010 4:05am
Quoting GlobalMacro
broken already...
on my chart it hadn't but all depends on how we draw the TL I guess. Anyway it has now with the new hourly candle so I'm looking at longs again too. GL
  • #246,455
  • Aug 18, 2010 4:05am Aug 18, 2010 4:05am
smallish gap up 15min and 5min showing bearish divergence really nice lets hope the trade is goign to be as good as the setup hahaha GL
  • #246,456
  • Aug 18, 2010 4:05am Aug 18, 2010 4:05am
Quoting Forextrader4
yep =]
http://img682.imageshack.us/img682/594/76364499.gif
  • #246,457
  • Aug 18, 2010 4:06am Aug 18, 2010 4:06am
Quoting SerpentDove
and miles and miles and.....

This morning (for me anyway) it was that, combined with a triple round bottom on the 5m at big round number. Couldn't resist going long at all.

oh hell, S1 was down there as well.

now is where is this going

1.5650 to 1.5700 channel high ....taking half 5650 , then trailing stop
Blogging daily now at www.volume.zone
  • #246,458
  • Aug 18, 2010 4:08am Aug 18, 2010 4:08am
Quoting Sunsi
Dosen`t it start to look bearish? With the PA on 1h chart? If this candles closes below 1.5600.. ?
It depends on you trading strategy. I am using m15 only and do scalping mostly
(90%), in a trend direction. I found it very hard for me to catch movements on a very beginning and very easy just ride with the trend. .
  • #246,459
  • Aug 18, 2010 4:09am Aug 18, 2010 4:09am
usa futures have made a come back from the lows.
  • #246,460
  • Aug 18, 2010 4:12am Aug 18, 2010 4:12am
Quoting highlander2
Support has broken now, but if it becomes a false break i would become less bearish on his pair, needs to close down today to confirm that the door is open to lower prices.
false break occured on the gbp. lot of existing longs would have been stopped out, now the market has made some money it can go long. starting to look more bullish as of now, not trading yet though....
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