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Cable Update (GBPUSD)

  • #272,941
  • Feb 25, 2011 2:15am Feb 25, 2011 2:15am
Quoting PhAnTi'
yep thats correct, but u usually sell because PA is at some resistance areas...

sell high - buy low.
Got it. So my S is where TP. Thank you
  • #272,942
  • Feb 25, 2011 2:18am Feb 25, 2011 2:18am
mistake.
closed BOTH longs 6105 n 6109 before resistance 6155

now i need to get in again on GDP news
90% of traders use TA, indicators and prediction
  • #272,943
  • Feb 25, 2011 2:24am Feb 25, 2011 2:24am
Quoting millionairea
Watching GU this morning, it looks to me the pair is being reisted at 1.61650 where we have a trio resistance of the Daily Pivot, Weekly Pivot and 38.2 Fibonacci favoring further sell today. A retest of Thursday's Low is quite inevitable. What do you think folks?

Nothing is inevitable and no one knows what will happen. I think we should trade what we see not what we think-the market doesn't care what we think.

G/L
ex member
  • #272,944
  • Feb 25, 2011 2:25am Feb 25, 2011 2:25am
Quoting bbmac
Nothing is inevitable and no one knows what will happen. I think we should trade what we see not what we think-the market doesn't care what we think.

G/L
unless u dont trade 10k lots
Hero calls followed by margin calls...
  • #272,945
  • Feb 25, 2011 2:36am Feb 25, 2011 2:36am
Quoting Exciter135
too quiet sirs? Opened 2 shorts @.6152. TP 1st @.6126 coz a minor support here. The other BE, coz not much confident b4 LD open.
Damn it takes me out then turns head down again. Now only know staring at my compt.
  • #272,946
  • Feb 25, 2011 2:44am Feb 25, 2011 2:44am
Quoting PhAnTi'
yep thats correct, but u usually sell because PA is at some resistance areas...

sell high - buy low.
And...
Early know MARKET's will moving & got Quick Response
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #272,947
  • Feb 25, 2011 2:48am Feb 25, 2011 2:48am
drop from pullback hi at 6153 finds demand at the 61.8% of yesterday's lo - pullback hi 6084-6160.

Event Risk: 0930am gmt Uk Q4 GDP revision and business investment. Any upward revsion to Q4's GDP (-0.5%) particularly to 0% or higher may see some £ strength on the knee-jerk. Conversely any downward revision to the shock -0.5% may see some £ weakness on knee-jerk market reaction. Business Investment data reaction is harder to say, and it is historically not known to be a 'big' news event in respect of market reaction..

G/L
ex member
  • #272,948
  • Feb 25, 2011 3:04am Feb 25, 2011 3:04am
Quoting Tsar
And...
Early know MARKET's will moving & got Quick Response
Great . But how long take you to reach to this edge?
  • #272,949
  • Feb 25, 2011 3:20am Feb 25, 2011 3:20am
a few minutes till Uk data.

Fibs, fibs everywhere...yesterday's lo @ 61.8% 5963-6274...Today's current hi (6160) @ 38.2% 6274-6084 and today's current lo (6113) @ 61.8% 6084-6160 .

G/L
ex member
  • #272,950
  • Feb 25, 2011 3:35am Feb 25, 2011 3:35am
GDP -0.6%. Not good for the GBP. Oh well.
  • #272,951
  • Feb 25, 2011 3:40am Feb 25, 2011 3:40am
Good morning fellow my fellow traders. It has been a long time I came here. Well, I will like to contribute to what you people are discussing. The best zone to resume up-trend now is 1.6084 (support) and 1.670 (fib 23.6% and trendline).

Good luck.
  • #272,952
  • Feb 25, 2011 3:40am Feb 25, 2011 3:40am
Quoting Exciter135
Great . But how long take you to reach to this edge?
3 Days, got Practice PA (Price Action) from PhAnTi' Bro
and 6 Days use for TRADE ( in Last Week)

I Started in FOREX Trade Early Oct 2010 with My Background Marketing Sales (and My English so Bad)
I love about Analysis and Strategy so much...
Got BIG PROFIT and then BIG LOSS too
I very Extremely Hard Learn, Practice and Analyze my Experienced.
I have TARGET to Finish Learn FOREX in 15 Months. Still have 3 Months again...

9 Months I spent countless of hour in sleepless Night watching the CHART and Play TRADE too (around 12 - 16 Hours Everyday)
3 Month Practice MINDSET with No TRADE and Watch CHART only.

No HIDDEN ... No LIE ...
Always looking the GREAT, never left GOOD Point...
  • #272,953
  • Feb 25, 2011 3:53am Feb 25, 2011 3:53am
Quoting bbmac
.....

Event Risk: 0930am gmt Uk Q4 GDP revision and business investment. Any upward revsion to Q4's GDP (-0.5%) particularly to 0% or higher may see some £ strength on the knee-jerk. Conversely any downward revision to the shock -0.5% may see some £ weakness on knee-jerk market reaction. Business Investment data reaction is harder to say, and it is historically not known to be a 'big' news event in respect of market reaction..
Price testing the zone around yesterday's 6084 lo now following the drop on the data react.

G/L
ex member
  • #272,954
  • Feb 25, 2011 4:04am Feb 25, 2011 4:04am
Will it bounce ?

Attached Image (click to enlarge)
Click to Enlarge Name: 48 h1 feb 26 11.gif Size: 30 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #272,955
  • Edited 4:19am Feb 25, 2011 4:05am | Edited 4:19am
Here comes $ Strength...GBP could be going here, just needed the push.

Edit: Well it is friday so there's not going to be too much momentum
  • #272,956
  • Feb 25, 2011 4:08am Feb 25, 2011 4:08am
Quoting pilotui
Here comes $ Strength...GBP could be going here, just needed the push.
You mean this ?
Attached Image (click to enlarge)
Click to Enlarge Name: 73 h4 feb 26 11.gif Size: 30 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #272,957
  • Feb 25, 2011 4:08am Feb 25, 2011 4:08am
Current near-term 4hr chart is below. How much demand in this previous 1hr/4hr swing lo zone?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 71 KB
ex member
  • #272,958
  • Feb 25, 2011 4:18am Feb 25, 2011 4:18am
6080 acting as a very solid support. I am going long myself, targeting 6200.
  • #272,959
  • Feb 25, 2011 4:25am Feb 25, 2011 4:25am
HAven't we double topped on 4h and broken thru neck line? Targeting .6050
Twitter: @TrendersGame
  • #272,960
  • Edited 4:43am Feb 25, 2011 4:29am | Edited 4:43am
Quoting Tenshi28
6080 acting as a very solid support. I am going long myself, targeting 6200.
G/L
ex member
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