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Cable Update (GBPUSD)

  • #275,921
  • Apr 10, 2011 4:01pm Apr 10, 2011 4:01pm
Quoting Mrleeforex
I believe it will be either sideway or uptrend. I can't see any downtrend for now
talkin about possibility don't forget that now, price can go up, down, or lateral a bit from here.

uptrend already done, now need confirm.
downtrend not yet, need a confirm.
lateral seems possible at these levels some move to test bottom n head of channel 6400-6330

but who knows? lets see what happen
90% of traders use TA, indicators and prediction
  • #275,922
  • Apr 10, 2011 4:11pm Apr 10, 2011 4:11pm
Quick(?)buy 16371. TP 16396. SL 25 pips....Double bottom yesterday 16368.Opening 5 min bounced up off it.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (DFB).png Size: 7 KB
All systems of divination, like music itself,work through patterns.
  • #275,923
  • Edited 6:10pm Apr 10, 2011 5:16pm | Edited 6:10pm
Exit +5 ...bored.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (DFB).png Size: 9 KB
All systems of divination, like music itself,work through patterns.
  • #275,924
  • Apr 10, 2011 6:12pm Apr 10, 2011 6:12pm
Quoting kaspopsicle
Exit +5 ...bored.
Chances are we test those boxes and go back to 1.64000........
  • #275,925
  • Apr 10, 2011 6:14pm Apr 10, 2011 6:14pm
Quoting taomql4
Chances are we test those boxes and go back to 1.64000........
That will be our Testing point , if it goes above 16400 the I would say 16500 is inevitable and I expect it to happen
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  • #275,926
  • Apr 10, 2011 6:17pm Apr 10, 2011 6:17pm
Quoting taomql4
Chances are we test those boxes and go back to 1.64000........
This is my plan ...but i fall asleep on low volume and my keys.
Thanks
All systems of divination, like music itself,work through patterns.
  • #275,927
  • Apr 10, 2011 6:22pm Apr 10, 2011 6:22pm
Quoting Mrleeforex
That will be our Testing point , if it goes above 16400 the I would say 16500 is inevitable and I expect it to happen
If it's going to down , I don't think it passes 1.6347 before we see 1.64000 again.
.
Not cancelling my buy orders no matter what ..lol

Anyways , Good luck ..
  • #275,928
  • Apr 10, 2011 6:24pm Apr 10, 2011 6:24pm
Quoting kaspopsicle
This is my plan ...but i fall asleep on low volume and my keys.
Thanks
But You know where to GO .. YUP , Music room ..lol
  • #275,929
  • Apr 10, 2011 6:31pm Apr 10, 2011 6:31pm
Quoting taomql4
If it's going to down , I don't think it passes 1.6347 before we see 1.64000 again.
.
Not cancelling my buy orders no matter what ..lol

Anyways , Good luck ..
Ema 200 at 349 15 min. ...supporting next level ...
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (DFB).png Size: 8 KB
All systems of divination, like music itself,work through patterns.
  • #275,930
  • Apr 10, 2011 6:36pm Apr 10, 2011 6:36pm
Quoting kaspopsicle
Ema 200 at 349 15 min. ...supporting next level ...
Doesn't even look like it wants to test those levels . I 'll tell Ya , there's a strong attraction to 1.64000 - Pretty Good strength underneath ..
Attached Image (click to enlarge)
Click to Enlarge Name: gu-6400-13.jpg Size: 104 KB
  • #275,931
  • Apr 10, 2011 6:45pm Apr 10, 2011 6:45pm
Have to admit to getting back in. What are these indies you use Tao?
All systems of divination, like music itself,work through patterns.
  • #275,932
  • Apr 10, 2011 6:51pm Apr 10, 2011 6:51pm
Quoting kaspopsicle
Have to admit to getting back in. What are these indies you use Tao?
I Trade Using Volume Spread Analysis (VSA ) --

-- Hawkeye Volume indicator
-- Trend channels thingy
  • #275,933
  • Apr 10, 2011 7:03pm Apr 10, 2011 7:03pm
Quoting taomql4
I Trade Using Volume Spread Analysis (VSA ) --

-- Hawkeye Volume indicator
-- Trend channels thingy
Errr....thanks...
Will attempt to wrap head around that next W/E.
All systems of divination, like music itself,work through patterns.
  • #275,934
  • Apr 10, 2011 7:11pm Apr 10, 2011 7:11pm
Optimistic long is the way and Monday would definitely close long
  • #275,935
  • Apr 10, 2011 7:29pm Apr 10, 2011 7:29pm
Quoting kaspopsicle
Have to admit to getting back in. What are these indies you use Tao?
Got back in 380. exit 391. Shoulda shorted but too zonked.
G'night, day etc.
All systems of divination, like music itself,work through patterns.
  • #275,936
  • Edited 9:45pm Apr 10, 2011 7:57pm | Edited 9:45pm
Quoting kaspopsicle
Got back in 380. exit 391. Shoulda shorted but too zonked.
G'night, day etc.
-- I think they are just testing those boxes .. it's a shakeout , we should go back up again ....6400
  • #275,937
  • Apr 10, 2011 11:17pm Apr 10, 2011 11:17pm
Since GU never break 16430 will GU continue to go down until US session ?

is there any opinion about this ?
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  • #275,938
  • Apr 10, 2011 11:27pm Apr 10, 2011 11:27pm
Quoting Mrleeforex
Since GU never break 16430 will GU continue to go down until US session ?

is there any opinion about this ?
Who knows?

One thing about this Pair you must be able to take the draw downs. Seems like if you are patient and do not go in to heavy you can profit from a very high majority of the trades. But....in my case anyway....I always take an initial hit off this Pair then it reverses rather nicely.

Personally, in the intermediate to long term the US Greenback is going to strike back with a vengeance. I like how we have had upward revisions in the jobs numbers for severeal months now. That is very Bullish.
  • #275,939
  • Apr 10, 2011 11:27pm Apr 10, 2011 11:27pm
I take SHORT position for now. Because the price won't penetrate 6400. But it will probably change when other players come in during London and US session. It is still stuck between 6341-6400. Will we see a major move today?
  • #275,940
  • Apr 10, 2011 11:31pm Apr 10, 2011 11:31pm
If it starts getting back up close to 1.64 I'll take a Short.

1.6325... might, but probably not....take a small Long position.

Overall I think the Greenback is obscenely undervalued right now but this could take months for this to play out.
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