Cable Update (GBPUSD)

morning all

first thing i bought where my study said to do!
half position than normal coz later is CPI and sincerely not so clearly reversin up yet

will add long if confirmation pattern
will add buy stops before news

if all goes wrong i close all position and go short
mostly if bad CPI

Hello, TauTrader. How are you today?

I'm in Long at 1.6270. Will close at 1.6340.

Good luck, guys.

Josef

hi,
that's a good entry

Good day to you,

Not famous charts - stuff is there for all to see. But here you go:

1) 1.6310 level is the current barrier to any upside movement. BUT - we have last week Thursday's close @ 1.6318/19 - so careful there as price may break through 1.6310, but get blocked at the same time by 1.6318/19.

2) the daily open @ 1.6343. Simple "rule" is to look for shorts below the daily open, and longs above the daily open.

3) the 50% line of last week @ 1.6257/8 - serves as a pivot. This level may block, but is less significant.

4) This GANN Angle I am very interested in, as this signifies an interim border between Bulls and Bears. A convincing break down may open up a move to 1.6112. Unfortunately, this is not a fixed number to watch - but time related too.

5) 50% line of the April range @ 1.6198/1.6200

6) This is the centre area of the Weekly Gann as well as a Fib level - This area sits @ 1.6126 to 1.6112 ( look at the far left of the chart - you will see price ping-ponged between these 2 levels in early April).

7) The opening price of last week @ 1.6100

8) The low of last week @ 1.6089

I am a bit lost at the moment as to what to trade. I have adjusted my target to short to 1.6350. Will wait. I still believe we will go up a bit - but we may only see 1.6340 - 1.6320.

I know this does'nt help much - but you asked

All the best

Thanks, BBKing. Where would be TP ?

Josef

Good day to you,

Good entry for a few. Just lock and protect as soon as you see fit - ok?

All success

Going out for the rest of the morning. See later.

Regards

my TP actually is 6480
n SL 6230 tight near 6250
but sincerely, according as i also read on posts here, and on my chart, the 6310-6320 line is 1st wall price will find if goes up.

so... if CPI n others goes out good, the 6320 is nothing!
if 6320 holds will close n re enter if breakes then above

would be better to set stop @BE but still unable

also got buy order on usd jpy 83.80 gone good
small position stop loss @BE now

will buy that thing every time goes near 83.64 line if patterns let me do

best of the day actually is eur usd....
had buy order 4377 did not reach for 2-3 pips
open manually 4400

lets see if my day goes

sorry a question guys
that double top on h1....

do we consider neckline the 6320 or the 6280?

I would say - 6280.

....Would wait for 265 to go before short , but even then , 200ma likely to provide a bit of support

me too, hope we are not the only two who thinks that

yes 6265 line very interesting. if broke n close below, will give call for short

http://soundcloud.com/djmixes/franco...al-mix-07-2008

a bit of 100% pure house music

Fasten your seatbelt, UK reports are coming !!

yeah.. gpb only bad news..

closed long @BE

Goodbye mr stop loss! Quick and painful.

shorts closed.. looking for another one

I wonder if we will see it lower, I'll take position after Viagra effect is gone