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Cable Update (GBPUSD)

  • #276,161
  • Apr 12, 2011 6:42pm Apr 12, 2011 6:42pm
Quoting bbakker
Nice

Crap January, Excellent Febuary, March was OK and a good start to April. I am still fine tuning and I am in no rush as I also have a full-time job. I will be in Amsterdam next week at a customer's site for 3 days. I am for the most part office based.

EU is either going to turn here (Short order at 1.4560 with SL at 1.4590) or more likely around 1.5. I see cable at $2 eventually, but it is going to be a slow move up. We might see a bigger retracement before 1.7, but otherwise yo-yo up to 2.0 which might take a couple of years....
thanx for the input; i also agree the jpy has been too strong and will reverse however, right now everyone else thinks differently???

i also thought the cable may go back to where is was a few years ago around 2. if so we are going to make profit.

i currently have less than 1000 bucks to trade for play, i would like to have 20k and trade like a pro and still keep my day job :-)


btw: i just went long on the cable look good like it is fighting up - if not, i will go long again at 1.618 (strong support) also long the aussie against dollar and jpy now...see how the night goes:-)
  • #276,162
  • Apr 12, 2011 6:52pm Apr 12, 2011 6:52pm
Quoting mpurdy1973
thanx for the input; i also agree the jpy has been too strong and will reverse however, right now everyone else thinks differently???

i also thought the cable may go back to where is was a few years ago around 2. if so we are going to make profit.

i currently have less than 1000 bucks to trade for play, i would like to have 20k and trade like a pro and still keep my day job :-)


btw: i just went long on the cable look good like it is fighting up - if not, i will go long again at 1.618 (strong support) also long the aussie against dollar and...
Hope the Asia session treats you well... I am off to bed for the early morning start! Take it easy and many green pips!
  • #276,163
  • Apr 12, 2011 7:06pm Apr 12, 2011 7:06pm
Quoting mpurdy1973

btw: i just went long on the cable look good like it is fighting up - if not, i will go long again at 1.618 (strong support)
yes it does
  • #276,164
  • Apr 12, 2011 7:30pm Apr 12, 2011 7:30pm
Quoting PoundTrader
im still pushing, bulls got a little strong for a min. lets see if she hit my t/p 1.6177
that'll be me pushing her back up pt
Thank You
  • #276,165
  • Apr 12, 2011 8:00pm Apr 12, 2011 8:00pm
Good day,

Yesterday morning I posted a 15min chart. Look at no.4 on the first chart. The weekly GANN line. Mentioned that it's important to keep Bulls in.

The second chart is taken now - look how price has respected the weekly GANN line as we are going along. Are we getting more and more pressure to push through - or will we bounce once again?

All the best
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu10008.gif Size: 33 KB
  • #276,166
  • Apr 12, 2011 8:11pm Apr 12, 2011 8:11pm
Correlations have not been that strong lately, but here's an interesting look at the DOW:

http://i1084.photobucket.com/albums/...04-12_1555.png
  • #276,167
  • Apr 12, 2011 9:11pm Apr 12, 2011 9:11pm
Good day,

Today?

1.6160 springs to mind. No longs on this for me. My position remains the same as yesterday. Would love to get an opportunity to sell in the 1.6280 to 1.6290 area.

Some points of possible interest:


1) Daily open - 1.6251/2

2) Monday's low @ 1.6312

3) Monday's close @ 1.6342

4) S/R level that may block short term progress - 1.6226 - You want this to be cleared and hold as support turned resistance, should a short be your preferred direction.

5) The 50% line of the April price range - 1.6198/9

6) The target - 1.6160. This number is a guide, based on the recent angle of price action and time lapsed. Price may turn away from this projection or speed up past this. This is a reactionary indication only and should be treated as such.

7) The centre of the weekly GANN. 1.6112

If you are inclined to trade long - 1.6226 to 1.6220 would be a good entry. If you are inclined to trade short - 1.6280 to 1.6290 would be a good entry.

Please take note that the views expressed here, is my personal take and should not be taken as a trade recommendation. The purpose is to make lesser experienced traders aware of levels that may impact price behaviour. Should any of you feel this is a waste of time and DUH! obvious - please speak freely. No offence taken.( you will actually save me a lot of time). I will then refrain.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: gu10010.gif Size: 36 KB
  • #276,168
  • Apr 12, 2011 9:55pm Apr 12, 2011 9:55pm
Quoting wormboy
that'll be me pushing her back up pt
the fight is on wormboy
  • #276,169
  • Apr 12, 2011 9:55pm Apr 12, 2011 9:55pm
Quoting TauTrader
Good day,

Today?

1.6160 springs to mind. No longs on this for me. My position remains the same as yesterday. Would love to get an opportunity to sell in the 1.6280 to 1.6290 area.
Please keep posting, I find the analysis interesting. Personally I trade on the 1's and 5's therefore one hour may be short the next long, depending on the 15. However having a larger view may improve my aptitude for maintaining a stance in a trade and not baling to early.
  • #276,170
  • Apr 12, 2011 10:04pm Apr 12, 2011 10:04pm
Quoting TauTrader
Good day,

Today?

1.6160 springs to mind. No longs on this for me. My position remains the same as yesterday. Would love to get an opportunity to sell in the 1.6280 to 1.6290 area.

Some points of possible interest:


1) Daily open - 1.6251/2

2) Monday's low @ 1.6312

3) Monday's close @ 1.6342

4) S/R level that may block short term progress - 1.6226 - You want this to be cleared and hold as support turned resistance, should a short be your preferred direction.

5) The 50% line of the April price range - 1.6198/9

6) The target - 1.6160....



Master Tau , You are genius Trader but I always late getting your signal
  • #276,171
  • Edited 10:19pm Apr 12, 2011 10:07pm | Edited 10:19pm
Quoting TauTrader
Good day,
..

7) The centre of the weekly GANN. 1.6112

If you are inclined to trade long - 1.6226 to 1.6220 would be a good entry. If you are inclined to trade short - 1.6280 to 1.6290 would be a good entry.

Please take note that the views expressed here, is my personal take and should not be taken as a trade recommendation. The purpose is to make lesser experienced traders aware of levels that may impact price behaviour. Should any of you feel this is a waste of time and DUH! obvious - please speak freely. No offence taken.( you will...
Good day Mr.TT,

Not at all !
Your input is very useful here, a detailed explanation with no bias, clear and objectively.
Please continue to post.
Thank you.

Best regards,

PS; missed your jokes as well
  • #276,172
  • Apr 12, 2011 10:50pm Apr 12, 2011 10:50pm
Quoting TauTrader
Good day,

Today?

1.6160 springs to mind. No longs on this for me. My position remains the same as yesterday. Would love to get an opportunity to sell in the 1.6280 to 1.6290 area.

Some points of possible interest:


1) Daily open - 1.6251/2

2) Monday's low @ 1.6312

3) Monday's close @ 1.6342

4) S/R level that may block short term progress - 1.6226 - You want this to be cleared and hold as support turned resistance, should a short be your preferred direction.

5) The 50% line of the April price range - 1.6198/9...
A good analysis... i also think that to short when it reach 1.6290 today~
  • #276,173
  • Apr 12, 2011 11:10pm Apr 12, 2011 11:10pm
i see no sign of bullish until now
here is the chart

Attached Image (click to enlarge)
Click to Enlarge Name: GU daily.jpg Size: 118 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GU h4.jpg Size: 108 KB
yesterday was good, today is the best, tomorrow is amazing.....
  • #276,174
  • Apr 12, 2011 11:21pm Apr 12, 2011 11:21pm
Quoting CUtiger95
Please keep posting, I find the analysis interesting. Personally I trade on the 1's and 5's therefore one hour may be short the next long, depending on the 15. However having a larger view may improve my aptitude for maintaining a stance in a trade and not baling to early.
Good that you may find some value from time to time. Feel free to contribute and raise opinion. The energy here is good.

Quote
Master Tau , You are genius Trader but I always late getting your signal

GBP Trader,

Hehe - no Master.Just having a lucky streak . My wife's the genius - so she says. Please do not use my posts as signals to trade. You need to understand that I WILL be wrong and I can not carry the burdon of costing someone else money. It is important that you develop your skills and find your own way. Start posting your views and charts and let the members guide - where applicable.

I wish you only the best

Quote
Not at all !
Your input is very useful here, a detailed explanation with no bias, clear and objectively.
Please continue to post.
Thank you.

Best regards,

PS; missed your jokes as well

Mr.G,

Thanks - good to hear from you. I am making it my motto this year to attempt to remain as neutral as possible. Still battling at times. Appreciate the comments and looking forwards to interaction with you on the thread.

Quote
A good analysis... i also think that to short when it reach 1.6290 today~

Fatalwinter,

Glad that you find some value. Only enter when you are comfortable that your rules align in terms of entry. All the best to you.

I'm off to gym. See later.

Regards
  • #276,175
  • Apr 12, 2011 11:21pm Apr 12, 2011 11:21pm
Good day, lads. It seems that we will see some bears in action today. Will have to wait until london session and some GBP news though. I wish that I can trade another pair but for some reason it seems that I'm totally hooked with GBP/USD. Never switch to other pair this 2 years.
  • #276,176
  • Apr 12, 2011 11:49pm Apr 12, 2011 11:49pm
Quoting danielabas
i see no sign of bullish until now
here is the chart

Attachment
Attachment
More like absorbing demand in that Area- Chances are we see 1.6200 ..
  • #276,177
  • Apr 13, 2011 12:35am Apr 13, 2011 12:35am
Quoting TauTrader
Good day,

Today?

1.6160 springs to mind. No longs on this for me. My position remains the same as yesterday. Would love to get an opportunity to sell in the 1.6280 to 1.6290 area.

Some points of possible interest:


1) Daily open - 1.6251/2

2) Monday's low @ 1.6312

3) Monday's close @ 1.6342

.....................
good morning,
today i woke up thinkin an important thing:

yesterday i missed to thank you!!

reason: i was long on targetin above 6320, and near to forget to close half position near the resist.
i remembered to close half position when i saw your post you were going short 6324...

thanks a lot!

my big mistake: i did not open short
90% of traders use TA, indicators and prediction
  • #276,178
  • Apr 13, 2011 12:55am Apr 13, 2011 12:55am
hello all

im noticing the beginning of a down-trend channel in h4 (h1 samething)
price went below 6320 now moving lateral below it. looks like a consolidation

i drawn a straigh line n a dotted line channel
yesterday we had proof that there is big pressure in this area, so if price won't find buyers i think we will go near lower triangle (near 6180-6200)

while if price keep closing above the white dotted line, there will be a try again to breake the 6320 4me.

big question is: what there is today on news comming which can support gbp or us dollar?!
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.gif Size: 27 KB
90% of traders use TA, indicators and prediction
  • #276,179
  • Apr 13, 2011 12:59am Apr 13, 2011 12:59am
sorry last thing,

i think we must not forget the weekly chart, where the 6250 is a very strong n important line.........

so 4me levels today to watch are 6240-6250 ---- 6290-6320
hope will not a ranging all the week
90% of traders use TA, indicators and prediction
  • #276,180
  • Apr 13, 2011 1:09am Apr 13, 2011 1:09am
Quoting _BBKing_
sorry last thing,

i think we must not forget the weekly chart, where the 6250 is a very strong n important line.........

so 4me levels today to watch are 6240-6250 ---- 6290-6320
hope will not a ranging all the week
SHORT scalp @ 6280. Waiting for London session for more confirmation...
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