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Cable Update (GBPUSD)

  • #276,841
  • Apr 19, 2011 5:45am Apr 19, 2011 5:45am
Quoting fxkiller
Hey mate.. It is not called a pullback then.. Its is called retracement. Pullback is when the pair goes up again..

greets..
Good day to you,

Defenition of pullback:

What Does Pullback Mean?
A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum.

What Does Retracement Mean?
A reversal in the movement of a price, countering the prevailing trend

For me - pullback is short term - retracement is mid term and reversal is longer term.

All the best to you

Regards
  • #276,842
  • Apr 19, 2011 5:50am Apr 19, 2011 5:50am
Hi Tau

Nice explanations. All these occurences start with a pullback in price from a Hi/Lo and it is only retrospectively that we can see which one they actually turned out to be Lol...it is therefore correct to refer to pullbacks in current price which may or may not develop into a retracemnet or reversal per your definitions.

Thanks

G/L

Quoting TauTrader
Good day to you,

Defenition of pullback:

What Does Pullback Mean?
A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum.

What Does Retracement Mean?
A reversal in the movement of a price, countering the prevailing trend

For me - pullback is short term - retracement is mid term and reversal is longer term.

All the best to you

Regards
ex member
  • #276,843
  • Apr 19, 2011 5:56am Apr 19, 2011 5:56am
Quoting bbmac
Hi Tau

Nice explanations. All these occurences start with a pullback in price from a Hi/Lo and it is only retrospectively that we can see which one they actually turned out to be Lol...it is therefore correct to refer to pullbacks in current price which may or may not develop into a retracemnet or reversal per your definitions.

Thanks

G/L
Good day to you,

Nice to see you showing yourself.... Hope all is well on your side of the pond.

All success to you in your trading

Warm regards
  • #276,844
  • Apr 19, 2011 6:01am Apr 19, 2011 6:01am
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 25 KB
90% of traders use TA, indicators and prediction
  • #276,845
  • Apr 19, 2011 6:12am Apr 19, 2011 6:12am
Here we have a bullish wedge with a technical target of 1.6380. Safer to take on the break of 1.6315.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110419m5.gif Size: 24 KB


SL is bottom of the wedge. Not bad R:R.
Gone to a better place
  • #276,846
  • Apr 19, 2011 6:12am Apr 19, 2011 6:12am
Quoting _BBKing_
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
I wait for any pullback but it's still sideways flat. I guess I'll quit after US session.
  • #276,847
  • Apr 19, 2011 6:15am Apr 19, 2011 6:15am
Good day,

I do not think we are finished with this recent bullish move. I am however of the opinion that GU has started the process of looking for a place to turn down a bit. But this may take some time. I am thus preparing to short somewhere higher. 1.6330 / 1.6350? If the move lower later will be of any substance - price may want to first clear well above 1.6300 to hit stops sitting there and get new longs on board to kill off later.

All the best
  • #276,848
  • Apr 19, 2011 6:19am Apr 19, 2011 6:19am
Thanks for the chart, although I confess, I don't really get the dotted line channel running thru the middle of it or the coloured zones. On my 1hr chart posted above the coloured zones pinpoint where there have been a recent near-term obvious imbalance of demand/supply (a fractal swing lo) or supply/demand (a fractal swing hi) and where these coexist with the same on the 4hr t/f (red and blue zones.,) and there also fibs and trend lines on there as well.

4hr is below.

Thanks in advance for your reply to my query above (I have to run out now but will read it later if I miss it now.)

G/L

http://i56.tinypic.com/p4pqv.jpg



Quoting _BBKing_
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
ex member
  • #276,849
  • Apr 19, 2011 6:19am Apr 19, 2011 6:19am
Thanks for the chart, although I confess, I don't really get the dotted line channel running thru the middle of it or the coloured zones. On my 1hr chart posted above the coloured zones pinpoint where there have been a recent near-term obvious imbalance of demand/supply (a fractal swing lo) or supply/demand (a fractal swing hi) and where these coexist with the same on the 4hr t/f (red and blue zones.,) and there also fibs and trend lines on there as well.

4hr is below.

Thanks in advance for your reply to my query above (I have to run out now but will read it later if I miss it now.)

G/L

http://i56.tinypic.com/p4pqv.jpg



Quoting _BBKing_
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
ex member
  • #276,850
  • Apr 19, 2011 6:21am Apr 19, 2011 6:21am
Thanks for the chart, although I confess, I don't really get the dotted line channel running thru the middle of it or the coloured zones. On my 1hr chart posted above the coloured zones pinpoint where there have been a recent near-term obvious imbalance of demand/supply (a fractal swing lo) or supply/demand (a fractal swing hi) and where these coexist with the same on the 4hr t/f (red and blue zones.,) and there also fibs and trend lines on there as well.


4hr is below.


Thanks in advance for your reply to my query above (I have to run out now but will read it later if I miss it now.)


G/L


http://i56.tinypic.com/p4pqv.jpg


Quoting _BBKing_
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
ex member
  • #276,851
  • Apr 19, 2011 6:22am Apr 19, 2011 6:22am
Thanks for the chart, although I confess, I don't really get the dotted line channel running thru the middle of it or the coloured zones. On my 1hr chart posted above the coloured zones pinpoint where there have been a recent near-term obvious imbalance of demand/supply (a fractal swing lo) or supply/demand (a fractal swing hi) and where these coexist with the same on the 4hr t/f (red and blue zones.,) and there also fibs and trend lines on there as well.


4hr is below.


Thanks in advance for your reply to my query above (I have to run out now but will read it later if I miss it now.)


G/L


http://i56.tinypic.com/p4pqv.jpg


Quoting _BBKing_
hello
i see your chart
here you find mine... i was waitin 6320 (res+61%fibo+trendline) to short it
also others said 6320-6330 as interesting level

now,
i hope to see price there n see if a pullback happenz
ex member
  • #276,852
  • Apr 19, 2011 6:27am Apr 19, 2011 6:27am
my auto system triggered short @ 1.629........
well might be an overnight rather than a quick scalp
  • #276,853
  • Apr 19, 2011 6:36am Apr 19, 2011 6:36am
Quoting 0rPhioZ
my SHORT got stopped by that sudden move. Now I'm taking SHORT scalp 6291 to determine the direction. If it becomes crazier, I better rest today.
  • #276,854
  • Apr 19, 2011 6:55am Apr 19, 2011 6:55am
Quoting PoundTrader
This is one of the most dangerous scalping move I have ever done.
  • #276,855
  • Apr 19, 2011 7:34am Apr 19, 2011 7:34am
ok the pullback took place now I think that in the next 3 hours we'll brake the cloud in that area I was talking about.

long now,next target 1.633 then pull back again to 1.628X

good luck...I guess 1.633X will be touched at london close
  • #276,856
  • Apr 19, 2011 7:36am Apr 19, 2011 7:36am
Quoting 0rPhioZ
This is one of the most dangerous scalping move I have ever done.
Cue drum roll...
Gone to a better place
  • #276,857
  • Apr 19, 2011 7:39am Apr 19, 2011 7:39am
Quoting bbmac
Thanks for the chart, although I confess, I don't really get the dotted line channel running thru the middle of it or the coloured zones. On my 1hr chart posted above the coloured zones pinpoint where there have been a recent near-term obvious imbalance of demand/supply (a fractal swing lo) or supply/demand (a fractal swing hi) an....
hello
on my chart colored areas are where i think possible short/long
i find them near sup/res or near main trendlines
white dotted channel is an old fibochannel. it is there to remember me it exists (...)
now NY moving.
lets see
90% of traders use TA, indicators and prediction
  • #276,858
  • Apr 19, 2011 7:40am Apr 19, 2011 7:40am
I have to say this
for the next 80 hours we might see only the above values on a sideway market.

then on friday if we brake the 1.629X level we will go to 1.6355 level and then pullback again.

this week is a scalper's paradice as I can tell.don't think we will see any 1.638X area now

or if the news tmr will boom it up there is a diff story but technically there is no hope in my oppinion
  • #276,859
  • Apr 19, 2011 7:41am Apr 19, 2011 7:41am
Quoting redbeben
ok the pullback took place now I think that in the next 3 hours we'll brake the cloud in that area I was talking about.

long now,next target 1.633 then pull back again to 1.628X

good luck...I guess 1.633X will be touched at london close
hello
i have my finger above left mouse button to open the buy position ....
but im not very sure
90% of traders use TA, indicators and prediction
  • #276,860
  • Apr 19, 2011 7:41am Apr 19, 2011 7:41am
Quoting redbeben
ok the pullback took place now I think that in the next 3 hours we'll brake the cloud in that area I was talking about.

long now,next target 1.633 then pull back again to 1.628X

good luck...I guess 1.633X will be touched at london close

why do you think 1.633x at the end of the day?
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