Dislikedmomentum is to the upside. If you want to train, train to trade with the momentum. The nearest resistance is @6515Ignored
Cable Update (GBPUSD)
- #277,082
- Apr 21, 2011 2:24am Apr 21, 2011 2:24am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #277,083
- Apr 21, 2011 2:27am Apr 21, 2011 2:27am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
I try my analysis looking at 5 min to determine any short term movement, I'd say it's quite dangerous during this condition. Thank you for your advice. Now I'll stick back to the current trend.
Not trying to dictate how you trade, sorry if I sounded like I did but thought it's worth the mention since this upmove is coming on a back of an important level breakout & since it's been trending nicely since yesterday even a small risk scalp imo is not even worth considering.
Scalp when the market is consolidating or when it's sleepy, not at london open.
Just a thought.
Good luck to you
Thank You 
- #277,084
- Apr 21, 2011 2:30am Apr 21, 2011 2:30am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
afternoon
yup, previous price been capped at that level quite a few times it's safe to assume so imo
tks
while writing we are eating bear's hamburger
90% of traders use TA, indicators and prediction
- #277,085
- Apr 21, 2011 2:34am Apr 21, 2011 2:34am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
not at london open.
Just a thought.
Good luck to you
Gone to a better place
- #277,086
- Apr 21, 2011 2:34am Apr 21, 2011 2:34am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
Heights of 6480!!!hmmm... Where are the bears?... would love them now... had made a few unluncky decision with SL recently...want a recovery. lol
Experts and the experienced help much appreciated.
MKP
seriously... look at posts here. all in buy side
90% of traders use TA, indicators and prediction
- #277,087
- Apr 21, 2011 2:39am Apr 21, 2011 2:39am
You're welcome.
Not trying to dictate how you trade, sorry if I sounded like I did but thought it's worth the mention since this upmove is coming on a back of an important level breakout & since it's been trending nicely since yesterday even a small risk scalp imo is not even worth considering.
Scalp when the market is consolidating or when it's sleepy, not at london open.
Just a thought.
Good luck to you
- #277,089
- Apr 21, 2011 2:44am Apr 21, 2011 2:44am
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
the bear is busy at moment
seriously... look at posts here. all in buy side
- #277,090
- Apr 21, 2011 2:49am Apr 21, 2011 2:49am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
Now that you mention it, I just realize that I have stepped in during London. I think that your opinion is okay. I treat other trader's opinion as an advice since sometimes I tend to do reckless things and this market is full of madness since yesterday without any serious pullbacks so I think I'll wait for GBP news because it's quite too late to place any new position. I wish you good luck too
i find very useful this on m1 n m5 added to main study
i look mostly at MACD and SMA's
have a look when you can.
if someone has something to add, is welcome
90% of traders use TA, indicators and prediction
- #277,091
- Apr 21, 2011 2:51am Apr 21, 2011 2:51am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
tks
while writing we are eating bear's hamburger
Thank You
- #277,092
- Apr 21, 2011 2:52am Apr 21, 2011 2:52am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Wow. Good advice. We're amongst friends.
Thank You
- #277,093
- Apr 21, 2011 2:55am Apr 21, 2011 2:55am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
thought we were longtime friends mike
Just a favour, though - could you slow down cable a fraction, it's messing with my EUR/GBP longs... 
Gone to a better place
- #277,095
- Apr 21, 2011 3:00am Apr 21, 2011 3:00am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
momentum is to the upside. If you want to train, train to trade with the momentum. The nearest resistance is @6515
This goes, then it's 6560. I'm done for the day.
Best way to start a day, is to end it quickly
Good luck to all
Thank You
- #277,096
- Apr 21, 2011 3:02am Apr 21, 2011 3:02am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
We certainly are.
Okay brother, I do this favour this one time for you. But you owe me lunch
Thank You
- #277,098
- Apr 21, 2011 3:09am Apr 21, 2011 3:09am
- Joined Sep 2006 | Status: Oh yeahhh :) | 1,409 Posts
- #277,099
- Apr 21, 2011 3:11am Apr 21, 2011 3:11am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
so what are the realistic guesses for drop back to 1.63x levels??
hope not in 2 years time
it all depends on the next news
and I doubt the news will bring any good news for the GBP.
I expect it to retrace e a bit.
I need it to go strong again starting tmr and monday.
but we'll see.anyway both GBP and EUR are overbought now