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Cable Update (GBPUSD)

  • #277,121
  • Apr 21, 2011 4:01am Apr 21, 2011 4:01am
Quoting redbeben
by the way GJ is about to make a big move to 140.10 if we brake the 136.48 in the next 30-40 hours
Long from 135.20 on the Bull flag breakout from the 1Hr charts

took a little off at 135.80.... I am thinking along the same lines as you for a move over the 140.10


I am not really position trading yen pairs currently as the situation in japan remains so fluid as to what will be the economic outcome from the recent disaster. intraday and swing trading seems more profitable right now
  • #277,122
  • Apr 21, 2011 4:01am Apr 21, 2011 4:01am
Quoting redbeben
by the way GJ is about to make a big move to 140.10 if we brake the 136.48 in the next 30-40 hours
Hey Red just incase you wern't/arn't watching, the Gipp just spiked the neck of the cup and handle resistance (Y) 136.48 is deffo on the cards imo.

Sorry to intrude guys.
  • #277,123
  • Apr 21, 2011 4:02am Apr 21, 2011 4:02am
Quoting bbmac
Will we see some profit take ahead of the B/H's ?

G/L
Good morning BBMac. I always look out for your posts. What you suggest is a possibility, maybe even likely. It's always a quandary when we see profits slipping away. I see only thin trading tomorrow and Monday.

For those in for the long haul, it's worth noting the weekly sma(200) is at 1.7 currently. We just had some good news releases and we are moving into open spaces (i.e. resistance levels weaker) above 1.64 after some weeks in consolidation. Consolidation provides good support. Add to all this a weak dollar with no sign of a change in the near future. As Wormboy says, this could go to 1.7. I have a few longs with tight (ish) trailing stops, but some I'll be keeping into the summer, I hope. Good trading to you all
Gone to a better place
  • #277,124
  • Apr 21, 2011 4:05am Apr 21, 2011 4:05am
Quoting _BBKing_
good!
a question: why you didn't buy this thing? look the rocket!
always thought of buying at pullback thats why i missed this train
  • #277,125
  • Apr 21, 2011 4:11am Apr 21, 2011 4:11am
I'm out, guys. I already get my target for today. Wish you all luck with the bulls.
  • #277,126
  • Apr 21, 2011 4:14am Apr 21, 2011 4:14am
Quoting bbmac
Does anyone see any other potential resistance factors above current price other than those I have mentioned below ?

Thanks

G/L
hello
i dont know if my way is correct.
i zoom in weekly n monthly charts.
and i write down at least 2peaks:

6550 weekly ema200
6576 monthly peaks (very old)
6600 weekly peaks
6620 weekly peaks
6630 monthly sma200
6660 weekly peaks

if we eat the 6550 now for this week 6600-6630 wud be good resistance area 4me

i do this job also on daily charts n h4 to find out old peaks n bottoms
till now worked out good
90% of traders use TA, indicators and prediction
  • #277,127
  • Apr 21, 2011 4:17am Apr 21, 2011 4:17am
Quoting PoundTrader
yep back long again at 1.6402, s/l 1.6334, t/p 1.6495
what the hell is going on
  • #277,128
  • Apr 21, 2011 4:18am Apr 21, 2011 4:18am
Thanks for the replys to my earlier question....just taken profit at Daily R3 after the bull thrust (momentum) b/o candle trigger (reaction to uk data) - a perfect bull thrust (momentum candle) no wicks-entry on close - b/o of the previous daily hi...

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 0930 1min bull thrust b.o.jpg Size: 84 KB
ex member
  • #277,129
  • Apr 21, 2011 4:23am Apr 21, 2011 4:23am
Generally, the more extended the price becomes from it's averages, the greater the probability of a pullback, currently re daily average pip range, today price is at 150%...Daily R3 therefore seemed a good enough place to take profit re my style ofof trading (I am intraday - rarely hold overnight.)

Done for the day/week and B/H's - back Tuesday.

G/L all.
ex member
  • #277,130
  • Apr 21, 2011 4:24am Apr 21, 2011 4:24am
Quoting wormboy
There it 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
6560, done.
Pattern completion & i/d trend is currently above the 7 hour mark. Buying now is a bit risky, unless you are planning to hold for another 200 -300 pips of course.

Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1h.gif Size: 7 KB
Click to Enlarge Name: gu1ha.gif Size: 9 KB
Thank You
  • #277,131
  • Apr 21, 2011 4:27am Apr 21, 2011 4:27am
yep the day ended quickly for me now im bored
  • #277,132
  • Apr 21, 2011 4:27am Apr 21, 2011 4:27am
Hi all,
looking at GU chart daily tf, my mind recalls the words of Tom Williams - "weakness is seen on UP BARS (BULLISH CANDLES)".

I just sold GU @ 1.6558 SL 1.6675 TP1 1.6427 TP2 OPEN

See chart attached.
Happy trading!
Meshach.
Attached Image (click to enlarge)
Click to Enlarge Name: weakness_gu.gif Size: 22 KB
  • #277,133
  • Apr 21, 2011 4:42am Apr 21, 2011 4:42am
I have a fib expansion level at 1.6586. Further horizontal resistance at 1.6720.
Gone to a better place
  • #277,134
  • Apr 21, 2011 4:47am Apr 21, 2011 4:47am
Quoting smikester
I have a fib expansion level at 1.6586. Further horizontal resistance at 1.6720.

sorry ... how we calculate fib expansion? :nerd:
90% of traders use TA, indicators and prediction
  • #277,135
  • Apr 21, 2011 4:49am Apr 21, 2011 4:49am
However, I'm bowing to the experienced traders' opinions here and closing my more recent longs. It's been an interesting week.
Gone to a better place
  • #277,136
  • Apr 21, 2011 4:50am Apr 21, 2011 4:50am
Quoting bbmac
Does anyone see any other potential resistance factors above current price other than those I have mentioned below ?

Thanks

G/L
i see stronger s/r around 1.7 level (around 1.69-1.7050)
yesterday was good, today is the best, tomorrow is amazing.....
  • #277,137
  • Apr 21, 2011 4:50am Apr 21, 2011 4:50am
Quoting forexcompoun
Hi all,
....... my mind recalls the words of Tom Williams - "weakness is seen on UP BARS (BULLISH CANDLES)".

......

sorry, what should it mean?
isn't it better wait day ends or at least NY session start before the short way?
90% of traders use TA, indicators and prediction
  • #277,138
  • Apr 21, 2011 4:52am Apr 21, 2011 4:52am
Quoting bbmac
Thanks for the replys to my earlier question....just taken profit at Daily R3 after the bull thrust (momentum) b/o candle trigger (reaction to uk data) - a perfect bull thrust (momentum candle) no wicks-entry on close - b/o of the previous daily hi...

G/L
have a good weekend bbmac
tks for your posting, i find it very useful

i still got a lot to learn from you and from many others here!
90% of traders use TA, indicators and prediction
  • #277,139
  • Apr 21, 2011 4:59am Apr 21, 2011 4:59am
Quoting _BBKing_
sorry, what should it mean?
isn't it better wait day ends or at least NY session start before the short way?

Let's allow time tell the story. At the end of this day do note where price would be.
Happy trading!
Meshach
  • #277,140
  • Apr 21, 2011 4:59am Apr 21, 2011 4:59am
Quoting _BBKing_
sorry ... how we calculate fib expansion? :nerd:
Well, this is one view. (Click 2 - 3 times to get clearer picture)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110421d1.gif Size: 24 KB
Gone to a better place
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