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Cable Update (GBPUSD)

  • #277,401
  • Apr 26, 2011 12:54am Apr 26, 2011 12:54am
morning traders.

asia tonight will tell if we go to 1.628 first and then 1.618

we have between 16-28 hours for this
  • #277,402
  • Apr 26, 2011 1:08am Apr 26, 2011 1:08am
No Real opportunities for me this morning. Only in a small schalp for a sell. I dont feel that there will be any big moves today and that is why i am in no big trade. But that is only my system telling me that and stick to your system. Im new to this forum and not new to trading and i see allot of funny things people post. I have dowloaded something the other night from forexfactory and it was a great read. I dont know who post it but to all people who are not realy sucsessfull yet in trading i advice you to go read it. I dont want to post it here because i dont know if i may post someone elses stuff. But you can go search it. It is called 5 steps and it is a pdf file.

Happy Pipping
  • #277,403
  • Apr 26, 2011 1:10am Apr 26, 2011 1:10am
hi to all.
i have went in for a sell now on the gu as it is dropping got in at 1.6451.
hopefully make 40 points . what do you think?
  • #277,404
  • Apr 26, 2011 1:20am Apr 26, 2011 1:20am
Quoting wiz001
hi to all.
i have went in for a sell now on the gu as it is dropping got in at 1.6451.
hopefully make 40 points . what do you think?
Good day to you,

You have sold right on an area of support .

Not ideal

Regards
  • #277,405
  • Apr 26, 2011 1:22am Apr 26, 2011 1:22am
Going short for the next few hours
  • #277,406
  • Apr 26, 2011 1:30am Apr 26, 2011 1:30am
Quoting Wulfgar
Good day to you too

That is more or less exactly how I trade.. the new channel the GU is trying to make thus far is going from 6426 to 6596 area

in a perfect world I would be able to watch price action when the 6426 is tested and play the bounce in real time. But its not guaranteed ill be around when this happens so I must use a little larger SL than I would typically


Fundamentally both Britain and the US are in dire straits but the USD is facing the very real threat of losing its status as a reserve currency as well as the possibility of...
Good day,

Looks like we have missed the train by a few...

Oh well.

Regards
  • #277,407
  • Apr 26, 2011 1:36am Apr 26, 2011 1:36am
Quoting PoundTrader
yes, im short 1.6523 with t/p at 1.6287
  • #277,408
  • Apr 26, 2011 1:43am Apr 26, 2011 1:43am
Quoting PoundTrader
DOH!!!

Im not looking to short this pair until we get a retest of the 6596 level

who knows though? this week may be extremely volitle cause of bennys speech wednesday
  • #277,409
  • Apr 26, 2011 1:44am Apr 26, 2011 1:44am
Quoting Wulfgar
DOH!!!

Im not looking to short this pair until we get a retest of the 6596 level

who knows though? this week may be extremely volitle cause of bennys speech wednesday
  • #277,410
  • Apr 26, 2011 1:45am Apr 26, 2011 1:45am
sort.. sort... sort... please....
up.. up.. up... hughhhh...
  • #277,411
  • Apr 26, 2011 1:46am Apr 26, 2011 1:46am
im still on bull side....
90% of traders use TA, indicators and prediction
  • #277,412
  • Apr 26, 2011 1:53am Apr 26, 2011 1:53am
Quoting untusoft
sort.. sort... sort... please....
up.. up.. up... hughhhh...
you crazy
  • #277,413
  • Apr 26, 2011 1:56am Apr 26, 2011 1:56am
Quoting _BBKing_
im still on bull side....

Same bro, def not gona short here, especially since intraday theres a huge support where we were just at.

On my graph theres a huge amount of background buying at 0:00, followed by a 'gotcha' bar straight after luring people in. I bought in with a micro lot at the demand zone to test it, I can see this going back down too the xxx30-25 level before popping but up. More than likely however, it will be run up in the London session.
Attached Image (click to enlarge)
Click to Enlarge Name: buy.gif Size: 36 KB
  • #277,414
  • Apr 26, 2011 2:21am Apr 26, 2011 2:21am
Quote
We are still in an uptrend scenario on GU and this has not changed for me. Although weak. I did expect a slightly higher run up yesterday than the 1.6542.

I expect another pullback up to come. Can be in the area we are now or slightly lower. Not sure. I am looking to sell - but not from here. Currently looking @ 1.6540-1.6550 region. I may attempt a long from 1.6430 - 1.6420 if all alligned still.

All the best

The rest of the day is probably gonna be spent working back to 1.6540 - 1.6550. I'm out and will sell at the mentioned level if all in place. Missed the long. Nothing for me here till later.

Regards and trade well
  • #277,415
  • Apr 26, 2011 2:42am Apr 26, 2011 2:42am
Good morning:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110426d1.gif Size: 27 KB


Looking good for longs. I might take a long at a close above 1.6510 (The daily high)
Gone to a better place
  • #277,416
  • Apr 26, 2011 2:46am Apr 26, 2011 2:46am
I'm gonna be selling around 1.652 level

TP 1 1.647 tp 2 1.643 tp3 1.639X

and later we will go boom.I mean if we go under this level of 1.6380
  • #277,417
  • Apr 26, 2011 2:52am Apr 26, 2011 2:52am
The current pullback Lo and current daily lo (6438) didn't quite touch the 1st previous 4hr/daily swing hi zone (previopus resistancew = potential support) stopping at the 23.6% 5935-6599 /76.4% 6386-6599 fibs. Smart recovery from there has seen price rise to 6518 correct at time of writing.

Current near-term 1hr screenshot below shows the potential upside obstacles to price as well as where previous resistance may act as supp;ort if tested.

Price is currently testing a fib cluster/descending trend line on this 1hr t/f with a strong bid tone since London open.

G/L

http://i54.tinypic.com/2qs867m.jpg
ex member
  • #277,418
  • Apr 26, 2011 2:52am Apr 26, 2011 2:52am
I sold at 1.6519 with tp 1.648X-9 as a scalp
  • #277,419
  • Apr 26, 2011 3:11am Apr 26, 2011 3:11am
On the 1hr price has made a H after a LL above the last 2 x LH's...this is a bullish indication and suggests more upside is the greater probability (pullbacks not withstanding.) Plenty of upside obstacles of courseand price on this 1hr t/f althougfh bullish in tone right now is in an opa (overall price action) range now.

Will the greater probability play out ? Time will tell - none of us know till then.

G/L
Attached Image
ex member
  • #277,420
  • Apr 26, 2011 3:41am Apr 26, 2011 3:41am
Quoting redbeben
I'm gonna be selling around 1.652 level

TP 1 1.647 tp 2 1.643 tp3 1.639X

and later we will go boom.I mean if we go under this level of 1.6380
now I can issue a Time span more or less accurate

45min -1 h we should cross the 1.6485 level and if this happens we go down to 1.633X level



I will wait and see as for today no more time to watch the charts.so damn busy in the office
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