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Cable Update (GBPUSD)

  • #279,381
  • May 17, 2011 3:30pm May 17, 2011 3:30pm
Quoting _BBKing_
i think we go up from here.
unless closes below 6230
will short if that happen

Whats up BB,

Exact same level ;/ You read my mind bro. Well I have 62317 but w/e. I'm thinking close above it, spike below to fill smart money orders then up.Take a long on this and a short on uc
  • #279,382
  • May 17, 2011 3:50pm May 17, 2011 3:50pm
Seems to be pretty bullish right now IMHO

Bouncing off the 5 SMA on the 15min chart at the very least taking a breather before testing 6270 and beyond. If there were many bears around we would have been below 6230 long ago.
  • #279,383
  • May 17, 2011 3:58pm May 17, 2011 3:58pm
I'm going to post a chart.
Gone to a better place
  • #279,384
  • May 17, 2011 4:08pm May 17, 2011 4:08pm
I'm not saying it won't work, but if you guys are considering longs then you should look at this chart.

We are in a strong down trend. The price has rejected 1.63 today and also the resistance level marked with a grey box. Have a look at your charts for 3rd March and 17th february too.

Earlier, I posted that we are at a good support level and this might be a good area to start building longs. I have not acted on this. Today, I shorted USD/CHF off the consolidation at .8851.

Anyway, here's the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110517h4.gif Size: 34 KB
Gone to a better place
  • #279,385
  • May 17, 2011 4:09pm May 17, 2011 4:09pm
All I'm saying is be careful. Good luck.
Gone to a better place
  • #279,386
  • May 17, 2011 5:04pm May 17, 2011 5:04pm
Quoting smikester
I'm not saying it won't work, but if you guys are considering longs then you should look at this chart.

We are in a strong down trend. The price has rejected 1.63 today and also the resistance level marked with a grey box. Have a look at your charts for 3rd March and 17th february too.

Earlier, I posted that we are at a good support level and this might be a good area to start building longs. I have not acted on this. Today, I shorted USD/CHF off the consolidation at .8851.

Anyway, here's the chart:

Attachment
hello,
im in a bit doubt, coz i see a bearish flag in h4, and still downtrend completely into h1+h4 channel downward.
any way, i also see good reaction from lows in m15 m30

im waitin it to print below 6230 or above 6300.
this 6250 - 6300 range not convincig at all.
im 60% favour for long n 40% for short.

finally, i think near 6080 6060 will be huge bulls waiting.
a touch there will be good pullback
90% of traders use TA, indicators and prediction
  • #279,387
  • May 17, 2011 5:06pm May 17, 2011 5:06pm
I think is already uptrend mode now since yesterday has been closed above the daily pivot area....correct me if i am wrong...
"sharing knowledge make us more rich"
  • #279,388
  • May 17, 2011 5:11pm May 17, 2011 5:11pm
Quoting _BBKing_
hello,
im in a bit doubt, coz i see a bearish flag in h4, and still downtrend completely into h1+h4 channel downward.
any way, i also see good reaction from lows in m15 m30

im waitin it to print below 6230 or above 6300.
this 6250 - 6300 range not convincig at all.
im 60% favour for long n 40% for short.

finally, i think near 6080 6060 will be huge bulls waiting.
a touch there will be good pullback
Sounds like you got it in order. I'll just carry on trading the London break out if it looks good.
Gone to a better place
  • #279,389
  • May 17, 2011 5:12pm May 17, 2011 5:12pm
Quoting _BBKing_
hello,
im in a bit doubt, coz i see a bearish flag in h4, and still downtrend completely into h1+h4 channel downward.
any way, i also see good reaction from lows in m15 m30

im waitin it to print below 6230 or above 6300.
this 6250 - 6300 range not convincig at all.
im 60% favour for long n 40% for short.

finally, i think near 6080 6060 will be huge bulls waiting.
a touch there will be good pullback
Guys I am preparing for 4.30 am announcements. I have two pending orders Buy Stop at 1.6300 TP 1.6390 and Sell Stop at 1.6200 TP 1.6075. What do you say?
  • #279,390
  • May 17, 2011 5:30pm May 17, 2011 5:30pm
Quoting behman8850
Guys I am preparing for 4.30 am announcements. I have two pending orders Buy Stop at 1.6300 TP 1.6390 and Sell Stop at 1.6200 TP 1.6075. What do you say?
i think those looks good levels but a bit too early to think about 10 hours later ...
90% of traders use TA, indicators and prediction
  • #279,391
  • May 17, 2011 6:15pm May 17, 2011 6:15pm
Quoting _BBKing_
i think those looks good levels but a bit too early to think about 10 hours later ...
Have you noticed that wick on top of Hr 4 Candle? I think the next candle will be a red one , the present one! Whats your opinion?
  • #279,392
  • May 18, 2011 1:08am May 18, 2011 1:08am
Good day, still not clear direction for now. Bulls want to push it up but bears are still fighting. No winner yet although bulls are better for the moment.
  • #279,393
  • May 18, 2011 1:24am May 18, 2011 1:24am
Quoting 0rPhioZ
Good day, still not clear direction for now. Bulls want to push it up but bears are still fighting. No winner yet although bulls are better for the moment.
Hello, I think yesterday bulls showed how strong they are didn't let to take GU down during US session. I'm now wait for opportunity to buy around 1.6190 level.
  • #279,394
  • May 18, 2011 1:29am May 18, 2011 1:29am
Quoting behman8850
Guys I am preparing for 4.30 am announcements. I have two pending orders Buy Stop at 1.6300 TP 1.6390 and Sell Stop at 1.6200 TP 1.6075. What do you say?
Move the buy stop 5 pips higher, 1.63's a good resistance, you could easily see the order get spiked then jump off a cliff .


Morning guys btw.
  • #279,395
  • May 18, 2011 1:30am May 18, 2011 1:30am
hello...i think put pending sell order @ 1.6310 and TP @ 1.6250
"sharing knowledge make us more rich"
  • #279,396
  • May 18, 2011 1:43am May 18, 2011 1:43am
Quoting smikester
I'm going to post a chart.
I took that UC short too missed my second tp but managed to get all out arounf 8000 . Waiting for a second test now and then back on to shorts and back onto AU and GU longs.
Attached Image (click to enlarge)
Click to Enlarge Name: buy.gif Size: 107 KB
  • #279,397
  • May 18, 2011 1:51am May 18, 2011 1:51am
Quoting Shadip
Move the buy stop 5 pips higher, 1.63's a good resistance, you could easily see the order get spiked then jump off a cliff .


Morning guys btw.
why you are buying at the sell level? buy low near 6230 area and trail over 63
  • #279,398
  • May 18, 2011 1:55am May 18, 2011 1:55am
Quoting mdrive
why you are buying at the sell level? buy low near 6230 area and trail over 63
I'm not.

However it seems like this guy is a b/o trader and a close above h1/higher 63008 would warrent one. I would do it manually however.

I broke up my longs at 270. Waiting for a retest of demand.
  • #279,399
  • May 18, 2011 2:25am May 18, 2011 2:25am
Good morning. I would only take GBP/USD short today, off the low, and USD/CHF long. It's sitting on strong support. That's just me.
Gone to a better place
  • #279,400
  • May 18, 2011 2:32am May 18, 2011 2:32am
Quoting smikester
Good morning. I would only take GBP/USD short today, off the low, and USD/CHF long. It's sitting on strong support. That's just me.
it is a good starategy for today as well. i think after the gbp news it will fly high and come down quickly too, you might want to sell over 63 level and close before US session.
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