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Cable Update (GBPUSD)

  • #279,401
  • May 18, 2011 2:35am May 18, 2011 2:35am
GBP/USD. Shorts not looking great especially before the news but this chart shows a break of the D1 trend line and a test.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110518d1.gif Size: 31 KB
Gone to a better place
  • #279,402
  • May 18, 2011 2:47am May 18, 2011 2:47am
Quoting smikester
GBP/USD. Shorts not looking great especially before the news but this chart shows a break of the D1 trend line and a test.Attachment

now is tryin to loose the 6230
i add sell stops 6180
90% of traders use TA, indicators and prediction
  • #279,403
  • May 18, 2011 2:48am May 18, 2011 2:48am
Quoting josef
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.
Right, now we still have to sit down till it breaks the range. For now no position for me because it sits in the middle, very risky.
  • #279,404
  • May 18, 2011 2:53am May 18, 2011 2:53am
Quoting 0rPhioZ
Right, now we still have to sit down till it breaks the range. For now no position for me because it sits in the middle, very risky.
same for me
  • #279,405
  • May 18, 2011 2:57am May 18, 2011 2:57am
G/M

Price testing below asian session lo now as I type this following the sell-off from current daily hi - 6287...Yesterday's pullback lo came at the 76.4% of 6147-6301 (yesterday's Hi) and saw a pullback to today's current daily hi mentioned above.

Event Risk: Uk Boe/Mpc minutes and employment data @ 0930am Uk time (= gmt+1.) Unlikely any change in the 3-0-6 vote but greater probability is for some knee-jerk £ strength on any 4-0-5 or 3-1-5 or above and conversely knee-jerk weakness on any 2-0-7 or 2-1-6 vote. The un-emp numbers could also see a market reaction effect, and the 2 data releases together could be difficult to asssess the greater probability in advance so will see what occurs and act accordingly (or not - depends what sets-up.)

G/L
ex member
  • #279,406
  • May 18, 2011 2:58am May 18, 2011 2:58am
closed half shorts 6230
now i wait
90% of traders use TA, indicators and prediction
  • #279,407
  • May 18, 2011 3:02am May 18, 2011 3:02am
hi,

based on Gann sq root 9 calculation, i found out that 15950 might be the last stop for down trend....

calculation: 16767 down by 180 degree (-1) = 15951.

just my 2 cent....


rite now... still waiting my TP to be hit....

regards,
Peace Yo!
  • #279,408
  • May 18, 2011 3:03am May 18, 2011 3:03am
Some consolidation going on on 1hr/4hr t/f's currently?...right now 61.8% of yesdterday's 6184 pullback lo - today's current daily hi 6287 being tested in the fall from 6287.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 102 KB
ex member
  • #279,409
  • May 18, 2011 3:04am May 18, 2011 3:04am
key for more downside moves OBV !

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 44 KB
Hero calls followed by margin calls...
  • #279,410
  • May 18, 2011 3:04am May 18, 2011 3:04am
The 1hr screenshot in my last post above shows the previuous 1hr and 1hr/4hr swing lo zones below current price....ie there has definately been some demand down there...will there be again ?

Time will tell....looking a bit bearish atm.

G/L
ex member
  • #279,411
  • May 18, 2011 3:05am May 18, 2011 3:05am
Quoting smikester
GBP/USD. Shorts not looking great especially before the news
Shoulda kept my mouth shut.
Gone to a better place
  • #279,412
  • May 18, 2011 3:20am May 18, 2011 3:20am
Flag:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110518h4.gif Size: 35 KB
Gone to a better place
  • #279,413
  • May 18, 2011 3:24am May 18, 2011 3:24am
Quoting bbmac
The 1hr screenshot in my last post above shows the previuous 1hr and 1hr/4hr swing lo zones below current price....ie there has definately been some demand down there...will there be again ?

Time will tell....looking a bit bearish atm.

G/L
well we have around 9-11 failed wicks at this demand area. we will see a correction there in about 9 out of 10 cases IMHO.
Hero calls followed by margin calls...
  • #279,414
  • May 18, 2011 3:29am May 18, 2011 3:29am
Quoting PhAnTi'
well we have around 9-11 failed wicks at this demand area. we will see a correction there in about 9 out of 10 cases IMHO.
I don't understand. By failed wicks do you mean they failed to follow with a bullish move? And now do you say this is a strong support area or a weak one? Thanks.
Gone to a better place
  • #279,415
  • May 18, 2011 3:32am May 18, 2011 3:32am
this could be the fastest down-up move i ever seen
strong demand near 6190.
90% of traders use TA, indicators and prediction
  • #279,416
  • May 18, 2011 3:38am May 18, 2011 3:38am
Quoting smikester
Flag:

Attachment
Agree that we have a flag here.
  • #279,417
  • May 18, 2011 3:38am May 18, 2011 3:38am
my luck i had half short going with trailing stop
now if we go up from here is 6360 for me
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.gif Size: 23 KB
90% of traders use TA, indicators and prediction
  • #279,418
  • May 18, 2011 3:42am May 18, 2011 3:42am
Quoting smikester
I don't understand. By failed wicks do you mean they failed to follow with a bullish move? And now do you say this is a strong support area or a weak one? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 44 KB




as u can see in the circled area we had around 10 pins that couldnt close below or even in this box.
Means that between 6186 and ~ 6200 buyers overexceeded sellers and price reversed.

compared with current low we couldnt approach this level again.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.gif Size: 46 KB




so thats a easy buy for me at the certain area with stops below 6186
Hero calls followed by margin calls...
  • #279,419
  • May 18, 2011 3:43am May 18, 2011 3:43am
3-0-6 and n/c those minutes..mixed data then all in all, but demand at the area noted kicked in, possibly too market reacted to drop in un-employment rate to 7.7% whereas rise to 7.9% from 7.8% was forecast? Big rise too in av hourly earnings to 2.3%

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 98 KB
ex member
  • #279,420
  • May 18, 2011 3:43am May 18, 2011 3:43am
Quoting Shadip
Low volume test, smaller tf trendline test, in demand. Background buying, currently in oversold conditions.Only buying.

Same as yesterday, for me
Attached Image (click to enlarge)
Click to Enlarge Name: buy.gif Size: 97 KB
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