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Cable Update (GBPUSD)

  • #279,621
  • May 19, 2011 8:44am May 19, 2011 8:44am
hello seniors,
i have been monitoring this thread for a while now and i find it somehow useful....i hope i,m welcome here...by the way i,m always anxious to see the thread by redb.b, b.bking....very enlightening keep up the good work........
  • #279,622
  • May 19, 2011 8:58am May 19, 2011 8:58am
Quoting wormboy
Look again
HTF is boss.
wormboy, if you care to read my last post you will see that I completely agree that we're in a longer term downtrend. A glance at any good chart with sma will confirm that. However, you also get short term up/down trends within longer term trends which we have to take notice of unless of course you don't mind big draw down!!!

rgds
  • #279,623
  • May 19, 2011 9:11am May 19, 2011 9:11am
Quoting jmtini
wormboy, if you care to read my last post you will see that I completely agree that we're in a longer term downtrend. A glance at any good chart with sma will confirm that. However, you also get short term up/down trends within longer term trends which we have to take notice of unless of course you don't mind big draw down!!!

rgds
What drawdown? 79 pips daily range so far, it had been a tight non trending day.
Thank You
  • #279,624
  • May 19, 2011 9:24am May 19, 2011 9:24am
Quoting jmtini
wormboy, if you care to read my last post you will see that I completely agree that we're in a longer term downtrend. A glance at any good chart with sma will confirm that. However, you also get short term up/down trends within longer term trends which we have to take notice of unless of course you don't mind big draw down!!!

rgds
Look at the daily chart...we've been rising all year since we hit 1.541 on 7th Jan. We have been bouncing around the top and bottom of a rising channel...lower TL between low on 25th Jan and yesterday's low...upper TL between hi on 3rd Feb, 2nd March, 5th May.

We've popped out of it once to the upside at the end of April and have been beaten down since then. Currently sitting just above the lower trend line which is pretty much where the 100ma is lurking. These are just a couple of reasons why I'm not looking to short this thing just yet.
  • #279,625
  • May 19, 2011 9:29am May 19, 2011 9:29am
GU failed to break low today
what has become a strong support to back rally
only an analysis, and I'm always wrong, don't follow me,
  • #279,626
  • May 19, 2011 10:07am May 19, 2011 10:07am
Good day to you all,

Back from my trip up the coast...and we have gone nowhere. None of my buy limits were triggered.

I am closing my little long from 1.6147 and will study a bit to see what's up (or down)

I STILL expect a better attempt higher first .

All the best
  • #279,627
  • May 19, 2011 10:17am May 19, 2011 10:17am
Quoting gsantri
My view from divergence perspective.

Hopefully can help

90% of traders use TA, indicators and prediction
  • #279,628
  • May 19, 2011 10:28am May 19, 2011 10:28am
hello all
got a busy day away from my office.
today was a scalping day in a nice range

retail sales was good but was referring to wedding's month so price went not so much up as we could have expected.

here is m5 chart
next time price will range in this fu**ing way, will be helpful to trade with buy stops n sell stops for get good pips

trend is down but as said by every one today we are in or very near to a strong support area.
for med term trades i would wait to go test the h1+h4 channel
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm5.jpg Size: 97 KB
90% of traders use TA, indicators and prediction
  • #279,629
  • May 19, 2011 10:30am May 19, 2011 10:30am
no direction todau for cable...

see u tommorow..
Peace Yo!
  • #279,630
  • May 19, 2011 10:40am May 19, 2011 10:40am
in h1 + h4 price going again in flag.

as it is a bearish flag, better expect a breake down at least until 6110
but whole this area is a support area so better only get fast pips imo.

last thing i notice is that down trend looks like tired, bulls are reacting stronger the more down we go.

soon we will breake h4 channel for a correction up.
time will tell
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 24 KB
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  • #279,631
  • May 19, 2011 10:41am May 19, 2011 10:41am
hi there can you help me , i'm now confuse with gbp usd movement . now i'm down 30 % of my equity . and just now my pending order has triggered 3 standard lot buy GBP @ 16180
any suggestion on my position ?
Just Newbie Need Guidance From The Expert
  • #279,632
  • May 19, 2011 10:43am May 19, 2011 10:43am
Quoting wormboy
Look again
HTF is boss.

confirmed as resistance!
90% of traders use TA, indicators and prediction
  • #279,633
  • May 19, 2011 10:43am May 19, 2011 10:43am
Quoting wormboy
What drawdown? 79 pips daily range so far, it had been a tight non trending day.

You must be trading mini lots is all I can think! If someone is short at 6150 they are stopped out - are you crazy mate????

rgds
  • #279,634
  • May 19, 2011 10:52am May 19, 2011 10:52am
Quoting NoviceInd
hi there can you help me , i'm now confuse with gbp usd movement . now i'm down 30 % of my equity . and just now my pending order has triggered 3 standard lot buy GBP @ 16180
any suggestion on my position ?
hello
im not so much expert but you bought very closed to daily higher price.
not such a good entry for a 3lot position
if im in you i close as soon as it goes in 0 and wait a better entry
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  • #279,635
  • May 19, 2011 10:56am May 19, 2011 10:56am
Quoting jmtini
You must be trading mini lots is all I can think! If someone is short at 6150 they are stopped out - are you crazy mate????

rgds
heh .. if you say so.
Thank You
  • #279,636
  • May 19, 2011 10:56am May 19, 2011 10:56am
ok then i'll closed near 0 hopefully its goes near there
Just Newbie Need Guidance From The Expert
  • #279,637
  • May 19, 2011 10:58am May 19, 2011 10:58am
Quoting wormboy
heh .. if you say so.
good day to you, Wormie



Regards
  • #279,638
  • May 19, 2011 11:02am May 19, 2011 11:02am
Quoting wormboy
heh .. if you say so.
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  • #279,639
  • May 19, 2011 11:02am May 19, 2011 11:02am
Quoting TauTrader
good day to you, Wormie



Regards

Hello Tau, how's it going brother
So when are you going to drop by the hole ..
Thank You
  • #279,640
  • May 19, 2011 11:09am May 19, 2011 11:09am
a candle closing above 74.6 and resistance line would mean more up...
lets see
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm5.gif Size: 32 KB
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