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Cable Update (GBPUSD)

  • #280,261
  • May 28, 2011 11:22am May 28, 2011 11:22am
[quote=clc4x;4651229]http://lcchong.files.wordpress.com/2011/05/image40.png

Great blog CLC


You're obviously a pro - hope to learn a bit from you!


Rgds
  • #280,262
  • Edited 12:03pm May 28, 2011 11:53am | Edited 12:03pm
6 consecutive HH and HL's on 1hr - such was the strngth of the uptrend in the 2nd half of last week and a perfect Daily bullish thrust candle results at same time as Weekly closes as a bullish hammer, and the Monthly as an IPB/Hanging man candle - which some may argue is bearish ?...contrasted with the Daily t/f that is looking bullish.

The uptrend is present to the 4hr t/f and on the Daily t/f the Weekly Hi (6509) is @ a HH above last H but so far without a HL. 1hr 100sma has crossed above it's 200sma, but remains below it on 4hr and above it on the daily t/f.

How significant is it that the Daily/Weekly close on Friday was so close to the Daily/Weekly Hi (6512 - last week's Weekly R2 pivot.) ?

How much supply is @ this Daily swing hi zone leading to 6517 swing hi ?

G/L to all those trading next week.
Attached Image
ex member
  • #280,263
  • May 28, 2011 11:57am May 28, 2011 11:57am
Drilling down to 4hr to see what is above current price in respect of potential resistance factors and the 4hr screenshot below details this in respoect of previous 4hr, 4hr/daily and in the case of the previous swing hi zone leading to 6746 a previous 4hr/daily/weekly swing hi zone, unbreeched fibs of the moves down to 6057 from 6746 and 6722, and a 4hr descending trend line. There of course will also be Daily/Weekly and Monthly pivots to plot with the new day/week/month.

Bank Holiday in Uk and U.s on Monday.

G/L
Attached Image (click to enlarge)
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ex member
  • #280,264
  • May 28, 2011 12:14pm May 28, 2011 12:14pm
hello all
i just came in to read some posts...

why the reason people take hard work to find reversal points?
there is a strong uptrend since 61 area or better since breaking of descending channel in h4-d1.
after that time, shorts positions are only for scalpers (max 10-15 pips) and the main work is on longs.
this is true until something changes on fundamentals.
trend is up, until trend is up. doesn't matter resistances, fibos or any other thing that can be broken by trend.
draw resistance lines and see price action/reaction near them.
where price will find strong supply near 7000, you will notice it for sure

have a good week end.
90% of traders use TA, indicators and prediction
  • #280,265
  • May 28, 2011 12:58pm May 28, 2011 12:58pm
[quote=_BBKing_;4651385]hello all
i just came in to read some posts...

why the reason people take hard work to find reversal points?
there is a strong uptrend since 61 area or better since breaking of descending channel in h4-d1.
after that time, shorts positions are only for scalpers (max 10-15 pips) and the main work is on longs.
this is true until something changes on fundamentals.
trend is up, until trend is up. doesn't matter resistances, fibos or any other thing that can be broken by trend.
draw resistance lines and see price action/reaction near them.
where price will find strong supply near 7000, you will notice it for sure



  • #280,266
  • May 28, 2011 1:05pm May 28, 2011 1:05pm
Enjoy your weekend..
Enjoy UEFA champions league final..

go go BARCA ..
  • #280,267
  • Edited 3:38pm May 28, 2011 1:50pm | Edited 3:38pm
Quoting gsantri
Enjoy your weekend..
Enjoy UEFA champions league final..

go go BARCA ..
Hey hey Gsantri I will not tolerate bad language on this forum but I will correct your mistake this time but don't do it again .....

Enjoy your weekend..
Enjoy UEFA champions league final..

go go MAN U ..

EDIT: 1 and a half hour later...... Damn it OK you win.
You've got to be IN IT to WIN IT!
  • #280,268
  • May 28, 2011 3:44pm May 28, 2011 3:44pm
Quoting Ifty
Hey hey Gsantri I will not tolerate bad language on this forum but I will correct your mistake this time but don't do it again .....

Enjoy your weekend..
Enjoy UEFA champions league final..

go go MAN U ..

EDIT: 1 and a half hour later...... Damn it OK you win.
Told ya..
  • #280,269
  • May 28, 2011 6:16pm May 28, 2011 6:16pm
Quoting _BBKing_
hello all
i just came in to read some posts...

why the reason people take hard work to find reversal points?
there is a strong uptrend since 61 area or better since breaking of descending channel in h4-d1.
after that time, shorts positions are only for scalpers (max 10-15 pips) and the main work is on longs.
this is true until something changes on fundamentals.
trend is up, until trend is up. doesn't matter resistances, fibos or any other thing that can be broken by trend.
draw resistance lines and see price action/reaction near them.
where price...
I just downloaded a centre of gravity indicator, could be useful on lower timeframes in confirming buys on dips/sells off support and resistance with the trend on higher timeframe along with candle sticks and even counter trend trades with divergence etc. Have you used this before
Come with me if you want to live....
  • #280,270
  • May 28, 2011 6:20pm May 28, 2011 6:20pm
Quoting HrcTrader
A ...ha..
I'd look for clues to buy either off resistance 1 or pivot point below it
Come with me if you want to live....
  • #280,271
  • May 29, 2011 4:50am May 29, 2011 4:50am
Quoting gsantri
Enjoy your weekend..
Enjoy UEFA champions league final..

go go BARCA ..
and BARCA get the winners of champions ,,
only an analysis, and I'm always wrong, don't follow me,
  • #280,272
  • May 29, 2011 8:00am May 29, 2011 8:00am
Hello Guys..i'll post my remarks about GU movement..hope i get some info from veterans (BBking, bbmac, navin..yours are most valuable..)

On daily i have respectable move up, RSI at 60,242..support.wright?
What confuse me is monthly where we can be at the top..and RSI is pointing down..
I closely watch ma 4h chart..waiting for 80,9% Bobokus FIB to take a position. If 80,9% is broken then more up to go...if holds then reversal signal needs to be confirmed to enter short

tnx in advance

chart..


[IMG]file:///C:/Users/dcacic/AppData/Local/Temp/moz-screenshot-1.png[/IMG]

[IMG]file:///C:/Users/dcacic/AppData/Local/Temp/moz-screenshot.png[/IMG]
Attached Image(s) (click to enlarge)
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  • #280,273
  • May 29, 2011 11:27am May 29, 2011 11:27am
As for me the weekly up trend is strong enough to give us a lot of pips. Before the monthly makes any reversal, weekly and daily will have to complete their patterns first. This is a key. We can grab more pips this week, waiting for these fake news to trigger other set ups. As you know news are discontinued....

walking to profits - nice set ups to come tonight at

http://www.forexfactory.com/showthre...254704&page=30


Attached Image (click to enlarge)
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  • #280,274
  • May 29, 2011 1:23pm May 29, 2011 1:23pm
what was the closing price on cable cause i have 1.6510?? but others have lower??..confused
  • #280,275
  • May 29, 2011 1:33pm May 29, 2011 1:33pm
calbe closing price is 1.6479 on weekly fx open


walking to profits - nice set ups to come tonight at

http://www.forexfactory.com/showthre...254704&page=30
  • #280,276
  • May 29, 2011 2:09pm May 29, 2011 2:09pm
weekly close on netdania charts is 1.65043
  • #280,277
  • May 29, 2011 2:14pm May 29, 2011 2:14pm
Quoting dailyking
calbe closing price is 1.6479 on weekly fx open


walking to profits - nice set ups to come tonight at

http://www.forexfactory.com/showthre...254704&page=30

not on my feed
Attached Image (click to enlarge)
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  • #280,278
  • May 29, 2011 5:10pm May 29, 2011 5:10pm
Closed all long position, going short, not clear yet, but strategy in place.

Quoting nAVIN2007
not on my feed
  • #280,279
  • May 29, 2011 7:35pm May 29, 2011 7:35pm
[quote=jmtini;4651205]Hi all

There's been a bit of a rant about people shorting at the wrong time, etc.

Tank you very much - this is what new traders want and appreciate
  • #280,280
  • May 30, 2011 2:12am May 30, 2011 2:12am
Bank Holiday in England and USA --> thin ranging market. 1.64421 - 1.65167, imho.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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