Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#280,301
May 31, 2011 2:09am May 31, 2011 2:09am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

so, am i the only one thinking on the 6430 as a possible sit down before any further up?

there is also a bearish divergence in h1 macd...

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#280,302
May 31, 2011 2:10am May 31, 2011 2:10am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

The areas I am watching currently below price now, are as screenshot below.

G/L

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ex member

#280,303
May 31, 2011 2:19am May 31, 2011 2:19am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Anything is possible, there is clearly some supply leading to current daily hi 6546....there have been bearish divergence patterns in 1hr for some time ....so momentum as measured by oscillators on that t/f appears to be fading on the upmove ? Is this a temporary loss of momentum or something more ? Trends can still advance on lower momentum .

G/L

Quoting _BBKing_

Disliked

so, am i the only one thinking on the 6430 as a possible sit down before any further up?

there is also a bearish divergence in h1 macd...

Ignored

ex member

#280,304
May 31, 2011 2:23am May 31, 2011 2:23am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

closer to home and 15min too showed the bearish divergence and bearish engulfing thrust candle at the current daily hi zone...

G/L

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ex member

#280,305
May 31, 2011 2:28am May 31, 2011 2:28am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

Quoting bbmac

Disliked

Anything is possible, there is clearly some supply leading to current daily hi 6546....there have been bearish divergence patterns in 1hr for some time ....so momentum as measured by oscillators on that t/f appears to be fading on the upmove ? Is this a temporary loss of momentum or something more ? Trends can still advance on lower momentum .

G/L

Ignored

yes, all possible
i mean if i see price going down will check possible reaction on those levels 6480 n 6430
lets see, now i let market setup a bit, yesterday was so slow....

90% of traders use TA, indicators and prediction

#280,306
May 31, 2011 2:41am May 31, 2011 2:41am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Let's see if any more demand 6512-05 (6505 isthe upside breeched Daily R1) - if tested.

G/L

ex member

#280,307
May 31, 2011 2:43am May 31, 2011 2:43am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Nothing is inevitable and certainly a test on the recent 6746 Hi is not as inevitable as others on this forum are suggesting, particularly given the event risks this week to come, but on a technical level and lookinmg at the daily chart and last week's weekly candle - it looks a good possibility overall ?

G/L

ex member

#280,308
May 31, 2011 2:52am May 31, 2011 2:52am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Price dips below Monday's Hi to ascending trend line on 1hr and 50% of Monday's low to today's current hi

G/L

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ex member

#280,309
May 31, 2011 2:55am May 31, 2011 2:55am

FXMoneMaker
| Commercial User | Joined May 2011 | 121 Posts

Gbp/Usd This pair is still on daily chart uptrend, high is at 1.6560/70, retracement is at 1.6440/50, break is to hold at 1.6320

#280,310
May 31, 2011 2:56am May 31, 2011 2:56am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

6472-83 contains 3 x unbreeched fibs of the main 1hr and 4hr swing lo's to current 6546 trend hi and daily/wekly pivots.

G/L

ex member

#280,311
May 31, 2011 2:57am May 31, 2011 2:57am

fendi
| Joined Mar 2008 | Status: Trader | 658 Posts

I see further retest of 1.6506 and possibly below 1.6479-84.... My bias remains long to close at 1.6547....

Quoting _BBKing_

Disliked

so, am i the only one thinking on the 6430 as a possible sit down before any further up?

there is also a bearish divergence in h1 macd...

Ignored

#280,312
May 31, 2011 3:26am May 31, 2011 3:26am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Is the 15min hidden divergence true - even though it comes @ a LL on that t/f - this corresponding to a potential HL on 1hr uptrend ?

Time will tell.

Finishing here for day, but may pop back later - see what I missed.

G/L

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#280,313
May 31, 2011 3:48am May 31, 2011 3:48am

smikester
Joined Mar 2007 | Status: Trader | 8,618 Posts

Quoting _BBKing_

Disliked

so, am i the only one thinking on the 6430 as a possible sit down before any further up?

there is also a bearish divergence in h1 macd...

Ignored

Morning BBKing. Could be a ranging day. When I get up to find a pair has made most of it's move during the Asian session I start thinking of other things to do.

Gone to a better place

#280,314
May 31, 2011 3:50am May 31, 2011 3:50am

smikester
Joined Mar 2007 | Status: Trader | 8,618 Posts

Quoting bbmac

Disliked

Finishing here for day, but may pop back later - see what I missed.

G/L

Ignored

Sounds like a good idea. Whenever I start looking for divergences I know the game is up...

Gone to a better place

#280,315
May 31, 2011 3:54am May 31, 2011 3:54am

smikester
Joined Mar 2007 | Status: Trader | 8,618 Posts

I'm just watching but this 1.6500 level is interesting.

Gone to a better place

#280,316
May 31, 2011 4:00am May 31, 2011 4:00am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

Quoting smikester

Disliked

Morning BBKing. Could be a ranging day. When I get up to find a pair has made most of it's move during the Asian session I start thinking of other things to do.

Ignored

morning
yes it moved during asia... i hate when this happen.
now im waitin, got some scalps but not so good so now i wait a bit.
later is nice USA data.

maybe i will come back after them.

90% of traders use TA, indicators and prediction

#280,317
May 31, 2011 4:48am May 31, 2011 4:48am

FXMoneMaker
| Commercial User | Joined May 2011 | 121 Posts

BBKing- No you are not the only one that thinks of around 1.6430

My today daily analysis for this pair says:

Gbp/Usd This pair is still on daily chart uptrend, high is at 1.6560/70, retracement is at 1.6440/50, break is to hold at 1.6320

As you see retracement would be crucial, while for my short term signals:

Gbp/Usd Buy 1.6430/35 then 1.6415/20 then 1.6380/85, sell 1.6565/70

Good Luck

#280,318
May 31, 2011 4:58am May 31, 2011 4:58am

Petar_Serbia
| Commercial User | Joined May 2009 | 5,751 Posts

Hello guys,
After we broke good down chanel last week i knew that we can see future up movies.No we broke very good upper chanel with very good test.Also we have a very good Volume reaction in previuse up move.I shorted from 1.6500...

You can see my analysis here >

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