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Cable Update (GBPUSD)

  • #280,461
  • Jun 1, 2011 2:21pm Jun 1, 2011 2:21pm


i already closed all.
but that line can be attractin price.
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  • #280,462
  • Jun 1, 2011 2:22pm Jun 1, 2011 2:22pm
Quoting _BBKing_


i already closed all.
but that line can be attractin price.
I agree
Come with me if you want to live....
  • #280,463
  • Jun 1, 2011 2:34pm Jun 1, 2011 2:34pm
Quoting _BBKing_
look today there was manufactury PMI and other data... all bad.
while usd lost ground vs jpy
anyway us dollar can go more weak tomorrow.
be ready to react on a possible reversal before 6300

i have 6330 n 6290 as extreme levels if goes straight.
lets see what happens
I see a fibo level at .6319. Hopefully it'll reverse at this level.
Make your losses in demo. Earn your profits live.
  • #280,464
  • Jun 1, 2011 3:22pm Jun 1, 2011 3:22pm
the bears have it all today.......this trend defiled alll my strategies amidst poor us data. Hopeful is welcome to June
Keep the Lights on then you can catch the rise from the dark.
  • #280,465
  • Jun 1, 2011 5:11pm Jun 1, 2011 5:11pm
Quoting Forexia
I see a fibo level at .6319. Hopefully it'll reverse at this level.

do you mean hope !!
  • #280,466
  • Jun 2, 2011 1:25am Jun 2, 2011 1:25am
Bullish? retesting 1hr 200emas, tight stops
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Come with me if you want to live....
  • #280,467
  • Jun 2, 2011 1:28am Jun 2, 2011 1:28am
Quoting Ill-b-back
Bullish? retesting 1hr 200emas, tight stops
does anyone else notice the cable likes to fake up or down then scream the other way at market open? seems to be the case around 70% of the time in history check.
Come with me if you want to live....
  • #280,468
  • Jun 2, 2011 3:45am Jun 2, 2011 3:45am
Hello.

So up or down?

Josef
  • #280,469
  • Jun 2, 2011 3:46am Jun 2, 2011 3:46am
G/M, this thread is a bit dead again !

Cable finds early London session support @ the 50% of the main 6746-6057 move....the Uk Construction Pmi release see-ing further knee-jerk demand as it ticks up above forecast and last mth, unlike manuf pmi yesterday.

4hr has now seen a LH and LL printed below the last L-this below the last HL of the previous uptrend on that t/f, 100sma remains below 200sma on that t/f, whilst 1hr is in a downtrend still, it's 100sma remaining above it's 200sma.

Below current price the unbreeched fibs of the 6057 and 6131 moves to 6057 as well as a 4hr ascending trend line coming thnrough at the current dailyt lo and the previous 1hr and 1hr/4hr swing hi/lo's that may act as potential rbs/supp.

Above current price the fibs are drwan from that recent 6546 hi as well as the LH on 4hr @ 6495.

G/L
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ex member
  • #280,470
  • Jun 2, 2011 3:47am Jun 2, 2011 3:47am
GU Will try reach the 1,6420 I think,
  • #280,471
  • Jun 2, 2011 3:48am Jun 2, 2011 3:48am
If only any of us knew that my friend...Lol...you just gotta play your edge, after that what will happen will happen....nice little rise up on the data react after the suppoort at the 50% 6057-6546 earlier.

G/L

Quoting josef
Hello.

So up or down?

Josef
ex member
  • #280,472
  • Jun 2, 2011 3:52am Jun 2, 2011 3:52am
Quoting Petar_Serbia
Took First target +140 pips,waiting for second target..

Cheers
Petar
Hello guys i closed manuly second target at 1.6310 (+190 pips from second trade).

Total +330 this week on Cable

Cheers
Petar
"Buy on fear, sell on greed !!!
  • #280,473
  • Jun 2, 2011 3:53am Jun 2, 2011 3:53am
so after this week hick-ups are we still in uptread TP around + 1.66x
  • #280,474
  • Jun 2, 2011 3:54am Jun 2, 2011 3:54am
4hr near-term current screenshot shows the main potential supp/rbs factors below current price.

Not shown on this or 1hr above are the caluculated pivots, price has just broken back above Weekly Pivot and daily Pivot is around 6379.

G/L
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ex member
  • #280,475
  • Jun 2, 2011 3:55am Jun 2, 2011 3:55am
Quoting sphinx8
..... are we still in uptread.... TP around + 1.66x
depends which t/fyou look at.

G/L
ex member
  • #280,476
  • Jun 2, 2011 3:57am Jun 2, 2011 3:57am
Quoting bbmac
depends which t/fyou look at.

G/L

well for this new month of June I would say....
some bounces around 1.635 and step by step up?
EURO $hit will calm down and focus will be on the overheated US debt ceiling and end of QE2 ?
  • #280,477
  • Jun 2, 2011 3:58am Jun 2, 2011 3:58am
patterns of regular bullish divergence to the 1hr t/f at the current daily lo.

price testing 38.2% of 6495-current daily lo 6303 as I write this.

G/L
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ex member
  • #280,478
  • Jun 2, 2011 4:01am Jun 2, 2011 4:01am
you could be right, you could be wrong, but for me with a technical trading edge, I just play the set-ups as they come along and don't need to make assumptions/predictions etc which is just as well cause I ain't smart enough to figure all that fundie stuff out, like a lot of others...and trying to get on a short term direction on the back of fundie/global macro analysis/view is folly beacuse you need to take a long term view with it over weeks and months not hours or days... and you need to have the stop size to ride the fluctuations inbetween will your analysis/view plays out |(or not) ...- not for me.

G/L

Quoting sphinx8
well for this new month of June I would say....
some bounces around 1.635 and step by step up?
EURO $hit will calm down and focus will be on the overheated US debt ceiling and end of QE2 ?
ex member
  • #280,479
  • Jun 2, 2011 4:06am Jun 2, 2011 4:06am
All we know now, right now is that there is more buying volume than selling volume, henmce price discovery is upwards to find the prices at which there exists supply to soke up that imbalance of demand....this will continue until prices hit an equilibrium or opposite imbalance. What we also know is that support was found at a tech level ie that 50% 6057-6546 and that this recent leg up has likely been casued by market's knee-jerk reaction to that Uk data.

As a tech trader I don't need to know anymore.

G/L
ex member
  • #280,480
  • Jun 2, 2011 4:13am Jun 2, 2011 4:13am
is a reversal in the making now? all the odds are turning back for the gbp/usd
the 4 hr candle that has just closed made a strong bullish reversal engulfing candle. The candle engulfed 3 other candles closing out of the 38% retracement. Aggressive traders will take a long right now, when conservative will wait for today daily close for further confirmation (mostly because of yesterday wide range candle)....

follow my signals on my trading journal
http://www.forexfactory.com/showthre...254704&page=32

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