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Cable Update (GBPUSD)

  • #280,941
  • Jun 8, 2011 9:12am Jun 8, 2011 9:12am
taken this for another 50 pips - dont know whether to close & run or see if its still got momentum...
  • #280,942
  • Jun 8, 2011 9:42am Jun 8, 2011 9:42am
This is what is currently playing out. The trendline and historical support at 1.63000 is acting as a barrier to the bear. Price is now at very tight angle. Something is about to give way. In my opinion, the pressure is more to the downside for now. A convincing break of 1.63000 will confirm this. However if the daily jumped above the upper trend line, the bulls will continue their match to 1.6600 - 1.67000. This is a time to wait until price breaks out of this range either way.


See the weekly, daily and H4 charts below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: new june - gbpusd - weekly.gif Size: 13 KB
Click to Enlarge Name: new june - gbpusd - daily.gif Size: 13 KB
Click to Enlarge Name: new june - gbpusd - h4.gif Size: 15 KB
  • #280,943
  • Jun 8, 2011 10:05am Jun 8, 2011 10:05am
gbp/usd has just made a reversal to the upside...
i'm up +5 pips in gbp/usd; almost at break even on gold

follow my journal
http://www.forexfactory.com/showthre...87#post4675287
  • #280,944
  • Jun 8, 2011 10:07am Jun 8, 2011 10:07am
Quoting bchbch
Cable has a two ck points to push up 6390 and 6420 to conform the low is formed @ 6350. Or we would see further sell off.
One taken out, Now have to watch the 6420 for 6460!
  • #280,945
  • Jun 8, 2011 10:34am Jun 8, 2011 10:34am
already had enough +pips on my reversal trending which GU triggered today +110pips but am still holding buy @ 1.6360 for the break of 1.6480 safe trades
Keep the Lights on then you can catch the rise from the dark.
  • #280,946
  • Jun 8, 2011 10:35am Jun 8, 2011 10:35am
Quoting Articulate
This is what is currently playing out. The trendline and historical support at 1.63000 is acting as a barrier to the bear. Price is now at very tight angle. Something is about to give way. In my opinion, the pressure is more to the downside for now. A convincing break of 1.63000 will confirm this. However if the daily jumped above the upper trend line, the bulls will continue their match to 1.6600 - 1.67000. This is a time to wait until price breaks out of this range either way.


See the weekly, daily and H4 charts below.

good post
  • #280,947
  • Jun 8, 2011 11:07am Jun 8, 2011 11:07am
Today's Daily, Weekly and Monthly Pivots as well as 50% 6472-6347 all reside 6410-18 which has provided upside/recovery resistance atm.

1hr near-term screenshot below.

G/L
Attached Image
ex member
  • #280,948
  • Jun 8, 2011 10:22pm Jun 8, 2011 10:22pm
hello all
today i won't trade gbp usd
i let it go a bit

good luck you all
90% of traders use TA, indicators and prediction
  • #280,949
  • Jun 8, 2011 10:49pm Jun 8, 2011 10:49pm
Quoting _BBKing_
hello all
today i won't trade gbp usd
i let it go a bit

good luck you all
reason:
see m1 chart...
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm1.jpg Size: 103 KB
90% of traders use TA, indicators and prediction
  • #280,950
  • Jun 8, 2011 11:04pm Jun 8, 2011 11:04pm
What happened just now to disrupt your picture?

Beginning of a new move? (1min)
  • #280,951
  • Jun 8, 2011 11:07pm Jun 8, 2011 11:07pm
Market Static
Trade Like a Robot make money Like a Bank
  • #280,952
  • Jun 8, 2011 11:12pm Jun 8, 2011 11:12pm
Quoting _BBKing_
reason:
see m1 chart...
Market awaits BOE decision on rate. Goldman Sachs MD Ben Broadbent will not vote for rate hike, for sure.
  • #280,953
  • Jun 8, 2011 11:16pm Jun 8, 2011 11:16pm
Hello.

I'll go long, after this 30 minutes candle closed.
  • #280,954
  • Jun 8, 2011 11:29pm Jun 8, 2011 11:29pm
Quoting josef
Hello.

I'll go long, after this 30 minutes candle closed.
Good thinking. I'm already long but off the M15 candle.
Gone to a better place
  • #280,955
  • Jun 8, 2011 11:31pm Jun 8, 2011 11:31pm
Quoting _BBKing_
reason:
see m1 chart...
What's wrong with the M1 chart? All I see is consolidation.
Gone to a better place
  • #280,956
  • Jun 8, 2011 11:35pm Jun 8, 2011 11:35pm
Quoting smikester
What's wrong with the M1 chart? All I see is consolidation.
yes it was..
6450 before boe release?
lets see
90% of traders use TA, indicators and prediction
  • #280,957
  • Jun 8, 2011 11:42pm Jun 8, 2011 11:42pm
Quoting _BBKing_
yes it was..
6450 before boe release?
lets see
not sure. 6450 is a round number, and I do not think it will be broken before BOE decision
  • #280,958
  • Jun 8, 2011 11:43pm Jun 8, 2011 11:43pm
Quoting slovforex
Market awaits BOE decision on rate. Goldman Sachs MD Ben Broadbent will not vote for rate hike, for sure.
yes i dont think uk is ready for a interest hike.
or better, this is what is rumored.
90% of traders use TA, indicators and prediction
  • #280,959
  • Jun 8, 2011 11:47pm Jun 8, 2011 11:47pm
Quoting slovforex
not sure. 6450 is a round number, and I do not think it will be broken before BOE decision
oh, i mean a touch near it
anyway, i got some scalps in early morning.
now i leave my pc

i dont like trading in days like this

good luck
90% of traders use TA, indicators and prediction
  • #280,960
  • Jun 8, 2011 11:50pm Jun 8, 2011 11:50pm
Quoting _BBKing_
yes i dont think uk is ready for a interest hike.
or better, this is what is rumored.
But on the other hand, the market will be awaiting for any hint that rate will be changed later. IMF already recommended it, coz inflation is too high.
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