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Cable Update (GBPUSD)

  • #280,961
  • Jun 8, 2011 11:51pm Jun 8, 2011 11:51pm
Quoting _BBKing_
yes it was..
6450 before boe release?
lets see
Oh. I didn't check the news this morning. I just traded off the break of Asia high. Could be an interesting day. Which way do we break the triangle? It's only about 70 pips now.
Gone to a better place
  • #280,962
  • Jun 8, 2011 11:53pm Jun 8, 2011 11:53pm
Quoting smikester
Good thinking. I'm already long but off the M15 candle.
Long at 1.6421

Let's rock the market)))
  • #280,963
  • Jun 8, 2011 11:54pm Jun 8, 2011 11:54pm
Quoting josef
Hello.

I'll go long, after this 30 minutes candle closed.
I am holding long from 6360 and for 6450. do you think it will go more today if it does what will be the target?
  • #280,964
  • Jun 9, 2011 12:13am Jun 9, 2011 12:13am
Quoting _BBKing_
yes it was..
6450 before boe release?
lets see



ok have a good day, now i really leave.
90% of traders use TA, indicators and prediction
  • #280,965
  • Jun 9, 2011 12:15am Jun 9, 2011 12:15am
Target completed long from 6360 to 6450. Now long at 6440 for 6490. any comments pls share.
  • #280,966
  • Jun 9, 2011 12:39am Jun 9, 2011 12:39am
G/M

Bullish move up off yesterday's 6347 Lo and a bullish start to the London session today past Daily R1 pivot, and breech of descending trend lines on 1hr/4hr.

4hr near-term screenshot below perhaps shows best the upside hurdles above current price from here and not shown on hjere are the 76.4% of 6546-6286 @ 6484, Daily R2 being @ 6494 area. 6543 is daily R3 and just above that recent 6546 swing hi on the 1hr/4hr/daily is Weekly R1 around 6551.

Event Risks: Uk Trade Balance at 0830am gmt followed by Uk Boe Rate/Qe and statement @ 11am gmt

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 56 KB
ex member
  • #280,967
  • Jun 9, 2011 12:48am Jun 9, 2011 12:48am
Morning all! Isn't it great to wake up to 210 pips on positions you though weren't moving - they all add up
You thinking long £ today before the rates?

Time to get charting & take a decision - anyone catch the oil future rise btw?
  • #280,968
  • Jun 9, 2011 12:54am Jun 9, 2011 12:54am
Price has risen to enter that previous 1hr/4hr swing hi zone x 2 that surrounds the recent 6471 Tuesday Hi. How much supply is here - how strong are the bulls today ?

G/L
Attached Image
ex member
  • #280,969
  • Jun 9, 2011 12:56am Jun 9, 2011 12:56am
Quoting Walker93
Morning all! Isn't it great to wake up to 210 pips on positions you though weren't moving - they all add up
You thinking long £ today before the rates?

Time to get charting & take a decision - anyone catch the oil future rise btw?
you are so happy.ahaha. i am lucky if i can get 100 pips. and 200? i would be over the moon. thats nice.
  • #280,970
  • Jun 9, 2011 1:02am Jun 9, 2011 1:02am
Quoting bbmac
Price has risen to enter that previous 1hr/4hr swing hi zone x 2 that surrounds the recent 6471 Tuesday Hi. How much supply is here - how strong are the bulls today ?

G/L
hey bbmac - really like your chart analysis you've been posting...you think the bulls can push through 6458?

On a short term chart we see 6458 as a serious resistance level, but linear regression channels suggest that it can break it providing we have volume to confirm/validate the rise - breakout day? or we staying in the range....food for thought
  • #280,971
  • Jun 9, 2011 1:03am Jun 9, 2011 1:03am
Quoting stfu
you are so happy.ahaha. i am lucky if i can get 100 pips. and 200? i would be over the moon. thats nice.
Yeah thanks man - had position on cable and eurodollar & had already taken profit on oil moves - closed a bit early tbh but still happy
  • #280,972
  • Jun 9, 2011 1:04am Jun 9, 2011 1:04am
closed all longs from yesterdays lows....
will wait after news in 30mins. and than the big ones, market seems stuck at the moment, can be either way imho
  • #280,973
  • Jun 9, 2011 1:12am Jun 9, 2011 1:12am
Hi

Thanks for the comments, yeh that area up to 6471 is a previous 1hr/4hr swing hi x2/previous daily swing hi so could be tough to get through for the bulls...re where price will go next, I have no idea, I just play the set-ups as they present themselves...I try not to predict...all we know is what is in front of us on the chart and what trends historically tend to do and what breakouts from ranges can dfo...so will see.

G/L

Quoting Walker93
hey bbmac - really like your chart analysis you've been posting...you think the bulls can push through 6458?

On a short term chart we see 6458 as a serious resistance level, but linear regression channels suggest that it can break it providing we have volume to confirm/validate the rise - breakout day? or we staying in the range....food for thought
ex member
  • #280,974
  • Jun 9, 2011 1:18am Jun 9, 2011 1:18am
It's been messy but from last week's / Friday's pre NFP lo @ 6286 (the LL shown below) 4hr has printed a H above the last LH, followed by a HL, HH and 2nd HL, so arguably in a classic uptrend on this t/f ?? 4hr 100sma however remains below it's 200sma.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 47 KB
ex member
  • #280,975
  • Jun 9, 2011 1:19am Jun 9, 2011 1:19am
Quoting bbmac
just play the set-ups as they present themselves...I try not to predict...all we know is what is in front of us on the chart and what trends historically tend to do and what breakouts from ranges can dfo...so will see.
Totally agree - we'll see...could get interesting
  • #280,976
  • Jun 9, 2011 1:21am Jun 9, 2011 1:21am
try to sell GU with tight SL 1.6463, dont know if this a right decision lol...seem 1.6457 resistance hold there
Attached Image (click to enlarge)
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  • #280,977
  • Jun 9, 2011 1:25am Jun 9, 2011 1:25am
I always think if there was a gun to my head and I had to take a position now - this instant (we don't Lol - it's one of our greatest advantages - ie we don't have to we can wait for the best opportunities!) which way would I go ? Ie what based on the charts does it favour ? (news excepted)

G/L
ex member
  • #280,978
  • Jun 9, 2011 1:31am Jun 9, 2011 1:31am
Quoting josef
Long at 1.6421

Let's rock the market)))

Closed at 1.6444 ! 23 pips profit. I'll open new long trade when candle will be closed above 1.6470.
  • #280,979
  • Jun 9, 2011 1:37am Jun 9, 2011 1:37am
Quoting josef
Closed at 1.6444 ! 23 pips profit. I'll open new long trade when candle will be closed above 1.6470.
thinking exactly the same
  • #280,980
  • Jun 9, 2011 1:41am Jun 9, 2011 1:41am
Uk Trade bal comes in slightly better tha n forec ast/last mth's, but still well in the 'trade gap' area...pullback to 23.6% of yesterday's lo to today's current hi / topside of breeched descending trend line on 1hr/4hr finds support on the back of..

G/L
ex member
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