Cable Update (GBPUSD)

I guess it got hit

the gbp/usd, and aud/usd proved today the importance of paying attention to key reversal points. As we all know, professionals are contrarians, and they use to fake trend and catch amateurs in their false move. Beware of that. the gbp/usd gave me nicely +163 pips, aud/usd +105 pips. And i'm still in these trades...
pips is market knowledge not indicators !

sweet !!!

follow my journal
http://www.forexfactory.com/showthre...=1#post4695416

Just updating charts before hitting the sack.

Yesterday's bearish candle was formed by the precipitous 240pip drop that breeched the 4hr/daily ascending trend lines and Weekly Pivot to the downside. A Daily bearish thrust b/o candle of the last swing lo on that t/f has been printed now on it's close. A LL now then on the Daily that follows 2 x LH on that t/f, and a co-existing L on the Weekly below the last HL in it's uptrend, this following a LH.

1hr remains in a classic opa downtrend and indeed a general downtrend it's 100sma remaining below it's 200sma. 4hr is looking very bearish printing a LL off that 6441 Hi, it's 100sma crossing up though just through it's 200sma. Price remains below the Weekly and Monthly Pivots, and has opened today below the new Daily Pivot as a new Daily Candle opens.

The lo of the day 6168 came @/around the 76.4% of the 6057-6546 move, and below here a previous 4hr swing lo zone extends to 6131 with Weekly S1 in/around there @ 6137 area. Daily S1 is @/around 6103. Below that a previous 4hr/daily swing lo zone extending down to that 6057 swing Lo and in here Monthly S1 @/around 6091. Weekly S2 is just below this zone @/around 6045, Daily S2 @/around 6028 and below there a previous 4hr swing lo zone running down to 5970.

G/L

What do you guys think of this area as a good area to see a big move?

I attached a chart with a box circled at background around may. it was here for almost a week. I am looking for this area to either break or reject. critical area.

Yaiiikssss.... Yea, it got hit with a +2 pip, a risk entry but still a win.

Morning... Wow, you talk like those guys in bloomberg yet I dont understand most of it. (sorry), BTW, what is your intraday analysis? Your favaroble trend for today.. more buying or more selling?

Thanks

Good morning to every one. The price reject @ 6168 yesterday and the follow up today so far gave caution to the little pull back. Today the price rejection @ 6215 deny the pull back more. My buy stop is above the 6230 and the tp is @ 6360 and sl 6150. From the chart the hidden macd divergent is forming. Lets see the PA. Good luck to every one.

I saw your signature: CAFARA OSIRI BARA. (friends call me C.O.B.R.A FX)

was wondering what is your relation with COBRAFOREX
He is one of the best and respected FF traders, for the dedication of helping newbies with his amazing THV system.

And he has thousands friends call him Cobraforex for sure.

Yes...my mistake.

This thread is the backbone of forex factory.

1 hr close below 6160 gives a way to sell off today target 6050.

Took a Long scalp @ 1.6152.

Think it will make a move up towards my lower Kettner channel before a significant fall.

1.5-1.0 ratio.

Today the price rejection @ 6215 deny the pull back more. My buy stop is above the 6230 and the tp is @ 6360 and sl 6150. From the chart the hidden macd divergent is forming. Lets see the PA. Good luck to every one.[/quote]

Good morning. I was in a very similar position than yourself. Also going for the sell now. Any sugestions on the entry level to look for?

Jumped the gun and raised SL to + 5 BE.

Out.

Oh well, a scalp is a scalp. 5+ Pips I'll take to start the day. Nothing to speak of but it kind of like getting a first down from your first series of downs. Setting up the fly pattern down field for latter in the game.

Good morning. Interesting day, yesterday. More of the same today? What we are seeing is as much dollar strength as Sterling or Euro weakness. Witness USD/CAD or AUD/USD. Risk is on - the Dow was down 1.5% yesterday. The FTSE was down 1%. Quantitave easing is winding down. So, no more slush funds. The markets and banks face the real world.

Wow, testing main support 1.6464

In case of successful break, will target 1.6050

We have had a daily close below 1.6170 and so that will form good resistance. It looks like that is being tested as I write this. Higher we have strong resistance at 1.62.



1.6 should provide good support - although in the face of yesterday's move I would not rely on it. Additionally, we are sitting on the daily trend line from December 2010 - the purple line on the chart. If this breaks, then the massive wedge is broken. I posted this here: http://www.forexfactory.com/showthre...69#post4678469 and on this thread, but nobody commented on it. Add to this the head and shoulders on the daily. Phew!

weekly trend line breach today give us a clue where is the market is facing this week. i am shorting this baby.

There's half a billion pounds of tax payers money thrown away on Fire Service buildings in the United Kingdom.

These buildings will not be used and are owned by offshore companies. But we must pay them.

In the face of such crass waste will the British taxpayer (who now owns half the bankrupt banking system) still put up and shut up?





Will they???

http://www.imdb.com/title/tt0434409/